Coinbase GlobalXSWX:COIN -7.65%60 Operating Margin % is 0.97% as of Mar. 2026, which is 95% below its 10-year median of 20.28. 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 664 Capital Markets companies, Coinbase Global ranks better than 53.31% on this metric.
The historical rank and industry rank for Coinbase Global's Operating Margin % or its related term are showing as below:
XSWX:COIN'
s Operating Margin % Range Over the Past 10 Years
Min: -60.96 Med: 20.28 Max: 40.93
Current: 11.12
XSWX:COIN's Operating Margin % is ranked better than 53.31% of 664
companies
in the Capital Markets industry
Industry Median: 6.955
vs XSWX:COIN: 11.12
Coinbase Global's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
Coinbase Global Inc has recorded a loss in operating income at least once over the past 3 years.
Coinbase Global (XSWX:COIN) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Coinbase Global Operating Margin % Related Terms
Coinbase Global Operating Margin % Historical Data
* Premium members only.
The historical data trend for Coinbase Global's Operating 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 NDAQ, MSCI, CBOE: Operating Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Coinbase Global's Operating Margin %, along with its competitors' market caps and Operating 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 Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Coinbase Global's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Coinbase Global's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Coinbase Global's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Coinbase Global (XSWX:COIN) has a Operating Margin % of 0.97% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Coinbase Global and its competitors. This is 95% below median its historical median of 20.28. According to the industry distribution chart, Coinbase Global ranks #310 out of 664 companies in the Capital Markets industry, placing it in the top 46.7%.
Is Coinbase Global's Operating Margin % too high?
Coinbase Global's current Operating Margin % of 0.97% is 95% below median its 10-year median of 20.28. The Capital Markets industry median Operating Margin % is 6.96. Coinbase Global's value of 0.97% is 86.1% below this industry median. Based on the distribution chart, Coinbase Global ranks #310 out of 664 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 Operating Margin % compare to NDAQ and MSCI?
According to the Capital Markets industry distribution chart, Coinbase Global ranks #310 out of 664 companies for Operating Margin %. This puts Coinbase Global in the upper half of its industry. The industry median Operating Margin % is 6.96. Coinbase Global's value of 0.97% is 86.1% below this benchmark. While the company's 10-year median is 20.28 vs. the industry median of 6.96, Coinbase Global has consistently been below 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 Operating Margin % for a Capital Markets company?
The median Operating Margin % among Capital Markets companies is 6.96, based on 664 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Coinbase Global's current Operating Margin % of 0.97% is 86.1% below 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Coinbase Global and its competitors. For the Capital Markets industry, the median Operating Margin % is 6.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coinbase Global's current Operating Margin % is 0.97%, which is 95% below median its own 10-year median of 20.28. 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 Operating Margin % is 0.97%, which is 95% below median its 10-year median of 20.28 and 86.1% below the Capital Markets industry median of 6.96. 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 Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Coinbase Global (XSWX:COIN), the current Operating Margin % is 0.97% 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:
Operating Margin %: 0.97% (95% below median its 10-year median of 20.28)
GF Value™: CHF194.26 vs. price of CHF120.05 (38.2% below fair value)
Industry Position: 86.1% below the Capital Markets median (#310 of 664)
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.
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