Is Coinbase Global, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for Coinbase Global, Inc. has moved from attractive to fair. This suggests that the stock is fairly valued at present. Key valuation ratios include a P/E ratio of 44, a Price to Book Value of 6.11, and an EV to EBITDA of 30.83. In comparison, The Charles Schwab Corp. has a more attractive P/E ratio of 25.67, while The Goldman Sachs Group, Inc. is considered expensive with a P/E of 41.63.
Despite the recent downgrade in valuation, Coinbase has shown strong performance with a year-to-date return of 24.5%, outperforming the S&P 500's return of 14.4%. However, over the past three years, Coinbase's return of 442.64% significantly eclipses the S&P 500's 76.76%, indicating robust growth potential despite its current fair valuation.