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Coincheck Group
(NASDAQ:CNCK)
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Rating:40Underperform
Price Target:
$1.50
▼(-27.88% Downside)
Action:Reiterated
Date:10/09/26
The score is held down primarily by weak financial performance—ongoing losses, negative operating/free cash flow, and increased leverage despite strong revenue growth. Technicals are also unfavorable with the price below key moving averages and negative MACD, though oversold indicators slightly temper the downside. Valuation is pressured by a negative P/E and no dividend yield support in the provided data.
Positive Factors
Strong Revenue Growth
The sharp increase in revenue demonstrates substantial operating scale and continued demand for Coincheck’s services. If the expanded revenue base persists, it can support broader product investment and improve the company’s ability to absorb fixed costs over the next several quarters.
Negative Factors
Weak Profitability
Very thin gross margins and continuing net losses indicate that strong revenue growth is not yet translating into durable earnings. This limits internally funded investment, leaves results sensitive to activity and pricing conditions, and makes the path to sustainable profitability less certain.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The sharp increase in revenue demonstrates substantial operating scale and continued demand for Coincheck’s services. If the expanded revenue base persists, it can support broader product investment and improve the company’s ability to absorb fixed costs over the next several quarters.
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
$251.26M
Dividend YieldN/A
Average Volume (3M)57.49K
Price to Earnings (P/E)―
Beta (1Y)1.39
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees303
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-9.39
Shares Outstanding191,797,970
10 Day Avg. Volume83,356
30 Day Avg. Volume57,491
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-0.18
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda-0.15
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-23.43
Revenue Forecast (FY)$449.53B
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....
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 | 60.00M | -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
1.74
Negative
1.98
Negative
2.08
Negative
Market Momentum
-0.13
Negative
29.49
Positive
40.81
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 1.37, above the 50-day MA of 1.74, and above the 200-day MA of 2.08, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 29.49 is Positive, neither overbought nor oversold. The STOCH value of 40.81 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.97B | 8.08 | 18.97% | ― | 9.87% | 32.48% | |
68 Neutral | $91.64B | 44.13 | 22.70% | ― | 39.14% | 14.06% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $714.68M | -6.60 | -31.84% | ― | ― | ― | |
54 Neutral | $520.53M | 7.34 | 11.32% | ― | ― | ― | |
45 Neutral | $410.78M | -0.76 | -97.61% | ― | 28.47% | -28.35% | |
40 Underperform | $251.26M | -22.07 | -8.41% | ― | ― | ― |
* Financial Sector Average
CNCK
Coincheck Group
1.29
-2.88
-69.06%
HOOD
Robinhood
96.58
-37.75
-28.10%
CSHR
CoinShares
4.03
-7.52
-65.11%
ETOR
eToro
24.30
-13.74
-36.12%
GEMI
Gemini Space Station, Inc. Class A
3.17
-16.39
-83.79%
BTGO
BitGo Holdings, Inc. Class A
5.82
-12.67
-68.52%
Coincheck Group Corporate Events
Coincheck Group Reports Year of Monthly Crypto Exchange Metrics Through September 2026
Oct 2, 2026
Coincheck Group N.V. filed a Form 6-K on October 2, 2026, providing preliminary monthly operating data for Coincheck, Inc. over the twelve months from October 2025 through September 2026. The disclosure covers exchange and marketplace trading volu...
Coincheck Group Shareholders Approve 2026 AGM Resolutions, Grant Broad Capital Powers
Sep 28, 2026
On September 25, 2026, Coincheck Group held its annual general meeting of shareholders in Amsterdam, where investors approved the remuneration report and adopted the annual accounts for the year ended March 31, 2026, while also granting discharge ...
Coincheck Group Reshapes Board Leadership as Executive Chairperson Oyagi Resigns
Sep 17, 2026
Coincheck Group N.V. announced that Executive Director and Executive Chairperson Takashi Oyagi resigned effective September 17, 2026, and will not stand for re-election at the annual general meeting on September 25, 2026. The company stressed that...
Coincheck Group Reports Year-Long Monthly Metrics Ahead of Crypto-as-a-Service Shift
Sep 2, 2026
Coincheck Group N.V. disclosed preliminary monthly operating metrics for Coincheck, Inc. covering September 2025 through August 2026, providing insight into trading activity, customer assets and verified accounts over the past year. The figures, r...
Coincheck Group Posts Q1 FY2026 Interim Results to Investors via SEC Filing
Aug 14, 2026
On August 14, 2026, Coincheck Group filed a Form 6-K with the U.S. Securities and Exchange Commission, furnishing unaudited condensed consolidated interim financial statements for June 30, 2026 and March 31, 2026, covering the three months ended J...
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...
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.