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Coinbase（COIN）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Coinbase的1.1倍（$1.9B vs $1.8B），Masco净利率更高（11.9% vs -37.4%，领先49.3%），Masco同比增速更快（6.5% vs -21.6%），过去两年Coinbase的营收复合增速更高（4.3% vs -4.2%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
COIN vs MAS — 直观对比
营收规模更大
MAS
是对方的1.1倍
$1.8B
营收增速更快
MAS
高出28.1%
-21.6%
净利率更高
MAS
高出49.3%
-37.4%
两年增速更快
COIN
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.9B |
| 净利润 | $-666.7M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | 15.4% | 16.5% |
| 净利率 | -37.4% | 11.9% |
| 营收同比 | -21.6% | 6.5% |
| 净利润同比 | -151.6% | 14.5% |
| 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COINMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.9B | $1.9B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.4B | $2.1B |
净利润COINMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $-666.7M | $165.0M | ||
| Q3 25 | $432.6M | $189.0M | ||
| Q2 25 | $1.4B | $270.0M | ||
| Q1 25 | $65.6M | $186.0M | ||
| Q4 24 | $1.3B | $182.0M | ||
| Q3 24 | $75.5M | $167.0M | ||
| Q2 24 | $36.1M | $258.0M |
毛利率COINMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率COINMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | 15.4% | 13.8% | ||
| Q3 25 | 25.7% | 15.8% | ||
| Q2 25 | -1.6% | 20.1% | ||
| Q1 25 | 34.7% | 15.9% | ||
| Q4 24 | 45.5% | 15.9% | ||
| Q3 24 | 14.1% | 18.0% | ||
| Q2 24 | 23.7% | 19.0% |
净利率COINMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | -37.4% | 9.2% | ||
| Q3 25 | 23.1% | 9.9% | ||
| Q2 25 | 95.4% | 13.2% | ||
| Q1 25 | 3.2% | 10.3% | ||
| Q4 24 | 56.8% | 10.0% | ||
| Q3 24 | 6.3% | 8.4% | ||
| Q2 24 | 2.5% | 12.3% |
每股收益（稀释后）COINMAS
| Q1 26 | — | — | ||
| Q4 25 | $-2.43 | $0.81 | ||
| Q3 25 | $1.50 | $0.90 | ||
| Q2 25 | $5.14 | $1.28 | ||
| Q1 25 | $0.24 | $0.87 | ||
| Q4 24 | $4.66 | $0.85 | ||
| Q3 24 | $0.28 | $0.77 | ||
| Q2 24 | $0.14 | $1.17 |
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 | $2.9B |
| 股东权益账面价值 | $14.8B | $27.0M |
| 总资产 | $29.7B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.49× | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资COINMAS
| Q1 26 | — | — | ||
| Q4 25 | $11.6B | $647.0M | ||
| Q3 25 | $9.8B | $559.0M | ||
| Q2 25 | $7.5B | $390.0M | ||
| Q1 25 | $8.1B | $377.0M | ||
| Q4 24 | $8.5B | $634.0M | ||
| Q3 24 | $7.7B | $646.0M | ||
| Q2 24 | $7.2B | $398.0M |
总债务COINMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $7.2B | $2.9B | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.2B | $2.9B | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.2B | — |
股东权益COINMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $14.8B | $-185.0M | ||
| Q3 25 | $16.0B | $-78.0M | ||
| Q2 25 | $12.1B | $-84.0M | ||
| Q1 25 | $10.5B | $-254.0M | ||
| Q4 24 | $10.3B | $-279.0M | ||
| Q3 24 | $8.7B | $-88.0M | ||
| Q2 24 | $8.4B | $-26.0M |
总资产COINMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $29.7B | $5.2B | ||
| Q3 25 | $31.4B | $5.3B | ||
| Q2 25 | $23.5B | $5.3B | ||
| Q1 25 | $21.7B | $5.1B | ||
| Q4 24 | $22.5B | $5.0B | ||
| Q3 24 | $290.6B | $5.3B | ||
| Q2 24 | $287.0B | $5.4B |
负债/权益比COINMAS
| Q1 26 | — | 109.07× | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流COINMAS
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $418.0M | ||
| Q3 25 | $-784.5M | $456.0M | ||
| Q2 25 | $328.5M | $306.0M | ||
| Q1 25 | $-182.7M | $-158.0M | ||
| Q4 24 | $964.6M | $407.0M | ||
| Q3 24 | $696.5M | $416.0M | ||
| Q2 24 | $484.2M | $346.0M |
自由现金流COINMAS
| Q1 26 | — | — | ||
| Q4 25 | — | $371.0M | ||
| Q3 25 | — | $415.0M | ||
| Q2 25 | — | $270.0M | ||
| Q1 25 | — | $-190.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $378.0M | ||
| Q2 24 | — | $303.0M |
自由现金流率COINMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 20.7% | ||
| Q3 25 | — | 21.6% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | -10.5% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 19.1% | ||
| Q2 24 | — | 14.5% |
资本支出强度COINMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 2.1% |
现金转化率COINMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 2.53× | ||
| Q3 25 | -1.81× | 2.41× | ||
| Q2 25 | 0.23× | 1.13× | ||
| Q1 25 | -2.79× | -0.85× | ||
| Q4 24 | 0.75× | 2.24× | ||
| Q3 24 | 9.23× | 2.49× | ||
| Q2 24 | 13.39× | 1.34× |
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% |
MAS
暂无分部数据
