Coincheck (CNCK) Gross Margin (2023 - 2026)
Coincheck's (CNCK) quarterly Gross Margin came in at 1.61% in Q2 2026, down 110.0% year-over-year from 16.09% in Q2 2025, and up 235.35% quarter-over-quarter from 1.19% in Q1 2026.
Analysis
Coincheck (CNCK) Gross Margin (2023 - 2026) Analysis & Trends
Coincheck (CNCK) has reported Gross Margin for 4 consecutive years, with 1.61% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin fell 110.0% year-over-year to 1.61% in Q2 2026; TTM through Jun 2026 was 0.05%, a 40.0% decrease from a year earlier, with the FY2026 full-year figure at 0.31%, down 6.0% from the prior year.
- Gross Margin was 1.61% for Q2 2026 at Coincheck, up from 1.19% in the prior quarter.
- Over five years, Gross Margin peaked at 4.35% in Q1 2024 and troughed at 1.38% in Q4 2024.
- A 4-year average of 1.3% and a median of 0.92% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin tumbled 498 bps in 2024 and surged 161 bps in 2025, its largest moves.
- Over 4 years, Gross Margin stood at 3.6% in 2023, then plunged by 138 bps to 1.38% in 2024, then surged by 117 bps to 0.23% in 2025, then surged by 595 bps to 1.61% in 2026.
- The last three Gross Margin figures came in at 1.61% (Q2 2026), 1.19% (Q1 2026), and 0.23% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 51.24 Bn | 42.45 Bn | 1.16 Bn | 95.11% |
| 2 | Bullish | 5.78 Bn | 5.72 Bn | 15.53 Mn | 0.05% |
| 3 | Cypherpunk Technologies | 663.58 Mn | 663.58 Mn | - | - |
| 4 | Canton Strategic Holdings | 498.79 Mn | 498.79 Mn | - | - |
| 5 | Bakkt | 387.06 Mn | 336.37 Mn | 2.21 Mn | 1.30% |
| 6 | Coincheck | 264.39 Mn | 162.79 Mn | 11.20 Mn | 1.61% |
| 7 | Wewards | 214.97 Mn | 214.97 Mn | - | - |
| 8 | Exodus Movement | 205.10 Mn | -149.98 Mn | - | - |
| 9 | Usbc | 197.95 Mn | 194.29 Mn | - | - |
| 10 | TON Strategy | 191.64 Mn | 191.61 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.61% |
| Mar 31, 2026 | -1.19% |
| Dec 31, 2025 | 0.23% |
| Sep 30, 2025 | -0.66% |
| Jun 30, 2025 | 2.71% |
| Mar 31, 2025 | -0.01% |
| Dec 31, 2024 | -1.38% |
| Sep 30, 2024 | 0.92% |
| Jun 30, 2024 | 4.13% |
| Mar 31, 2024 | 4.35% |
| Dec 31, 2023 | 3.60% |