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 $52.3B against $27.9B — 1.9× the size. Coinbase Global, Inc. has negative trailing earnings, so its P/E is not meaningful; Cboe Global Markets, Inc. trades at 20.0×. 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 21 metrics below, Cboe Global Markets, Inc. leads on 18 and Coinbase Global, Inc. on 3.

Valuation

Metric CBOE COIN Financial Data & Stock Exchanges median
P/E 20.05 n/m 21.77
P/S 5.34 8.18 7.79
P/B 4.80 3.93 3.85
Price to free cash flow 14.40 47.08 18.75
EV/EBITDA 13.56 60.84 15.55
EV/Sales 5.15 8.45 6.94
Earnings yield 4.99% (1.89%) 4.49%
Free cash flow yield 6.94% 2.12% 4.68%

Profitability

Metric CBOE COIN Financial Data & Stock Exchanges median
Gross margin 54.08% 86.35% 70.90%
Operating margin 34.69% 9.86% 29.55%
Net margin 26.62% (15.72%) 23.21%
Free cash flow margin 37.04% 22.97% 29.05%
Return on equity 26.19% (7.85%) 15.34%
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%) —
Revenue growth, 5-year CAGR 6.59% (1.74%) 7.76%
Net income growth, 5-year CAGR 18.58% (19.04%) 9.78%

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 1.08

Dividend

Metric CBOE COIN Financial Data & Stock Exchanges median
Dividend yield 1.27% — 1.16%
Payout ratio 0.33 0.00 0.42

Size

Metric CBOE COIN Financial Data & Stock Exchanges median
Market cap 27.94b 52.33b 27.94b

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