Coincheck Group (CNCK) AI Stock Analysis

• Market Cap: $451.31M
• Dividend Yield: N/A
• Average Volume (3M): 30.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 185
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management - Cryptocurrency
• EPS (TTM): 0.02
• Shares Outstanding: 130,814,530
• 10 Day Avg. Volume: 41,440
• 30 Day Avg. Volume: 30,657
• PEG Ratio: 0.04
• Price to Book (P/B): 9.17
• Price to Sales (P/S): 0.26
• P/FCF Ratio: -37.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $3.00 ▼(-7.41% Downside)

Coincheck Group's overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The company's high leverage, negative profitability, and cash flow challenges pose significant risks. The technical analysis further indicates a bearish trend, while the valuation reflects substantial losses, making the stock unattractive at this time.

Positive Factors

Strategic Partnerships

The partnership with Mercoin enhances Coincheck's market presence by integrating crypto services into Mercari's app, expanding user access and engagement.

Revenue Growth

A 12% YoY revenue increase indicates strong market demand and effective strategic initiatives, supporting long-term growth prospects.

User Base Expansion

Steady increase in verified accounts to over 2.4 million reflects growing user engagement, crucial for sustaining platform growth and revenue.

Negative Factors

High Leverage

High leverage poses financial risks, limiting flexibility and increasing vulnerability to market fluctuations, impacting long-term stability.

Negative Profitability

Negative profitability indicates operational inefficiencies and challenges in cost management, threatening sustainable growth and financial health.

Operational Inefficiencies

Operational inefficiencies hinder profitability and cash flow, necessitating strategic improvements to ensure long-term competitiveness and viability.

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 generates revenue through several key streams. Primarily, the company earns money from transaction fees charged on cryptocurrency trades carried out on its platform. These fees are often a percentage of the trade value or a fixed rate per transaction. Additionally, Coincheck provides services such as margin trading and lending, which also contribute to its revenue through interest fees and loan arrangements. The company may also generate income from partnerships with other financial institutions or blockchain technology firms, enhancing its service offerings and expanding its user base. Lastly, Coincheck's revenue can be influenced by market trends and the overall trading volume on its platform, which can fluctuate based on cryptocurrency market conditions.

Coincheck Group Financial Statement Overview

Summary

Coincheck Group faces significant financial challenges across its income statement, balance sheet, and cash flow. Despite a 16% revenue growth, the company struggles with negative net profit margins, high leverage, and cash flow issues, indicating operational inefficiencies and financial risk.

Income Statement

The income statement reveals a challenging financial landscape for Coincheck Group. Despite a 16% revenue growth in the TTM, the company struggles with negative net profit margins and EBIT margins, indicating operational inefficiencies. The gross profit margin is low, suggesting limited pricing power or high cost of goods sold. The negative EBITDA margin further highlights issues in core profitability.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 5.38 in the TTM, indicating significant leverage and potential financial risk. The negative return on equity suggests that the company is not generating sufficient returns on shareholders' investments. The equity ratio is relatively low, reflecting a heavy reliance on debt financing.

Cash Flow

Cash flow analysis indicates some positive trends, with a 29% growth in free cash flow in the TTM. However, the operating cash flow remains negative, and the operating cash flow to net income ratio is unfavorable, suggesting cash flow challenges. The free cash flow to net income ratio is positive, indicating some ability to generate cash relative to net losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	454.78B	383.33B	224.05B	176.92B	690.97B	524.42B
Gross Profit	12.24B	10.79B	6.98B	5.30B	24.97B	18.99B
EBITDA	-13.04B	-12.60B	3.52B	-360.00M	14.37B	14.09B
Net Income	-15.82B	-14.35B	1.97B	-559.00M	9.79B	10.24B
Balance Sheet
Total Assets	137.07B	112.27B	119.19B	71.98B	540.13B	486.13B
Cash, Cash Equivalents and Short-Term Investments	9.08B	8.61B	10.84B	8.37B	17.72B	66.66B
Total Debt	62.84B	45.76B	45.68B	19.11B	34.47B	28.56B
Total Liabilities	126.65B	101.50B	106.75B	61.50B	524.09B	473.15B
Stockholders Equity	10.42B	10.77B	12.44B	10.48B	16.04B	12.98B
Cash Flow
Free Cash Flow	-3.48B	-2.62B	3.59B	-4.19B	7.18B	838.00M
Operating Cash Flow	-2.77B	-1.92B	3.90B	-3.80B	7.40B	1.03B
Investing Cash Flow	-1.05B	-903.00M	-435.00M	-749.00M	-219.00M	-269.00M
Financing Cash Flow	2.16B	565.00M	-327.00M	-5.46B	-6.65B	-225.00M

Coincheck Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 3.24 is below the 20-day moving average (MA) of 3.35, below the 50-day MA of 4.05, and below the 200-day MA of 5.32, indicating a bearish trend. The MACD of -0.28 indicates Negative momentum. The RSI at 38.42 is Neutral, neither overbought nor oversold. The STOCH value of 38.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNCK.

Coincheck Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HIFS	69 Neutral	$638.62M	14.27	10.23%	0.86%	8.26%	94.53%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FUFU	66 Neutral	$484.43M	7.80	38.27%	―	29.96%	66.09%
FOA	50 Neutral	$380.96M	―	-0.27%	―	93.57%	-106.02%
CNCK	42 Neutral	$451.31M	-134.77	-1.11%	―	―	―

Coincheck Group Corporate Events

Coincheck Group Releases Interim Financial Statements for 2025

Coincheck Group N.V. has released its unaudited condensed consolidated interim financial statements for the periods ending September 30, 2025, and March 31, 2025. These statements, along with the management’s discussion and analysis of financial conditions and results of operations, provide insights into the company’s financial performance over the past months. This release is significant for stakeholders as it offers a detailed view of the company’s operational health and strategic positioning in the rapidly evolving cryptocurrency market.

Coincheck Group Reports Strong Q2 2026 Financial Results

On November 12, 2025, Coincheck Group N.V. announced its financial results for the second quarter of fiscal year ending March 31, 2026, reporting a significant 89% year-over-year increase in total revenue to ¥133.1 billion ($900 million). The company also highlighted a 92% increase in gross margin and a substantial rise in net income to ¥355 million ($2.4 million), driven by an increase in verified accounts, customer assets, and marketplace trading volume. Coincheck’s strategic moves, including the acquisition of Aplo SAS and a partnership with Mercoin, aim to expand its market reach and strengthen its position in the crypto industry.

Coincheck Group Awaits Key Earnings Announcement Following Monex’s Financial Update

On November 7, 2025, Coincheck Group’s controlling shareholder, Monex Group, released its financial results for the second quarter of the fiscal year ending March 31, 2026. The results included limited metrics related to Coincheck Group, presented under different accounting standards than those used by Coincheck Group. Coincheck Group plans to announce its own earnings on November 12, 2025. The announcement highlights the complexities of financial reporting across different regulatory environments and underscores the importance of Coincheck Group’s upcoming earnings release for stakeholders.

Coincheck Group Releases October 2025 Trading Volume and Customer Data

Coincheck Group N.V. has released preliminary monthly disclosure information for Coincheck, Inc. for the past twelve months, ending October 2025. The data shows fluctuations in exchange and marketplace trading volumes, customer assets, and the number of verified accounts. Notably, the exchange trading volume reached 461,239 million yen in October 2025, indicating a recovery from previous months. This update provides stakeholders with insights into the company’s operational performance and market activity, although the figures are preliminary and unaudited.

Coincheck Group Releases Preliminary Monthly Trading Data

Coincheck Group N.V. has released its preliminary monthly disclosure for Coincheck, Inc., detailing trading volumes, customer assets, and verified accounts over the past year. The report highlights fluctuations in exchange and marketplace trading volumes, with significant activity noted in November 2024 and January 2025. The number of verified accounts has steadily increased, reaching over 2.4 million by September 2025. This disclosure provides stakeholders with insights into Coincheck’s operational performance and market engagement, despite the preliminary nature of the data.

Coincheck Group Releases Monthly Disclosure for August 2025

Coincheck Group N.V. has released its preliminary monthly disclosure for Coincheck, Inc., detailing data from the past twelve months. The report highlights significant fluctuations in exchange and marketplace trading volumes, customer assets, and the number of verified accounts. These insights suggest a dynamic market environment, with implications for stakeholders regarding the company’s operational performance and market positioning. The data, which is subject to updates, shows a notable increase in customer assets and verified accounts over the period, indicating growth in user engagement and asset management.

Coincheck Group Unveils Strategic Vision and FY 2026 Q1 Performance

On August 29, 2025, Coincheck Group N.V. released a presentation detailing its strategic vision and growth strategy, emphasizing the development of new crypto and Web3 services. The company aims to enhance its crypto asset ecosystem through mergers and acquisitions, expand its financial services, and grow its NFT platforms in Japan. Coincheck Group’s performance update for FY 2026 Q1 showed a 12% revenue increase year-over-year, despite a drop in adjusted EBITDA, highlighting the company’s efforts to maintain its market position amidst evolving global crypto market conditions.

Coincheck Group Releases Interim Financial Statements for June 2025

On August 28, 2025, Coincheck Group N.V. released its unaudited condensed consolidated interim financial statements for the periods ending June 30, 2025, and March 31, 2025. The release includes a management discussion and analysis of the company’s financial condition and results of operations, providing stakeholders with insights into its financial performance. The report is part of Coincheck’s ongoing efforts to maintain transparency with investors by making such information readily available on its website and through SEC filings.