Coinbase GlobalXSWX:COIN 60 Gross Margin % is 69.67% as of Mar. 2026, which is 10% below its 10-year median of 77.82. GuruFocus rates XSWX:COIN with a GF Score™ of 60/100 and a GF Value™ of CHF194.26 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 620 Capital Markets companies, Coinbase Global ranks better than 74.68% on this metric.
Coinbase Global Inc gross margin has been in long-term decline. The average rate of decline per year is -3.5%.
The historical rank and industry rank for Coinbase Global's Gross Margin % or its related term are showing as below:
XSWX:COIN'
s Gross Margin % Range Over the Past 10 Years
Min: 63.47 Med: 77.82 Max: 89.39
Current: 73.37
During the past 7 years, the highestGross Margin % of Coinbase Global was 89.39%. The lowest was 63.47%. And the median was 77.82%.
XSWX:COIN's Gross Margin % is ranked better than 74.68% of 620
companies
in the Capital Markets industry
Industry Median: 49.63
vs XSWX:COIN: 73.37
Coinbase Global had a gross margin of 69.67% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Coinbase Global was -3.50% per year.
Coinbase Global (XSWX:COIN) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Coinbase Global had a gross margin of 69.67% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Coinbase Global Gross Margin % Related Terms
Coinbase Global Gross Margin % Historical Data
* Premium members only.
The historical data trend for Coinbase Global's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:COIN vs MSCI, NDAQ, CBOE: Gross Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Coinbase Global's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Coinbase Global Gross Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Coinbase Global's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Coinbase Global's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Coinbase Global (XSWX:COIN) has a Gross Margin % of 69.67% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Coinbase Global and its competitors. This is 10% below median its historical median of 77.82. Over the past decade, Coinbase Global's Gross Margin % has ranged from 63.47 to 89.39. According to the industry distribution chart, Coinbase Global ranks #157 out of 620 companies in the Capital Markets industry, placing it in the top 25.3%.
Is Coinbase Global's Gross Margin % too high?
Coinbase Global's current Gross Margin % of 69.67% is 10% below median its 10-year median of 77.82. Over the past 10 years, this metric has ranged from a low of 63.47 to a high of 89.39. The Capital Markets industry median Gross Margin % is 49.63. Coinbase Global's value of 69.67% is 40.4% above this industry median. Based on the distribution chart, Coinbase Global ranks #157 out of 620 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Coinbase Global has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Coinbase Global's Gross Margin % compare to MSCI and NDAQ?
According to the Capital Markets industry distribution chart, Coinbase Global ranks #157 out of 620 companies for Gross Margin %. This puts Coinbase Global in the upper half of its industry. The industry median Gross Margin % is 49.63. Coinbase Global's value of 69.67% is 40.4% above this benchmark. Historically, Coinbase Global's own Gross Margin % has ranged from 63.47 to 89.39 over the past decade. While the company's 10-year median is 77.82 vs. the industry median of 49.63, Coinbase Global has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Capital Markets company?
The median Gross Margin % among Capital Markets companies is 49.63, based on 620 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Coinbase Global's current Gross Margin % of 69.67% is 40.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Coinbase Global and its competitors. For the Capital Markets industry, the median Gross Margin % is 49.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coinbase Global's current Gross Margin % is 69.67%, which is 10% below median its own 10-year median of 77.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coinbase Global stock overvalued right now?
Based on GuruFocus' analysis, Coinbase Global (XSWX:COIN) is currently considered Possible Value Trap. The stock's GF Value™ is CHF194.26, compared to a current price of CHF120.05 — trading 38.2% below its estimated fair value. The current Gross Margin % is 69.67%, which is 10% below median its 10-year median of 77.82 and 40.4% above the Capital Markets industry median of 49.63. Coinbase Global's overall GF Score™ is 60/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Coinbase Global (XSWX:COIN), the current Gross Margin % is 69.67% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Coinbase Global (XSWX:COIN) Overvalued in 2026?
Based on GuruFocus' analysis, Coinbase Global stock appears to be undervalued.
The current stock price of CHF120.05 is trading 38.2% below its estimated GF Value™ of CHF194.26.
GuruFocus considers Coinbase Global to be Possible Value Trap.
Key valuation signals for XSWX:COIN:
Gross Margin %: 69.67% (10% below median its 10-year median of 77.82)
GF Value™: CHF194.26 vs. price of CHF120.05 (38.2% below fair value)
Industry Position: 40.4% above the Capital Markets median (#157 of 620)
No single metric tells the full story. See the XSWX:COIN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
60GF Score
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