With the Nasdaq and startup valuations down so much, it is unsurprising to see the formerly red-hot Coinbase stock also down substantially from all-time highs. Coinbase stands out to me because unlike a Peloton or an Opendoor, the company is profitable and growing at a healthy clip. Q4 Revenue was reported at $2.5 billion, they generated nearly $850 million in net income, and both metrics were growing over 300% YoY. Yet Coinbase stock is down like a money-losing growth stock, and it trades for a significantly lower earnings multiple (7.8) than IBM (21) and Oracle (28).
Investigating the Coinbase P/E ratio
Investigating the Coinbase P/E ratio
Investigating the Coinbase P/E ratio
With the Nasdaq and startup valuations down so much, it is unsurprising to see the formerly red-hot Coinbase stock also down substantially from all-time highs. Coinbase stands out to me because unlike a Peloton or an Opendoor, the company is profitable and growing at a healthy clip. Q4 Revenue was reported at $2.5 billion, they generated nearly $850 million in net income, and both metrics were growing over 300% YoY. Yet Coinbase stock is down like a money-losing growth stock, and it trades for a significantly lower earnings multiple (7.8) than IBM (21) and Oracle (28).