Coinbase Global (COIN) Operating Margin (2020 - 2025)
Coinbase Global (COIN) has disclosed Operating Margin for 6 consecutive years, with 15.37% as the latest value for Q4 2025.
- On a quarterly basis, Operating Margin fell 3015.0% to 15.37% in Q4 2025 year-over-year; TTM through Dec 2025 was 19.99%, a 1516.0% decrease, with the full-year FY2025 number at 19.99%, down 1516.0% from a year prior.
- Operating Margin was 15.37% for Q4 2025 at Coinbase Global, down from 25.71% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 54.84% in Q1 2021 to a low of 129.2% in Q2 2022.
- A 5-year average of 1.41% and a median of 14.72% in 2025 define the central range for Operating Margin.
- Peak YoY movement for Operating Margin: plummeted -16847bps in 2022, then soared 11881bps in 2023.
- Coinbase Global's Operating Margin stood at 36.92% in 2021, then tumbled by -339bps to 88.2% in 2022, then skyrocketed by 114bps to 12.12% in 2023, then surged by 276bps to 45.52% in 2024, then tumbled by -66bps to 15.37% in 2025.
- Per Business Quant, the three most recent readings for COIN's Operating Margin are 15.37% (Q4 2025), 25.71% (Q3 2025), and 1.65% (Q2 2025).