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Coinbase（COIN）与FIVE BELOW, INC（FIVE）财务数据对比。点击上方公司名可切换其他公司
Coinbase的季度营收约是FIVE BELOW, INC的1.7倍（$1.8B vs $1.0B），FIVE BELOW, INC净利率更高（3.5% vs -37.4%，领先40.9%），FIVE BELOW, INC同比增速更快（23.1% vs -21.6%），过去两年Coinbase的营收复合增速更高（4.3% vs -11.9%）
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。
Five Below是美国特色折扣礼品连锁品牌，2002年成立，总部位于宾夕法尼亚州费城，主要面向青少年消费群体，旗下绝大多数商品定价不超过5美元，另有少量精选商品最高定价40美元，目前在全美拥有超过1850家线下门店。
COIN vs FIVE — 直观对比
营收规模更大
COIN
是对方的1.7倍
$1.0B
营收增速更快
FIVE
高出44.7%
-21.6%
净利率更高
FIVE
高出40.9%
-37.4%
两年增速更快
COIN
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.0B |
| 净利润 | $-666.7M | $36.5M |
| 毛利率 | — | 33.8% |
| 营业利润率 | 15.4% | 4.2% |
| 净利率 | -37.4% | 3.5% |
| 营收同比 | -21.6% | 23.1% |
| 净利润同比 | -151.6% | 2063.9% |
| 每股收益（稀释后） | $-2.43 | $0.66 |
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COINFIVE
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.9B | $1.0B | ||
| Q2 25 | $1.5B | $970.5M | ||
| Q1 25 | $2.0B | $1.4B | ||
| Q4 24 | $2.3B | $843.7M | ||
| Q3 24 | $1.2B | $830.1M | ||
| Q2 24 | $1.4B | $811.9M | ||
| Q1 24 | $1.6B | $1.3B |
净利润COINFIVE
| Q4 25 | $-666.7M | $36.5M | ||
| Q3 25 | $432.6M | $42.8M | ||
| Q2 25 | $1.4B | $41.1M | ||
| Q1 25 | $65.6M | $187.5M | ||
| Q4 24 | $1.3B | $1.7M | ||
| Q3 24 | $75.5M | $33.0M | ||
| Q2 24 | $36.1M | $31.5M | ||
| Q1 24 | $1.2B | $202.2M |
毛利率COINFIVE
| Q4 25 | — | 33.8% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 40.2% | ||
| Q4 24 | — | 30.6% | ||
| Q3 24 | — | 32.7% | ||
| Q2 24 | — | 32.5% | ||
| Q1 24 | — | 41.2% |
营业利润率COINFIVE
| Q4 25 | 15.4% | 4.2% | ||
| Q3 25 | 25.7% | 5.1% | ||
| Q2 25 | -1.6% | 5.2% | ||
| Q1 25 | 34.7% | 17.7% | ||
| Q4 24 | 45.5% | -0.1% | ||
| Q3 24 | 14.1% | 5.0% | ||
| Q2 24 | 23.7% | 4.5% | ||
| Q1 24 | 46.4% | 20.1% |
净利率COINFIVE
| Q4 25 | -37.4% | 3.5% | ||
| Q3 25 | 23.1% | 4.2% | ||
| Q2 25 | 95.4% | 4.2% | ||
| Q1 25 | 3.2% | 13.5% | ||
| Q4 24 | 56.8% | 0.2% | ||
| Q3 24 | 6.3% | 4.0% | ||
| Q2 24 | 2.5% | 3.9% | ||
| Q1 24 | 71.8% | 15.1% |
每股收益（稀释后）COINFIVE
| Q4 25 | $-2.43 | $0.66 | ||
| Q3 25 | $1.50 | $0.77 | ||
| Q2 25 | $5.14 | $0.75 | ||
| Q1 25 | $0.24 | $3.40 | ||
| Q4 24 | $4.66 | $0.03 | ||
| Q3 24 | $0.28 | $0.60 | ||
| Q2 24 | $0.14 | $0.57 | ||
| Q1 24 | $4.40 | $3.64 |
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 | $524.5M |
| 总债务越低越好 | $7.2B | — |
| 股东权益账面价值 | $14.8B | $2.0B |
| 总资产 | $29.7B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.49× | — |
8季度趋势，按日历期对齐
现金及短期投资COINFIVE
| Q4 25 | $11.6B | $524.5M | ||
| Q3 25 | $9.8B | $670.2M | ||
| Q2 25 | $7.5B | $624.0M | ||
| Q1 25 | $8.1B | $528.8M | ||
| Q4 24 | $8.5B | $216.6M | ||
| Q3 24 | $7.7B | $327.7M | ||
| Q2 24 | $7.2B | $369.6M | ||
| Q1 24 | $6.7B | $460.1M |
总债务COINFIVE
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.2B | — | ||
| Q1 24 | $4.2B | — |
股东权益COINFIVE
| Q4 25 | $14.8B | $2.0B | ||
| Q3 25 | $16.0B | $1.9B | ||
| Q2 25 | $12.1B | $1.9B | ||
| Q1 25 | $10.5B | $1.8B | ||
| Q4 24 | $10.3B | $1.6B | ||
| Q3 24 | $8.7B | $1.6B | ||
| Q2 24 | $8.4B | $1.6B | ||
| Q1 24 | $8.1B | $1.6B |
总资产COINFIVE
| Q4 25 | $29.7B | $4.8B | ||
| Q3 25 | $31.4B | $4.6B | ||
| Q2 25 | $23.5B | $4.5B | ||
| Q1 25 | $21.7B | $4.3B | ||
| Q4 24 | $22.5B | $4.2B | ||
| Q3 24 | $290.6B | $4.0B | ||
| Q2 24 | $287.0B | $3.9B | ||
| Q1 24 | $348.0B | $3.9B |
负债/权益比COINFIVE
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.51× | — | ||
| Q1 24 | 0.52× | — |
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 | $-80.1M |
| 自由现金流经营现金流 - 资本支出 | — | $-133.2M |
| 自由现金流率自由现金流/营收 | — | -12.8% |
| 资本支出强度资本支出/营收 | — | 5.1% |
| 现金转化率经营现金流/净利润 | — | -2.19× |
| 过去12个月自由现金流最近4个季度 | — | $323.0M |
8季度趋势，按日历期对齐
经营现金流COINFIVE
| Q4 25 | $3.1B | $-80.1M | ||
| Q3 25 | $-784.5M | $93.0M | ||
| Q2 25 | $328.5M | $132.7M | ||
| Q1 25 | $-182.7M | $363.5M | ||
| Q4 24 | $964.6M | $-30.6M | ||
| Q3 24 | $696.5M | $71.3M | ||
| Q2 24 | $484.2M | $26.4M | ||
| Q1 24 | $411.5M | $407.7M |
自由现金流COINFIVE
| Q4 25 | — | $-133.2M | ||
| Q3 25 | — | $48.3M | ||
| Q2 25 | — | $96.5M | ||
| Q1 25 | — | $311.4M | ||
| Q4 24 | — | $-111.0M | ||
| Q3 24 | — | $-32.4M | ||
| Q2 24 | — | $-61.4M | ||
| Q1 24 | — | $304.6M |
自由现金流率COINFIVE
| Q4 25 | — | -12.8% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 9.9% | ||
| Q1 25 | — | 22.4% | ||
| Q4 24 | — | -13.2% | ||
| Q3 24 | — | -3.9% | ||
| Q2 24 | — | -7.6% | ||
| Q1 24 | — | 22.8% |
资本支出强度COINFIVE
| Q4 25 | — | 5.1% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 12.5% | ||
| Q2 24 | — | 10.8% | ||
| Q1 24 | — | 7.7% |
现金转化率COINFIVE
| Q4 25 | — | -2.19× | ||
| Q3 25 | -1.81× | 2.17× | ||
| Q2 25 | 0.23× | 3.22× | ||
| Q1 25 | -2.79× | 1.94× | ||
| Q4 24 | 0.75× | -18.13× | ||
| Q3 24 | 9.23× | 2.16× | ||
| Q2 24 | 13.39× | 0.84× | ||
| Q1 24 | 0.35× | 2.02× |
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% |
FIVE
暂无分部数据
