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Coupang total debt 2018–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Coupang's total debt was 5.06B USD on 30 September 2026, up 2.2% on a year before. At the end of fiscal year 2025 it was 4.64B USD.
Last updated 11 Nov 2026 · Next report 25 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 5.06B | +2.18% | 5.44B | 387.00M | 1.78 |
| FY2025 | 31 Dec 2025 | 4.64B | +24.43% | 6.32B | 1.68B | 1.00 |
| FY2024 | 31 Dec 2024 | 3.73B | +33.66% | 5.88B | 2.15B | 0.91 |
| FY2023 | 31 Dec 2023 | 2.79B | +16.03% | 5.24B | 2.46B | 0.68 |
| FY2022 | 31 Dec 2022 | 2.40B | +13.25% | 3.51B | 1.11B | 1.00 |
| FY2021 | 31 Dec 2021 | 2.12B | -5.06% | 3.49B | 1.37B | 0.97 |
| FY2020 | 31 Dec 2020 | 2.23B | +75.03% | 1.25B | -982.67M | — |
| FY2019 | 31 Dec 2019 | 1.28B | +36.91% | 1.22B | -54.16M | — |
| FY2018 | 31 Dec 2018 | 932.32M | — | 611.50M | -320.82M | — |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 5.06B | +2.18% | 5.44B | 387.00M | 1.78 |
| Q2 FY2026 | 30 Jun 2026 | 5.63B | +23.02% | 6.11B | 477.00M | 1.89 |
| Q1 FY2026 | 31 Mar 2026 | 5.40B | +32.25% | 6.30B | 905.00M | 1.37 |
| Q4 FY2025 | 31 Dec 2025 | 4.64B | +24.43% | 6.32B | 1.68B | 1.00 |
| Q3 FY2025 | 30 Sept 2025 | 4.95B | +23.08% | 7.23B | 2.28B | 1.04 |
| Q2 FY2025 | 30 Jun 2025 | 4.58B | +23.26% | 6.80B | 2.22B | 0.98 |
| Q1 FY2025 | 31 Mar 2025 | 4.08B | +12.80% | 6.11B | 2.03B | 0.93 |
| Q4 FY2024 | 31 Dec 2024 | 3.73B | +33.66% | 5.88B | 2.15B | 0.91 |
| Q3 FY2024 | 30 Sept 2024 | 4.02B | +44.21% | 5.82B | 1.80B | 0.96 |
| Q2 FY2024 | 30 Jun 2024 | 3.72B | +36.40% | 5.54B | 1.82B | 0.96 |
| Q1 FY2024 | 31 Mar 2024 | 3.62B | +51.16% | 5.23B | 1.61B | 0.89 |
| Q4 FY2023 | 31 Dec 2023 | 2.79B | +16.03% | 5.24B | 2.46B | 0.68 |
| Q3 FY2023 | 30 Sept 2023 | 2.79B | +30.08% | 4.86B | 2.07B | 0.95 |
| Q2 FY2023 | 30 Jun 2023 | 2.72B | +22.68% | 4.47B | 1.75B | 0.98 |
| Q1 FY2023 | 31 Mar 2023 | 2.39B | -0.64% | 3.79B | 1.40B | 0.93 |
| Q4 FY2022 | 31 Dec 2022 | 2.40B | +13.25% | 3.51B | 1.11B | 1.00 |
| Q3 FY2022 | 30 Sept 2022 | 2.14B | +2.71% | 2.90B | 759.42M | 0.99 |
| Q2 FY2022 | 30 Jun 2022 | 2.22B | +12.98% | 3.11B | 887.43M | 1.07 |
| Q1 FY2022 | 31 Mar 2022 | 2.41B | +34.02% | 3.37B | 960.99M | 1.18 |
| Q4 FY2021 | 31 Dec 2021 | 2.12B | — | 3.49B | 1.37B | 0.97 |
| Q3 FY2021 | 30 Sept 2021 | 2.09B | — | 3.93B | 1.84B | 0.81 |
| Q2 FY2021 | 30 Jun 2021 | 1.97B | — | 4.28B | 2.32B | 0.70 |
| Q1 FY2021 | 31 Mar 2021 | 1.80B | — | 4.33B | 2.54B | 0.55 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Coupang's debt
Source: Financial Modeling PrepVerified against SEC filings