Coinbase Global Stock vs Competition: Who Wins?
Coinbase Global (COIN) stock has significantly underperformed over the past year with a -47% market return, lagging behind peers like Robinhood (HOOD) and CME Group (CME) which saw positive returns. However, how does it truly measure up against peers navigating the evolving digital asset and fintech landscape? A closer look reveals strong revenue growth of 46.2% and a moderate valuation with a PE Ratio of 11.93, yet mixed profitability (operating margin of 28.3% and FCF margin of 4.2%). Upside potential may be limited if traditional financial players like CME Group or rapidly scaling fintechs such as Robinhood continue to capture market share.
- COIN’s 28.3% operating margin, while high, trails CME’s 65.0%, reflecting CME’s less capital-intensive exchange model.
- COIN’s 46.2% LTM revenue growth outpaces PYPL/CME, but lags HOOD/BKKT due to diverse crypto market product adoption.
- COIN’s 46.9% stock decline (1Y) and 11.9 P/E indicate cautious investor sentiment amid crypto market volatility.
Here’s how Coinbase Global stacks up across size, valuation, and profitability versus key peers.
| COIN | HOOD | PYPL | BKKT | CME | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 38.4 | 64.6 | 37.2 | 0.1 | 107.0 |
| Revenue ($ Bil) | 7.7 | 4.2 | 33.2 | 3.9 | 6.4 |
| PE Ratio | 11.9 | 29.5 | 7.1 | -3.1 | 28.4 |
| LTM Revenue Growth | 46.2% | 74.6% | 4.3% | 105.3% | 5.8% |
| LTM Operating Margin | 28.3% | 47.7% | 19.3% | -1.9% | 65.0% |
| LTM FCF Margin | 4.2% | 26.6% | 16.8% | -3.0% | 63.8% |
| 12M Market Return | -46.9% | 34.1% | -49.5% | -31.0% | 25.4% |
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
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 46.2% | – | 111.2% | -2.7% | -59.3% |
| HOOD | 74.6% | – | 58.2% | 37.3% | -25.2% |
| PYPL | 4.3% | 4.3% | 6.8% | 8.2% | |
| BKKT | 105.3% | – | 347.4% | 1287.5% | 50.9% |
| CME | 5.8% | – | 9.9% | 11.1% | 7.0% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 28.3% | – | 34.1% | -1.7% | -61.0% |
| HOOD | 47.7% | – | 35.8% | -28.5% | -71.1% |
| PYPL | 19.3% | 19.3% | 18.1% | 16.6% | |
| BKKT | -1.9% | – | -2.4% | -16.4% | -315.4% |
| CME | 65.0% | – | 64.1% | 61.6% | 60.1% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| COIN | 11.9 | – | 21.7 | 617.1 | -14.7 |
| HOOD | 29.5 | – | 70.6 | -61.4 | -10.9 |
| PYPL | 7.1 | 10.7 | 21.2 | 16.0 | |
| BKKT | -3.1 | – | -1.3 | -1.2 | -0.3 |
| CME | 28.4 | – | 27.8 | 25.8 | 28.1 |
Still not sure about COIN stock? Consider a portfolio approach.
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