Coinbase Global, Inc. (COIN) Stock Analysis
Coinbase Global, Inc. by the reported numbers
On the most recently reported figures, Coinbase Global, Inc. (COIN) shows revenue up 9.4% and earnings per share down 53.1% year over year.
The business runs a net margin of 17.6% and a 17.0% return on invested capital.
Its balance sheet carries net debt at -5.1× EBITDA.
The ImpliedLens normalized earnings-value model places the shares 74.2% below the current price under its disclosed assumptions, which you can change. At today's price the market is implying 31.5% more growth than the reported figures support.
Valuation
| Forward P/E | 31.0× | Price / latest annual reported diluted EPS · Dec 31, 2025 |
|---|---|---|
| Model upside | −74.2% | ImpliedLens normalized earnings-value model · Oct 29, 2026 |
| Conservative case | −79.3% | ImpliedLens conservative earnings-value model · Oct 29, 2026 |
| Implied growth gap | +31.5% | ImpliedLens price-expectations model · Oct 29, 2026 |
Growth
| Revenue growth | +9.4% | SEC filing · Oct 29, 2026 |
|---|---|---|
| EPS growth | −53.1% | SEC filing · Oct 29, 2026 |
| Share count change | +5.1% | SEC filing · Oct 29, 2026 |
Profitability and returns
| Net margin | 17.6% | Derived from SEC filing · Oct 29, 2026 |
|---|---|---|
| Return on invested capital | 17.0% | Derived from SEC filing · Oct 29, 2026 |
| Return on equity | 9.0% | Derived from SEC filing · Oct 29, 2026 |
Balance sheet
| Net debt / EBITDA | -5.1× | Derived SEC operating-income proxy · Oct 29, 2026 |
|---|---|---|
| Equity / assets | 50.9% | Derived from SEC filing · Oct 29, 2026 |
Every figure above carries the source it came from and the date it was reported. Company filings as of Oct 29, 2026. Figures are reported and derived data, not advice, and the valuation model is one set of assumptions you can change.