Cboe Global Markets, Inc. (CBOE) vs Coinbase Global, Inc. (COIN)

Cboe Global Markets, Inc. and Coinbase Global, Inc. are both Financial Data & Stock Exchanges companies. Coinbase Global, Inc. is the larger, with a market value of $48.5B against $32.2B — 1.5× the size. Coinbase Global, Inc. has negative trailing earnings, so its P/E is not meaningful; Cboe Global Markets, Inc. trades at 24.5×. Cboe Global Markets, Inc. grew revenue faster over the last twelve months: 11.7% against −10.4%. Cboe Global Markets, Inc. has the higher net margin (26.6% vs −15.7%) and the higher return on invested capital (23.5% vs 2.62%). Across the 19 metrics below, Cboe Global Markets, Inc. leads on 14 and Coinbase Global, Inc. on 5.

Valuation

Metric CBOE COIN Financial Data & Stock Exchanges median
P/E 24.50 n/m 23.59
P/S 6.52 7.26 6.89
P/B 5.87 3.49 4.00
Price to free cash flow 17.60 41.79 19.63
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.08% (2.13%) 4.04%
Free cash flow yield 5.68% 2.39% 4.39%

Profitability

Metric CBOE COIN Financial Data & Stock Exchanges median
Gross margin 54.08% 86.35% 70.90%
Operating margin 34.69% 9.86% 28.27%
Net margin 26.62% (15.72%) 22.52%
Free cash flow margin 37.04% 22.97% 28.57%
Return on equity 26.19% (7.85%) 15.12%
Return on assets 13.71% (3.96%) 6.82%
Return on invested capital 23.45% 2.62% 9.96%

Growth

Metric CBOE COIN Financial Data & Stock Exchanges median
Revenue growth (TTM) 11.68% (10.35%) 9.16%
EPS growth (last fiscal year) 44.52% (53.06%) 15.41%
Revenue growth, 5-year CAGR 6.59% 41.24% 8.62%
Net income growth, 5-year CAGR 18.58% 31.35% 10.27%

Health

Metric CBOE COIN Financial Data & Stock Exchanges median
Debt to equity 0.26 0.82 0.48
Current ratio 1.57 2.42 1.06
Net debt to EBITDA (0.49) 0.66 1.19

Dividend

Metric CBOE COIN Financial Data & Stock Exchanges median
Dividend yield 0.96% — 1.28%
Payout ratio 0.24 — 0.32

Size

Metric CBOE COIN Financial Data & Stock Exchanges median
Market cap 32.17b 48.50b 32.17b

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