COIN vs FNMA
Coinbase Global, Inc. and Federal National Mortgage Association Fannie MAE, side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | COIN | FNMA |
|---|---|---|
| Revenue | $7.2B | $29.0B |
| Net income | $1.3B | $14.4B |
| Gross margin | · | · |
| Net margin | 17.6% | 49.6% |
| Return on equity | 10.1% | 14.1% |
| Diluted EPS | $4.45 | $0.00 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | · | · |
| Equity | $14.8B | $109.0B |
| Net debt / equity | −0.28× | 37.73× |
| Current ratio | 2.34× | · |
| Revenue CAGR 5y | 41.2% | 2.7% |
| Profit CAGR 5y | 31.4% | 4.0% |
FNMA bills 4.0× the revenue of COIN, and keeps more of each dollar of revenue as profit (49.6% against 17.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | COIN | FNMA |
|---|---|---|
| FY2025 | $7.2B | $29.0B |
| FY2024 | $6.6B | $29.1B |
| FY2023 | $3.1B | $29.0B |
| FY2022 | $3.2B | $29.7B |
| FY2021 | $7.8B | $29.9B |
| FY2020 | $1.3B | $25.3B |
| FY2019 | $533.7M | $21.9B |
Bottom line
| Fiscal year | COIN | FNMA |
|---|---|---|
| FY2025 | $1.3B | $14.4B |
| FY2024 | $2.6B | $17.0B |
| FY2023 | $94.9M | $17.4B |
| FY2022 | $-2.6B | $12.9B |
| FY2021 | $3.6B | $22.2B |
| FY2020 | $322.3M | $11.8B |
| FY2019 | $-30.4M | $14.2B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$21,782,675,000 | FNMA |
| FY2024 | −$22,504,972,000 | FNMA |
| FY2023 | −$25,939,617,000 | FNMA |
| FY2022 | −$26,540,792,000 | FNMA |
| FY2021 | −$22,108,556,000 | FNMA |
| FY2020 | −$24,050,519,000 | FNMA |
| FY2019 | −$21,325,265,000 | FNMA |
FNMA has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −32.0 pp | FNMA |
| FY2024 | −19.1 pp | FNMA |
| FY2023 | −56.9 pp | FNMA |
| FY2022 | −125.6 pp | FNMA |
| FY2021 | −27.8 pp | FNMA |
| FY2020 | −21.4 pp | FNMA |
| FY2019 | −70.5 pp | FNMA |
FNMA has kept the higher net margin in every one of these 7 fiscal years.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
COIN's net margin has been more volatile than FNMA's over the 7 comparable fiscal years — 39.9 percentage points of standard deviation against 10.1.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Year by year
FNMA led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
COIN's return on equity has been more volatile than FNMA's over the 7 comparable fiscal years — 41.7 percentage points of standard deviation against 39.7.
7 of 8 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between COIN and FNMA over these 7 fiscal years — COIN led in 2 and FNMA in 5.
7 of 8 comparable fiscal years — a year missing data on either side is not counted.