Company Valuation: Circle Internet Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2025 2026 2027 2028
Market Cap 1 18,673 24,258 - -
Change - 29.91% - -
Enterprise Value (EV) 1 17,184 21,672 21,339 20,773
Change - 26.12% -1.54% -2.65%
P/E -180x 90.2x 68.6x 44.6x
PBR 5.77x 7.03x 6.53x 5.06x
PEG 1x -0x 2.2x 0.8x
Capitalization / Revenue 6.8x 8.08x 6.54x 5.25x
EV / Revenue 6.26x 7.22x 5.75x 4.5x
EV / EBITDA 29.5x 30.7x 26.5x 18.3x
EV / EBIT -178x 73.1x 50.2x 30.5x
EV / FCF 36.3x 35.3x 30.9x 21.4x
FCF Yield 2.76% 2.84% 3.23% 4.67%
Dividend per Share 2 - - - -
Rate of return - - - -
EPS 2 -0.44 1.059 1.393 2.141
Distribution rate - - - -
Net sales 1 2,747 3,003 3,710 4,619
EBITDA 1 582.2 705.2 804.9 1,137
EBIT 1 -96.44 296.6 425.3 681
Net income 1 -69.51 282.7 365.8 567.5
Net Debt 1 -1,489 -2,586 -2,919 -3,485
Reference price 2 79.30 95.55 95.55 95.55
Nbr of stocks (in thousands) 235,476 253,876 - -
Announcement Date 25/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
90.2x7.22x30.73x-.--% 24.26B
22.59x4.55x10.75x1.33% 98.28B
50.58x17.1x32.16x-.--% 94.23B
27.22x8.35x16.06x-.--% 38.4B
40.28x20.23x33.82x2.12% 25.66B
38.59x4.03x13.78x-.--% 25.12B
6.13x2.94x7x4.41% 21.03B
8.27x - - 7.63% 19.98B
12.65x-0.34x-0.6x-.--% 17.12B
38.41x18.77x29.48x-.--% 12.66B
Average 33.49x 9.21x 19.24x 1.55% 37.67B
Weighted average by Cap. 35.09x 9.72x 20.11x 1.14%

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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