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CPNG logoCoupang, Inc.(CPNG)Earnings, Financials & Key Ratios

CPNG•NYSE
$20.76
$37.51B mkt cap·188.7× P/E·Price updated May 6, 2026
SectorConsumer CyclicalIndustrySpecialty RetailSub-IndustryGeneral Online Marketplaces
AboutCoupang, Inc. owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services. It also performs operations and support services in China, Singapore, Japan, Taiwan, and the United States. Coupang, Inc. was incorporated in 2010 and is headquartered in Seoul, South Korea.Show more
  • Revenue$34.53B+14.1%
  • EBITDA$683M-21.4%
  • Net Income$208M+35.1%
  • EPS (Diluted)0.11+30.5%
  • Gross Margin29.37%+0.6%
  • EBITDA Margin1.98%-31.1%
  • Operating Margin1.37%-4.9%
  • Net Margin0.6%+18.4%
  • ROE4.77%+26.8%
  • ROIC14.52%-20.5%
  • Debt/Equity1.00+10.4%
  • Interest Coverage7.94+81.4%
Analysis→Technical→

CPNG Key Insights

Coupang, Inc. (CPNG) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 23.6%
  • ✓Good 3Y average ROE of 16.8%
  • ✓Efficient asset utilization: 1.9x turnover

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CPNG Price & Volume

Coupang, Inc. (CPNG) stock price & volume — 10-year historical chart

Loading chart...

CPNG Growth Metrics

Coupang, Inc. (CPNG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years23.61%
3 Years18.83%
TTM-7.75%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-164.45%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-168.36%

Return on Capital

10 Years-139.56%
5 Years-7.79%
3 Years6.94%
Last Year5.89%

CPNG Recent Earnings

Coupang, Inc. (CPNG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 7/12 qtrs (58%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.01
Est $0.03
-134.5%
Revenue
$8.8B
Est $9.1B
-2.5%
Q4 2025
Nov 4, 2025
EPS
$0.05
Est $0.04
+36.5%
Revenue
$9.3B
Est $9.1B
+1.3%
Q3 2025
Aug 5, 2025
EPS
$0.02
Est $0.07
-69.7%
Revenue
$8.5B
Est $8.4B
+1.7%
Q2 2025
May 6, 2025
EPS
$0.06
Est $0.05
+12.2%
Revenue
$7.9B
Est $8.0B
-1.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.01vs $0.03-134.5%
$8.8Bvs $9.1B-2.5%
Q4 2025Nov 4, 2025
$0.05vs $0.04+36.5%
$9.3Bvs $9.1B+1.3%
Q3 2025Aug 5, 2025
$0.02vs $0.07-69.7%
$8.5Bvs $8.4B+1.7%
Q2 2025May 6, 2025
$0.06vs $0.05+12.2%
$7.9Bvs $8.0B-1.4%
Based on last 12 quarters of dataView full earnings history →

CPNG Peer Comparison

Coupang, Inc. (CPNG) competitors in General Online Marketplaces — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
AMZN logoAMZNAmazon.com, Inc.Direct Competitor2.94T273.5238.1512.38%12.22%23.34%0.26%0.37
SE logoSESea LimitedDirect Competitor51.09B84.48115.7328.75%6.78%15.16%5.79%0.49
JD logoJDJD.com, Inc.Direct Competitor45.65B29.687.526.84%2.47%10.53%14.23%0.29
MELI logoMELIMercadoLibre, Inc.Direct Competitor92.11B1816.8046.1239.06%6.91%29.59%11.7%1.69
BABA logoBABAAlibaba Group Holding LimitedDirect Competitor319.3B132.2316.825.86%12.19%11.24%3.59%0.23
DASH logoDASHDoorDash, Inc.Product Competitor71.59B166.147827.93%6.83%9.08%3.04%0.33
GRAB logoGRABGrab Holdings LimitedProduct Competitor14.62B3.6857.7720.49%7.92%4.09%0.92%0.30
GLBE logoGLBEGlobal-e Online Ltd.Product Competitor5.35B31.6181.0527.82%7.1%7.32%5.25%0.04

Compare CPNG vs Peers

Coupang, Inc. (CPNG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AMZN

Most directly comparable listed peer for CPNG.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare CPNG against a more recognizable public peer.

Peer Set

Compare Top 5

vs AMZN, SE, JD, MELI

CPNG Income Statement

Coupang, Inc. (CPNG) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue4.05B6.27B11.97B18.41B20.58B24.38B30.27B34.53B28.65B
Revenue Growth %-54.76%90.77%53.8%11.83%18.46%24.14%14.09%-7.75%
Cost of Goods Sold3.86B5.24B9.98B15.46B15.87B18.19B21.44B24.39B25.01B
COGS % of Revenue95.33%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 Expenses1.24B1.68B2.5B4.45B4.82B5.72B8.39B9.67B10.04B
OpEx % of Revenue30.63%26.7%20.91%24.15%23.43%23.45%27.74%28%-
Selling, General & Admin1.24B1.68B2.5B4.45B4.82B5.72B8.39B9.67B10.04B
SG&A % of Revenue30.63%26.7%20.91%24.15%23.43%23.45%27.74%28%-
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses000000000
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-1.29B119M748M869M683M-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)53.62M70.91M127.52M201M231M275M433M0-122M
EBIT-1.02B-600.22M-355.1M-1.5B-66M632M613M683M444M
Net Interest Income-67.02M-77.77M-96.77M-36M26M130M76M113M87M
Interest Income3.92M19.14M10.99M9M53M178M216M199M194M
Interest Expense70.95M96.91M107.76M45M27M48M140M86M50M
Other Income/Expense-42.85M-55.2M53.13M-48M19M111M37M124M49M
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 Tax2.28M-241K292K1M-1M-776M407M383M292M
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-92M1.36B66M214M-166M
Discontinued Operations000000000
Minority Interest000000-1M00
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)-0.69-0.48-0.33-1.08-0.050.760.090.11-
Diluted Shares Outstanding1.6B1.6B1.71B1.42B1.76B1.8B1.83B1.85B1.82B
Basic Shares Outstanding1.6B1.6B1.71B1.42B1.76B1.78B1.79B1.82B1.82B
Dividend Payout Ratio---------

CPNG Balance Sheet

Coupang, Inc. (CPNG) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets1.23B2.16B2.84B5.64B5.83B7.89B8.99B9.69B9.36B
Cash & Short-Term Investments611.5M1.22B1.25B3.49B3.51B5.24B5.88B6.32B6.3B
Cash Only611.5M1.22B1.25B3.49B3.51B5.24B5.88B6.32B6.3B
Short-Term Investments000000000
Accounts Receivable25.92M63.85M71.26M175.35M184M314M407M363M351M
Days Sales Outstanding2.333.722.173.483.264.74.913.845.11
Inventory391.21M631.74M1.16B1.42B1.66B1.67B2.1B2.26B2.04B
Days Inventory Outstanding36.954442.4633.5738.133.4235.7433.7633.08
Other Current Assets205.45M237.15M356.8M552.25M480M669M609M754M674M
Total Non-Current Assets418.06M1.07B2.23B3.01B3.68B5.45B6.35B8.1B8.04B
Property, Plant & Equipment374.04M1B2.03B2.72B3.23B4.07B4.83B7.03B7.03B
Fixed Asset Turnover10.84x6.25x5.90x6.76x6.38x6.00x6.27x4.91x4.37x
Goodwill4.31M3.99M4.25M9.74M00000
Intangible Assets0000037M271M190M178M
Long-Term Investments000000000
Other Non-Current Assets39.71M67.51M193.17M273.13M418M426M628M278M2.78B
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 Turnover2.45x1.94x2.36x2.13x2.16x1.83x1.97x1.94x1.60x
Asset Growth %-95.49%56.89%70.54%10.08%40.29%14.97%15.92%56.34%
Total Current Liabilities1.54B1.88B3.73B4.74B5.06B6.95B7.72B9.36B9.62B
Accounts Payable1.18B1.59B2.91B3.44B3.62B5.1B5.55B6.3B5.96B
Days Payables Outstanding111.92110.79106.3481.3183.29102.394.5794.2493.21
Short-Term Debt243.88M14.71M224.25M349.53M304M485M545M960M1.67B
Deferred Revenue (Current)028.91M65.26M93.97M92M97M141M188M559M
Other Current Liabilities66M90.33M212.48M266.71M420M526M593M1.37B7.77B
Current Ratio0.80x1.15x0.76x1.19x1.15x1.14x1.17x1.04x1.04x
Quick Ratio0.55x0.81x0.45x0.89x0.82x0.90x0.89x0.79x0.79x
Cash Conversion Cycle-72.63-63.07-61.7-44.26-41.92-64.17-53.92-56.65-55.02
Total Non-Current Liabilities863.27M4.88B5.4B1.72B2.04B2.31B3.53B3.81B3.85B
Long-Term Debt688.45M768.77M943.19M283.19M538M529M988M648M3.17B
Capital Lease Obligations0396.14M859.48M1.2B1.23B1.39B1.77B2.48B7.19B
Deferred Tax Liabilities000000000
Other Non-Current Liabilities174.83M3.72B3.6B237.12M264M396M768M677M2.69B
Total Liabilities2.4B6.76B9.14B6.47B7.1B9.26B11.24B13.16B13.47B
Total Debt932.32M1.28B2.23B2.12B2.4B2.79B3.73B4.63B4.84B
Net Debt320.82M54.16M982.66M-1.37B-1.11B-2.46B-2.15B-1.68B-1.46B
Debt / Equity---0.97x1.00x0.68x0.91x1.00x1.00x
Debt / EBITDA----20.18x3.73x4.29x6.79x-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-2.44x13.17x4.38x7.94x8.88x
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-0.47-2.21-2.381.531.372.272.252.492.15
Total Shareholders' Equity-752.61M-3.53B-4.07B2.18B2.41B4.09B4.1B4.62B3.93B
Common Stock54.38M045.12M175K00000
Retained Earnings-2.87B-3.57B-4.11B-5.65B-5.74B-4.38B-4.23B-4.02B-4.29B
Treasury Stock000000000
Accumulated OCI13.35M7.64M-31.09M-47.74M3M-17M-404M-381M-540M
Minority Interest000000-1M00

CPNG Cash Flow Statement

Coupang, Inc. (CPNG) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-694.47M-311.84M301.55M-411M565M2.65B1.89B1.77B1.77B
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-92M1.36B66M208M-165M
Depreciation & Amortization53.62M70.91M127.52M201M231M275M433M0402M
Stock-Based Compensation27.33M20.82M31.33M249M262M326M433M0353M
Deferred Taxes0000-41M-884M225M0-43M
Other Non-Cash Items96.39M236.01M222.45M750M583M637M694M2B1.25B
Working Capital Changes225.73M57.3M383.41M-68M-378M938M35M-432M-240.48M
Change in Receivables19.97M-39.98M-4.31M-120M-34M-133M209M37M106.69M
Change in Inventory-159.67M-279.01M-504.29M-528M-367M-44M-376M-233M-76.84M
Change in Payables400.38M416.51M1.07B728M444M1.51B507M515M436.21M
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 Revenue2.3%3.47%4.05%3.66%4%3.67%2.9%3.62%-
Acquisitions00000068M03.06M
Investments---------
Other Investing1.57M-401K-36.02M-2M-24M-31M-8M-3M1.74M
Cash from Financing1.24B1.18B178.5M3.58B247M199M-69M-247M87.94M
Debt Issued (Net)694.75M-215.83M246.93M96M229M190M105M19M-16.38M
Equity Issued (Net)548.2M-114.61M-97.04M3.43B00-178M-238M-233.08M
Dividends Paid000000000
Share Repurchases0-114.61M-97.04M000-178M-243M-627.96M
Other Financing01.51B28.61M50M18M9M4M-28M337.4M
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-0.49-0.33-0.11-0.76-0.150.970.550.280.28
FCF Conversion (FCF/Net Income)0.63x0.45x-0.65x0.27x-6.14x1.95x12.25x8.52x-1.69x
Interest Paid18.08M19.06M23.66M21M19M31M85M00
Taxes Paid644K2.54M857K3M6M110M138M00

CPNG Key Ratios

Coupang, Inc. (CPNG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2019202020212022202320242025TTM
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 Margin16.47%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--0.97x1.00x0.68x0.91x1.00x1.00x
Interest Coverage-6.19x-3.30x-33.27x-2.44x13.17x4.38x7.94x8.88x
FCF Conversion0.45x-0.65x0.27x-6.14x1.95x12.25x8.52x-1.69x
Revenue Growth54.76%90.77%53.8%11.83%18.46%24.14%14.09%-7.75%

CPNG SEC Filings & Documents

Coupang, Inc. (CPNG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Feb 6, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 5, 2025·SEC

CPNG Frequently Asked Questions

Coupang, Inc. (CPNG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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.

Dividend & Returns

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.

Explore More CPNG

Coupang, Inc. (CPNG) financial analysis — history, returns, DCA and operating performance tools

Full CPNG Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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