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Coinbase Valuation Multiples
Discover revenue and EBITDA valuation multiples for Coinbase and similar public comparables like Strategy, Guotai Haitong Securities, Guotai Junan International, CITIC Securities and more.
Coinbase Overview
About Coinbase
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
Founded
2012
HQ
Employees
5.0K
Website
Sectors
Financials (LTM)
EV
$45B
Coinbase Financials
Coinbase reported last 12-month revenue of $7B and EBITDA of $3B.
In the same LTM period, Coinbase generated $6B in gross profit, $3B in EBITDA, and $1B in net income.
Revenue (LTM)
Coinbase P&L
In the most recent fiscal year, Coinbase reported revenue of $7B and EBITDA of $3B.
Coinbase expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $7B | XXX | $7B | XXX | XXX | XXX |
| Gross Profit | $6B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 86% | XXX | 75% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 38% | XXX | 39% | XXX | XXX | XXX |
| EBIT Margin | 20% | XXX | 20% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 17% | XXX | 18% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Coinbase Stock Performance
Coinbase has current market cap of $49B, and enterprise value of $45B.
Market Cap Evolution
Coinbase's stock price is $185.24.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $45B | $49B | 0.0% | XXX | XXX | XXX | $4.77 |
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Start Free TrialCoinbase Valuation Multiples
Coinbase trades at 6.3x EV/Revenue multiple, and 16.4x EV/EBITDA.
EV / Revenue (LTM)
Coinbase Financial Valuation Multiples
As of March 28, 2026, Coinbase has market cap of $49B and EV of $45B.
Equity research analysts estimate Coinbase's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Coinbase has a P/E ratio of 40.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $49B | XXX | $49B | XXX | XXX | XXX |
| EV (current) | $45B | XXX | $45B | XXX | XXX | XXX |
| EV/Revenue | 6.3x | XXX | 6.2x | XXX | XXX | XXX |
| EV/EBITDA | 16.4x | XXX | 16.2x | XXX | XXX | XXX |
| EV/EBIT | 31.9x | XXX | 30.8x | XXX | XXX | XXX |
| EV/Gross Profit | 7.3x | XXX | 8.4x | XXX | XXX | XXX |
| P/E | 40.7x | XXX | 38.8x | XXX | XXX | XXX |
| EV/FCF | 22.3x | XXX | 18.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Coinbase Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Coinbase Margins & Growth Rates
Coinbase's revenue in the last 12 month grew by 3%.
Coinbase's revenue per employee in the last FY averaged $1.4M.
Coinbase's rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Coinbase's rule of X is 46% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Coinbase Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 3% | XXX | (2%) | XXX | XXX | XXX |
| EBITDA Margin | 38% | XXX | 39% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | (6%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.4M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 15% | XXX | 13% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 23% | XXX | 13% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 24% | XXX | 23% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 54% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Coinbase Public Comps
See public comps and valuation multiples for other Crypto & Web3 Platforms and Online Brokers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Strategy | XXX | XXX | XXX | XXX | XXX | XXX |
| Guotai Haitong Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| Guotai Junan International | XXX | XXX | XXX | XXX | XXX | XXX |
| CITIC Securities | XXX | XXX | XXX | XXX | XXX | XXX |
| Block | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Coinbase M&A Activity
Coinbase acquired XXX companies to date.
Last acquisition by Coinbase was on XXXXXXXX, XXXXX. Coinbase acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Coinbase
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialCoinbase Investment Activity
Coinbase invested in XXX companies to date.
Coinbase made its latest investment on XXXXXXXX, XXXXX. Coinbase invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Coinbase
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Coinbase
| When was Coinbase founded? | Coinbase was founded in 2012. |
| Where is Coinbase headquartered? | Coinbase is headquartered in United States. |
| How many employees does Coinbase have? | As of today, Coinbase has over 5K employees. |
| Who is the CEO of Coinbase? | Coinbase's CEO is Brian Armstrong. |
| Is Coinbase publicly listed? | Yes, Coinbase is a public company listed on Nasdaq. |
| What is the stock symbol of Coinbase? | Coinbase trades under COIN ticker. |
| When did Coinbase go public? | Coinbase went public in 2021. |
| Who are competitors of Coinbase? | Coinbase main competitors are Strategy, Guotai Haitong Securities, Guotai Junan International, CITIC Securities. |
| What is the current market cap of Coinbase? | Coinbase's current market cap is $49B. |
| What is the current revenue of Coinbase? | Coinbase's last 12 months revenue is $7B. |
| What is the current revenue growth of Coinbase? | Coinbase revenue growth (NTM/LTM) is 3%. |
| What is the current EV/Revenue multiple of Coinbase? | Current revenue multiple of Coinbase is 6.3x. |
| Is Coinbase profitable? | Yes, Coinbase is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Coinbase? | Coinbase's last 12 months EBITDA is $3B. |
| What is Coinbase's EBITDA margin? | Coinbase's last 12 months EBITDA margin is 38%. |
| What is the current EV/EBITDA multiple of Coinbase? | Current EBITDA multiple of Coinbase is 16.4x. |
| What is the current FCF of Coinbase? | Coinbase's last 12 months FCF is $2B. |
| What is Coinbase's FCF margin? | Coinbase's last 12 months FCF margin is 28%. |
| What is the current EV/FCF multiple of Coinbase? | Current FCF multiple of Coinbase is 22.3x. |
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