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Coinbase Global vs Nu: revenue, profit, margins and growth compared

Coinbase Global brought in $7.2B of revenue in fiscal 2025, Nu $11.5B in fiscal 2024. Revenue changed by +9.4% at Coinbase Global and +43.4% at Nu on the year before, so Nu grew faster. Coinbase Global kept 17.6% of its revenue as net profit, Nu 17.1%.

Side by side, latest fiscal year

COINNU
Fiscal year endedFY2025 (December 31, 2025)FY2024 (December 31, 2024)
Revenue$7.2B$11.5B
Revenue growth+9.4%+43.4%
Net income$1.3B$2B
Net margin17.6%17.1%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$4.45$0.40
Cash$11.3B$9.2B
Debt$7.2B$1.7B
Price to earnings43.8n/a
Market value$51.5B$66B
Dividend yieldn/an/a
Rank by revenue in sector#76 of 444 · Finance#59 of 444 · Finance

Over the years

Revenue
COIN FY2019: $533.7MCOIN FY2021: $1.3BCOIN FY2021: $7.8BCOIN FY2022: $3.2BCOIN FY2023: $3.1BCOIN FY2024: $6.6BCOIN FY2025: $7.2BNU FY2019: $612.1MNU FY2021: $737.1MNU FY2021: $1.7BNU FY2022: $4.8BNU FY2023: $8BNU FY2024: $11.5BFY19FY21FY22FY23FY24FY25
COIN $7.2BNU $11.5B
Net income
COIN FY2019: -$30.4MCOIN FY2021: $322.3MCOIN FY2021: $3.6BCOIN FY2022: -$2.6BCOIN FY2023: $94.9MCOIN FY2024: $2.6BCOIN FY2025: $1.3BNU FY2019: -$92.5MNU FY2021: -$171.5MNU FY2021: -$165MNU FY2022: -$364.6MNU FY2023: $1BNU FY2024: $2BFY19FY21FY22FY23FY24FY25
COIN $1.3BNU $2B
Net margin
COIN FY2019: -5.7%COIN FY2021: 25.2%COIN FY2021: 46.2%COIN FY2022: -82.2%COIN FY2023: 3.1%COIN FY2024: 39.3%COIN FY2025: 17.6%NU FY2019: -15.1%NU FY2021: -23.3%NU FY2021: -9.7%NU FY2022: -7.6%NU FY2023: 12.8%NU FY2024: 17.1%FY19FY21FY22FY23FY24FY25
COIN 17.6%NU 17.1%
Revenue growth
COIN FY2021: +139.3%COIN FY2021: +513.7%COIN FY2022: -59.3%COIN FY2023: -2.7%COIN FY2024: +111.2%COIN FY2025: +9.4%NU FY2021: +20.4%NU FY2021: +130.4%NU FY2022: +182.2%NU FY2023: +67.5%NU FY2024: +43.4%FY21FY22FY23FY24FY25
COIN +9.4%NU +43.4%
Free cash flow
COIN FY2019: -$114.1MCOIN FY2021: $283.6MCOIN FY2021: $4BCOIN FY2022: -$1.6BFY19FY21FY22
COIN -$1.6BNU

Fiscal years as each company reports them; the two may end in different months.

Questions about Coinbase Global and Nu

Which is bigger by revenue, Coinbase Global or Nu?

Nu is bigger by revenue: $11.5B in fiscal 2024, against $7.2B for Coinbase Global in fiscal 2025.

Which keeps more of its revenue as profit, Coinbase Global or Nu?

Coinbase Global had a net margin of 17.6% in fiscal 2025; Nu had 17.1% in fiscal 2024.

Which grew revenue faster, Coinbase Global or Nu?

In their latest fiscal years revenue changed by +9.4% at Coinbase Global and +43.4% at Nu.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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