vs
Coinbase（COIN）与摩森康胜饮品公司（TAP）财务数据对比。点击上方公司名可切换其他公司
摩森康胜饮品公司的季度营收约是Coinbase的1.8倍（$3.1B vs $1.8B），摩森康胜饮品公司净利率更高（7.6% vs -37.4%，领先45.1%），摩森康胜饮品公司同比增速更快（-3.6% vs -21.6%），过去两年Coinbase的营收复合增速更高（4.3% vs 1.2%）
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。
摩森康胜饮品公司是一家美加合资的跨国饮料酿造企业，旗下拥有多款知名酒精及非酒精饮品产品线，业务覆盖全球多个国家和地区，目前在伊利诺伊州芝加哥与魁北克省蒙特利尔设有双总部。
COIN vs TAP — 直观对比
营收规模更大
TAP
是对方的1.8倍
$1.8B
营收增速更快
TAP
高出18.0%
-21.6%
净利率更高
TAP
高出45.1%
-37.4%
两年增速更快
COIN
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.1B |
| 净利润 | $-666.7M | $238.3M |
| 毛利率 | — | 31.0% |
| 营业利润率 | 15.4% | 10.4% |
| 净利率 | -37.4% | 7.6% |
| 营收同比 | -21.6% | -3.6% |
| 净利润同比 | -151.6% | -17.2% |
| 每股收益（稀释后） | $-2.43 | $1.32 |
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COINTAP
| Q4 25 | $1.8B | $3.1B | ||
| Q3 25 | $1.9B | $3.5B | ||
| Q2 25 | $1.5B | $3.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $2.3B | $3.2B | ||
| Q3 24 | $1.2B | $3.6B | ||
| Q2 24 | $1.4B | $3.8B | ||
| Q1 24 | $1.6B | $3.0B |
净利润COINTAP
| Q4 25 | $-666.7M | $238.3M | ||
| Q3 25 | $432.6M | $-2.9B | ||
| Q2 25 | $1.4B | $428.7M | ||
| Q1 25 | $65.6M | $121.0M | ||
| Q4 24 | $1.3B | $287.8M | ||
| Q3 24 | $75.5M | $199.8M | ||
| Q2 24 | $36.1M | $427.0M | ||
| Q1 24 | $1.2B | $207.8M |
毛利率COINTAP
| Q4 25 | — | 31.0% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 34.3% | ||
| Q1 25 | — | 31.6% | ||
| Q4 24 | — | 32.0% | ||
| Q3 24 | — | 33.4% | ||
| Q2 24 | — | 34.6% | ||
| Q1 24 | — | 31.6% |
营业利润率COINTAP
| Q4 25 | 15.4% | 10.4% | ||
| Q3 25 | 25.7% | -98.5% | ||
| Q2 25 | -1.6% | 15.6% | ||
| Q1 25 | 34.7% | 6.9% | ||
| Q4 24 | 45.5% | 12.0% | ||
| Q3 24 | 14.1% | 12.5% | ||
| Q2 24 | 23.7% | 15.6% | ||
| Q1 24 | 46.4% | 10.3% |
净利率COINTAP
| Q4 25 | -37.4% | 7.6% | ||
| Q3 25 | 23.1% | -84.0% | ||
| Q2 25 | 95.4% | 11.5% | ||
| Q1 25 | 3.2% | 4.5% | ||
| Q4 24 | 56.8% | 8.9% | ||
| Q3 24 | 6.3% | 5.5% | ||
| Q2 24 | 2.5% | 11.1% | ||
| Q1 24 | 71.8% | 6.8% |
每股收益（稀释后）COINTAP
| Q4 25 | $-2.43 | $1.32 | ||
| Q3 25 | $1.50 | $-14.79 | ||
| Q2 25 | $5.14 | $2.13 | ||
| Q1 25 | $0.24 | $0.59 | ||
| Q4 24 | $4.66 | $1.39 | ||
| Q3 24 | $0.28 | $0.96 | ||
| Q2 24 | $0.14 | $2.03 | ||
| Q1 24 | $4.40 | $0.97 |
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 | $896.5M |
| 总债务越低越好 | $7.2B | $6.3B |
| 股东权益账面价值 | $14.8B | $10.2B |
| 总资产 | $29.7B | $22.7B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资COINTAP
| Q4 25 | $11.6B | $896.5M | ||
| Q3 25 | $9.8B | $950.2M | ||
| Q2 25 | $7.5B | $613.8M | ||
| Q1 25 | $8.1B | $412.7M | ||
| Q4 24 | $8.5B | $969.3M | ||
| Q3 24 | $7.7B | $1.0B | ||
| Q2 24 | $7.2B | $1.6B | ||
| Q1 24 | $6.7B | $458.4M |
总债务COINTAP
| Q4 25 | $7.2B | $6.3B | ||
| Q3 25 | $7.2B | $6.3B | ||
| Q2 25 | $4.2B | $6.3B | ||
| Q1 25 | $4.2B | $6.2B | ||
| Q4 24 | $4.2B | $6.1B | ||
| Q3 24 | $4.2B | $6.2B | ||
| Q2 24 | $4.2B | $7.0B | ||
| Q1 24 | $4.2B | $6.2B |
股东权益COINTAP
| Q4 25 | $14.8B | $10.2B | ||
| Q3 25 | $16.0B | $10.3B | ||
| Q2 25 | $12.1B | $13.4B | ||
| Q1 25 | $10.5B | $13.1B | ||
| Q4 24 | $10.3B | $13.1B | ||
| Q3 24 | $8.7B | $13.3B | ||
| Q2 24 | $8.4B | $13.2B | ||
| Q1 24 | $8.1B | $13.1B |
总资产COINTAP
| Q4 25 | $29.7B | $22.7B | ||
| Q3 25 | $31.4B | $22.9B | ||
| Q2 25 | $23.5B | $26.8B | ||
| Q1 25 | $21.7B | $25.9B | ||
| Q4 24 | $22.5B | $26.1B | ||
| Q3 24 | $290.6B | $26.6B | ||
| Q2 24 | $287.0B | $27.4B | ||
| Q1 24 | $348.0B | $26.1B |
负债/权益比COINTAP
| Q4 25 | 0.49× | 0.61× | ||
| Q3 25 | 0.45× | 0.61× | ||
| Q2 25 | 0.35× | 0.47× | ||
| Q1 25 | 0.40× | 0.47× | ||
| Q4 24 | 0.41× | 0.47× | ||
| Q3 24 | 0.48× | 0.47× | ||
| Q2 24 | 0.51× | 0.53× | ||
| Q1 24 | 0.52× | 0.47× |
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 | $540.7M |
| 自由现金流经营现金流 - 资本支出 | — | $357.8M |
| 自由现金流率自由现金流/营收 | — | 11.4% |
| 资本支出强度资本支出/营收 | — | 5.9% |
| 现金转化率经营现金流/净利润 | — | 2.27× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流COINTAP
| Q4 25 | $3.1B | $540.7M | ||
| Q3 25 | $-784.5M | $616.1M | ||
| Q2 25 | $328.5M | $718.3M | ||
| Q1 25 | $-182.7M | $-90.7M | ||
| Q4 24 | $964.6M | $494.5M | ||
| Q3 24 | $696.5M | $521.2M | ||
| Q2 24 | $484.2M | $869.2M | ||
| Q1 24 | $411.5M | $25.4M |
自由现金流COINTAP
| Q4 25 | — | $357.8M | ||
| Q3 25 | — | $483.0M | ||
| Q2 25 | — | $555.0M | ||
| Q1 25 | — | $-328.0M | ||
| Q4 24 | — | $383.4M | ||
| Q3 24 | — | $350.4M | ||
| Q2 24 | — | $691.7M | ||
| Q1 24 | — | $-189.3M |
自由现金流率COINTAP
| Q4 25 | — | 11.4% | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | -12.2% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 9.7% | ||
| Q2 24 | — | 18.0% | ||
| Q1 24 | — | -6.2% |
资本支出强度COINTAP
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 4.6% | ||
| Q1 24 | — | 7.0% |
现金转化率COINTAP
| Q4 25 | — | 2.27× | ||
| Q3 25 | -1.81× | — | ||
| Q2 25 | 0.23× | 1.68× | ||
| Q1 25 | -2.79× | -0.75× | ||
| Q4 24 | 0.75× | 1.72× | ||
| Q3 24 | 9.23× | 2.61× | ||
| Q2 24 | 13.39× | 2.04× | ||
| Q1 24 | 0.35× | 0.12× |
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% |
TAP
暂无分部数据
