Coinbase Global, Inc.(COIN) - Stock detail

Coinbase Global, Inc.

US
COIN
Coinbase Global, Inc.(Listing date: 04/14/2021)

Coinbase Global, Inc. was founded in Delaware in May 2012 by Brian Armstrong and Fred Ehrsam, with its headquarters located in San Francisco, California, USA. It has 1,249 full-time employees and operates as a digital currency exchange. They facilitate the trading of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many other cryptocurrencies. It enables trading and storage using fiat currencies in approximately 32 countries and Bitcoin in 190 countries worldwide. By trading volume, Coinbase is currently the largest cryptocurrency exchange in the United States. Nearly all of Coinbase's revenue comes from the trading of BTC and ETH.

AI Value AnalystHold
Overall Rating3.7/10
Generated at:2026-06-03 17:40:28
Analysis based on 5 financial reports: 2026-03-31, 2025-12-31, 2025-09-30, 2025-06-30, 2025-03-31. Stock price data as of 2026-06-03 close. TTM metrics calculated based on trailing twelve months data. 60-day trading range analysis provided. Data completeness: Full financial statements for 5 quarters analyzed.

Coinbase Global, Inc. (COIN) is a leading financial technology company in the cryptocurrency industry. Its financial performance is highly volatile and intrinsically linked to crypto market conditions. The company shows mixed financial health with sufficient liquidity but moderate leverage, and recent quarterly performance has deteriorated significantly with a substantial net loss.

Valuation
3/10
Profitability
3/10
Financial health
5/10
  • Hold the stock and await clearer signs of a fundamental turnaround.
  • The current price of $163.22 is near the lower end of the recent trading range ($159.83-$222.35).
  • A reasonable 12-month target price is $175, contingent on recovery in crypto trading volumes and return to profitability.
  • Consider buying only after seeing sustained revenue growth and quarterly profitability.

Valuation

P/E TTM
41.32
P/E LYR
20.84
P/B MRQ
3.52
P/S TTM
--
AI Analysis
  • Valuation metrics suggest the stock is richly valued relative to current fundamentals. The P/E(TTM) of 41.32 is very high, especially given recent losses, though forward P/E of 20.84 suggests expected earnings improvement. Current price is near the lower end of recent trading range, with fair value estimated at $150-$180.
  • Current price is $163.22 as of 2026-06-03 close
  • P/E (TTM) is 41.32, a very high multiple reflecting market expectations for future recovery rather than current earnings
  • Forward P/E (Dynamic) is 20.84, suggesting analysts expect significant earnings improvement in next twelve months
  • Price-to-Book (P/B) is 3.52, indicating market values company at substantial premium to book value
  • Price-to-Sales (P/S) is 6.56, an elevated sales multiple indicating high price for each dollar of declining revenue
  • Recent 60-day trading range: low of $159.83 (2026-03-27) to high of $222.35 (2026-05-14)
  • Stock appears overvalued on trailing basis given high P/E(TTM) and recent profitability downturn
  • Reasonable fair value range is $150-$180 based on forward P/E of 20.84 and high uncertainty
  • 12-month target price of $175 is reasonable contingent on recovery in crypto trading volumes and return to profitability
Valuation trend

Profitability

ROE TTM
6.63%
Net margin
-27.89%
Gross margin
100.00%
Total revenue
1.41B
AI Analysis
  • Profitability is highly inconsistent and volatile, reflecting the cyclical nature of the cryptocurrency industry. TTM metrics show mediocre returns, while quarterly performance shows wild swings from peak profitability to substantial losses in the most recent quarter.
  • TTM Return on Equity (ROE) is 6.63% and Return on Assets (ROA) is 3.18%, indicating mediocre figures and inefficient use of capital
  • Last five quarters show wild swings in profitability
  • Profitability peaked in Q3 2025 with net margin of 35.69% and ROE of 14.65%
  • Most recent quarter (Q1 2026) shows steep loss with net margin of -27.89% and ROE of -2.79%
  • Reported 100% gross margin across all periods is atypical and stems from revenue recognition model (transaction-based revenue reported net of costs)
  • Key metric is net margin, which has proven extremely volatile
  • Revenue declined -30.54% year-over-year in Q1 2026 to $1.41B
  • Company reported substantial net loss of -$394.12M in Q1 2026 compared to small profit in Q1 2025
Profitability
2025Q12025Q22025Q32025Q42026Q1
ROE TTM--13.36%14.65%10.05%6.63%
Earnings
2025Q12025Q22025Q32025Q42026Q1
Total revenue2.03B3.53B5.40B7.18B1.41B

Financial health

Debt/Asset
53.27%
Current ratio
2.14
Quick ratio
--
Cash ratio
2.14
AI Analysis
  • Financial health shows mixed signals with sufficient short-term liquidity but moderate leverage. Recent quarterly performance has deteriorated significantly, highlighting extreme sensitivity to crypto market downturns.
  • Current ratio of 2.14 indicates sufficient short-term liquidity to cover obligations
  • Debt-to-asset ratio of 53.27% shows moderate level of leverage, not excessive but requires monitoring
  • Leverage is concerning given company's cyclical revenue streams
  • Most recent quarter (Q1 2026) shows significant deterioration
  • Revenue declined -30.54% year-over-year to $1.41B in Q1 2026
  • Company reported substantial net loss of -$394.12M in Q1 2026 compared to small profit in Q1 2025
  • Highlights extreme sensitivity of Coinbase's business to crypto market downturns
Leverage
2025Q12025Q22025Q32025Q42026Q1
Debt/Asset51.83%48.48%48.89%50.14%53.27%
Liquidity
2025Q12025Q22025Q32025Q42026Q1
Current ratio2.522.132.402.342.14