Coinbase

Financials Financial Exchanges & Data New York City, New York Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$7.2B
                    3y CAGR +31.0%
                    
                    P86
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.3B
                    Net margin +17.6%
                    
                    P38
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$29.7B
                    ROA +4.2%
                    
                    P67
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$2.4B
                    
                    n/a

7 yrs · FY2019–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 1 year

Total assets $29.7B

Total liabilities $14.9B

Shareholders equity $14.8B

Account	2025	Trend
Assets
Cash and Cash Equivalents	38.0%
Short Term Investments	0.0%
Accounts Receivable	1.0%
Prepaid Expenses	0.3%
Other Current Assets	0.6%
Total Current Assets	68.7%
Property,Plant and Equipment	0.9%
Operating Lease Assets	0.5%
Goodwill	14.1%
Intangible Assets	4.7%
Deferred Tax Assets	1.9%
Other Noncurrent Assets	0.9%
Total Assets	100.0%
Liabilities
Accounts Payable	0.4%
Accrued Liabilities	2.3%
Current Portion of Long Term Debt	4.3%
Other Current Liabilities	0.8%
Total Current Liabilities	29.3%
Long Term Debt	20.0%
Operating Lease Liabilities Noncurrent	0.6%
Other Noncurrent Liabilities	0.8%
Total Liabilities	50.1%
Equity
Additional Paid In Capital	28.9%
Retained Earnings	21.0%
Accumulated Other Comprehensive Income	0.0%
Total Stockholders Equity	49.9%
Total Liabilitiesand Equity	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 1 year

Revenue $7.2B

Operating income $1.4B

Net income $1.3B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	24.2%
Expenses Research and Development	5.6%
Expenses Selling,General and Administrative	5.5%
Expenses Depreciation and Amortization	0.2%
Expenses Share Based Compensation	2.8%
Expenses Restructuring and Asset Impairment	0.0%
Expenses Operating Expenses	19.4%
Other Income Expense Operating Income	4.8%
Other Income Expense Other Income/expense	2.4%
Other Income Expense Income Before Tax	5.1%
Income Tax Income Tax Expense	0.9%
net Income net Income	4.2%
net Income Comprehensive Income	4.4%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	0.9%
Earnings Per Share Weighted Average Shares Diluted	1.0%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $2.4B

Investing cash flow $-2.0B

Financing cash flow $740.3M

Account	2025	Trend
CashFlow
Operating Activities net Income	4.2%
Operating Activities Depreciation and Amortization	0.2%
Operating Activities Stock Based Compensation	2.8%
Operating Activities Deferred Income Taxes	0.8%
Operating Activities Changes In Operating Assets and Liabilities	0.0%
Operating Activities Other Non Cash Items	0.2%
Operating Activities net Cash From Operating Activities	8.2%
Investing Activities Business Acquisitions	2.5%
Investing Activities Other Investing Activities	0.4%
Investing Activities net Cash From Investing Activities	-6.9%
Financing Activities Repayment of Debt	0.0%
Financing Activities Repurchase of Common Stock	2.7%
Financing Activities Proceeds From Stock Issuance	0.3%
Financing Activities Tax Withholding On Stock Based Compensation	1.4%
Financing Activities Other Financing Activities	0.1%
Financing Activities net Cash From Financing Activities	2.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%
Cash Reconciliation net Change In Cash	3.8%
Cash Reconciliation Cash At Beginning of Period	56.9%
Cash Reconciliation Cash At End of Period	56.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	—
Operating margin	+20.0%
Net margin	+17.6%
FCF margin	—
Growth
Revenue CAGR (3y)	+31.0%
Returns
ROE	+8.5%
ROA	+4.2%
ROIC	+11.1%
Liquidity
Current ratio	2.34x
Quick ratio	1.33x
Leverage
D/E	1.01x
Interest coverage	—
Efficiency
Asset turnover	0.24x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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