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Coinbase（COIN）与Fidelity National Information Services（FIS）财务数据对比。点击上方公司名可切换其他公司
Fidelity National Information Services的季度营收约是Coinbase的1.6倍（$2.8B vs $1.8B），Fidelity National Information Services净利率更高（18.2% vs -37.4%，领先55.6%），Fidelity National Information Services同比增速更快（8.1% vs -21.6%），过去两年Fidelity National Information Services的营收复合增速更高（6.8% vs 4.3%）
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
FIS是总部位于美国的跨国企业，深耕金融科技领域，提供多元金融产品及服务。该公司每年处理约750亿笔交易，支撑约9万亿美元的资金流转，为全球超过2万家客户提供服务。
COIN vs FIS — 直观对比
营收规模更大
FIS
是对方的1.6倍
$1.8B
营收增速更快
FIS
高出29.7%
-21.6%
净利率更高
FIS
高出55.6%
-37.4%
两年增速更快
FIS
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.8B |
| 净利润 | $-666.7M | $511.0M |
| 毛利率 | — | 38.3% |
| 营业利润率 | 15.4% | 18.8% |
| 净利率 | -37.4% | 18.2% |
| 营收同比 | -21.6% | 8.1% |
| 净利润同比 | -151.6% | 97.3% |
| 每股收益（稀释后） | $-2.43 | $0.98 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收COINFIS
| Q4 25 | $1.8B | $2.8B | ||
| Q3 25 | $1.9B | $2.7B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $2.0B | $2.5B | ||
| Q4 24 | $2.3B | $2.6B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.4B | $2.5B | ||
| Q1 24 | $1.6B | $2.5B |
净利润COINFIS
| Q4 25 | $-666.7M | $511.0M | ||
| Q3 25 | $432.6M | $264.0M | ||
| Q2 25 | $1.4B | $-470.0M | ||
| Q1 25 | $65.6M | $77.0M | ||
| Q4 24 | $1.3B | $259.0M | ||
| Q3 24 | $75.5M | $224.0M | ||
| Q2 24 | $36.1M | $243.0M | ||
| Q1 24 | $1.2B | $724.0M |
毛利率COINFIS
| Q4 25 | — | 38.3% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 34.7% | ||
| Q4 24 | — | 36.9% | ||
| Q3 24 | — | 38.0% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 37.1% |
营业利润率COINFIS
| Q4 25 | 15.4% | 18.8% | ||
| Q3 25 | 25.7% | 16.8% | ||
| Q2 25 | -1.6% | 15.6% | ||
| Q1 25 | 34.7% | 13.7% | ||
| Q4 24 | 45.5% | 18.5% | ||
| Q3 24 | 14.1% | 19.1% | ||
| Q2 24 | 23.7% | 15.2% | ||
| Q1 24 | 46.4% | 14.6% |
净利率COINFIS
| Q4 25 | -37.4% | 18.2% | ||
| Q3 25 | 23.1% | 9.7% | ||
| Q2 25 | 95.4% | -18.0% | ||
| Q1 25 | 3.2% | 3.0% | ||
| Q4 24 | 56.8% | 10.0% | ||
| Q3 24 | 6.3% | 8.7% | ||
| Q2 24 | 2.5% | 9.8% | ||
| Q1 24 | 71.8% | 29.3% |
每股收益（稀释后）COINFIS
| Q4 25 | $-2.43 | $0.98 | ||
| Q3 25 | $1.50 | $0.50 | ||
| Q2 25 | $5.14 | $-0.90 | ||
| Q1 25 | $0.24 | $0.15 | ||
| Q4 24 | $4.66 | $0.51 | ||
| Q3 24 | $0.28 | $0.41 | ||
| Q2 24 | $0.14 | $0.44 | ||
| Q1 24 | $4.40 | $1.25 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $11.6B | $599.0M |
| 总债务越低越好 | $7.2B | $9.1B |
| 股东权益账面价值 | $14.8B | $13.9B |
| 总资产 | $29.7B | $33.5B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资COINFIS
| Q4 25 | $11.6B | $599.0M | ||
| Q3 25 | $9.8B | $571.0M | ||
| Q2 25 | $7.5B | $581.0M | ||
| Q1 25 | $8.1B | $805.0M | ||
| Q4 24 | $8.5B | $834.0M | ||
| Q3 24 | $7.7B | $1.3B | ||
| Q2 24 | $7.2B | $2.1B | ||
| Q1 24 | $6.7B | $3.3B |
总债务COINFIS
| Q4 25 | $7.2B | $9.1B | ||
| Q3 25 | $7.2B | $8.9B | ||
| Q2 25 | $4.2B | $8.9B | ||
| Q1 25 | $4.2B | $8.7B | ||
| Q4 24 | $4.2B | $9.7B | ||
| Q3 24 | $4.2B | $10.5B | ||
| Q2 24 | $4.2B | $10.6B | ||
| Q1 24 | $4.2B | $10.6B |
股东权益COINFIS
| Q4 25 | $14.8B | $13.9B | ||
| Q3 25 | $16.0B | $13.9B | ||
| Q2 25 | $12.1B | $14.2B | ||
| Q1 25 | $10.5B | $15.1B | ||
| Q4 24 | $10.3B | $15.7B | ||
| Q3 24 | $8.7B | $16.6B | ||
| Q2 24 | $8.4B | $17.0B | ||
| Q1 24 | $8.1B | $18.0B |
总资产COINFIS
| Q4 25 | $29.7B | $33.5B | ||
| Q3 25 | $31.4B | $33.0B | ||
| Q2 25 | $23.5B | $33.4B | ||
| Q1 25 | $21.7B | $32.8B | ||
| Q4 24 | $22.5B | $33.8B | ||
| Q3 24 | $290.6B | $34.3B | ||
| Q2 24 | $287.0B | $34.6B | ||
| Q1 24 | $348.0B | $35.9B |
负债/权益比COINFIS
| Q4 25 | 0.49× | 0.65× | ||
| Q3 25 | 0.45× | 0.64× | ||
| Q2 25 | 0.35× | 0.63× | ||
| Q1 25 | 0.40× | 0.57× | ||
| Q4 24 | 0.41× | 0.62× | ||
| Q3 24 | 0.48× | 0.63× | ||
| Q2 24 | 0.51× | 0.62× | ||
| Q1 24 | 0.52× | 0.59× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $3.1B | $758.0M |
| 自由现金流经营现金流 - 资本支出 | — | $739.0M |
| 自由现金流率自由现金流/营收 | — | 26.3% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | — | 1.48× |
| 过去12个月自由现金流最近4个季度 | — | $2.5B |
8季度趋势，按日历期对齐
经营现金流COINFIS
| Q4 25 | $3.1B | $758.0M | ||
| Q3 25 | $-784.5M | $1.0B | ||
| Q2 25 | $328.5M | $382.0M | ||
| Q1 25 | $-182.7M | $457.0M | ||
| Q4 24 | $964.6M | $782.0M | ||
| Q3 24 | $696.5M | $641.0M | ||
| Q2 24 | $484.2M | $546.0M | ||
| Q1 24 | $411.5M | $206.0M |
自由现金流COINFIS
| Q4 25 | — | $739.0M | ||
| Q3 25 | — | $952.0M | ||
| Q2 25 | — | $343.0M | ||
| Q1 25 | — | $420.0M | ||
| Q4 24 | — | $764.0M | ||
| Q3 24 | — | $605.0M | ||
| Q2 24 | — | $530.0M | ||
| Q1 24 | — | $179.0M |
自由现金流率COINFIS
| Q4 25 | — | 26.3% | ||
| Q3 25 | — | 35.0% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 23.5% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 7.3% |
资本支出强度COINFIS
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 1.1% |
现金转化率COINFIS
| Q4 25 | — | 1.48× | ||
| Q3 25 | -1.81× | 3.83× | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | -2.79× | 5.94× | ||
| Q4 24 | 0.75× | 3.02× | ||
| Q3 24 | 9.23× | 2.86× | ||
| Q2 24 | 13.39× | 2.25× | ||
| Q1 24 | 0.35× | 0.28× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
FIS
| Banking Solutions | $1.6B | 57% |
| Other | $701.0M | 25% |
| Capital Market Solutions | $508.0M | 18% |
