COIN
Coinbase Global, Inc.
There isn't enough reported data to score COIN yet.
PFLT
PennantPark Floating Rate Capital Ltd.
PFLT's fundamentals are mixed, but it looks expensive: trading at 13x earnings, in line with its usual 13x. Analysts expect earnings to hold roughly steady.
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.
PFLT Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
PFLT's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like PFLT.
COIN PE Valuation
COIN has no meaningful PE right now: it lost money over the past year.
PFLT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.3x | $6.73 | — |
| Cheap | 7.8x | $3.97 | -41% |
| Fair | 13x | $6.55 | -2.6% |
| Current | 13x | $6.73 | — |
| Expensive | 36x | $18.38 | +173% |
Historical ranges are pointers, not guarantees.
PFLT's PE is in its fair range at 13x. On analysts' estimates for next year's earnings, today's price would be 6.3x, in its cheap range.
COIN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Moderate | |
| Low |
COIN has the edge over PFLT on the outlook, with more favorable earnings and profitability expectations.
PFLT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect PFLT's profitability to weaken, with its earnings and revenue 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.
PFLT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.06 | +109% |
| Q2 2026 | $0.51 | -41% |
| Q1 2026 | $0.62 | -33% |
| Q4 2025 | $0.35 | -75% |
| Q3 2025 | $0.73 | -50% |
| Q2 2023 | -$0.13 | -125% |
| Q1 2023 | -$0.35 | -134% |
| Q4 2022 | -$0.31 | -127% |
| Q3 2022 | $0.09 | -94% |
PFLT 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 has the stronger quarterly revenue trend. Revenue is down 35% for COIN versus down 131% for PFLT.
| 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.
PFLT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $3.2M | -85% |
| Q1 2022 | $18.7M | +8.1% |
| Q4 2021 | $23.5M | -27% |
| Q3 2021 | $13M | -45% |
| Q2 2021 | $21.1M | +3.9% |
| Q4 2020 | $32.3M | +76% |
| Q3 2020 | $23.6M | +62% |
PFLT's revenue has slid since its 2020 peak: −$4M last quarter, down 131% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | -157% | -227 points |
| Q1 2022 | 60% | -8.5 points |
| Q4 2021 | 68% | -13 points |
| Q3 2021 | 32% | -41 points |
| Q2 2021 | 70% | +7.9 points |
| Q1 2021 | 68% | N/A |
| Q4 2020 | 81% | +26 points |
| Q3 2020 | 72% | +22 points |
PFLT's operating margin was −157% last quarter, down 227 points from the same quarter a year ago, near the bottom of its range since 2019.
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 has the edge over PFLT on cash generation, producing positive trailing cash flow while its opponent burns cash.
PFLT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $103.3M | +$138.5M |
| Q1 2026 | $24.3M | +$142.4M |
| Q4 2025 | $148.6M | +$381.3M |
| Q3 2025 | -$334.5M | -$42.8M |
| Q2 2025 | -$35.3M | +$119.8M |
| Q1 2025 | -$118.1M | +$54.5M |
| Q4 2024 | -$232.7M | -$50.7M |
| Q3 2024 | -$291.7M | -488% |
PFLT's free cash flow was −$58M over the past year, against −$678M the year before. Free cash flow isn't a meaningful measure for financial services companies like PFLT.
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 PFLT 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 |
PFLT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | +69% | +40.5M shares |
| 5 years | +156% | +60.4M shares |
| Available history | +156% | +60.4M shares |
PFLT has 99M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
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 more cash than debt. Net leverage isn't a meaningful measure for financial services companies like COIN.
PFLT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 73.7x | High |
| Q2 2022 | 27.2x | High |
| Q1 2022 | 15.1x | High |
| Q4 2021 | 14.7x | High |
| Q3 2021 | 10.6x | High |
| Q2 2021 | 7.4x | High |
| Q1 2021 | 6.9x | High |
| Q4 2020 | 11.3x | High |
PFLT's net debt is more than 20 years of its operating earnings (EBITDA), up from 11 years a year ago. Net leverage isn't a meaningful measure for financial services companies like PFLT.
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).
PFLT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 45.6 | Neutral |
PFLT's weekly RSI is 38 (neutral) and its Stochastic is 46 (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.
PFLT PE vs Financial Services Sector
| Metric | PFLT | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 2.1% above |
| PE % | 55 | 63 | 8 pts below |
PFLT is trading at 13x earnings, in line with 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.
PFLT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.74 | 0.1% below |
| 20 week MA | $7.04 | 4.4% below |
| 50 week MA | $8.00 | 16% below |
| 100 week MA | $9.13 | 26% below |
| 200 week MA | $10.1 | 33% below |
PFLT is in a downtrend: it's below all five of its weekly moving averages, and 33% below its 200-week average.
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.
PFLT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.3 | $10.3 | -16% |
| 2021 | $10.3 | $12.6 | +23% |
| 2022 | $12.6 | $11.0 | -13% |
| 2023 | $11.0 | $12.1 | +10% |
| 2024 | $12.1 | $10.8 | -10% |
| 2025 | $10.8 | $9.15 | -16% |
| 2026 YTD | $9.15 | $6.73 | -26% |
PFLT has the edge over COIN on returns for 2026, with the stronger performance.