Aureus
AExcellent

Coinbase Global, Inc.(COIN)

A

Financial data as of Dec 31, 2024Declining · Financials, Crypto Related

FCF Margin39.0%Free Cash Flow / Revenue
Cash Conversion99.1%Operating CF / Net Income
Free Cash Flow$2.6B
Revenue$6.6B
Net Cash$4.2BCash exceeds debt
Debt / FCF1.7xManageable debt load
Current Ratio2.28Adequate short-term liquidity
YoY FCF Growth-212.6%3 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (39.0%, 1.7x)
→
-1Significant YoY FCF decline (-212.6%)
→
-0.5Highly volatile FCF (consistency: 3.06)
→
+1Net cash position with strong FCF margin
→
+1Very low debt-to-FCF ratio (1.7x)
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (39.0%)
  • Net cash position ($4.2B)
  • Very low debt relative to cash flow (1.7x)
  • Strong liquidity (current ratio: 2.28)

Concerns

  • Only 3 positive FCF quarters recently
  • Significant YoY FCF decline (-212.6%)
  • Highly volatile quarterly FCF
  • Significant FCF decline (-212.6% YoY)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin39.0%
Net Margin39.3%
Operating CF Margin39.0%
CapEx Ratio0.0%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash$4.2BCash exceeds debt
Debt / FCF1.7xManageable debt load
Current Ratio2.28Strong liquidity
Debt / Equity0.42Low leverage

Quarterly FCF Trend

-212.6% YoYDeclining (-212.6%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameCoinbase Global, Inc.
SectorFinancials
Free Cash Flow$2.6B
Revenue$6.6B
Net Income$2.6B
Operating Cash Flow$2.6B
Capital Expenditure$0
FCF Margin39.0%
Cash Conversion Rate99.1%
Net Margin39.3%
Total Debt$4.3B
Total Cash$8.5B
Net Cash$4.2B
Current Ratio2.28
Debt / Equity0.42
Debt / FCF1.7x
YoY FCF Growth-212.6%
Positive Quarters3 of 5
Trend DirectionDeclining
Report DateDec 31, 2024
GradeA
Data SourceYahoo Finance