COIN — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($166.02)
DCF	$118.95	-28.3%
Graham Number	$74.36	-55.2%
Reverse DCF	—	implied g: 11.5%
DDM	—	—
EV/EBITDA	$196.56	+18.4%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.30B

Near-term growth (yrs 1–5)(%)Rev: -22.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 20.98%

Computed WACC: 20.98%

Cost of equity (Re)24.67%(Rf 4.30% + β 3.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)85.07%

Debt weight (D/V)14.93%

Results

Intrinsic Value / share$52.07

Current Price$166.02

Upside / Downside-68.6%

Net Debt (used)-$3.74B

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$119.83	$140.68	$164.93	$192.99	$225.32
8.0%	$101.49	$118.27	$137.76	$160.28	$186.20
9.0%	$88.78	$102.75	$118.95	$137.66	$159.15
10.0%	$79.45	$91.37	$105.17	$121.08	$139.34
11.0%	$72.31	$82.66	$94.64	$108.42	$124.23

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $4.45

Book Value / share($)Yahoo: $55.23

Results

Graham Number$74.36

Current Price$166.02

Margin of Safety-55.2%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 20.98%

Terminal growth rate(%)

Computed WACC: 20.98%

Cost of equity (Re)24.67%(Rf 4.30% + β 3.70 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)85.07%

Debt weight (D/V)14.93%

Results

Current Price$166.02

Implied Near-term FCF Growth37.2%

Historical Revenue Growth-22.2%

Historical Earnings Growth—

Base FCF (TTM)$1.30B

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$166.02

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.67B

Target EV/EBITDA multipleCurrent: 24.0×

Net Debt($B)Default: -$3.74B

Results

Implied Equity Value / share$196.56

Current Price$166.02

Upside / Downside+18.4%

Implied EV$40.10B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$5.74B	-$4.74B	-$3.74B	-$2.74B	-$1.74B
20.0x	$175.56	$171.08	$166.59	$162.11	$157.63
22.0x	$190.55	$186.06	$181.58	$177.09	$172.61
24.0x	$205.53	$201.05	$196.56	$192.08	$187.60
26.0x	$220.52	$216.03	$211.55	$207.07	$202.58
28.0x	$235.50	$231.02	$226.53	$222.05	$217.57

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