EBITDAEarnings Before Interest, Taxes, Depreciation, and Amortization — a measure of operating profitability before financing and accounting decisions. EV/EBITDA compares a company's full value (including debt) to this figure, often used to compare companies with different capital structures.
PEG ratioPrice/Earnings-to-Growth: the P/E ratio divided by expected earnings growth. Below 1.0 is often read as cheap relative to growth; above suggests the market is pricing in a lot of future growth already. Different providers use different growth-rate assumptions, so figures vary by source.
3.26
Capex
Minimal — asset-light business model
Fundamentals sourced as cited below; figures vary slightly by provider and reporting date, consistent with real-world data variance across sources. EBITDA, PEG ratio, and capex sourced from public filings and financial-data aggregators (GuruFocus, StockAnalysis, company earnings releases). PEG ratio is sourced primarily from GuruFocus where available; different providers calculate PEG using different growth-rate assumptions (trailing vs. forward, 1-year vs. 5-year), so figures from other sources for the same stock can vary by several multiples — a known limitation of PEG as a metric, not unique to any name here.
Why it's on the list
Coinbase is the primary regulated on-ramp for crypto in the U.S., and I already carry real BTC and ETH exposure through the market-snapshot ticker's proxy instruments — Coinbase would be a way to own the infrastructure layer around that exposure rather than just the assets themselves.
Why it's not in the book yet
Coinbase's revenue is still heavily tied to trading volume and crypto-price volatility, which makes it a leveraged bet on crypto sentiment more than a diversifying position — closer to adding risk than spreading it.
What would move me to buy
Continued growth in Coinbase's non-trading revenue (subscriptions, custody, stablecoin infrastructure) reducing that correlation to raw trading volume.
Sources: public.com, fullratio.com, financecharts.com, SEC Form 8-K (as of June 16, 2026). This is a watchlist entry, not a position — see Watchlist for the full list and Investment Policy Statement for what it takes for a name to become a real position. Not investment advice.