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Coinbase Global, Inc. operates platform for crypto assets in the United States and internationally. It provides the primary financial account in the crypto economy for consumers; a brokerage platform with a pool of liquidity across the crypto marketplace for institutions; and a suite of products granting access to build onchain for developers. The company was founded in 2012 and is based in New York, New York.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.2B | $1.8B | $1.3B | $2.4B | 8.5% | 9.4% | -51.1% |
| 2024 | $6.6B | $3.2B | $2.6B | $3.1B | 25.1% | 111.2% | 2618.5% |
| 2023 | $3.1B | $146M | $95M | $673M | 1.5% | -2.7% | -103.6% |
| 2022 | $3.2B | $-2.8B | $-2.6B | $-1.6B | -48.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 7,181.32 |
| Operating Revenue | 6,883.44 |
| Cost Of Revenue | 1,821.22 |
| Gross Profit | 5,360.10 |
| Operating Expense | 3,903.96 |
| Research And Development | 1,670.60 |
| Selling General And Administration | 1,877.23 |
| Total Expenses | 5,725.18 |
| Operating Income | 1,456.14 |
| Total Operating Income As Reported | 1,435.44 |
| EBITDA | 1,795.91 |
| Normalized EBITDA | 1,664.95 |
| EBIT | 1,607.48 |
| Interest Expense | 85.41 |
| Net Interest Income | -85.41 |
| Other Non Operating Income Expenses | 20.37 |
| Other Income Expense | 151.33 |
| Interest Expense Non Operating | 85.41 |
| Net Non Operating Interest Income Expense | -85.41 |
| Pretax Income | 1,522.06 |
| Tax Provision | 261.74 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 22.52 |
| Net Income Continuous Operations | 1,260.33 |
| Net Income From Continuing And Discontinued Operation | 1,260.33 |
| Net Income From Continuing Operation Net Minority Interest | 1,260.33 |
| Net Income | 1,260.33 |
| Net Income Common Stockholders | 1,260.33 |
| Net Income Including Noncontrolling Interests | 1,260.33 |
| Normalized Income | 1,151.89 |
| Diluted NI Availto Com Stockholders | 1,277.31 |
| Basic Average Shares | 260.09 |
| Diluted Average Shares | 287.21 |
| Reconciled Depreciation | 188.43 |
| Reconciled Cost Of Revenue | 1,821.22 |
| Total Unusual Items | 130.96 |
| Total Unusual Items Excluding Goodwill | 130.96 |
| Special Income Charges | 0 |
| Other Special Charges | - |
| Impairment Of Capital Assets | 0 |
| Restructuring And Mergern Acquisition | 0 |
| Gain On Sale Of Security | 130.96 |
| General And Administrative Expense | 954.88 |
| Other Gand A | 954.88 |
| Salaries And Wages | - |
| Other Operating Expenses | 356.13 |
| Selling And Marketing Expense | 922.35 |
| Otherunder Preferred Stock Dividend | 0 |
| Average Dilution Earnings | 16.99 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coinbase Global, Inc.this co. | COIN | $43.2B | 34.31↑ premium | 2.92 | 8.5% | 22.15 |
| Nasdaq, Inc. | NDAQ | $50.0B | 27.98 | 4.09 | 14.6% | 18.81 |
| Fifth Third Bancorp | FITB | $46.9B | 18.61 | 2.35 | 12.6% | - |
| State Street Corporation | STT | $45.0B | 15.30 | 1.86 | 12.1% | - |
| MSCI Inc. | MSCI | $45.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| 37.44 |
| -16.96 |
| -45.3% |
| 26.42 |
| Ares Management Corporation | ARES | $43.0B | 81.62 | 15.29 | 18.7% | 24.30 |
| Ameriprise Financial, Inc. | AMP | $40.9B | 11.48 | 6.25 | 54.4% | - |
| American International Group, Inc. | AIG | $38.9B | 12.58 | 0.95 | 7.5% | - |
| PayPal Holdings, Inc. | PYPL | $37.7B | 7.21 | 1.86 | 25.8% | 4.84 |
| Peer Median | - | 16.95 | 2.11 | 13.6% | 21.55 | |