• Coinbase's ROIC/WACC ratio of 0.68 indicates it is not generating returns that exceed its cost of capital.
• Airbnb, Inc. (ABNB) demonstrates strong capital efficiency with a ROIC/WACC ratio of 2.04, the highest among its peers.
• Both Palantir Technologies Inc. (PLTR) and Robinhood Markets, Inc. (HOOD) have ROICs below their respective WACCs, indicating inefficiencies in covering their cost of capital.

Coinbase Global, Inc. (NASDAQ:COIN) is a leading cryptocurrency exchange platform that allows users to buy, sell, and store various digital currencies. As a pioneer in the crypto space, Coinbase faces competition from other financial technology companies like Robinhood Markets, Inc. (HOOD) and Block, Inc. (SQ), which also offer cryptocurrency trading services.

In evaluating Coinbase's financial performance, the Return on Invested Capital (ROIC) and Weighted Average Cost of Capital (WACC) are crucial metrics. Coinbase's ROIC is 13.57%, while its WACC is 19.81%, resulting in a ROIC/WACC ratio of 0.68. This indicates that Coinbase is not generating returns that exceed its cost of capital, which is a concern for investors.

Comparatively, Roblox Corporation (RBLX) has a negative ROIC of -30.41% and a WACC of 10.78%, leading to a ROIC/WACC ratio of -2.82. This suggests that Roblox is struggling with capital efficiency. On the other hand, Airbnb, Inc. (ABNB) demonstrates strong capital efficiency with a ROIC of 18.69% and a WACC of 9.15%, resulting in a favorable ROIC/WACC ratio of 2.04.

Palantir Technologies Inc. (PLTR) and Robinhood Markets, Inc. (HOOD) also have ROICs below their respective WACCs, with ratios of 0.32 and 0.73, respectively. This indicates that both companies are not covering their cost of capital, although Robinhood's ratio is slightly better than Coinbase's. Block, Inc. (SQ) also shows inefficiency with a ROIC of 3.98% and a WACC of 14.81%, resulting in a ratio of 0.27.

Among the companies analyzed, Airbnb stands out with the highest ROIC to WACC ratio of 2.04, indicating it is the most efficient in generating returns relative to its cost of capital. This suggests that Airbnb is currently the most effective in creating value for its investors compared to its peers.