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Side-by-side financial comparison of Coinbase (COIN) and FMC CORP (FMC). Click either name above to swap in a different company.
Coinbase is the larger business by last-quarter revenue ($1.8B vs $1.1B, roughly 1.6× FMC CORP). Coinbase runs the higher net margin — -37.4% vs -158.8%, a 121.4% gap on every dollar of revenue. On growth, FMC CORP posted the faster year-over-year revenue change (-11.5% vs -21.6%). Over the past eight quarters, FMC CORP's revenue compounded faster (8.6% CAGR vs 4.3%).
Coinbase Global, Inc. is an American cryptocurrency exchange. It was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase has over 100 million users, and is the largest U.S. based cryptocurrency exchange as well as the world's biggest bitcoin custodian, as of 2024. The company operates in more than 100 countries and holds nearly US$516 billion in assets, including nearly 12 percent of all bitcoin in existence and 11 percent of all staked Ether.
FMC Corporation is an American chemical manufacturing company headquartered in Philadelphia, Pennsylvania, which originated as an insecticide producer in 1883 and later diversified into other industries. In 1941 at the beginning of US involvement in WWII, the company received a contract to design and build amphibious tracked landing vehicles for the United States Department of War, and afterwards the company continued to diversify its products. FMC employs 7,000 people worldwide, and had gros...
COIN vs FMC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.1B |
| Net Profit | $-666.7M | $-1.7B |
| Gross Margin | — | 39.8% |
| Operating Margin | 15.4% | -130.8% |
| Net Margin | -37.4% | -158.8% |
| Revenue YoY | -21.6% | -11.5% |
| Net Profit YoY | -151.6% | -10457.1% |
| EPS (diluted) | $-2.43 | $-13.77 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.8B | $1.1B | ||
| Q3 25 | $1.9B | $542.2M | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $2.0B | $791.4M | ||
| Q4 24 | $2.3B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $1.6B | $918.0M |
| Q4 25 | $-666.7M | $-1.7B | ||
| Q3 25 | $432.6M | $-569.3M | ||
| Q2 25 | $1.4B | $66.7M | ||
| Q1 25 | $65.6M | $-15.5M | ||
| Q4 24 | $1.3B | $-16.3M | ||
| Q3 24 | $75.5M | $65.0M | ||
| Q2 24 | $36.1M | $295.1M | ||
| Q1 24 | $1.2B | $-2.7M |
| Q4 25 | — | 39.8% | ||
| Q3 25 | — | 23.8% | ||
| Q2 25 | — | 38.7% | ||
| Q1 25 | — | 40.0% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 36.3% | ||
| Q2 24 | — | 38.3% | ||
| Q1 24 | — | 37.0% |
| Q4 25 | 15.4% | -130.8% | ||
| Q3 25 | 25.7% | -73.1% | ||
| Q2 25 | -1.6% | 12.0% | ||
| Q1 25 | 34.7% | 7.4% | ||
| Q4 24 | 45.5% | 19.2% | ||
| Q3 24 | 14.1% | 12.7% | ||
| Q2 24 | 23.7% | 6.0% | ||
| Q1 24 | 46.4% | 8.1% |
| Q4 25 | -37.4% | -158.8% | ||
| Q3 25 | 23.1% | -105.0% | ||
| Q2 25 | 95.4% | 6.3% | ||
| Q1 25 | 3.2% | -2.0% | ||
| Q4 24 | 56.8% | -1.3% | ||
| Q3 24 | 6.3% | 6.1% | ||
| Q2 24 | 2.5% | 28.4% | ||
| Q1 24 | 71.8% | -0.3% |
| Q4 25 | $-2.43 | $-13.77 | ||
| Q3 25 | $1.50 | $-4.52 | ||
| Q2 25 | $5.14 | $0.53 | ||
| Q1 25 | $0.24 | $-0.12 | ||
| Q4 24 | $4.66 | $-0.13 | ||
| Q3 24 | $0.28 | $0.52 | ||
| Q2 24 | $0.14 | $2.35 | ||
| Q1 24 | $4.40 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.6B | $584.5M |
| Total DebtLower is stronger | $7.2B | $3.4B |
| Stockholders' EquityBook value | $14.8B | $2.1B |
| Total Assets | $29.7B | $9.7B |
| Debt / EquityLower = less leverage | 0.49× | 1.62× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.6B | $584.5M | ||
| Q3 25 | $9.8B | $497.7M | ||
| Q2 25 | $7.5B | $438.2M | ||
| Q1 25 | $8.1B | $315.3M | ||
| Q4 24 | $8.5B | $357.3M | ||
| Q3 24 | $7.7B | $416.7M | ||
| Q2 24 | $7.2B | $471.5M | ||
| Q1 24 | $6.7B | $417.8M |
| Q4 25 | $7.2B | $3.4B | ||
| Q3 25 | $7.2B | $3.4B | ||
| Q2 25 | $4.2B | $3.4B | ||
| Q1 25 | $4.2B | $3.1B | ||
| Q4 24 | $4.2B | $3.1B | ||
| Q3 24 | $4.2B | $3.1B | ||
| Q2 24 | $4.2B | $3.1B | ||
| Q1 24 | $4.2B | $3.1B |
| Q4 25 | $14.8B | $2.1B | ||
| Q3 25 | $16.0B | $3.8B | ||
| Q2 25 | $12.1B | $4.4B | ||
| Q1 25 | $10.5B | $4.4B | ||
| Q4 24 | $10.3B | $4.5B | ||
| Q3 24 | $8.7B | $4.6B | ||
| Q2 24 | $8.4B | $4.6B | ||
| Q1 24 | $8.1B | $4.3B |
| Q4 25 | $29.7B | $9.7B | ||
| Q3 25 | $31.4B | $12.1B | ||
| Q2 25 | $23.5B | $12.3B | ||
| Q1 25 | $21.7B | $11.8B | ||
| Q4 24 | $22.5B | $11.7B | ||
| Q3 24 | $290.6B | $12.2B | ||
| Q2 24 | $287.0B | $12.1B | ||
| Q1 24 | $348.0B | $12.0B |
| Q4 25 | 0.49× | 1.62× | ||
| Q3 25 | 0.45× | 0.89× | ||
| Q2 25 | 0.35× | 0.76× | ||
| Q1 25 | 0.40× | 0.71× | ||
| Q4 24 | 0.41× | 0.69× | ||
| Q3 24 | 0.48× | 0.68× | ||
| Q2 24 | 0.51× | 0.68× | ||
| Q1 24 | 0.52× | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.1B | $657.1M |
| Free Cash FlowOCF − Capex | — | $631.1M |
| FCF MarginFCF / Revenue | — | 58.3% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-102.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | $657.1M | ||
| Q3 25 | $-784.5M | $-184.2M | ||
| Q2 25 | $328.5M | $65.9M | ||
| Q1 25 | $-182.7M | $-545.0M | ||
| Q4 24 | $964.6M | $427.9M | ||
| Q3 24 | $696.5M | $159.5M | ||
| Q2 24 | $484.2M | $292.2M | ||
| Q1 24 | $411.5M | $-142.9M |
| Q4 25 | — | $631.1M | ||
| Q3 25 | — | $-207.9M | ||
| Q2 25 | — | $50.9M | ||
| Q1 25 | — | $-576.6M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $143.8M | ||
| Q2 24 | — | $282.3M | ||
| Q1 24 | — | $-163.6M |
| Q4 25 | — | 58.3% | ||
| Q3 25 | — | -38.3% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | -72.9% | ||
| Q4 24 | — | 33.2% | ||
| Q3 24 | — | 13.5% | ||
| Q2 24 | — | 27.2% | ||
| Q1 24 | — | -17.8% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | — | ||
| Q3 25 | -1.81× | — | ||
| Q2 25 | 0.23× | 0.99× | ||
| Q1 25 | -2.79× | — | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | 9.23× | 2.45× | ||
| Q2 24 | 13.39× | 0.99× | ||
| Q1 24 | 0.35× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
FMC
| Insecticides | $440.3M | 41% |
| Herbicides | $378.8M | 35% |
| Fungicides | $140.4M | 13% |
| Plant Health | $65.6M | 6% |
| Other | $45.0M | 4% |
