Coinbase vs Strategy COIN vs MSTR
Coinbase and Strategy on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
What differs most
- Price / sales: Strategy 112.9×, Coinbase 6.7×.
- Debt / equity: Coinbase 0.5×, Strategy 0.1×.
- Consensus revenue growth for next year: Strategy +4.9%, Coinbase −27.2%.
- Market value: Strategy $56.27B, Coinbase $42.11B.
Price return
2025-10-26 → 2026-10-26
COIN−55.0%
MSTR−51.6%
Profile
latestSector
Financial Services
Technology
Industry
Financial - Data & Stock Exchanges
Software - Application
Market value
$42.11B
$56.27B
Enterprise value
$39.89B
$61.33B
Employees
4,951
1,539
Revenue per employee (TTM)
$1.3M
$324K
Our models
nightlythe valuation on each stock's pagePrice vs model
35% undervalued vs model
—
Model range
$246–246
$0.00–0.00
Models in the headline
1
—
FCF growth priced in, at a 10% return
5.0%
—
Every model, its assumptions and its range: COIN valuation · MSTR valuation. The growth priced in, at any return: COIN reverse DCF · MSTR reverse DCF.
Trading
close 2026-10-26Last close
$159.60
$139.82
52-week high
$361.43
$295.63
52-week low
$141.09
$82.31
Price vs 52-week high
−55.8%
−52.7%
Price vs 52-week low
+13.1%
+69.9%
Average daily volume / shares
3.0%
7.8%
Beta
3.41
3.57
Returns
to 2026-10-261 month
−18.2%
−11.8%
3 months
+0.8%
+52.5%
6 months
−20.1%
−18.2%
Year to date
−29.4%
−8.0%
1 year
−55.0%
−51.6%
1 year, dividends added
−55.0%
−51.6%
2 years
−22.2%
−40.3%
Valuation
price × TTM to Jun 2026P/E (TTM)
n/m
n/m
P/E on consensus EPS (next FY)
—
—
Price / sales
6.7×
112.9×
EV / sales
6.3×
123.1×
EV / EBITDA
n/m
n/m
Price / book
3.2×
1.2×
Price / free cash flow (FY)
17.4×
n/m
Free-cash-flow yield (FY)
5.8%
−40.1%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
−27.2%
+4.9%
Revenue, 3-year CAGR
31.0%
−1.5%
Revenue, 5-year CAGR
41.2%
−0.1%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
—
—
EPS, 3-year CAGR
—
—
Free cash flow, 3-year CAGR
—
—
Diluted shares, 3-year change
+29.2%
+159.7%
Profitability
TTM to Jun 2026Gross margin (FY)†
74.6%
68.7%
Operating margin
11.0%
−1676.7%
EBITDA margin
−10.2%
−5552.6%
Net margin
−15.7%
−6103.0%
Free-cash-flow margin (FY)
33.8%
−4731.3%
Return on equity
−7.6%
−67.1%
Return on assets
−3.7%
−57.9%
Asset turnover
0.24
0.01
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
MRQ Jun 2026Cash
$8.89B
$1.71B
Total debt
$6.67B
$6.77B
Net debt
−$2.22B
$5.06B
Debt / equity
0.5×
0.1×
Net debt / EBITDA (TTM)
n/m
n/m
Interest coverage (FY)
16.8×
-83.8×
Current ratio (FY)
2.34
5.62
Dividends
trailing 12 monthsDividend yield
0.0%
0.0%
Dividends per share
$0.00
$0.00
Payout ratio (of TTM EPS)
—
—
Dividend per share, 5-year CAGR
—
—
Frequency
—
—
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
1
2
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$18.0M
$1.8M
Analyst upgrades
1
0
Analyst downgrades
0
0
Statements
income TTM to Jun 2026 · cash flow FY2025Revenue
$6.28B
$498.3M
EBITDA
−$641.8M
−$27.67B
Operating income
$689.6M
−$8.36B
Net income
−$987.8M
−$30.41B
EPS (diluted)
−$3.78
−$93.66
Operating cash flow
$2.43B
−$67.2M
Capital expenditure
$0
−$22.51B
Free cash flow
$2.43B
−$22.58B
Dividends paid
$0
$0
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.