Coinbase Global Inc - Ordinary Shares - Class A
COIN
Market Cap$44.44B
Close$
Earnings Call Q4 2024
February 13, 2025 - AI Summary
Strong Financial Performance: Coinbase Global, Inc. reported total revenue of $6.6 billion in 2024, more than doubling from the previous year, with adjusted EBITDA of $3.3 billion. This marks two consecutive years of positive adjusted EBITDA, highlighting the company's ongoing financial stability and ability to manage costs while scaling.
Growth in Subscription Services: Subscription services revenue reached $2.3 billion, a remarkable 64% year-over-year increase, driven primarily by USDC, staking, and the Coinbase One product. This growth indicates strong demand for recurring revenue streams outside of trading, suggesting diversification is paying off.
Regulatory Environment as Catalyst: The evolving regulatory landscape in the U.S. is seen positively, with the new administration and pro-crypto congress serving as a backdrop for potential future growth. Brian Armstrong indicated that clarity on token classification and stablecoin legislation could significantly expand Coinbase's addressable market.
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$194.73
11.3% upside
Current Fair Value
11.3% upsideUndervalued by 11.3% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $44.44 Billion |
|---|---|
| Enterprise Value | $36.33 Billion |
| Dividend Yield | $0 (0%) |
| Earnings per Share | $10.42 |
| Beta | 3.65 |
| Outstanding Shares | 251,506,000 |
Return
| Return on Equity | - |
|---|---|
| Return on Assets | - |
| Return on Invested Capital | - |
Valuation & Multiples
| P/E Ratio | 17.07 |
|---|---|
| PEG | -0.5 |
| Price to Sales | 8.75 |
| Price to Book Ratio | 4.38 |
| Enterprise Value to Revenue | 6.93 |
| Enterprise Value to EBIT | 36.47 |
| Enterprise Value to Net Income | 23 |
| Total Debt to Enterprise | 0.01 |
| Debt to Equity | 0.05 |
Revenue Sources
No data
Insider Trades
ESG Score
No data
About Coinbase Global Inc
1,249 employeesCoinbase 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...