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Coinbase Global, Inc. COIN

Nasdaq · stock · Finance Services · website · IPO 2021-04-15 · LEI

Coinbase Global, Inc. statistics & valuation

Market cap$39.3B
P / E31.2×
P / S5.5×
P / B2.7×
Net margin17.6%
Return on equity8.5%
Net cash$4.1B
Net debt / EBITDA-2.5×
Enterprise value USD$35.2B
EV / EBITDA21.7×
Earnings yield EBIT/EV4.1%
Return on capital6.8%
Graham number -51.8%$71.81

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($71.81); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
25.20% 46.20% -82.20% 3.10% 39.30% 17.60% 202020212022202320242025
Gross margin (%)
202020212022202320242025
Operating margin (%)
32.00% 39.20% -84.80% -5.20% 35.10% 20.00% 202020212022202320242025
Return on equity (%)
33.40% 56.80% -48.10% 1.50% 25.10% 8.50% 202020212022202320242025
Shares outstanding
91.2M 220.0M 222.3M 254.4M 273.4M 287.2M 202020212022202320242025
Net debt ($)
-$1.06B -$3.74B -$1.03B -$2.51B -$5.07B -$4.09B 202020212022202320242025
Share buybacks ($)
202020212022202320242025
Return on assets (%)
5.50% 17.00% -2.90% 0.60% 11.40% 4.20% 202020212022202320242025
Free cash flow margin (%)
22.20% 51.50% -49.70% 202020212022202320242025
Debt / equity (×)
0.00× 0.53× 0.62× 0.47× 0.41× 0.49× 202020212022202320242025
EPS ($)
$1.40 $14.50 -$11.83 $0.37 $9.48 $4.45 202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Coinbase Global, Inc. trades at about 33.5× earnings — below its 10-year norm (10-year range 13.1×–346.5×, median 43.8×).

13.1× 346.5×

Shaded band = 10-year range (13.1×–346.5×); dot = today's 33.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020
Operating margin20.0%35.1%-5.2%-84.8%39.2%32.0%
Net margin17.6%39.3%3.1%-82.2%46.2%25.2%
FCF margin———-49.7%51.5%22.2%
Return on assets4.2%11.4%0.6%-2.9%17.0%5.5%
Return on equity8.5%25.1%1.5%-48.1%56.8%33.4%
Debt / equity0.49×0.41×0.47×0.62×0.53×0.00×
Current ratio2.342.282.071.071.611.21

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.