Circle Internet (CRCL) FCF Margin (2024 - 2026)
Circle Internet (CRCL) recorded FCF Margin of -4.11% in Q3 2026, down 2.12 percentage points from -1.99% a year earlier and down 77.75 percentage points from the prior quarter.
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Analysis
Circle Internet (CRCL) FCF Margin (2024 - 2026) Analysis & Trends
On a TTM basis, Circle Internet's FCF Margin came in at 24.44% as of Sep 30, 2026, up 8.74 percentage points year-over-year; for FY2025, it was 19.29%, down 0.19 percentage points from FY2024.
- Across earlier years, FCF Margin came in at 19.47% in FY2024 (+9.90 pp) and 9.58% in FY2023.
- The Q3 2026 figure is the lowest quarterly FCF Margin in data going back to Q3 2024.
- On a year-over-year basis, FCF Margin rose in two of the last five quarters, with an average year-over-year change of +2.17 percentage points.
- Per Business Quant, the preceding three quarters came in at 73.63% (Q2 2026), 1.69% (Q1 2026) and 32.22% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 113.65 Bn | 101.99 Bn | 359.20 Mn | 61.60% |
| 2 | Bank of New York Mellon | 103.23 Bn | 37.32 Bn | - | 71.32% |
| 3 | Intercontinental Exchange | 99.60 Bn | 93.42 Bn | 1.22 Bn | 28.98% |
| 4 | Robinhood Markets | 70.15 Bn | 49.76 Bn | - | 85.32% |
| 5 | Nasdaq | 60.57 Bn | 58.01 Bn | 1.48 Bn | 19.18% |
| 6 | State Street | 47.32 Bn | 43.94 Bn | - | 47.58% |
| 7 | Cboe Global Markets | 39.19 Bn | 29.68 Bn | 712.20 Mn | 58.36% |
| 8 | Interactive Brokers | 37.06 Bn | 20.72 Bn | - | 42.53% |
| 9 | Northern Trust | 32.28 Bn | 32.28 Bn | - | 131.29% |
| 10 | Circle Internet | 15.74 Bn | 9.27 Bn | 453.25 Mn | -4.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -4.11% |
| Jun 30, 2026 | 73.63% |
| Mar 31, 2026 | 1.69% |
| Dec 31, 2025 | 32.22% |
| Sep 30, 2025 | -1.99% |
| Jun 30, 2025 | 37.32% |
| Mar 31, 2025 | 8.77% |
| Dec 31, 2024 | 22.32% |
| Sep 30, 2024 | 24.15% |
API Access
Circle Internet FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=CRCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "CRCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=CRCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();