Coinbase Global (COIN) AI Stock Analysis

• Market Cap: $85.81B
• Dividend Yield: N/A
• Average Volume (3M): 8.56M
• Price to Earnings (P/E): 32.6
• Beta (1Y): 2.69
• Revenue Growth: 57.56%
• EPS Growth: 84.56%
• Country: US
• Employees: 3,772
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Data & Stock Exchanges
• EPS (TTM): 5.14
• Shares Outstanding: 215,159,120
• 10 Day Avg. Volume: 9,643,520
• 30 Day Avg. Volume: 8,558,012
• PEG Ratio: <0.01
• Price to Book (P/B): 5.98
• Price to Sales (P/S): 9.36
• P/FCF Ratio: 24.02
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: 13.22
• Enterprise Value/Gross Profit: 17.91
• Enterprise Value/Ebitda: 25.15
• 1Y Price Target: $378.17
• Price Target Upside: 9.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 29

• Rating: 68 Neutral
• Price Target: $364.00 ▲(5.15% Upside)

Coinbase's overall score reflects strong financial performance and strategic growth initiatives, particularly in product expansion and regulatory opportunities. However, challenges such as market volatility, security concerns, and a high valuation relative to peers temper the outlook. The company's ability to manage these risks while capitalizing on growth opportunities will be crucial for future performance.

Positive Factors

Revenue Growth

Significant revenue growth indicates strong market demand and effective business strategies, enhancing long-term financial stability.

Product Expansion

Expanding product offerings strengthens Coinbase's competitive position and diversifies revenue streams, supporting sustainable growth.

Regulatory Opportunities

Regulatory clarity allows for strategic expansion and innovation, reducing compliance risks and fostering long-term growth opportunities.

Negative Factors

Decline in Trading Volume

A significant decline in trading volume can impact revenue from transaction fees, posing a challenge to maintaining growth momentum.

Data Breach Incident

Security breaches can damage reputation and incur substantial costs, affecting profitability and customer trust in the long term.

Market Volatility

Reduced market volatility can lead to lower trading activity, impacting revenue from transaction fees and challenging revenue stability.

Coinbase Global Business Overview & Revenue Model

Company Description

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment. The company was founded in 2012 and is based in Wilmington, Delaware.

How the Company Makes Money

Coinbase generates revenue primarily through transaction fees charged on trades executed on its platform. Users pay a fee for each transaction, which varies depending on the payment method and the size of the transaction. Additionally, Coinbase earns revenue from its subscription services and product offerings, including Coinbase Pro, which caters to professional traders with lower fees and advanced trading features. The company also generates income through staking services, where users can earn rewards for participating in the proof-of-stake networks through Coinbase. Furthermore, Coinbase has established partnerships with various financial institutions and companies to expand its services, which can enhance its revenue streams. Overall, the combination of trading fees, subscription services, and staking rewards constitutes the core of Coinbase's revenue model.

Coinbase Global Financial Statement Overview

Summary

Coinbase Global shows strong profit margins and effective equity utilization, indicating a growth trajectory. However, volatility in operational efficiency and cash flow growth suggests potential challenges.

Income Statement

Coinbase Global demonstrates strong gross profit and net profit margins in the TTM, with gross profit margin at 76.39% and net profit margin at 40.83%. Revenue growth has been significant in recent periods, indicating a positive trajectory. However, fluctuations in EBIT and EBITDA margins over the years suggest potential volatility in operational efficiency.

Balance Sheet

The balance sheet shows a stable financial structure with a debt-to-equity ratio of 0.37, indicating conservative leverage levels. Return on equity is strong at 23.66%, reflecting effective utilization of equity to generate profits. The equity ratio of 51.53% suggests moderate reliance on equity financing, ensuring financial stability.

Cash Flow

Coinbase exhibits a robust operating cash flow to net income ratio of 0.63, reflecting healthy cash generation relative to earnings. However, free cash flow growth has been inconsistent, with significant variations in recent years, indicating potential challenges in sustaining cash flow growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.01B	6.56B	3.11B	3.19B	7.84B	1.28B
Gross Profit	5.17B	4.91B	1.97B	2.56B	6.10B	1.14B
EBITDA	3.68B	3.15B	145.56M	-2.82B	3.12B	439.91M
Net Income	2.86B	2.58B	94.87M	-2.62B	3.62B	322.32M
Balance Sheet
Total Assets	23.48B	22.54B	14.75B	89.72B	21.27B	5.86B
Cash, Cash Equivalents and Short-Term Investments	9.55B	9.55B	5.53B	5.29B	7.22B	1.11B
Total Debt	4.41B	4.32B	2.99B	3.49B	3.51B	379.08M
Total Liabilities	11.38B	12.27B	8.47B	84.27B	14.89B	4.89B
Stockholders Equity	12.09B	10.28B	6.28B	5.45B	6.38B	963.58M
Cash Flow
Free Cash Flow	1.81B	2.56B	922.95M	-1.59B	3.96B	2.99B
Operating Cash Flow	1.81B	2.56B	922.95M	-1.59B	4.04B	3.00B
Investing Cash Flow	-1.05B	-282.38M	5.39M	-663.82M	-1.12B	50.82M
Financing Cash Flow	549.99M	2.83B	-811.33M	-5.84B	9.98B	18.80M

Coinbase Global Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 346.17
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COIN, the sentiment is Positive. The current price of 346.17 is above the 20-day moving average (MA) of 323.05, above the 50-day MA of 326.21, and above the 200-day MA of 273.72, indicating a bullish trend. The MACD of 3.41 indicates Negative momentum. The RSI at 60.20 is Neutral, neither overbought nor oversold. The STOCH value of 75.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COIN.

Coinbase Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CBOE	77 Outperform	$25.27B	28.75	19.26%	1.08%	18.99%	17.97%
CME	77 Outperform	$95.80B	26.15	13.54%	4.02%	11.15%	13.98%
HOOD	77 Outperform	$123.65B	70.67	22.15%	―	58.58%	508.72%
SOFI	75 Outperform	$30.54B	51.96	8.19%	―	22.60%	―
ICE	71 Outperform	$93.10B	32.34	10.56%	1.16%	11.44%	29.10%
COIN	68 Neutral	$85.81B	32.65	27.96%	―	57.56%	84.56%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Coinbase Global Corporate Events

Coinbase Registers Shares for Resale with SEC

On August 15, 2025, Coinbase Global, Inc. filed a prospectus supplement to its shelf registration statement with the SEC to register for resale up to 10,997,856 shares of Class A Common Stock by selling stockholders. This action is part of fulfilling registration rights under a Share Purchase Agreement with Sentillia B.V. and its shareholders, potentially impacting the company’s stock liquidity and market dynamics.

Coinbase Global Completes $3 Billion Convertible Notes Offering

On August 8, 2025, Coinbase Global, Inc. completed a private offering of $3 billion in 0% Convertible Senior Notes due in 2029 and 2032. The proceeds from this offering, approximately $2.957 billion, will be used for general corporate purposes, including potential investments and acquisitions. The issuance of these notes is expected to impact Coinbase’s financial strategy by providing additional capital for growth and operational flexibility.

Coinbase Global Announces $2.6 Billion Notes Offering

On August 5, 2025, Coinbase Global announced the pricing of its upsized offering of $2.6 billion in 0% convertible senior notes due in 2029 and 2032. The company plans to use the proceeds for general corporate purposes, including potential investments and acquisitions, and to manage existing debt, which could impact its financial flexibility and market positioning.

Coinbase Announces $2 Billion Convertible Notes Offering

On August 5, 2025, Coinbase Global, Inc. announced its plan to offer $2 billion in convertible senior notes due in 2029 and 2032, subject to market conditions. This private offering is aimed at qualified institutional buyers and includes options for additional purchases. The proceeds are intended for capped call transactions to reduce potential stock dilution and for general corporate purposes, potentially impacting Coinbase’s market position and stakeholder interests.

Coinbase Global Holds Annual Stockholders Meeting

On June 18, 2025, Coinbase Global, Inc. held its annual meeting of stockholders where three key proposals were voted on. The stockholders elected ten directors to serve until the 2026 meeting, ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2025, and approved the compensation for the company’s executive officers. These decisions reflect the company’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder relations.