CoinShares PLC Ordinary Shares

CSHR

Financial - Capital Markets · Financial Services

Price

$4.20

-0.05 (-1.18%)

Market Cap

$276.5M

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−58.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 69.9M (2021) → 29.3M (2025)

CoinShares PLC engages in the creating financial products with digital assets and blockchain technology business in Jersey. It operates through three segments: Asset Management, Capital Markets, and Principal Investments. The company offers CoinShares Physical, CoinShares Valkyrie, CoinShares XBT, and The Blockchain Global Equity Index products. It also provides hedge fund solutions, indices, venture services, and capital markets services. CoinShares PLC was founded in 2013 and is headquartered

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

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-11.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

Research and development spending

Insider Activity

60.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

5+ years

Quarterly Free Cash Flow

$234M cash & investments at current burn rate

Revenue declining

CoinShares PLC Ordinary Shares's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

N/A

Data not available

Operating Margin

N/A

Data not available

ROCE

-0.4%

Weak — -0.4% return on capital

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

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Growth

Sales YoY

N/A

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

274%

Turns 274% of profit into real cash

FCF Margin

261.8%

Converts sales into free cash efficiently (261.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

18.41x

Comfortably covers interest (18.4x)

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

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Valuation

P/E Ratio (TTM)

4.6x

Attractive valuation — P/E 4.6

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

P/E vs Forward

-6.5

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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