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Coinbase Global vs Circle Internet Group: COIN and CRCL compared
Coinbase Global is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $865M for Circle Internet Group (Q3 2026). Circle Internet Group is growing faster (+17% against -35% a year earlier). Circle Internet Group is more profitable, with an operating margin of 24.1% against 5.1%.
Where the money goes: COIN and CRCL
Coinbase Global (COIN) · Q3 2026
Coinbase Global, Q3 2026: revenue $1.2B (-35% year over year), operating margin 5.1%, net earnings $719M, operating cash flow $405M. The chart follows the revenue to costs, profit and cash.
Circle Internet Group (CRCL) · Q3 2026
Circle Internet Group, Q3 2026: revenue $865M (+17% year over year), operating margin 24.1%, net earnings $226M, operating cash flow −$15.5M. The chart follows the revenue to costs, profit and cash.
| Coinbase Global (COIN) | Circle Internet Group (CRCL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.2B | $865M |
| Revenue growth, Y/Y | -35% | +17% |
| Operating margin | 5.1% | 24.1% |
| Net earnings | $719M | $226M |
| Net margin | 59.1% | 26.1% |
| Operating cash flow | $405M | −$15.5M |
| Market value | $38.4B | $18.2B |
| P/E | — | 14.7× |
| Analysts’ mean target | $197.50 | $106.52 |
Where the revenue comes from
Coinbase Global
- Net revenue: $1.2B (96%)
- Other revenue: $55.1M (5%)
Circle Internet Group
- Other revenues: $658M (76%)
- Other: $182M (21%)
- Subscription and services: $19.6M (2%)
- Transaction revenue: $5.3M (1%)
Questions
Which is bigger, Coinbase Global or Circle Internet Group?
Coinbase Global is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $865M for Circle Internet Group (Q3 2026).
Is Coinbase Global or Circle Internet Group growing faster?
Circle Internet Group is growing faster (+17% against -35% a year earlier).
Which is more profitable, Coinbase Global or Circle Internet Group?
Circle Internet Group is more profitable, with an operating margin of 24.1% against 5.1%.
More: Coinbase Global earnings · how Coinbase Global makes money · Circle Internet Group earnings · how Circle Internet Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.