Coinbase Global, Inc. COIN NASDAQ

Coinbase Global, Inc. (COIN) generated $2.43B in operating cash flow for fiscal year 2025. After capital expenditures of $0.00, free cash flow was $2.43B.

Free cash flow margin was 33.8% of revenue. Cash conversion ratio was 1.93x, indicating earnings are backed by cash.

The company returned $790.2M in share buybacks to shareholders during the period.

Criteria supported by this page:

• HEALTH (83/100, Pass) — demonstrate the company can comfortably service its debt
• MOAT (65/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (70/100) — Cash conversion ratio was 1.93x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 77/100 with 5/7 criteria passed.