COIN
Coinbase Global, Inc.
There isn't enough reported data to score COIN yet.
IBCP
Independent Bank Corporation
IBCP's fundamentals are mixed, but it looks expensive: trading at 11x earnings, above its usual 8.5x. Analysts expect earnings growth.
COIN Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Under pressure | |
| N/A | |
| N/A |
COIN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like COIN.
IBCP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
IBCP's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like IBCP.
COIN PE Valuation
COIN has no meaningful PE right now: it lost money over the past year.
IBCP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $23.36 | -36% |
| Fair | 8.4x | $28.55 | -22% |
| Forward | 9.4x | $36.58 | — |
| Expensive | 11x | $36.35 | -0.6% |
| Current | 11x | $36.58 | — |
Historical ranges are pointers, not guarantees.
IBCP's PE is in its expensive range at 11x. If earnings grow as analysts expect, today's price would be 9.4x next year's earnings, in its fair range.
COIN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect COIN's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
IBCP Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for IBCP, with profitability holding steady.
COIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.36 | — |
| Q3 2026 | -$2.77 | -124% |
| Q2 2026 | -$3.78 | -137% |
| Q1 2026 | $2.72 | -49% |
| Q4 2025 | $4.45 | -53% |
| Q3 2025 | $11.54 | +94% |
| Q2 2025 | $10.32 | +82% |
| Q1 2025 | $5.32 | +4.1% |
| Q4 2024 | $9.48 | +2462% |
COIN has swung to a loss: it lost $2.77 per share over the past year, after a profit the year before.
IBCP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.88 | +14% |
| Q3 2026 | $3.40 | +4.3% |
| Q2 2026 | $3.44 | +12% |
| Q1 2026 | $3.35 | +6.7% |
| Q4 2025 | $3.28 | +3.8% |
| Q3 2025 | $3.26 | +11% |
| Q2 2025 | $3.07 | -1.6% |
| Q1 2025 | $3.14 | +6.8% |
| Q4 2024 | $3.16 | +13% |
IBCP has the edge over COIN on earnings quality, reporting a profit while its opponent remains loss making.
COIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | -35% |
| Q2 2026 | $1.2B | -19% |
| Q1 2026 | $1.4B | -31% |
| Q4 2025 | $1.8B | -22% |
| Q3 2025 | $1.9B | +55% |
| Q2 2025 | $1.5B | +3.3% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +138% |
COIN's revenue has slid since its 2021 peak: $1.2B last quarter, down 35% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.1% | -21 points |
| Q2 2026 | -9.3% | -7.7 points |
| Q1 2026 | -1.5% | -36 points |
| Q4 2025 | 15% | -30 points |
| Q3 2025 | 26% | +12 points |
| Q2 2025 | -1.6% | -25 points |
| Q1 2025 | 35% | -12 points |
| Q4 2024 | 46% | +33 points |
COIN's operating margin was 5.1% last quarter, down 21 points from the same quarter a year ago.
IBCP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $71.1M | +24% |
| Q2 2026 | $63.2M | +13% |
| Q1 2026 | $58.9M | +8.9% |
| Q4 2025 | $58.3M | -5.9% |
| Q3 2025 | $57.3M | +12% |
| Q2 2025 | $55.9M | -1% |
| Q1 2025 | $54.1M | +2.6% |
| Q4 2024 | $62M | +26% |
IBCP has the edge over COIN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -6.7 points |
| Q2 2026 | 36% | -1.1 points |
| Q1 2026 | 34% | -1 points |
| Q4 2025 | 35% | -1.9 points |
| Q3 2025 | 37% | +3.3 points |
| Q2 2025 | 37% | -4 points |
| Q1 2025 | 35% | -2.2 points |
| Q4 2024 | 37% | +0.3 points |
IBCP has the edge over COIN on profitability, with a higher operating margin.
COIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $405.5M | +$1.2B |
| Q2 2026 | $197.3M | -40% |
| Q1 2026 | $182.7M | +$365.5M |
| Q4 2025 | $3.1B | +218% |
| Q3 2025 | -$784.5M | -213% |
| Q2 2025 | $328.5M | -32% |
| Q1 2025 | -$182.7M | -144% |
| Q4 2024 | $964.6M | +$969.8M |
COIN's free cash flow was $3.9B over the past year, more than ten times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like COIN.
IBCP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $22.1M | +34% |
| Q2 2026 | $16.7M | +0.2% |
| Q1 2026 | -$13.8M | -145% |
| Q4 2025 | $6.4M | -49% |
| Q3 2025 | $16.5M | +5.3% |
| Q2 2025 | $16.7M | +139% |
| Q1 2025 | $30.6M | +52% |
| Q4 2024 | $12.4M | -19% |
IBCP has the edge over COIN on cash flow, with more consistent year-over-year improvement.
COIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.3% | +24.6M shares |
| 1 year | -1.4% | -4M shares |
| 3 years | +21% | +50.7M shares |
| 5 years | +15% | +37.4M shares |
| Available history | +330% | +221M shares |
COIN has the edge over IBCP on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5.3M |
| Q2 2026 | $181.3M |
| Q1 2026 | $1.1B |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | $10.5M |
IBCP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.4% | +1.5M shares |
| 1 year | +7.9% | +1.6M shares |
| 3 years | +6.8% | +1.4M shares |
| 5 years | +3.9% | +831K shares |
| Available history | -2.4% | -547K shares |
IBCP has 22M diluted shares, up 7.9% from a year ago, despite $9M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4.2M |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $4.7M |
| Q3 2025 | $413,000 |
| Q2 2025 | $7.3M |
| Q1 2025 | $33,000 |
| Q4 2024 | — |
IBCP spent $9M buying back its own shares over the past year, up 13% from the year before.
COIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.4x | Net Cash |
| Q2 2026 | -2.5x | Net Cash |
| Q1 2026 | -2.8x | Net Cash |
| Q4 2025 | -2.3x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -1.6x | Net Cash |
| Q1 2025 | -1.6x | Net Cash |
| Q4 2024 | -1.8x | Net Cash |
COIN has the edge over IBCP on leverage, with a lower net debt burden relative to earnings.
IBCP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.9x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -1.6x | Net Cash |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | -2.2x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | 0.1x | Very low |
IBCP has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like IBCP.
COIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.3 | Neutral |
| Stochastic | 5.0 | Oversold |
COIN's weekly RSI is 35 (neutral) and its Stochastic is 5 (oversold).
IBCP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.3 | Neutral |
| Stochastic | 43.7 | Neutral |
IBCP's weekly RSI is 53 (neutral) and its Stochastic is 44 (neutral).
COIN PE vs Financial Services Sector
| Metric | COIN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
COIN has no meaningful PE right now: it lost money over the past year.
IBCP PE vs Financial Services Sector
| Metric | IBCP | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 17% below |
| PE % | 85 | 63 | 22 pts above |
IBCP is trading at 11x earnings, a 17% discount to the Financial Services sector's median of 13x.
COIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $163.0 | 20% below |
| 20 week MA | $165.6 | 21% below |
| 50 week MA | $184.4 | 29% below |
| 100 week MA | $232.8 | 44% below |
| 200 week MA | $190.3 | 31% below |
COIN is in a downtrend: it's below all five of its weekly moving averages, and 31% below its 200-week average.
IBCP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.2 | 1% above |
| 20 week MA | $36.7 | 0.4% below |
| 50 week MA | $35.3 | 3.8% above |
| 100 week MA | $33.7 | 8.5% above |
| 200 week MA | $29.1 | 26% above |
IBCP has the edge over COIN on trend strength, trading above more of its moving averages.
COIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $342.0 | $268.2 | -22% |
| 2022 | $268.2 | $35.5 | -87% |
| 2023 | $35.5 | $173.9 | +390% |
| 2024 | $173.9 | $265.7 | +53% |
| 2025 | $265.7 | $236.9 | -11% |
| 2026 YTD | $236.9 | $130.7 | -45% |
COIN's yearly returns have swung widely, from +390% in 2023 to −87% in 2022. It's down 45% so far in 2026.
IBCP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.6 | $18.6 | -18% |
| 2021 | $18.6 | $23.3 | +25% |
| 2022 | $23.3 | $24.2 | +4% |
| 2023 | $24.2 | $26.0 | +7.4% |
| 2024 | $26.0 | $34.7 | +33% |
| 2025 | $34.7 | $33.1 | -4.5% |
| 2026 YTD | $33.1 | $36.6 | +10% |
IBCP has the edge over COIN on returns for 2026, with the stronger performance.