Circle Internet Group vs WEX
Circle Internet Group and WEX are similar in size: $2.75bn and $2.66bn of revenue in their latest fiscal years. Circle Internet Group grew faster (63.9% against 1.2%). WEX kept more of each dollar of sales as profit: a net margin of 11.4% against -2.5%.
| Latest fiscal year | Circle Internet GroupCRCL, 2025 | WEXWEX, 2025 |
|---|---|---|
| Revenue | $2.75bn | $2.66bn |
| Revenue growth | 63.9% | 1.2% |
| Net income | −$69.5m | $304m |
| Operating margin | -3.5% | — |
| Net margin | -2.5% | 11.4% |
| Return on equity | -3.6% | 22.3% |
| Free cash flow | $530m | $314m |
| Cash | $1.53bn | $906m |
| Total debt | $36.8m | $4.91bn |
| Debt to equity | 1.1% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $0 | $800m |
| Employees | 1,100 | 6,600 |
| Market value | $20.35bn | $6.03bn |
| Price vs our value range | — | Above our value range |
| Moat score | — | 56 (Moderate) |
| Insider trades, 12 months | 0 buys, 257 sales | 2 buys, 40 sales |