Coinbase Global, Inc. (COIN) vs MSCI Inc (MSCI)

Coinbase Global, Inc. and MSCI Inc are both Financial Data & Stock Exchanges companies. MSCI Inc is the larger, with a market value of $46.9B against $36.2B — 1.3× the size. Coinbase Global, Inc. has negative trailing earnings, so its P/E is not meaningful; MSCI Inc trades at 34.8×. MSCI Inc grew revenue faster over the last twelve months: 12.3% against −26.6%. MSCI Inc has the higher net margin (40.3% vs −12.5%) and the higher return on invested capital (34.7% vs 0.77%). Across the 18 metrics below, MSCI Inc leads on 11 and Coinbase Global, Inc. on 7.

Valuation

Metric COIN MSCI Financial Data & Stock Exchanges median
P/E n/m 34.79 24.85
P/S 6.51 13.83 6.75
P/B 2.63 n/m 4.56
Price to free cash flow 46.46 32.64 20.23
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (1.89%) 2.87% 4.00%
Free cash flow yield 2.15% 3.06% 4.59%

Profitability

Metric COIN MSCI Financial Data & Stock Exchanges median
Gross margin 85.81% 82.89% 72.83%
Operating margin 3.56% 55.65% 29.06%
Net margin (12.46%) 40.31% 25.36%
Free cash flow margin 20.25% 42.38% 32.14%
Return on equity (4.68%) (56.11%) 17.00%
Return on assets (2.39%) 25.19% 8.22%
Return on invested capital 0.77% 34.71% 10.55%

Growth

Metric COIN MSCI Financial Data & Stock Exchanges median
Revenue growth (TTM) (26.62%) 12.34% 10.44%
EPS growth (last fiscal year) (53.06%) 11.67% 13.54%
Revenue growth, 5-year CAGR 41.24% 13.08% 9.24%
Net income growth, 5-year CAGR 31.35% 14.84% 10.85%

Health

Metric COIN MSCI Financial Data & Stock Exchanges median
Debt to equity 0.80 (2.23) 0.67
Current ratio 2.42 0.82 1.04
Net debt to EBITDA 0.66 2.93 1.20

Dividend

Metric COIN MSCI Financial Data & Stock Exchanges median
Dividend yield — 1.21% 1.13%
Payout ratio — 0.42 0.29

Size

Metric COIN MSCI Financial Data & Stock Exchanges median
Market cap 36.22b 46.90b 38.07b

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