Financials Coinbase Global, Inc.

Equities

COIN

US19260Q1076

Blockchain & Cryptocurrency

Market Closed - Nasdaq Other stock markets 02:30:00 16/01/2026 am IST			After hours 06:30:00 am
239.28 ^USD	-6.48%		242.56	+1.37%

16/01	US Equity Markets Rise on Bank Earnings, AI-Driven Chip Optimism	MT
16/01	Coinbase Pulls Support For Crypto Bill	MT

Projected Income Statement: Coinbase Global, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,277	7,839	3,194	3,108	6,564	7,275	8,277	9,151
Change	-	513.66%	-59.25%	-2.69%	111.17%	10.83%	13.77%	10.56%
EBITDA ¹	-	4,090	-371.4	963.7	3,348	2,918	3,523	4,062
Change	-	-	-109.08%	359.47%	247.38%	-12.84%	20.75%	15.3%
EBIT ¹	-	3,077	-2,710	-161.7	2,307	1,653	2,397	2,823
Change	-	-	-188.09%	94.04%	1,527.15%	-28.34%	45.01%	17.76%
Interest Paid ¹	-	-35.61	-88.9	-82.77	-80.64	-85.47	-88.21	-91.51
Earnings before Tax (EBT) ¹	-	3,027	-3,065	-76.84	2,943	2,720	2,493	2,951
Change	-	-	-201.24%	97.49%	3,929.32%	-7.56%	-8.34%	18.35%
Net income ¹	-	3,624	-2,625	94.75	2,579	2,197	1,946	2,385
Change	-	-	-172.43%	103.61%	2,621.91%	-14.82%	-11.42%	22.55%
Announcement Date	25/02/21	24/02/22	21/02/23	15/02/24	13/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	1,801	2,228	1,312	2,498	1,166	808.3	590.3	629.1	772.5	707.9	674.1	953.8	1,638	1,450	1,205	2,272	2,034	1,497	1,869	1,862	1,916	2,025	2,118	2,225	2,070	2,125	2,182
Change	-	23.7%	-41.12%	90.44%	-53.31%	-30.7%	-26.97%	6.57%	22.8%	-8.36%	-4.77%	41.48%	71.69%	-11.48%	-16.86%	88.49%	-10.45%	-26.4%	24.81%	-0.38%	2.91%	5.71%	4.57%	5.06%	-6.96%	2.67%	2.7%
EBITDA ¹	1,117	1,150	618.2	1,205	19.69	-151.1	-115.9	-124.1	283.7	194	180.9	305.1	1,014	595.6	448.6	1,289	929.9	512.1	800.7	711.9	760.1	848.8	909.8	981.6	820.5	866	916
Change	-	2.9%	-46.23%	94.89%	-98.37%	-867.36%	23.29%	-7.1%	328.54%	-31.62%	-6.71%	68.62%	232.44%	-41.28%	-24.67%	187.33%	-27.86%	-44.93%	56.36%	-11.08%	6.77%	11.66%	7.19%	7.89%	-16.42%	5.55%	5.77%
EBIT ¹	987.7	874.7	291.8	922.3	-554.5	-1,044	-556.5	-554.9	-123.9	-73.58	-79.82	115.6	760.5	343.1	169.5	1,034	705.8	-24.65	480.5	352.9	470.8	532.8	573.5	651.7	433.3	464	498.2
Change	-	-11.44%	-66.64%	216.07%	-160.12%	-88.36%	46.72%	0.29%	77.68%	40.61%	-8.49%	244.83%	557.76%	-54.88%	-50.6%	510.02%	-31.74%	-103.49%	2,049.42%	-26.56%	33.4%	13.17%	7.65%	13.64%	-33.51%	7.08%	7.36%
Charge d'intérêts ¹	-4.273	-2.925	-6.972	-21.44	-22.14	-23.66	-21.51	-21.6	-21.54	-21.67	-20.82	-18.74	-19.07	-20.51	-20.53	-20.54	-20.51	-20.54	-21.77	-23.09	-22.63	-22.07	-22.07	-22.17	-25.5	-26	-26
Earnings before Tax (EBT) ¹	996.7	868.9	270.9	890.5	-609.4	-1,241	-643.7	-570.9	-165.7	-78.68	34.66	132.9	1,437	-60.24	68.58	1,497	82.46	1,824	502.1	328.6	523.6	510.5	517.8	657.9	438	686	796
Change	-	-12.82%	-68.83%	228.78%	-168.44%	-103.56%	48.11%	11.31%	70.98%	52.51%	144.05%	283.29%	981.97%	-104.19%	213.85%	2,082.64%	-94.49%	2,111.81%	-72.47%	-34.57%	59.35%	-2.5%	1.43%	27.06%	-33.42%	56.62%	16.03%
Net income ¹	771.5	1,606	406.1	840.2	-429.7	-1,094	-544.6	-557	-78.9	-97.4	-2.265	273.3	1,176	36.15	75.5	1,291	65.61	1,429	432.6	300.1	395.9	454.6	458	589.6	358.5	583	677
Change	-	108.22%	-74.72%	106.9%	-151.14%	-154.54%	50.2%	-2.27%	85.84%	-23.46%	97.67%	12,164.33%	330.45%	-96.93%	108.84%	1,610.28%	-94.92%	2,077.94%	-69.73%	-30.62%	31.92%	14.82%	0.74%	28.75%	-39.2%	62.62%	16.12%
Announcement Date	13/05/21	10/08/21	09/11/21	24/02/22	10/05/22	09/08/22	03/11/22	21/02/23	04/05/23	03/08/23	02/11/23	15/02/24	02/05/24	01/08/24	30/10/24	13/02/25	08/05/25	31/07/25	30/10/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Coinbase Global, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-3,312	-880	-2,096	-4,010	-5,929	-7,847	-10,552
Change	-	-	73.43%	-138.18%	-91.32%	-47.87%	-32.35%	-34.47%
Announcement Date	25/02/21	24/02/22	21/02/23	15/02/24	13/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Coinbase Global, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	24.98	63.97	75.02	-	90.55	99.1	108.2
Change	-	156.06%	17.28%	-	-	9.45%	9.14%
Free Cash Flow (FCF) ¹	4,483	-1,649	847.9	2,557	2,990	2,763	3,177
Change	-	-136.79%	151.41%	201.54%	16.94%	-7.58%	14.99%
Announcement Date	24/02/22	21/02/23	15/02/24	13/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Coinbase Global, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	52.17%	-11.63%	31%	51%	40.11%	42.57%	44.39%
EBIT Margin (%)	-	39.24%	-84.85%	-5.2%	35.15%	22.72%	28.97%	30.85%
EBT Margin (%)	-	38.61%	-95.94%	-2.47%	44.83%	37.39%	30.12%	32.25%
Net margin (%)	-	46.23%	-82.18%	3.05%	39.29%	30.2%	23.51%	26.06%
FCF margin (%)	-	57.19%	-51.64%	27.28%	38.95%	41.1%	33.39%	34.72%
FCF / Net Income (%)	-	123.71%	62.84%	894.89%	99.14%	136.1%	141.99%	133.23%
Profitability
ROA	-	27.73%	-4.73%	0.06%	13.9%	7.55%	6.45%	7.9%
ROE	-	102.43%	-44.35%	1.61%	31.3%	17.62%	12.81%	13.86%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	0.32%	2%	2.41%	-	1.24%	1.2%	1.18%
CAPEX / EBITDA (%)	-	0.61%	-17.22%	7.79%	-	3.1%	2.81%	2.66%
CAPEX / FCF (%)	-	0.56%	-3.88%	8.85%	-	3.03%	3.59%	3.4%
Items per share
Cash flow per share ¹	-	48.78	-7.131	3.628	-	-	-	-
Change	-	-	-114.62%	150.88%	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	29.39	24.05	24.69	40.52	53.72	54.86	56.79
Change	-	-	-18.18%	2.67%	64.09%	32.58%	2.13%	3.52%
EPS ¹	1.57	14.5	-11.81	0.37	9.48	7.785	6.418	7.814
Change	-	823.57%	-181.45%	103.13%	2,462.16%	-17.88%	-17.56%	21.75%
Nbr of stocks (in thousands)	-	2,15,205	2,26,966	2,39,246	2,50,350	2,69,658	2,69,658	2,69,658
Announcement Date	25/02/21	24/02/22	21/02/23	15/02/24	13/02/25	-	-	-