COIN
Coinbase Global, Inc.
There isn't enough reported data to score COIN yet.
MBWM
Mercantile Bank Corporation
MBWM's fundamentals are mixed, but it looks expensive: trading at 11x earnings, above its usual 9.2x. 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.
MBWM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MBWM's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MBWM.
COIN PE Valuation
COIN has no meaningful PE right now: it lost money over the past year.
MBWM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.3x | $41.04 | -33% |
| Fair | 9.2x | $51.59 | -16% |
| Expensive | 11x | $59.31 | -2.9% |
| Current | 11x | $61.11 | — |
| Forward | 11x | $61.11 | — |
Historical ranges are pointers, not guarantees.
MBWM's PE is in its expensive range at 10.9x. On analysts' estimates for next year's earnings, today's price would be 10.7x.
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.
MBWM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MBWM, but weaker profitability.
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.
MBWM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.72 | +1.7% |
| Q3 2026 | $5.62 | +6.8% |
| Q2 2026 | $5.69 | +13% |
| Q1 2026 | $5.58 | +16% |
| Q4 2025 | $5.47 | +11% |
| Q3 2025 | $5.26 | +5.6% |
| Q2 2025 | $5.02 | -0.8% |
| Q1 2025 | $4.80 | -7% |
| Q4 2024 | $4.93 | -3.9% |
MBWM 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.
MBWM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $73.2M | +17% |
| Q2 2026 | $68.8M | +13% |
| Q1 2026 | $67.6M | +18% |
| Q4 2025 | $62.1M | +6% |
| Q3 2025 | $62.4M | +7.6% |
| Q2 2025 | $60.9M | +7.4% |
| Q1 2025 | $57.3M | -1.7% |
| Q4 2024 | $58.5M | +2.8% |
MBWM has the edge over COIN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | -4.4 points |
| Q2 2026 | 45% | +2.8 points |
| Q1 2026 | 40% | -1.6 points |
| Q4 2025 | 42% | +2.3 points |
| Q3 2025 | 44% | +1.6 points |
| Q2 2025 | 43% | +1.2 points |
| Q1 2025 | 42% | -4.3 points |
| Q4 2024 | 40% | -4.6 points |
MBWM 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.
MBWM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $47.1M | +104% |
| Q2 2026 | $15.3M | +$23.1M |
| Q1 2026 | $28.3M | +$31.3M |
| Q4 2025 | $5.6M | -91% |
| Q3 2025 | $23.1M | +$31.2M |
| Q2 2025 | -$7.8M | -186% |
| Q1 2025 | -$3M | -107% |
| Q4 2024 | $59.9M | +$67.2M |
MBWM 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 MBWM 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 |
MBWM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +8K shares |
| 1 year | +6.4% | +1M shares |
| 3 years | +7.9% | +1.3M shares |
| 5 years | +9% | +1.4M shares |
| Available history | +5.3% | +877K shares |
MBWM has 17M diluted shares, up 6.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | $1.6M |
| Q3 2021 | $8.9M |
| Q2 2021 | $7.3M |
| Q1 2021 | $3.5M |
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 MBWM on leverage, with a lower net debt burden relative to earnings.
MBWM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -0.5x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.9x | Net Cash |
| Q1 2025 | -0.7x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
MBWM has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like MBWM.
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).
MBWM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.0 | Neutral |
| Stochastic | 55.7 | Neutral |
MBWM's weekly RSI is 60 (neutral) and its Stochastic is 56 (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.
MBWM PE vs Financial Services Sector
| Metric | MBWM | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 17% below |
| PE % | 87 | 63 | 24 pts above |
MBWM 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.
MBWM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $59.8 | 2.2% above |
| 20 week MA | $59.8 | 2.2% above |
| 50 week MA | $54.8 | 12% above |
| 100 week MA | $50.1 | 22% above |
| 200 week MA | $43.5 | 41% above |
MBWM 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.
MBWM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.7 | $27.2 | -26% |
| 2021 | $27.2 | $35.1 | +29% |
| 2022 | $35.1 | $33.8 | -3.7% |
| 2023 | $33.8 | $40.4 | +20% |
| 2024 | $40.4 | $44.8 | +11% |
| 2025 | $44.8 | $48.7 | +8.8% |
| 2026 YTD | $48.7 | $61.1 | +25% |
MBWM has the edge over COIN on returns for 2026, with the stronger performance.