Stock fact sheet · data as of
Circle Internet Group (CRCL): fair value, margin of safety and Wheel Score
Ticker symbol CRCL · Financial Services · Financial - Capital Markets · United States · Class A common stock · Growth
CRCL is Circle Internet Group's Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is CRCL undervalued?
At 76.12 (close of 5 Nov 2026), CRCL trades 11% over the GLS average fair value of 68.34. 3 of the 7 models land above the price and 4 below. A negative margin of safety fails the "below fair value" Wheel Trade Filter - the models see no discount, which does not make the business a poor one, only the price a full one.
The 7 models disagree widely: EPV gives 21.06 while Payback Time gives 118.76. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, CRCL is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 19, growth score 81, out of 100).
Nine valuation models for CRCL
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 25.97 | -66% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 108.40 | +42% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 47.38 | -38% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 93.27 | +23% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 63.51 | -17% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 118.76 | +56% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 21.06 | -72% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 9.53 | -87% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 94.07 | +24% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - CRCL passes 6 of the nine Piotroski tests, which passes the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.4 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -2.1%, ROE -2.1%, ROA -0.1% - with debt at 0.01 times equity and a free-cash-flow yield of 4.1%.
Circle Internet Group pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Reserve income 95%, Subscription and services 4%, Transaction revenue 1% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 21 Oct 2026.
| Piotroski F-score | 6 / 9 | ROIC | -2.1% |
|---|---|---|---|
| GLS Moat | 3.4 / 10 | ROE | -2.1% |
| Debt / equity | 0.01 | ROA | -0.1% |
| Free-cash-flow yield | 4.1% | Payout ratio | 0% |
| Institutions | 7 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 36: Weak
CRCL scores 36 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 3, below fair value - trades 11% above our fair value, and the parts are thin too - value weak, premium good, moat weak, health good, red flags fair, option trading strong, stability good. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 77% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. The option chain is deep: 314,332 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 14.3M shares a day on a market cap of $19.3B, with a beta of 0.23 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 11% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 11% above fair value | |
| Premium | Good | implied volatility 77% | |
| Moat | Weak | moat 3.4/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Fair | Red Flags score 77/100 | |
| Option trading | Strong | 54,628 contracts a day, 314,332 open interest | |
| Stability | Good | beta 0.23, $19.3B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for CRCL in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Financial - Capital Markets
The 12 companies below are the closest to Circle Internet Group by market cap within the Financial - Capital Markets industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| LPLA LPL Financial Holdings Inc. | 311.48 | 496.45 | +37% | 91Prime | $24.3B |
| FUTU Futu Holdings Limited | 97.92 | 476.82 | +79% | 53Fair | $13.7B |
| TW Tradeweb Markets Inc. | 126.99 | 120.03 | -6% | 46Weak | $27.4B |
| NMR Nomura Holdings, Inc. | 9.79 | 17.13 | +43% | 47Weak | $28.6B |
| BMNP Bitmine Immersion Technologies, Inc. | 98.10 | 1.63 | -5908% | 13No options | $13.0B |
| BMNR Bitmine Immersion Technologies, Inc. | 21.73 | 0.7947 | -2635% | 29Weak | $12.4B |
| EVR Evercore Inc. | 311.03 | 355.42 | +12% | 75Good | $12.0B |
| SF Stifel Financial Corp | 72.94 | 97.45 | +25% | 79Good | $10.9B |
| JEF Jefferies Financial Group Inc. | 51.17 | 141.57 | +64% | 81Good | $9.7B |
| XP XP Inc. | 15.17 | 70.40 | +78% | 55Fair | $7.9B |
| SNEX StoneX Group Inc. | 56.83 | 712.67 | +92% | 79Good | $6.9B |
| HUT Hut 8 Corp. | 48.94 | - | - | 14Weak | $6.0B |
⚖ Compare CRCL with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about CRCL
What kind of share is CRCL?
CRCL is Circle Internet Group's Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is CRCL undervalued right now?
No: at 76.12 the stock trades 11% above the GLS average fair value of 68.34 (data as of 5 Nov 2026). The margin of safety is negative.
What is the Wheel Score of CRCL and what does it mean?
CRCL scores 36 out of 100 (Weak) - it fails Wheel Trade Filter 3. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for CRCL?
68.34 per share as of 5 Nov 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Circle Internet Group report earnings next?
No upcoming earnings date is recorded for CRCL in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does CRCL have listed options, and how liquid are they?
Yes. The nightly snapshot found 568 listed contracts with 314,332 open interest across all expiries and implied volatility of 77% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.