Circle Internet (CRCL) Gross Margin (2024 - 2026)
Circle Internet (CRCL) reported Gross Margin of 41.19% for Q2 2026, up 3.02 percentage points from 38.16% a year earlier but down 0.21 percentage points from the prior quarter.
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Analysis
Circle Internet (CRCL) Gross Margin (2024 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Circle Internet's Gross Margin came in at 40.51%, up 2.69 percentage points year-over-year; for FY2025, it came in at 39.43%, up 0.12 percentage points from FY2024.
- By year, Gross Margin came in at 39.31% in FY2024 (-10.52 pp) and 49.83% in FY2023.
- Five-year quarterly Gross Margin spans a low of 30.05% in Q4 2024 and a high of 42.24% in Q2 2024.
- Year over year, Gross Margin has now increased in each of the last three quarters, with an average year-over-year change of +1.55 percentage points over the last five quarters.
- Per Business Quant data, the three quarters before Q2 2026 came in at 41.40% (Q1 2026), 40.09% (Q4 2025) and 39.49% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.35 Bn | 82.45 Bn | - | - |
| 2 | Bank of New York Mellon | 98.65 Bn | 38.02 Bn | - | - |
| 3 | Cme | 94.54 Bn | 94.54 Bn | - | - |
| 4 | Intercontinental Exchange | 84.23 Bn | 78.04 Bn | - | - |
| 5 | Nasdaq | 50.77 Bn | 48.20 Bn | 1.50 Bn | 59.24% |
| 6 | State Street | 48.31 Bn | 48.31 Bn | - | - |
| 7 | Interactive Brokers | 39.79 Bn | 33.24 Bn | - | - |
| 8 | Northern Trust | 31.37 Bn | 31.37 Bn | - | - |
| 9 | Cboe Global Markets | 28.34 Bn | 20.00 Bn | 731.60 Mn | 50.71% |
| 10 | Circle Internet | 18.96 Bn | 12.84 Bn | 288.85 Mn | 41.19% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 41.19% |
| Mar 31, 2026 | 41.40% |
| Dec 31, 2025 | 40.09% |
| Sep 30, 2025 | 39.49% |
| Jun 30, 2025 | 38.16% |
| Mar 31, 2025 | 39.91% |
| Dec 31, 2024 | 30.05% |
| Sep 30, 2024 | 42.19% |
| Jun 30, 2024 | 42.24% |
API Access
Circle Internet Gross 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=gross-margin&ticker=CRCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=CRCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();