7 years of historical data (2019–2025) · Financial Services · Financial - Data & Stock Exchanges
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Coinbase Global, Inc. trades at 39.5x earnings, 72% below its 5-year average of 141.1x, sitting at the 67th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 187%. On a free-cash-flow basis, the stock trades at 3.0x P/FCF, 90% below the 5-year average of 28.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.3B | $64.9B | $67.9B | $44.2B | $7.9B | $55.5B | — | — |
| Enterprise Value | $3.4B | $61.0B | $64.0B | $42.1B | $6.9B | $51.9B | — | — |
| P/E Ratio → | 39.52 | 50.82 | 26.19 | 470.05 | — | 17.40 | — | — |
| P/S Ratio | 1.10 | 9.79 | 10.34 | 14.23 | 2.46 | 7.08 | — | — |
| P/B Ratio | 3.41 | 4.39 | 6.61 | 7.04 | 1.44 | 8.70 | — | — |
| P/FCF | 3.01 | 26.77 | 26.55 | 47.94 | — | 14.03 | — | — |
| P/OCF | 3.01 | 26.77 | 26.55 | 47.94 | — | 13.75 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Coinbase Global, Inc.'s enterprise value stands at 3.1x EBITDA, 91% below its 5-year average of 32.8x. The Financial Services sector median is 11.1x, placing the stock at a 72% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.20 | 9.74 | 13.54 | 2.17 | 6.62 | — | — |
| EV / EBITDA | 3.06 | 55.70 | 26.27 | — | — | 16.53 | — | — |
| EV / EBIT | 3.70 | 37.94 | 21.16 | 7110.12 | — | 16.98 | — | — |
| EV / FCF | — | 25.14 | 25.02 | 45.61 | — | 13.12 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Coinbase Global, Inc. earns an operating margin of 13.7%, below the Financial Services sector average of 21.9%. Operating margins have expanded from -5.2% to 13.7% over the past 3 years, signaling improving operational efficiency. ROE of 10.1% is modest. ROIC of 3.6% represents below-average returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.8% | 81.8% | 74.7% | 63.5% | 80.3% | 77.8% | 89.4% | 84.6% |
| Operating Margin | 13.7% | 13.7% | 35.1% | -5.2% | -84.8% | 39.2% | 32.0% | -6.7% |
| Net Profit Margin | 19.0% | 19.0% | 39.3% | 3.1% | -82.2% | 46.2% | 25.2% | -5.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 31.2% | 1.6% | -44.4% | 98.7% | 44.1% | -6.1% |
| ROA | 4.8% | 4.8% | 13.8% | 0.2% | -4.7% | 26.7% | 7.8% | -1.3% |
| ROIC | 3.6% | 3.6% | 14.3% | -1.3% | -21.6% | 41.1% | 31.1% | -4.3% |
| ROCE | 4.3% | 4.3% | 19.3% | -1.8% | -28.9% | 53.7% | 29.5% | -3.1% |
Solvency and debt-coverage ratios — lower is generally safer
Coinbase Global, Inc. carries a Debt/EBITDA ratio of 7.0x, which is highly leveraged (70% above the sector average of 4.1x). The company holds a net cash position — cash of $11.6B exceeds total debt of $7.7B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 10.6x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.52 | 0.52 | 0.45 | 0.48 | 0.64 | 0.55 | 0.39 | 0.26 |
| Debt / EBITDA | 6.99 | 6.99 | 1.90 | — | — | 1.12 | 0.86 | — |
| Net Debt / Equity | — | -0.27 | -0.38 | -0.34 | -0.17 | -0.57 | -0.71 | -0.84 |
| Net Debt / EBITDA | -3.62 | -3.62 | -1.61 | — | — | -1.15 | -1.55 | — |
| Debt / FCF | — | -1.63 | -1.53 | -2.32 | — | -0.91 | -0.23 | — |
| Interest Coverage | 10.61 | 10.61 | 28.61 | -1.95 | -30.49 | 105.51 | — | — |
Net cash position: cash ($11.6B) exceeds total debt ($7.7B)
Short-term solvency ratios and asset-utilisation metrics
Coinbase Global, Inc.'s current ratio of 7.89x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.07x to 7.89x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 7.89 | 7.89 | 2.28 | 2.07 | 1.07 | 1.61 | 1.21 | 1.62 |
| Quick Ratio | 7.89 | 7.89 | 2.28 | 2.07 | 1.07 | 1.61 | 1.21 | 1.62 |
| Cash Ratio | 6.75 | 6.75 | 1.08 | 0.94 | 0.05 | 0.62 | 0.25 | 0.45 |
| Asset Turnover | — | 0.22 | 0.29 | 0.21 | 0.04 | 0.37 | 0.22 | 0.22 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Coinbase Global, Inc. returns 10.8% to shareholders annually primarily through share buybacks. The earnings yield of 2.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 2.0% | 3.8% | 0.2% | — | 5.7% | — | — |
| FCF Yield | 33.2% | 3.7% | 3.8% | 2.1% | — | 7.1% | — | — |
| Buyback Yield | 10.8% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 10.8% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $287M | $273M | $254M | $222M | $220M | $186M | $67M |
Includes 30+ ratios · 7 years · Updated daily
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Start ComparisonCoinbase Global, Inc.'s current P/E ratio is 39.5x. The historical average is 31.5x. This places it at the 67th percentile of its historical range.
Coinbase Global, Inc.'s current EV/EBITDA is 3.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 32.8x.
Coinbase Global, Inc.'s return on equity (ROE) is 10.1%. The historical average is 19.3%.
Based on historical data, Coinbase Global, Inc. is trading at a P/E of 39.5x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Coinbase Global, Inc. has 81.8% gross margin and 13.7% operating margin. Operating margin between 10-20% is typical for established companies.
Coinbase Global, Inc.'s Debt/EBITDA ratio is 7.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.