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Coinbase（COIN）与GoDaddy（GDDY）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GoDaddy的1.4倍（$1.8B vs $1.3B），GoDaddy净利率更高（19.2% vs -37.4%，领先56.7%），GoDaddy同比增速更快（6.8% vs -21.6%），过去两年GoDaddy的营收复合增速更高（7.2% 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。
GoDaddy是美国上市的互联网域名注册管理、域名服务及网络托管服务商，总部位于亚利桑那州坦佩。2023年按市场份额计为全球第五大网络主机服务商，管理超6200万个注册域名，旗下2000万用户中绝大多数为中小微企业，是全球领先的互联网基础服务供应商。
COIN vs GDDY — 直观对比
营收规模更大
COIN
是对方的1.4倍
$1.3B
营收增速更快
GDDY
高出28.4%
-21.6%
净利率更高
GDDY
高出56.7%
-37.4%
两年增速更快
GDDY
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.3B |
| 净利润 | $-666.7M | $245.1M |
| 毛利率 | — | — |
| 营业利润率 | 15.4% | 24.9% |
| 净利率 | -37.4% | 19.2% |
| 营收同比 | -21.6% | 6.8% |
| 净利润同比 | -151.6% | 23.4% |
| 每股收益（稀释后） | $-2.43 | — |
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COINGDDY
| Q4 25 | $1.8B | $1.3B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $2.0B | $1.2B | ||
| Q4 24 | $2.3B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.6B | $1.1B |
净利润COINGDDY
| Q4 25 | $-666.7M | $245.1M | ||
| Q3 25 | $432.6M | $210.5M | ||
| Q2 25 | $1.4B | $199.9M | ||
| Q1 25 | $65.6M | $219.5M | ||
| Q4 24 | $1.3B | $198.6M | ||
| Q3 24 | $75.5M | $190.5M | ||
| Q2 24 | $36.1M | $146.3M | ||
| Q1 24 | $1.2B | $401.5M |
营业利润率COINGDDY
| Q4 25 | 15.4% | 24.9% | ||
| Q3 25 | 25.7% | 23.4% | ||
| Q2 25 | -1.6% | 21.9% | ||
| Q1 25 | 34.7% | 20.7% | ||
| Q4 24 | 45.5% | 21.4% | ||
| Q3 24 | 14.1% | 22.1% | ||
| Q2 24 | 23.7% | 18.5% | ||
| Q1 24 | 46.4% | 15.9% |
净利率COINGDDY
| Q4 25 | -37.4% | 19.2% | ||
| Q3 25 | 23.1% | 16.6% | ||
| Q2 25 | 95.4% | 16.4% | ||
| Q1 25 | 3.2% | 18.4% | ||
| Q4 24 | 56.8% | 16.7% | ||
| Q3 24 | 6.3% | 16.6% | ||
| Q2 24 | 2.5% | 13.0% | ||
| Q1 24 | 71.8% | 36.2% |
每股收益（稀释后）COINGDDY
| Q4 25 | $-2.43 | — | ||
| Q3 25 | $1.50 | $1.51 | ||
| Q2 25 | $5.14 | $1.41 | ||
| Q1 25 | $0.24 | — | ||
| Q4 24 | $4.66 | — | ||
| Q3 24 | $0.28 | $1.32 | ||
| Q2 24 | $0.14 | $1.01 | ||
| Q1 24 | $4.40 | — |
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 | — |
| 总债务越低越好 | $7.2B | — |
| 股东权益账面价值 | $14.8B | $215.1M |
| 总资产 | $29.7B | $8.0B |
| 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COINGDDY
| Q4 25 | $11.6B | — | ||
| Q3 25 | $9.8B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $8.1B | — | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | $7.7B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $6.7B | — |
总债务COINGDDY
| 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COINGDDY
| Q4 25 | $14.8B | $215.1M | ||
| Q3 25 | $16.0B | $91.8M | ||
| Q2 25 | $12.1B | $404.4M | ||
| Q1 25 | $10.5B | $199.7M | ||
| Q4 24 | $10.3B | $692.1M | ||
| Q3 24 | $8.7B | $356.7M | ||
| Q2 24 | $8.4B | $157.0M | ||
| Q1 24 | $8.1B | $414.8M |
总资产COINGDDY
| Q4 25 | $29.7B | $8.0B | ||
| Q3 25 | $31.4B | $8.0B | ||
| Q2 25 | $23.5B | $8.3B | ||
| Q1 25 | $21.7B | $7.8B | ||
| Q4 24 | $22.5B | $8.2B | ||
| Q3 24 | $290.6B | $8.0B | ||
| Q2 24 | $287.0B | $7.7B | ||
| Q1 24 | $348.0B | $8.0B |
负债/权益比COINGDDY
| 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 | $370.6M |
| 自由现金流经营现金流 - 资本支出 | — | $363.7M |
| 自由现金流率自由现金流/营收 | — | 28.6% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | $1.6B |
8季度趋势，按日历期对齐
经营现金流COINGDDY
| Q4 25 | $3.1B | $370.6M | ||
| Q3 25 | $-784.5M | $444.2M | ||
| Q2 25 | $328.5M | $379.9M | ||
| Q1 25 | $-182.7M | $404.7M | ||
| Q4 24 | $964.6M | $340.5M | ||
| Q3 24 | $696.5M | $355.2M | ||
| Q2 24 | $484.2M | $294.8M | ||
| Q1 24 | $411.5M | $297.2M |
自由现金流COINGDDY
| Q4 25 | — | $363.7M | ||
| Q3 25 | — | $434.9M | ||
| Q2 25 | — | $375.8M | ||
| Q1 25 | — | $401.1M | ||
| Q4 24 | — | $326.1M | ||
| Q3 24 | — | $350.2M | ||
| Q2 24 | — | $292.0M | ||
| Q1 24 | — | $292.8M |
自由现金流率COINGDDY
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 34.4% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.6% | ||
| Q4 24 | — | 27.3% | ||
| Q3 24 | — | 30.5% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | 26.4% |
资本支出强度COINGDDY
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.4% |
现金转化率COINGDDY
| Q4 25 | — | 1.51× | ||
| Q3 25 | -1.81× | 2.11× | ||
| Q2 25 | 0.23× | 1.90× | ||
| Q1 25 | -2.79× | 1.84× | ||
| Q4 24 | 0.75× | 1.71× | ||
| Q3 24 | 9.23× | 1.86× | ||
| Q2 24 | 13.39× | 2.02× | ||
| Q1 24 | 0.35× | 0.74× |
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% |
GDDY
| Domains | $586.5M | 46% |
| Applications And Commerce | $497.7M | 39% |
| Other | $189.7M | 15% |
