Coinbase (COIN) BMO (ZCOI) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Coinbase (COIN) BMO C$5.87, price C$6.16, upside -4.7%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
10‑month range C$4.44 – C$8.40 · fair‑value band C$3.52 – C$8.91 · the C$6.16 price screens above the C$5.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 24, 2026.
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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.
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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 (COIN) BMO CDR (CAD Hedged) (ZCOI) currently trades at C$6.16, while our model-based Fair Value estimate is C$5.87, so the stock looks roughly fairly valued today (gap 4.9%).
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Valuation
How firm this estimate is: it rests on 23 models at a data quality of 91/100, which puts the evidence level at medium.
Scenario range: C$3.52 (bear) to C$8.91 (bull), the price of C$6.16 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 54/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Coinbase (COIN) BMO CDR (CAD Hedged) reported revenue of $7.2B in FY2025 versus $3.2B in FY2022, a compound +31.0%/yr. Reported net income was $1.3B in FY2025.
Key figures
Market cap C$1.6B (≈ $1.2B) · P/E ratio 1.3 · P/S ratio 0.24 · EPS (TTM) C$3.80 · Net margin 17.6% · Return on equity 6.7% · Return on assets (EBIT) 3.1% · Operating margin −7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −5%, ZCOI screens cheaper than that median.
Fair Value models
Bear C$3.52Fair Value C$5.87Bull C$8.91
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 (C$2.87 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.
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 growth appears healthy and is supported by profitability and cash-flow quality.
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%
’22
’23
’24
’25
Profit margin (trend) ⓘ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.
−61.0% (2022) → 20.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
Compare Coinbase (COIN) BMO CDR (CAD Hedged) with another stock
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 · 52 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Bottom 25%
Fair Value upside−4.7% · Above median
Profitability
Return on equity (TTM)6.7% · Bottom 25%
Return on assets1.9% · Below median
Net margin (TTM)12.7% · Bottom 25%
Operating margin (TTM)−7.1% · Bottom 25%
Growth and dividend
Revenue growth−30.8% · Bottom 25%
Balance sheet
Debt / equity0.40× · Highest 25%
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.
Is Coinbase (COIN) BMO (ZCOI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of C$5.87 versus the last price from Sep 24, 2026 of C$6.16, about −5% upside (fairly valued).
What is the fair value of ZCOI?
Our model-based fair value for Coinbase (COIN) BMO CDR (CAD Hedged) is C$5.87 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 24, 2026): C$6.16.
What is the quality score of ZCOI?
Coinbase (COIN) BMO CDR (CAD Hedged) has a Quality Score of 54/100. 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 (COIN) BMO (ZCOI)?
Our model-based price target is the fair value of C$5.87 (as of Sep 24, 2026) from 10 valuation models. Cautious scenario C$3.52, optimistic scenario C$8.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Coinbase (COIN) BMO CDR (CAD Hedged) stock forecast for 2026?
Our models put fair value at C$5.87, about −5% upside versus the last price from Sep 24, 2026 of C$6.16 (fairly valued). Cautious scenario C$3.52, optimistic scenario C$8.91. The calculation is refreshed regularly with new filings.
What is the revenue of Coinbase (COIN) BMO (ZCOI)?
Coinbase (COIN) BMO CDR (CAD Hedged) reported trailing-twelve-month revenue of about C$6.3B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Coinbase (COIN) BMO (ZCOI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coinbase (COIN) BMO CDR (CAD Hedged) it is C$5.87 per share (as of Sep 24, 2026), against a price of C$6.16. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Coinbase (COIN) BMO CDR (CAD Hedged) stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ZCOI trades above its calculated fair value: price C$6.16, fair value C$5.87, a gap of about −5% (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 ZCOI?
No. The price is what the market pays today (C$6.16); the fair value is what the company's own numbers justify (C$5.87). For Coinbase (COIN) BMO CDR (CAD Hedged) the two are C$0.2883 per share apart. That gap is exactly why we show both numbers side by side.
How much is Coinbase (COIN) BMO CDR (CAD Hedged) worth?
The market values Coinbase (COIN) BMO CDR (CAD Hedged) at about C$1.6B (market capitalisation, as of Sep 24, 2026). Per share that is C$6.16; our models calculate a fair value of C$5.87 per share.
What do the bullish and bearish scenarios say about ZCOI?
Our models span a range for Coinbase (COIN) BMO CDR (CAD Hedged): cautious scenario C$3.52, base C$5.87, optimistic C$8.91 per share (as of Sep 24, 2026, price C$6.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZCOI?
Coinbase (COIN) BMO CDR (CAD Hedged) trades at a price-to-earnings ratio of 1.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$5.87 is built from several models across several years. Other multiples: PEG 0.0, P/B 0.1, P/S 0.2.
What is the PEG ratio of ZCOI?
The PEG ratio of Coinbase (COIN) BMO CDR (CAD Hedged) is 0.02 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Coinbase (COIN) BMO (ZCOI)?
Balance-sheet figures for Coinbase (COIN) BMO CDR (CAD Hedged) (as of Sep 24, 2026): return on equity 6.7%, debt of 0.40 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
Which stocks are comparable to Coinbase (COIN) BMO CDR (CAD Hedged)?
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 (COIN) BMO CDR (CAD Hedged) stock attractive at the current price?
The data as of Sep 24, 2026: price C$6.16, calculated fair value C$5.87 (−5%), Quality Score 54/100, 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 ZCOI calculated?
We run Coinbase (COIN) BMO CDR (CAD Hedged) 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 C$5.87, 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 (COIN) BMO CDR (CAD Hedged) 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 (COIN) BMO (ZCOI)?
The latest price we hold is from Sep 24, 2026 and stands at C$6.16. Our model-based fair value is C$5.87, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coinbase (COIN) BMO CDR (CAD Hedged) right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (C$3.52 to C$8.91) 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 (COIN) BMO CDR (CAD Hedged)
How large is the market capitalisation of Coinbase (COIN) BMO (ZCOI)?
The market capitalisation of Coinbase (COIN) BMO CDR (CAD Hedged) is C$1.6B (≈ $1.2B). 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 (COIN) BMO (ZCOI)?
The price-to-sales ratio of Coinbase (COIN) BMO CDR (CAD Hedged) is 0.24 (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 (COIN) BMO (ZCOI)?
Earnings per share at Coinbase (COIN) BMO CDR (CAD Hedged) are C$3.80 (price ÷ EPS = P/E 1.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Coinbase (COIN) BMO (ZCOI)?
The net margin of Coinbase (COIN) BMO CDR (CAD Hedged) 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 (COIN) BMO (ZCOI)?
The return on equity (ROE) of Coinbase (COIN) BMO CDR (CAD Hedged) 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 (COIN) BMO (ZCOI)?
On an EBIT basis the return on assets of Coinbase (COIN) BMO CDR (CAD Hedged) is 3.1% (avg 4y). 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 (COIN) BMO (ZCOI)?
The operating margin of Coinbase (COIN) BMO CDR (CAD Hedged) 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 (COIN) BMO (ZCOI)?
Revenue at Coinbase (COIN) BMO CDR (CAD Hedged) 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 much free cash flow does Coinbase (COIN) BMO (ZCOI) generate?
The free cash flow of Coinbase (COIN) BMO CDR (CAD Hedged) is C$2.4B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Some data
Sep 24, 2026