NASDAQ : COIN
Coinbase Global, Inc. — Financial statements
Financials · Financial Data & Stock Exchanges · United States
Last price 160.59 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 42.37B
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Financial statements
Coinbase Global, Inc. (COIN) reported revenue of 5.44B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 5.44B | 6.88B | 6.29B | 2.93B | 3.15B | 7.35B |
| Other Revenue | 482.55M | |||||
| Revenue | 5.44B | 6.88B | 6.29B | 2.93B | 3.15B | 7.84B |
| Cost of Revenue | 798.74M | 1.02B | 897.71M | 420.70M | 629.88M | 1.27B |
| Gross Profit | 4.64B | 5.86B | 5.40B | 2.51B | 2.52B | 6.57B |
| Selling, General & Admin | 2.57B | 2.68B | 1.95B | 1.41B | 2.11B | 1.53B |
| Research & Development | 1.94B | 1.67B | 1.47B | 1.32B | 2.33B | 1.29B |
| Other Operating Expenses | 123.70M | 31.65M | -63.79M | -24.41M | 796.80M | 477.15M |
| Operating Expenses | 4.64B | 4.38B | 3.36B | 2.71B | 5.23B | 3.29B |
| Operating Income | 6.76M | 1.48B | 2.04B | -200.91M | -2.71B | 3.28B |
| Interest Expense | -87.20M | -85.41M | -80.64M | -82.77M | -88.90M | -29.16M |
| Interest & Investment Income | 188.40M | 297.89M | 270.78M | 181.84M | 45.39M | 2.14M |
| Currency Exchange Gain (Loss) | -161.75M | -40.99M | ||||
| Other Non Operating Income (Expenses) | -669.00M | -508.48M | 727.68M | 25.82M | -2.50M | -181.17M |
| EBT Excluding Unusual Items | -561.04M | 1.19B | 2.95B | -76.02M | -2.92B | 3.03B |
| Merger & Restructuring Charges | -47.79M | -142.59M | -40.70M | -8.00M | ||
| Gain (Loss) on Sale of Investments | -366.83M | 680.52M | -11.55M | 24.37M | -101.22M | 48.54M |
| Asset Writedown | -500.00K | |||||
| Other Unusual Items | 53.14M | -345.18M | 117.40M | -39.20M | ||
| Pretax Income | -922.52M | 1.52B | 2.94B | -76.84M | -3.06B | 3.03B |
| Income Tax Expense | -220.90M | 261.74M | 363.58M | -171.72M | -439.63M | -597.17M |
| Net Income | -701.62M | 1.26B | 2.58B | 94.87M | -2.62B | 3.62B |
| Preferred Dividends & Other Adjustments | 1.31M | 119.00K | 527.16M | |||
| Net Income to Common | -701.62M | 1.26B | 2.58B | 94.75M | -2.62B | 3.10B |
| Shares Outstanding (Basic) | 265.06M | 260.09M | 247.37M | 235.80M | 222.31M | 177.32M |
| Shares Outstanding (Diluted) | 265.06M | 287.21M | 273.38M | 254.39M | 222.34M | 219.97M |
| EPS (Basic) | -2.65 | 4.85 | 10.42 | 0.40 | -11.81 | 17.47 |
| EPS (Diluted) | -2.65 | 4.45 | 9.48 | 0.37 | -11.83 | 14.50 |
| Free Cash Flow | 1.41B | 2.43B | 3.10B | 673.38M | -1.59B | 4.04B |
| Free Cash Flow Per Share | 5.32 | 8.45 | 11.35 | 2.65 | -7.13 | 18.36 |
| Gross Margin | 85.32% | 85.18% | 85.73% | 85.62% | 80.00% | 83.82% |
| Operating Margin | 0.12% | 21.54% | 32.36% | -6.87% | -86.22% | 41.79% |
| Profit Margin | -12.89% | 18.31% | 40.96% | 3.24% | -83.36% | 39.52% |
| Free Cash Flow Margin | 25.90% | 35.25% | 49.32% | 23.01% | -50.35% | 51.52% |
| EBITDA | 271.50M | 1.67B | 2.16B | -61.27M | -2.56B | 3.34B |
| EBITDA Margin | 4.99% | 24.28% | 34.38% | -2.09% | -81.33% | 42.60% |
| D&A For EBITDA | 264.74M | 188.43M | 127.52M | 139.64M | 154.07M | 63.65M |
| EBIT | 6.76M | 1.48B | 2.04B | -200.91M | -2.71B | 3.28B |
| EBIT Margin | 0.12% | 21.54% | 32.36% | -6.87% | -86.22% | 41.79% |
| Effective Tax Rate | 17.20% | 12.35% | ||||
| Revenue as Reported | 5.63B | 7.18B | 6.56B | 3.11B | 3.19B | 7.84B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 8.60B | 11.29B | 9.31B | 5.14B | 4.43B | 7.12B |
| Short-Term Investments | 217.09M | 309.76M | 9.66M | |||
| Cash & Short-Term Investments | 8.82B | 11.60B | 9.31B | 5.14B | 4.43B | 7.13B |
| Accounts Receivable | 161.62M | 173.92M | 97.33M | 58.93M | 191.51M | 1.04M |
| Other Receivables | 197.08M | 196.93M | 173.45M | 173.09M | 89.28M | 146.44M |
| Receivables | 2.33B | 1.73B | 914.95M | 425.44M | 464.82M | 365.94M |
| Prepaid Expenses | 107.30M | 94.89M | 88.50M | 79.55M | 98.20M | 123.25M |
| Restricted Cash | 89.16M | 334.32M | 347.17M | 22.99M | 25.87M | 30.95M |
| Other Current Assets | 6.29B | 6.64B | 7.45B | 5.69B | 81.43B | 10.72B |
| Total Current Assets | 17.64B | 20.39B | 18.11B | 11.36B | 86.45B | 18.37B |
| Property, Plant & Equipment | 154.05M | 406.20M | 281.23M | 205.29M | 241.21M | 157.62M |
| Long-Term Investments | 872.28M | 622.99M | 374.16M | 343.05M | 326.68M | 363.95M |
| Goodwill | 4.13B | 4.17B | 1.14B | 1.14B | 1.07B | 625.76M |
| Other Intangible Assets | 1.56B | 1.40B | 46.80M | 86.42M | 135.43M | 176.69M |
| Long-Term Deferred Tax Assets | 584.20M | 570.82M | 941.30M | 1.27B | 1.05B | 573.55M |
| Other Long-Term Assets | 2.45B | 2.12B | 1.65B | 350.45M | 452.64M | 1.00B |
| Total Assets | 27.39B | 29.67B | 22.54B | 14.75B | 89.72B | 21.27B |
| Accounts Payable | 104.90M | 117.61M | 63.32M | 39.29M | 56.04M | 39.83M |
| Accrued Expenses | 457.38M | 425.24M | 331.52M | 313.49M | 165.79M | 342.12M |
| Short-Term Debt | 748.78M | 452.11M | 374.27M | 62.98M | 172.02M | 446.73M |
| Current Portion of Long-Term Debt | 1.27B | |||||
| Current Portion of Leases | 26.53M | 33.73M | 32.37M | |||
| Current Income Taxes Payable | 31.34M | 65.98M | 90.91M | 17.37M | 5.53M | 4.55M |
| Other Current Liabilities | 5.93B | 6.34B | 7.08B | 5.05B | 80.38B | 10.55B |
| Total Current Liabilities | 7.28B | 8.70B | 7.94B | 5.49B | 80.82B | 11.42B |
| Long-Term Debt | 5.95B | 5.94B | 4.23B | 2.98B | 3.39B | 3.38B |
| Long-Term Leases | 189.06M | 172.74M | 85.79M | 3.82M | 42.04M | 74.08M |
| Other Long-Term Liabilities | 31.65M | 67.72M | 3.92M | 3.40M | 19.53M | 14.83M |
| Total Liabilities | 13.45B | 14.88B | 12.27B | 8.47B | 84.27B | 14.89B |
| Common Stock | 3.00K | 3.00K | 2.00K | 2.00K | 2.00K | 2.00K |
| Additional Paid-In Capital | 7.87B | 8.57B | 5.37B | 4.49B | 3.77B | 2.03B |
| Retained Earnings | 6.19B | 6.22B | 4.96B | 1.82B | 1.73B | 4.35B |
| Comprehensive Income & Other | -113.83M | 4.97M | -50.05M | -30.27M | -38.61M | -3.40M |
| Total Common Equity | 13.94B | 14.79B | 10.28B | 6.28B | 5.45B | 6.38B |
| Shareholders' Equity | 13.94B | 14.79B | 10.28B | 6.28B | 5.45B | 6.38B |
| Total Liabilities & Equity | 27.39B | 29.67B | 22.54B | 14.75B | 89.72B | 21.27B |
| Total Debt | 6.89B | 7.86B | 4.69B | 3.05B | 3.64B | 3.94B |
| Net Cash (Debt) | 1.94B | 3.74B | 4.61B | 2.09B | 783.77M | 3.20B |
| Net Cash Per Share | 7.30 | 13.01 | 16.88 | 8.23 | 3.53 | 14.53 |
| Filing Date Shares Outstanding | 264.76M | 264.08M | 253.88M | 242.28M | 231.47M | 219.48M |
| Total Common Shares Outstanding | 264.76M | 267.84M | 253.64M | 242.05M | 230.87M | 217.12M |
| Working Capital | 10.37B | 11.69B | 10.17B | 5.87B | 5.63B | 6.95B |
| Book Value Per Share | 52.65 | 55.23 | 40.52 | 25.95 | 23.63 | 29.39 |
| Tangible Book Value | 8.25B | 9.23B | 9.09B | 5.06B | 4.25B | 5.58B |
| Tangible Book Value Per Share | 31.18 | 34.45 | 35.84 | 20.89 | 18.39 | 25.70 |
| Machinery | 13.07M | 10.85M | ||||
| Construction In Progress | 535.00K | |||||
| Leasehold Improvements | 45.26M | 43.05M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -701.62M | 1.26B | 2.58B | 94.87M | -2.62B | 3.62B |
| Depreciation & Amortization | 264.74M | 188.43M | 127.52M | 139.64M | 154.07M | 63.65M |
| Asset Writedown & Restructuring Costs | 500.00K | |||||
| Loss (Gain) From Sale of Investments | 366.83M | -680.52M | 11.55M | -24.37M | 101.44M | -20.14M |
| Stock-Based Compensation | 949.92M | 839.44M | 912.84M | 780.67M | 1.57B | 820.68M |
| Other Operating Activities | 785.84M | 850.12M | -596.13M | -366.09M | 249.64M | -592.08M |
| Change in Accounts Receivable | -1.98M | -1.98M | -100.57M | 84.02M | -141.02M | 28.51M |
| Change in Accounts Payable | 27.33M | |||||
| Change in Income Taxes | -71.06M | -147.45M | 77.10M | 8.55M | 1.91M | -62.15M |
| Change in Other Net Operating Assets | -183.46M | 118.03M | 92.56M | -43.92M | -892.33M | 147.74M |
| Operating Cash Flow | 1.41B | 2.43B | 3.10B | 673.38M | -1.59B | 4.04B |
| Cash Acquisitions | -98.35M | -742.04M | -30.73M | -186.15M | -70.91M | |
| Sale (Purchase) of Intangibles | -82.87M | |||||
| Investment in Securities | 4.67M | 112.87M | -54.91M | -15.29M | -326.51M | |
| Other Investing Activities | -378.63M | -631.69M | 28.62M | 115.73M | -597.86M | -432.77M |
| Investing Cash Flow | -1.56B | -2.05B | -201.00M | -206.18M | -663.82M | -1.12B |
| Short-Term Debt Issued | 626.43M | 122.57M | 31.64M | 190.96M | 20.00M | |
| Long-Term Debt Issued | 2.96B | 1.25B | 3.38B | |||
| Total Debt Issued | 1.06B | 3.58B | 1.37B | 31.64M | 190.96M | 3.40B |
| Short-Term Debt Repaid | -580.66M | -48.41M | -52.12M | -191.07M | ||
| Long-Term Debt Repaid | -303.53M | |||||
| Total Debt Repaid | -2.13B | -580.66M | -48.41M | -355.65M | -191.07M | |
| Net Debt Issued (Repaid) | -1.07B | 3.00B | 1.32B | -324.01M | -117.00K | 3.40B |
| Issuance of Common Stock | 18.77M | 78.29M | 126.14M | 47.94M | 51.50M | 236.95M |
| Repurchase of Common Stock | -2.44B | -1.19B | -117.22M | -277.80M | -351.87M | -262.79M |
| Other Financing Activities | -1.15B | -1.15B | 1.57B | -284.34M | -5.54B | 6.60B |
| Financing Cash Flow | -4.64B | 740.28M | 2.90B | -838.21M | -5.84B | 9.98B |
| Foreign Exchange Rate Adjustments | -59.97M | 92.85M | -48.37M | 8.77M | -163.26M | -64.88M |
| Net Cash Flow | -4.85B | 1.21B | 5.76B | -362.23M | -8.25B | 12.82B |
| Free Cash Flow | 1.41B | 2.43B | 3.10B | 673.38M | -1.59B | 4.04B |
| Free Cash Flow Margin | 25.90% | 35.25% | 49.32% | 23.01% | -50.35% | 51.52% |
| Free Cash Flow Per Share | 5.32 | 8.45 | 11.35 | 2.65 | -7.13 | 18.36 |
| Levered Free Cash Flow | 3.68B | 1.30B | 1.82B | 1.45B | -1.15B | 2.65B |
| Unlevered Free Cash Flow | 3.74B | 1.35B | 1.87B | 1.50B | -1.09B | 2.67B |
| Cash Interest Paid | 82.40M | 3.79M | ||||
| Cash Income Tax Paid | 92.80M | 164.87M | 140.34M | 39.12M | 35.89M | 68.61M |
| Change in Working Capital | -256.50M | -31.41M | 69.09M | 48.65M | -1.03B | 141.44M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 36.49B | 60.98B | 62.16B | 41.61B | 8.03B | 54.31B |
| Enterprise Value | 34.56B | 58.99B | 58.93B | 39.71B | 6.71B | 51.89B |
| Last Close Price | 143.54 | 226.14 | 248.30 | 173.92 | 35.39 | 252.37 |
| PE Ratio | 48.38 | 24.11 | 439.14 | 17.54 | ||
| Forward PE | 94.90 | 36.76 | 44.83 | 20.42 | 20.42 | 33.11 |
| PS Ratio | 6.63 | 8.86 | 9.88 | 14.22 | 2.55 | 6.93 |
| PB Ratio | 2.73 | 4.12 | 6.05 | 6.62 | 1.47 | 8.51 |
| P/TBV Ratio | 4.37 | 6.61 | 6.84 | 8.23 | 1.89 | 9.73 |
| P/FCF Ratio | 25.62 | 25.13 | 20.03 | 61.79 | 13.45 | |
| P/OCF Ratio | 25.62 | 25.13 | 20.03 | 61.79 | 13.45 | |
| PEG Ratio | 7.76 | 16.82 | 0.39 | 0.39 | 0.39 | 0.43 |
| EV/Sales Ratio | 6.28 | 8.57 | 9.37 | 13.57 | 2.13 | 6.62 |
| EV/EBITDA Ratio | 125.84 | 35.30 | 27.23 | 15.54 | ||
| EV/EBIT Ratio | 5,051.80 | 39.79 | 28.94 | 15.84 | ||
| EV/FCF Ratio | 24.24 | 24.31 | 18.99 | 58.98 | 12.85 | |
| Debt / Equity Ratio | 0.49 | 0.53 | 0.46 | 0.48 | 0.67 | 0.62 |
| Debt / EBITDA Ratio | 25.36 | 4.70 | 2.14 | 1.17 | ||
| Debt / FCF Ratio | 4.89 | 3.24 | 1.51 | 4.53 | 0.97 | |
| Net Debt / Equity Ratio | -0.14 | -0.25 | -0.45 | -0.33 | -0.14 | -0.50 |
| Net Debt / EBITDA Ratio | -7.13 | -2.24 | -2.13 | 34.15 | 0.31 | -0.96 |
| Net Debt / FCF Ratio | -1.37 | -1.54 | -1.49 | -3.11 | 0.49 | -0.79 |
| Asset Turnover | 0.18 | 0.26 | 0.34 | 0.06 | 0.06 | 0.58 |
| Quick Ratio | 1.26 | 1.38 | 1.21 | 0.98 | 0.06 | 0.64 |
| Current Ratio | 2.42 | 2.34 | 2.28 | 2.07 | 1.07 | 1.61 |
| Return on Equity (ROE) | -4.68% | 10.05% | 31.15% | 1.62% | -44.35% | 91.66% |
| Return on Assets (ROA) | 0.01% | 3.55% | 6.83% | -0.24% | -3.06% | 15.09% |
| Return on Invested Capital (ROIC) | 0.06% | 14.69% | 36.23% | -4.54% | -69.11% | 162.55% |
| Return on Capital Employed (ROCE) | 0.00% | 7.10% | 13.90% | -2.20% | -30.50% | 33.20% |
| Earnings Yield | -1.92% | 2.07% | 4.15% | 0.23% | -32.68% | 6.67% |
| FCF Yield | 3.90% | 3.98% | 4.99% | 1.62% | -19.74% | 7.43% |
| Buyback Yield / Dilution | 5.86% | -5.06% | -7.46% | -14.42% | -1.08% | -141.17% |