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Coupang, Inc. (CPNG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Coupang, Inc. (CPNG) stock price & volume — 10-year historical chart
Coupang, Inc. (CPNG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Coupang, Inc. (CPNG) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $0.01vs $0.03-134.5% | $8.8Bvs $9.1B-2.5% |
| Q4 2025 | Nov 4, 2025 | $0.05vs $0.04+36.5% | $9.3Bvs $9.1B+1.3% |
| Q3 2025 | Aug 5, 2025 | $0.02vs $0.07-69.7% | $8.5Bvs $8.4B+1.7% |
| Q2 2025 | May 6, 2025 | $0.06vs $0.05+12.2% | $7.9Bvs $8.0B-1.4% |
Coupang, Inc. (CPNG) competitors in General Online Marketplaces — business model, growth, and fundamentals comparison
Coupang, Inc. (CPNG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Coupang, Inc. (CPNG) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 4.05B | 6.27B | 11.97B | 18.41B | 20.58B | 24.38B | 30.27B | 34.53B | 28.65B |
| Revenue Growth % | - | 54.76% | 90.77% | 53.8% | 11.83% | 18.46% | 24.14% | 14.09% | -7.75% |
| Cost of Goods Sold | 3.86B | 5.24B | 9.98B | 15.46B | 15.87B | 18.19B | 21.44B | 24.39B | 25.01B |
| COGS % of Revenue | 95.33% | 83.53% | 83.4% | 83.97% | 77.12% | 74.61% | 70.82% | 70.63% | - |
| Gross Profit | 189.38M▲ 0% | 1.03B▲ 445.6% | 1.99B▲ 92.2% | 2.95B▲ 48.6% | 4.71B▲ 59.6% | 6.19B▲ 31.4% | 8.83B▲ 42.7% | 10.14B▲ 14.8% | 3.65B▲ 0% |
| Gross Margin % | 4.67% | 16.47% | 16.6% | 16.03% | 22.88% | 25.39% | 29.18% | 29.37% | 12.72% |
| Gross Profit Growth % | - | 445.57% | 92.24% | 48.57% | 59.61% | 31.42% | 42.67% | 14.83% | - |
| Operating Expenses | 1.24B | 1.68B | 2.5B | 4.45B | 4.82B | 5.72B | 8.39B | 9.67B | 10.04B |
| OpEx % of Revenue | 30.63% | 26.7% | 20.91% | 24.15% | 23.43% | 23.45% | 27.74% | 28% | - |
| Selling, General & Admin | 1.24B | 1.68B | 2.5B | 4.45B | 4.82B | 5.72B | 8.39B | 9.67B | 10.04B |
| SG&A % of Revenue | 30.63% | 26.7% | 20.91% | 24.15% | 23.43% | 23.45% | 27.74% | 28% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -1.05B▲ 0% | -641.92M▲ 39.0% | -515.99M▲ 19.6% | -1.49B▼ 189.5% | -112M▲ 92.5% | 473M▲ 522.3% | 436M▼ 7.8% | 473M▲ 8.5% | 77M▲ 0% |
| Operating Margin % | -25.96% | -10.23% | -4.31% | -8.12% | -0.54% | 1.94% | 1.44% | 1.37% | 0.27% |
| Operating Income Growth % | - | 39% | 19.62% | -189.54% | 92.5% | 522.32% | -7.82% | 8.49% | - |
| EBITDA | -998.79M | -571.01M | -388.48M | -1.29B | 119M | 748M | 869M | 683M | -45M |
| EBITDA Margin % | -24.64% | -9.1% | -3.25% | -7.02% | 0.58% | 3.07% | 2.87% | 1.98% | -0.16% |
| EBITDA Growth % | - | 42.83% | 31.97% | -232.84% | 109.2% | 528.57% | 16.18% | -21.4% | -104.46% |
| D&A (Non-Cash Add-back) | 53.62M | 70.91M | 127.52M | 201M | 231M | 275M | 433M | 0 | -122M |
| EBIT | -1.02B | -600.22M | -355.1M | -1.5B | -66M | 632M | 613M | 683M | 444M |
| Net Interest Income | -67.02M | -77.77M | -96.77M | -36M | 26M | 130M | 76M | 113M | 87M |
| Interest Income | 3.92M | 19.14M | 10.99M | 9M | 53M | 178M | 216M | 199M | 194M |
| Interest Expense | 70.95M | 96.91M | 107.76M | 45M | 27M | 48M | 140M | 86M | 50M |
| Other Income/Expense | -42.85M | -55.2M | 53.13M | -48M | 19M | 111M | 37M | 124M | 49M |
| Pretax Income | -1.1B▲ 0% | -697.13M▲ 36.4% | -462.87M▲ 33.6% | -1.54B▼ 233.1% | -93M▲ 94.0% | 584M▲ 728.0% | 473M▼ 19.0% | 597M▲ 26.2% | 126M▲ 0% |
| Pretax Margin % | -27.02% | -11.11% | -3.87% | -8.38% | -0.45% | 2.4% | 1.56% | 1.73% | 0.44% |
| Income Tax | 2.28M | -241K | 292K | 1M | -1M | -776M | 407M | 383M | 292M |
| Effective Tax Rate % | -0.21% | 0.03% | -0.06% | -0.06% | 1.08% | -132.88% | 86.05% | 64.15% | 231.75% |
| Net Income | -1.1B▲ 0% | -696.88M▲ 36.5% | -463.16M▲ 33.5% | -1.54B▼ 233.1% | -92M▲ 94.0% | 1.36B▲ 1578.3% | 154M▼ 88.7% | 208M▲ 35.1% | -165M▲ 0% |
| Net Margin % | -27.08% | -11.11% | -3.87% | -8.38% | -0.45% | 5.58% | 0.51% | 0.6% | -0.58% |
| Net Income Growth % | - | 36.5% | 33.54% | -233.15% | 94.04% | 1578.26% | -88.68% | 35.06% | -164.45% |
| Net Income (Continuing) | -1.1B | -696.88M | -463.16M | -1.54B | -92M | 1.36B | 66M | 214M | -166M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | -1M | 0 | 0 |
| EPS (Diluted) | -0.69▲ 0% | -0.48▲ 30.4% | -0.33▲ 31.2% | -1.08▼ 227.3% | -0.05▲ 95.2% | 0.75▲ 1539.5% | 0.08▼ 88.8% | 0.11▲ 30.5% | -0.09▲ 0% |
| EPS Growth % | - | 30.43% | 31.25% | -227.27% | 95.18% | 1539.54% | -88.76% | 30.49% | -168.36% |
| EPS (Basic) | -0.69 | -0.48 | -0.33 | -1.08 | -0.05 | 0.76 | 0.09 | 0.11 | - |
| Diluted Shares Outstanding | 1.6B | 1.6B | 1.71B | 1.42B | 1.76B | 1.8B | 1.83B | 1.85B | 1.82B |
| Basic Shares Outstanding | 1.6B | 1.6B | 1.71B | 1.42B | 1.76B | 1.78B | 1.79B | 1.82B | 1.82B |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Coupang, Inc. (CPNG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.23B | 2.16B | 2.84B | 5.64B | 5.83B | 7.89B | 8.99B | 9.69B | 9.36B |
| Cash & Short-Term Investments | 611.5M | 1.22B | 1.25B | 3.49B | 3.51B | 5.24B | 5.88B | 6.32B | 6.3B |
| Cash Only | 611.5M | 1.22B | 1.25B | 3.49B | 3.51B | 5.24B | 5.88B | 6.32B | 6.3B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 25.92M | 63.85M | 71.26M | 175.35M | 184M | 314M | 407M | 363M | 351M |
| Days Sales Outstanding | 2.33 | 3.72 | 2.17 | 3.48 | 3.26 | 4.7 | 4.91 | 3.84 | 5.11 |
| Inventory | 391.21M | 631.74M | 1.16B | 1.42B | 1.66B | 1.67B | 2.1B | 2.26B | 2.04B |
| Days Inventory Outstanding | 36.95 | 44 | 42.46 | 33.57 | 38.1 | 33.42 | 35.74 | 33.76 | 33.08 |
| Other Current Assets | 205.45M | 237.15M | 356.8M | 552.25M | 480M | 669M | 609M | 754M | 674M |
| Total Non-Current Assets | 418.06M | 1.07B | 2.23B | 3.01B | 3.68B | 5.45B | 6.35B | 8.1B | 8.04B |
| Property, Plant & Equipment | 374.04M | 1B | 2.03B | 2.72B | 3.23B | 4.07B | 4.83B | 7.03B | 7.03B |
| Fixed Asset Turnover | 10.84x | 6.25x | 5.90x | 6.76x | 6.38x | 6.00x | 6.27x | 4.91x | 4.37x |
| Goodwill | 4.31M | 3.99M | 4.25M | 9.74M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 37M | 271M | 190M | 178M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 39.71M | 67.51M | 193.17M | 273.13M | 418M | 426M | 628M | 278M | 2.78B |
| Total Assets | 1.65B▲ 0% | 3.23B▲ 95.5% | 5.07B▲ 56.9% | 8.64B▲ 70.5% | 9.51B▲ 10.1% | 13.35B▲ 40.3% | 15.34B▲ 15.0% | 17.79B▲ 15.9% | 17.4B▲ 0% |
| Asset Turnover | 2.45x | 1.94x | 2.36x | 2.13x | 2.16x | 1.83x | 1.97x | 1.94x | 1.60x |
| Asset Growth % | - | 95.49% | 56.89% | 70.54% | 10.08% | 40.29% | 14.97% | 15.92% | 56.34% |
| Total Current Liabilities | 1.54B | 1.88B | 3.73B | 4.74B | 5.06B | 6.95B | 7.72B | 9.36B | 9.62B |
| Accounts Payable | 1.18B | 1.59B | 2.91B | 3.44B | 3.62B | 5.1B | 5.55B | 6.3B | 5.96B |
| Days Payables Outstanding | 111.92 | 110.79 | 106.34 | 81.31 | 83.29 | 102.3 | 94.57 | 94.24 | 93.21 |
| Short-Term Debt | 243.88M | 14.71M | 224.25M | 349.53M | 304M | 485M | 545M | 960M | 1.67B |
| Deferred Revenue (Current) | 0 | 28.91M | 65.26M | 93.97M | 92M | 97M | 141M | 188M | 559M |
| Other Current Liabilities | 66M | 90.33M | 212.48M | 266.71M | 420M | 526M | 593M | 1.37B | 7.77B |
| Current Ratio | 0.80x | 1.15x | 0.76x | 1.19x | 1.15x | 1.14x | 1.17x | 1.04x | 1.04x |
| Quick Ratio | 0.55x | 0.81x | 0.45x | 0.89x | 0.82x | 0.90x | 0.89x | 0.79x | 0.79x |
| Cash Conversion Cycle | -72.63 | -63.07 | -61.7 | -44.26 | -41.92 | -64.17 | -53.92 | -56.65 | -55.02 |
| Total Non-Current Liabilities | 863.27M | 4.88B | 5.4B | 1.72B | 2.04B | 2.31B | 3.53B | 3.81B | 3.85B |
| Long-Term Debt | 688.45M | 768.77M | 943.19M | 283.19M | 538M | 529M | 988M | 648M | 3.17B |
| Capital Lease Obligations | 0 | 396.14M | 859.48M | 1.2B | 1.23B | 1.39B | 1.77B | 2.48B | 7.19B |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 174.83M | 3.72B | 3.6B | 237.12M | 264M | 396M | 768M | 677M | 2.69B |
| Total Liabilities | 2.4B | 6.76B | 9.14B | 6.47B | 7.1B | 9.26B | 11.24B | 13.16B | 13.47B |
| Total Debt | 932.32M | 1.28B | 2.23B | 2.12B | 2.4B | 2.79B | 3.73B | 4.63B | 4.84B |
| Net Debt | 320.82M | 54.16M | 982.66M | -1.37B | -1.11B | -2.46B | -2.15B | -1.68B | -1.46B |
| Debt / Equity | - | - | - | 0.97x | 1.00x | 0.68x | 0.91x | 1.00x | 1.00x |
| Debt / EBITDA | - | - | - | - | 20.18x | 3.73x | 4.29x | 6.79x | -107.53x |
| Net Debt / EBITDA | - | - | - | - | -9.30x | -3.28x | -2.48x | -2.46x | -2.46x |
| Interest Coverage | -14.44x | -6.19x | -3.30x | -33.27x | -2.44x | 13.17x | 4.38x | 7.94x | 8.88x |
| Total Equity | -752.61M▲ 0% | -3.53B▼ 369.4% | -4.07B▼ 15.2% | 2.18B▲ 153.5% | 2.41B▲ 10.9% | 4.09B▲ 69.4% | 4.1B▲ 0.3% | 4.62B▲ 12.7% | 3.93B▲ 0% |
| Equity Growth % | - | -369.42% | -15.17% | 153.48% | 10.94% | 69.39% | 0.32% | 12.7% | 31.61% |
| Book Value per Share | -0.47 | -2.21 | -2.38 | 1.53 | 1.37 | 2.27 | 2.25 | 2.49 | 2.15 |
| Total Shareholders' Equity | -752.61M | -3.53B | -4.07B | 2.18B | 2.41B | 4.09B | 4.1B | 4.62B | 3.93B |
| Common Stock | 54.38M | 0 | 45.12M | 175K | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -2.87B | -3.57B | -4.11B | -5.65B | -5.74B | -4.38B | -4.23B | -4.02B | -4.29B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 13.35M | 7.64M | -31.09M | -47.74M | 3M | -17M | -404M | -381M | -540M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | -1M | 0 | 0 |
Coupang, Inc. (CPNG) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -694.47M | -311.84M | 301.55M | -411M | 565M | 2.65B | 1.89B | 1.77B | 1.77B |
| Operating CF Margin % | -17.13% | -4.97% | 2.52% | -2.23% | 2.74% | 10.88% | 6.23% | 5.13% | - |
| Operating CF Growth % | - | 55.1% | 196.7% | -236.29% | 237.47% | 369.38% | -28.88% | -5.99% | -21.68% |
| Net Income | -1.1B | -696.88M | -463.16M | -1.54B | -92M | 1.36B | 66M | 208M | -165M |
| Depreciation & Amortization | 53.62M | 70.91M | 127.52M | 201M | 231M | 275M | 433M | 0 | 402M |
| Stock-Based Compensation | 27.33M | 20.82M | 31.33M | 249M | 262M | 326M | 433M | 0 | 353M |
| Deferred Taxes | 0 | 0 | 0 | 0 | -41M | -884M | 225M | 0 | -43M |
| Other Non-Cash Items | 96.39M | 236.01M | 222.45M | 750M | 583M | 637M | 694M | 2B | 1.25B |
| Working Capital Changes | 225.73M | 57.3M | 383.41M | -68M | -378M | 938M | 35M | -432M | -240.48M |
| Change in Receivables | 19.97M | -39.98M | -4.31M | -120M | -34M | -133M | 209M | 37M | 106.69M |
| Change in Inventory | -159.67M | -279.01M | -504.29M | -528M | -367M | -44M | -376M | -233M | -76.84M |
| Change in Payables | 400.38M | 416.51M | 1.07B | 728M | 444M | 1.51B | 507M | 515M | 436.21M |
| Cash from Investing | -91.83M | -218.22M | -520.65M | -676M | -848M | -927M | -819M | -1.25B | -1.31B |
| Capital Expenditures | -93.4M | -217.82M | -484.63M | -674M | -824M | -896M | -879M | -1.25B | -1.32B |
| CapEx % of Revenue | 2.3% | 3.47% | 4.05% | 3.66% | 4% | 3.67% | 2.9% | 3.62% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 68M | 0 | 3.06M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 1.57M | -401K | -36.02M | -2M | -24M | -31M | -8M | -3M | 1.74M |
| Cash from Financing | 1.24B | 1.18B | 178.5M | 3.58B | 247M | 199M | -69M | -247M | 87.94M |
| Debt Issued (Net) | 694.75M | -215.83M | 246.93M | 96M | 229M | 190M | 105M | 19M | -16.38M |
| Equity Issued (Net) | 548.2M | -114.61M | -97.04M | 3.43B | 0 | 0 | -178M | -238M | -233.08M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -114.61M | -97.04M | 0 | 0 | 0 | -178M | -243M | -627.96M |
| Other Financing | 0 | 1.51B | 28.61M | 50M | 18M | 9M | 4M | -28M | 337.4M |
| Net Change in Cash | 439.53M▲ 0% | 631.63M▲ 43.7% | 29.77M▼ 95.3% | 2.41B▲ 7992.9% | -123M▼ 105.1% | 1.91B▲ 1652.8% | 434M▼ 77.3% | 381M▼ 12.2% | 191M▲ 0% |
| Free Cash Flow | -787.87M▲ 0% | -529.67M▲ 32.8% | -183.08M▲ 65.4% | -1.08B▼ 492.7% | -259M▲ 76.1% | 1.76B▲ 778.0% | 1.01B▼ 42.7% | 522M▼ 48.2% | 278.51M▲ 0% |
| FCF Margin % | -19.44% | -8.44% | -1.53% | -5.89% | -1.26% | 7.2% | 3.33% | 1.51% | 0.97% |
| FCF Growth % | - | 32.77% | 65.44% | -492.65% | 76.13% | 777.99% | -42.65% | -48.16% | -72.61% |
| FCF per Share | -0.49 | -0.33 | -0.11 | -0.76 | -0.15 | 0.97 | 0.55 | 0.28 | 0.28 |
| FCF Conversion (FCF/Net Income) | 0.63x | 0.45x | -0.65x | 0.27x | -6.14x | 1.95x | 12.25x | 8.52x | -1.69x |
| Interest Paid | 18.08M | 19.06M | 23.66M | 21M | 19M | 31M | 85M | 0 | 0 |
| Taxes Paid | 644K | 2.54M | 857K | 3M | 6M | 110M | 138M | 0 | 0 |
Coupang, Inc. (CPNG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -70.91% | -4.01% | 41.83% | 3.76% | 4.77% | -3.67% |
| Return on Invested Capital (ROIC) | - | - | -138.45% | -7.94% | 24.13% | 18.26% | 14.52% | 14.52% |
| Gross Margin | 16.47% | 16.6% | 16.03% | 22.88% | 25.39% | 29.18% | 29.37% | 12.72% |
| Net Margin | -11.11% | -3.87% | -8.38% | -0.45% | 5.58% | 0.51% | 0.6% | -0.58% |
| Debt / Equity | - | - | 0.97x | 1.00x | 0.68x | 0.91x | 1.00x | 1.00x |
| Interest Coverage | -6.19x | -3.30x | -33.27x | -2.44x | 13.17x | 4.38x | 7.94x | 8.88x |
| FCF Conversion | 0.45x | -0.65x | 0.27x | -6.14x | 1.95x | 12.25x | 8.52x | -1.69x |
| Revenue Growth | 54.76% | 90.77% | 53.8% | 11.83% | 18.46% | 24.14% | 14.09% | -7.75% |
Coupang, Inc. (CPNG) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 5, 2026·SEC
Feb 26, 2026·SEC
Feb 6, 2026·SEC
Coupang, Inc. (CPNG) stock FAQ — growth, dividends, profitability & financials explained
Coupang, Inc. (CPNG) reported $28.65B in revenue for fiscal year 2025. This represents a 607% increase from $4.05B in 2018.
Coupang, Inc. (CPNG) grew revenue by 14.1% over the past year. This is steady growth.
Coupang, Inc. (CPNG) reported a net loss of $165.0M for fiscal year 2025.
Coupang, Inc. (CPNG) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.
Coupang, Inc. (CPNG) generated $278.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Coupang, Inc. (CPNG) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates