Coinbase Global
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
62.5063.16266.65-193.70
Price/Sales ratio
13.3114.1619.1231.60
Earnings per Share (EPS)
$4.80$4.75$1.12$-1.55

Historical Multiples (2019 – 2023)

2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-2.15K202.8815.11-2.99432.26-5.986.06
Price/Sales ratio
122.5251.186.982.4613.194.925.95
Price/Book Value ratio
131.5542.858.581.446.522.885.73
Price/Cash Flow ratio
-811.3921.765.10-4.9644.43-9.910.07
Price/Free Cash Flow ratio
-540.1521.905.14-4.7747.69-9.520.18
Price/Earnings Growth ratio
N/A-0.170.010.01-4.18-0.040.01
Dividend Yield
N/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
84.62%89.39%83.82%80.28%86.46%80.28%82.05%
Operating Profit Margin
-6.67%32.01%39.24%-83.57%-5.20%-83.57%-22.16%
Pretax Profit Margin
-8.50%32.03%38.61%-95.94%-2.47%-95.94%-28.66%
Net Profit Margin
-5.69%25.23%46.22%-82.17%3.05%-82.17%-17.97%
Effective Tax Rate
33.09%21.23%-19.72%14.34%223.45%14.34%-2.69%
Return on Assets
-1.27%5.50%17.03%-2.92%0.04%-2.92%7.05%
Return On Equity
-6.11%21.12%56.78%-48.12%1.51%-44.88%5.94%
Return on Capital Employed
-3.05%25.42%31.21%-29.96%-1.74%-29.96%0.62%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/A1.06N/A
Quick Ratio
0.590.300.670.071.050.070.37
Cash ratio
0.440.250.620.050.020.050.33
Days of Sales Outstanding
62.6854.130.0453.1149.9553.1126.58
Days of Inventory outstanding
5.59K10.31K3.07K46.75K-4.08KN/A24.91K
Operating Cycle
5.65K10.37K3.07K46.80K-4.03K13.0924.94K
Days of Payables Outstanding
26.4232.4011.4632.4734.0932.4721.93
Cash Conversion Cycle
5.62K10.33K3.06K46.77K-4.07K20.6324.91K
Debt Ratios
Debt Ratio
N/A0.040.160.030.010.930.10
Debt Equity Ratio
N/A0.170.530.620.4815.440.35
Long-term Debt to Capitalization
N/AN/A0.340.380.320.380.36
Total Debt to Capitalization
N/A0.150.340.380.320.390.24
Interest Coverage Ratio
N/AN/AN/AN/AN/A-30.02N/A
Cash Flow to Debt Ratio
N/A11.073.15-0.460.30-0.451.34
Company Equity Multiplier
4.813.833.3316.4432.9516.443.58
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.152.351.36-0.490.29-0.490.43
Free Cash Flow / Operating Cash Flow Ratio
1.500.990.991.040.931.040.99
Cash Flow Coverage Ratio
N/A11.073.15-0.460.30-0.451.34
Short Term Coverage Ratio
N/A11.07534.89-77.2612.49-29.22252.83
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/A