Coincheck Group N.V.

CNCK

Asset Management - Cryptocurrency · Financial Services

Price

$2.88

+0.03 (+1.05%)

Market Cap

$391.5M

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+349.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 30.2M (2022) → 135.9M (2026)

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.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-285.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

90.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$59.7B cash & investments at current burn rate

Growth context

Coincheck Group N.V. is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

2.4%

Thin — 2.4% gross margin

Operating Margin

-1.2%

Losing money on operations — -1.2%

ROCE

-6.5%

Weak — -6.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+35.4%

Fast-growing sales (35.4% YoY)

EPS YoY

-97.5%

Earnings shrinking (-97.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

-976%

Weak — only -976% of profit becomes cash

FCF Margin

-0.4%

Burning cash (-0.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

18.36x

Comfortably covers interest (18.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

1.7x

Attractive valuation — P/E 1.7

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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