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Fundamental analysis: Coinbase Global, Inc. (COIN)

Awarener score: 5.1

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (unknown) and growth (unknown), and the company's inclination to return cash to the stockholders (Lacking).

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: a result could not be reached

  • Business growth could not be estimated, due to not enough input data. It's been unavailable to compare with peer companies.
  • Coinbase Global, Inc. business stability could not be estimated, due to insufficient input data. It looks we cannot compare it to rivals.

Margins score: 7.0

  • COIN profit margins -on goods and services sold- are usually huge. They stand top-notch against rival companies.
  • Business profit on sales tends to be good. It's top tier when measured against competitors.
  • Profits on sales made -available to repay debt and purchase properties- are usually hardly sufficient. They remain impressive in relation to peers.
  • Earnings -before income taxes and interests on loans taken- tend to be sufficient in relation to total revenues. They're still top-notch against similar companies.
  • Profits -before income taxes- are usually sufficient considering total sales, and remain top tier when measured against rivals.
  • Total net profit tends to be very good when confronted to sales. Company stands top tier when measured against comparable firms.

Growth score: 1.0

  • Coinbase Global, Inc. has an unknown gross margin growth, as there is not enough data to analyze. It's been impossible to compare to competitors.
  • There is not sufficient data to estimate the operating income margin trend, which has been therefore unknown against comparable firms.
  • EBITDA growth is unknown due to insufficient inputs, which compares unknown against peer enterprises.
  • We were not able to provide an estimate for EBIT growth, because of lacking data. It turns to be not yet known in relation to similar stocks.
  • Profit before income tax growth was not estimated, on insufficient history. It was impossible to measure against rivals.
  • Net income growth could not be estimated, and so it is unknown against peer companies.
  • There was not enough input data to estimate EPS trend. It's been an impossibility to compare it with industry peers.

Miscellaneous score: 5.0

  • COIN managed to get a credit on income taxes in the past years, even though it earned money. It's been better than most peers.
  • Research and development expenses consume quite a bit of revenues. It's almost average when measured against competitors.
  • Business has seen substantial shrinking, despite research and development efforts. It stands excellent in relation to rival companies.

Profitability score: 7.5

  • Coinbase Global, Inc. usually gets very good returns on the resources it controls. It proves great when measured against peer firms.
  • The company normally gets sufficient proceeds -on the resources directly invested in the business-. They remain impressive in relation to similar companies.
  • There's usually excellent profitability -in relation to owned resources-. It ranks top tier when measured against competitors.
  • In the past, got good returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's great when measured against comparable enterprises.

Usage of Funds score: 3.2

  • COIN remains pending of analysis regarding capital expenditures, due to data unavailable. It stands great when measured against rival firms.
  • The company is usually replacing most of the property, plant, and equipment that gets old, and saving a little funds for something else, which is similar to industry peers.
  • In the past twelve months the stock paid no dividends. It came bottom tier against competitors.
  • The company pays no dividend, so measuring its growth is meaningless. The company has behaved in an conservative way compared to similar firms.
  • As no dividends are paid, it is useless trying to estimate their sustainability in time. Sustainability looks not applicable in regard to comparable companies.
  • The company somewhat enlarges a bit the pool of investors, resulting in more mouths feeding on the pie of profits. It remains in a weak position compared to peer enterprises.
  • We are not sure on the effectiveness of the company when repurchasing shares, as there were not enough numbers to crunch. It stands unidentified against rivals.
  • We do not have sufficient data to comment on buybacks and their sustainability. It still looks dubious against competitors.

Balance Sheet score: 5.6

  • Coinbase Global, Inc. intangible assets (like brands and goodwill) represent a modest portion of resources controlled, according to accounting books. There could be some difficulties in liquidating them if the company ever gets in financial distress. It happens to be encouraging in relation to peer companies.
  • The company has somewhat lower short-term resources than short-term obligations. Unless it's part of the business model, there might some liquidity concerns. It turns to be lacking compared to similar firms.
  • Very few resources controlled were provided for with financial debt. Financial strength is very solid. Company could increase debt if it wished so, to reinvest in business, to buy a smaller company or to reward stockholders. It remains slightly worse than rival firms.
  • Most controlled resources can be made into cash reasonably quick, which is good for liquidity and risk. It looks encouraging in relation to rivals.
  • For every dollar of short-term obligations, the company has few cents of cash and short-term receivables. It's in a very weak position compared to peer firms.
  • For every dollar of short-term obligations, the company has extremely few cents of cash and equivalents, which is mediocre against similar enterprises.
  • Usually, sales are on less than a month credit. It still ranks great when measured against peers.
  • Normally has no inventories. It comes up as impressive in relation to competitors.
  • On average, it takes close to one month from the purchase to charging customers. It happens to be better than most peers.
  • On average pays suppliers before a month from the purchase. It ranks last-in-rank when measured against industry peers.
  • The company pays its suppliers almost when charging its customers, so there's very little money invested in working capital. It's a slight improvement compared to similar companies.
  • Net interest expenses consume a minor portion of usual business earnings, and are largely bearable. It stands well ranked against rival firms.
  • Business earnings have usually been very low when measured against loans taken. Even significantly cutting back reinvesting in the business, it could take more than ten years to repay the obligations with current profitability. It ranks similar to comparable enterprises.
  • Revenues are excellent in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. Low property, plant, and equipment requirements, allows the company to keep more money to reward stockholders in the long run. It looks impressive in relation to similar firms.
  • Resource exploitation is very low when yearly sales are considered, business volume must be greatly increased. This metric is normally tied to the industry where the firm belongs. It's still somewhat worse than peer companies.

Valuation score: 4.6

  • Coinbase Global, Inc. reported losses, so valuating it in relation to earnings is meaningless. It happens to be great when measured against competitors.
  • Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains in good shape compared to peers.
  • There is insufficient information on the genuine funds generation capability showed in the past twelve months, which stands as an incognita in relation to similar companies.
  • Unfortunately, lack of enough yearly data impaired our ability to estimate the normal earnings power. It's still an unknown variable to measure against industry firms.
  • In the past twelve months, the company has enlarged the pool of investors by issuing new shares. Future profits need to be high enough to justify the measure, as the pie of earnings will now be split among somewhat more stockholders. It came up in a very weak position compared to peer ventures.
  • This company is a cash hoarder. It might be well poised to substantially increase stockholder payments, or to fund new business projects. It looks well ranked against similar enterprises.
  • Considering the past twelve months, traditional Price-to-Earnings relation has been negative, as the company lost money. It ranks top tier when measured against peer companies.
  • Comparing the current stock price with the past twelve-months revenues gives a more than one-to-one relationship. This is an important metric to check its evolution through time, and to compare to industry peers. It looks in good shape compared to rival firms.
  • The relation between the stock price and accounting book value might be more than reasonable. It's important both to check this metric through time and to compare it with rival companies. The company remains somewhat better than peer firms.
  • In the past twelve months, the operating business lost a lot of money. It happens to be top tier when measured against industry peers.
  • In an alternate metric of bang for the buck, the company has usually shown an extreme earnings power ability when measured against the current stock price and financial position. Further analysis is recommended, as the stock might currently be significantly undervalued. It's still impressive in relation to peer companies.

Total score: 4.9


COIN logos

Company at a glance: Coinbase Global, Inc. (COIN)

Sector, industry: Technology, Software—Application

Market Cap: 6.07 billions

Revenues TTM: 5.06 billions

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Awarener score: 5.1

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (Average), the business stability (unknown) and growth (unknown), and the company's inclination to return cash to the stockholders (Lacking).