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 $119.1B against $52.3B — 2.3× the size. Coinbase Global, Inc. has negative trailing earnings, so its P/E is not meaningful; S&P Global Inc. trades at 24.6×. S&P Global Inc. grew revenue faster over the last twelve months: 9.67% against −10.4%. S&P Global Inc. has the higher net margin (30.5% vs −15.7%) and the higher return on invested capital (10.5% vs 2.62%). Across the 21 metrics below, S&P Global Inc. leads on 18 and Coinbase Global, Inc. on 3.

Valuation

Metric COIN SPGI Financial Data & Stock Exchanges median
P/E n/m 24.61 21.77
P/S 8.18 7.39 7.79
P/B 3.93 3.77 3.85
Price to free cash flow 47.08 21.38 18.75
EV/EBITDA 60.84 15.55 15.55
EV/Sales 8.45 8.07 6.94
Earnings yield (1.89%) 4.06% 4.49%
Free cash flow yield 2.12% 4.68% 4.68%

Profitability

Metric COIN SPGI Financial Data & Stock Exchanges median
Gross margin 86.35% 70.90% 70.90%
Operating margin 9.86% 44.43% 29.55%
Net margin (15.72%) 30.53% 23.21%
Free cash flow margin 22.97% 34.57% 29.05%
Return on equity (7.85%) 15.12% 15.34%
Return on assets (3.96%) 7.98% 6.82%
Return on invested capital 2.62% 10.50% 9.96%

Growth

Metric COIN SPGI Financial Data & Stock Exchanges median
Revenue growth (TTM) (10.35%) 9.67% 9.16%
EPS growth (last fiscal year) (53.06%) 18.70% —
Revenue growth, 5-year CAGR (1.74%) 15.56% 7.76%
Net income growth, 5-year CAGR (19.04%) 13.83% 9.78%

Health

Metric COIN SPGI Financial Data & Stock Exchanges median
Debt to equity 0.82 0.48 0.48
Current ratio 2.42 0.95 1.06
Net debt to EBITDA 0.66 1.47 1.08

Dividend

Metric COIN SPGI Financial Data & Stock Exchanges median
Dividend yield — 0.88% 1.16%
Payout ratio 0.00 0.49 0.42

Size

Metric COIN SPGI Financial Data & Stock Exchanges median
Market cap 52.33b 119.08b 27.94b

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