CoinShares PLC Ordinary Shares (CSHR) Fundamental Analysis: Bull vs. Bear Case

CSHR

CoinShares PLC Ordinary Shares

Fundamental data last updated:August 13, 2026

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company profile

SECTOR

Financial Services

industry

Financial - Capital Markets

Exchange

NASDAQ

County of HQ

JE

Next Earnings Date

Pending Announcement

Business Summary

CoinShares PLC engages in the creating financial products with digital assets and blockchain technology business in Jersey. It operates through three segments: Asset Management, Capital Markets, and Principal Investments. The company offers CoinShares Physical, CoinShares Valkyrie, CoinShares XBT, and The Blockchain Global Equity Index products. It also provides hedge fund solutions, indices, venture services, and capital markets services. CoinShares PLC was founded in 2013 and is headquartered in Saint Helier, Jersey.

VALUATION

P/E

2.43 Market Cap ($M USD)

$315.29M

Forward P/E

6.84 PEG

-0.11

PRICE TO SALES

5.29 PRICE TO BOOK

0.61 EV / EBITDA

4.96 5-Year Average P/E

Free Cash Flow Yield

19.49%

DCF Value

$-0.01

Graham Number

$18.64

Price to FCF

5.13 EV to FCF

5.13 Earnings Yield

41.07%

FCF Yield

19.49%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.62%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$1.97

Next Year EPS Growth Estimate

$0.70

Next Year Revenue Growth Estimate

$128.69M

Return on Equity (ROE)

21.70%

FREE CASH FLOW

Operating Margin

94.33%

Debt-to-Equity

0.00 Piotroski F-Score

N/A

Altman Z-Score

N/A

Return on Invested Capital (ROIC)

24.06%

Current Ratio

0.37 Quick Ratio

0.37 Net Debt to EBITDA

0.00 Interest Coverage

18.41 Gross Profit margin

85.71%

FCF PER SHARE

$2.10

REVENUE PER SHARE

$2.03

Gainseekers Quantitative Analysis

Summary

The market seems to be undervaluing CoinShares PLC, with its stock trading significantly below its Graham Number, suggesting a potential mispricing. The Price/Book ratio of 0.76 indicates that the stock is trading below its book value, a classic sign of a value opportunity. Despite a robust Earnings Yield of 33.12%, the lack of a Forward P/E and Altman Z-score leaves some uncertainty about future growth and safety. However, the impressive ROIC of 24.06% highlights strong capital efficiency, suggesting management is effectively deploying resources.

AI Exposure / Tech Reliance

Operating in the Financial - Capital Markets industry, CoinShares PLC is well-positioned to leverage AI and modern technology. The sector's inherent need for data analytics and algorithmic trading aligns with AI advancements, potentially enhancing operational efficiency. This adaptability could provide a competitive edge in a rapidly evolving tech landscape.

The Bull Case

For the value-driven investor, CoinShares PLC presents a compelling case. The ROIC of 24.06% underscores exceptional capital efficiency, while the Operating Margin of 94.33% reflects strong pricing power and operational prowess. Despite a negative FCF Yield, the company's low Debt/Equity ratio of 0.0011 suggests financial stability. These metrics collectively paint a picture of a company with the potential for sustainable growth and profitability.

The Bear Case

Despite its strengths, CoinShares PLC faces significant structural risks. The negative Free Cash Flow Yield and Price to FCF ratio of -87.68 highlight severe cash flow issues, raising concerns about liquidity and operational sustainability. Trading at a Price/Sales ratio of 6.56, the stock appears overvalued relative to its revenue generation. Additionally, the stock's proximity to its 52-week high suggests it may be technically overextended, posing a risk of correction.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

N/A

Average Analyst Price Target

N/A

Institutional Ownership %

1-Year Beta

-1.61

Insider Buying % (6 Mo)

Distance to 52-Week High

117.75%

Distance to 52-Week Low

1.46%

EARNINGS SURPRISE %

-66.67%

50-DAY SMA

$5.88

200-DAY SMA

$5.88

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.