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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. COIN Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Coinbase Global (COIN)

Market Price (9/18/2025): $322.07 | Market Cap: $81.8 Bil
Sector: Financials | Industry: Financial Exchanges & Data

Coinbase Global (COIN)

Market Price (9/18/2025): $322.07
Market Cap: $81.8 Bil
Sector: Financials
Industry: Financial Exchanges & Data

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75%		  Expensive valuation multiples
P/SPrice/Sales ratio is 12x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 49x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 41x, P/EPrice/Earnings or Price/(Net Income) is 55x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%		  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 75%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%
2 Expensive valuation multiples
P/SPrice/Sales ratio is 12x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 49x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 41x, P/EPrice/Earnings or Price/(Net Income) is 55x
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%

Market Valuation

 9/18/252024202320222021
Share Price CYE$322.07$248.30$173.92$35.39$252.37
Market Cap CYE ($ Bil)81.862.541.78.054.0
Total Debt ($ Bil)4.34.33.03.53.5
Total Cash ($ Bil)10.19.55.55.37.2
Enterprise Value ($ Bil)75.966.844.711.557.5
Valuation Ratios     
P/S TTM11.89.413.22.55.7
P/EBIT TTM49.020.36926.1-2.614.6
P/E TTM55.723.8432.3-3.012.3
Sector Ratios     
P/S TTM (Sector)3.23.12.82.83.4
P/EBIT TTM (Sector)6.96.87.17.17.0
P/E TTM (Sector)12.811.610.19.410.0
 9/18/2520242023
Share Price CYE$322.07$248.30$173.92
Market Cap CYE ($ Bil)81.862.541.7
Total Debt ($ Bil)4.34.33.0
Total Cash ($ Bil)10.19.55.5
Enterprise Value ($ Bil)75.966.844.7
Valuation Ratios   
P/S TTM11.89.413.2
P/EBIT TTM49.020.36926.1
P/E TTM55.723.8432.3
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)6.96.87.1
P/E TTM (Sector)12.811.610.1

Market Cap Chart

Business Description

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
COIN Return---86%391%43%29%28%
Peers Return32%15%-38%27%56%48%172%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ICE, HOOD, PYPL, SPGI, CME.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Coinbase Global (COIN)

 COINBetter Performance than COIN
MetricValueIndustry (Financial Exchanges & Data)
Rev Chg LTM75.2%
Rev Chg 3Y Avg18.6%
Op Mgn LTM33.0%SPGI (39.2%), ICE (37.5%), CME (65.3%), MCO (42.5%), MSCI (53.9%)
CFO/Rev LTM28.2%SPGI (38.0%), ICE (37.5%), CME (65.1%), MCO (36.6%), NDAQ (29.1%)
FCF/Rev LTM28.2%SPGI (36.8%), ICE (30.9%), CME (63.7%), MCO (32.4%), MSCI (45.5%)
Total Yield1.8%SPGI (3.1%), ICE (3.9%), CME (6.7%), MCO (3.1%), NDAQ (3.9%)
 COINBetter Performance than COIN
MetricValueAll Other Sectors
Rev Chg LTM75.2%ALAB (163.8%), CRDO (175.8%), SW (163.8%), NBIS (542.6%), QXO (3313.1%)
Rev Chg 3Y Avg18.6%NVDA (92.0%), AVGO (24.0%), LLY (23.4%), PLTR (25.7%), APP (23.7%)
Op Mgn LTM33.0%NVDA (58.1%), MSFT (45.6%), META (42.9%), AVGO (39.0%), LLY (43.0%)
CFO/Rev LTM28.2%NVDA (46.6%), MSFT (48.3%), GOOGL (36.0%), META (56.4%), AVGO (42.4%)
FCF/Rev LTM28.2%NVDA (43.6%), META (30.7%), AVGO (41.6%), PLTR (49.7%), ABBV (31.3%)
Total Yield1.8%NVDA (2.1%), MSFT (3.3%), AAPL (3.2%), GOOGL (4.1%), AMZN (2.9%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Wait For A Dip To Buy Coinbase Global StockBuy or Fear 
2Will You Be Comfortable Buying Coinbase Global Stock?Return 
3COIN's One-Month Drop Offers a Chance to Reevaluate LLYCounter-Intuitive Comparisons 
4COIN Drops 23% in a Month, But Does LPLA Offer Better Fundamentals?Counter-Intuitive Comparisons 
5How Does COIN Stack Up Against Its Peers?Peer Comparison 
6Better Bet Than COIN Stock: Pay Less Than Coinbase Global To Get More From CALM, PTCT   
7Why Coinbase Global Stock Moved: COIN Stock Has Gained 827% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)  
8Day 7 of Loss Streak for Coinbase Global Stock with -12% Return (vs. 50% YTD) [7/29/2025]Notification 
9Day 6 of Loss Streak for Coinbase Global Stock with -9.6% Return (vs. 53% YTD) [7/28/2025]Notification 
10COIN Dip Buy Analysis  
11ARTICLES  
12COIN Drops 19% In A Month, Wait For A Dip To Buy The Stock August 26th, 2025
13COIN Dropped 22% In A Month. Have You Fully Evaluated The Risk? August 25th, 2025
14COIN Down 18% In A Month. How Confident Are You In The Stock? August 13th, 2025
15COIN Down 17% In A Day. How Confident Are You In The Stock? August 2nd, 2025
16S&P 500 Movers | Winners: MPWR, ALGN, FSLR | Losers: EMN, COIN, IR August 2nd, 2025
Title
0DASHBOARDS
1COIN Drops 19% In A Month, Wait For A Dip To Buy The Stock
2COIN Dropped 22% In A Month. Have You Fully Evaluated The Risk?
3COIN Down 18% In A Month. How Confident Are You In The Stock?
4COIN Down 17% In A Day. How Confident Are You In The Stock?
5S&P 500 Movers | Winners: MPWR, ALGN, FSLR | Losers: EMN, COIN, IR
6ARTICLES
7Wait For A Dip To Buy Coinbase Global Stock
8Will You Be Comfortable Buying Coinbase Global Stock?
9COIN's One-Month Drop Offers a Chance to Reevaluate LLY
10COIN Drops 23% in a Month, But Does LPLA Offer Better Fundamentals?
11How Does COIN Stack Up Against Its Peers?
12Better Bet Than COIN Stock: Pay Less Than Coinbase Global To Get More From CALM, PTCT 
13Why Coinbase Global Stock Moved: COIN Stock Has Gained 827% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
14Day 7 of Loss Streak for Coinbase Global Stock with -12% Return (vs. 50% YTD) [7/29/2025]
15Day 6 of Loss Streak for Coinbase Global Stock with -9.6% Return (vs. 53% YTD) [7/28/2025]
16COIN Dip Buy Analysis

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11931.7%11931.7%
2GIBOGIBO10714.0% 
3LNZALanzaTech Global8455.2%-86.3%
4GTIGraphjet Technology3998.4%-93.1%
5GWAVGreenwave Technology Solutions3582.8%-91.4%
6QMMMQMMM3409.6%8153.1%
7ECDAECD Automotive Design2715.2%307.9%
8OESXOrion Energy Systems1373.7%14.2%
9OPOceanPal1266.5%-95.6%
10BCTXBriaCell Therapeutics1032.4%-89.8%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-94.5%-96.0%
2STFSStar Fashion Culture-92.3%-97.9%
3ELPWElong Power-91.1%-76.9%
4NXTTNext Technology-90.1%-95.4%
5EPIXESSA Pharma-89.4%-8.9%
6NAKAKindly MD-88.1% 
7BINIBollinger Innovations-87.6%-100.0%
8JEM707 Cayman-87.4%-98.2%
9YAASYouxin Technology-83.3%-98.4%
10NEONNeonode-82.5%-51.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Coinbase Global

Financials

COINICEHOODPYPLSPGICMEMedian
NameCoinbase.Intercon.Robinhoo.PayPal S&P Glob.CME  
Mkt Price320.56172.25118.6468.62544.10262.40217.32
Mkt Cap81.498.9104.966.5166.494.496.6
Rev LTM6,96112,1893,26032,29214,6996,4449,575
Op Inc LTM2,3004,5671,2706,1615,7654,2094,388
FCF LTM1,9633,7701,0565,2925,4114,1073,939
FCF 3Y Avg5623,369865,2164,4353,5693,469
CFO LTM1,9634,5661,1086,0665,5834,1964,381
CFO 3Y Avg6013,9721265,8994,5753,6533,812

Growth & Margins

COINICEHOODPYPLSPGICMEMedian
NameCoinbase.Intercon.Robinhoo.PayPal S&P Glob.CME  
Rev Chg LTM75.2%19.1%59.6%4.1%10.7%11.2%15.1%
Rev Chg 3Y Avg18.6%10.0%30.0%7.0%15.7%10.0%12.8%
Rev Chg Q24.2%15.3%50.0%5.1%5.8%10.4%12.8%
QoQ Delta Rev Chg LTM6.0%3.6%10.5%1.3%1.4%2.5%3.1%
Op Mgn LTM33.0%37.5%39.0%19.1%39.2%65.3%38.2%
Op Mgn 3Y Avg-8.0%38.6%-8.7%17.8%35.2%62.8%26.5%
QoQ Delta Op Mgn LTM-1.0%-0.1%3.1%0.3%0.1%0.4%0.2%
CFO/Rev LTM28.2%37.5%34.0%18.8%38.0%65.1%35.7%
CFO/Rev 3Y Avg4.4%37.1%-3.3%19.2%33.9%62.6%26.5%
FCF/Rev LTM28.2%30.9%32.4%16.4%36.8%63.7%31.7%
FCF/Rev 3Y Avg3.2%31.5%-5.2%16.9%32.9%61.1%24.2%

Valuation

COINICEHOODPYPLSPGICMEMedian
NameCoinbase.Intercon.Robinhoo.PayPal S&P Glob.CME  
Mkt Cap81.498.9104.966.5166.494.496.6
P/S11.78.132.22.111.314.611.5
P/EBIT48.721.582.610.628.218.824.8
P/E55.435.566.014.241.525.038.5
P/CFO41.521.794.711.029.822.526.2
Total Yield1.8%3.9%1.5%7.0%3.1%6.7%3.5%
Dividend Yield0.0%1.1%0.0%0.0%0.7%2.7%0.3%
FCF Yield 3Y Avg-1.0%4.2%-1.9%7.8%3.1%4.6%3.6%
D/E0.10.20.10.20.10.00.1
Net D/E-0.10.2-0.00.00.10.00.0

Returns

COINICEHOODPYPLSPGICMEMedian
NameCoinbase.Intercon.Robinhoo.PayPal S&P Glob.CME  
1M Rtn-0.1%-2.9%3.1%-1.3%-1.1%-2.5%-1.2%
3M Rtn8.6%-3.9%51.4%0.1%8.4%-3.1%4.3%
6M Rtn68.9%-0.3%177.2%-2.0%10.3%-0.2%5.0%
12M Rtn97.3%7.0%424.0%-4.4%4.9%25.6%16.3%
3Y Rtn333.2%84.2%1,057.5%-27.0%61.2%57.4%72.7%
1M Excs Rtn-2.4%-5.3%0.8%-3.7%-3.5%-4.8%-3.6%
3M Excs Rtn16.0%-14.9%48.0%-13.2%-1.5%-12.6%-7.1%
6M Excs Rtn59.4%-17.3%178.3%-17.9%-6.2%-18.2%-11.8%
12M Excs Rtn79.3%-9.1%420.2%-19.4%-11.8%9.0%-0.0%
3Y Excs Rtn227.7%12.2%917.0%-90.3%-10.4%-9.9%1.1%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q32022Q2
Period End3/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/20226/30/2022
Filing Date5/8/20252/13/202510/30/20248/1/20245/2/20242/15/202411/2/20238/3/20235/4/20232/21/202311/3/20228/9/2022
Key Financials Quarterly            
Total Revenue2,0342,2721,2051,4501,638954674708773629590808
Ebitda1361,550120-51,48618187-20-103-509-582-1,175
Operating Income7401,01716637767490-74-711-478-558-1,002
Net Income661,29175361,176273-2-97-79-557-545-1,094
EPS0.265.130.300.154.841.16-0.01-0.42-0.34-2.44-2.43-4.95
Key Financials TTM            
Total Revenue TTM6,9616,5645,2464,7153,9733,1082,7842,7002,8003,1945,0645,785
Ebitda TTM1,8013,1511,7811,7491,734146-544-1,214-2,369-2,822-1,378-501
Operating Income TTM2,3002,2341,3071,067619-54-622-1,106-2,036-2,592-1,060-210
Net Income TTM1,4682,5791,5611,4841,35095-736-1,278-2,274-2,625-1,228-277
Growth Rates Quarterly            
Total Revenue Growth24.2%138.2%78.8%104.8%112.0%51.6%14.2%-12.4%-33.8%-74.8%-55.0%-63.7%
EBITDA Growth-90.8%756.2%37.0%73.9%1543.5%135.6%115.0%98.3%81.5%-154.4%-297.4%-233.2%
Operating Income Growth9.8%1025.2%322.9%629.7%45447.5%118.9%86.6%92.9%100.3%-145.4%-291.1%-214.5%
Net Income Growth-94.4%372.2%3433.1%137.1%1590.9%149.1%99.6%91.1%81.6%-166.3%-234.1%-168.1%
Margins Quarterly            
EBITDA Margin6.7%68.3%9.9%-0.4%90.7%19.0%13.0%-2.8%-13.3%-80.9%-98.6%-145.3%
Operating Income Margin36.4%44.8%13.8%26.0%41.2%9.5%-11.0%-10.0%0.2%-76.0%-94.4%-124.0%
Net Income Margin3.2%56.8%6.3%2.5%71.8%28.7%-0.3%-13.8%-10.2%-88.5%-92.3%-135.3%
Cash & Debt            
Total Cash10,1489,5488,4858,0387,3135,5255,5025,4825,3215,2865,3756,044
Total Debt4,3224,3204,2314,2284,2342,9843,0943,3553,4203,4903,4753,483
Net Debt / (Cash)-5,826-5,228-4,254-3,810-3,079-2,542-2,407-2,127-1,902-1,796-1,900-2,561
Cash Flows Quarterly            
FCF from Operations-183965697484411-5314151463-745-397-351
Cash Flows TTM            
FCF from Operations TTM1,9632,5571,5871,204871923183-529-1,031-1,585-4,539-3,799
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-4002.2%82.5%155.9%153.9%18.7%-15.1%-13.7%0.1%-96.6%-130.7%-830.3%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-2233.1%160.7%106.0%38.2%-2.8%-29.8%-46.6%-83.1%-114.9%-56.2%-19.9%

Price Behavior

COIN Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta4.684.433.851.902.352.50
Up Beta2.562.093.311.642.082.17
Down Beta11.8110.798.211.621.932.17
Up Capture171%274%335%455%1090%29817%
Bmk +ve Days10223571142415
Stock +ve Days11213262121362
Down Capture585%484%288%174%159%109%
Bmk -ve Days11192754106334
Stock -ve Days10203063127388

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity11,893,815
Short Interest: % Change Since 8152025-5.2%
Average Daily Volume8,072,083
Days-to-Cover Short Interest1.47
Basic Shares Quantity253,878,000
Short % of Basic Shares4.7%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/2025-16.7%-17.7%-19.4%
5/8/2025-3.5%18.4%24.3%
2/13/2025-8.0%-21.0%-36.6%
10/30/2024-15.3%20.1%39.9%
8/1/2024-3.9%-9.6%-13.8%
5/2/2024-2.4%-8.0%1.1%
2/15/20248.8%0.2%44.6%
11/2/20231.4%9.8%66.8%
...
SUMMARY STATS   
# Positive679
# Negative12119
Median Positive6.4%9.8%24.3%
Median Negative-3.9%-8.1%-16.7%
Max Positive18.3%22.6%66.8%
Max Negative-26.4%-21.0%-36.6%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025731202510-Q 6/30/2025
3312025508202510-Q 3/31/2025
12312024213202510-K 12/31/2024
93020241030202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023215202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022221202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022809202210-Q 6/30/2022
3312022510202210-Q 3/31/2022
12312021225202210-K 12/31/2021
93020211110202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Brock Lawrence JCHIEF PEOPLE OFFICER8262025Sell299.43500149,7151,760,948Form
1Jones Jennifer N.CHIEF ACCOUNTING OFFICER8262025Sell300.521,756527,713 Form
2HAAS ALESIA JChief Financial Officer8192025Sell319.80660211,07129,699,859Form
3HAAS ALESIA JChief Financial Officer7172025Sell390.0013050,70037,922,040Form
4HAAS ALESIA JChief Financial Officer6272025Sell360.203,0001,080,60035,071,233Form

Industry Resources

External Quote Links


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