Latest Ratios: P/E Ratio -28.0x · EV/EBITDA N/A · ROE -11.9%. (2020–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $336M | $201M | $659M | $104M | $306M | $299M | — | — |
| Enterprise Value | $-25877688 | $-58329615680 | $37.8B | $34.9B | $11.7B | $17.1B | — | — |
| P/E Ratio → | -27.96 | — | — | 0.05 | — | 0.03 | — | — |
| P/S Ratio | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
| P/B Ratio | 2.49 | 0.01 | 0.06 | 0.01 | 0.03 | 0.02 | — | — |
| P/FCF | — | — | — | 0.03 | — | 0.04 | — | — |
| P/OCF | — | — | — | 0.03 | — | 0.04 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.11 | 0.10 | 0.16 | 0.07 | 0.02 | — | — |
| EV / EBITDA | — | — | 11.70 | — | — | 1.19 | — | — |
| EV / EBIT | — | — | — | 12.28 | — | 1.23 | — | — |
| EV / FCF | — | — | — | 9.72 | — | 2.38 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 2.7% | 2.7% | 2.8% | 3.1% | 3.0% | 3.6% | 3.6% | 70.3% |
| Operating Margin | -0.3% | -0.3% | 0.7% | -0.4% | -0.4% | 2.0% | 2.6% | 6.3% |
| Net Profit Margin | -0.4% | -0.4% | -3.7% | 0.9% | -0.3% | 1.4% | 2.0% | 3.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| ROE | -11.9% | -11.9% | -123.6% | 17.2% | -4.2% | 67.5% | 130.8% | 5.2% |
| ROA | -1.7% | -1.7% | -12.4% | 2.1% | -0.2% | 1.9% | 3.6% | 0.2% |
| ROIC | -2.8% | -2.8% | 3.3% | -1.7% | -1.3% | 22.6% | 43.1% | 3.0% |
| ROCE | -1.3% | -1.3% | 19.2% | -8.0% | -5.3% | 94.2% | 168.4% | 8.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 4.25 | 3.67 | 1.82 | 2.15 | 2.20 | 1.26 |
| Debt / EBITDA | — | — | 14.15 | — | — | 2.41 | 2.03 | 4.21 |
| Net Debt / Equity | — | -2.68 | 3.45 | 2.80 | 1.09 | 1.05 | 0.88 | -4.93 |
| Net Debt / EBITDA | — | — | 11.50 | — | — | 1.17 | 0.81 | -16.47 |
| Debt / FCF | — | — | — | 9.70 | — | 2.33 | 13.60 | -3.95 |
| Interest Coverage | -3.92 | -3.92 | -380.69 | 474.33 | -281.00 | 6960.00 | 1368.50 | 70.67 |
Net cash position: cash ($59.7B) exceeds total debt ($1.2B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 1.07 | 1.09 | 1.13 | 1.03 | 1.02 | 1.02 |
| Quick Ratio | — | — | 1.07 | 1.09 | 1.13 | 1.03 | 1.02 | 1.02 |
| Cash Ratio | — | — | 0.09 | 0.10 | 0.13 | 0.03 | 0.04 | 0.23 |
| Asset Turnover | — | 4.33 | 3.41 | 1.88 | 2.46 | 1.28 | 1.08 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 71.5% | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 1895.0% | — | 3281.3% | — | — |
| FCF Yield | — | — | — | 3462.3% | — | 2405.9% | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $136M | $130M | $10M | $30M | $30M | $127M | $127M |
Principal trading volatility exposure
Based on reported financial statements, CNCK trades at a P/S ratio of 0.10, which appears to discount the company's massive gross revenue figures in favor of a more cautious assessment of its underlying profitability and the inherent risks of its principal-based trading model in Japan.
The low P/S multiple suggests that investors are correctly identifying the gross revenue figure as a pass-through metric rather than a reflection of sustainable economic value. Given the negative TTM P/E of -25.33, the market appears to be pricing the firm as a distressed asset rather than a growth-oriented fintech, reflecting deep skepticism regarding the company's ability to achieve consistent positive net margins.
As indicated by recent financial filings, CNCK's ROIC has exhibited extreme instability, swinging from a high of 77.9% in 2025Q2 to a negative 5.5% in 2026Q4, which highlights the company's inability to compound capital effectively within the constraints of the Japanese regulatory environment.
The erratic nature of these returns suggests that the company's capital base is highly sensitive to transient crypto market valuations rather than operational efficiency. Investors should monitor whether management can stabilize these returns, as the current trend indicates that capital is being deployed into a business model that struggles to generate value above its cost of capital.
According to reported figures, CNCK's asset turnover ratio has fluctuated significantly, reaching an anomalous 2037.11 in 2025Q2 before normalizing to 0.99 in 2026Q4, which suggests that the company's asset base is heavily distorted by non-operational items and rapid changes in crypto asset holdings.
The lack of consistency in asset turnover indicates that the company's operational efficiency is difficult to measure using traditional metrics. This volatility implies that the firm's asset base is not being utilized in a predictable manner to drive revenue, further complicating the assessment of its long-term operational leverage.
Based on the provided data, CNCK's interest coverage ratio has shown extreme volatility, ranging from a high of 561.80 in 2024Q4 to a negative 27.74 in 2026Q4, which suggests that the company's ability to service its debt is highly dependent on unpredictable market-driven income.
The frequent swings into negative interest coverage indicate that the company may face significant refinancing risks during periods of market downturns. Investors should be wary of the company's reliance on debt to manage liquidity, as the current leverage profile appears to be a reactive measure rather than a strategic capital structure.
The most commonly misapplied ratio for CNCK is the Price-to-Sales (P/S) multiple, which, as reported in financial statements, obscures the fact that the company's revenue is largely a function of gross principal accounting rather than a reflection of its actual commission-based earning power.
Using P/S to value CNCK leads to a fundamental misunderstanding of the company's scale, as it treats pass-through crypto trading volume as if it were high-margin service revenue. Analysts should instead focus on net revenue or gross profit margins to gain a clearer understanding of the firm's true economic contribution and its ability to cover fixed regulatory and operational costs.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CNCK stock.
Coincheck Group N.V.'s current P/E ratio is -28.0x. The historical average is 0.0x.
Coincheck Group N.V.'s return on equity (ROE) is -11.9%. The historical average is 11.6%.
Based on historical data, Coincheck Group N.V. is trading at a P/E of -28.0x. Compare with industry peers and growth rates for a complete picture.
Coincheck Group N.V. has 2.7% gross margin and -0.3% operating margin.