Question 1

What is Coinbase's P/B ratio?

Accepted Answer

Coinbase (COIN) P/B ratio is 3.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Coinbase?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Coinbase specifically, the relevant sector benchmark is the current sector median of 1.7×.

Question 5

Is Coinbase's P/B ratio high or low?

Accepted Answer

Coinbase's P/B ratio of 3.0× is below its own 5-year average of 5.3× and above the sector median of 1.7×. That places the current reading at the 23th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Coinbase's historical P/B ratio range?

Accepted Answer

In the available daily series, Coinbase (COIN) P/B ratio has ranged from a low of 1.3× in 2022 to a high of 65.6× in 2020. The 5-year average is 5.3× and the 5-year median is 5.3×.

Question 7

What was Coinbase's P/B ratio in 2025?

Accepted Answer

Coinbase (COIN) P/B ratio at the end of 2025 was 4.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Coinbase's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$60.67B	$14.79B	4.1×	-2.0×	Dec 31, 2025
2024	$62.45B	$10.28B	6.1×	-0.5×	Dec 31, 2024
2023	$41.62B	$6.28B	6.6×	+5.2×	Dec 31, 2023
2022	$7.90B	$5.45B	1.4×	-6.2×	Dec 31, 2022
2021	$48.82B	$6.38B	7.7×	-58.0×	Dec 31, 2021
2020	$63.22B	$963.58M	65.6×	+45.2×	Dec 31, 2020
2019	$21.70B	$1.06B	20.4×	—	Dec 31, 2019


UMB Financial (UMBF)	1.1×
RenaissanceRe Holdings (RNR)	1.1×
KeyCorp (KEY)	1.1×
Southside Bancshares (SBSI)	1.1×
Prudential Financial (PRU)	1.1×
United Bankshares (UBSI)	1.1×
Alerus Financial (ALRS)	1.0×
Capital One Financial (COF)	1.0×
Franklin Resources (BEN)	1.0×
Atlantic Union Bankshares (AUB)	1.0×
American International Group (AIG)	1.0×
Eagle Financial Services (EFSI)	1.0×
Everest Re Group (RE)	1.0×
Citizens Financial Group (CFG)	1.0×
Citigroup (C)	0.9×
Ares Capital (ARCC)	0.9×
Huntington Bancshares (HBAN)	0.9×
Auburn National Bancorporation (AUBN)	0.9×
Invesco (IVZ)	0.9×
Truist Financial (TFC)	0.9×
Everest Re Group (EG)	0.9×
PSB Holdings (PSBQ)	0.8×
Ally Financial (ALLY)	0.8×
Global Payments (GPN)	0.7×
Assured Guaranty (AGO)	0.7×

P/B Ratio for Coinbase (COIN)

P/B Ratio daily chart for Coinbase (COIN)

Historical P/B Ratio for Coinbase (COIN) from 2019 to 2025

About P/B Ratio at Coinbase (COIN)

Coinbase P/B Ratio by Year

Coinbase P/B Ratio 2025: 4.1×

Coinbase P/B Ratio 2024: 6.1×

Coinbase P/B Ratio 2023: 6.6×

Coinbase P/B Ratio 2022: 1.4×

Coinbase P/B Ratio 2021: 7.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Coinbase (COIN) Key Financials

P/B Ratio daily chart for Coinbase (COIN)

Historical P/B Ratio for Coinbase (COIN) from 2019 to 2025

About P/B Ratio at Coinbase (COIN)

Coinbase P/B Ratio by Year

Coinbase P/B Ratio 2025: 4.1×

Coinbase P/B Ratio 2024: 6.1×

Coinbase P/B Ratio 2023: 6.6×

Coinbase P/B Ratio 2022: 1.4×

Coinbase P/B Ratio 2021: 7.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Coinbase's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Coinbase?

+Is Coinbase's P/B ratio high or low?

+What is Coinbase's historical P/B ratio range?

+What was Coinbase's P/B ratio in 2025?

+Why does Coinbase's P/B ratio change over time?

Coinbase (COIN) Key Financials