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Coinbase Global, Inc. Class A(COIN US)

$127.65-3.022.31%Ext:$126.34-1.311.02%(After Hours · 21:39:26 UTC)
Doc SearchProfileEntity StructureFinancialsChartingShort InterestEmployees

Overview

ProfileEntity Structure

Documents

SEC Filings

Financials & Metrics

FinancialsChartingShort InterestEmployees
Logo
  • Home
  • AI Agent
  • Annotations
  • Files
  • Pricing and plans
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    Terms of servicePrivacy policy
  • Get the full experience

    We save the real magic for signed-in users.

HomeStock ScreenerDocument SearchChartingWatchlistsRecent Filings

Coinbase Global, Inc. Class A(COIN US)

$127.65-3.022.31%Ext:$126.34-1.311.02%(After Hours · 21:39:26 UTC)
Doc SearchProfileEntity StructureFinancialsChartingShort InterestEmployees

Overview

ProfileEntity Structure

Documents

SEC Filings

Financials & Metrics

FinancialsChartingShort InterestEmployees
COIN US​
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COIN US​
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Coinbase Global, Inc. Class A — Company Profile

Coinbase Global, Inc. delivers fundamental financial infrastructure and technological solutions to the expanding cryptoeconomy, operating across both the United States and international markets. The company provides a core financial gateway for individual consumers navigating the digital asset space. For institutional clients, it manages a dynamic trading venue that ensures abundant liquidity for cryptocurrency transactions. Moreover, Coinbase supplies developers with crucial technology and services, enabling them to build innovative crypto-based applications and seamlessly integrate secure digital asset payments. Founded in 2012, the firm is headquartered in Wilmington, Delaware.

Sector
Financial Services
Industry
Financial - Data & Stock Exchanges
Exchange
UQ
CEO
Brian Armstrong
Headquarters
New York City, NY, US
IPO Date
Apr 14, 2021
Employees
4,951
Website
www.coinbase.com

Key Metrics

Price
$188.53
Market Cap
$49.74B
Revenue (TTM)
$1.41B
Net Income (TTM)
$-394117000.00
EPS (TTM)
-1.49
P/E (TTM)
62.13
P/B (TTM)
3.69
Dividend Yield
0.00%
ROE (TTM)
-2.92%
ROA (TTM)
-1.37%
Operating Margin
0.97%
Beta
2.96

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

Coinbase Global, Inc. delivers fundamental financial infrastructure and technological solutions to the expanding cryptoeconomy, operating across both the United States and international markets. The company provides a core financial gateway for individual consumers navigating the digital asset space. For institutional clients, it manages a dynamic trading venue that ensures abundant liquidity for cryptocurrency transactions. Moreover, Coinbase supplies developers with crucial technology and services, enabling them to build innovative crypto-based applications and seamlessly integrate secure digital asset payments. Founded in 2012, the firm is headquartered in Wilmington, Delaware.

Website
www.coinbase.com
Location
New York City, NY, US
Phone888 908 7930
Employees4,951
CEOBrian Armstrong
SectorFinancial Services
IndustryFinancial - Data & Stock Exchanges
IPO DateApr 14, 2021

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(1.2K)

Expand
  • 10-QQ3ended 30 Sept 202629 Oct
  • 8-KResults of Operations and Financial Condition29 Oct
  • Form 4Andreessen Marc L5 Oct
  • Form 144Andreessen Marc L2 Oct
  • 8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers2 Oct
  • Form 144Andreessen Marc L1 Oct
  • Form 4HAAS ALESIA J23 Sep
  • Form 4Andreessen Marc L23 Sep
  • Form 144Andreessen Marc L21 Sep
  • Form 144HAAS ALESIA J21 Sep
  • Form 144/AAndreessen Marc L14 Sep
  • Form 4Andreessen Marc L10 Sep
  • Form 144Andreessen Marc L8 Sep
  • Form 4WILSON FREDERICK R3 Sep
  • Form 4Armstrong Anthony2 Sep
  • Form 3Armstrong Anthony2 Sep
  • 8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers2 Sep
  • Form 144WILSON FREDERICK R1 Sep
  • Form 144Grewal Paul27 Aug
  • Form 4Jones Jennifer N.26 Aug

News

  • Bitcoin Transactions Are Public and Monero’s Are Hidden. Will Monero (XMR) Be Banned?12 Nov
  • Prediction: The Next Phase of Coinbase Could Be Its Most Important Yet12 Nov
  • Coinbase Is Betting on 3 New Businesses. Can They Offset Falling Trading Fees?11 Nov
  • Coinbase Is Still Down 23% in the Past Month: Did Today Mark the Bottom for COIN Stock?11 Nov
  • PNC Financial's Arm Broadens Digital Push With Stablecoin Payments11 Nov
  • OKX and ICE will put more than 70 stocks on a blockchain on November 23.11 Nov
  • What Will Bitcoin and Ethereum Be Worth in 5 Years?11 Nov
  • FTX Collapsed 4 Years Ago. Is Your Crypto Any Safer on an Exchange Now?11 Nov
  • Charles Schwab Charges 0.75% to Trade Bitcoin. Is That Cheaper Than Coinbase or Robinhood?11 Nov
  • Coinbase Gets National Bank Charter Approval11 Nov
  • World Team Tennis Names Coinbase as Presenting Partner11 Nov
  • Coinbase Global vs. Toast: Which Financial Stock Is a Better Buy for 2027?11 Nov
  • Goldman, Citi and the $270 Million Fight Over Your Bank Deposit11 Nov
  • 7.1 Million Bitcoin Sit in Wallets a Quantum Computer Could One Day Crack. Is Yours One of Them?10 Nov
  • Coinbase Falls 4%, Robinhood Slides 3% as Hot Inflation Data Drags Bitcoin Lower; Webull Declines 2%10 Nov
  • XRP Options Point to a 10% Move This Week, the Widest of Any Major Coin. Could XRP Fall Below $1?10 Nov
  • Coinbase got the charter Jamie Dimon did not want it to have.9 Nov
  • PNC Bank Launches Incoming Stablecoin Payments for Corporate and Institutional Banking Clients9 Nov
  • XRP and Solana Both Hit 30-Day Lows This Week. Is It Better to Buy XRP or SOL Right Now?8 Nov
  • Russia Is Opening Bitcoin and Ethereum to Retail Investors This Month. Can a 300,000-Ruble Cap Move the BTC and ETH Price?8 Nov

Mentions in Filings

  • … at fair value. The Company determines the fair value of cryptocurrency assets in accordance with ASC 820. The fair value of bitcoin is measured using the period-end closing bitcoin price from its principal market, <strong>Coinbase Global, Inc.</strong> (“Coinbase”). The Company utilizes the bitcoin spot price as of 23:59:59 UTC. For the three and nine months ended September 30, 2026 and 2025, the changes in fair value are recognized as Gain (loss) on fair value o …
    Ionic Digital Inc.Coinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·12 Nov
  • … he largest operators of digital asset trading platforms in Securities and Exchange Commission v. Binance Holdings Ltd., et al (the “Binance Complaint”) and Securities and Exchange Commission v. Coinbase, Inc., and <strong>Coinbase Global, Inc.</strong> (the “Coinbase Complaint”), alleging that Binance and Coinbase had solicited U.S. investors to buy, sell, and trade “crypto asset securities” through their unregistered trading platforms and operated unregistered s …
    Evernorth Holdings Inc.Coinbase Global, Inc. Class A·424B3 - Prospectus filing (Rule 424(b)(3))·Q4 26·9 Nov
  • … opening an account that holds the Trust’s SOL and (3) facilitating the transfer of SOL required for the operation of the Trust, as directed by the Sponsor. The Solana Custodian is chartered as a limited purpose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Solana Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 11 ---
    Invesco Galaxy Solana ETFCoinbase Global, Inc. Class A·424B3 - Prospectus filing (Rule 424(b)(3))·Q4 26·9 Nov
  • … ose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Ethereum Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 10 --- The Cash Custodian BNYM serves as the Trust’s cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust’s cash in connection with cr …
    Invesco Galaxy Ethereum ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov
  • … rpose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Solana Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 11 --- The Cash Custodian BNYM serves as the Trust’s cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust’s cash in connection with cr …
    Invesco Galaxy Solana ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov
  • … pose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Bitcoin Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> The Cash Custodian BNYM serves as the Trust's cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust's cash in connection with creation an …
    Invesco Galaxy Bitcoin ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov

Key Stats

Trading

Px/Chg 1D$188.53 / +3.02%
Avg Volume10.58M
Beta2.96
Mkt Cap49.74B
FD Mkt Cap47.13B

Float

Shrs Out/Float263.83M / 219.66M
Short Float0.11%
Days to Cover2.97
Stock Repurchased$1.06B

Current Valuation

EV47.50B
EV/EBITDA37.53
EV/Sales8.17
P/B3.69
P/S8.56
FCF Yield0.37%
ROE-2.92%
ROA-1.37%
Current Ratio2.14

Estimates

P/E62.13
Est P/E0.00
Est EPS0.06
Est PEG0.00

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings66.21-4.11522.1718.85-79.65-126.21
Price / Sales22.673.3715.947.4151.4535.20
Price / Book Value4.371.987.894.733.593.69
Price / Free Cash Flow71.08-6.8053.6719.0217.33272.18
ENTERPRISE VALUE METRICS
Enterprise Value39,819.99,844.747,393.744,709.549,652.147,499.5
Enterprise Value / Sales21.373.0815.256.8148.1033.62
Enterprise Value / EBITDA29.34-3.49325.5914.19-62.64-126.96
Enterprise Value / EBIT1,570.18-3.318,004.3414.79-57.49-107.43

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue-2.2%7,839.43,194.23,108.46,564.07,181.3
Gross Income-3.2%6,100.92,564.31,972.84,906.55,360.1
EBITDA-12.9%3,119.8-2,821.6145.63,150.81,795.9
EBIT-14.8%3,056.1-2,975.75.93,023.31,607.5
Net Income-23.2%3,624.1-2,624.994.92,579.11,260.3
EPS (Diluted)-25.6%14.50-11.830.379.484.45
BALANCE SHEET
Cash & ST Inv13.3%7,223.65,286.25,525.49,548.111,914.1
Total Assets8.7%21,274.489,724.914,753.922,542.029,671.8
Total Liabilities-2.3%14,892.784,270.38,472.312,265.114,878.8
Total Shareholder Equity23.4%6,381.75,454.66,281.610,276.814,793.1
CASH FLOW
Net Operating Cash Flow-12%4,038.2-1,585.4923.02,556.82,426.4
Cap Ex—-82.9-2.9---
Free Cash Flow-11.5%3,955.3-1,585.4923.02,556.82,426.4

Enterprise Value Bridge

Millions USD12 Nov '26
Price (As of 12 Nov '26)130.62
Basic Shares263.83
Market Cap34,462.0
Diluted Shares287.98
Fully Diluted Shares Outstanding287.98
Fully Diluted Market Cap37,615.8
+Consolidated Debt6,885.7
−In-the-Money Convertible Debt—
+Capital Leases189.1
+Operating Leases—
−Cash & Equivalents-8,603.8
−Short-term Investments-217.1
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest-
+Pension Liabilities—
Enterprise Value32,743.9

Segment data

Revenue

by Products and services

  • Bank Servicing, Consumer, Net48%
  • Subscription And Circulation, Stablecoin19%
  • Subscription And Circulation, Blockchain Infrastructure Service10%
  • Subscription And Circulation, Other8%
  • Bank Servicing, Institutional7%

Revenue

by Geography

  • United States84%
  • Rest Of The World16%

Related companies

Lion Group Holding Ltd

LGHL US

American Express Company

AXP US

Nu Holdings Ltd.

NU US

Strategy Inc

MSTR US

Guotai Junan Securities Co., Ltd.

GUOSF US

CITIC Securities Company Limited

CIIHY US

Affirm Holdings, Inc.

AFRM US

Synchrony Financial

SYF US

GF Securities Co., Ltd.

000776 CS

CSC Financial Co., Ltd.

601066 CG

China Merchants Securities Co., Ltd.

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Tradeweb Markets Inc.

TW US

Coinbase Global, Inc. Class A — Company Profile

Coinbase Global, Inc. delivers fundamental financial infrastructure and technological solutions to the expanding cryptoeconomy, operating across both the United States and international markets. The company provides a core financial gateway for individual consumers navigating the digital asset space. For institutional clients, it manages a dynamic trading venue that ensures abundant liquidity for cryptocurrency transactions. Moreover, Coinbase supplies developers with crucial technology and services, enabling them to build innovative crypto-based applications and seamlessly integrate secure digital asset payments. Founded in 2012, the firm is headquartered in Wilmington, Delaware.

Sector
Financial Services
Industry
Financial - Data & Stock Exchanges
Exchange
UQ
CEO
Brian Armstrong
Headquarters
New York City, NY, US
IPO Date
Apr 14, 2021
Employees
4,951
Website
www.coinbase.com

Key Metrics

Price
$188.53
Market Cap
$49.74B
Revenue (TTM)
$1.41B
Net Income (TTM)
$-394117000.00
EPS (TTM)
-1.49
P/E (TTM)
62.13
P/B (TTM)
3.69
Dividend Yield
0.00%
ROE (TTM)
-2.92%
ROA (TTM)
-1.37%
Operating Margin
0.97%
Beta
2.96

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

Coinbase Global, Inc. delivers fundamental financial infrastructure and technological solutions to the expanding cryptoeconomy, operating across both the United States and international markets. The company provides a core financial gateway for individual consumers navigating the digital asset space. For institutional clients, it manages a dynamic trading venue that ensures abundant liquidity for cryptocurrency transactions. Moreover, Coinbase supplies developers with crucial technology and services, enabling them to build innovative crypto-based applications and seamlessly integrate secure digital asset payments. Founded in 2012, the firm is headquartered in Wilmington, Delaware.

Website
www.coinbase.com
Location
New York City, NY, US
Phone888 908 7930
Employees4,951
CEOBrian Armstrong
SectorFinancial Services
IndustryFinancial - Data & Stock Exchanges
IPO DateApr 14, 2021

Ask AI

Company overview
Business model, segments, and competition.
Peer comparison
Metrics vs closest competitors.
Guidance & outlook
Forward guidance and assumptions.
Bull vs bear case
Upside drivers and key risks.
Valuation snapshot
Multiples vs history and peers.
Competitive moat
Defensibility and market position.
Management track record
Leadership and capital allocation history.
How it makes money
A short diagram of the business model.

Latest Documents

SEC Filings(1.2K)

Expand
  • 10-QQ3ended 30 Sept 202629 Oct
  • 8-KResults of Operations and Financial Condition29 Oct
  • Form 4Andreessen Marc L5 Oct
  • Form 144Andreessen Marc L2 Oct
  • 8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers2 Oct
  • Form 144Andreessen Marc L1 Oct
  • Form 4HAAS ALESIA J23 Sep
  • Form 4Andreessen Marc L23 Sep
  • Form 144Andreessen Marc L21 Sep
  • Form 144HAAS ALESIA J21 Sep
  • Form 144/AAndreessen Marc L14 Sep
  • Form 4Andreessen Marc L10 Sep
  • Form 144Andreessen Marc L8 Sep
  • Form 4WILSON FREDERICK R3 Sep
  • Form 4Armstrong Anthony2 Sep
  • Form 3Armstrong Anthony2 Sep
  • 8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers2 Sep
  • Form 144WILSON FREDERICK R1 Sep
  • Form 144Grewal Paul27 Aug
  • Form 4Jones Jennifer N.26 Aug

News

  • Bitcoin Transactions Are Public and Monero’s Are Hidden. Will Monero (XMR) Be Banned?12 Nov
  • Prediction: The Next Phase of Coinbase Could Be Its Most Important Yet12 Nov
  • Coinbase Is Betting on 3 New Businesses. Can They Offset Falling Trading Fees?11 Nov
  • Coinbase Is Still Down 23% in the Past Month: Did Today Mark the Bottom for COIN Stock?11 Nov
  • PNC Financial's Arm Broadens Digital Push With Stablecoin Payments11 Nov
  • OKX and ICE will put more than 70 stocks on a blockchain on November 23.11 Nov
  • What Will Bitcoin and Ethereum Be Worth in 5 Years?11 Nov
  • FTX Collapsed 4 Years Ago. Is Your Crypto Any Safer on an Exchange Now?11 Nov
  • Charles Schwab Charges 0.75% to Trade Bitcoin. Is That Cheaper Than Coinbase or Robinhood?11 Nov
  • Coinbase Gets National Bank Charter Approval11 Nov
  • World Team Tennis Names Coinbase as Presenting Partner11 Nov
  • Coinbase Global vs. Toast: Which Financial Stock Is a Better Buy for 2027?11 Nov
  • Goldman, Citi and the $270 Million Fight Over Your Bank Deposit11 Nov
  • 7.1 Million Bitcoin Sit in Wallets a Quantum Computer Could One Day Crack. Is Yours One of Them?10 Nov
  • Coinbase Falls 4%, Robinhood Slides 3% as Hot Inflation Data Drags Bitcoin Lower; Webull Declines 2%10 Nov
  • XRP Options Point to a 10% Move This Week, the Widest of Any Major Coin. Could XRP Fall Below $1?10 Nov
  • Coinbase got the charter Jamie Dimon did not want it to have.9 Nov
  • PNC Bank Launches Incoming Stablecoin Payments for Corporate and Institutional Banking Clients9 Nov
  • XRP and Solana Both Hit 30-Day Lows This Week. Is It Better to Buy XRP or SOL Right Now?8 Nov
  • Russia Is Opening Bitcoin and Ethereum to Retail Investors This Month. Can a 300,000-Ruble Cap Move the BTC and ETH Price?8 Nov

Mentions in Filings

  • … at fair value. The Company determines the fair value of cryptocurrency assets in accordance with ASC 820. The fair value of bitcoin is measured using the period-end closing bitcoin price from its principal market, <strong>Coinbase Global, Inc.</strong> (“Coinbase”). The Company utilizes the bitcoin spot price as of 23:59:59 UTC. For the three and nine months ended September 30, 2026 and 2025, the changes in fair value are recognized as Gain (loss) on fair value o …
    Ionic Digital Inc.Coinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·12 Nov
  • … he largest operators of digital asset trading platforms in Securities and Exchange Commission v. Binance Holdings Ltd., et al (the “Binance Complaint”) and Securities and Exchange Commission v. Coinbase, Inc., and <strong>Coinbase Global, Inc.</strong> (the “Coinbase Complaint”), alleging that Binance and Coinbase had solicited U.S. investors to buy, sell, and trade “crypto asset securities” through their unregistered trading platforms and operated unregistered s …
    Evernorth Holdings Inc.Coinbase Global, Inc. Class A·424B3 - Prospectus filing (Rule 424(b)(3))·Q4 26·9 Nov
  • … opening an account that holds the Trust’s SOL and (3) facilitating the transfer of SOL required for the operation of the Trust, as directed by the Sponsor. The Solana Custodian is chartered as a limited purpose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Solana Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 11 ---
    Invesco Galaxy Solana ETFCoinbase Global, Inc. Class A·424B3 - Prospectus filing (Rule 424(b)(3))·Q4 26·9 Nov
  • … ose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Ethereum Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 10 --- The Cash Custodian BNYM serves as the Trust’s cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust’s cash in connection with cr …
    Invesco Galaxy Ethereum ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov
  • … rpose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Solana Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> 11 --- The Cash Custodian BNYM serves as the Trust’s cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust’s cash in connection with cr …
    Invesco Galaxy Solana ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov
  • … pose trust company by the New York State Department of Financial Services (“NYSDFS”) and is authorized by the NYSDFS to provide digital asset custody services. The Bitcoin Custodian is a wholly-owned subsidiary of <strong>Coinbase Global, Inc.</strong> The Cash Custodian BNYM serves as the Trust's cash custodian (the “Cash Custodian”). Under the Cash Custody Agreement, the Cash Custodian is responsible for holding the Trust's cash in connection with creation an …
    Invesco Galaxy Bitcoin ETFCoinbase Global, Inc. Class A·10-Q - Quarterly report Q3·Q3 26·5 Nov

Key Stats

Trading

Px/Chg 1D$188.53 / +3.02%
Avg Volume10.58M
Beta2.96
Mkt Cap49.74B
FD Mkt Cap47.13B

Float

Shrs Out/Float263.83M / 219.66M
Short Float0.11%
Days to Cover2.97
Stock Repurchased$1.06B

Current Valuation

EV47.50B
EV/EBITDA37.53
EV/Sales8.17
P/B3.69
P/S8.56
FCF Yield0.37%
ROE-2.92%
ROA-1.37%
Current Ratio2.14

Estimates

P/E62.13
Est P/E0.00
Est EPS0.06
Est PEG0.00

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings66.21-4.11522.1718.85-79.65-126.21
Price / Sales22.673.3715.947.4151.4535.20
Price / Book Value4.371.987.894.733.593.69
Price / Free Cash Flow71.08-6.8053.6719.0217.33272.18
ENTERPRISE VALUE METRICS
Enterprise Value39,819.99,844.747,393.744,709.549,652.147,499.5
Enterprise Value / Sales21.373.0815.256.8148.1033.62
Enterprise Value / EBITDA29.34-3.49325.5914.19-62.64-126.96
Enterprise Value / EBIT1,570.18-3.318,004.3414.79-57.49-107.43

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue-2.2%7,839.43,194.23,108.46,564.07,181.3
Gross Income-3.2%6,100.92,564.31,972.84,906.55,360.1
EBITDA-12.9%3,119.8-2,821.6145.63,150.81,795.9
EBIT-14.8%3,056.1-2,975.75.93,023.31,607.5
Net Income-23.2%3,624.1-2,624.994.92,579.11,260.3
EPS (Diluted)-25.6%14.50-11.830.379.484.45
BALANCE SHEET
Cash & ST Inv13.3%7,223.65,286.25,525.49,548.111,914.1
Total Assets8.7%21,274.489,724.914,753.922,542.029,671.8
Total Liabilities-2.3%14,892.784,270.38,472.312,265.114,878.8
Total Shareholder Equity23.4%6,381.75,454.66,281.610,276.814,793.1
CASH FLOW
Net Operating Cash Flow-12%4,038.2-1,585.4923.02,556.82,426.4
Cap Ex—-82.9-2.9---
Free Cash Flow-11.5%3,955.3-1,585.4923.02,556.82,426.4

Enterprise Value Bridge

Millions USD12 Nov '26
Price (As of 12 Nov '26)130.62
Basic Shares263.83
Market Cap34,462.0
Diluted Shares287.98
Fully Diluted Shares Outstanding287.98
Fully Diluted Market Cap37,615.8
+Consolidated Debt6,885.7
−In-the-Money Convertible Debt—
+Capital Leases189.1
+Operating Leases—
−Cash & Equivalents-8,603.8
−Short-term Investments-217.1
+Total Preferred-
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest-
+Pension Liabilities—
Enterprise Value32,743.9

Segment data

Revenue

by Products and services

  • Bank Servicing, Consumer, Net48%
  • Subscription And Circulation, Stablecoin19%
  • Subscription And Circulation, Blockchain Infrastructure Service10%
  • Subscription And Circulation, Other8%
  • Bank Servicing, Institutional7%

Revenue

by Geography

  • United States84%
  • Rest Of The World16%

Related companies

Lion Group Holding Ltd

LGHL US

American Express Company

AXP US

Nu Holdings Ltd.

NU US

Strategy Inc

MSTR US

Guotai Junan Securities Co., Ltd.

GUOSF US

CITIC Securities Company Limited

CIIHY US

Affirm Holdings, Inc.

AFRM US

Synchrony Financial

SYF US

GF Securities Co., Ltd.

000776 CS

CSC Financial Co., Ltd.

601066 CG

China Merchants Securities Co., Ltd.

600999 CG

Tradeweb Markets Inc.

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