Coinbase Global Stock vs Competition: Who Wins?
Coinbase stock has underperformed over the past year, but how does it measure up against peers rapidly scaling in the evolving digital asset and fintech markets? A closer look reveals strong revenue growth and solid free cash flow, though operating margins lag some leaders. Valuation is moderate, but limited upside remains tied to crypto market stability and regulatory clarity, even as traditional players like ICE deepen their digital ventures.
- COIN’s 27.0% operating margin, lower than HOOD’s 47.7%, reflects its crypto platform investments vs. HOOD’s efficient PFOF/interest model.
- COIN’s 48.6% revenue growth, outpacing traditional finance peers but trailing HOOD, signals robust retail crypto/equity market engagement.
- COIN’s 19.4% stock drop, underperforming peers with a 30.1 PE, reflects crypto volatility and regulatory uncertainty.
Here’s how Coinbase Global stacks up across size, valuation, and profitability versus key peers.
| COIN | HOOD | ICE | PYPL | MGLD | SPGI | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 63.9 | 102.5 | 92.2 | 57.7 | 0.0 | 152.0 |
| Revenue ($ Bil) | 7.0 | 4.2 | 12.6 | 32.9 | 0.0 | 15.0 |
| PE Ratio | 30.1 | 58.0 | 32.1 | 13.0 | -8.5 | 35.1 |
| LTM Revenue Growth | 48.6% | 74.6% | 16.3% | 4.5% | -10.2% | 9.0% |
| LTM Operating Margin | 27.0% | 47.7% | 38.2% | 19.2% | -19.8% | 40.2% |
| LTM FCF Margin | 25.8% | 26.6% | 32.5% | 16.9% | -10.3% | 36.4% |
| 12M Market Return | -19.4% | 186.7% | 4.6% | -33.1% | -39.3% | -0.5% |
For more details on Coinbase Global, read Buy or Sell COIN Stock. Below we compare COIN’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 48.6% | – | 111.2% | -2.7% | -59.3% |
| HOOD | 74.6% | – | 58.2% | 37.3% | -25.2% |
| ICE | 16.3% | – | 18.8% | 2.8% | 5.1% |
| PYPL | 4.5% | – | 6.8% | 8.2% | 8.5% |
| MGLD | -10.2% | -8.2% | -5.9% | -7.8% | |
| SPGI | 9.0% | – | 13.7% | 11.8% | 34.8% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 27.0% | – | 34.1% | -1.7% | -61.0% |
| HOOD | 47.7% | – | 35.8% | -28.5% | -71.1% |
| ICE | 38.2% | – | 37.5% | 40.0% | 38.7% |
| PYPL | 19.2% | – | 18.1% | 16.6% | 14.7% |
| MGLD | -19.8% | -22.2% | -14.8% | 4.1% | |
| SPGI | 40.2% | – | 38.6% | 32.4% | 27.0% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 30.1 | – | 23.8 | 432.3 | -3.0 |
| HOOD | 58.0 | – | 23.3 | -21.0 | -7.0 |
| ICE | 32.1 | – | 31.0 | 30.6 | 39.7 |
| PYPL | 13.0 | – | 21.2 | 16.0 | 34.0 |
| MGLD | -8.5 | -12.6 | -10.5 | 52.0 | |
| SPGI | 35.1 | – | 40.3 | 53.4 | 32.7 |
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