Coinbase (COIN)
NASDAQFinancialsFinancial - Data & Stock ExchangesSnapshot 2026-09-04
$184.64-4.18%
Close 2026-09-04 · 1-day change
NASDAQFinancialsFinancial - Data & Stock ExchangesSnapshot 2026-09-04
QuarterlyIQ Insights · COIN
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within financials on a research-validated quality screen. As of 2026-09-04.
The screen ranks COIN against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 0 of the last 3 quarter-over-quarter moves. Historically, Financials names rated weak grew net income 57% of the time over the next year (vs 60% for the rest of the cohort, n=7680).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue expanding the platform to trade all asset classes including crypto, equities, derivatives, prediction markets, commodities, and FX with deep liquidity and capital efficiency.
Stated as a priority in 4 of last 4 quarters. Management emphasized growing the Everything Exchange platform to include crypto, equities, derivatives, prediction markets, and more. Derivatives trading volume grew 169% year-over-year through 2026-Q2, and prediction markets reached $100M+ annualized revenue in early 2026. The trajectory shows delivering progress with expanding product offerings and revenue diversification.
“Our mission is to increase economic freedom in the world... Everything Exchange: New asset classes showing signs of success”
“We have three top priorities for this year. First, continuing to grow the Everything Exchange: one platform for all tradable assets including crypto, derivatives, equities, prediction markets, and mo…”
“We have three top priorities for this year. First, continuing to grow the Everything Exchange: one platform for all tradable assets including crypto, derivatives, equities, prediction markets, and mo…”
“We laid out our vision of an Everything Exchange last quarter, and made progress in Q3 by increasing the number of tradable spot assets, expanding our derivatives offerings, and continuing to lay the…”
Accelerate adoption of stablecoins like USDC and expand payments infrastructure with deeper product integrations and tools for developers and businesses.
Stated as a priority in 4 of last 4 quarters. Management consistently emphasized scaling stablecoins and payments infrastructure, notably USDC adoption. Average USDC held in Coinbase products grew from $12.3B in 2025-Q1 to $15B in 2025-Q3, and USDC market cap reached $80B in 2025-Q4. The trajectory shows delivering growth in stablecoin adoption and integration.
Drive adoption of onchain finance by scaling DeFi integrations, expanding the Base app ecosystem, and increasing transactions on Base Chain.
Stated as a priority in 4 of last 4 quarters. Management emphasized bringing the world onchain via DeFi integrations and scaling the Base app. DEX trading volume doubled quarter-over-quarter in 2026-Q2, while average borrow/lend balances declined 53% year-over-year in the same quarter. The trajectory shows mixed delivery with strong DEX growth but declining lending balances.
Manage operating expenses and optimize operations by reducing workforce by approximately 14% and improving efficiency for AI-driven growth.
Stated as a priority in 2 of last 2 quarters. Management announced a workforce reduction of approximately 700 employees (14% of global workforce) in 2026-Q2 to optimize operations for the AI era. Operating income declined sharply from $273.8M in 2025-Q4 to -$21.4M in 2026-Q1, indicating operational challenges. The trajectory shows limited progress with restructuring underway but operating income declining.
Reduce and narrow the 2026 adjusted expenses guidance range to maintain cost discipline amid market conditions.
Newly stated in 2026-Q2. Management announced reducing and narrowing the 2026 adjusted expenses guidance range to $4.34B - $4.6B. This reflects a focus on cost discipline amid market conditions. No prior quarters stated this priority, so trajectory is newly established.
“We are reducing and narrowing our 2026 Adjusted Expenses guidance range.”
Over the trailing year it converted 0.14x of net income into operating cash flow. Historically, Financials names rated fragile grew net income 52% of the time over the next year (vs 61% for the rest of the cohort, n=6844).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
13 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Financials names rated neutral grew net income 56% of the time over the next year (vs 58% for the rest of the cohort, n=3751).
Not investment advice. As of 2026-09-04.
“Stablecoins & Payments: Coinbase is accelerating adoption via USDC and Base”
“We have three top priorities for this year. Second, scaling stablecoins and payments infrastructure with deeper product integrations and tools for developers and businesses.”
“We have three top priorities for this year. Second, scaling stablecoins and payments infrastructure with deeper product integrations and tools for developers and businesses.”
“We are accelerating payments through stablecoin adoption, which we anticipate will continue given policy tailwinds, and ongoing adoption from financial institutions and corporates for payment and tre…”
“Onchain: DeFi integrations are driving real-world utility with 2x Q/Q growth in DEX Trading Volume and $1B+ Y/Y growth in Borrow/Lend balances.”
“We have three top priorities for this year. Third, bringing the world onchain through DeFi integrations, scaling the Base App, and driving transactions on Base Chain.”
“We have three top priorities for this year. Third, bringing the world onchain through DeFi integrations, scaling the Base App, and driving transactions on Base Chain.”
“Base remains the #1 L2, and its speed, scalability, and cost efficiency has made it the trusted network of choice for a growing number of enterprises and developers.”
“Announced a restructuring plan to manage operating expenses and optimize operations for the AI era, reducing workforce by approximately 14%.”
“Optimize operations for the AI era with workforce restructuring.”