8 years of historical data (2018–2025) · Consumer Cyclical · Specialty Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Coupang, Inc. trades at 173.5x earnings, roughly in line with 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 18.8x, the stock trades at a premium of 825%. On a free-cash-flow basis, the stock trades at 5.8x P/FCF, 88% below 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 | $3.0B | $43.8B | $40.1B | $29.2B | $26.0B | $41.8B | — | — | — |
| Enterprise Value | $787M | $41.5B | $38.0B | $26.7B | $24.9B | $40.5B | — | — | — |
| P/E Ratio → | 173.45 | 214.45 | 260.74 | 21.59 | — | — | — | — | — |
| P/S Ratio | 0.37 | 5.32 | 1.33 | 1.20 | 1.26 | 2.27 | — | — | — |
| P/B Ratio | 1.58 | 1.95 | 9.78 | 7.14 | 10.75 | 19.23 | — | — | — |
| P/FCF | 5.78 | 83.83 | 39.86 | 16.62 | — | — | — | — | — |
| P/OCF | 1.70 | 24.68 | 21.28 | 11.01 | 45.94 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Coupang, Inc.'s enterprise value stands at 1.7x EBITDA, 98% below its 5-year average of 94.0x. The Consumer Cyclical sector median is 11.0x, placing the stock at a 85% discount 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 | — | 5.05 | 1.25 | 1.10 | 1.21 | 2.20 | — | — | — |
| EV / EBITDA | 1.66 | 87.80 | 43.71 | 35.74 | 208.83 | — | — | — | — |
| EV / EBIT | 1.66 | — | 61.96 | 42.30 | — | — | — | — | — |
| EV / FCF | — | 79.56 | 37.72 | 15.22 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Coupang, Inc. earns an operating margin of 5.8%, above the Consumer Cyclical sector average of 2.4%. Operating margins have expanded from 1.9% to 5.8% over the past 3 years, signaling improving operational efficiency. ROE of 1.6% is modest, trailing the sector median of 6.5%. ROIC of 3.2% represents below-average returns on invested capital versus a sector median of 5.6%.
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 | -196.7% | -196.7% | 29.2% | 25.4% | 22.9% | 16.0% | 16.6% | 16.5% | 4.7% |
| Operating Margin | 5.8% | 5.8% | 1.4% | 1.9% | -0.5% | -8.1% | -4.3% | -10.2% | -26.0% |
| Net Profit Margin | 2.5% | 2.5% | 0.5% | 5.6% | -0.4% | -8.4% | -3.9% | -11.1% | -27.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.6% | 1.6% | 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 | 3.2% | 3.2% | 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% |
Solvency and debt-coverage ratios — lower is generally safer
Coupang, Inc. carries a Debt/EBITDA ratio of 8.6x, which is highly leveraged (107% above the sector average of 4.2x). The company holds a net cash position — cash of $6.3B exceeds total debt of $4.1B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.91 | 0.68 | 1.00 | 0.97 | — | — | — |
| Debt / EBITDA | 8.65 | 8.65 | 4.29 | 3.73 | 20.18 | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.53 | -0.60 | -0.46 | -0.63 | — | — | — |
| Net Debt / EBITDA | -4.71 | -4.71 | -2.48 | -3.28 | -9.30 | — | — | — | — |
| Debt / FCF | — | -4.27 | -2.14 | -1.40 | — | — | — | — | — |
| Interest Coverage | — | — | 3.11 | 9.85 | -4.15 | -33.20 | -4.79 | -6.62 | -14.83 |
Net cash position: cash ($6.3B) exceeds total debt ($4.1B)
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 | — | 0.46 | 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 | — | 16.11 | 4.91 | 4.70 | 3.26 | 3.48 | 2.17 | 3.72 | 2.33 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Coupang, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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 | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.5% | 0.4% | 4.6% | — | — | — | — | — |
| FCF Yield | 17.3% | 1.2% | 2.5% | 6.0% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 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 |
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 | $3B | 173.5 | 1.7 | 5.8 | -196.7% | 5.8% | 1.6% | 3.2% | 8.6 |
| BABA | $2.7T | 18.4 | 104.2 | 233.7 | 40.0% | 14.1% | 11.8% | 9.6% | 1.4 |
| AMZN | $2.3T | 29.3 | 18.4 | 293.0 | 50.3% | 11.2% | 22.3% | 14.7% | 1.2 |
| PDD | $578B | 9.4 | 35.9 | 32.8 | 60.9% | 27.5% | 44.9% | 40.3% | 0.1 |
| MELI | $89B | 44.6 | 24.1 | 8.3 | 44.5% | 11.1% | 36.0% | 20.8% | 2.8 |
| EBAY | $41B | 20.9 | 17.9 | 27.5 | 71.5% | 20.5% | 41.6% | 17.0% | 2.7 |
| JD | $8B | 6.8 | 0.8 | 1.3 | 9.8% | 3.3% | 13.6% | 9.9% | 1.9 |
| SE | $5B | 148.6 | 6.3 | 1.7 | 42.8% | 3.9% | 5.9% | 5.4% | 3.9 |
| YJ | $1B | -0.4 | — | — | 49.4% | -32.6% | -10.9% | -13.1% | — |
| JMIA | $1B | — | — | — | 53.9% | -33.5% | -109.9% | -3258.1% | — |
| HEPS | $853M | -23.3 | 16.0 | — | 37.5% | 0.0% | -39.7% | — | 1.1 |
| Consumer Cyclical Median | — | 18.8 | 11.0 | 14.0 | 38.6% | 2.4% | 6.5% | 5.6% | 4.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 8 years · Updated daily
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorSee our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationSee how CPNG stacks up against sector leader Alibaba Group Holding Limited.
Start ComparisonCoupang, Inc.'s current P/E ratio is 173.5x. The historical average is 21.6x. This places it at the 100th percentile of its historical range.
Coupang, Inc.'s current EV/EBITDA is 1.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 55.8x.
Coupang, Inc.'s return on equity (ROE) is 1.6%. The historical average is -5.6%.
Based on historical data, Coupang, Inc. is trading at a P/E of 173.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Coupang, Inc. has -196.7% gross margin and 5.8% operating margin.
Coupang, Inc.'s Debt/EBITDA ratio is 8.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.