CIRCLE INTERNET GROUP, INC. vs SoFi Technologies, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
SoFi is a bank in fintech clothing, lending against deposits at a 14.6% net margin with a 39.7 times multiple; Circle is not a bank at all, a stablecoin issuer earning float on USDC reserves, net-negative and multiple-less at $20B. The economics diverge at the source: SoFi's earnings arrive from credit spreads and will cycle with them; Circle's arrive from short rates on reserves and will cycle with those. SoFi's negative 25.8% free-cash figure is loan-book growth in disguise; Circle's 2.5% is real but small. Both are debt-free at the operating level. Two post-2020 financial franchises, one converging on traditional banking, one trying to route around it; the market currently pays a premium for the detour.
Comparison updated 2026-07-10.
| Metric | CRCL | SOFI |
|---|---|---|
| Price | $73.52 | $17.86 |
| Market cap | $19.6B | $24.6B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Growth |
| P/E | — | 39.7 |
| P/B | 5.72 | 2.28 |
| P/S | 6.85 | 6.24 |
| EV/EBITDA | 52.9 | 313.9 |
| Revenue growth | +46.3% | +40.7% |
| Operating margin | 6.5% | — |
| Net margin | -2.8% | 14.6% |
| Return on equity | -2.3% | 5.3% |
| Return on assets | -0.1% | 1.1% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 1.03 | — |
| Altman Z (solvency) | 0.21 | 0.40 |
| Piotroski F (quality) | 5 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.