American Bitcoin Corp. (ABTC) vs CoinShares PLC (CSHR)

American Bitcoin Corp. and CoinShares PLC are both Capital Markets companies. American Bitcoin Corp. and CoinShares PLC are of similar size ($769.7M and $712.0M). American Bitcoin Corp. has negative trailing earnings, so its P/E is not meaningful; CoinShares PLC trades at 7.3×. CoinShares PLC has the higher net margin (0.00% vs −71.8%) and the higher return on invested capital (0.00% vs −27.7%). Across the 11 metrics below, CoinShares PLC leads on 8 and American Bitcoin Corp. on 3.

Valuation

Metric ABTC CSHR Capital Markets median
P/E n/m 7.32 15.78
P/S 2.39 n/m 2.32
P/B 0.97 n/m 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales 2.37 n/m 2.28
Earnings yield (32.87%) 13.65% (3.77%)
Free cash flow yield (87.67%) (3.07%) (1.49%)

Profitability

Metric ABTC CSHR Capital Markets median
Gross margin 52.66% — 62.80%
Operating margin (106.64%) 0.00% 0.00%
Net margin (71.75%) 0.00% (0.55%)
Free cash flow margin (209.92%) 0.00% 0.00%
Return on equity (58.97%) (103.66%) 0.00%
Return on assets (29.63%) 4.73% 0.00%
Return on invested capital (27.70%) 0.00% 0.00%

Growth

Metric ABTC CSHR Capital Markets median
Revenue growth (TTM) 168.57% — 21.02%
EPS growth (last fiscal year) 93.33% 147.36% —
Revenue growth, 5-year CAGR 60.06% — 18.16%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric ABTC CSHR Capital Markets median
Debt to equity 0.00 0.00 0.08
Current ratio 0.19 0.18 1.51
Net debt to EBITDA 0.02 0.02 (0.24)

Dividend

Metric ABTC CSHR Capital Markets median
Dividend yield — — 2.20%
Payout ratio 0.00 — 0.00

Size

Metric ABTC CSHR Capital Markets median
Market cap 712.02m 769.71m 724.58m

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