Coinbase Global, Inc. (COIN) vs S&P Global Inc. (SPGI)

Coinbase Global, Inc. and S&P Global Inc. are both Financial Data & Stock Exchanges companies. S&P Global Inc. is the larger, with a market value of $137.0B against $36.2B — 3.8× the size. Coinbase Global, Inc. has negative trailing earnings, so its P/E is not meaningful; S&P Global Inc. trades at 27.6×. S&P Global Inc. grew revenue faster over the last twelve months: 12.3% against −26.6%. S&P Global Inc. has the higher net margin (30.5% vs −12.5%) and the higher return on invested capital (15.5% vs 0.77%). Across the 19 metrics below, S&P Global Inc. leads on 12 and Coinbase Global, Inc. on 7.

Valuation

Metric COIN SPGI Financial Data & Stock Exchanges median
P/E n/m 27.60 24.85
P/S 6.51 8.44 6.75
P/B 2.63 6.96 4.56
Price to free cash flow 46.46 23.63 20.23
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (1.89%) 3.62% 4.00%
Free cash flow yield 2.15% 4.23% 4.59%

Profitability

Metric COIN SPGI Financial Data & Stock Exchanges median
Gross margin 85.81% 71.03% 72.83%
Operating margin 3.56% 46.24% 29.06%
Net margin (12.46%) 30.48% 25.36%
Free cash flow margin 20.25% 35.71% 32.14%
Return on equity (4.68%) 18.79% 17.00%
Return on assets (2.39%) 9.25% 8.22%
Return on invested capital 0.77% 15.52% 10.55%

Growth

Metric COIN SPGI Financial Data & Stock Exchanges median
Revenue growth (TTM) (26.62%) 12.27% 10.44%
EPS growth (last fiscal year) (53.06%) 18.70% 13.54%
Revenue growth, 5-year CAGR 41.24% 15.56% 9.24%
Net income growth, 5-year CAGR 31.35% 13.83% 10.85%

Health

Metric COIN SPGI Financial Data & Stock Exchanges median
Debt to equity 0.80 0.66 0.67
Current ratio 2.42 0.74 1.04
Net debt to EBITDA 0.66 1.47 1.20

Dividend

Metric COIN SPGI Financial Data & Stock Exchanges median
Dividend yield — 0.82% 1.13%
Payout ratio — 0.23 0.29

Size

Metric COIN SPGI Financial Data & Stock Exchanges median
Market cap 36.22b 136.95b 38.07b

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