Question 1

What is Coinbase's P/S ratio?

Accepted Answer

Coinbase (COIN) P/S ratio is 7.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Coinbase?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Coinbase specifically, the relevant sector benchmark is the current sector median of 2.3×.

Question 5

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

Accepted Answer

Coinbase's P/S ratio of 7.6× is below its own 5-year average of 8.1× and above the sector median of 2.3×. That places the current reading at the 39th 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/S ratio range?

Accepted Answer

In the available daily series, Coinbase (COIN) P/S ratio has ranged from a low of 1.4× in 2022 to a high of 94.8× in 2020. The 5-year average is 8.1× and the 5-year median is 8.0×.

Question 7

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

Accepted Answer

Coinbase (COIN) P/S ratio at the end of 2025 was 9.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$60.7B	$6.43B	9.4×	-0.1×	Dec 31, 2025
2024	$62.4B	$6.56B	9.5×	-3.9×	Dec 31, 2024
2023	$41.6B	$3.11B	13.4×	+10.9×	Dec 31, 2023
2022	$7.9B	$3.19B	2.5×	-3.8×	Dec 31, 2022
2021	$48.8B	$7.84B	6.2×	-43.3×	Dec 31, 2021
2020	$63.2B	$1.28B	49.5×	+8.8×	Dec 31, 2020
2019	$21.7B	$534M	40.7×	—	Dec 31, 2019


Citigroup (C)	1.5×
W. R. Berkley (WRB)	1.5×
American International Group (AIG)	1.5×
Capital One Financial (COF)	1.5×
Travelers Companies (TRV)	1.4×
Federal Agricultural Mortgage (AGM)	1.4×
Franklin Resources (BEN)	1.4×
Brookfield (BN)	1.3×
American Financial Group (AFG)	1.3×
Hartford Insurance Group (HIG)	1.3×
Markel (MKL)	1.3×
PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
PayPal (PYPL)	1.2×
Loews (L)	1.2×
AXIS Capital Holdings (AXS)	1.1×
Old Republic International (ORI)	1.0×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Everest Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×
Atlantic Union Bankshares (AUB)	0.0×

P/S Ratio for Coinbase (COIN) 2019-2026

P/S Ratio daily chart for Coinbase (COIN)

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

About P/S Ratio at Coinbase (COIN)

Coinbase P/S Ratio by Year

Coinbase P/S Ratio 2025: 9.4×

Coinbase P/S Ratio 2024: 9.5×

Coinbase P/S Ratio 2023: 13.4×

Coinbase P/S Ratio 2022: 2.5×

Coinbase P/S Ratio 2021: 6.2×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Coinbase (COIN) Key Financials