Coinbase Global (COIN) Operating Margin (2020 - 2026)

Coinbase Global (COIN) has reported Operating Margin for 7 consecutive years, with 9.3% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Margin fell 766.0% year-over-year to 9.3% in Q2 2026; TTM through Jun 2026 was 9.86%, a 1703.0% decrease from a year earlier, with the FY2025 full-year figure at 19.99%, down 1516.0% from the prior year.
• Operating Margin was 9.3% for Q2 2026 at Coinbase Global, down from 1.52% in the prior quarter.
• Over five years, Operating Margin peaked at 645.88% in Q4 2023 and troughed at 129.2% in Q2 2022.
• A 5-year average of 24.52% and a median of 1.58% in 2025 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin surged 73408 bps in 2023 and sank 60036 bps in 2024, its largest moves.
• Over 5 years, Operating Margin stood at 88.2% in 2022, then jumped by 832 bps to 645.88% in 2023, then plunged by 93 bps to 45.52% in 2024, then slumped by 66 bps to 15.37% in 2025, then plunged by 161 bps to 9.3% in 2026.
• The last three Operating Margin figures came in at 9.3% (Q2 2026), 1.52% (Q1 2026), and 15.37% (Q4 2025), per Business Quant data.