Coinbase Global (COIN)
Market Price (3/30/2026): $160.63 | Market Cap: $43.1 BilSector: Financials | Industry: Financial Exchanges & Data
Coinbase Global (COIN)
Market Price (3/30/2026): $160.63Market Cap: $43.1 BilSector: FinancialsIndustry: Financial Exchanges & Data
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%, CFO LTM is 2.4 Bil, FCF LTM is 2.4 Bil | Weak multi-year price returns2Y Excs Rtn is -59% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/EPrice/Earnings or Price/(Net Income) is 34x |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -22% | |
| Attractive yieldFCF Yield is 5.6% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% | |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, and Digital Asset Custody. | Key risksCOIN key risks include [1] ongoing legal action from regulators like the SEC and [2] the potential for customer assets to be treated as company property in a bankruptcy proceeding. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%, CFO LTM is 2.4 Bil, FCF LTM is 2.4 Bil |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -48% |
| Attractive yieldFCF Yield is 5.6% |
| Megatrend and thematic driversMegatrends include Crypto & Blockchain, and Digital & Alternative Assets. Themes include Cryptocurrency Exchanges, and Digital Asset Custody. |
| Weak multi-year price returns2Y Excs Rtn is -59% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/EPrice/Earnings or Price/(Net Income) is 34x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -22% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Key risksCOIN key risks include [1] ongoing legal action from regulators like the SEC and [2] the potential for customer assets to be treated as company property in a bankruptcy proceeding. |
Qualitative Assessment
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1. Broader Cryptocurrency Market Downturn and Deleveraging.
The primary driver of Coinbase's stock decline was a significant downturn across the broader cryptocurrency market, often referred to as the "2026 Crypto Crash," which began in late 2025. This period saw a record liquidation event in October 2025, wiping out over $19 billion in leveraged positions within a single day. The total cryptocurrency market capitalization plummeted from $4.38 trillion in 2025 to approximately $2.3 trillion by February 2026, representing a loss of over $2 trillion in global wealth. Bitcoin, the leading cryptocurrency, experienced a substantial retracement from its all-time high of $126,000 in October 2025 to lows around $60,000 by February 2026, and fell 23.5% in Q4 2025. This widespread market depreciation directly impacted Coinbase's trading volumes and, consequently, its transaction-based revenue.
2. Weak Q4 2025 Earnings and Conservative Q1 2026 Guidance.
Coinbase's Q4 2025 financial results, reported on February 12, 2026, fell short of analyst expectations. The company posted an Earnings Per Share (EPS) of $0.66, missing the consensus estimate of $0.83 by $0.17. Quarterly revenue also declined significantly, falling 21.6% year-over-year to $1.78 billion, below analysts' projections of $1.86 billion. Adding to investor concerns, Coinbase provided a soft outlook for Q1 2026, forecasting subscription and services revenue between $550 million and $630 million, and transaction revenue around $420 million, which was perceived by the market as conservative guidance.
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Stock Movement Drivers
Fundamental Drivers
The -40.9% change in COIN stock from 11/30/2025 to 3/29/2026 was primarily driven by a -58.2% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 272.82 | 161.14 | -40.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,672 | 7,181 | -6.4% |
| Net Income Margin (%) | 41.9% | 17.6% | -58.2% |
| P/E Multiple | 22.3 | 34.3 | 54.0% |
| Shares Outstanding (Mil) | 263 | 268 | -2.1% |
| Cumulative Contribution | -40.9% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| COIN | -40.9% | |
| Market (SPY) | -5.3% | 53.3% |
| Sector (XLF) | -10.0% | 44.9% |
Fundamental Drivers
The -47.1% change in COIN stock from 8/31/2025 to 3/29/2026 was primarily driven by a -57.0% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 304.54 | 161.14 | -47.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7,008 | 7,181 | 2.5% |
| Net Income Margin (%) | 40.8% | 17.6% | -57.0% |
| P/E Multiple | 27.2 | 34.3 | 26.3% |
| Shares Outstanding (Mil) | 255 | 268 | -4.9% |
| Cumulative Contribution | -47.1% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| COIN | -47.1% | |
| Market (SPY) | 0.6% | 59.5% |
| Sector (XLF) | -10.8% | 45.3% |
Fundamental Drivers
The -25.3% change in COIN stock from 2/28/2025 to 3/29/2026 was primarily driven by a -55.3% change in the company's Net Income Margin (%).| (LTM values as of) | 2282025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 215.62 | 161.14 | -25.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,564 | 7,181 | 9.4% |
| Net Income Margin (%) | 39.3% | 17.6% | -55.3% |
| P/E Multiple | 21.0 | 34.3 | 63.2% |
| Shares Outstanding (Mil) | 252 | 268 | -6.3% |
| Cumulative Contribution | -25.3% |
Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| COIN | -25.3% | |
| Market (SPY) | 9.8% | 56.1% |
| Sector (XLF) | -7.1% | 48.2% |
Fundamental Drivers
The 148.6% change in COIN stock from 2/28/2023 to 3/29/2026 was primarily driven by a 124.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282023 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 64.83 | 161.14 | 148.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,194 | 7,181 | 124.8% |
| P/S Multiple | 4.6 | 6.0 | 30.8% |
| Shares Outstanding (Mil) | 227 | 268 | -15.5% |
| Cumulative Contribution | 148.6% |
Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| COIN | 148.6% | |
| Market (SPY) | 69.4% | 48.1% |
| Sector (XLF) | 40.5% | 40.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| COIN Return | -23% | -86% | 391% | 43% | -9% | -23% | -47% |
| Peers Return | -14% | -56% | 40% | 48% | 33% | -17% | -14% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| COIN Win Rate | 33% | 33% | 75% | 50% | 58% | 0% | |
| Peers Win Rate | 42% | 35% | 54% | 48% | 54% | 25% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| COIN Max Drawdown | -33% | -87% | -6% | -33% | -39% | -38% | |
| Peers Max Drawdown | -24% | -59% | -19% | -30% | -29% | -24% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HOOD, PYPL, BKKT, CME.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)
How Low Can It Go
| Event | COIN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -90.9% | -25.4% |
| % Gain to Breakeven | 998.6% | 34.1% |
| Time to Breakeven | 911 days | 464 days |
Compare to HOOD, PYPL, BKKT, CME
In The Past
Coinbase Global's stock fell -90.9% during the 2022 Inflation Shock from a high on 11/9/2021. A -90.9% loss requires a 998.6% gain to breakeven.
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About Coinbase Global (COIN)
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Here are 1-3 brief analogies for Coinbase Global (COIN):
- Like a PayPal or Venmo, but specifically for buying, selling, and holding cryptocurrencies.
- The NASDAQ or New York Stock Exchange for cryptocurrencies.
- The Fidelity or Schwab for the crypto economy.
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- Retail Trading Platform: Provides individual users with a platform to buy, sell, and store various cryptocurrencies.
- Institutional Trading Services: Offers a deep liquidity pool and advanced tools for institutional clients to transact in crypto assets.
- Developer & Business Services: Provides technology and APIs for businesses and developers to build crypto applications and securely accept crypto assets as payment.
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Major Customers of Coinbase Global (COIN)
Coinbase Global serves a diverse customer base, including both individuals and businesses. Historically, individual users have formed a significant portion of its revenue. Therefore, the company primarily serves the following categories of customers:
- Individual/Retail Users: These are everyday people who use Coinbase's platform to buy, sell, store, send, and receive various cryptocurrencies. Coinbase offers them "the primary financial account in the cryptoeconomy." This segment includes both casual investors and more active retail traders.
- Institutional Investors and Businesses: This category encompasses hedge funds, asset managers, corporations, family offices, and other financial entities that require a secure, regulated, and liquid platform for large-volume cryptocurrency trading, prime brokerage services, and secure custody of digital assets. Coinbase provides "a marketplace with a pool of liquidity for transacting in crypto assets for institutions."
- Ecosystem Partners, Developers, and Merchants: This segment includes businesses and developers who leverage Coinbase's technology and services (such as APIs) to build crypto-based applications, integrate cryptocurrency payments into their services, or securely accept crypto assets as payment from their own customers. Coinbase offers "technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment."
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- Amazon (AMZN)
- Alphabet (GOOGL)
- Metropolitan Commercial Bank (MCB)
- Cross River Bank
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Brian Armstrong
Chief Executive Officer
Brian Armstrong co-founded Coinbase Global, Inc. in 2012 and has served as CEO since its inception. Prior to founding Coinbase, he worked as a software engineer at Airbnb and was the founder and CEO of Universitytutor.com. He also served as a consultant at Deloitte & Touche LLP.
Alesia Haas
Chief Financial Officer
Alesia Haas joined Coinbase Global, Inc. as Chief Financial Officer in 2018. She previously served as CFO at Sculptor Capital Management (formerly Oz Management) and as CFO and Head of Strategy at OneWest Bank. OneWest Bank was acquired by CIT Group. Her prior experience also includes senior finance, investment, and strategy roles with Merrill Lynch and General Electric.
Emilie Choi
President & Chief Operating Officer
Emilie Choi has served as Chief Operating Officer since 2019 and President since 2020. Before joining Coinbase in 2018, she spent nearly a decade at LinkedIn as Vice President and Head of Corporate Development, overseeing more than 40 acquisitions, including the purchase of Lynda.com. Her career also includes strategic roles at Warner Bros. and Yahoo!.
Paul Grewal
Chief Legal Officer & Secretary
Paul Grewal joined Coinbase as Chief Legal Officer & Secretary in August 2020. He previously served as Vice President and Deputy General Counsel at Facebook (now Meta) from 2016 to 2020. Grewal also served as a U.S. Magistrate Judge for the Northern District of California from 2010 to 2016.
Surojit Chatterjee
Chief Product Officer
Surojit Chatterjee joined Coinbase as Chief Product Officer in early 2020 after spending 11 years at Google. At Google, he was most recently Vice President of Product, leading Google Shopping. Prior to that, he was Head of Product at Flipkart, a popular Indian e-commerce site, and a founding member of Google's mobile search ads product.
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The key risks to Coinbase Global (COIN) include regulatory uncertainty and scrutiny, cryptocurrency market volatility, and intense competition.
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Regulatory Uncertainty and Scrutiny: Coinbase faces significant risks due to the evolving and often unclear regulatory landscape for cryptocurrencies across various jurisdictions. The company has been subject to enforcement actions and lawsuits from regulatory bodies like the SEC, which alleges that certain tokens traded on its platform are unregistered securities and that Coinbase operates as an unregistered exchange, broker, and clearing agency. This regulatory uncertainty creates operational challenges, increased compliance costs, and potential fines or penalties. The lack of a clear federal framework for digital assets, particularly in the U.S., means that Coinbase must navigate a complex and fragmented set of rules, which can limit its product offerings and expansion capabilities.
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Cryptocurrency Market Volatility: Coinbase's revenue, particularly its transaction revenue, is highly dependent on the trading volumes and prices of crypto assets, which are inherently volatile. Significant price swings and market downturns, often referred to as "crypto winters," can lead to substantially reduced trading activity and, consequently, lower revenue for Coinbase. While Coinbase is working to diversify its revenue streams through subscription and services, its core business remains tightly coupled with the boom-and-bust cycles of the crypto market, making it susceptible to broad market movements.
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Competition: Coinbase operates in a fiercely competitive environment, facing challenges from numerous other centralized and decentralized crypto exchanges, as well as increasing participation from traditional financial institutions and brokerages. This intense competition can lead to pressure on trading fees and the need for Coinbase to continuously innovate and differentiate its services to retain and attract users. Competitors may offer a wider selection of altcoins or more advanced trading features, potentially at lower costs, thereby challenging Coinbase's market share.
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The clear emerging threat to Coinbase Global is the increasing adoption and technological advancement of decentralized exchanges (DEXs) and the broader movement towards decentralized finance (DeFi) and self-custody. DEXs allow users to trade cryptocurrencies directly from their digital wallets without the need for a centralized intermediary like Coinbase, reducing counterparty risk and often offering greater privacy and control over assets. As DEXs become more user-friendly, liquid, and integrated into Web3 ecosystems, they pose a fundamental challenge to Coinbase's core business model as a centralized crypto exchange and financial services provider, potentially leading to a shift in user preference away from centralized platforms.
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Coinbase Global (COIN) operates within several significant addressable markets related to the cryptoeconomy, encompassing retail and institutional cryptocurrency services, crypto payment processing, and blockchain technology solutions.
Cryptocurrency Market (Retail and Institutional)
- The global cryptocurrency market size was valued at approximately USD 2.49 trillion in 2024. This market is projected to reach between USD 5.73 trillion by 2033 and USD 6.29 trillion by 2033. Another estimate places the global cryptocurrency market at USD 2.73 trillion in 2025, with a projection to reach USD 6.39 trillion by 2034.
- For the retail segment, the global retail & e-commerce cryptocurrency market was valued at US$ 539.9 million in 2025 and is estimated to grow to US$ 1,074.7 million by 2030. Retail users are also projected to see the fastest growth at a 28.33% Compound Annual Growth Rate (CAGR) through 2031.
- Institutional users constituted a significant portion of the cryptocurrency market, holding 63.24% of the global market in 2025.
- Regionally, North America generated the highest revenue in the cryptocurrency market in 2023. Europe held a significant share of over 39.5% in 2025. Asia Pacific also represented a major segment, dominating the global cryptocurrency market with a 31.0% revenue share in 2025.
Crypto Payment Gateway Market
- The global crypto payment gateway market was valued at USD 1.2 billion in 2023. It is projected to grow to approximately USD 4.74 billion by 2030 or USD 5.4 billion by 2031.
- North America was identified as the largest region in the crypto payment gateway market in 2025.
Blockchain as a Service (BaaS) Market
- The global Blockchain as a Service (BaaS) market size was USD 3.25 billion in 2024. This market is projected to reach between USD 35.67 billion by 2033 and USD 84.6 billion by 2031.
- North America dominated the blockchain as a service market in 2025.
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Here are 3-5 expected drivers of future revenue growth for Coinbase Global (COIN) over the next 2-3 years:
- Growth in Subscription and Services Revenue: Coinbase anticipates continued revenue growth from its subscription and services segment, which includes blockchain rewards (such as staking), the expansion of its stablecoin offerings (like USDC), and increasing subscriber numbers for its Coinbase One membership program. This diversification aims to reduce reliance on volatile transaction fees.
- Expansion of Institutional Offerings and Adoption: Increased engagement from institutional investors is expected to drive future revenue. This includes a surge in institutional trading volume, broader adoption of Coinbase Prime's suite of products (including custody, trading, financing, and staking), and the scaling of derivative offerings.
- New Product Development and Ecosystem Growth: Coinbase is focused on launching and expanding new products and services that foster utility in the crypto economy. Key initiatives include the growth of its Layer-2 network, Base, which has shown potential for significant annual revenue, and the development of the "Everything Exchange" to offer a wider range of trading opportunities.
- International Market Expansion: The company is actively pursuing growth in international markets by improving payment rails and localization efforts, aiming to increase its global revenue share.
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Share Repurchases
- In January 2026, Coinbase's board approved an additional $2 billion share repurchase authorization, which also covers long-term debt retirement.
- Coinbase completed a $1.7 billion share buyback program through February 10, 2026, which fully offset shareholder dilution from stock-based compensation for the fiscal year 2025.
- In October 2024, the board of directors authorized a $1 billion share repurchase program without an expiration date.
Share Issuance
- In Q1 2024, Coinbase raised $1.1 billion through a convertible note offering.
Inbound Investments
- No significant inbound investments by third-parties have been explicitly reported in the last 3-5 years for Coinbase Global Inc. in the provided search results, beyond its initial public offering in April 2021.
Outbound Investments
- Coinbase acquired LMX Labs, LLC in February 2022, which now operates as the Coinbase Derivatives Exchange, expanding its derivatives offerings.
- The company launched Coinbase International Exchange for non-U.S. customers and Coinbase Financial Markets for regulated futures trading in the U.S. in 2023, signaling strategic investments in global derivatives markets.
- Coinbase has made internal investments and acquisitions to expand into adjacent businesses such as prime brokerage and data analytics.
Capital Expenditures
- Coinbase reported capital expenditures of $83 million in 2021.
- Reported capital expenditures for 2022, 2023, 2024, and 2025 are listed as $0.00.
- The company anticipates increases in technology, development, general, and administrative expenses in 2024, indicating ongoing investment in its operational infrastructure and product expansion.
Latest Trefis Analyses
Trade Ideas
Select ideas related to COIN.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | NDAQ | Nasdaq | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | JEF | Jefferies Financial | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | ALAB | Astera Labs | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02272026 | PAYO | Payoneer Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02272026 | FOUR | Shift4 Payments | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02202026 | COIN | Coinbase Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.6% | 2.6% | -6.5% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 66.02 |
| Mkt Cap | 43.2 |
| Rev LTM | 6,521 |
| Op Inc LTM | 2,096 |
| FCF LTM | 2,426 |
| FCF 3Y Avg | 2,047 |
| CFO LTM | 2,426 |
| CFO 3Y Avg | 2,068 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.4% |
| Rev Chg 3Y Avg | 39.3% |
| Rev Chg Q | 3.7% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Mgn LTM | 20.3% |
| Op Mgn 3Y Avg | 18.0% |
| QoQ Delta Op Mgn LTM | -0.8% |
| CFO/Rev LTM | 33.8% |
| CFO/Rev 3Y Avg | 31.5% |
| FCF/Rev LTM | 33.8% |
| FCF/Rev 3Y Avg | 30.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 43.2 |
| P/S | 6.0 |
| P/EBIT | 19.2 |
| P/E | 25.9 |
| P/CFO | 17.8 |
| Total Yield | 3.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.2 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.4% |
| 3M Rtn | -30.6% |
| 6M Rtn | -45.8% |
| 12M Rtn | -7.4% |
| 3Y Rtn | 77.0% |
| 1M Excs Rtn | -3.2% |
| 3M Excs Rtn | -24.1% |
| 6M Excs Rtn | -42.6% |
| 12M Excs Rtn | -28.4% |
| 3Y Excs Rtn | 24.5% |
Price Behavior
| Market Price | $161.14 | |
| Market Cap ($ Bil) | 43.2 | |
| First Trading Date | 04/14/2021 | |
| Distance from 52W High | -61.6% | |
| 50 Days | 200 Days | |
| DMA Price | $188.92 | $281.41 |
| DMA Trend | down | down |
| Distance from DMA | -14.7% | -42.7% |
| 3M | 1YR | |
| Volatility | 85.9% | 75.3% |
| Downside Capture | 2.93 | 2.44 |
| Upside Capture | 426.79 | 282.24 |
| Correlation (SPY) | 56.9% | 54.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 6.60 | 4.54 | 3.92 | 3.70 | 2.22 | 2.53 |
| Up Beta | 4.12 | 4.65 | 4.48 | 2.65 | 1.73 | 2.25 |
| Down Beta | 5.08 | 4.36 | 3.84 | 3.68 | 1.85 | 2.08 |
| Up Capture | 859% | 381% | 255% | 400% | 744% | 14283% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 8 | 14 | 21 | 51 | 114 | 359 |
| Down Capture | 640% | 448% | 391% | 299% | 166% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 13 | 27 | 40 | 73 | 136 | 392 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -17.6% | 75.4% | 0.05 | - |
| Sector ETF (XLF) | -4.0% | 19.2% | -0.33 | 48.4% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 54.3% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 4.3% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 25.8% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 26.9% |
| Bitcoin (BTCUSD) | -23.7% | 44.2% | -0.49 | 64.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -13.4% | 86.1% | 0.22 | - |
| Sector ETF (XLF) | 9.1% | 18.7% | 0.37 | 41.4% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 52.7% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 5.3% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 9.3% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 35.7% |
| Bitcoin (BTCUSD) | 4.0% | 56.6% | 0.29 | 57.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COIN | |
|---|---|---|---|---|
| COIN | -6.9% | 86.1% | 0.22 | - |
| Sector ETF (XLF) | 12.0% | 22.1% | 0.50 | 41.4% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 52.7% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 5.3% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 9.3% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 35.7% |
| Bitcoin (BTCUSD) | 66.4% | 66.8% | 1.06 | 57.5% |
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 16.5% | 21.4% | 44.1% |
| 10/30/2025 | 4.6% | -10.1% | -19.9% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 9 |
| # Negative | 11 | 11 | 10 |
| Median Positive | 6.4% | 14.1% | 24.3% |
| Median Negative | -3.9% | -8.1% | -17.1% |
| Max Positive | 18.3% | 22.6% | 66.8% |
| Max Negative | -26.4% | -21.0% | -36.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/12/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/12/2026 | Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Subscription and Services Revenue | 550.00 Mil | 590.00 Mil | 630.00 Mil | -21.3% | Lowered | Guidance: 750.00 Mil for Q4 2025 | |
| Q1 2026 Technology & Development + General & Administrative Expenses | 925.00 Mil | 950.00 Mil | 975.00 Mil | 0 | Affirmed | Guidance: 950.00 Mil for Q4 2025 | |
| Q1 2026 Sales and Marketing Expenses | 215.00 Mil | 265.00 Mil | 315.00 Mil | 0 | Affirmed | Guidance: 265.00 Mil for Q4 2025 | |
| Q1 2026 Total Stock-based Compensation | 250.00 Mil | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wilson, Frederick R | Direct | Sell | 1062026 | 234.37 | 10,000 | 2,343,685 | 43,351,849 | Form | |
| 2 | Armstrong, Brian | Chairman and CEO | Direct | Sell | 12232025 | 250.15 | 40,000 | Form | ||
| 3 | Ehrsam, Frederick Ernest Iii | The Frederick Ernest Ehrsam III Living Trust | Sell | 12222025 | 252.82 | 1,375 | Form | |||
| 4 | Haas, Alesia J | CHIEF FINANCIAL OFFICER | Direct | Sell | 12172025 | 266.49 | 5,633 | 1,501,132 | 20,976,408 | Form |
| 5 | Haas, Alesia J | CHIEF FINANCIAL OFFICER | ACB 2021, LLC | Sell | 12172025 | 268.00 | 1,742 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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