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MARKETS / NASDAQ / COIN
NASDAQ · FINANCE SERVICES · LARGE CAP

Coinbase Global, Inc. COIN

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$7.2B
▲ 9.4% YoY
$1.3B
▼ 51.1% YoY
In brief

What this company does

Coinbase Global, Inc. operates four exchanges: the Coinbase Exchange, the Coinbase International Exchange, the Coinbase Derivatives Exchange, and the Deribit Exchange. As of December 31, 2025, approximately $7.5 billion worth of staked assets were held on behalf of individual consumers through its platform. As of December 31, 2025, over $15.2 billion worth of assets were staked by institutional customers through Coinbase Prime. As of December 31, 2025, it had 4,951 employees. It offers products primarily to three customer groups: consumers seeking to hold, invest, or trade crypto assets; institutions, including market makers, asset managers, hedge funds, banks, and wealth platforms, that use its products to custody and trade crypto or crypto derivatives; and developers that leverage the Base Chain and Coinbase Developer Platform to build and scale crypto-enabled products. The Company was initially incorporated in May 2012 as Coinbase, Inc., a Delaware corporation; in January 2014, Coinbase Global, Inc. was incorporated as a Delaware corporation to act as its holding company; and in December 2025, Coinbase Global, Inc. converted to a Texas corporation.

Written from the business description in Coinbase Global, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 February 2026. Every sentence was checked against that document before publication.

Growth
USD 7.2B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 7.2 · Net income 1.3
4B-1B-2B2019202020212022202320242025
Compound annual growth
+31.0%
+41.2%
+31.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +41.2% a year over five years — but profit grew slower: net income at +31.4%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
18 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 20.0% · Net 17.6%
20%40%-50%2019202020212022202320242025
ROE
FY2025 · ROE 10.1%
50%-20%-40%2019202020212022202320242025

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders
USD 711.9M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2022 · FCF -1.6
2.0B4.0B-0.8B2019202020212022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 711.9
250.0M500.0M-50.0M-100.0M202320242025

USD 711.9M in buybacks — 56% of the year's profit went back to shareholders.

Total assetsUSD 29.7B
EquityUSD 14.8B
CashUSD 11.3B
Gross debtUSD 7.2B
Net debtUSD -4.1B
Current ratio2.34×

The company holds more cash than debt.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B7.26.63.13.27.81.30.5
Operating income $B1.42.3−0.2−2.73.10.4−0.0
EBITDA $B1.62.4−0.0−2.63.10.4−0.0
Income tax $B0.30.4−0.2−0.4−0.60.1−0.0
Net income $B1.32.60.1−2.63.60.3−0.0
Free cash flow $B···−1.64.00.3−0.1
EPS, diluted $4.459.480.37−11.8314.501.40−0.50
Dividend / sh $·······
Payout %·······
ROE %10.131.21.6−44.498.744.1−6.1
Shares out B0.270.25·····

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 50 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityFinance Services
Listed onNASDAQ
Incorporated inTexas
Fiscal year endsDecember 31
Data on record since2019

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