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Coinbase (COIN) valuation

Run six valuation models on Coinbase with live data: DCF, Reverse DCF, Graham number, Monte Carlo, scenarios and sum-of-the-parts (NAV).

COIN
COIN

Coinbase

COIN · Financial Services

Current price

148,20 USD

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Valuation

Market cap
$39.1B
PE (TTM | NTM | +1y)
— | 49.03 | 49.03
Price / Sales
6.47
EV / EBITDA
53.01
Price / Book
2.99

Cash flow

FCF yield(11.98 / 148.20)
+8.08%
SBC-adjusted FCF yield(7.76 / 148.20)
+5.24%
SBC impact
-35.19%

Margins & growth

Profit margin
-16.34%
Operating margin
-13.92%
Quarterly earnings (YoY)
-125.16%
Quarterly revenue (YoY)
-18.51%

Balance

Cash
$8.79B
Debt
$6.67B
Net position
$2.12B

Dividend

Dividend yield
—
Payout ratio
0%
Next payout
—

Price (1 year)

-53.33%
$380.02

Revenue

estimate
Q3 20: $315.36MQ3 20Q4 20: $585.11MQ1 21: $1.8BQ2 21: $2.23BQ3 21: $1.31BQ3 21Q4 21: $2.5BQ1 22: $1.17BQ2 22: $808.33MQ3 22: $590.34MQ3 22Q4 22: $629.11MQ1 23: $772.53MQ2 23: $707.91MQ3 23: $674.15MQ3 23Q4 23: $953.8MQ1 24: $1.64BQ2 24: $1.45BQ3 24: $1.21BQ3 24Q2 25: $1.5BQ3 25: $1.87BQ4 25: $1.78BQ1 26: $1.41BQ2 26: $1.22BQ2 26Q3 26 · estimate: $1.16BQ3 26$2.5B

EBITDA

Q2 25: $1.88BQ2 25Q3 25: $574MQ3 25Q4 25: -$792.6MQ4 25Q1 26: -$374.13MQ1 26Q2 26: -$308.49MQ2 26$1.88B

Net income

Q3 20: $81.3MQ3 20Q4 20: $176.79MQ1 21: $771.46MQ2 21: $1.61BQ3 21: $406.1MQ3 21Q4 21: $816.09MQ1 22: -$429.66MQ2 22: -$1.09BQ3 22: -$544.64MQ3 22Q4 22: -$532.05MQ1 23: -$78.9MQ2 23: -$97.41MQ3 23: -$2.27MQ3 23Q4 23: $278.57MQ1 24: $1.18BQ2 24: $36.15MQ3 24: $75.5MQ3 24Q2 25: $1.43BQ3 25: $432.55MQ4 25: -$666.73MQ1 26: -$394.12MQ2 26: -$359.47MQ2 26$1.61B

Free cash flow

Q1 21: $3.41BQ1 21Q1 22: -$92.56MQ1 23: $463.03MQ1 23Q2 25: $240.08MQ3 25: -$1.73BQ3 25Q4 25: $3.07BQ1 26: $182.74MQ2 26: $197.31MQ2 26$3.41B

EPS

estimate
Q3 20: 0.23Q3 20Q4 20: 1.17Q1 21: 3.05Q2 21: 6.42Q3 21: 1.62Q3 21Q4 21: 3.41Q1 22: -1.98Q2 22: -4.98Q3 22: -2.43Q3 22Q4 22: -2.44Q1 23: -0.34Q2 23: -0.42Q3 23: -0.01Q3 23Q4 23: 1.14Q1 24: 4.40Q2 24: 0.14Q3 24: 0.28Q3 24Q2 25: 5.14Q3 25: 1.50Q4 25: -2.49Q1 26: -1.49Q2 26: -1.36Q2 26Q3 26 · estimate: -0.15Q3 266.42

Cash & debt

CashDebt
Q3 20 · Cash: $766.26MQ3 20Q4 20 · Cash: $1.06BQ1 21 · Cash: $1.98BQ2 21 · Cash: $4.37BQ3 21 · Cash: $6.35BQ3 21Q4 21 · Cash: $7.12BQ1 22 · Cash: $6.12BQ2 22 · Cash: $5.68BQ3 22 · Cash: $5.01BQ3 22Q4 22 · Cash: $4.43BQ1 23 · Cash: $5.02BQ2 23 · Cash: $5.17BQ3 23 · Cash: $5.1BQ3 23Q4 23 · Cash: $5.49BQ1 24 · Cash: $6.71BQ2 24 · Cash: $7.23BQ3 24 · Cash: $7.72BQ3 24Q4 24 · Cash: $8.54BQ1 25 · Cash: $8.05BQ2 25 · Cash: $7.54BQ2 25 · Debt: $4.41BQ3 25 · Cash: $8.68BQ3 25 · Debt: $7.37BQ3 25Q4 25 · Cash: $11.29BQ4 25 · Debt: $7.83BQ1 26 · Cash: $10.21BQ1 26 · Debt: $7.96BQ2 26 · Cash: $8.61BQ2 26 · Debt: $6.67BQ2 26$11.29B

Return of capital

DividendsBuybacks
Q1 26 · Buybacks: $1.06BQ1 26Q2 26 · Buybacks: $181.25MQ2 26$1.06B

Shares outstanding

Q2 25: 256.43MQ2 25Q3 25: 268.74MQ3 25Q4 25: 267.84MQ4 25Q1 26: 263.41MQ1 26Q2 26: 263.78MQ2 26268.74M

Stock-based compensation

Q1 21: $104.63MQ1 21Q1 22: $352.14MQ1 23: $198.86MQ1 23Q1 24: $224.5MQ2 25: $196.16MQ2 25Q3 25: $222.07MQ4 25: $230.48MQ4 25Q1 26: $248.06MQ2 26: $238.34MQ2 26$352.14M

Operating expenses

R&DSG&A
Q3 20 · R&D: $73.32MQ3 20 · SG&A: $71.43MQ3 20Q4 20 · R&D: $90.5MQ4 20 · SG&A: $97.5MQ1 21 · R&D: $184.23MQ1 21 · SG&A: $121.23MQ2 21 · R&D: $291.46MQ2 21 · SG&A: $248.2MQ3 21 · R&D: $356.26MQ3 21 · SG&A: $242.64MQ3 21Q4 21 · R&D: $459.61MQ4 21 · SG&A: $297.32MQ1 22 · R&D: $570.66MQ1 22 · SG&A: $413.58MQ2 22 · R&D: $609.25MQ2 22 · SG&A: $470.17MQ3 22 · R&D: $556.34MQ3 22 · SG&A: $339.16MQ3 22Q4 22 · R&D: $590.1MQ4 22 · SG&A: $377.68MQ1 23 · R&D: $358.03MQ1 23 · SG&A: $248.76MQ2 23 · R&D: $320.67MQ2 23 · SG&A: $258.99MQ3 23 · R&D: $322.76MQ3 23 · SG&A: $252.63MQ3 23Q4 23 · R&D: $323.09MQ4 23 · SG&A: $313.93MQ1 24 · R&D: $357.86MQ1 24 · SG&A: $287.24MQ2 24 · R&D: $364.26MQ2 24 · SG&A: $320.12MQ3 24 · R&D: $377.44MQ3 24 · SG&A: $330.39MQ3 24Q2 25 · R&D: $387.32MQ2 25 · SG&A: $409.88MQ3 25 · R&D: $430.59MQ3 25 · SG&A: $457.54MQ4 25 · R&D: $497.33MQ4 25 · SG&A: $568.68MQ1 26 · R&D: $525.65MQ1 26 · SG&A: $410.08MQ2 26 · R&D: $472.85MQ2 26 · SG&A: $395.1MQ2 26$1.08B

Source: Yahoo Finance. Quarterly history grows automatically over time as new quarters are published.

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