CME Group Inc (CME) is slightly overvalued and Coinbase Global Inc (COIN) is overvalued.
Both trade above our estimate of their intrinsic value. CME is the closer of the two: -15%, against -159% for COIN.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.3% (average of 3 methods) values the shares at $232.06; the price of $267.21 is 15% above that value, and 82% of that value comes from beyond year five.
Leak Score 61/100 on 8 of 12 signals
Discounting its cash flows at 8.5% (average of 2 methods) values the shares at $77.60; the price of $201.07 is 159% above that value, and 77% of that value comes from beyond year five.
Leak Score 25/100 on 6 of 12 signals
| Metric | CME | COIN |
|---|---|---|
| Verdict | Slightly overvalued | Overvalued |
| Price | $267.21 | $201.07 |
| Intrinsic value | $232.06 | $77.60 |
| Margin of safety | -15% | -159% |
| Leak Score | 61/100 (8/12) | 25/100 (6/12) |
| Market cap | $96.1B | $53.0B |
| Revenue growth, 5 years | 6.0% | 41.2% |
| Operating margin | 65.1% | -37.6% |
| Net margin | 63.1% | -20.6% |
| Return on equity | 15.8% | -7.8% |
| Debt to equity | 0.15 | 0.51 |
| P/E | 22.7x | — |
| Forward P/E | 20.7x | 78.2x |
| P/B | 3.6x | 4.1x |
| Dividend yield | 4.3% | — |