Circle Internet (CRCL) Gross Margin (2024 - 2026)
Circle Internet (CRCL) reported Gross Margin of 52.41% for Q3 2026, up 12.91 percentage points from 39.49% a year earlier and up 11.22 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 Sep 30, 2026, Circle Internet's Gross Margin came in at 44.16%, up 6.63 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.
- The Q3 2026 figure ranks as the highest quarterly Gross Margin in data going back to Q2 2024.
- Year over year, Gross Margin has now increased in each of the last four quarters, with an average year-over-year change of +3.45 percentage points over the last six quarters.
- Per Business Quant data, the three quarters before Q3 2026 came in at 41.19% (Q2 2026), 41.40% (Q1 2026) and 40.09% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 113.65 Bn | 101.99 Bn | 359.20 Mn | 20.68% |
| 2 | Bank of New York Mellon | 103.23 Bn | 37.32 Bn | - | - |
| 3 | Intercontinental Exchange | 99.60 Bn | 93.42 Bn | 1.22 Bn | 33.69% |
| 4 | Robinhood Markets | 70.15 Bn | 49.76 Bn | - | - |
| 5 | Nasdaq | 60.57 Bn | 58.01 Bn | 1.48 Bn | 61.89% |
| 6 | State Street | 47.32 Bn | 43.94 Bn | - | - |
| 7 | Cboe Global Markets | 39.19 Bn | 29.68 Bn | 712.20 Mn | 52.41% |
| 8 | Interactive Brokers | 37.06 Bn | 20.72 Bn | - | - |
| 9 | Northern Trust | 32.28 Bn | 32.28 Bn | - | - |
| 10 | Circle Internet | 15.74 Bn | 9.27 Bn | 453.25 Mn | 52.41% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 52.41% |
| 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();