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Coinbase Global, Inc (1QZ) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Coinbase Global, Inc €165, price €164, upside +0.6%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 29, 2026
Coinbase Global, Inc
1QZ · XETRANeutralThe stock looks roughly fairly valued with average quality.
·Fair value €164.69 · Fairly valued (+0.6%)
!Quality 52/100
!Mixed Growth (revenue 5y +41.2 %/yr)
✓Solidly profitable · 12.7% net margin (TTM)
✓Low debt · generates free cash flow
!Narrow moat 36/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range €30.37 – €372.30 · fair‑value band €97.24 – €252.12 · the €163.76 price screens below the €164.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
Company profile
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.
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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.
Stock analysis
Coinbase Global, Inc (1QZ) currently trades at €163.76, while our model-based Fair Value estimate is €164.69, so the stock looks roughly fairly valued today (gap 0.6%).
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Valuation
Bull case: the DCF Models group reads highest at a median of €179.40 per share, and 5 of the 10 models we run sit above the €163.76 price.
Bear case: the Asset-Based group reads lowest at €39.58, and 5 of the 10 models stay below the price. Evidence for this calculation is high.
Scenario range: €97.24 (bear) to €252.12 (bull), the price of €163.76 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 52/100 (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 €47.0B · P/E ratio 58.0 · P/S ratio 10.2 · EPS (TTM) €2.39 · Net margin 17.6% · Return on equity 6.7% · Return on assets (EBIT) 5.1% · Operating margin −7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 51% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at 1%, 1QZ screens cheaper than that median.
Fair Value models
Bear €97.24
Fair Value €164.69
Bull €252.12
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€1.81 per share) are deliberately not added.
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.
Evidence ⓘEvidence = 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.
Highest evidence
Growth DCF
€179.18
€334.60
€589.28
73
Rev-Margin DCF
€106.98
€158.70
€268.16
69
Residual Income
€49.91
€54.04
€63.57
68
All 10 models by family
DCF Models
5Y P/E Exit
€104.35
€179.40
€276.98
67
10Y P/E Exit
€130.43
€222.40
€362.69
60
Earnings-Based
Graham-Dodd
€34.23
€238.69
€334.97
61
Lynch FV
€123.32
€176.17
€229.02
59
Multiples
P/E Multiple
€49.07
€65.43
€81.79
63
P/B Multiple
€62.03
€82.71
€103.39
55
Asset-Based
NCAV (Graham)
€29.54
€39.58
€59.08
54
Growth DCF
Growth DCF
€179.18
€334.60
€589.28
73
Rev-Margin DCF
€106.98
€158.70
€268.16
69
Economic Profit
Residual Income
€49.91
€54.04
€63.57
68
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Set up alert →Quality Score breakdown
Overall quality
52/100
Of which business quality 59 · Market factors (momentum, volatility) 19
Profitability
39
Margins and returns on capital today
Quality Growth
25
Are margins and returns improving?
Cashflow
99
Earnings quality: real cash, not paper profit
Fin. Strength
87
Balance sheet, leverage, solvency risk
Investment
67
Disciplined investing over empire-building
Low Volatility
0
Calm price path (market factor)
Momentum
38
Price trend over the last 3–12 months (market factor)
52W Momentum
10
Distance to the 52-week high (market factor)
Net Issuance
15
Share count: buybacks or dilution?
Revenue & earnings trend
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.
95/100
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.
−13.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.6%
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
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+13.4%
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.
+13.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +10.7% a year for the price and +10.4% for the forecasts.
Forecast 2026 (sales)−15.3%
Forecast 2027 (sales)+26.1%
Projected 2028 (sales)+23.1%
Projected 2029 (sales)+20.1%
Projected 2030 (sales)+17.1%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
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| S&P Global Inc SPGI | $394.47 | $216.54 | −45% |
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| Intercontinental Exchange, Inc ICE | $152.03 | $138.87 | −9% |
| Moody's Corporation MCO | $460.08 | $198.41 | −57% |
| Deutsche Börse AG DB1 | €287.30 | €226.86 | −21% |
| Nasdaq, Inc NDAQ | $91.85 | $41.61 | −55% |
| MSCI Inc MSCI | $539.76 | $262.25 | −51% |
| Cboe Global Markets, Inc CBOE | $253.26 | $247.55 | −2% |
| Hithink RoyalFlush Information Network Co 300033 | ¥204.10 | ¥135.82 | −33% |
| Singapore Exchange Limited S68 | 22.40 SGD | 10.44 SGD | −53% |
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Frequently asked questions
Is Coinbase Global, Inc (1QZ) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €164.69 versus a price of €163.76, about +1% upside (fairly valued).
What is the fair value of 1QZ?
Our model-based fair value for Coinbase Global, Inc is €164.69 (as of Sep 29, 2026), built from audited fundamentals. The current price: €163.76.
What is the quality score of 1QZ?
Coinbase Global, Inc has a Quality Score of 52/100. 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 (1QZ)?
Our model-based price target is the fair value of €164.69 (as of Sep 29, 2026) from 10 valuation models. Cautious scenario €97.24, optimistic scenario €252.12. 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 €164.69, about +1% upside versus a price of €163.76 (fairly valued). Cautious scenario €97.24, optimistic scenario €252.12. The calculation is refreshed regularly with new filings.
What is the revenue of Coinbase Global, Inc (1QZ)?
Coinbase Global, Inc reported trailing-twelve-month revenue of about $6.3B (latest available figure, as of Sep 29, 2026).
What growth is priced into Coinbase Global, Inc (1QZ)?
For today's price to be fair in a discounted-cash-flow model, Coinbase Global, Inc would have to grow free cash flow by +13.4 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +41.2 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of 1QZ use?
Our models discount Coinbase Global, Inc at 11.3 %: a base by market capitalisation (large), damped by beta 3.35, country premium for Germany. 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 +13.4 % per year a year over ten years, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has Coinbase Global, Inc (1QZ) delivered so far?
Over the past 5 years revenue at Coinbase Global, Inc grew +41.2 % a year. The price currently implies +13.4 % 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 (1QZ) 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 (+13.4 % 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 (1QZ)?
The free-cash-flow yield on the price is 4.58 %: that much free cash flow Coinbase Global, Inc produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), 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 (1QZ)?
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 €164.69 per share (as of Sep 29, 2026), against a price of €163.76. 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 Sep 29, 2026, 1QZ trades below its calculated fair value: price €163.76, fair value €164.69, a gap of about +1% (fairly valued). 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 1QZ?
No. The price is what the market pays today (€163.76); the fair value is what the company's own numbers justify (€164.69). For Coinbase Global, Inc the two are €0.9300 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 €47.0B (market capitalisation, as of Sep 29, 2026). Per share that is €163.76; our models calculate a fair value of €164.69 per share.
What do the bullish and bearish scenarios say about 1QZ?
Our models span a range for Coinbase Global, Inc: cautious scenario €97.24, base €164.69, optimistic €252.12 per share (as of Sep 29, 2026, price €163.76). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 1QZ from its 52-week high?
Coinbase Global, Inc trades at €163.76, about 51% below its 52-week high of €335.50 and 38% above the low of €118.80 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €164.69 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 Sep 29, 2026: price €163.76, calculated fair value €164.69 (+1%), Quality Score 52/100, 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 1QZ 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 €164.69, 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 14.5 % above its aggregate fair value. Coinbase Global, Inc currently trades 1 % 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 (1QZ)?
The closing price on Oct 2, 2026 was €163.76. Our model-based fair value is €164.69, about +1% upside (fairly valued). 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 price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€97.24 to €252.12) 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 (1QZ)?
The market capitalisation of Coinbase Global, Inc is €47.0B. 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/E ratio of Coinbase Global, Inc (1QZ)?
The price-to-earnings ratio of Coinbase Global, Inc is 58.0 (as of Jul 15, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Coinbase Global, Inc (1QZ)?
The price-to-sales ratio of Coinbase Global, Inc is 10.2 (P/E × margin). 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 (1QZ)?
Earnings per share at Coinbase Global, Inc are €2.39 (price ÷ EPS = P/E 58.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Coinbase Global, Inc (1QZ)?
The net margin of Coinbase Global, Inc is 17.6% (fiscal year 2025). 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 (1QZ)?
The return on equity (ROE) of Coinbase Global, Inc is 6.7% (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 (1QZ)?
On an EBIT basis the return on assets of Coinbase Global, Inc is 5.1% (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 (1QZ)?
The operating margin of Coinbase Global, Inc is −7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coinbase Global, Inc (1QZ)?
Revenue at Coinbase Global, Inc is growing −30.8% 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 (1QZ)?
Earnings per share at Coinbase Global, Inc are growing +431% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Coinbase Global, Inc (1QZ) 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.
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