Circle Internet Group, Inc. (CRCL) vs Interactive Brokers Group, Inc. (IBKR)

Circle Internet Group, Inc. and Interactive Brokers Group, Inc. are both Capital Markets companies. Interactive Brokers Group, Inc. is the larger, with a market value of $40.9B against $23.6B — 1.7× the size. Interactive Brokers Group, Inc. trades at the lower P/E: 35.3× against 46.6×. Circle Internet Group, Inc. grew revenue faster over the last twelve months: 37.5% against 21.3%. Interactive Brokers Group, Inc. has the higher net margin (16.4% vs 15.5%) and the higher return on invested capital (0.00% vs 0.00%). Across the 17 metrics below, Interactive Brokers Group, Inc. leads on 13 and Circle Internet Group, Inc. on 4.

Valuation

Metric CRCL IBKR Capital Markets median
P/E 46.60 35.25 15.78
P/S 7.60 5.82 2.32
P/B 6.29 1.80 1.89
Price to free cash flow 31.80 2.52 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales (18.47) (12.76) 2.28
Earnings yield 2.15% 2.84% (3.77%)
Free cash flow yield 3.14% 39.64% (1.49%)

Profitability

Metric CRCL IBKR Capital Markets median
Gross margin 40.51% 93.72% 62.80%
Operating margin 7.42% 78.19% 0.00%
Net margin 15.53% 16.41% (0.55%)
Free cash flow margin 23.90% 230.72% 0.00%
Return on equity 15.35% 5.52% 0.00%
Return on assets 0.64% 0.53% 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric CRCL IBKR Capital Markets median
Revenue growth (TTM) 37.54% 21.28% 21.02%
EPS growth (last fiscal year) (120.65%) 28.14% —
Revenue growth, 5-year CAGR — 22.84% 18.16%
Net income growth, 5-year CAGR — 38.23% 0.00%

Health

Metric CRCL IBKR Capital Markets median
Debt to equity 0.00 0.00 0.08
Current ratio 1.03 1.09 1.51
Net debt to EBITDA 3,906.55 (20.66) (0.24)

Dividend

Metric CRCL IBKR Capital Markets median
Dividend yield — 0.42% 2.20%
Payout ratio — 0.08 0.00

Size

Metric CRCL IBKR Capital Markets median
Market cap 23.61b 40.91b 724.58m

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