Coinbase Global Inc (COIN) stock analysis
Coinbase Global Inc (COIN) clears 2 of this site's 8 mechanical value filters, 3 of 8 Buffett-style checks and 1 of 5 Lynch-style checks. A free-cash-flow DCF does not fit financial services companies, so no margin of safety is shown. Its earnings quality rates Weak and it returns −0.1% to shareholders net of dilution. Figures are as of October 23, 2026, from SEC filings and market data refreshed weekly; this is educational analysis, not investment advice.
Data as of October 23, 2026. Refreshed weekly from SEC filings and market data.
What does Coinbase Global do?
Coinbase runs a cryptocurrency exchange and related services, where customers buy, sell, store and move digital assets.
Brands and businesses it owns
- Coinbase
- Base
- Coinbase Prime
- USDC
What stands out about Coinbase Global?
- Misses 1 of the 8 value filters. It fails Price/Sales < 7 (7.10); the other 2 pass and 5 were not evaluated. See every filter.
- Earnings quality: Weak · 2 flags. Beneish M-score −2.30 · accruals −4.5% of assets · 158% of profit arrived as cash · stock comp 11.7% of revenue · share count +6.3% a year. From the latest 10-K (year to Dec 2025). See the Earnings Quality Screener.
- Short interest is elevated. 11.1% of the float is sold short, 2.5 days to cover, above this site's 5% flag. See the figures.
- Owners are being diluted. Its net shareholder yield is −0.1%: more stock is issued than is bought back or paid out. See Shareholder Yield Leaders.
How has Coinbase Global's share price moved?
The interactive price chart needs JavaScript.
Is Coinbase Global undervalued? The value diligence check
Every value-investing signal this site computes for this stock, gathered in one place: the same real numbers from the tools below, not a new score.
- Margin of safety (DCF) n/a (Financial Services)
- Wall St. analyst rating Buy · 3.83/5 46 analysts this month: 10 strong buy, 21 buy, 13 hold, 1 sell, 1 strong sell (Finnhub). Down from 3.84 last month.
- Altman Z″-Score (bankruptcy risk) n/a (Financial Services)
- Earnings quality (is the profit real?) Weak · 2 flags Beneish M-score −2.30 · accruals −4.5% of assets · 158% of profit arrived as cash · stock comp 11.7% of revenue · share count +6.3% a year. From the latest 10-K (year to Dec 2025) - see the Earnings Quality Screener for how each check is scored.
- Shareholder yield (cash back to owners) −0.1% net Latest fiscal year (2025): dividends 0.0% + buybacks 1.8% − stock comp 1.9%, as a share of today's market cap. Stock comp outruns what comes back in cash. See Shareholder Yield Leaders.
- Capital needed to grow (See's test) n/a (under 8 years of filings)
- PEG (growth at a reasonable price) n/a (no PEG reported)
- Compounder lenses (4) 0 of 4 · misses capital-light (n/a), real profit, cash back, price (n/a) Capital-light growth: cannot be measured (under 8 years of filings); Profit is real: not cleared (2 earnings-quality flags); Cash to owners: not cleared (−1.3% a year net); Fair price (PEG): cannot be measured (no PEG reported). See Compounders at a Fair Price, which also lets you move the PEG bar.
- Munger's Inversion Check 1 flag
What would Buffett & Lynch say?
Buffett's checklist is built around durable, profitable businesses bought at sensible prices, and COIN doesn't clear enough of it yet. In its favor: COIN has grown earnings per share at a solid clip over five years, is trading below what a conservative discounted-cash-flow estimate says it's worth - his own "price is what you pay, value is what you get" test, not a fixed multiple ceiling, and trades at a reasonable multiple of owner earnings, his own term for the real cash a business could pay out. Where it comes up short: COIN isn't clearing the return-on-equity bar he'd want to see right now, and its five-year average return on equity falls short too, so this isn't just a one-off dip, carries more debt relative to equity than he typically tolerates, runs thinner pretax margins than he'd like to see, and doesn't cover its interest expense as comfortably as he'd want.
- ROE (TTM) > 11% ✕
- ROE (5yr avg) > 11% ✕
- Debt/Equity < 0.5 ✕
- Pretax margin > 15% ✕
- EPS growth (5yr) > 7% ✓
- Interest coverage > 5x ✕
- Trading below intrinsic value (DCF) ✓
- Price vs. owner earnings < 25x ✓
- Bonus: returning capital via buybacks FY2025
Lynch looked for growth stories that weren't overpriced for that growth, and COIN falls short of his bar. In its favor: COIN is backing its growth up with real free cash flow. Where it comes up short: COIN fails his signature PEG test, he'd call this pricey for the growth on offer, is growing earnings outside the 10–25% range he considered the sustainable sweet spot, is leaning on more debt than he liked a growth story to carry, and is asking investors to pay a steep multiple for that growth.
- PEG < 1 n/a
- EPS growth 10%-25% ✕
- Debt/Equity < 0.5 ✕
- P/E < 27 n/a
- Price/FCF < 30 ✓
Quantitative approximations of each investor's documented approach, not endorsed by either investor or their estates - commentary, not this site's actual ranking criteria. Buffett never published a numeric checklist: only 2 of his 8 checks here trace to his own documented concepts ("owner earnings," from his 1986 shareholder letter, and "price is what you pay, value is what you get," his case against fixed P/E/P/B ceilings) - the other 6 (ROE, debt, margins, growth, interest coverage) use commonly-cited thresholds that are not numbers he himself published. The 8 hard filters below (plus the Munger check and Graham margin of safety) are this site's real, mechanical screen and are computed completely independently of the checklists above.
Berkshire Hathaway's own filing
Which of the 8 value filters does Coinbase Global pass?
- Market Cap > $25B $44.6B
- Trailing P/E < 25 n/a
- PEG Ratio < 1.5 n/a
- Price/Book < 8 3.41
- Price/Sales < 7 7.10
- EPS Growth YoY > -5% n/a
- vs 50-day MA (±12%) Not evaluated †
- vs 200-day MA (±12%) Not evaluated †
What is Coinbase Global's margin of safety?
A standard free-cash-flow DCF doesn't fit how financial services companies report cash flow.
Where is Coinbase Global in its 52-week range?
What is the short interest in Coinbase Global?
24,374,578 shares short as of 2026-09-30 (FINRA settlement date). Reported twice a month, so this only changes roughly every two weeks, not daily.
What could go wrong with Coinbase Global? Munger's inversion check
"Invert, always invert." Instead of reasons to buy, these are reasons to hesitate, not a verdict, and not everything worth knowing about a business.
- Margin of safety, even in the bull case n/a (Financial Services)
- Short interest under 5% of float 11.1%
- Passes most of the 6 fundamental filters 5/6 passed
Doesn't cover circle of competence, management quality, or accounting concerns: those need judgment, not data.
How much have Coinbase Global shareholders gained per year?
Not enough clean earnings history to compute this for COIN yet - a loss year in the window breaks the growth math rather than faking a number through it.
An earnings-based proxy, not a stock-price total return - it doesn't capture multiple expansion/contraction or reinvested dividends. EPS from COIN's own 10-K filings; dividend yield is the current trailing yield on today's price, from the same weekly fetch as the rest of this site.
What do Coinbase Global's 10-year financials show?
From COIN's own 10-K filings (SEC EDGAR): up to the last 7 fiscal years. Press any year's bars for the exact figures.
Frequently asked questions about Coinbase Global
What kind of company is Coinbase Global?
Coinbase runs a cryptocurrency exchange and related services, where customers buy, sell, store and move digital assets. Brands and businesses it owns include Coinbase, Base, Coinbase Prime and USDC. This site groups it with Financial Services stocks.
Why does Coinbase Global have no margin of safety on this site?
This site's DCF values a company from its free cash flow, and that does not fit financial companies, whose operating cash flow swings with client money, loans and trading rather than with what is left over for owners. So COIN gets no margin of safety; judge it on the other checks on this page, such as its filters, shareholder yield and ranking against its peers. The method is in the Intrinsic Value Calculator.
How many of this site's 8 value filters does Coinbase Global pass?
COIN passes 2 of 8. It passes Market Cap > $25B ($44.6B) and Price/Book < 8 (3.41). It misses Price/Sales < 7 (7.10). Trailing P/E < 25, PEG Ratio < 1.5, EPS Growth YoY > -5%, vs 50-day MA (±12%) and vs 200-day MA (±12%) were not evaluated, because the moving-average checks only run on stocks that clear the fundamentals first. The 8-filter list shows every stock that passes all of them.
Are Coinbase Global's reported earnings reliable?
This site's earnings-quality check rates COIN Weak · 2 flags. Beneish M-score −2.30 · accruals −4.5% of assets · 158% of profit arrived as cash · stock comp 11.7% of revenue · share count +6.3% a year. From the latest 10-K (year to Dec 2025). Concerns: stock-based compensation (flagged) and share dilution (flagged). The five checks are the Beneish M-score (manipulation risk), accruals, cash conversion, stock-based compensation and share dilution; the Earnings Quality Screener shows how each is graded.
When does Coinbase Global report earnings next?
Coinbase Global's next earnings report is expected on October 29, 2026 after the market closes, with analysts expecting earnings of $-0.10 per share. Dates come from the Finnhub earnings calendar and can move. In its last 4 quarters it beat the estimate 1 time, by an average of −403.7%.
How heavily is Coinbase Global stock sold short?
As of September 30, 2026, 11.1% of COIN's float was sold short (24,374,578 shares, 2.5 days to cover), down 3.4% from the prior reporting period. FINRA publishes short interest twice a month, so it changes about every two weeks; this site flags anything above 5% of the float.
Where do these numbers come from?
- Financial statements: Coinbase Global's 10-K annual report for the year ended Dec 31, 2025, filed Feb 12, 2026 (filing index). Every earlier year in the 10-year financials comes from the company's older 10-K filings, all listed on SEC EDGAR.
- Prices and market data: quotes, P/E and analyst ratings from Finnhub; daily price history and the 52-week range from Twelve Data, both refreshed weekly. Short interest comes from FINRA, reported twice a month.
- How to check a figure: click any number in the card above to see its exact source, and read the Editorial Standards for every rule behind the checks.
About this Coinbase Global Inc analysis
This page shows every value-investing check the site runs on Coinbase Global Inc (COIN) in one place: the 8 mechanical filters, the Buffett and Lynch checklists, a margin of safety from a disclosed DCF, earnings quality, shareholder yield and how it ranks against its sector peers. The numbers come from SEC filings and public market data, refreshed weekly, and the same rules apply to every stock on the stock list. See Editorial Standards for the sources and the rules, or run your own filters in the stock screener.