Overview
Coinbase's balance sheet reflects its financial health, liquidity, and operational efficiency. Below is a structured breakdown of its key components, including assets, liabilities, and shareholders' equity.
Balance Sheet Breakdown
Assets
| Category | TTM (Mar '25) | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|----------------------------|-------------------|------------|------------|------------|------------|------------|
| Cash & Equivalents | $8,051M | $8,544M | $5,139M | $4,425M | $7,123M | $1,062M |
| Short-Term Investments | - | - | - | - | $9.66M | - |
| Receivables | $705.35M | $746.15M | $425.44M | $464.82M | $365.94M | $189.47M |
| Total Current Assets | $17,454M | $18,113M | $11,357M | $86,448M | $18,374M | $5,134M |
| Property, Plant & Equipment | $302.11M | $281.23M | $205.29M | $241.21M | $157.62M | $150.10M |
| Goodwill | $1,154M | $1,140M | $1,140M | $1,074M | $625.76M | $77.21M |
👉 Explore Coinbase’s financial performance trends
Liabilities & Equity
| Category | TTM (Mar '25) | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|----------------------------|-------------------|------------|------------|------------|------------|------------|
| Total Current Liabilities | $6,933M | $7,941M | $5,485M | $80,815M | $11,419M | $4,247M |
| Long-Term Debt | $4,237M | $4,234M | $2,980M | $3,393M | $3,385M | - |
| Total Liabilities | $11,263M | $12,265M | $8,472M | $84,270M | $14,893M | $4,329M |
| Shareholders’ Equity | $10,468M | $10,277M | $6,282M | $5,455M | $6,382M | $963.58M |
Key Financial Metrics
Cash Position & Liquidity
- Cash Growth (YoY): 19.96% (TTM) vs. 66.25% (FY 2024)
- Net Cash: $3,456M (TTM)
- Working Capital: $10,520M (TTM)
👉 Learn how Coinbase manages liquidity
Debt & Leverage
- Total Debt: $4,595M (TTM)
- Debt-to-Equity Ratio (TTM): ~0.43
Shareholder Equity
- Book Value Per Share: $41.12 (TTM)
- Tangible Book Value: $9,268M (TTM)
FAQs
1. What does Coinbase’s cash position indicate?
A strong cash reserve ($8B+) suggests liquidity for expansions, acquisitions, or market volatility resilience.
2. How does Coinbase manage its debt?
With a moderate long-term debt ($4.2B) and net cash growth (56.77% TTM), Coinbase maintains a balanced leverage strategy.
3. What impacts Coinbase’s shareholder equity?
Retained earnings ($5B TTM) and capital injections drive equity growth, supporting investor confidence.
4. Is Coinbase’s balance sheet improving?
Yes, with rising net cash and reduced liabilities (vs. FY 2022), Coinbase shows stronger financial stability.
Conclusion
Coinbase’s balance sheet highlights robust liquidity, controlled leverage, and growing equity—key indicators of its financial resilience in the crypto market.
(Source: S&P Global Market Intelligence)