COIN

Coinbase Global

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Financial Data & Stock Exchanges

Exchange

Nasdaq

County of HQ

United States

Next Earnings Date

05/14/26

Business Summary

COIN operates as a digital financial infrastructure platform facilitating trading, custody, and exchange services within the Financial Data & Stock Exchanges industry. It generates revenue primarily through transaction-based activity, spreads, and platform services tied to market participation. The moat is rooted in scale, liquidity aggregation, regulatory positioning, and institutional integration, which create switching costs and network density advantages. As transaction volume and institutional adoption deepen, the platform’s economics can benefit from operating leverage, turning incremental revenue into disproportionately higher profitability if cost discipline is maintained.

VALUATION

P/E

37.7

Market Cap ($M USD)

$44,325

Forward P/E

31.6

PEG

-

PRICE TO SALES

6.7

PRICE TO BOOK

3

EV / EBITDA

22.4

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$4.85

Next Year EPS Growth Estimate

$5.31

Next Year Revenue Growth Estimate

19.80%

Return on Equity (ROE)

8.50%

Operating Margin

20.30%

Debt-to-Equity

0.5

Piotroski F-Score

4

Altman Z-Score

3

Return on Invested Capital (ROIC)

7.10%%

Current Ratio

2.3

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At a Market Cap of $44,325M, COIN trades at 37.7x earnings and 31.6x forward earnings, which is not cheap in absolute terms but is defensible given a Return on Equity of 19.80% and a solid Altman Z-Score of 3 indicating low near-term bankruptcy risk. The balance sheet is not stretched with a Debt/Equity ratio of 20.30% and a Current Ratio of 2.3, suggesting adequate liquidity and moderate leverage. However, the lack of a PEG Forward metric (“-”) and a modest Operating Margin of 8.50% complicate the growth-adjusted valuation narrative. This is not a distressed mispricing; it is a cyclical growth platform priced for continued expansion, where execution must justify the premium multiple.

AI Exposure / Tech Reliance

As a Financial Data & Stock Exchanges player, COIN operates in a digital-first infrastructure layer that is inherently positioned to benefit from automation, AI-driven trading analytics, and algorithmic liquidity provision. The industry’s structural shift toward digitization and real-time financial data processing supports sustained technology investment. Firms in this segment that scale data, custody, and transaction infrastructure tend to compound advantages as markets become more automated and intelligence-driven.

The Bull Case

A GARP investor could justify ownership based on a 19.80% ROE and 7.10% ROIC, which signal the company is generating returns above a basic cost-of-capital threshold while maintaining financial stability. The Operating Margin of 8.50% shows the business is profitable but still has room for operating leverage expansion, particularly if revenue scales faster than fixed infrastructure costs. With a Price/Book of 3 and Price/Sales of 6.7, the valuation is not distressed but reflects a platform asset with scalable economics rather than a balance-sheet-heavy lender. The Piotroski F-Score of 4 is neutral, not signaling deep fundamental strength, but when combined with a manageable 20.30% Debt/Equity ratio and 2.3 Current Ratio, the company appears financially sound enough to weather volatility while preserving upside optionality.

The Bear Case

The red flags are hard to ignore: a trailing P/E of 37.7 against EPS Next Year (Est.) of $4.85 creates tension with the current EPS of 22.4, implying earnings volatility or normalization risk. Sales Growth Next Year is listed as $5.31, which lacks clarity as a growth rate and makes forward valuation harder to underwrite with conviction. The absence of a PEG Forward ratio (“-”) removes a key growth-adjusted valuation anchor, and the Piotroski F-Score of 4 signals only middling fundamental momentum. Add in the modest 8.50% Operating Margin and ROIC of 7.10%, and this starts to look like a business priced for growth but delivering only moderate capital efficiency.

Market Sentiment & Smart Money

Short Interest %

11.50%

Analyst Consensus

2.15

Average Analyst Price Target

$242.76

Institutional Ownership %

69.10%

1-Year Beta

2.87

Insider Buying % (6 Mo)

1.30%%

Distance to 52-Week High

37.80%%

Distance to 52-Week Low

120.40%%