Coincheck Group (CNCK)
NASDAQ:CNCK
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Coincheck Group
(NASDAQ:CNCK)
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Rating:43Neutral
Price Target:
$1.50
▲(4.90% Upside)
Action:ReiteratedDate:03/26/26
The score is primarily held down by weak financial fundamentals—especially negative recent operating/free cash flow and elevated leverage—alongside a clear technical downtrend (price below major moving averages and negative MACD). Valuation is not compelling at ~31.9 P/E given profitability and cash-flow volatility.
Positive Factors
User Base Growth
Sustained verified-account growth to ~2.5 million demonstrates durable user acquisition and scale in Japan's retail crypto market. A larger, engaged user base supports recurring transaction revenue, network effects, and cross-sell of staking/marketplace services, underpinning multi-period revenue potential.
Negative Factors
Elevated Leverage
Sharply higher leverage (debt-to-equity ~6x TTM) materially raises balance-sheet risk for a crypto-exposed business. Elevated debt limits financial flexibility, increases refinancing and interest-rate sensitivity, and heightens insolvency risk during prolonged revenue or asset declines.
Read all positive and negative factors
Positive Factors
Negative Factors
User Base Growth
Sustained verified-account growth to ~2.5 million demonstrates durable user acquisition and scale in Japan's retail crypto market. A larger, engaged user base supports recurring transaction revenue, network effects, and cross-sell of staking/marketplace services, underpinning multi-period revenue potential.
Read all positive factors
Coincheck Group (CNCK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$194.38M
Dividend YieldN/A
Average Volume (3M)30.66K
Price to Earnings (P/E)31.9
Beta (1Y)1.23
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees185
SectorFinancial
Sector Strength70
IndustryAsset Management - Cryptocurrency
Share Statistics
EPS (TTM)0.02
Shares Outstanding135,927,120
10 Day Avg. Volume41,440
30 Day Avg. Volume30,657
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)9.17
Price to Sales (P/S)0.26
P/FCF Ratio-37.78
Enterprise Value/Market Cap111.98
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit1.93
Enterprise Value/Ebitda8.37
Forecast
1Y Price Target
$3.85Price Target Upside169.23% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)20.42
Revenue Forecast (FY)$569.60B
Coincheck Group Business Overview & Revenue Model
Company Description
Coincheck Group N.V. operates as a holding company. The Company, through its subsidiaries, operates in the crypto asset and web3 domains, as well as offers cryptocurrency trading services....
How the Company Makes Money
Coincheck Group primarily makes money through its crypto-asset exchange and related platform services operated by its subsidiary Coincheck, Inc. Key revenue streams typically include: (1) transaction-based revenue generated when customers trade cr...
Coincheck Group Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
32
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 475.13B | 383.33B | 224.05B | 176.92B | 690.97B | 524.42B |
| Gross Profit | 11.28B | 10.79B | 6.98B | 5.30B | 24.97B | 18.99B |
| EBITDA | 2.60B | -12.60B | 3.52B | -360.00M | 14.37B | 14.09B |
| Net Income | 25.00M | -14.35B | 1.97B | -559.00M | 9.79B | 10.24B |
Balance Sheet | ||||||
| Total Assets | 128.22B | 112.27B | 119.19B | 71.98B | 540.13B | 486.13B |
| Cash, Cash Equivalents and Short-Term Investments | 10.65B | 8.61B | 10.84B | 8.37B | 17.72B | 66.66B |
| Total Debt | 1.40B | 45.76B | 45.68B | 19.11B | 34.47B | 28.56B |
| Total Liabilities | 113.97B | 101.50B | 106.75B | 61.50B | 524.09B | 473.15B |
| Stockholders Equity | 14.25B | 10.77B | 12.44B | 10.48B | 16.04B | 12.98B |
Cash Flow | ||||||
| Free Cash Flow | -883.00M | -2.62B | 3.59B | -4.19B | 7.18B | 838.00M |
| Operating Cash Flow | -282.00M | -1.92B | 3.90B | -3.80B | 7.40B | 1.03B |
| Investing Cash Flow | -1.12B | -903.00M | -435.00M | -749.00M | -219.00M | -269.00M |
| Financing Cash Flow | -706.00M | 565.00M | -327.00M | -5.46B | -6.65B | -225.00M |
Coincheck Group Technical Analysis
Negative
1.43
Price Trends
2.35
Negative
2.89
Negative
3.89
Negative
Market Momentum
-0.25
Positive
27.93
Positive
1.40
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNCK, the sentiment is Negative. The current price of 1.43 is below the 20-day moving average (MA) of 2.09, below the 50-day MA of 2.35, and below the 200-day MA of 3.89, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 27.93 is Positive, neither overbought nor oversold. The STOCH value of 1.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNCK.
Coincheck Group Risk Analysis
Coincheck Group disclosed 1 risk factors in its most recent earnings report. Coincheck Group reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coincheck Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $293.01M | ― | -33.34% | ― | 29.96% | 66.09% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $622.70M | 11.36 | 11.96% | 0.84% | 8.26% | 94.53% | |
53 Neutral | $300.07M | 5.10 | 14.78% | ― | 93.57% | -106.02% | |
43 Neutral | $194.38M | 31.92 | -1.11% | ― | ― | ― |
* Financial Sector Average
CNCK
Coincheck Group
1.43
-3.47
-70.82%
HIFS
Hingham Institution For Savings
285.61
65.72
29.89%
FOA
Finance of America Companies
17.72
-3.83
-17.77%
FUFU
BitFuFu
1.71
-2.47
-59.09%
Coincheck Group Corporate Events
Coincheck Group Reports Year-Long Trading and Customer Metrics Through February 2026
Mar 4, 2026
On March 3, 2026, Coincheck Group N.V. filed an update disclosing Coincheck, Inc.’s preliminary monthly operating metrics for the 12 months through February 2026, highlighting trading volumes, customer assets and verified account growth. The...
Coincheck Group Files December 2025 Interim Results on Form 6-K
Feb 19, 2026
On February 18, 2026, Coincheck Group N.V. filed a Form 6-K with the U.S. Securities and Exchange Commission for the month of February 2026, furnishing unaudited condensed consolidated interim financial statements as of December 31, 2025 and March...
Coincheck Posts Q3 Profit, Names New CEO as Institutional Crypto Push Accelerates
Feb 12, 2026
Coincheck Group reported third-quarter fiscal 2026 results on February 12, 2026, with total revenue up 17% year-on-year to ¥143.5 billion, driven by the October 2025 acquisition of Paris-based prime broker Aplo, staking income and IEO activit...
Coincheck Group Reports Twelve-Month Trading, Asset and Account Trends Through January 2026
Feb 3, 2026
On February 3, 2026, Coincheck Group N.V. reported preliminary monthly operating metrics for Coincheck, Inc. covering February 2025 through January 2026, highlighting trading activity, customer asset balances and user growth on its crypto exchange...
Coincheck Group to Acquire 3iQ in All-Share Deal to Accelerate Global Digital Asset Expansion
Jan 8, 2026
On January 8, 2026, Coincheck Group N.V. announced it had signed a stock purchase agreement with majority shareholder Monex Group to acquire approximately 97% beneficial ownership of Canadian digital asset manager 3iQ Corp. in an all‑share d...
Coincheck Group Reports Unaudited 2025 Monthly Metrics, Highlighting Continued Account Growth
Jan 6, 2026
On January 6, 2026, Coincheck Group filed a Form 6-K providing a preliminary monthly performance snapshot for Coincheck, Inc. over the twelve months of 2025, disclosing exchange and marketplace trading volumes, customer assets and verified account...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.