Coinbase Global Inc (COIN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Coinbase Global Inc stock $184, price $137, upside +34.7%, quality 64 out of 100. Rating: undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $32.53 – $419.78 · fair‑value band $109.04 – $281.86 · the $136.82 price screens below the $184.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
Follow Coinbase Global in your weekly email
Every Wednesday you see whether Coinbase Global is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Coinbase Global, Inc. operates platform for crypto assets in the United States and internationally.
Show moreShow less
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.
Stock analysis
Coinbase Global Inc (COIN) currently trades at $136.82, while our model-based Fair Value estimate is $184.32, implying the stock looks roughly 26% undervalued today.
Show more
Valuation
Bull case: the Earnings-Based group reads highest at a median of $197.16 per share, and 6 of the 10 models we run sit above the $136.82 price.
Bear case: the Asset-Based group reads lowest at $24.63, and 4 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: $109.04 (bear) to $281.86 (bull), the price of $136.82 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Coinbase Global Inc reported revenue of $7.2B in FY2025 versus $7.8B in FY2021, a compound −2.2%/yr. Reported net income was $1.3B in FY2025, compounding −23.2%/yr from FY2021.
Key figures
Market cap $36.0B Large · P/S ratio 6.71 · EPS (TTM) $−2.77 · Net margin −12.9% · Return on equity −4.7% · Return on assets (EBIT) 5.2% · Operating margin −1.4% · Revenue (TTM) $5.4B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (medium confidence).
What moves the price
The share trades about 57% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 35%, COIN screens cheaper than that median.
Fair Value models
Bear$109.04Fair Value $184.32Bull$281.86
Price $136.82 · Upside +34.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 6 officers or directors sold shares worth $30.4M and none bought.
SaleMarc L AndreessenDirector3× since Sep 8, 2026: 41,028 shares, avg. $189.62$7.8MOct 2, 202610b5-1 plan
SaleAlesia J HaasChief Financial Officer9× since Nov 17, 2025: 466,037 shares, avg. $168.42$78.5MSep 21, 202610b5-1 plan
SaleFrederick R WilsonDirector6× since Dec 1, 2025: 85,068 shares, avg. $178.59$15.2MSep 1, 202610b5-1 plan
SaleJennifer N. JonesChief Accounting Officer5× since Nov 20, 2025: 7,871 shares, avg. $196.48$1.5MAug 24, 202610b5-1 plan
SalePaul GrewalChief Legal Officer4× since Nov 25, 2025: 16,205 shares, avg. $232.86$3.8MMay 27, 202610b5-1 plan
SaleLawrence J BrockChief People Officer3× since Nov 24, 2025: 17,339 shares, avg. $200.34$3.5MMay 22, 202610b5-1 plan
SaleFrederick Ernest Ehrsam IIIDirector9× since Nov 7, 2025: 93,490 shares, avg. $303.98$28.4MJan 15, 202610b5-1 plan
SaleBrian ArmstrongChairman and CEO, Director, 10% owner6× since Nov 10, 2025: 225,000 shares, avg. $267.12$60.1MJan 5, 202610b5-1 plan
SaleEmilie ChoiPresident & COO100,000 shares at $310.88$31.1MNov 11, 202510b5-1 plan
Plus 18 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+31.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+54.2%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−8.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.7%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 20%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+5.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +3.4% a year for the price and +7.2% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
AI conclusion: Regulatory position offers a limited moat but this is offset by competition, cyclical crypto exposure and low returns.
Main risk: Rivals including Binance, Bybit and decentralized exchanges could capture more trading volume from Coinbase, pressuring its fees and margins on spot and derivatives trading.
Bull case: By expanding into derivatives and stablecoins as planned, Coinbase could attract users seeking a comprehensive regulated platform and offset losses to rivals.
Bear case: If decentralized exchanges and global rivals continue gaining share, Coinbase might see sustained declines in trading volumes and revenue from its core exchange services.
Coinbase has cut its dependence on Bitcoin trading fees sharply, down to just 12 percent of revenue as subscription and services revenue rises to nearly half. Our models see the stock as undervalued even as operating margins turned negative in recent quarters with lower volumes. Will the growth in stablecoins and derivatives deliver steadier results than the core exchange business can sustain on its own?
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Data & Stock Exchanges · 48 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score64 · Below median
Fair Value upside+34.7% · Top 25%
Profitability
Return on assets4.3% · Below median
Net margin (12 months)−12.9% · Bottom 25%
Operating margin (12 months)−1.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−34.2% · Bottom 25%
Balance sheet
Debt / equity0.40× · Above median
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Coinbase Global Inc Fair Value". https://www.fairvalue-calculator.com/stock/COIN
Frequently asked questions
Is Coinbase Global Inc (COIN) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $184.32 versus a price of $136.82, about +35% upside (undervalued).
What is the fair value of COIN?
Our model-based fair value for Coinbase Global Inc is $184.32 (as of Nov 6, 2026), built from audited fundamentals. The current price: $136.82.
What is the quality score of COIN?
Coinbase Global Inc has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Coinbase Global Inc (COIN)?
Our model-based price target is the fair value of $184.32 (as of Nov 6, 2026) from 10 valuation models. Cautious scenario $109.04, optimistic scenario $281.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Coinbase Global Inc stock forecast for 2026?
Our models put fair value at $184.32, about +35% upside versus a price of $136.82 (undervalued). Cautious scenario $109.04, optimistic scenario $281.86. The calculation is refreshed regularly with new filings.
What is the revenue of Coinbase Global Inc (COIN)?
Coinbase Global Inc reported trailing-twelve-month revenue of about $5.4B (latest available figure, as of Nov 6, 2026).
What growth is priced into Coinbase Global Inc (COIN)?
For today's price to be fair in a discounted-cash-flow model, Coinbase Global Inc would have to grow free cash flow by +5.9 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +41.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of COIN use?
Our models discount Coinbase Global Inc at 11.5 %: a base by market capitalisation (large), damped by beta 3.35, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Coinbase Global Inc that is +5.9 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Coinbase Global Inc (COIN) delivered so far?
Over the past 5 years revenue at Coinbase Global Inc grew +41.2 % a year. The price currently implies +5.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Coinbase Global Inc (COIN) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Coinbase Global Inc (+5.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Coinbase Global Inc (COIN)?
The free-cash-flow yield on the price is 6.73 %: that much free cash flow Coinbase Global Inc produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Coinbase Global Inc (COIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coinbase Global Inc it is $184.32 per share (as of Nov 6, 2026), against a price of $136.82. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Coinbase Global Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, COIN trades below its calculated fair value: price $136.82, fair value $184.32, a gap of about +35% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of COIN?
No. The price is what the market pays today ($136.82); the fair value is what the company's own numbers justify ($184.32). For Coinbase Global Inc the two are $47.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Coinbase Global Inc worth?
The market values Coinbase Global Inc at about $36.0B (market capitalisation, as of Nov 6, 2026). Per share that is $136.82; our models calculate a fair value of $184.32 per share.
What do the bullish and bearish scenarios say about COIN?
Our models span a range for Coinbase Global Inc: cautious scenario $109.04, base $184.32, optimistic $281.86 per share (as of Nov 6, 2026, price $136.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of COIN?
The PEG ratio of Coinbase Global Inc is 2.10 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Coinbase Global Inc (COIN)?
Balance-sheet figures for Coinbase Global Inc (as of Nov 6, 2026): return on equity −4.7%, debt of 0.40 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is COIN from its 52-week high?
Coinbase Global Inc trades at $136.82, about 57% below its 52-week high of $319.30 and at the low of $136.82 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $184.32 is for.
Which stocks are comparable to Coinbase Global Inc?
From the same area (Financial Services) we also value S&P Global Inc, CME Group, Intercontinental Exchange, Inc, Moody's Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Coinbase Global Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $136.82, calculated fair value $184.32 (+35%), Quality Score 64/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of COIN calculated?
We run Coinbase Global Inc through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $184.32, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Coinbase Global Inc currently trades 26% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Coinbase Global Inc (COIN)?
The closing price on Nov 5, 2026 was $136.82. Our model-based fair value is $184.32, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coinbase Global Inc right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($109.04 to $281.86) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Coinbase Global Inc
How large is the market capitalisation of Coinbase Global Inc (COIN)?
The market capitalisation of Coinbase Global Inc is $36.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Coinbase Global Inc (COIN)?
The price-to-sales ratio of Coinbase Global Inc is 6.71 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Coinbase Global Inc (COIN)?
Earnings per share at Coinbase Global Inc are $−2.77. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Coinbase Global Inc (COIN)?
The net margin of Coinbase Global Inc is −12.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Coinbase Global Inc (COIN)?
The return on equity (ROE) of Coinbase Global Inc is −4.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Coinbase Global Inc (COIN)?
On an EBIT basis the return on assets of Coinbase Global Inc is 5.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Coinbase Global Inc (COIN)?
The operating margin of Coinbase Global Inc is −1.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coinbase Global Inc (COIN)?
Revenue at Coinbase Global Inc is growing −34.2% versus a year earlier (3y avg +31.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Coinbase Global Inc (COIN)?
Earnings per share at Coinbase Global Inc are growing +67.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Coinbase Global Inc (COIN) hold?
Coinbase Global Inc holds more cash than debt, $3.5B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Coinbase Global Inc in the live analysis
One click puts Coinbase Global Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 6, 2026