COIN Coinbase
$176.10
▼ 4.2%Updated Oct 16, 2:25 PM ET
Report Card
COIN at a glance — five pillars scored 0–100 from real filed financials.
How the 0–100 rating is calculatedOverall: Weak · 24/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
Price — Past Year
▼ Down 44.7% in the year to Jul 6, 2026
Key Metrics
Market Cap
$43.60B
P/E
58.07x
Forward P/E (est.)
82.96x
ROE
5.7%
Revenue Growth
-5.8%
EPS Growth
-50.6%
Profit Margin
12.2%
FCF Yield
-1.5%
Debt / Equity
0.52x
ROIC
6.0%
Interest Coverage
17.34x
Current Ratio
2.42x
Dividend Yield
—
Implied Growth (rev. DCF)
—
Rating Score
24/100
Business Overview
Coinbase (COIN) is a large-cap company in the Financial Exchanges & Data industry, part of the Financials sector of the S&P 500, with a market value around $43.60B.
In its latest reported year it generated about $7.18B in revenue and $1.26B in net profit.
Our model rates COIN Weak (24/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Economic Moat
Evidence of durable competitive advantage in the filed financials (7 years of history).
Profit margins and economic moats, explainedThe numbers don't show a durable competitive advantage — margins, growth, or returns on capital have been unstable or thin. Great returns are still possible; they just aren't protected.
16.6% average over the last 3 years
±40.3 pts around 4.0% across 7 years
grew in 4 of the last 6 year-over-year periods
positive in 5 of 7 years
6.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical Analysis (Educational)
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what COIN's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. COIN trades near $176.10, below its 50-day average ($178.84) and 200-day average ($230.97). Price below both averages is a downtrend — momentum is against buyers for now.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 53 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently positive — short-term momentum is improving.
Volatility — ATR. Average True Range is the typical daily move. COIN's is $10.90 (~6.2% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. In the month to Jul 6, 2026, COIN found buyers near $139.18 (support) and sellers near $176.48 (resistance); its 52-week range then was $139.18–$444.65. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.1× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. The indicators were last computed on Jul 6, 2026; the price is current.
Revenue Growth
4Y CAGR
-2.2%
Revenue moved from $533.74M in 2019 to $7.18B in 2025, a 54.2% compound annual growth rate. The most recent year declined 5.8% year over year. Shrinking revenue is worth a closer look — is it cyclical or structural?
Profitability
Gross Margin
86.1%
Operating Margin
20.0%
Net Margin
17.6%
ROE
5.7%
Coinbase keeps about 12.2% of each sales dollar as net profit, with a 86.1% gross margin and 20.0% operating margin. Return on equity is 5.7% and return on invested capital about 6.0%. Margins are moderate — typical of a competitive but profitable business.
Debt Analysis
Total Debt
$5.90B
Net Debt
-$2.71B
Net cash position
Net Debt / EBITDA
-1.89x
Debt / Equity
0.52x
Leverage: debt-to-equity is 0.5x, and operating profit covers interest about 17.3x, with a current ratio of 2.4x. That is a moderate, manageable debt load for most businesses. It carries roughly $5.90B of total debt against $8.61B of cash.
Cash Flow Analysis
Operating CF
$2.43B
Free Cash Flow
$2.43B
FCF Margin
33.8%
In the latest year Coinbase produced about $2.43B of operating cash flow and $2.43B of free cash flow after capital spending. That is a free-cash-flow yield of about -1.5% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
Valuation Analysis
P/E
58.07x
P/S
6.22x
P/B
4.29x
EV / EBITDA
—
COIN trades at 58.1x trailing earnings (about 83.0x on estimated forward earnings), 6.2x sales, and 4.3x book value. That is a rich multiple that prices in a lot of future growth.
Metrics vs. Sector Range
Where COIN sits versus the Financials companies we cover.
Bands show the middle half (25th–75th percentile) of the 141 Financials companies in our coverage that have fundamentals data — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
Sector Peer Comparison
How COIN stacks up against its Financials peers — valuation, profitability, and growth versus the sector median.
Among the 141 rated Financials companies we cover, COIN ranks #138 by our overall rating. It trades at a premium versus the sector on earnings (58.1x P/E vs. 14.9x median) with a lower return on equity (5.7% vs. 13.6%) and slower revenue growth (-5.8% vs. 15.9%).
P/E vs sector
58.1x
median 14.9x
ROE vs sector
5.7%
median 13.6%
Growth vs sector
-5.8%
median 15.9%
Sector rank
#138
of 141 rated
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Financials companies by sub-industry and size, preferring ones with full data. Sector medians and rank use the 141 rated companies among the 289 Financials stocks we cover. Educational, not a recommendation.
5-Year Projection Model
Project revenue → earnings → price. Edit the assumptions to build your own case.
What drives this projection, and its limits2030 scenario price range (Base Case)
$211.85 – $351.07
vs. $176.10 today · implied CAGR 4% – 15%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $7.40B | $7.62B | $7.85B | $8.08B | $8.33B |
| Net income | $1.33B | $1.37B | $1.41B | $1.45B | $1.50B |
| EPS | $5.38 | $5.54 | $5.71 | $5.88 | $6.05 |
| Share price (low) | $188.23 | $193.87 | $199.69 | $205.68 | $211.85 |
| Share price (high) | $311.92 | $321.28 | $330.91 | $340.84 | $351.07 |
| CAGR (low–high) | 7% / 77% | 5% / 35% | 4% / 23% | 4% / 18% | 4% / 15% |
Educational scenario model, not a forecast or investment advice. It starts from the latest annual revenue in SEC filings. By default, growth is trailing revenue growth (held between 3% and 45% a year), the net margin is the latest one (held between 3% and 50%, so a loss-making company is modeled with a small profit), and the Base case P/E runs from 60% to 100% of today's. Carrying recent growth forward five years can miss badly in either direction. Outputs are only as good as the assumptions.
Bull Case
The case for COIN:
- As an established S&P 500 member in Financials, it brings scale and a long operating history.
Bear Case
The case against COIN:
- Revenue growth is slow/negative (-5.8%), limiting the upside engine.
- A rich 58.1x earnings multiple prices in a lot of growth.
- Limited free cash flow at today's price.
- Our model's overall read is Weak (24/100).
Key Risks
Valuation risk — at 58.1x earnings, disappointing results could compress the multiple.
Growth risk — sluggish revenue (-5.8%) leaves little margin for execution missteps.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
Investment Thesis
On balance, the fundamentals screen weakly: Coinbase is a large-cap financials business with shrinking revenue, with solid profitability, and a sound balance sheet. It trades at 58.1x earnings, which our model scores Weak (24/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Latest SEC Filings
COIN's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen. How to read a 10-K
COIN — frequently asked questions
Is COIN a good stock to buy?
We don't give buy or sell advice. Our model rates Coinbase Weak (24/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is COIN's rating on The Stocks School?
Coinbase currently scores 24/100 (Weak) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does COIN's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Coinbase's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for COIN calculated?
It's a scenario model. It starts from the latest annual revenue and net margin in SEC filings, grows revenue at an assumed rate (trailing revenue growth by default), and applies a P/E range built around today's multiple to show the resulting share-price range. When a stock has no growth or P/E data, the starting values are placeholders. It's a tool for thinking, not a prediction.
Is this COIN analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell COIN. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.