Coinbase (COIN): financials, SEC filings and peers
Coinbase (COIN) is a financial exchanges & data company in the Financials sector of the S&P 500, headquartered in New York City, New York.
It was founded in 2012 and joined the S&P 500 on May 19, 2025.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Finance Services”.
Coinbase at a glance
- Revenue (12 months)
- $5.6B
- Revenue growth
- -26.6%
- Operating margin
- 3.6%
- Net income (12 months)
- −$702M
- Free cash flow (12 months)
- —
- Cash
- $8.6B
- Debt
- $6.6B
- Diluted EPS (12 months)
- $-2.74
Twelve months to September 30, 2026, from the 10-Q filed October 29, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Coinbase reported revenue of $5.6 billion, down 26.6% from $7.7 billion a year earlier.
Its operating margin was 3.6%, down 25.1 percentage points from a year earlier: for every $100 of sales, about $4 was left as operating profit.
Coinbase reported a net loss of $702 million over the period.
At the end of the period it held $8.6 billion in cash and $6.6 billion in debt, a net cash position of $2.0 billion.
The diluted share count fell 1.4% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $1.3 billion in fiscal 2020 to $7.2 billion in fiscal 2025, about 41.2% a year.
- Operating margin narrowed from 32.0% to 20.0% over the same years.
- Free cash flow was negative in 1 of the last 3 fiscal years.
- Coinbase reported a net loss in 1 of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $7.8B | $3.2B | $3.1B | $6.6B | $7.2B |
| Revenue growth | 513.7% | -59.3% | -2.7% | 111.2% | 9.4% |
| Operating margin | 39.2% | -84.8% | -5.2% | 35.1% | 20.0% |
| Net income | $3.6B | −$2.6B | $95M | $2.6B | $1.3B |
| Free cash flow | $4.0B | −$1.6B | — | — | — |
| Diluted EPS | $14.50 | $-11.83 | $0.37 | $9.48 | $4.45 |
Fiscal years as reported in Coinbase’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed October 29, 2026 — quarterly report
- 8-K filed October 29, 2026 — Earnings results
- 8-K filed October 2, 2026 — Executive or director change
- 8-K filed September 2, 2026 — Executive or director change
- 10-Q filed July 30, 2026 — quarterly report
- 8-K filed July 30, 2026 — Earnings results
- 8-K filed July 23, 2026 — Executive or director change
- 8-K filed July 9, 2026 — Executive or director change
Companies like Coinbase
Other S&P 500 companies in Financial Exchanges & Data:
- CBOECboe Global MarketsChicago, Illinois
- CMECME GroupChicago, Illinois
- FDSFactSetNorwalk, Connecticut
- ICEIntercontinental ExchangeAtlanta, Georgia
- MCOMoody's CorporationNew York City, New York
- MSCIMSCINew York City, New York
- NDAQNasdaq, Inc.New York City, New York
- SPGIS&P GlobalNew York City, New York
More from Financials
Questions about Coinbase
Is Coinbase's revenue growing?
No. Revenue for the twelve months to September 30, 2026 was $5.6 billion, down 26.6% from a year earlier, according to its SEC filings.
Is Coinbase profitable?
Not over the latest twelve months: it reported a net loss of $702 million for the period to September 30, 2026.
Does Coinbase have more cash or more debt?
At September 30, 2026 it had $8.6 billion in cash and $6.6 billion in debt, so more cash than debt.
When did Coinbase last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 29, 2026.
Which companies are similar to Coinbase?
In the S&P 500, Coinbase is grouped in Financial Exchanges & Data within the Financials sector. Cboe Global Markets (CBOE), CME Group (CME), FactSet (FDS), Intercontinental Exchange (ICE), Moody's Corporation (MCO) are in the same group.
Understand the numbers
Source: Coinbase’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.