Coupang, Inc. (CPNG) Financial Ratios
8 years of historical data (2018–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↓
52.45
↓-40% vs avg
5yr avg: 87.47
30Y Low35.7·High61.6
P/FCF
↑
71.86
↑+54% vs avg
5yr avg: 46.77
30Y Low16.6·High83.8
P/B Ratio
↓
8.33
↓-26% vs avg
5yr avg: 11.27
30Y Low7.1·High19.2
ROE
↑
4.8%
↓+197% vs avg
5yr avg: -4.9%
30Y Low-71%·High42%
Debt/EBITDA
↓
6.79
↓-22% vs avg
5yr avg: 8.75
30Y Low3.7·High20.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CPNG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Coupang, Inc. trades at 188.7x earnings, 14% above its 5-year average of 165.6x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.3x, the stock trades at a premium of 879%. On a free-cash-flow basis, the stock trades at 71.9x P/FCF, 54% above the 5-year average of 46.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $37.5B | $43.8B | $40.1B | $29.2B | $26.0B | $41.8B | — | — | — |
| Enterprise Value | $35.8B | $42.1B | $38.0B | $26.7B | $24.9B | $40.5B | — | — | — |
| P/E Ratio → | 188.73 | 214.45 | 260.74 | 21.59 | — | — | — | — | — |
| P/S Ratio | 1.09 | 1.27 | 1.33 | 1.20 | 1.26 | 2.27 | — | — | — |
| P/B Ratio | 8.33 | 9.47 | 9.78 | 7.14 | 10.75 | 19.23 | — | — | — |
| P/FCF | 71.86 | 83.83 | 39.86 | 16.62 | — | — | — | — | — |
| P/OCF | 21.16 | 24.68 | 21.28 | 11.01 | 45.94 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
CPNG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Coupang, Inc.'s enterprise value stands at 52.5x EBITDA, 40% below its 5-year average of 87.5x. The Consumer Cyclical sector median is 11.3x, placing the stock at a 363% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.22 | 1.25 | 1.10 | 1.21 | 2.20 | — | — | — |
| EV / EBITDA | 52.45 | 61.61 | 43.71 | 35.74 | 208.83 | — | — | — | — |
| EV / EBIT | 75.74 | 61.61 | 61.96 | 42.30 | — | — | — | — | — |
| EV / FCF | — | 80.61 | 37.72 | 15.22 | — | — | — | — | — |
CPNG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Coupang, Inc. earns an operating margin of 1.4%, roughly in line with the Consumer Cyclical sector average. ROE of 4.8% is modest, trailing the sector median of 5.8%. ROIC of 14.5% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.4% | 29.4% | 29.2% | 25.4% | 22.9% | 16.0% | 16.6% | 16.5% | 4.7% |
| Operating Margin | 1.4% | 1.4% | 1.4% | 1.9% | -0.5% | -8.1% | -4.3% | -10.2% | -26.0% |
| Net Profit Margin | 0.6% | 0.6% | 0.5% | 5.6% | -0.4% | -8.4% | -3.9% | -11.1% | -27.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.8% | 4.8% | 3.8% | 41.8% | -4.0% | -70.9% | — | — | — |
| ROA | 1.3% | 1.3% | 1.1% | 11.9% | -1.0% | -22.5% | -11.2% | -28.5% | -66.4% |
| ROIC | 14.5% | 14.5% | 18.3% | 24.1% | -7.9% | -138.5% | — | — | — |
| ROCE | 5.9% | 5.9% | 6.2% | 8.7% | -2.7% | -57.1% | -38.5% | -88.0% | -951.0% |
CPNG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Coupang, Inc. carries a Debt/EBITDA ratio of 6.8x, which is highly leveraged (58% above the sector average of 4.3x). The company holds a net cash position — cash of $6.3B exceeds total debt of $4.6B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 7.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.00 | 1.00 | 0.91 | 0.68 | 1.00 | 0.97 | — | — | — |
| Debt / EBITDA | 6.79 | 6.79 | 4.29 | 3.73 | 20.18 | — | — | — | — |
| Net Debt / Equity | — | -0.36 | -0.53 | -0.60 | -0.46 | -0.63 | — | — | — |
| Net Debt / EBITDA | -2.46 | -2.46 | -2.48 | -3.28 | -9.30 | — | — | — | — |
| Debt / FCF | — | -3.22 | -2.14 | -1.40 | — | — | — | — | — |
| Interest Coverage | 7.94 | 7.94 | 4.38 | 13.17 | -2.44 | -33.27 | -3.30 | -6.19 | -14.44 |
Net cash position: cash ($6.3B) exceeds total debt ($4.6B)
CPNG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.04x means Coupang, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.14x to 1.04x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.04 | 1.04 | 1.17 | 1.14 | 1.15 | 1.19 | 0.76 | 1.15 | 0.80 |
| Quick Ratio | 0.79 | 0.79 | 0.89 | 0.90 | 0.82 | 0.89 | 0.45 | 0.81 | 0.55 |
| Cash Ratio | 0.68 | 0.68 | 0.76 | 0.75 | 0.69 | 0.74 | 0.34 | 0.65 | 0.40 |
| Asset Turnover | — | 1.94 | 1.97 | 1.83 | 2.16 | 2.13 | 2.36 | 1.94 | 2.45 |
| Inventory Turnover | 10.81 | 10.81 | 10.21 | 10.92 | 9.58 | 10.87 | 8.60 | 8.29 | 9.88 |
| Days Sales Outstanding | — | 3.84 | 4.91 | 4.70 | 3.26 | 3.48 | 2.17 | 3.72 | 2.33 |
CPNG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Coupang, Inc. returns 0.6% to shareholders annually primarily through share buybacks. The earnings yield of 0.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.5% | 0.5% | 0.4% | 4.6% | — | — | — | — | — |
| FCF Yield | 1.4% | 1.2% | 2.5% | 6.0% | — | — | — | — | — |
| Buyback Yield | 0.6% | 0.6% | 0.4% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.6% | 0.6% | 0.4% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $1.9B | $1.8B | $1.8B | $1.8B | $1.4B | $1.7B | $1.6B | $1.6B |
Peer Comparison
Compare CPNG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CPNGYou | $38B | 188.7 | 52.5 | 71.9 | 29.4% | 1.4% | 4.8% | 14.5% | 6.8 |
 AMZN | $2.9T | 38.1 | 20.6 | 382.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 SE | $51B | 115.7 | 50.2 | 17.3 | 42.8% | 3.9% | 5.9% | 5.4% | 3.9 |
 JD | $46B | 7.5 | 6.3 | 7.0 | 9.8% | 3.3% | 13.6% | 9.9% | 1.9 |
 MELI | $92B | 46.1 | 24.8 | 8.5 | 44.5% | 11.1% | 36.0% | 20.8% | 2.8 |
 BABA | $319B | 16.8 | 12.8 | 27.8 | 40.0% | 14.1% | 11.8% | 9.6% | 1.4 |
 DASH | $72B | 78.0 | 48.0 | 32.9 | 50.9% | 5.3% | 10.5% | 8.2% | 2.2 |
 GRAB | $15B | 57.8 | 34.9 | 109.1 | 43.2% | 6.0% | 4.1% | 3.3% | 5.4 |
 GLBE | $5B | 81.1 | 55.5 | 19.0 | 45.3% | 7.4% | 7.5% | 7.7% | 0.5 |
 UPS | $83B | 14.9 | 9.0 | 17.5 | 18.5% | 9.6% | 33.8% | 16.1% | 2.6 |
 FDX | $85B | 21.6 | 11.3 | 28.6 | 21.6% | 6.9% | 14.7% | 7.7% | 3.6 |
| Consumer Cyclical Median | — | 19.3 | 11.3 | 14.6 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonCPNG — Frequently Asked Questions
Quick answers to the most common questions about buying CPNG stock.
What is Coupang, Inc.'s P/E ratio?
Coupang, Inc.'s current P/E ratio is 188.7x. The historical average is 21.6x. This places it at the 100th percentile of its historical range.
What is Coupang, Inc.'s EV/EBITDA?
Coupang, Inc.'s current EV/EBITDA is 52.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.0x.
What is Coupang, Inc.'s ROE?
Coupang, Inc.'s return on equity (ROE) is 4.8%. The historical average is -4.9%.
Is CPNG stock overvalued?
Based on historical data, Coupang, Inc. is trading at a P/E of 188.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Coupang, Inc.'s profit margins?
Coupang, Inc. has 29.4% gross margin and 1.4% operating margin.
How much debt does Coupang, Inc. have?
Coupang, Inc.'s Debt/EBITDA ratio is 6.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.