CoinShares PLC (CSHR) vs Gemini Space Station, Inc. (GEMI)

CoinShares PLC and Gemini Space Station, Inc. are both Capital Markets companies. CoinShares PLC and Gemini Space Station, Inc. are of similar size ($769.7M and $737.1M). Gemini Space Station, Inc. has negative trailing earnings, so its P/E is not meaningful; CoinShares PLC trades at 7.3×. CoinShares PLC has the higher net margin (0.00% vs −250.1%) and the higher return on invested capital (0.00% vs −38.4%). Across the 12 metrics below, CoinShares PLC leads on 9 and Gemini Space Station, Inc. on 3.

Valuation

Metric CSHR GEMI Capital Markets median
P/E 7.32 n/m 15.78
P/S n/m 3.25 2.32
P/B n/m 1.43 1.89
Price to free cash flow n/m n/m 6.25
EV/EBITDA n/m n/m 8.87
EV/Sales n/m 4.16 2.28
Earnings yield 13.65% (175.27%) (3.77%)
Free cash flow yield (3.07%) (46.58%) (1.49%)

Profitability

Metric CSHR GEMI Capital Markets median
Gross margin — 100.00% 62.80%
Operating margin 0.00% (195.12%) 0.00%
Net margin 0.00% (250.13%) (0.55%)
Free cash flow margin 0.00% (151.39%) 0.00%
Return on equity (103.66%) 316.18% 0.00%
Return on assets 4.73% (68.82%) 0.00%
Return on invested capital 0.00% (38.35%) 0.00%

Growth

Metric CSHR GEMI Capital Markets median
Revenue growth (TTM) — — 21.02%
EPS growth (last fiscal year) 147.36% 51.86% —
Revenue growth, 5-year CAGR — — 18.16%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric CSHR GEMI Capital Markets median
Debt to equity 0.00 1.03 0.08
Current ratio 0.18 1.30 1.51
Net debt to EBITDA 0.02 (0.84) (0.24)

Dividend

Metric CSHR GEMI Capital Markets median
Dividend yield — — 2.20%
Payout ratio — — 0.00

Size

Metric CSHR GEMI Capital Markets median
Market cap 769.71m 737.13m 724.58m

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