Coinbase Global, Inc.

DB:1QZ Stock Report

Market Cap: €55.3b

Coinbase Global Valuation

Is 1QZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1QZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€138.37
Fair Value
56.8% overvalued intrinsic discount
26
Number of Analysts

Below Fair Value: 1QZ (€216.9) is trading above our estimate of fair value (€138.37)

Significantly Below Fair Value: 1QZ is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1QZ?

Key metric: As 1QZ is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1QZ. This is calculated by dividing 1QZ's market cap by their current earnings.
What is 1QZ's PE Ratio?
PE Ratio42.8x
EarningsUS$1.47b
Market CapUS$62.82b

Price to Earnings Ratio vs Peers

How does 1QZ's PE Ratio compare to its peers?

The above table shows the PE ratio for 1QZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.5x
DB1 Deutsche Börse
26.4x6.01%€52.1b
DBK Deutsche Bank
14.2x19.56%€47.3b
DWS DWS Group GmbH KGaA
14.1x9.09%€9.9b
388 Hong Kong Exchanges and Clearing
35.3x6.02%HK$500.3b
1QZ Coinbase Global
42.8x10.63%€62.8b

Price-To-Earnings vs Peers: 1QZ is expensive based on its Price-To-Earnings Ratio (42.8x) compared to the peer average (22.5x).

Price to Earnings Ratio vs Industry

How does 1QZ's PE Ratio compare vs other companies in the DE Capital Markets Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HXCK Ernst Russ
3.9x-33.20%US$234.08m
SPT6 Sparta
1.3xn/aUS$96.37m
EFS3 Effecten-Spiegel
4.2xn/aUS$54.09m
VG8 Varengold Bank
4.9xn/aUS$31.70m
1QZ 42.8xIndustry Avg. 22.8xNo. of Companies8PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1QZ is expensive based on its Price-To-Earnings Ratio (42.8x) compared to the German Capital Markets industry average (22.8x).

Price to Earnings Ratio vs Fair Ratio

What is 1QZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1QZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42.8x
Fair PE Ratio31x

Price-To-Earnings vs Fair Ratio: 1QZ is expensive based on its Price-To-Earnings Ratio (42.8x) compared to the estimated Fair Price-To-Earnings Ratio (31x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1QZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€216.90
€235.20
+8.44%
24.11%€352.92€149.99n/a26
May ’26€176.22
€235.24
+33.49%
28.59%€354.28€149.68n/a27
Apr ’26€161.04
€295.85
+83.71%
23.12%€441.75€158.10n/a25
Mar ’26€204.60
€313.36
+53.16%
19.91%€451.68€161.65n/a24
Feb ’26€281.60
€283.28
+0.60%
22.07%€403.37€144.06n/a24
Jan ’26€249.95
€280.12
+12.07%
24.11%€402.53€143.76n/a25
Dec ’25€280.00
€247.42
-11.63%
27.38%€381.12€142.92n/a25
Nov ’25€169.08
€217.94
+28.90%
22.62%€321.79€124.12n/a23
Oct ’25€148.50
€221.54
+49.18%
25.43%€358.32€120.93n/a23
Sep ’25€164.72
€224.15
+36.08%
24.52%€358.64€116.56n/a23
Aug ’25€195.76
€236.93
+21.03%
24.98%€370.68€120.47n/a24
Jul ’25€219.00
€239.45
+9.34%
26.49%€421.34€121.72n/a23
Jun ’25€204.60
€232.93
+13.85%
27.38%€413.87€119.56n/a22
May ’25€190.28
€224.79
+18.13%
33.03%€421.56€103.05€176.2223
Apr ’25€246.40
€181.95
-26.16%
35.64%€325.85€74.48€161.0423
Mar ’25€189.54
€153.08
-19.24%
30.41%€231.03€73.93€204.6023
Feb ’25€120.36
€116.91
-2.86%
34.78%€184.24€55.27€281.6023
Jan ’25€169.00
€92.70
-45.15%
38.64%€181.60€35.41€249.9522
Dec ’24€123.00
€78.54
-36.15%
39.09%€136.71€31.90€280.0023
Nov ’24€73.75
€80.68
+9.40%
40.78%€141.95€25.55€169.0823
Oct ’24€71.41
€81.27
+13.81%
47.43%€183.32€24.75€148.5021
Sep ’24€72.31
€81.27
+12.39%
47.43%€183.32€24.75€164.7221
Aug ’24€85.86
€72.76
-15.26%
51.67%€182.10€24.58€195.7622
Jul ’24€66.00
€61.91
-6.20%
49.80%€182.70€24.66€219.0022
Jun ’24€61.00
€61.96
+1.57%
48.93%€183.88€24.82€204.6023
May ’24€48.85
€63.81
+30.61%
49.30%€182.30€27.35€190.2822
AnalystConsensusTarget
Consensus Narrative from 26 Analysts
€234.45
Fair Value
7.5% undervalued intrinsic discount
26
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/31 22:10
End of Day Share Price 2025/05/30 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Coinbase Global, Inc. is covered by 41 analysts. 24 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ishan MajumdarBaptista Research
Benjamin BudishBarclays
Mark PalmerBenchmark Company