Coincheck Group (CNCK) AI Stock Analysis

• Market Cap: $575.58M
• Dividend Yield: N/A
• Average Volume (3M): 30.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.74
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 185
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management - Cryptocurrency
• EPS (TTM): N/A
• Shares Outstanding: 130,814,530
• 10 Day Avg. Volume: 42,309
• 30 Day Avg. Volume: 30,690
• PEG Ratio: 0.04
• Price to Book (P/B): 9.17
• Price to Sales (P/S): 0.26
• P/FCF Ratio: -37.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $6.00
• Price Target Upside: 39.53% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 46 Neutral
• Price Target: $4.50 ▲(4.65% Upside)

The overall stock score of 46 reflects significant financial challenges and poor valuation metrics. The company's high leverage and negative profitability are major concerns, while technical indicators suggest a lack of strong momentum. The absence of a dividend yield and negative P/E ratio further weigh down the stock's attractiveness.

Positive Factors

Strategic Partnership

The partnership with Mercoin allows Coincheck to leverage Mercari's user base, enhancing market presence and access to digital assets in Japan, which is a durable competitive advantage.

Revenue Growth

The consistent revenue growth indicates a strong market position and effective business strategies, supporting long-term financial health and expansion capabilities.

User Base Expansion

A growing user base enhances Coincheck's platform value and revenue potential, strengthening its competitive position in the cryptocurrency market.

Negative Factors

High Leverage

High leverage can strain financial flexibility and increase risk, potentially impacting long-term stability and ability to invest in growth opportunities.

Negative Profitability

Persistent negative profitability suggests operational inefficiencies and challenges in cost management, which can hinder sustainable growth and investor confidence.

Cash Flow Challenges

Negative operating cash flow indicates potential liquidity issues and limits the company's ability to fund operations and growth initiatives without external financing.

Coincheck Group Business Overview & Revenue Model

Company Description

Coincheck Group N.V. operates as a holding company. The Company, through its subsidiaries, operates in the crypto asset and web3 domains, as well as offers cryptocurrency trading services.

How the Company Makes Money

Coincheck Group generates revenue through several key streams. Primarily, the company earns money from transaction fees charged on cryptocurrency trades carried out on its platform. These fees are often a percentage of the trade value or a fixed rate per transaction. Additionally, Coincheck provides services such as margin trading and lending, which also contribute to its revenue through interest fees and loan arrangements. The company may also generate income from partnerships with other financial institutions or blockchain technology firms, enhancing its service offerings and expanding its user base. Lastly, Coincheck's revenue can be influenced by market trends and the overall trading volume on its platform, which can fluctuate based on cryptocurrency market conditions.

Coincheck Group Financial Statement Overview

Summary

Coincheck Group faces significant financial challenges, with negative profitability and cash flow metrics. The high leverage and negative return on equity highlight potential financial instability. While there is some revenue growth, the overall financial health of the company is weak, requiring strategic improvements to enhance profitability and reduce financial risk.

Income Statement

Coincheck Group has experienced fluctuating revenue growth, with a recent positive trend of 3.56% in the latest year. However, profitability metrics such as net profit margin and EBIT margin are negative, indicating challenges in maintaining operational efficiency. The gross profit margin is relatively low, suggesting limited pricing power or high cost of goods sold.

Balance Sheet

The company's balance sheet shows a high debt-to-equity ratio of 4.13, indicating significant leverage and potential financial risk. Return on equity is negative, reflecting recent net losses. The equity ratio is low, suggesting limited financial stability and reliance on debt financing.

Cash Flow

Coincheck Group's cash flow situation is concerning, with negative operating and free cash flows. The free cash flow growth rate is significantly negative, and the operating cash flow to net income ratio is also negative, indicating cash flow challenges and potential liquidity issues.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	392.02B	383.33B	224.05B	176.92B	690.97B	524.42B
Gross Profit	10.38B	13.48B	6.98B	5.30B	28.48B	18.99B
EBITDA	-14.28B	4.35B	3.52B	-360.00M	14.37B	14.09B
Net Income	-16.16B	-14.35B	1.97B	-559.00M	9.79B	10.24B
Balance Sheet
Total Assets	121.22B	112.27B	119.19B	71.98B	540.13B	486.13B
Cash, Cash Equivalents and Short-Term Investments	10.74B	8.65B	10.84B	8.37B	73.19B	66.66B
Total Debt	53.31B	2.03B	45.68B	19.11B	34.47B	28.56B
Total Liabilities	111.31B	101.50B	106.75B	61.50B	524.09B	473.15B
Stockholders Equity	9.90B	10.77B	12.44B	10.48B	16.04B	12.98B
Cash Flow
Free Cash Flow	-2.69B	-2.62B	3.59B	-4.19B	7.18B	838.00M
Operating Cash Flow	-1.94B	-1.92B	3.90B	-3.80B	7.40B	1.03B
Investing Cash Flow	-1.09B	-903.00M	-435.00M	-749.00M	-219.00M	-269.00M
Financing Cash Flow	2.16B	565.00M	-327.00M	-5.46B	-6.65B	-225.00M

Coincheck Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNCK, the sentiment is Negative. The current price of 4.3 is below the 20-day moving average (MA) of 4.68, below the 50-day MA of 4.76, and below the 200-day MA of 6.04, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 40.20 is Neutral, neither overbought nor oversold. The STOCH value of 8.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNCK.

Coincheck Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FUFU	68 Neutral	$601.86M	12.76	30.23%	―	39.84%	-10.81%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
HIFS	63 Neutral	$552.56M	12.34	10.23%	0.99%	8.26%	94.53%
FOA	53 Neutral	$525.34M	30.12	33.40%	―	276.86%	―
CNCK	46 Neutral	$575.58M	―	-1.11%	―	―	―

Coincheck Group Corporate Events

Coincheck Group Releases Preliminary Monthly Trading Data

Coincheck Group N.V. has released its preliminary monthly disclosure for Coincheck, Inc., detailing trading volumes, customer assets, and verified accounts over the past year. The report highlights fluctuations in exchange and marketplace trading volumes, with significant activity noted in November 2024 and January 2025. The number of verified accounts has steadily increased, reaching over 2.4 million by September 2025. This disclosure provides stakeholders with insights into Coincheck’s operational performance and market engagement, despite the preliminary nature of the data.

Coincheck Group Releases Monthly Disclosure for August 2025

Coincheck Group N.V. has released its preliminary monthly disclosure for Coincheck, Inc., detailing data from the past twelve months. The report highlights significant fluctuations in exchange and marketplace trading volumes, customer assets, and the number of verified accounts. These insights suggest a dynamic market environment, with implications for stakeholders regarding the company’s operational performance and market positioning. The data, which is subject to updates, shows a notable increase in customer assets and verified accounts over the period, indicating growth in user engagement and asset management.

Coincheck Group Unveils Strategic Vision and FY 2026 Q1 Performance

On August 29, 2025, Coincheck Group N.V. released a presentation detailing its strategic vision and growth strategy, emphasizing the development of new crypto and Web3 services. The company aims to enhance its crypto asset ecosystem through mergers and acquisitions, expand its financial services, and grow its NFT platforms in Japan. Coincheck Group’s performance update for FY 2026 Q1 showed a 12% revenue increase year-over-year, despite a drop in adjusted EBITDA, highlighting the company’s efforts to maintain its market position amidst evolving global crypto market conditions.

Coincheck Group Releases Interim Financial Statements for June 2025

On August 28, 2025, Coincheck Group N.V. released its unaudited condensed consolidated interim financial statements for the periods ending June 30, 2025, and March 31, 2025. The release includes a management discussion and analysis of the company’s financial condition and results of operations, providing stakeholders with insights into its financial performance. The report is part of Coincheck’s ongoing efforts to maintain transparency with investors by making such information readily available on its website and through SEC filings.

Coincheck Group Announces Annual Shareholders Meeting for September 2025

On August 21, 2025, Coincheck Group N.V. announced the convocation of its annual general meeting of shareholders, scheduled for September 23, 2025. The meeting will address several key agenda items, including the adoption of financial statements, board reappointments, and amendments to the remuneration policy. The announcement highlights the company’s commitment to transparency and governance, emphasizing the importance of shareholder engagement in its strategic decisions.

Coincheck Group Reports Q1 2026 Financial Results Amid Strategic Expansions

On August 7, 2025, Coincheck Group N.V. announced its financial results for the first quarter of the fiscal year ending March 31, 2026. The company reported a 12% year-over-year increase in total revenue to ¥84.0 billion but a 27% decrease quarter-over-quarter. Despite an increase in verified accounts and customer assets, Coincheck experienced a net loss of ¥1,377 million, attributed to various expenses including share-based compensation and transaction expenses. The company launched ‘Coincheck Staking’ and formed a strategic relationship with Mercoin to expand its customer base, highlighting its efforts to enhance its market position.

Coincheck Group Announces Strategic Partnership with Mercoin

On August 5, 2025, Coincheck Group N.V. announced a strategic partnership between its subsidiary, Coincheck, Inc., and Mercoin, a subsidiary of Mercari, Inc. This collaboration will allow users of Mercari, Japan’s largest community-powered marketplace app, to access Coincheck’s crypto asset trading services directly from the Mercari app. The partnership aims to expand access to digital assets in Japan by leveraging Coincheck’s trading infrastructure and Mercari’s extensive user base. This move is expected to significantly enhance Coincheck’s market presence and provide Mercari users with seamless access to a broader range of crypto assets.

Coincheck Group Reports July 2025 Trading and Asset Figures

Coincheck Group N.V. released its preliminary monthly disclosure for Coincheck, Inc. for the past twelve months as of July 2025. The report highlights fluctuations in exchange and marketplace trading volumes, customer assets, and the number of verified accounts. Notably, the exchange trading volume in July 2025 was 387,980 million yen, and customer assets reached 1,239,869 million yen. These figures indicate a dynamic trading environment and growing customer engagement, reflecting Coincheck’s significant role in the Japanese cryptocurrency market.