Analysis for COIN

$183.81 +10.92 (+6.32%)

📈 Growth — 9/30
💰 Profitability — 12/20
🏦 Financial Health — 15/20
💵 Valuation — 12/20
⚠️ Risk — 7/10

Overall Score: 51/100

Summary:

📈 Growth & Financial Trajectory

Over the 7-quarter window, revenues declined from approximately $1.87B in 2024 Q4 to $1.22B in 2026 Q2, a ~35% drop. Net income moved from $86.9M to $(-359.5)M, ending in a loss as the crypto cycle cooled. The middle of 2025 saw a sharp spike to about $1.43B in net income for Q2 and Q3, but earnings retraced in late 2025 and into 2026. Operating income swung from small losses in 2025 Q2 to gains in Q3/Q4 2025, then again to losses in 2026 Q2.

💰 Margins & Cash Flow

Margins are volatile: Q2 2025 operating margin ≈ -1.6%, Q3 2025 ≈ +32%, Q4 2025 ≈ +21%, Q1 2026 ≈ -1%, Q2 2026 ≈ -9%.
Net cash flow from operating activities was robust in late 2025 (Q3: +$328M; Q4: +$697M) and remained positive into 2026 Q1–Q2 (≈ +$197M), but total cash flow remained negative in 2026 due to investing and financing activity (2026 Q2 net cash flow = -$2.78B).

🛡️ Balance Sheet & Liquidity

Assets generally sit in the $21–31B range with liabilities around $11–16B and equity around $12–15B.
Current assets exceed current liabilities in most periods, indicating solid short-term liquidity and resilience to volatility.

⚠️ Key Drivers & Risks

Drivers: Crypto trading volumes on the Coinbase platform; continued product expansion and user growth.
Risks: Crypto price volatility and regulatory changes; valuation sensitivity to crypto cycles and funding needs.