Coincheck Group N.V. Ordinary Shares (CNCK)

FairStock Score: 40/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable advantages, consistent earnings, and conservative finances. Coincheck is a Japanese crypto exchange with 303 employees, offering trading, staking, custody, and an NFT marketplace. The industry is young, competitive, and regulation-heavy. In fiscal Q2 2026, revenue was $114.3B, but net income was -$1.2B, producing a -1.03% margin. That tells me the top line may be large, but the business is not converting it into owner earnings. The provided figures show revenue growth of 36.13% and profit growth of 14.60%, but I cannot verify the periods, and one year of filed history is too short to judge consistency; FairStock categorizes it as Lynch 'none' because only 0 years of filed results exist and three are needed. At the 2026-10-13 close of $1.25, FairStock's P/B is 1.07 and P/E is -20.83. A negative P/E means there are no positive earnings to value. ROE is -7.96% and ROCE is -1.02%, so capital is being eroded, not compounded. Debt/equity of 0.10 is modest, and Piotroski 5/9 is middling, but for a financial firm I want CET1, net interest margin, or combined ratio; those are not in the data. Crypto exchange economics depend on volumes, fees, custody safety, and regulation. The 52-week range of $1.25 to $9.31 shows how volatile sentiment is. Price-to-book near 1.07 may look reasonable, but book value quality is uncertain and returns are negative. I see no margin of safety in the numbers given.

In plain English: Coincheck runs a cryptocurrency exchange in Japan, offering trading, staking, custody and an NFT marketplace. In its latest reported quarter, fiscal Q2 2026, revenue was $114.3B but it lost $1.2B, so the business is not currently profitable. At $1.25, the stock is near the low end of its 52-week range and looks more like a speculative, unproven business than a cheap, steady compounder.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer