Stock fact sheet · data as of
Coinbase Global, Inc. (COIN): fair value, margin of safety and Wheel Score
Ticker symbol COIN · Financial Services · Financial - Data & Stock Exchanges · United States · Class A common stock · Speculative
COIN is Coinbase Global, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is COIN undervalued?
COIN closed at 151.50 on 5 Nov 2026 against a GLS average fair value of 148.21 - 2.2% above fair value, which our scans read as "fairly priced". 1 of 2 models are above the current price. There is no discount to lean on here, so the margin of safety is not the reason to look at the stock.
The average is built from just 2 models (DCF, 10 Cap) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files COIN under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for COIN
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 21.22 | -86% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 275.20 | +82% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | 20.81 | -86% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 203.04 | +34% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Coinbase Global, Inc. scores only 4 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. On durability COIN scores 5.9/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are moderate - ROIC 5.6%, ROE 8.5%, ROA 4.2% - with debt at 0.53 times equity and a free-cash-flow yield of 9.6%.
Coinbase Global, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Bank Servicing, Consumer, Net 39%, Subscription and Circulation, Stablecoin 27%, Subscription and Circulation, Other 10% (quarter Q3 FY2026).
Institutional ownership scores 7/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded Congressional buy was on 11 Sep 2026.
| Piotroski F-score | 4 / 9 | ROIC | 5.6% |
|---|---|---|---|
| GLS Moat | 5.9 / 10 | ROE | 8.5% |
| Debt / equity | 0.53 | ROA | 4.2% |
| Free-cash-flow yield | 9.6% | Payout ratio | 0% |
| Institutions | 7 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 33: Weak
With a Wheel Score of 33 Coinbase Global, Inc. sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades 2% above our fair value; and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 6, no serious red flags - Red Flags score 50 (under 60); Value (weak) is its weakest part.
Implied volatility is 65% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. The option chain is deep: 417,880 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 9.0M shares a day on a market cap of $40.1B, with a beta of 3.35 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades 2% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Fails | Red Flags score 50 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 2% above fair value | |
| Premium | Strong | implied volatility 65% | |
| Moat | Fair | moat 5.9/10 | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Weak | Red Flags score 50/100 | |
| Option trading | Strong | 89,351 contracts a day, 417,880 open interest | |
| Stability | Fair | beta 3.35, $40.1B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for COIN in the nightly calendar.
Analysts downgraded COIN 1 time in the last 30 days with no upgrades; the latest action was a downgrade by Morgan Stanley on 2 Nov 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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|---|---|---|---|---|---|
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| MCO Moody's Corporation | 528.34 | 363.95 | -45% | 41Weak | $91.1B |
| ICE Intercontinental Exchange, Inc. | 174.92 | 156.07 | -12% | 41Weak | $97.8B |
| TRU TransUnion | 82.13 | 92.99 | +12% | 78Good | $15.7B |
| CME CME Group Inc. | 308.27 | 224.77 | -37% | 40Weak | $110.3B |
| FDS FactSet Research Systems Inc. | 342.19 | 283.81 | -21% | 44Weak | $12.1B |
| SPGI S&P Global Inc. | 481.69 | 308.18 | -56% | 45Weak | $139.6B |
| MORN Morningstar, Inc. | 244.25 | 295.15 | +17% | 50Fair | $9.1B |
| OTCM OTC Markets Group Inc. | 52.45 | 47.22 | -11% | 25No options | $629M |
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Start free See the Sunday ScanQuestions about COIN
What kind of share is COIN?
COIN is Coinbase Global, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is COIN undervalued right now?
Not meaningfully: at 151.50 the stock trades within a few percent of the GLS average fair value of 148.21 (2.2% above fair value, data as of 5 Nov 2026).
What is the Wheel Score of COIN and what does it mean?
COIN scores 33 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 6. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for COIN?
148.21 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Coinbase Global, Inc. report earnings next?
No upcoming earnings date is recorded for COIN in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does COIN have listed options, and how liquid are they?
Yes. The nightly snapshot found 524 listed contracts with 417,880 open interest across all expiries and implied volatility of 65% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.