Company Valuation: Circle Internet Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 18,673 15,563 - -
Change - -16.65% - -
Enterprise Value (EV) 1 17,184 13,299 12,860 12,010
Change - -22.61% -3.3% -6.61%
P/E -180x 72.5x 44.1x 27.3x
PBR 5.77x 4.59x 4.28x 3.27x
PEG 1x -0x 0.7x 0.4x
Capitalization / Revenue 6.8x 5.18x 3.96x 3.06x
EV / Revenue 6.26x 4.43x 3.27x 2.36x
EV / EBITDA 29.5x 21.7x 14.7x 9.15x
EV / EBIT -178x 52.8x 27.6x 15.2x
EV / FCF 36.3x 24.5x 17.8x 11.8x
FCF Yield 2.76% 4.09% 5.63% 8.5%
Dividend per Share 2 - - - -
Rate of return - - - -
EPS 2 -0.44 0.8639 1.42 2.292
Distribution rate - - - -
Net sales 1 2,747 3,005 3,933 5,087
EBITDA 1 582.2 613.6 874.3 1,313
EBIT 1 -96.44 251.7 465.4 790.9
Net income 1 -69.51 232.1 393.4 634.1
Net Debt 1 -1,489 -2,265 -2,703 -3,554
Reference price 2 79.30 62.61 62.61 62.61
Nbr of stocks (in thousands) 2,35,476 2,48,576 - -
Announcement Date 25/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.87x4x9.44x1.51% 8.65TCr
42.11x13.94x26.17x-.--% 7.78TCr
23.03x6.19x11.88x-.--% 3.18TCr
42.43x22.51x36.8x1.97% 2.62TCr
57.89x5.23x18.21x-.--% 2.39TCr
6.2x2.99x6.96x4.07% 2.31TCr
7.47x - - 8.08% 1.69TCr
12.3x-0.36x-0.62x-.--% 1.47TCr
38.82x18.99x29.82x-.--% 1.28TCr
Average 27.79x 9.19x 17.33x 1.74% 3.49TCr
Weighted average by Cap. 29.23x 8.92x 17.39x 1.32%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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