Coupang, Inc. (CPNG) 10-Year Financial Performance & Capital Metrics

CPNG •

Consumer CyclicalSpecialty RetailGeneral 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 $8.22B -72.8%
EBITDA $473M -45.6%
Net Income $208M +35.1%
EPS (Diluted) 0.11 +30.5%
Gross Margin -196.68% -774.1%
EBITDA Margin 5.75% +100.4%
Operating Margin 5.75% +299.4%
Net Margin 2.53% +397.2%
ROE 1.57% -58.3%
ROIC 3.21% -82.4%
Debt/Equity 0.18 -79.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 15.7%

✗Weaknesses

✗Weak momentum: RS Rating 16 (bottom 16%)
✗Sales declining 7.2% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-7.23%

3Y-26.35%

TTM-72.84%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM35.06%

EPS CAGR

10Y-

5Y-

3Y-

TTM29.87%

ROCE

10Y Avg-139.56%

5Y Avg-7.79%

3Y Avg6.94%

Latest5.89%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	4.05B	6.27B	11.97B	18.41B	20.58B	24.38B	30.27B	8.22B
Revenue Growth %	-	54.76%	90.77%	53.8%	11.83%	18.46%	24.14%	-72.84%
Cost of Goods Sold+	3.86B	5.24B	9.98B	15.46B	15.87B	18.19B	21.44B	24.39B
COGS % of Revenue	95.33%	83.53%	83.4%	83.97%	77.12%	74.61%	70.82%	296.68%
Gross Profit+	189.38M	1.03B	1.99B	2.95B	4.71B	6.19B	8.83B	-16.17B
Gross Margin %	4.67%	16.47%	16.6%	16.03%	22.88%	25.39%	29.18%	-196.68%
Gross Profit Growth %	-	445.57%	92.24%	48.57%	59.61%	31.42%	42.67%	-283.12%
Operating Expenses+	1.24B	1.68B	2.5B	4.45B	4.82B	5.72B	8.39B	9.67B
OpEx % of Revenue	30.63%	26.7%	20.91%	24.15%	23.43%	23.45%	27.74%	117.59%
Selling, General & Admin	1.24B	1.68B	2.5B	4.45B	4.82B	5.72B	8.39B	9.67B
SG&A % of Revenue	30.63%	26.7%	20.91%	24.15%	23.43%	23.45%	27.74%	117.59%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-1.05B	-641.92M	-515.99M	-1.49B	-112M	473M	436M	473M
Operating Margin %	-25.96%	-10.23%	-4.31%	-8.12%	-0.54%	1.94%	1.44%	5.75%
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	473M
EBITDA Margin %	-24.64%	-9.1%	-3.25%	-7.02%	0.58%	3.07%	2.87%	5.75%
EBITDA Growth %	-	42.83%	31.97%	-232.84%	109.2%	528.57%	16.18%	-45.57%
D&A (Non-Cash Add-back)	53.62M	70.91M	127.52M	201M	231M	275M	433M	0
EBIT	-1.02B	-600.22M	-355.1M	-1.5B	-66M	632M	613M	0
Net Interest Income+	-67.02M	-77.77M	-96.77M	-36M	26M	130M	76M	0
Interest Income	3.92M	19.14M	10.99M	9M	53M	178M	216M	199M
Interest Expense	70.95M	96.91M	107.76M	45M	27M	48M	140M	-86M
Other Income/Expense	-42.85M	-55.2M	53.13M	-48M	19M	111M	37M	124M
Pretax Income+	-1.1B	-697.13M	-462.87M	-1.54B	-93M	584M	473M	597M
Pretax Margin %	-27.02%	-11.11%	-3.87%	-8.38%	-0.45%	2.4%	1.56%	7.26%
Income Tax+	2.28M	-241K	292K	1M	-1M	-776M	407M	383M
Effective Tax Rate %	100.21%	99.97%	100.06%	100.06%	98.92%	232.88%	32.56%	34.84%
Net Income+	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	154M	208M
Net Margin %	-27.08%	-11.11%	-3.87%	-8.38%	-0.45%	5.58%	0.51%	2.53%
Net Income Growth %	-	36.5%	33.54%	-233.15%	94.04%	1578.26%	-88.68%	35.06%
Net Income (Continuing)	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	66M	208M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	-1M	17.79B
EPS (Diluted)+	-0.69	-0.48	-0.33	-1.08	-0.05	0.75	0.08	0.11
EPS Growth %	-	30.43%	31.25%	-227.27%	95.18%	1539.54%	-88.76%	30.49%
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
Basic Shares Outstanding	1.6B	1.6B	1.71B	1.42B	1.76B	1.78B	1.79B	1.82B
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.23B	2.16B	2.84B	5.64B	5.83B	7.89B	8.99B	9.69B
Cash & Short-Term Investments	611.5M	1.22B	1.25B	3.49B	3.51B	5.24B	5.88B	6.32B
Cash Only	611.5M	1.22B	1.25B	3.49B	3.51B	5.24B	5.88B	6.32B
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	25.92M	63.85M	71.26M	175.35M	184M	314M	407M	363M
Days Sales Outstanding	2.33	3.72	2.17	3.48	3.26	4.7	4.91	16.11
Inventory	391.21M	631.74M	1.16B	1.42B	1.66B	1.67B	2.1B	2.26B
Days Inventory Outstanding	36.95	44	42.46	33.57	38.1	33.42	35.74	33.76
Other Current Assets	205.45M	237.15M	356.8M	552.25M	480M	669M	609M	754M
Total Non-Current Assets+	418.06M	1.07B	2.23B	3.01B	3.68B	5.45B	6.35B	8.1B
Property, Plant & Equipment	374.04M	1B	2.03B	2.72B	3.23B	4.07B	4.83B	7.03B
Fixed Asset Turnover	10.84x	6.25x	5.90x	6.76x	6.38x	6.00x	6.27x	1.17x
Goodwill	4.31M	3.99M	4.25M	9.74M	0	0	0	0
Intangible Assets	0	0	0	0	0	37M	271M	190M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	39.71M	67.51M	193.17M	273.13M	418M	426M	628M	278M
Total Assets+	1.65B	3.23B	5.07B	8.64B	9.51B	13.35B	15.34B	17.79B
Asset Turnover	2.45x	1.94x	2.36x	2.13x	2.16x	1.83x	1.97x	0.46x
Asset Growth %	-	95.49%	56.89%	70.54%	10.08%	40.29%	14.97%	15.92%
Total Current Liabilities+	1.54B	1.88B	3.73B	4.74B	5.06B	6.95B	7.72B	9.36B
Accounts Payable	1.18B	1.59B	2.91B	3.44B	3.62B	5.1B	5.55B	6.3B
Days Payables Outstanding	111.92	110.79	106.34	81.31	83.29	102.3	94.57	94.24
Short-Term Debt	243.88M	14.71M	224.25M	349.53M	304M	485M	545M	960M
Deferred Revenue (Current)	0	28.91M	65.26M	93.97M	92M	97M	141M	188M
Other Current Liabilities	66M	90.33M	212.48M	266.71M	420M	526M	593M	8.21B
Current Ratio	0.80x	1.15x	0.76x	1.19x	1.15x	1.14x	1.17x	1.04x
Quick Ratio	0.55x	0.81x	0.45x	0.89x	0.82x	0.90x	0.89x	0.79x
Cash Conversion Cycle	-72.63	-63.07	-61.7	-44.26	-41.92	-64.17	-53.92	-44.37
Total Non-Current Liabilities+	863.27M	4.88B	5.4B	1.72B	2.04B	2.31B	3.53B	3.81B
Long-Term Debt	688.45M	768.77M	943.19M	283.19M	538M	529M	988M	3.13B
Capital Lease Obligations	0	396.14M	859.48M	1.2B	1.23B	1.39B	1.77B	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	174.83M	3.72B	3.6B	237.12M	264M	396M	768M	677M
Total Liabilities	2.4B	6.76B	9.14B	6.47B	7.1B	9.26B	11.24B	13.16B
Total Debt+	932.32M	1.28B	2.23B	2.12B	2.4B	2.79B	3.73B	4.09B
Net Debt	320.82M	54.16M	982.66M	-1.37B	-1.11B	-2.46B	-2.15B	-2.23B
Debt / Equity	-	-	-	0.97x	1.00x	0.68x	0.91x	0.18x
Debt / EBITDA	-	-	-	-	20.18x	3.73x	4.29x	8.65x
Net Debt / EBITDA	-	-	-	-	-9.30x	-3.28x	-2.48x	-4.71x
Interest Coverage	-14.83x	-6.62x	-4.79x	-33.20x	-4.15x	9.85x	3.11x	-
Total Equity+	-752.61M	-3.53B	-4.07B	2.18B	2.41B	4.09B	4.1B	22.41B
Equity Growth %	-	-369.42%	-15.17%	153.48%	10.94%	69.39%	0.32%	446.32%
Book Value per Share	-0.47	-2.21	-2.38	1.53	1.37	2.27	2.25	12.08
Total Shareholders' Equity	-752.61M	-3.53B	-4.07B	2.18B	2.41B	4.09B	4.1B	4.62B
Common Stock	54.38M	0	45.12M	175K	0	0	0	0
Retained Earnings	-2.87B	-3.57B	-4.11B	-5.65B	-5.74B	-4.38B	-4.23B	-4.02B
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	13.35M	7.64M	-31.09M	-47.74M	3M	-17M	-404M	-381M
Minority Interest	0	0	0	0	0	0	-1M	17.79B

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-694.47M	-311.84M	301.55M	-411M	565M	2.65B	1.89B	1.77B
Operating CF Margin %	-17.13%	-4.97%	2.52%	-2.23%	2.74%	10.88%	6.23%	21.56%
Operating CF Growth %	-	55.1%	196.7%	-236.29%	237.47%	369.38%	-28.88%	-5.99%
Net Income	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	66M	208M
Depreciation & Amortization	53.62M	70.91M	127.52M	201M	231M	275M	433M	0
Stock-Based Compensation	27.33M	20.82M	31.33M	249M	262M	326M	433M	0
Deferred Taxes	0	0	0	0	-41M	-884M	225M	0
Other Non-Cash Items	96.39M	236.01M	222.45M	750M	583M	637M	694M	1.56B
Working Capital Changes	225.73M	57.3M	383.41M	-68M	-378M	938M	35M	0
Change in Receivables	19.97M	-39.98M	-4.31M	-120M	-34M	-133M	209M	0
Change in Inventory	-159.67M	-279.01M	-504.29M	-528M	-367M	-44M	-376M	0
Change in Payables	400.38M	416.51M	1.07B	728M	444M	1.51B	507M	0
Cash from Investing+	-91.83M	-218.22M	-520.65M	-676M	-848M	-927M	-819M	-1.25B
Capital Expenditures	-93.4M	-217.82M	-484.63M	-674M	-824M	-896M	-879M	-1.25B
CapEx % of Revenue	2.3%	3.47%	4.05%	3.66%	4%	3.67%	2.9%	15.22%
Acquisitions	0	0	0	0	0	0	68M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	1.57M	-401K	-36.02M	-2M	-24M	-31M	-8M	-3M
Cash from Financing+	1.24B	1.18B	178.5M	3.58B	247M	199M	-69M	-247M
Debt Issued (Net)	694.75M	-215.83M	246.93M	96M	229M	190M	105M	0
Equity Issued (Net)	1000K	-1000K	-1000K	1000K	0	0	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	0	-114.61M	-97.04M	0	0	0	-178M	0
Other Financing	0	1.51B	28.61M	50M	18M	9M	4M	-247M
Net Change in Cash	439.53M	631.63M	29.77M	2.41B	-123M	1.91B	434M	381M
Free Cash Flow+	-787.87M	-529.67M	-183.08M	-1.08B	-259M	1.76B	1.01B	522M
FCF Margin %	-19.44%	-8.44%	-1.53%	-5.89%	-1.26%	7.2%	3.33%	6.35%
FCF Growth %	-	32.77%	65.44%	-492.65%	76.13%	777.99%	-42.65%	-48.16%
FCF per Share	-0.49	-0.33	-0.11	-0.76	-0.15	0.97	0.55	0.28
FCF Conversion (FCF/Net Income)	0.63x	0.45x	-0.65x	0.27x	-6.14x	1.95x	12.25x	8.52x
Interest Paid	18.08M	19.06M	23.66M	21M	19M	31M	85M	0
Taxes Paid	644K	2.54M	857K	3M	6M	110M	138M	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-	-70.91%	-4.01%	41.83%	3.76%	1.57%
Return on Invested Capital (ROIC)	-	-	-	-138.45%	-7.94%	24.13%	18.26%	3.21%
Gross Margin	4.67%	16.47%	16.6%	16.03%	22.88%	25.39%	29.18%	-196.68%
Net Margin	-27.08%	-11.11%	-3.87%	-8.38%	-0.45%	5.58%	0.51%	2.53%
Debt / Equity	-	-	-	0.97x	1.00x	0.68x	0.91x	0.18x
Interest Coverage	-14.83x	-6.62x	-4.79x	-33.20x	-4.15x	9.85x	3.11x	-
FCF Conversion	0.63x	0.45x	-0.65x	0.27x	-6.14x	1.95x	12.25x	8.52x
Revenue Growth	-	54.76%	90.77%	53.8%	11.83%	18.46%	24.14%	-72.84%

US Stock Screener

...

Coupang, Inc. (CPNG) 10-Year Financial Performance & Capital Metrics

CPNG •

Consumer CyclicalSpecialty RetailGeneral Online Marketplaces

Revenue $8.22B -72.8%
EBITDA $473M -45.6%
Net Income $208M +35.1%
EPS (Diluted) 0.11 +30.5%
Gross Margin -196.68% -774.1%
EBITDA Margin 5.75% +100.4%
Operating Margin 5.75% +299.4%
Net Margin 2.53% +397.2%
ROE 1.57% -58.3%
ROIC 3.21% -82.4%
Debt/Equity 0.18 -79.9%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 15.7%

✗Weaknesses

✗Weak momentum: RS Rating 16 (bottom 16%)
✗Sales declining 7.2% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-7.23%

3Y-26.35%

TTM-72.84%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM35.06%

EPS CAGR

10Y-

5Y-

3Y-

TTM29.87%

ROCE

10Y Avg-139.56%

5Y Avg-7.79%

3Y Avg6.94%

Latest5.89%

Peer Comparison

General Online Marketplaces

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CPNGCoupang, Inc.	3.01B	19.08	173.45	-72.84%	2.53%	0.93%	17.32%	0.18
SESea Limited	4.94B	108.45	148.56	28.75%	6.23%	12.35%	59.87%	0.49
HOURHour Loop, Inc.	67.18M	1.91	102.14	4.64%	0.59%	10.89%	0.41%	0.14
MELIMercadoLibre, Inc.	89.1B	1757.58	44.62	39.06%	6.91%	29.59%	12.09%	1.69
AMZNAmazon.com, Inc.	2.25T	210.00	29.29	12.38%	10.83%	18.89%	0.34%	0.37
EBAYeBay Inc.	40.8B	90.86	20.94	7.95%	18.3%	44.01%	3.64%	1.53
BABAAlibaba Group Holding Limited	2.66T	144.11	18.44	5.86%	12.19%	11.1%	0.43%	0.23
PDDPDD Holdings Inc.	577.63B	103.73	9.36	59.04%	24.43%	26.13%	3.05%	0.03

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	4.05B	6.27B	11.97B	18.41B	20.58B	24.38B	30.27B	8.22B
Revenue Growth %	-	54.76%	90.77%	53.8%	11.83%	18.46%	24.14%	-72.84%
Cost of Goods Sold+	3.86B	5.24B	9.98B	15.46B	15.87B	18.19B	21.44B	24.39B
COGS % of Revenue	95.33%	83.53%	83.4%	83.97%	77.12%	74.61%	70.82%	296.68%
Gross Profit+	189.38M	1.03B	1.99B	2.95B	4.71B	6.19B	8.83B	-16.17B
Gross Margin %	4.67%	16.47%	16.6%	16.03%	22.88%	25.39%	29.18%	-196.68%
Gross Profit Growth %	-	445.57%	92.24%	48.57%	59.61%	31.42%	42.67%	-283.12%
Operating Expenses+	1.24B	1.68B	2.5B	4.45B	4.82B	5.72B	8.39B	9.67B
OpEx % of Revenue	30.63%	26.7%	20.91%	24.15%	23.43%	23.45%	27.74%	117.59%
Selling, General & Admin	1.24B	1.68B	2.5B	4.45B	4.82B	5.72B	8.39B	9.67B
SG&A % of Revenue	30.63%	26.7%	20.91%	24.15%	23.43%	23.45%	27.74%	117.59%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-1.05B	-641.92M	-515.99M	-1.49B	-112M	473M	436M	473M
Operating Margin %	-25.96%	-10.23%	-4.31%	-8.12%	-0.54%	1.94%	1.44%	5.75%
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	473M
EBITDA Margin %	-24.64%	-9.1%	-3.25%	-7.02%	0.58%	3.07%	2.87%	5.75%
EBITDA Growth %	-	42.83%	31.97%	-232.84%	109.2%	528.57%	16.18%	-45.57%
D&A (Non-Cash Add-back)	53.62M	70.91M	127.52M	201M	231M	275M	433M	0
EBIT	-1.02B	-600.22M	-355.1M	-1.5B	-66M	632M	613M	0
Net Interest Income+	-67.02M	-77.77M	-96.77M	-36M	26M	130M	76M	0
Interest Income	3.92M	19.14M	10.99M	9M	53M	178M	216M	199M
Interest Expense	70.95M	96.91M	107.76M	45M	27M	48M	140M	-86M
Other Income/Expense	-42.85M	-55.2M	53.13M	-48M	19M	111M	37M	124M
Pretax Income+	-1.1B	-697.13M	-462.87M	-1.54B	-93M	584M	473M	597M
Pretax Margin %	-27.02%	-11.11%	-3.87%	-8.38%	-0.45%	2.4%	1.56%	7.26%
Income Tax+	2.28M	-241K	292K	1M	-1M	-776M	407M	383M
Effective Tax Rate %	100.21%	99.97%	100.06%	100.06%	98.92%	232.88%	32.56%	34.84%
Net Income+	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	154M	208M
Net Margin %	-27.08%	-11.11%	-3.87%	-8.38%	-0.45%	5.58%	0.51%	2.53%
Net Income Growth %	-	36.5%	33.54%	-233.15%	94.04%	1578.26%	-88.68%	35.06%
Net Income (Continuing)	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	66M	208M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	-1M	17.79B
EPS (Diluted)+	-0.69	-0.48	-0.33	-1.08	-0.05	0.75	0.08	0.11
EPS Growth %	-	30.43%	31.25%	-227.27%	95.18%	1539.54%	-88.76%	30.49%
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
Basic Shares Outstanding	1.6B	1.6B	1.71B	1.42B	1.76B	1.78B	1.79B	1.82B
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.23B	2.16B	2.84B	5.64B	5.83B	7.89B	8.99B	9.69B
Cash & Short-Term Investments	611.5M	1.22B	1.25B	3.49B	3.51B	5.24B	5.88B	6.32B
Cash Only	611.5M	1.22B	1.25B	3.49B	3.51B	5.24B	5.88B	6.32B
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	25.92M	63.85M	71.26M	175.35M	184M	314M	407M	363M
Days Sales Outstanding	2.33	3.72	2.17	3.48	3.26	4.7	4.91	16.11
Inventory	391.21M	631.74M	1.16B	1.42B	1.66B	1.67B	2.1B	2.26B
Days Inventory Outstanding	36.95	44	42.46	33.57	38.1	33.42	35.74	33.76
Other Current Assets	205.45M	237.15M	356.8M	552.25M	480M	669M	609M	754M
Total Non-Current Assets+	418.06M	1.07B	2.23B	3.01B	3.68B	5.45B	6.35B	8.1B
Property, Plant & Equipment	374.04M	1B	2.03B	2.72B	3.23B	4.07B	4.83B	7.03B
Fixed Asset Turnover	10.84x	6.25x	5.90x	6.76x	6.38x	6.00x	6.27x	1.17x
Goodwill	4.31M	3.99M	4.25M	9.74M	0	0	0	0
Intangible Assets	0	0	0	0	0	37M	271M	190M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	39.71M	67.51M	193.17M	273.13M	418M	426M	628M	278M
Total Assets+	1.65B	3.23B	5.07B	8.64B	9.51B	13.35B	15.34B	17.79B
Asset Turnover	2.45x	1.94x	2.36x	2.13x	2.16x	1.83x	1.97x	0.46x
Asset Growth %	-	95.49%	56.89%	70.54%	10.08%	40.29%	14.97%	15.92%
Total Current Liabilities+	1.54B	1.88B	3.73B	4.74B	5.06B	6.95B	7.72B	9.36B
Accounts Payable	1.18B	1.59B	2.91B	3.44B	3.62B	5.1B	5.55B	6.3B
Days Payables Outstanding	111.92	110.79	106.34	81.31	83.29	102.3	94.57	94.24
Short-Term Debt	243.88M	14.71M	224.25M	349.53M	304M	485M	545M	960M
Deferred Revenue (Current)	0	28.91M	65.26M	93.97M	92M	97M	141M	188M
Other Current Liabilities	66M	90.33M	212.48M	266.71M	420M	526M	593M	8.21B
Current Ratio	0.80x	1.15x	0.76x	1.19x	1.15x	1.14x	1.17x	1.04x
Quick Ratio	0.55x	0.81x	0.45x	0.89x	0.82x	0.90x	0.89x	0.79x
Cash Conversion Cycle	-72.63	-63.07	-61.7	-44.26	-41.92	-64.17	-53.92	-44.37
Total Non-Current Liabilities+	863.27M	4.88B	5.4B	1.72B	2.04B	2.31B	3.53B	3.81B
Long-Term Debt	688.45M	768.77M	943.19M	283.19M	538M	529M	988M	3.13B
Capital Lease Obligations	0	396.14M	859.48M	1.2B	1.23B	1.39B	1.77B	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	174.83M	3.72B	3.6B	237.12M	264M	396M	768M	677M
Total Liabilities	2.4B	6.76B	9.14B	6.47B	7.1B	9.26B	11.24B	13.16B
Total Debt+	932.32M	1.28B	2.23B	2.12B	2.4B	2.79B	3.73B	4.09B
Net Debt	320.82M	54.16M	982.66M	-1.37B	-1.11B	-2.46B	-2.15B	-2.23B
Debt / Equity	-	-	-	0.97x	1.00x	0.68x	0.91x	0.18x
Debt / EBITDA	-	-	-	-	20.18x	3.73x	4.29x	8.65x
Net Debt / EBITDA	-	-	-	-	-9.30x	-3.28x	-2.48x	-4.71x
Interest Coverage	-14.83x	-6.62x	-4.79x	-33.20x	-4.15x	9.85x	3.11x	-
Total Equity+	-752.61M	-3.53B	-4.07B	2.18B	2.41B	4.09B	4.1B	22.41B
Equity Growth %	-	-369.42%	-15.17%	153.48%	10.94%	69.39%	0.32%	446.32%
Book Value per Share	-0.47	-2.21	-2.38	1.53	1.37	2.27	2.25	12.08
Total Shareholders' Equity	-752.61M	-3.53B	-4.07B	2.18B	2.41B	4.09B	4.1B	4.62B
Common Stock	54.38M	0	45.12M	175K	0	0	0	0
Retained Earnings	-2.87B	-3.57B	-4.11B	-5.65B	-5.74B	-4.38B	-4.23B	-4.02B
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	13.35M	7.64M	-31.09M	-47.74M	3M	-17M	-404M	-381M
Minority Interest	0	0	0	0	0	0	-1M	17.79B

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-694.47M	-311.84M	301.55M	-411M	565M	2.65B	1.89B	1.77B
Operating CF Margin %	-17.13%	-4.97%	2.52%	-2.23%	2.74%	10.88%	6.23%	21.56%
Operating CF Growth %	-	55.1%	196.7%	-236.29%	237.47%	369.38%	-28.88%	-5.99%
Net Income	-1.1B	-696.88M	-463.16M	-1.54B	-92M	1.36B	66M	208M
Depreciation & Amortization	53.62M	70.91M	127.52M	201M	231M	275M	433M	0
Stock-Based Compensation	27.33M	20.82M	31.33M	249M	262M	326M	433M	0
Deferred Taxes	0	0	0	0	-41M	-884M	225M	0
Other Non-Cash Items	96.39M	236.01M	222.45M	750M	583M	637M	694M	1.56B
Working Capital Changes	225.73M	57.3M	383.41M	-68M	-378M	938M	35M	0
Change in Receivables	19.97M	-39.98M	-4.31M	-120M	-34M	-133M	209M	0
Change in Inventory	-159.67M	-279.01M	-504.29M	-528M	-367M	-44M	-376M	0
Change in Payables	400.38M	416.51M	1.07B	728M	444M	1.51B	507M	0
Cash from Investing+	-91.83M	-218.22M	-520.65M	-676M	-848M	-927M	-819M	-1.25B
Capital Expenditures	-93.4M	-217.82M	-484.63M	-674M	-824M	-896M	-879M	-1.25B
CapEx % of Revenue	2.3%	3.47%	4.05%	3.66%	4%	3.67%	2.9%	15.22%
Acquisitions	0	0	0	0	0	0	68M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	1.57M	-401K	-36.02M	-2M	-24M	-31M	-8M	-3M
Cash from Financing+	1.24B	1.18B	178.5M	3.58B	247M	199M	-69M	-247M
Debt Issued (Net)	694.75M	-215.83M	246.93M	96M	229M	190M	105M	0
Equity Issued (Net)	1000K	-1000K	-1000K	1000K	0	0	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	0	-114.61M	-97.04M	0	0	0	-178M	0
Other Financing	0	1.51B	28.61M	50M	18M	9M	4M	-247M
Net Change in Cash	439.53M	631.63M	29.77M	2.41B	-123M	1.91B	434M	381M
Free Cash Flow+	-787.87M	-529.67M	-183.08M	-1.08B	-259M	1.76B	1.01B	522M
FCF Margin %	-19.44%	-8.44%	-1.53%	-5.89%	-1.26%	7.2%	3.33%	6.35%
FCF Growth %	-	32.77%	65.44%	-492.65%	76.13%	777.99%	-42.65%	-48.16%
FCF per Share	-0.49	-0.33	-0.11	-0.76	-0.15	0.97	0.55	0.28
FCF Conversion (FCF/Net Income)	0.63x	0.45x	-0.65x	0.27x	-6.14x	1.95x	12.25x	8.52x
Interest Paid	18.08M	19.06M	23.66M	21M	19M	31M	85M	0
Taxes Paid	644K	2.54M	857K	3M	6M	110M	138M	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-	-70.91%	-4.01%	41.83%	3.76%	1.57%
Return on Invested Capital (ROIC)	-	-	-	-138.45%	-7.94%	24.13%	18.26%	3.21%
Gross Margin	4.67%	16.47%	16.6%	16.03%	22.88%	25.39%	29.18%	-196.68%
Net Margin	-27.08%	-11.11%	-3.87%	-8.38%	-0.45%	5.58%	0.51%	2.53%
Debt / Equity	-	-	-	0.97x	1.00x	0.68x	0.91x	0.18x
Interest Coverage	-14.83x	-6.62x	-4.79x	-33.20x	-4.15x	9.85x	3.11x	-
FCF Conversion	0.63x	0.45x	-0.65x	0.27x	-6.14x	1.95x	12.25x	8.52x
Revenue Growth	-	54.76%	90.77%	53.8%	11.83%	18.46%	24.14%	-72.84%

Coupang, Inc. (CPNG) 10-Year Financial Performance & Capital Metrics

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Coupang, Inc. (CPNG) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare CPNG vs Peers

vs BABA

vs AMZN

Compare Top 5

Profit & Loss

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Deep Dive Analysis

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