The band denied comparisons between themselves and the Chris Martin-fronted act, insisting that they do not want to "conquer" anything.
Asked by GQ about how they feel being labelled the next Coldplay, singer Marcus Mumford said: "Oh, God. Is that appealing? Not really.
"No disrespect to Coldplay. But we want to do things pretty differently. It's not about being as big as we can be. We don't want to conquer anything."
He added: "We just want to play good shows. We may change our minds but stadiums are something we never really want to do. Arenas are plenty big enough."
Mumford & Sons topped both the UK chart and US Billboard 200 with their second studio album Babel back in September.
Watch the music video for Mumford & Sons' 'I Will Wait' below: