Last 24 quarters of trend data · Financial Services · Financial - Data & Stock Exchanges
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
EV/EBITDA has expanded 1987.3% YoY to 305.4x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 43.36 | — | — | 56.25 | 17.05 | 179.41 | 13.26 | 159.08 | 396.84 | 15.06 | 41.41 | — | — |
| — | — | — | -64.6% | -95.7% | +1091.0% | -68.0% | — | — | — | — | — | — | |
| P/S Ratio | 7.10 | 8.18 | 14.69 | 13.18 | 16.32 | 5.74 | 7.56 | 9.88 | 10.23 | 10.84 | 11.91 | 6.61 | 5.93 |
| — | +42.5% | +94.3% | +33.4% | +59.6% | -47.1% | -36.5% | +49.6% | +72.5% | +114.2% | +279.4% | +8.0% | +84.5% | |
| P/B Ratio | 3.75 | 3.43 | 4.10 | 6.15 | 8.08 | 4.46 | 6.69 | 5.46 | 7.08 | 8.80 | 7.23 | 3.01 | 2.92 |
| — | -23.2% | -38.7% | +12.6% | +14.1% | -49.3% | -7.5% | +81.5% | +142.8% | +219.3% | +399.5% | +17.2% | +63.2% | |
| P/FCF | 21.00 | 63.25 | 4.95 | — | 74.40 | — | 17.81 | 17.10 | 30.62 | 43.16 | — | 14.19 | 27.77 |
| — | — | -72.2% | — | +143.0% | — | — | +20.6% | +10.2% | +411.1% | — | — | — | |
| EV / EBITDA | 29.25 | 305.43 | — | 45.81 | 2557.19 | 14.63 | 15.18 | 55.47 | 37.43 | 21.79 | 74.66 | — | — |
| — | +1987.3% | — | -17.4% | +6731.8% | -32.8% | -79.7% | — | — | — | — | — | — | |
| EV / EBIT | 33.09 | — | — | 48.21 | 12.83 | 105.04 | 10.68 | 124.63 | — | 11.81 | 71.46 | 71.23 | — |
| — | — | — | -61.3% | — | +789.0% | -85.1% | +75.0% | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Coinbase Global, Inc.'s operating margin was 2.5% in Q1 2026, up 45.5 pp QoQ and down 32.2 pp YoY. The trailing four-quarter average of -4.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 14.4% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.6% | 86.1% | 71.9% | 86.4% | 71.5% | 75.3% | 75.6% | 71.0% | 73.8% | 75.0% | 71.1% | 61.0% | 61.8% |
| — | +14.4% | -4.8% | +21.8% | -3.1% | +0.4% | +6.2% | +16.4% | +19.4% | +11.9% | -18.1% | +17.9% | -22.0% | |
| Operating Margin | 20.0% | 2.5% | -43.1% | 25.7% | -1.6% | 34.7% | 45.5% | 14.1% | 23.7% | 46.4% | 12.1% | -11.8% | -10.4% |
| — | -92.8% | -194.6% | +82.8% | -107.0% | -25.3% | +275.5% | +218.8% | +327.7% | +389.6% | +113.7% | +87.4% | +92.0% | |
| Net Margin | 17.6% | -27.9% | -64.6% | 23.1% | 95.4% | 3.2% | 56.8% | 6.3% | 2.5% | 71.8% | 28.7% | -0.3% | -13.8% |
| — | -964.9% | -213.6% | +269.5% | +3727.1% | -95.5% | +98.3% | +1964.3% | +118.1% | +803.3% | +132.4% | +99.6% | +89.8% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | -2.8% | -4.3% | 3.1% | 12.7% | 0.6% | 13.6% | 0.9% | 0.4% | 16.4% | 4.5% | -0.0% | -1.7% |
| — | -540.8% | -131.8% | +248.4% | +2780.6% | -96.1% | +203.2% | +2375.8% | +125.8% | +1256.1% | +144.6% | +99.6% | +90.4% | |
| ROA | 4.8% | -1.3% | -2.2% | 1.6% | 6.3% | 0.3% | 0.8% | 0.0% | 0.0% | 0.6% | 0.4% | -0.0% | -0.1% |
| — | -554.4% | -364.9% | +5945.6% | +55352.6% | -54.3% | +114.2% | +1635.3% | +116.2% | +1041.1% | +169.4% | +99.7% | +95.9% | |
| ROIC | 5.7% | 0.1% | -1.4% | 1.8% | -0.1% | 3.5% | 5.5% | 1.0% | 2.0% | 5.2% | 0.9% | -0.7% | -0.6% |
| — | -96.6% | -126.3% | +85.1% | -105.8% | -32.2% | +483.2% | +247.7% | +434.1% | +605.5% | +120.5% | +85.4% | +92.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Coinbase Global, Inc.'s Debt/EBITDA ratio is 205.2x — elevated, raising questions about debt serviceability. The current ratio has weakened 14.9% YoY to 2.14x, tightening the short-term liquidity position. Debt/Equity has risen for 4 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.53 | 0.53 | 0.53 | 0.46 | 0.36 | 0.44 | 0.45 | 0.52 | 0.53 | 0.56 | 0.49 | 0.52 | 0.58 |
| — | +21.9% | +17.5% | -10.7% | -31.7% | -21.4% | -7.1% | -1.4% | -8.5% | -7.3% | -24.2% | -15.4% | -2.7% | |
| Debt / EBITDA | 4.82 | 205.16 | — | 13.89 | 476.65 | 6.22 | 4.34 | 22.46 | 11.83 | 5.71 | 21.00 | — | — |
| — | +3200.4% | — | -38.1% | +3930.7% | +8.9% | -79.3% | — | — | — | — | — | — | |
| Current Ratio | 2.34 | 2.14 | 2.34 | 2.40 | 2.13 | 2.52 | 2.28 | 1.03 | 1.03 | 1.02 | 2.07 | 1.05 | 1.04 |
| — | -14.9% | +2.7% | +133.0% | +106.1% | +145.8% | +10.2% | -1.5% | -1.3% | -1.8% | +93.6% | -0.7% | -1.6% | |
| Quick Ratio | 2.34 | 2.14 | 2.34 | 2.40 | 2.13 | 2.52 | 2.28 | 1.03 | 1.03 | 1.02 | 2.07 | 1.05 | 1.04 |
| — | -14.9% | +2.7% | +133.0% | +106.1% | +145.8% | +10.2% | -1.5% | -1.3% | -1.8% | +93.6% | -0.7% | -1.6% | |
| Interest Coverage | 18.82 | 1.56 | -38.23 | 23.16 | 89.81 | 5.02 | 73.89 | 4.34 | -1.94 | 76.37 | 8.09 | 2.66 | -2.63 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 24 years · Updated daily
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Coinbase Global, Inc.'s current P/E is 43.4x. The average P/E over the last 2 quarters is 36.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Coinbase Global, Inc.'s current operating margin is 20.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Coinbase Global, Inc.'s business trajectory between earnings reports.