Coinbase Global Ratios (2019-2025) | COIN

Ratios Dec2019 Mar2020 Jun2020 Sep2020 Dec2020 Mar2021 Jun2021 Sep2021 Dec2021 Mar2022 Jun2022 Sep2022 Dec2022 Mar2023 Jun2023 Sep2023 Dec2023 Mar2024 Jun2024 Sep2024 Dec2024 Mar2025 Jun2025 Sep2025 Dec2025
Profitability
Gross Margin 94.53%93.89%96.20%95.98%93.45%91.21%91.97%90.21%82.84%82.57%87.15%85.20%91.72%88.15%88.40%88.85%93.98%88.60%86.33%90.06%87.84%84.22%86.07%82.33%
EBT Margin 18.31%20.82%32.57%39.78%55.34%39.00%20.65%35.64%-52.25%-153.47%-109.04%-90.74%-21.45%-11.11%5.14%13.93%87.78%-4.16%5.69%65.89%4.05%121.81%26.87%-49.76%
EBIT Margin 20.34%22.58%32.19%38.73%54.84%39.26%22.24%36.92%-47.53%-129.20%-94.27%-88.20%-16.03%-10.39%-11.84%12.12%46.44%23.67%14.07%45.52%34.70%-1.65%25.71%15.37%
EBITDA Margin 20.34%22.58%32.19%38.73%54.84%39.26%22.24%36.92%-47.53%-129.20%-94.27%-88.20%-16.03%-10.39%-11.84%12.12%46.44%23.67%14.07%45.52%34.70%-1.65%25.71%15.37%
Operating Margin 20.34%22.58%32.19%38.73%54.84%39.26%22.24%36.92%-47.53%-129.20%-94.27%-88.20%-16.03%-10.39%-11.84%12.12%46.44%23.67%14.07%45.52%34.70%-1.65%25.71%15.37%
Net Margin 6.50%13.57%21.53%71.51%30.90%34.10%-36.84%-136.06%-92.26%-88.67%-10.21%-13.79%-0.34%28.66%71.94%2.49%6.26%56.98%3.23%95.68%23.39%-37.14%
FCF Margin 242.72%89.67%66.11%-94.80%189.18%177.89%26.07%-149.51%-8.61%-46.29%-70.00%-120.59%57.98%19.17%43.45%-27.92%25.13%33.40%57.80%66.55%-8.98%21.94%-41.98%172.09%
Efficiency
Assets Average 8.03B13.00B17.12B19.86B21.08B63.18B108.32B100.45B114.51B138.48B132.48B71.03B181.40B317.50B288.76B156.55B22.14B22.60B27.41B30.51B
Equity Average 0.52B0.56B0.66B0.85B1.63B3.46B4.99B5.87B6.44B6.15B5.72B5.54B5.56B5.71B5.84B6.10B7.18B8.22B8.55B9.50B10.37B11.28B14.06B15.41B
Invested Capital 0.50B0.54B0.58B0.74B4.81B8.53B13.59B6.80B9.77B7.94B9.20B9.02B8.85B9.07B9.09B9.00B9.26B12.30B12.60B12.96B14.51B14.71B16.34B23.22B22.00B
Asset Utilization Ratio 0.360.380.350.390.340.090.050.030.020.020.020.040.020.010.020.040.310.310.280.24
Leverage & Solvency
Interest Coverage Ratio 0.00B41.8543.02-25.05-44.15-25.87-25.69-5.75-3.39-3.836.1739.8816.738.2650.3534.41-1.2022.0712.12
Debt to Equity 3.992.701.942.270.602.020.610.640.650.630.600.540.480.520.510.480.450.400.350.450.49
Debt Ratio 0.660.610.570.660.180.630.030.030.040.030.030.030.210.010.010.010.200.190.180.230.24
Equity Ratio 0.160.230.290.290.300.310.060.050.060.040.040.050.430.020.030.030.460.480.520.510.50
Times Interest Earned 0.00B41.8543.02-25.05-44.15-25.87-25.69-5.75-3.39-3.836.1739.8816.738.2650.3534.41-1.2022.0712.12
Valuation
Enterprise Value -0.58B-0.68B-0.73B-0.80B-1.09B-2.01B-4.40B-6.38B-7.15B-6.14B-5.71B-5.03B-5.29B-5.05B-5.48B-5.50B-6.07B-7.57B-8.28B-8.60B-9.31B-10.28B-9.69B-12.37B-11.60B
Return Ratios
Return on Sales 0.17%0.17%0.26%0.30%0.43%0.72%0.31%0.34%-0.37%-1.35%-0.92%-0.89%-0.10%-0.14%0.00%0.29%0.72%0.02%0.06%0.57%0.03%0.95%0.23%-0.37%
Return on Capital Employed 1.76%0.66%0.32%0.36%0.15%0.01%-0.20%-0.14%0.15%-0.13%-0.06%0.00%0.00%0.03%0.12%0.02%0.15%0.13%0.12%0.07%
Return on Invested Capital 0.12%0.16%0.24%0.29%0.44%0.30%-0.02%-0.10%-0.26%-0.22%-0.13%-0.09%0.02%0.06%0.09%0.11%0.15%0.14%0.10%0.09%0.05%
Return on Assets 0.13%0.20%0.17%0.18%0.11%0.00%-0.01%-0.03%-0.02%-0.01%-0.01%0.00%0.01%0.00%0.01%0.02%0.07%0.13%0.12%0.04%
Return on Equity 0.22%0.38%0.65%0.76%0.59%0.62%0.38%-0.05%-0.21%-0.47%-0.41%-0.22%-0.13%0.02%0.19%0.18%0.18%0.27%0.14%0.25%0.23%0.08%