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.

Compare other stocks

COINMSTR

Often compared:+ HOOD

What differs most

generated from the numbers below

Price / sales: Strategy 110.5×, Coinbase 7.3×.
Consensus revenue growth for next year: Strategy +4.9%, Coinbase −27.3%.
Debt / equity: Coinbase 0.5×, Strategy 0.2×.
Market value: Strategy $55.06B, Coinbase $45.69B.

Price return

2025-10-16 → 2026-10-16

COIN−47.6%

MSTR−51.8%

Prices at the close on 2026-10-16

$173.16

$136.83

Profile

latest

Sector

Financial Services

Technology

Industry

Financial - Data & Stock Exchanges

Software - Application

Market value

$45.69B

$55.06B

Enterprise value

$43.56B

$60.06B

Employees

4,951

1,539

Revenue per employee (TTM)

$1.3M

$324K

Our models

nightlythe valuation on each stock's page

Price vs model

29% undervalued vs model

—

Model range

$246–246

$0.00–0.00

Models in the headline

—

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 2026-10-16

Last close

$173.16

$136.83

52-week high

$361.43

$301.91

52-week low

$141.09

$82.31

Price vs 52-week high

−52.1%

−54.7%

Price vs 52-week low

+22.7%

+66.2%

Average daily volume / shares

3.0%

8.2%

Beta

3.41

3.57

Returns

to 2026-10-16

1 month

+5.3%

+8.4%

3 months

+7.9%

+45.5%

6 months

−13.3%

−8.1%

Year to date

−23.4%

−10.0%

1 year

−47.6%

−51.8%

1 year, dividends added

−47.6%

−51.8%

2 years

−17.7%

−29.5%

Valuation

price × TTM to Jun 2026

P/E (TTM)

n/m

P/E on consensus EPS (next FY)

—

Price / sales

7.3×

110.5×

EV / sales

6.9×

120.5×

EV / EBITDA

—

Price / book

3.5×

1.8×

Price / free cash flow (FY)

—

n/m

Free-cash-flow yield (FY)

—

−0.1%

Growth

TTM and FY2025

Revenue growth (TTM)

—

Revenue growth, consensus next FY

−27.3%

+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%

+145.3%

Profitability

TTM to Jun 2026

Gross margin (FY)†

74.6%

68.7%

Operating margin

9.9%

−7295.4%

EBITDA margin

—

Net margin

−15.7%

−6103.0%

Free-cash-flow margin (FY)

—

−15.8%

Return on equity

−7.6%

−98.5%

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 2026

Cash

$8.61B

$1.71B

Total debt

$6.48B

$6.71B

Net debt

−$2.13B

$5.00B

Debt / equity

0.5×

0.2×

Net debt / EBITDA (TTM)

—

Interest coverage (FY)

16.8×

-83.8×

Current ratio (FY)

2.34

5.62

Dividends

trailing 12 months

Dividend yield

0.0%

Dividends per share

$0.00

Payout ratio (of TTM EPS)

—

Dividend per share, 5-year CAGR

—

Frequency

—

Ownership and activity

last 90 days · latest 13F

Tracked superinvestors holding (13F)

Insider open-market buys (Form 4)

Insider sales (Form 4)

$18.0M

$1.8M

Analyst upgrades

Analyst downgrades

Statements

income TTM to Jun 2026 · cash flow FY2025

Revenue

$6.28B

$498.3M

EBITDA

—

Operating income

$619.4M

−$36.36B

Net income

−$987.8M

−$30.41B

EPS (diluted)

−$3.78

−$94.04

Operating cash flow

$2.43B

−$67.2M

Capital expenditure

—

−$8.2M

Free cash flow

—

−$75.5M

Dividends paid

—

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Statements from the companies' SEC filings; 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.