Want to see CNCK full AI Analyst Report?
Top Page
Coincheck Group
(NASDAQ:CNCK)
Select Model
Select Model
Rating:40Underperform
Price Target:
$2.00
▼(-3.85% Downside)
Action:Downgraded
Date:08/10/26
The score is held down primarily by weak financial quality despite rapid revenue growth—thin margins, ongoing losses, negative operating/free cash flow, and higher leverage. Technical indicators also lean soft with negative MACD and price below key moving averages, while valuation is constrained by a negative P/E and no dividend yield support.
Positive Factors
Revenue Growth
Sustained multi‑year revenue expansion (TTM ~6.3x) signals strong market demand and platform traction in Japan’s crypto retail market. Durable top-line scale can support investment in product, compliance and institutional capabilities, underpinning longer-term diversification and unit economics improvements.
Negative Factors
Thin Margins & Losses
Extremely low gross margins and persistent net losses indicate limited pricing power and cost pressure in the core marketplace/brokerage model. Over the medium term, thin margins constrain reinvestment capacity and make the business highly sensitive to revenue swings and competitive fee pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained multi‑year revenue expansion (TTM ~6.3x) signals strong market demand and platform traction in Japan’s crypto retail market. Durable top-line scale can support investment in product, compliance and institutional capabilities, underpinning longer-term diversification and unit economics improvements.
Read all positive factors
Coincheck Group Key Performance Indicators (KPIs)
Any
Marketplace Trading Volume
Tracks the total value of trades executed on the platform over a period. Trading volume is the main driver of transaction fee revenue and indicates liquidity and user engagement, but it tends to follow crypto price swings and can be volatile — consistent, diversified volume growth points to stronger, more reliable monetization.
Tracks the total value of trades executed on the platform over a period. Trading volume is the main driver of transaction fee revenue and indicates liquidity and user engagement, but it tends to follow crypto price swings and can be volatile — consistent, diversified volume growth points to stronger, more reliable monetization.
Data provided by:
The Fly
The FlyCoincheck Group (CNCK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$282.73M
Dividend YieldN/A
Average Volume (3M)123.35K
Price to Earnings (P/E)―
Beta (1Y)1.33
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees303
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-9.39
Shares Outstanding135,927,120
10 Day Avg. Volume62,147
30 Day Avg. Volume123,347
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)1.46
Price to Sales (P/S)0.07
P/FCF Ratio-24.48
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-17.25
Revenue Forecast (FY)$457.38B
Coincheck Group Business Overview & Revenue Model
Company Description
Coincheck Group N.V. operates as a holding company. The organization, through its various subsidiary entities, is actively engaged in the crypto asset and Web3 sectors, while also providing digital currency trading solutions....
How the Company Makes Money
Coincheck Group primarily makes money by earning fees and spreads tied to customer crypto-asset transactions on the Coincheck platform. Key revenue streams generally include: (1) Trading-related income from customer activity, such as transaction f...
Coincheck Group Financial Statement Overview
Summary
Income Statement
37
Negative
Balance Sheet
41
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 510.59B | 480.24B | 383.33B | 224.05B | 176.92B | 690.97B |
| Gross Profit | 8.43B | 13.07B | 10.79B | 6.98B | 5.30B | 24.97B |
| EBITDA | 298.00M | 59.00M | -12.60B | 3.52B | -360.00M | 14.37B |
| Net Income | -1.63B | -1.83B | -14.35B | 1.97B | -559.00M | 9.79B |
Balance Sheet | ||||||
| Total Assets | 113.55B | 117.63B | 112.27B | 119.19B | 71.98B | 540.13B |
| Cash, Cash Equivalents and Short-Term Investments | 16.08B | 59.74B | 8.61B | 10.84B | 8.37B | 17.72B |
| Total Debt | 32.65B | 1.21B | 45.76B | 45.68B | 19.11B | 34.47B |
| Total Liabilities | 82.44B | 95.79B | 101.50B | 106.75B | 61.50B | 524.09B |
| Stockholders Equity | 31.11B | 21.84B | 10.77B | 12.44B | 10.48B | 16.04B |
Cash Flow | ||||||
| Free Cash Flow | -1.55B | -1.30B | -2.62B | 3.59B | -4.19B | 7.18B |
| Operating Cash Flow | -959.60M | -1.22B | -1.92B | 3.90B | -3.80B | 7.40B |
| Investing Cash Flow | 403.76M | 295.83M | -903.00M | -435.00M | -749.00M | -219.00M |
| Financing Cash Flow | 7.55B | 1.27B | 565.00M | -327.00M | -5.46B | -6.65B |
Coincheck Group Technical Analysis
Negative
2.08
Price Trends
2.30
Negative
2.09
Negative
2.42
Negative
Market Momentum
-0.04
Negative
46.43
Neutral
40.29
Neutral
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 2.08 is above the 20-day moving average (MA) of 2.06, below the 50-day MA of 2.30, and below the 200-day MA of 2.42, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 46.43 is Neutral, neither overbought nor oversold. The STOCH value of 40.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNCK.
Coincheck Group Risk Analysis
Coincheck Group disclosed 1 risk factors in its most recent earnings report. Coincheck Group reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coincheck Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $648.04M | 10.16 | 13.73% | 1.15% | 12.91% | 95.79% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
47 Neutral | $438.08M | -47.67 | -0.10% | ― | -2.88% | -104.13% | |
47 Neutral | $221.65M | -1.87 | -81.89% | ― | 4.33% | -343.00% | |
40 Underperform | $282.73M | -32.77 | -8.41% | ― | ― | ― |
* Financial Sector Average
CNCK
Coincheck Group
1.97
-2.91
-59.63%
HIFS
Hingham Institution For Savings
307.99
44.66
16.96%
FOA
Finance of America Companies
17.16
-10.64
-38.27%
FUFU
BitFuFu
1.33
-2.23
-62.64%
Coincheck Group Corporate Events
Coincheck Group Posts Strong Q1 Revenue Growth and Closes KDDI Strategic Investment as It Refocuses on Institutional Expansion
Aug 6, 2026
On August 6, 2026, Coincheck Group reported a 36% year-on-year rise in first-quarter revenue to ¥114.3 billion and a 19% increase in adjusted revenue to ¥2,920 million, driven mainly by higher institutional transaction revenue, staking i...
Coincheck Group Reports Year of Monthly Crypto Metrics as Verified Accounts Near 2.7 Million
Aug 4, 2026
Coincheck, Inc. has released preliminary monthly operating metrics for August 2025 through July 2026, detailing exchange and marketplace trading volumes, customer assets, and verified accounts as of each month-end. The disclosed figures, filed wit...
Coincheck Group Posts June 2026 Metrics and Highlights Crypto-as-a-Service Growth
Jul 2, 2026
On July 2, 2026, Coincheck Group N.V. reported preliminary monthly operating metrics for Coincheck, Inc. covering July 2025 through June 2026, detailing exchange and marketplace trading volumes, customer assets and verified account numbers. The di...
Coincheck Group Closes $65 Million Strategic Investment from KDDI
Jun 10, 2026
On June 9, 2026, Coincheck Group completed a previously agreed strategic investment from Japan’s KDDI Corporation, issuing 28,536,516 new ordinary shares at $2.28 per share for proceeds of about $65 million, giving KDDI a 14.9% stake and the...
Coincheck Group Reports Softer Trading Volumes Despite Steady Account Growth
Jun 2, 2026
Coincheck Group N.V. filed a Form 6-K on June 2, 2026, providing a monthly operational update for Coincheck, Inc. covering June 2025 through May 2026, detailing exchange and marketplace trading volumes, customer assets and verified accounts. The p...
Coincheck Posts Higher Revenue but Wider Q4 Loss and Sells 14.9% Stake to KDDI
May 12, 2026
On May 12, 2026, Coincheck Group reported results for the fourth quarter and full fiscal year ended March 31, 2026, highlighting a 25% year-on-year rise in total revenue to ¥480.2 billion but a 3% decline in Adjusted Revenue, reflecting weake...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.