CNCK
Coincheck Group N.V.
Asset Management - Cryptocurrency
Market Cap$243M
5Y Perf.-81.5%
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Stock Comparison
CNCK vs CLSK vs COIN vs MARA
Revenue, margins, valuation, and 5-year total return — side by side.
CLSK
CleanSpark, Inc.
Software - Application
Market Cap$3.58B
5Y Perf.+20.6%
COIN
Coinbase Global, Inc.
Financial - Data & Stock Exchanges
Market Cap$50.96B
5Y Perf.-15.2%
MARA
Marathon Digital Holdings, Inc.
Financial - Capital Markets
Market Cap$4.83B
5Y Perf.-59.8%
CNCK vs CLSK vs COIN vs MARA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CNCK | CLSK | COIN | MARA |
|---|---|---|---|---|
| Industry | Asset Management - Cryptocurrency | Software - Application | Financial - Data & Stock Exchanges | Financial - Capital Markets |
| Market Cap | $243M | $3.58B | $50.96B | $4.83B |
| Revenue (TTM) | $383.33B | $785M | $7.18B | $907M |
| Net Income (TTM) | $-15.82B | $-261M | $801M | $-1.31B |
| Gross Margin | 2.8% | 41.4% | 74.6% | -47.7% |
| Operating Margin | 0.7% | -26.4% | 20.0% | -90.6% |
| Forward P/E | — | 12.5x | 66.1x | — |
| Total Debt | $45.76B | $824M | $7.83B | $3.65B |
| Cash & Equiv. | $8.58B | $43M | $11.29B | $547M |
CNCK vs CLSK vs COIN vs MARA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CNCK
CLSK
COIN
MARA
| Stock | Sep 21 | May 26 | Return |
|---|---|---|---|
| Coincheck Group N.V. (CNCK) | 100 | 18.5 | -81.5% |
| CleanSpark, Inc. (CLSK) | 100 | 120.6 | +20.6% |
| Coinbase Global, In… (COIN) | 100 | 84.8 | -15.2% |
| Marathon Digital Ho… (MARA) | 100 | 40.2 | -59.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CNCK vs CLSK vs COIN vs MARA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CLSK leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Coinbase Global, Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. CNCK also leads in specific categories worth noting. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
CNCK
Coincheck Group N.V.
The Banking Pick
CNCK is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 1.99
- Lower volatility, beta 1.99, current ratio 1.07x
- Beta 1.99, current ratio 1.07x
- Beta 1.99 vs CLSK's 3.39
Best for: income & stability and sleep-well-at-night
CLSK
CleanSpark, Inc.
The Growth Play
CLSK carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 102.2%, EPS growth 262.3%, 3Y rev CAGR 79.9%
- 102.2% revenue growth vs COIN's 9.4%
- Lower P/E (12.5x vs 66.1x)
- 0.2% yield; 2-year raise streak; the other 3 pay no meaningful dividend
Best for: growth exposure
COIN
Coinbase Global, Inc.
The Banking Pick
COIN is the #2 pick in this set and the best alternative if long-term compounding is your priority.
- -41.2% 10Y total return vs MARA's -51.6%
- 17.6% margin vs MARA's -144.6%
- 2.8% ROA vs MARA's -17.1%, ROIC 5.7% vs -9.0%
Best for: long-term compounding
MARA
Marathon Digital Holdings, Inc.
The Financial Play
MARA lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: financial services exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CLSK | 102.2% revenue growth vs COIN's 9.4% |
| Value | CLSK | Lower P/E (12.5x vs 66.1x) |
| Quality / Margins | COIN | 17.6% margin vs MARA's -144.6% |
| Stability / Safety | CNCK | Beta 1.99 vs CLSK's 3.39 |
| Dividends | CLSK | 0.2% yield; 2-year raise streak; the other 3 pay no meaningful dividend |
| Momentum (1Y) | CLSK | +74.1% vs CNCK's -76.9% |
| Efficiency (ROA) | COIN | 2.8% ROA vs MARA's -17.1%, ROIC 5.7% vs -9.0% |
CNCK vs CLSK vs COIN vs MARA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2021
FY 2025
FY 2025
CNCK vs CLSK vs COIN vs MARA — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCOINLAGGINGCNCK
Who Leads Where
COIN leads in 2 of 6 categories
MARA leads 1 • CLSK leads 1 • CNCK leads 0 • 2 tied
Explore the data ↓CNCKCoincheck Group N.V.
0leads
MARAMarathon Digital Hold…
1leads
CLSKCleanSpark, Inc.
1leads
COINCoinbase Global, Inc.
2leads
6 Total Categories
CATEGORYLEADERvs CLSKvs MARAMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
COIN4/5
Valuation MetricsMultiples, price ratios, and targets
MARA2/4
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
COIN4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
CLSK1/1
Income & Cash Flow (Last 12 Months)
COIN leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
CNCK is the larger business by revenue, generating $383.3B annually — 488.2x CLSK's $785M. COIN is the more profitable business, keeping 17.6% of every revenue dollar as net income compared to MARA's -144.6%.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| RevenueTrailing 12 months | $383.3B | $785M | $7.2B | $907M |
| EBITDAEarnings before interest/tax | $2.2B | $181M | $202M | $627M |
| Net IncomeAfter-tax profit | -$15.8B | -$261M | $801M | -$1.3B |
| Free Cash FlowCash after capex | -$3.5B | -$1.0B | $2.8B | -$312M |
| Gross MarginGross profit ÷ Revenue | +2.8% | +41.4% | +74.6% | -47.7% |
| Operating MarginEBIT ÷ Revenue | +0.7% | -26.4% | +20.0% | -90.6% |
| Net MarginNet income ÷ Revenue | -3.7% | -33.2% | +17.6% | -144.6% |
| FCF MarginFCF ÷ Revenue | -0.7% | -133.1% | +33.8% | -34.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +11.6% | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +47.3% | -2.6% | -7.2% | -4.8% |
COIN leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
MARA leads this category, winning 2 of 4 comparable metrics.
Valuation Metrics
At 12.5x trailing earnings, CLSK trades at a 71% valuation discount to COIN's 43.4x P/E. On an enterprise value basis, CLSK's 6.5x EV/EBITDA is more attractive than COIN's 29.3x.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| Market CapShares × price | $243M | $3.6B | $51.0B | $4.8B |
| Enterprise ValueMkt cap + debt − cash | $481M | $4.4B | $47.5B | $7.9B |
| Trailing P/EPrice ÷ TTM EPS | -2.53x | 12.48x | 43.36x | -3.44x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | 66.07x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | 0.86x | — |
| EV / EBITDAEnterprise value multiple | 23.26x | 6.53x | 29.25x | — |
| Price / SalesMarket cap ÷ Revenue | 0.10x | 4.67x | 7.10x | 5.32x |
| Price / BookPrice ÷ Book value/share | 3.37x | 2.04x | 3.75x | 1.30x |
| Price / FCFMarket cap ÷ FCF | — | — | 21.00x | — |
MARA leads this category, winning 2 of 4 comparable metrics.
Profitability & Efficiency
Evenly matched — CLSK and COIN each lead in 4 of 9 comparable metrics.
Profitability & Efficiency
COIN delivers a 5.7% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-152 for CNCK. CLSK carries lower financial leverage with a 0.38x debt-to-equity ratio, signaling a more conservative balance sheet compared to CNCK's 4.25x. On the Piotroski fundamental quality scale (0–9), CLSK scores 5/9 vs CNCK's 2/9, reflecting solid financial health.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| ROE (TTM)Return on equity | -151.9% | -13.7% | +5.7% | -30.5% |
| ROA (TTM)Return on assets | -11.5% | -8.5% | +2.8% | -17.1% |
| ROICReturn on invested capital | +3.3% | +10.3% | +5.7% | -9.0% |
| ROCEReturn on capital employed | +19.2% | +13.7% | +8.1% | -12.1% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 | 4 | 3 |
| Debt / EquityFinancial leverage | 4.25x | 0.38x | 0.53x | 1.05x |
| Net DebtTotal debt minus cash | $37.2B | $781M | -$3.5B | $3.1B |
| Cash & Equiv.Liquid assets | $8.6B | $43M | $11.3B | $547M |
| Total DebtShort + long-term debt | $45.8B | $824M | $7.8B | $3.6B |
| Interest CoverageEBIT ÷ Interest expense | -44.19x | -18.49x | 16.97x | 4.73x |
Evenly matched — CLSK and COIN each lead in 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
COIN leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in COIN five years ago would be worth $7,317 today (with dividends reinvested), compared to $1,840 for CNCK. Over the past 12 months, CLSK leads with a +74.1% total return vs CNCK's -76.9%. The 3-year compound annual growth rate (CAGR) favors COIN at 49.2% vs CNCK's -44.0% — a key indicator of consistent wealth creation.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| YTD ReturnYear-to-date | -33.0% | +21.0% | -18.4% | +28.2% |
| 1-Year ReturnPast 12 months | -76.9% | +74.1% | -1.8% | -4.7% |
| 3-Year ReturnCumulative with dividends | -82.5% | +229.7% | +232.1% | +36.1% |
| 5-Year ReturnCumulative with dividends | -81.6% | -26.9% | -26.8% | -59.5% |
| 10-Year ReturnCumulative with dividends | -81.6% | -84.3% | -41.2% | -51.6% |
| CAGR (3Y)Annualised 3-year return | -44.0% | +48.8% | +49.2% | +10.8% |
COIN leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — CNCK and CLSK each lead in 1 of 2 comparable metrics.
Risk & Volatility
CNCK is the less volatile stock with a 1.99 beta — it tends to amplify market swings less than CLSK's 3.39 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CLSK currently trades 59.2% from its 52-week high vs CNCK's 18.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.99x | 3.39x | 3.17x | 3.11x |
| 52-Week HighHighest price in past year | $9.49 | $23.61 | $444.65 | $23.45 |
| 52-Week LowLowest price in past year | $1.40 | $7.91 | $139.36 | $6.66 |
| % of 52W HighCurrent price vs 52-week peak | +18.9% | +59.2% | +43.4% | +54.2% |
| RSI (14)Momentum oscillator 0–100 | 49.4 | 71.5 | 53.9 | 69.6 |
| Avg Volume (50D)Average daily shares traded | 169K | 19.0M | 10.8M | 47.6M |
Evenly matched — CNCK and CLSK each lead in 1 of 2 comparable metrics.
Analyst Outlook
CLSK leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: CNCK as "Hold", CLSK as "Buy", COIN as "Buy", MARA as "Buy". Consensus price targets imply 115.1% upside for CNCK (target: $4) vs 26.1% for COIN (target: $243). CLSK is the only dividend payer here at 0.24% yield — a key consideration for income-focused portfolios.
| Metric | CNCKCoincheck Group N… | CLSKCleanSpark, Inc. | COINCoinbase Global, … | MARAMarathon Digital … |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $3.85 | $20.21 | $243.33 | $16.13 |
| # AnalystsCovering analysts | 1 | 10 | 37 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | +0.2% | — | — |
| Dividend StreakConsecutive years of raises | 0 | 2 | — | — |
| Dividend / ShareAnnual DPS | — | $0.03 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +4.1% | +1.6% | +1.0% |
CLSK leads this category, winning 1 of 1 comparable metric.
Key Takeaway
COIN leads in 2 of 6 categories (Income & Cash Flow, Total Returns). MARA leads in 1 (Valuation Metrics). 2 tied.
Best OverallCoinbase Global, Inc. (COIN)Leads 2 of 6 categories
Loading custom metrics...
CNCK vs CLSK vs COIN vs MARA: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is CNCK or CLSK or COIN or MARA a better buy right now?
For growth investors, CleanSpark, Inc.
(CLSK) is the stronger pick with 102. 2% revenue growth year-over-year, versus 9. 4% for Coinbase Global, Inc. (COIN). CleanSpark, Inc. (CLSK) offers the better valuation at 12. 5x trailing P/E, making it the more compelling value choice. Analysts rate CleanSpark, Inc. (CLSK) a "Buy" — based on 10 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CNCK or CLSK or COIN or MARA?
On trailing P/E, CleanSpark, Inc.
(CLSK) is the cheapest at 12. 5x versus Coinbase Global, Inc. at 43. 4x.
03Which is the better long-term investment — CNCK or CLSK or COIN or MARA?
Over the past 5 years, Coinbase Global, Inc.
(COIN) delivered a total return of -26. 8%, compared to -81. 6% for Coincheck Group N. V. (CNCK). Over 10 years, the gap is even starker: COIN returned -41. 2% versus CLSK's -84. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CNCK or CLSK or COIN or MARA?
By beta (market sensitivity over 5 years), Coincheck Group N.
V. (CNCK) is the lower-risk stock at 1. 99β versus CleanSpark, Inc. 's 3. 39β — meaning CLSK is approximately 71% more volatile than CNCK relative to the S&P 500. On balance sheet safety, CleanSpark, Inc. (CLSK) carries a lower debt/equity ratio of 38% versus 4% for Coincheck Group N. V. — giving it more financial flexibility in a downturn.
05Which is growing faster — CNCK or CLSK or COIN or MARA?
By revenue growth (latest reported year), CleanSpark, Inc.
(CLSK) is pulling ahead at 102. 2% versus 9. 4% for Coinbase Global, Inc. (COIN). On earnings-per-share growth, the picture is similar: CleanSpark, Inc. grew EPS 262. 3% year-over-year, compared to -314. 5% for Marathon Digital Holdings, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CNCK or CLSK or COIN or MARA?
CleanSpark, Inc.
(CLSK) is the more profitable company, earning 47. 6% net margin versus -144. 6% for Marathon Digital Holdings, Inc. — meaning it keeps 47. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CLSK leads at 41. 6% versus -90. 6% for MARA. At the gross margin level — before operating expenses — COIN leads at 74. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CNCK or CLSK or COIN or MARA more undervalued right now?
Analyst consensus price targets imply the most upside for CNCK: 115.
1% to $3. 85.
08Which pays a better dividend — CNCK or CLSK or COIN or MARA?
In this comparison, CLSK (0.
2% yield) pays a dividend. CNCK, COIN, MARA do not pay a meaningful dividend and should not be held primarily for income.
09Is CNCK or CLSK or COIN or MARA better for a retirement portfolio?
For long-horizon retirement investors, Coinbase Global, Inc.
(COIN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. CleanSpark, Inc. (CLSK) carries a higher beta of 3. 39 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (COIN: -41. 2%, CLSK: -84. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CNCK and CLSK and COIN and MARA?
These companies operate in different sectors (CNCK (Financial Services) and CLSK (Technology) and COIN (Financial Services) and MARA (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: CNCK is a small-cap high-growth stock; CLSK is a small-cap high-growth stock; COIN is a mid-cap quality compounder stock; MARA is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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