What is the 13F Pro Quality Score for COIN?

13F Pro ranks Coinbase Global, Inc. (COIN) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View COIN's current score at https://13fpro.ai/research/COIN (free sign-up required for the full ranking).

Where does 13F Pro source COIN data?

All Coinbase Global, Inc. fundamentals and ownership data come directly from SEC EDGAR. Coinbase Global, Inc. files with the SEC under CIK 1679788. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is COIN in?

Coinbase Global, Inc. (COIN) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives COIN's revenue?

Per Coinbase Global, Inc.'s latest 10-Q filed with the SEC on 2026-05-07, the biggest revenue drivers are: Transaction revenue ($755.8M, -40% YoY); Subscription and services revenue ($583.5M, -14% YoY); Other revenue ($73.6M, -24% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/COIN.

What are COIN's largest expenses?

Coinbase Global, Inc.'s latest 10-Q reports these as the largest expense items: Technology and development ($525.6M, +48% YoY); General and administrative ($376.1M, -5% YoY); Sales and marketing ($266.7M, +8% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is COIN research updated on 13F Pro?

COIN's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Coinbase Global, Inc.(COIN)Stock Analysis

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13F Pro Quality Score

68.0/100

Rank #434 of 2,879 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

89.0/100

Profitability

82.4/100

Balance Sheet

70.9/100

Earnings Quality

71.8/100

Free Cash Flow

21.7/100

Institutional Flow

62.6/100

Revenue Scale

82.4/100

Dilution Risk

15.3/100

COIN Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Coinbase Global, Inc. (COIN), a Financials sector company. 13F Pro's AI-powered ranking engine scores COIN at 68.0/100 on a 32-signal composite quality model, placing it at rank #434 of 2,879 stocks — the top 25% of the AI-ranked universe. COIN scores in the top quartile across revenue growth (89.0), profitability (82.4), revenue scale (82.4). Areas of concern include free cash flow (21.7), which score below median versus the broader universe. Shareholder dilution risk is elevated at 15.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Coinbase Global, Inc. reports quarterly revenue of $1.4B, net income of $-394.1M, free cash flow of $182.7M. Top institutional holders of COIN by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, SUSQUEHANNA INTERNATIONAL GROUP, LLP, based on the most recent SEC filings. COIN trades on the Nasdaq exchange and files with the SEC under CIK 1679788. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate COIN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Coinbase Global, Inc. directly from SEC EDGAR. Coinbase Global, Inc.'s 13F Pro composite quality score has ranged between 8 and 91 since 2022, currently 68.0 — a declining long-term trajectory across 52 quarterly and live scoring snapshots.

✦

Fun facts about Coinbase Global, Inc.

Quirks, history, and lore behind COIN — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · large-cap · listed on Nasdaq · headquartered in San Francisco.
2
The Numbers
Revenue swings wildly year to year — it can swing from a $3 billion profit to a billion-dollar loss depending on one very volatile market.
3
The History
Founded in 2012 by a former Airbnb engineer, it went public in April 2021 via a direct listing that briefly valued it at over $85 billion.
4
The Secret
It doesn't make loans or hold your savings — it makes most of its money from transaction fees every time someone buys or sells a digital asset.
5
The Lore
It ran a Super Bowl ad that was literally just a bouncing QR code for 60 seconds — it crashed their app and became one of the most talked-about commercials of 2022.
6
The Giveaway
The largest U.S. cryptocurrency exchange, it's the place millions of Americans went to buy their first Bitcoin or Ethereum — and the company whose fortunes rise and fall with every crypto boom and bust.

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What's Driving COIN's Business? Latest 10-Q Breakdown

✓ 40/40 datapoints verified

AI-extracted from Coinbase Global, Inc.'s 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Coinbase's net revenue fell 31% YoY to $1.34B amid softer crypto markets, though derivatives and stablecoin revenue grew; net loss of $394M driven by $482M crypto investment losses.

Biggest Revenue Drivers

Total revenue: $1.41B-31% YoY

Transaction revenue$755.8M-40% YoY

Consumer transaction revenue down 48% from lower trading volume; institutional revenue up 37% from derivatives trading following Deribit acquisition.

Subscription and services revenue$583.5M-14% YoY

Stablecoin revenue grew 11% from higher USDC balances; blockchain rewards fell 49% from lower crypto asset prices; interest income up 7%.

Other revenue$73.6M-24% YoY

Corporate interest and other income declined from 81 basis point drop in average interest rates earned.

Largest Expense Items

Technology and development$525.6M+48% YoY

Employee-related expenses up 50% from 23% higher average headcount and acquisition-related compensation.

General and administrative$376.1M-5% YoY

Customer support costs down 53% from lower trading volume and completion of regulatory projects, offset by higher employee-related expenses.

Sales and marketing$266.7M+8% YoY

USDC rewards increased $58.9M from higher customer balances; digital advertising spend down $43.9M; offline advertising up for Super Bowl commercial.

Transaction expense$195.9M-35% YoY

Blockchain rewards fees declined 47%; transaction rebates and commissions down 51% from reduced incentive offerings.

Margins: Operating margin deteriorated significantly with a $21M operating loss versus $706M income in prior year, driven by 31% revenue decline and 48% increase in technology spending. Adjusted EBITDA fell 67% to $303M, reflecting challenging market conditions offsetting cost discipline.

Watch Items from the Filing

Single counterparty represented 23% of total Q1 2026 revenue (versus 15% in Q1 2025), indicating material customer concentration risk.
Monthly Transacting Users (MTUs) declined 15% YoY to 8.2M, driven by lower trading activity and softer market conditions.
Assets on Platform decreased 10% YoY to $294B despite USDC reaching all-time highs; Bitcoin and XRP holdings declined due to price weakness.
Company announced May 5, 2026 restructuring plan to reduce workforce by ~700 employees with $50–60M in severance costs, expecting completion in Q2 2026.
Pending state securities litigation over staking services in multiple states remains uncertain; adverse outcome could materially impact business.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.4B

Net Income

Q1 2026

$-394.1M

Free Cash Flow

Q1 2026

$182.7M

ROIC

Q1 2026

-0.1%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+9.4% YoY

$7.18BFY 2025

FY22 $3.19BFY23 $3.11BFY24 $6.56BFY25 $7.18B

Net Income

-51.5% YoY

$1.26BFY 2025

FY22 $-2.62BFY23 $94.9MFY24 $2.60BFY25 $1.26B

Operating Income

-37.8% YoY

$1.44BFY 2025

FY22 $-2.71BFY23 $-161.7MFY24 $2.31BFY25 $1.44B

EPS (Diluted)

-53.1% YoY

$4.45FY 2025

FY22 $-11.83FY23 $0.37FY24 $9.48FY25 $4.45

Total Assets

+31.6% YoY

$29.67BFY 2025

FY22 $89.72BFY23 $206.98BFY24 $22.54BFY25 $29.67B

Total Debt

+93.6% YoY

$8.92BFY 2025

FY22 $3.41BFY23 $2.98BFY24 $4.61BFY25 $8.92B

Op. Cash Flow

-21.8% YoY

$2.43BFY 2025

FY22 $-1.59BFY23 $673.4MFY24 $3.10BFY25 $2.43B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2019	FY 2018
Revenue	$7.18B +9.4%	$6.56B +111.2%	$3.11B -2.7%	$3.19B +498.5%	$533.7M	—
Net Income	$1.26B -51.5%	$2.60B +2640.6%	$94.9M +103.6%	$-2.62B -8538.4%	$-30.4M	—
Operating Income	$1.44B -37.8%	$2.31B +1527.2%	$-161.7M +94.0%	$-2.71B -5819.7%	$-45.8M	—
EPS (Diluted)	$4.45 -53.1%	$9.48 +2462.2%	$0.37 +103.1%	$-11.83 -2266.0%	$-0.50	—
Total Assets	$29.67B +31.6%	$22.54B -89.1%	$206.98B +130.7%	$89.72B	—	—
Total Debt	$8.92B +93.6%	$4.61B +54.6%	$2.98B -12.7%	$3.41B	—	—
Operating Cash Flow	$2.43B -21.8%	$3.10B +361.0%	$673.4M +142.5%	$-1.59B -1867.2%	$-80.6M	—

AI Insight: COIN Ratio Trends

Coinbase's profitability has collapsed to negative margins in Q1 2026, reversing the strength seen in late 2024 and erasing year-over-year returns.

• Operating margin fell to -1.5% in Q1 2026 from 25.7% in Q3 2025; net margin turned -27.9% versus +23.2% prior quarter.

• ROIC contracted to -0.4% in Q1 2026 from +7.8% in Q3 2025, wiping out capital efficiency gains built through late 2024.

• Leverage rose to 0.67 D/E in Q1 2026 from 0.41 in Q1 2025, highest ratio in the trailing dataset.

⚠ Volatility in NPM (ranging +95.4% to -37.4% over four quarters) suggests lumpy, unpredictable earnings tied to crypto market cycles.

⚠ ROA swung from +24.3% in Q2 2025 to -5.5% in Q1 2026, indicating sharp operational or one-off losses in latest quarter.

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Available Research

13F Pro tracks comprehensive data for Coinbase Global, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of COIN

BlackRock, Inc.
$2.9B16,745,406 sh
VANGUARD CAPITAL MANAGEMENT LLC
$2.5B14,130,021 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$1.8B10,144,500 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$1.7B9,488,390 sh
STATE STREET CORP
$1.6B9,360,220 sh
JANE STREET GROUP, LLC
$1.4B8,241,100 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$1.4B7,888,800 sh
JANE STREET GROUP, LLC
$1.2B6,623,900 sh
GEODE CAPITAL MANAGEMENT, LLC
$1.1B6,130,020 sh
CITADEL ADVISORS LLC
$908.8M5,204,800 sh

Fund	Value	Shares
BlackRock, Inc.	$2.9B	16,745,406
VANGUARD CAPITAL MANAGEMENT LLC	$2.5B	14,130,021
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$1.8B	10,144,500
VANGUARD PORTFOLIO MANAGEMENT LLC	$1.7B	9,488,390
STATE STREET CORP	$1.6B	9,360,220
JANE STREET GROUP, LLC	$1.4B	8,241,100
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$1.4B	7,888,800
JANE STREET GROUP, LLC	$1.2B	6,623,900
GEODE CAPITAL MANAGEMENT, LLC	$1.1B	6,130,020
CITADEL ADVISORS LLC	$908.8M	5,204,800

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Is COIN a good stock to buy?

13F Pro's AI-powered analysis of Coinbase Global, Inc. (COIN) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for COIN are available on the COIN stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own COIN?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling COIN. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Coinbase Global, Inc.'s investment landscape.