रैंकिंग पर वापस जाएं

Coinbase Global, Inc. (COIN)

Fair Value
Financial ServicesFinancial Data & Stock ExchangesUnited States

Fundamental

44

मूल्य

$186.41

मार्केट कैप

$52.56B

भाग 1 · कंपनी का मूल्य कितना है

अवलोकन

Coinbase runs an online exchange where people and institutions buy, sell and store cryptocurrencies such as Bitcoin and Ethereum. Around that core marketplace it has built a set of subscription and service products — custody for institutions, a Visa debit card, staking, and its own blockchain infrastructure — designed to earn steadier fees regardless of whether crypto prices are rising or falling that day.

यह पैसा कैसे कमाती है

Transaction revenue is a fee charged as a percentage of each trade, so it rises and falls sharply with how much people are trading — which itself tracks crypto prices and volatility far more than any steady economic trend. Subscription and services revenue, from custody fees, staking commissions and stablecoin interest, is far steadier because it does not depend on daily trading activity, and Coinbase has been shifting its business mix toward it.

सेगमेंट के अनुसार राजस्व

Transaction Revenue56.5%

Fees earned on trades placed by retail users and institutions. Moves up and down with crypto trading volume.

Subscription and Services39.4%

Custody fees, staking rewards, stablecoin interest and the Coinbase One subscription — revenue that does not depend on daily trading activity.

प्रतिस्पर्धी बढ़त (Moat)

स्विचिंग कॉस्ट · संकीर्ण

Once a customer's crypto holdings, tax records and linked bank accounts sit on Coinbase, moving them to another exchange is enough friction that many do not bother, particularly institutional clients using its custody service. That said, the core trading product is fairly easy to compare on price, and sophisticated traders do split activity across several exchanges.

मांग को क्या चलाता है

चक्रीय

Trading volume, and with it transaction revenue, rises sharply when crypto prices are rising and enthusiasm is high, and collapses in bear markets when prices fall and interest fades. This is a much steeper cycle than a typical business cycle, driven by sentiment toward a single asset class rather than the broader economy.

प्रमुख जोखिम

  • Dependence on crypto trading volume — Transaction revenue still makes up more than half of Coinbase's revenue and falls quickly when crypto prices decline and trading activity dries up, as has happened repeatedly in past cycles.
  • Regulatory uncertainty — The rules governing what counts as a security, how exchanges must be licensed, and what services Coinbase can offer are still being litigated and rewritten across jurisdictions, and an adverse ruling could force product or business changes.
  • Security and custody risk — Coinbase holds customer crypto assets directly, making it a target for hacking and theft; a successful attack on its custody systems would be both a direct financial loss and a blow to customer trust.
  • Competition from other exchanges and platforms — Other crypto exchanges, traditional brokers adding crypto trading, and decentralised platforms all compete for the same trading fees, putting pressure on the prices Coinbase can charge.

खरीदने के पक्ष में तर्क

Buyers argue that Coinbase is becoming the regulated, trusted on-ramp of choice as crypto moves further into the mainstream, that subscription and services revenue is steadily reducing dependence on trading volume, and that regulatory clarity, once it arrives, favours an established compliant player over less regulated competitors.

बेचने के पक्ष में तर्क

Sellers fear that revenue still swings with crypto sentiment more than with any durable growth trend, that regulatory outcomes remain genuinely unpredictable, and that cheaper exchanges and brokers erode the fees Coinbase can charge on its core trading business over time.

वित्त वर्ष 2025 के सेगमेंट आंकड़ेस्रोत: Coinbase Global, Inc. — Form 10-K, fiscal year 2025Coinbase Investor Relations

Written by the editors, published on 18 अगस्त 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 सितंबर 2026 with claude-haiku-4-5 — shared with all users

P/E: 49.8Score: 71Market cap: $0

Robinhood sells crypto trading to the same US retail investor Coinbase targets, inside an app that also offers stocks and options, so the two fight for the beginner's first account.

Binance Holdings Ltd.Not tracked

Binance is the largest crypto exchange by trading volume worldwide and takes the same retail and institutional trading fees Coinbase lives on, across nearly every market outside the United States.

Payward, Inc. (Kraken)Not tracked

Kraken is the other large US-regulated spot exchange, competing for the same American and European customers with a comparable custody, staking and trading offer at lower fees.

Gemini Space Station, Inc.GEMI

Gemini is a US-licensed exchange and qualified custodian that courts the same compliance-minded retail and institutional clients as Coinbase, with a similar card, staking and custody line-up.

BullishBLSH

Bullish runs a regulated institutional spot and derivatives venue, competing directly with Coinbase Prime and Coinbase Institutional for the trading flow of funds and market makers.

Foris DAX Asia (Crypto.com)Not tracked

Crypto.com serves the same mass-market retail user with a mobile app, a debit card and staking products, and competes head-on with Coinbase in the US, Europe and Asia.

बैलेंस शीट और तरलता

राजस्व

$6.28B

पिछले 12 महीने (30/6/2026 तक)

शुद्ध आय

$-988M

पिछले 12 महीने (30/6/2026 तक)

Free Cash Flow

-

कुल इक्विटी

$14.79B

कुल देनदारियाँ

$14.88B

Current Ratio

2.42

Interest Coverage

6.92

Debt/EBITDA

4.11

Earnings Per Share

राजस्व और शुद्ध आय

Free Cash Flow

आय विवरण

ऐतिहासिक विवरण

समय के साथ मार्जिन

समय के साथ ऋण

ऋण कितना भारी है

वृद्धि तालिका

वृद्धि — राजस्व

Fair Value अनुमान

सामान्य मामलाउचित मूल्यांकित

Fair Value

$224.15

वर्तमान मूल्य

$186.41

Margin of Safety

+16.8%

Fair Value सीमा

$201.18 - $247.11

इस्तेमाल किए गए valuation methods के बीच का फैलाव, कोई सांख्यिकीय रूप से calibrated confidence interval नहीं।

अनुमान विधियाँ

विश्लेषकों का लक्ष्य मूल्य:$203.60
डिस्काउंटेड कैश फ्लो (DCF):$249.82
आय गुणक (P/E):इसकी गणना के लिए पर्याप्त डेटा नहीं
Graham वृद्धि फॉर्मूला:इसकी गणना के लिए पर्याप्त डेटा नहीं
अर्निंग पावर वैल्यू (EPV):$10.32
उचित P/B:इसकी गणना के लिए पर्याप्त डेटा नहीं
लाभांश डिस्काउंट (Gordon):इसकी गणना के लिए पर्याप्त डेटा नहीं
P/FFO, परिचालन से प्राप्त निधि:$87.88
मध्य-चक्र आय:$50.92
राजस्व गुणक:$62.41
विश्लेषक सहमति:खरीदें (32B / 10H / 3S)
अंतिम Earnings सरप्राइज़:-574.35%

मूल्यांकन मेट्रिक्स

P/E Ratio

44.77

ROE

8.5%

P/B Ratio

3.76

P/FCF

-

Gross Margin

-

ROIC

2.5%

लाभप्रदता Radar

मूल्य सृजन (प्रतिस्पर्धी बढ़त)

ROIC

2.5%

WACC

16.1%

ROIC − WACC

-13.5 pp

ROIC पूंजी की लागत से कम है — कंपनी निवेशित हर डॉलर पर मूल्य नष्ट कर रही है।

Fundamental विश्लेषण मानदंड

पास (9)

  • EPS shows upward trend
  • Debt/Equity ratio
  • Operating Margin 9.9%
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Revenue Growth 5Y 41.2%
  • Analyst Consensus 71% Buy
  • Piotroski F-Score 5/9

फेल (11)

  • Price CAGR -4.72%
  • ROIC 2.5%
  • P/B Ratio 3.76
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • ROE -6.9%
  • Earnings Surprise avg -403.7%
  • Share Dilution 4.1%
  • Net Margin Trend -15.7% vs 40.8%

अनुपलब्ध (7)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)

Piotroski F-Score

5/9

मिश्रित संकेत: कुछ क्षेत्रों पर ध्यान देना आवश्यक

score
criteria

Earnings गुणवत्ता

-

निम्न गुणवत्ता: accounting की जांच करें

शेयर Dilution

4.1%

नए शेयर जारी कर रही है, स्वामित्व को कम कर रही है

संस्थागत होल्डिंग

इस कंपनी के लिए कोई संस्थागत घोषणा उपलब्ध नहीं है।

प्रशासन

कार्यकारी टीम

नामपदआयु
Mr. Brian ArmstrongCo-Founder, Chairman & CEO42
Ms. Emilie M. ChoiPresident & COO46
Mr. Frederick Ernest Ehrsam IIICo-Founder & Independent Director36
Ms. Alesia Jeanne HaasChief Financial Officer48
Mr. Paul Grewal J.D.Advisor53
Mr. Lawrence J. BrockAdvisor53
Ms. Jennifer N. JonesChief Accounting Officer-
Mr. Rob WitoffChief Technology Officer-
Mr. Anil K. GuptaVice President of Investor Relations-
Molly AbrahamGeneral Counsel & Secretary-

Audit जोखिम

10

बोर्ड जोखिम

10

मुआवजा जोखिम

10

शेयरधारक अधिकार जोखिम

10

भाग 2 · कीमत और खरीदने का समय

यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।

दस्तावेज़

  • वार्षिक रिपोर्ट (10-K)

    कंपनी के कारोबार, वित्तीय नतीजों और जोखिमों का वार्षिक सिंहावलोकन।

    दाखिल तिथि: 2026-02-12

    दस्तावेज़ देखें
  • तिमाही रिपोर्ट (10-Q)

    पिछले तीन महीनों के वित्तीय प्रदर्शन का अपडेट।

    दाखिल तिथि: 2026-07-30

    दस्तावेज़ देखें
  • विशेष रिपोर्ट (8-K)

    किसी बड़ी घटना, जैसे नेतृत्व में बदलाव या बड़ी घोषणा, की सूचना।

    दाखिल तिथि: 2026-09-02

    दस्तावेज़ देखें

via SEC EDGAR

आय का इतिहास

via SEC EDGAR

Latest News

Recent headlines for COIN, sourced from Markets Gazette.

  • 2d agoPOSITIVE
    Citi And Coinbase Bring Stablecoin Payments Into Corporate Banking

    Coinbase and Citi have deepened their collaboration, integrating stablecoin payments into corporate banking services. This new infrastructure allows Citi clients to receive payments in stablecoins, with Coinbase handling the blockchain transactions and conversion to fiat currency. Additionally, Coinbase's business clients gain access to Citi-powered virtual accounts that seamlessly manage conversions between fiat and stablecoins. This strategic move by Coinbase aims to enhance its institutional offerings and drive adoption of digital asset payments within the traditional finance sector, potentially boosting transaction volumes and revenue.

  • 3d agoPOSITIVE
    Crypto Market Update: Citi Partners with Coinbase on Stablecoins

    Citigroup is partnering with Coinbase Global to enable institutional clients to accept stablecoin payments from retail customers. Coinbase will provide the blockchain technology and convert stablecoins to fiat before Citigroup settles the transactions. This collaboration expands on a previous partnership that streamlined fiat pay-ins and pay-outs. Citigroup also expanded its token services network to Japan and the UAE. This news is positive for Coinbase as it integrates traditional finance with crypto, potentially increasing transaction volume and adoption of its services.

  • 7d agoPOSITIVE
    Coinbase Pushes Gold And Silver Trading Toward Always-On Markets

    Coinbase is expanding its derivatives offerings into precious metals, launching gold and silver perpetual futures for non-US traders and aiming for 24/7 availability of regulated US gold and silver futures through Coinbase Derivatives. This move aligns with Coinbase's 'everything exchange' strategy, leveraging crypto-style derivatives to provide exposure to gold and silver markets. The expansion into traditional assets via digital-native products could attract new user segments and increase trading volume, potentially boosting Coinbase's revenue streams and market position.

  • 8d agoNEGATIVE
    Crypto Firm Coinbase Dropped as Member of UK Finance Lobby Group

    Coinbase Global Inc. has been removed from UK Finance, a key British financial services lobby group, despite the growing importance of digital assets in policy discussions. This exclusion could signal a lack of full integration or support within traditional financial circles in the UK, potentially impacting Coinbase's ability to influence regulatory frameworks and market access. For investors, this development may raise concerns about the company's standing and advocacy power in a crucial market, potentially affecting its long-term growth prospects and regulatory navigation.

  • 9d agoPOSITIVE
    Coinbase Opens IPO Allocations To US Retail Traders Starting With Oura

    Coinbase is expanding its financial services beyond cryptocurrency by enabling eligible US retail customers to request allocations in Initial Public Offerings (IPOs) directly through its app. This new service, facilitated by Coinbase Capital Markets, allows users to submit Conditional Offers to Buy at the IPO price before public trading begins. The first IPO available is Oura. Coinbase's allocation process includes incentives for longer-term participation, such as a 30-day holding requirement to discourage immediate flipping, with penalties for early sales. This move positions Coinbase as a competitor to traditional retail brokerages, integrating IPO access into its existing digital asset platform and potentially driving user engagement and revenue diversification.

  • 10d agoPOSITIVE
    Coinbase: azioni in rialzo mentre l'exchange apre l'accesso alle IPO per i retail

    Coinbase shares surged over 4% as the cryptocurrency exchange announced it will offer eligible U.S. retail customers access to initial public offerings (IPOs) through its app. The new service, launching this week with Oura's smart ring IPO, allows qualified clients to subscribe to shares at the IPO price before public trading begins. This strategic move diversifies Coinbase's offerings beyond crypto into traditional financial markets, potentially attracting new user segments and increasing platform engagement. The expansion signals Coinbase's ambition to become a broader financial services provider, which could drive future revenue growth and enhance its market position.

  • 10d agoNEGATIVE
    Crypto Biz: CLARITY Act setback puts Coinbase in the spotlight

    Coinbase is facing increased scrutiny following the setback of the CLARITY Act, a legislative effort that could have provided regulatory clarity for the cryptocurrency industry. The stalling of this act, coupled with the SEC's continued pursuit of tokenized stocks and broader crypto firm expansion into payment services, creates an uncertain operating environment for digital asset exchanges. Investors may view this regulatory uncertainty as a negative catalyst, potentially impacting Coinbase's future growth prospects and profitability. The lack of clear legislative pathways could lead to increased compliance costs and operational challenges.

  • 11d agoPOSITIVE
    Coinbase Files To Bring Single-Stock Perpetual Futures To US Market

    Coinbase has filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer single-stock perpetual futures contracts to U.S. customers. This move, if approved, would allow U.S. traders to speculate on the price movements of individual stocks using leveraged derivatives directly on the Coinbase platform. This expansion into regulated futures markets could significantly boost Coinbase's derivatives trading volume and revenue streams, positioning it as a more comprehensive crypto exchange and potentially attracting institutional interest. Investors will be watching the CFTC's decision closely, as approval could mark a substantial growth catalyst for the company.

via Markets Gazette

Disclaimer

यह प्लेटफ़ॉर्म केवल शैक्षिक उद्देश्यों के लिए है। यह कोई वित्तीय, निवेश, या ट्रेडिंग सलाह नहीं देता। सभी स्कोर, मूल्यांकन, और संकेत सार्वजनिक रूप से उपलब्ध डेटा के स्वचालित विश्लेषण पर आधारित हैं जो अधूरे या गलत हो सकते हैं। निवेश निर्णय लेने से पहले हमेशा अपना शोध करें और एक योग्य वित्तीय सलाहकार से परामर्श लें।

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