Coinbase Global Inc (COIN) fair value: what the stock is really worth
We calculate from audited financials what Coinbase Global Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 17, 2026.
How to read this chart
60‑month range $32.53 – $419.78 · fair‑value band $55.25 – $281.21 · the $194.25 price screens above the $183.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 17, 2026.
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 (COIN) currently trades at $194.25, while our model-based Fair Value estimate is $183.56, implying the stock looks roughly 5.8% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $199.98 per share, and 5 of the 12 models we run sit above the $194.25 price.
Bear case: the Dividend Discount group reads lowest at $20.23, and 7 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: $55.25 (bear) to $281.21 (bull), the price of $194.25 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 53/100 (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 $55.8B · P/E ratio 61.3 · P/S ratio 10.8 · EPS (TTM) $2.62 · Dividend yield 0.6% · Net margin 17.6% · Return on equity 6.7% · Return on assets (EBIT) 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 56% below its 52-week high and 39% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −6%, COIN screens cheaper than that median.
Fair Value models
Bear $55.25Fair Value $183.56Bull $281.21
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 ($1.96 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.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.
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%
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
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’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.
−8.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.7%
Dividend (yield on the price)0.6%
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).
+15.1%
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.
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.Negative
Recent news coverage is more negative than average.
Price, fair value, quality and upside side by side.
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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 · 55 stocks
Beats the industry median on 3/15 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Bottom 25%
Fair Value upside−60% · Bottom 25%
Profitability
Return on equity (TTM)7% · Bottom 25%
Return on assets2% · Below median
Net margin (TTM)13% · Bottom 25%
Operating margin (TTM)−7% · Bottom 25%
Growth and dividend
Revenue growth−31% · Bottom 25%
Dividend yield (TTM)0.6% · 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 Sep 17, 2026, our model estimates a fair value of $183.56 versus a price of $194.25, about −6% upside (fairly valued).
What is the fair value of COIN?
Our model-based fair value for Coinbase Global Inc is $183.56 (as of Sep 17, 2026), built from audited fundamentals. The current price: $194.25.
What is the quality score of COIN?
Coinbase Global Inc has a Quality Score of 53/100. 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 $183.56 (as of Sep 17, 2026) from 12 valuation models. Cautious scenario $55.25, optimistic scenario $281.21. 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 $183.56, about −6% upside versus a price of $194.25 (fairly valued). Cautious scenario $55.25, optimistic scenario $281.21. 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 $6.3B (latest available figure, as of Sep 17, 2026).
Does Coinbase Global Inc pay a dividend?
Coinbase Global Inc currently shows a dividend yield of about 0.61% relative to its recent price (as of Sep 17, 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 +15.1 % 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 Sep 17, 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 +15.1 % 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 +15.1 % 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 +8.1 % a year. That is the yardstick for the growth priced into Coinbase Global Inc (+15.1 % 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 4.35 %: 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 $183.56 per share (as of Sep 17, 2026), against a price of $194.25. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Coinbase Global Inc stock overvalued or undervalued in 2026?
As of Sep 17, 2026, COIN trades above its calculated fair value: price $194.25, fair value $183.56, a gap of about −6% (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 COIN?
No. The price is what the market pays today ($194.25); the fair value is what the company's own numbers justify ($183.56). For Coinbase Global Inc the two are $10.69 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 $55.8B (market capitalisation, as of Sep 17, 2026). Per share that is $194.25; our models calculate a fair value of $183.56 per share.
What do the bullish and bearish scenarios say about COIN?
Our models span a range for Coinbase Global Inc: cautious scenario $55.25, base $183.56, optimistic $281.21 per share (as of Sep 17, 2026, price $194.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of COIN?
Coinbase Global Inc trades at a price-to-earnings ratio of 61.3 (as of Sep 17, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $183.56 is built from several models across several years. Other multiples: PEG 1.6, P/B 2.9, P/S 6.7, EV/EBITDA 36.8.
What is the PEG ratio of COIN?
The PEG ratio of Coinbase Global Inc is 1.60 (P/E divided by earnings growth, as of Sep 17, 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 Sep 17, 2026): return on equity 6.7%, debt of 0.40 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is COIN from its 52-week high?
Coinbase Global Inc trades at $194.25, about 56% below its 52-week high of $444.65 and 39% above the low of $139.36 (as of Sep 17, 2026). Distance from the high says nothing about value: that is what the fair value of $183.56 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, Moody's Corporation, Intercontinental Exchange, Inc, 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 17, 2026: price $194.25, calculated fair value $183.56 (−6%), Quality Score 53/100, from 12 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 12 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 $183.56, 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 16.1 % above its aggregate fair value. Coinbase Global Inc itself currently trades above fair value. 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 Sep 18, 2026 was $194.25. Our model-based fair value is $183.56, about −6% 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 model range is unusually wide ($55.25 to $281.21). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 $55.8B. 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 10.8 (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 (COIN)?
Earnings per share at Coinbase Global Inc are $2.62 (price ÷ EPS = P/E 61.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Coinbase Global Inc (COIN)?
The dividend yield of Coinbase Global Inc is 0.6% (payout 45.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Coinbase Global Inc (COIN)?
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 (COIN)?
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 (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 −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 (COIN)?
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 (COIN)?
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 (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.
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Broad data
Sep 17, 2026