Coinbase Global Inc - Ordinary Shares - Class A

Coinbase Global Inc - Ordinary Shares - Class A

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Market Cap$40.15B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Coinbase Global Inc - Ordinary Shares - Class ACoinbase Global Inc - Ordinary Shares - Class A50.4-6%7.30.5

Earnings Call Q1 2026

May 7, 2026 - AI Summary

Q1 results: revenue down with solid profitability and cost discipline - Total revenue $1.4B (-21% QoQ), reflecting a softer crypto market (total market cap and trading volume down >20% QoQ). - Net loss: -$394M. - Adjusted EBITDA: +$303M (13th consecutive quarter of positive adjusted EBITDA). - Operating expenses: $1.4B (down 5% QoQ); G&A -17% QoQ (ahead of expense reductions; lower deal/legal, support, and policy costs). - Cash strength: >$10B cash; total available resources $12B.
Business momentum / “good news” fundamentals: share, custody, USDC, and new products - Despite market headwinds, Coinbase reported new all-time high market share in crypto trading volume (share growing globally even as volumes fell). - 12th consecutive quarter of net native unit inflows (12 straight quarters—core trust/custody engine). - USDC held in Coinbase products hit a new all-time high: $19B, and USDC economics remain a major pillar (Coinbase captures about ~50% of USDC economics; and said >25% of all USDC is held in Coinbase products). - Everything Exchange traction: derivatives annualized revenue >$200M, prediction markets annualized revenue ~$100M by March (about 2 months after launch), and non-crypto contracts (e.g., silver/gold/oil) up >4x QoQ.
Forecast / outlook (next quarter) and annual cost plan - Q2 subscription & services revenue outlook: $565M–$645M (explicitly calls an opportunity for QoQ growth). - Q2 T&D + G&A outlook: $820M–$870M (expected sequential decline -4% to -9% vs Q1). - Restructuring costs: $50M–$60M in Q2 (headcount reduction; stand-alone line item). - Full-year 2026 adjusted expense outlook: $4.3B–$4.6B (about $500M lower than Q4’25 annualized exit rate at the midpoint). - Management also framed a “steady-state” view: absent growth in USDC rewards, 2026 expenses would be flat vs 2025.

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$207.41

Target Price by Analysts

36.1% upsideCoinbase Global Target Price DetailsTarget Price
$61.25

Current Fair Value

59.8% downside

Overvalued by 59.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$40.15 Billion
Enterprise Value$36.86 Billion
Dividend Yield$- (-)
Earnings per Share$4.85
Beta3.32
Outstanding Shares264,775,000

Return

Return on Equity5.94%ROE
Return on Assets2.78%
Return on Invested Capital-1.81%

Valuation & Multiples

P/E Ratio50.4P/E Ratio
PEG-7.19PEG
Price to Sales7.26Price to Sales
Price to Book Ratio3.05Price to Book Ratio
Enterprise Value to Revenue6.34
Enterprise Value to EBIT-103.34
Enterprise Value to Net Income46
Total Debt to Enterprise0.2
Debt to Equity0.53Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 14, 2026
EPS Estimate
$0.29
Average shareholder expectation
Revenue Estimate
$1.56 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 30, 2026
EPS Estimate
$0.09
Average shareholder expectation
Revenue Estimate
$1.35 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.8991▲ 3.22%
Total Calls37,121,231▼ 9.99%
Total Puts33,374,849▼ 6.65%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %53.16%▼ 2.96%
Total Invested$24.90B▼ 25.38%
Investors Holding1,300▼ 114.00%

ESG Score

No data

About Coinbase Global Inc

1,249 employees

Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and secure...

Relevant Senate Committees

Joint Committee on Taxation

Provides critical technical expertise and revenue estimates for all tax legislation, directly influencing corporate tax structures and capital gains rules that significantly impact Coinbase and its customers.

Finance

Controls taxation and trade policy, directly impacting corporate tax structures, capital gains treatment of digital assets, and the overall financial environment in which Coinbase operates.

Agriculture, Nutrition, and Forestry

Directly oversees the CFTC, which plays a critical role in regulating digital commodities and futures markets, directly impacting the classification and regulatory framework for cryptocurrencies traded on Coinbase.

Judiciary

Oversight of antitrust laws and the Department of Justice (DOJ), which can impact M&A activity, monopolistic practices, and enforcement actions within the broader technology and financial sectors relevant to Coinbase.

Banking, Housing, and Urban Affairs

Directly regulates the entire financial system, including the Fed and SEC, and is explicitly named as the primary mover for cryptocurrency regulation, making it critically important for Coinbase's operating environment.

Commerce, Science, and Transportation

Broad jurisdiction over interstate commerce, consumer protection (FTC), and technology regulation, which directly impacts data privacy, security, and potential regulatory frameworks for online platforms like Coinbase.

Foreign Relations

The committee's role in sanctions legislation directly impacts crypto exchanges' compliance obligations, AML/KYC requirements, and ability to operate globally, making non-public information highly material.