Want to see CSHR full AI Analyst Report?
Top Page
CoinShares
(NASDAQ:CSHR)
Select Model
Select Model
Rating:56Neutral
Price Target:
$6.00
▲(7.14% Upside)
Action:Reiterated
Date:09/19/26
The score is held back primarily by weak cash-flow generation and high financial volatility despite a strong, low-leverage balance sheet. Technicals are moderately supportive in the short term but still below the 200-day trend, while valuation is a positive offset due to a low P/E. Earnings-call commentary was constructive on balance-sheet strength and flows/AUM recovery, but lack of guidance and recent profitability pressure temper confidence.
Positive Factors
Resilient client demand
Positive net inflows during a severe market contraction indicate that client demand and distribution remain durable, with AUM pressure driven mainly by asset prices rather than widespread redemptions. This supports recovery potential when digital asset markets stabilize.
Negative Factors
Market-sensitive earnings
The sharp decline in revenue and EBITDA shows that CoinShares remains highly exposed to digital asset prices and average AUM. This sensitivity can create substantial earnings variability and makes sustained profitability less dependable across market cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient client demand
Positive net inflows during a severe market contraction indicate that client demand and distribution remain durable, with AUM pressure driven mainly by asset prices rather than widespread redemptions. This supports recovery potential when digital asset markets stabilize.
Read all positive factors
CoinShares (CSHR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$770.91M
Dividend YieldN/A
Average Volume (3M)269.58K
Price to Earnings (P/E)6.4
Beta (1Y)-0.25
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees93
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.18
Shares Outstanding131,780,210
10 Day Avg. Volume423,256
30 Day Avg. Volume269,580
Financial Highlights & Ratios
PEG Ratio-0.62
Price to Book (P/B)1.36
Price to Sales (P/S)0.00
P/FCF Ratio-2.61K
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 Target
$9.00Price Target Upside60.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.5
Revenue Forecast (FY)$135.00M
CoinShares Business Overview & Revenue Model
Company Description
CoinShares PLC, a Jersey-based entity, focuses on crafting financial products that utilize digital assets and blockchain technology. The company's business is organized into three primary segments: Asset Management, Capital Markets, and Principal ...
How the Company Makes Money
CoinShares makes money primarily through fees and revenue earned across its digital-asset investment products and related financial services. (1) Management and product fees: A core revenue stream is management fees charged on assets under managem...
CoinShares Earnings Call Summary
Earnings Call Date:Sep 14, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 30, 2027
Earnings Call Sentiment Positive
The call was positive overall. Management emphasized resilience through a severe digital asset market contraction, positive net flows, continued profitability in both operating segments, a strong debt-free balance sheet, subsequent AUM recovery, continued product expansion, and capital-allocation flexibility. These strengths outweighed the significant declines in AUM, revenue, EBITDA, and reported operating results, as well as the unrealized treasury and XBT-related losses.Positive Updates
Positive Net Flows Despite Market Contraction
CoinShares generated approximately $28 million of positive net inflows during H1 2026, despite the sharp decline in digital asset prices. Management stated that the AUM reduction was overwhelmingly market-driven rather than caused by client redemptions.
Negative Updates
Sharp Digital Asset Market Decline
The first half was described as one of the sharpest digital asset market contractions in recent years. Bitcoin declined approximately 32% since the beginning of the year, Ethereum declined approximately 48%, and CoinShares' AUM declined approximately 25% during the period.
Read all updates
Q2-2026 Updates
Positive
Negative
Positive Net Flows Despite Market Contraction
CoinShares generated approximately $28 million of positive net inflows during H1 2026, despite the sharp decline in digital asset prices. Management stated that the AUM reduction was overwhelmingly market-driven rather than caused by client redemptions.
Read all positive updates
Company Guidance
The call provided no forward cost guidance: approximately $41.3 million was described as purely an illustration of the underlying H1 cost base rather than providing any forward cost guidance, and the AUM and revenue scenarios were explicitly “not forecasts or guidance,” showing approximately $5.5 billion of AUM at June 2026 pricing, approximately $7.4 billion at December 2025 reference prices and $8.1 billion at June 2025 reference pricing, with annualized first-half revenue and gains of approximately $113 million, approximately $162.2 million and $185.6 million, respectively; the board proposed a multi-year share repurchase program of up to 25% of shares outstanding, subject to shareholder approval, with authority for 32.9 million shares described as a ceiling rather than a target, while Q3 demand was described as still there, “Albeit a little bit slower by the summer.”CoinShares Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
71
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 118.19M | 0.00 | 109.58M | 65.39M | 15.63M | 108.99M |
| Gross Profit | 99.42M | 0.00 | 92.80M | 51.73M | 7.97M | 88.84M |
| EBITDA | 126.81M | 8.67M | 146.15M | 57.58M | 641.16M | -3.24B |
| Net Income | 114.93M | 5.53M | 130.95M | 46.82M | 629.57M | -3.26B |
Balance Sheet | ||||||
| Total Assets | 229.89M | 233.67M | 6.02B | 3.48B | 1.23B | 5.40B |
| Cash, Cash Equivalents and Short-Term Investments | 606.00K | 91.87K | 1.22B | 301.78M | 132.96M | 1.36B |
| Total Debt | 72.19M | 249.65K | 53.87M | 33.32M | 0.00 | 218.23M |
| Total Liabilities | 9.17M | 3.72M | 5.63B | 3.18B | 1.03B | 5.13B |
| Stockholders Equity | 220.72M | 229.95M | 393.95M | 304.77M | 0.00 | 269.95M |
Cash Flow | ||||||
| Free Cash Flow | 68.65M | -119.41K | -89.12M | -97.89M | 0.00 | 0.00 |
| Operating Cash Flow | 158.06M | -119.41K | -87.45M | -96.60M | 0.00 | 0.00 |
| Investing Cash Flow | -165.82M | -6.56M | 11.56M | -1.36M | 0.00 | 0.00 |
| Financing Cash Flow | 165.33M | 149.79K | 52.25M | -4.22M | 24.27M | 16.94M |
CoinShares Technical Analysis
Positive
5.60
Price Trends
5.04
Positive
4.94
Positive
7.40
Negative
Market Momentum
0.03
Positive
58.86
Neutral
55.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CSHR, the sentiment is Positive. The current price of 5.6 is below the 20-day moving average (MA) of 5.61, above the 50-day MA of 5.04, and below the 200-day MA of 7.40, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 58.86 is Neutral, neither overbought nor oversold. The STOCH value of 55.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CSHR.
CoinShares Risk Analysis
CoinShares disclosed 110 risk factors in its most recent earnings report. CoinShares reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CoinShares Peers Comparison
UnderperformOutperform
Sector (68)
CSHR
CoinShares
5.85
-4.80
-45.07%
UMAC
Unusual Machines Inc.
23.18
8.83
61.53%
POLE
Andretti Acquisition Corp. II Class A
10.72
0.27
2.58%
ALDF
Aldel Financial II, Inc. Class A
10.81
0.40
3.79%
PMTR
Perimeter Acquisition Corp. I Class A
10.41
0.18
1.76%
CRAQ
Cal Redwood Acquisition Corp. Class A
10.39
0.39
3.95%
CoinShares Corporate Events
CoinShares Shareholders Back Buyback Authority and 2026 Equity Incentive Plan
Sep 16, 2026
On 15 September 2026, CoinShares PLC held an extraordinary general meeting where shareholders voted on four resolutions, with 71.24% of eligible voting shares participating in the poll. The high turnout underscored strong shareholder engagement in...
CoinShares Posts H1 2026 Loss but Maintains Strong Balance Sheet and Net Inflows
Sep 14, 2026
CoinShares reported results on September 14, 2026 for the six months ended June 30, 2026, showing total revenue of $51.4 million versus $80.0 million a year earlier, as falling digital asset prices cut average assets under management and reduced c...
CoinShares Sets September Virtual Extraordinary General Meeting Under Jersey Law
Aug 24, 2026
CoinShares PLC has called a virtual Extraordinary General Meeting (EGM) for September 15, 2026, at 16:00 Jersey time, with voting conducted by poll on a one-share-one-vote basis. The company published the notice and proxy statement on August 21, 2...
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.