Positive context积极背景
Stocks股票 / Financials / COIN
Coinbase · Financials
COIN US listed · USD美股 · 美元
Coinbase Global, Inc. is an American cryptocurrency exchange.Coinbase Global, Inc. 是一家美国加密货币交易所。
Large cap大盘 · $44B
Financials
Financial金融股
$164.45
Regular quote常规时段报价
-$4.64 · -2.74%
Extended quote unavailable. Showing the regular quote.盘前盘后报价暂不可用，现显示常规时段报价。
Pre-market盘前
·
52w low52周低 $133high高 $372
Hold off — timing against you暂缓 — 时机不利
Downtrend — stand aside until a new cycle low forms and confirms.下跌趋势——观望，直至新的周期低点形成并确认。
As of 2026-10-26截至 2026-10-26
Company news公司新闻
The latest reporting最新报道
One story, with the reporting behind it.将同一事件汇总，保留各来源报道。
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-10-26
Momentum (RSI 14)动量（RSI 14）
41
Neutral zone中性区域
vs 50-day average相对50日均线
-8.4% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-8.9% below下方
Long trend down长期向下
Volatility波动率
14th percentile第14百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-10-294
Estimates roughly stable预期基本稳定
Mixed — beat 1 of last 4 quarters表现不稳 — 近 4 季中 1 季超预期
Post-earnings drift: +27.2% (20d)财报后漂移：+27.2%（20日）
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 -128.6%
Valuation估值
Expensive vs sector相对行业偏贵| Multiple指标 | COIN | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 33.88x | 14.19 | |
| P/B市净率 | 2.98x | 1.48 | |
| P/S市销率 | 6.13x | 3.00 | |
| Earnings yield盈利收益率 | 2.95% | 6.87 | |
| Shareholder yield股东收益率 | 1.79% | 4.10 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
$7.2B2025
20212025
5-yr growth5年复合增速 -2.2%
Earnings per share每股收益
$4.452025
20212025
5-yr growth5年复合增速 -25.6%
Free cash flow自由现金流
-$1.6B2022
20212025
Operating margin营业利润率
20.0%
Net margin净利率
18.1%
FCF margin自由现金流利润率
33.8%
Balance-sheet quality财务体质 4/7
Bankruptcy risk: grey zone破产风险：灰色区
Return on equity股本回报率 9%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA-2.51
Capital allocation资本配置
Buybacks (TTM)回购（TTM）$790.2M
Stock-based comp股权薪酬$839.4M
Share count change (1y)股数变化（1年）+5.6%
Debt coming due到期债务
SEC filingsSEC 文件Its filings are available, but they do not break debt down by the year it comes due — every bucket below is unreported.已获取该公司的 SEC 文件，但文件中未按到期年度拆分债务 —— 以下各区间均未披露。
Next 12 months未来12个月
not reported未披露
Year 2第2年
not reported未披露
Year 3第3年
not reported未披露
Year 4第4年
not reported未披露
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Not every company reports a year-by-year schedule. Nothing is being estimated in its place.并非所有公司都会披露逐年到期安排；此处不作任何估算替代。
A cash-flow scenario is unavailable until the filing inputs are verified.报告数据核实前，现金流情景暂不可用。
Capital-need coverage is not available for this issuer yet.该发行人的资本需求覆盖信息暂不可用。
Reported facts remain separate from the cash-flow scenario until identity and filing provenance are confirmed.在确认身份与报告来源之前，已披露事实与现金流情景保持分离。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Sector / Theme行业/主题
Financials (Equal-Weight) theme — #17 of 49 themes「金融（等权）」主题 — 49 个主题中第 17 位
Macro宏观
Short-duration name into a restrictive, rising-real-rate regime → rate tailwind.短久期标的进入偏紧、实际利率上行的环境→利率顺风。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
COIN StochRSI turned up from oversoldCOIN StochRSI自超卖区上行
Options positioning期权持仓
as of last close截至上一收盘Market makers are net short gamma — price moves may amplify做市商净持有负伽玛，价格波动可能被放大
Expected daily move预期日波动
±4.50%
Expected weekly move预期周波动
±10.06%
Gamma flip伽玛翻转位
$173
25d risk reversal25d风险逆转
-0.9%
Flow:资金流向： $152M premium traded; 0% 0DTE; 65 fresh positions; P/C 0.36; ~leans bullish (direction approx)成交权利金 $152M；0DTE占0%；65个新建仓；看跌看涨比 0.36；≈偏看涨（方向近似）
Skew: balanced偏斜：balanced
Call and put walls are plotted on the Trade levels ladder →看涨/看跌期权墙已标注在「交易点位」阶梯上 →
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$28.5M net (0 buyers, 6 sellers)-$28.5M 净值（0 买家，6 卖家）
Signal history信号历史
engine events引擎事件
BOTTOMING → DOWNTREND筑底中 → 下跌趋势
AVOID. Failed cycle — price broke below the low that started this cycle, which historically means the larger trend is rolling over (~80% of cases)回避。失败周期——价格跌破了启动本周期的低点，历史上这通常意味着更大的趋势正在掉头向下（约 80% 的情形）
Oct 21, 2026
COIN StochRSI turned up from oversoldCOIN StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $177.08.StochRSI重回20上方 — 下行动量趋缓的最早预警。$177.08。
Oct 16, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Oct 16, 2026
COIN lost its 200-day averageCOIN 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $173.16.收盘跌破200日均线 — 经典的空头分界线。$173.16。
Oct 15, 2026
COIN reclaimed its 200-day averageCOIN 收复200日均线
Price closed back above the 200-day moving average — the classic bull dividing line. $183.81.收盘重回200日均线 — 经典的多头分界线。$183.81。
Oct 12, 2026
COIN StochRSI turned up from oversoldCOIN StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $180.39.StochRSI重回20上方 — 下行动量趋缓的最早预警。$180.39。
Oct 7, 2026
NEARING A LOW → BOTTOMING接近低点 → 筑底中
BUY SETUP买入预备
Oct 7, 2026
COIN lost its 200-day averageCOIN 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $178.45.收盘跌破200日均线 — 经典的空头分界线。$178.45。
Oct 5, 2026
COIN reclaimed its 200-day averageCOIN 收复200日均线
Price closed back above the 200-day moving average — the classic bull dividing line. $188.22.收盘重回200日均线 — 经典的多头分界线。$188.22。
Oct 2, 2026
COIN lost its 200-day averageCOIN 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $183.00.收盘跌破200日均线 — 经典的空头分界线。$183.00。
Showing the last 15 of显示最近15条，共 129 signals条信号
Company profile公司档案
Coinbase Global, Inc. is an American cryptocurrency exchange.Coinbase Global, Inc. 是一家美国加密货币交易所。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Below market低于市场
Quality质量
Below market低于市场
Investment资本投入
Below market低于市场
Shareholder payout股东回报
Below market低于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Below market低于市场
Earnings quality盈利质量
Below market低于市场
Short interest空头兴趣
Below market低于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 33.9× | 14.2× | 8% |
| Price / Book市净率 | 3.0× | 1.5× | 21% |
| Price / Sales市销率 | 6.1× | 3.0× | 21% |
| Earnings yield盈利收益率 | 3.0% | 6.9% | 12% |
| Free-cash-flow yield自由现金流收益率 | 5.5% | 8.6% | 26% |
| Shareholder yield股东综合回报率 | 1.8% | 4.1% | 22% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
16/100 — weaker than most弱于多数
vs market, 3 months相对大盘（3个月）
68/100 — middle of the pack居中
vs market, 6 months相对大盘（6个月）
31/100 — middle of the pack居中
vs market, 12 months相对大盘（12个月）
7/100 — weaker than most弱于多数
Rank in sector行业内排名
#215 / 262
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -5.0% | -0.4% |
| 1 Month近1月 | -17.0% | -1.0% |
| 3 Months近3月 | +3.9% | +3.1% |
| 6 Months近6月 | -17.7% | +7.0% |
| Year to date年初至今 | -30.5% | +12.1% |
| 1 Year近1年 | -49.0% | +14.4% |
Trading information交易信息
Beta vs market贝塔
2.92
Volatility rank波动率分位
14th pctile
Short interest空头占比
9.1% of float
Market cap市值
$44B
EPS (trailing)每股收益
$4.85
Off 52-week high距52周高点
-54.5%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|
| Revenue营业收入 | $7.8B | $3.2B | $3.1B | $6.6B | $7.2B |
| EPS每股收益 | $14.50 | $-11.83 | $0.37 | $9.48 | $4.45 |
| Free cash flow自由现金流 | $10.7B | $-1.6B | — | — | — |
| Gross margin毛利率 | — | — | — | — | — |
| Net margin净利率 | 46.2% | -82.2% | 3.1% | 39.3% | 17.6% |
| FCF margin自由现金流利润率 | 136.8% | -49.7% | — | — | — |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$7.2B
Net income净利润
$1.3B
Operating cash flow经营现金流
$2.4B
Total assets总资产
$29.7B
Shareholder equity股东权益
$14.8B
Long-term debt长期负债
$5.9B
Buybacks股票回购
$790M
Shares outstanding总股本
0.27B
Returns & growth回报与增长
Return on equity股本回报率
8.8%
Return on assets资产回报率
4.4%
Debt / assets负债/资产
20.0%
Profit growth利润增速
-50.0%
Asset growth资产增速
+31.6%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 5 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 5 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Capital discipline: assets +31.6% (aggressive expansion)资本纪律：资产 +31.6%（扩张激进）
- Balance sheet: Altman Z 2.94 — grey zone资产负债表：Altman Z 2.94——灰色区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
41
RSI (2-day)RSI（2日）
18
vs 20-day average相对20日均线
-8.3%
vs 50-day average相对50日均线
-8.4%
vs 200-day average相对200日均线
-8.9%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down动能向下
3-day3日线
momentum down — fresh downturn动能向下——刚刚转弱
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
CompressedCOMPRESSED
Days compressed已压缩天数
4
Range width percentile波幅宽度分位
14/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $-0.39 | $0.14 | -378.6% |
| Mar 2026 | $-0.17 | $0.36 | -147.2% |
| Dec 2025 | $0.66 | $0.92 | -28.3% |
| Sep 2025 | $1.44 | $1.03 | +39.8% |
Estimate revisions预期修正
Analysts covering覆盖分析师
8
Estimate direction预期调整方向
mixed分歧
Estimate change, 90 days预期变化（90天）
-32.1%
Net upgrades, 30 days净上调（30天）
+4
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Options — full detail期权持仓 — 完整明细
Dealer positioning map做市商持仓地图
Call wall看涨期权墙
$182
Put wall看跌期权墙
$150
Gamma flip伽玛翻转位
$173
Upside magnet上方磁吸位
$170
Downside magnet下方磁吸位
$160
Net dealer gamma做市商净伽玛
-$0.0B
Distance to flip距翻转位
-5.0%
Walls and magnets are strikes with heavy open interest — price often slows or gravitates there.期权墙与磁吸位是未平仓集中的行权价 — 价格常在附近减速或被吸引。
Volatility pricing波动率定价
Implied volatility (30d)隐含波动率（30天）
1%
25-delta risk reversal25-delta风险逆转
-0.9%
Call-put IV spread看涨-看跌IV价差
+0.0pp
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$28.5M
Insider buyers vs sellers内部人买家vs卖家
0 : 6
Short interest空头占流通盘
9.1%
Days to cover回补天数
2.5
Short interest change空头变化
-3.4%
Recent fund flows近期基金流向
Bitwise Crypto Industry InnovatorsBitwise Crypto Industry Innovators
trimming减持
Global X BlockchainGlobal X Blockchain
trimming减持
VanEck Digital TransformationVanEck Digital Transformation
trimming减持
ARK Blockchain & Fintech InnovationARK Blockchain & Fintech Innovation
trimming减持
ARKWARKW
accumulating持续增持
ARKKARKK
trimming减持
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。