Circle Internet Group Inc. Class A Common Stock (CRCL)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor in financial firms, I ignore free cash flow and EV/EBITDA; I look at book value, returns on equity, leverage, and earnings consistency. Circle is a stablecoin and blockchain infrastructure business. Its filings show a volatile record: in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $41.6M and net income $55.3M; in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $33.6M and net income $48.2M, or $0.18 per diluted share. Earlier, fiscal Q3 2025 revenue was $28.5M with net income of $214.4M, while fiscal Q2 2025 had revenue of $23.8M and a net loss of $482.1M. For FY2025, revenue was $109.8M and net loss was $69.5M, after FY2024 net income of $155.7M and FY2023 net income of $267.6M. The Lynch category is TURNAROUND because the latest full year showed a loss after earlier profits. At the 2026-10-13 close of $84.27, FairStock computes a P/E of 16.89, P/B of 6.07, ROE of 15.35%, ROCE of 0.19%, PEG of 0.15, and Piotroski F-Score of 6/9. Debt is zero (D/E 0.00), which is comforting. But a $22.6B market cap against FY2025 revenue of $109.8M and a 6.07 price-to-book asks a lot. The moat may come from USDC liquidity, trust, and network effects, but the numbers do not yet prove durable pricing power or consistent underwriting-like returns. CET1, net interest margin, and combined ratio are not in the data. I see a speculative, uneven business, not a classic bargain; the recent profit is promising but must become repeatable.

In plain English: Circle runs a stablecoin and blockchain payments platform. Its reported results have swung between profits and losses, and its revenue is small compared with its $22.6 billion market value. At the latest close, the stock looks expensive relative to its accounting value and uncertain profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer