CPNG

Coupang
D

CPNG

Arincen49/100B

Coupang financials

Not at the moment. Coupang lost 1.36B USD over the last twelve months. It made a profit in 3 of its 8 fiscal years since 2018. Its last loss was in fiscal year 2022.

Revenue (TTM)
36.16B USD
Net income (TTM)
-1.36B USD
Free cash flow (TTM)
-412.00M USD
Cash and short-term investments
5.44B USD
Total debt
5.06B USD
Shareholders' equity
2.84B USD

Cash, debt and equity as of 30 Sept 2026.

Coupang earnings

Next earnings · Q4 FY2026
EPS estimate
0.02 USD
Revenue estimate
10.41B USD
Last quarter · Q3 FY2026
EPS-0.18Missed -90.3%Revenue9.96BBeat +2.1%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q4 FY20260.02———10.41B——+17.80%
Q3 FY2026-0.09-0.18-90.34%-460.00%9.76B9.96B+2.09%+7.50%
Q2 FY2026-0.27-0.32-18.99%-1,700.00%8.92B8.86B-0.74%+3.89%
Q1 FY2026-0.09-0.15-60.67%-350.00%8.48B8.50B+0.32%+7.54%
Q4 FY20250.03-0.01-134.54%-125.00%9.06B8.84B-2.48%+10.92%
Q3 FY20250.040.05+36.46%-16.67%9.15B9.27B+1.32%+17.81%
Q2 FY20250.070.02-69.67%-71.43%8.38B8.52B+1.72%+16.40%

Coupang growth and profitability

Full income statement
Revenue (TTM)
36.16B USD
Net income (TTM)
-1.36B USD
Gross margin
27.37%
Operating margin
-3.43%
Net margin
-3.77%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202534.53B+14.09%208.00M+35.06%29.37%1.37%0.60%1.20B+14.72%
FY202430.27B+24.14%154.00M-88.68%29.18%1.44%0.51%1.05B+15.33%
FY202324.38B+18.46%1.36B—25.39%1.94%5.58%907.00M+449.70%
FY202220.58B+11.83%-92.00M—22.88%-0.54%-0.45%165.00M—
FY202118.41B+53.80%-1.54B—16.03%-8.12%-8.38%-1.30B—

How Coupang makes its money

Product26.31B 76.2%
Third-Party Merchant Services7.11B 20.6%
Service, Other1.11B 3.2%
Revenue34.53B 100.0%
Cost of revenue24.39B 70.6%
Gross profit10.14B 29.4%
Selling and administration9.67B 28.0%
Operating income473.00M 1.4%
Tax383.00M 1.1%
Net income208.00M 0.6%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Coupang revenue breakdown

By product

FY2025
Product: 76.2%Third-Party Merchant Services: 20.6%Service, Other: 3.2%76.2%Product20.6%Third-Party Merchant Services3.2%Service, Other
SegmentRevenueShare of revenueChange on the year
Product26.31B76.2%+10.2%
Third-Party Merchant Services7.11B20.6%+27.5%
Service, Other1.11B3.2%+34.9%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20251.77B522.00M
FY20241.89B1.01B
FY20232.65B1.76B
FY2022565.00M-259.00M
FY2021-411.00M-1.09B
FY2020301.55M-183.08M
FY2019-311.84M-529.67M
FY2018-694.47M-787.87M

Coupang financial health

Full balance sheet
Cash and short-term investments
5.44B USD
Total debt
5.06B USD
Net cash
387.00M USD
Free cash flow (TTM)
-412.00M USD
Current ratio
0.80
Debt to equity
1.78
Piotroski score
4 / 9
Altman Z-score
2.34

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20256.32B4.64B522.00M
FY20245.88B3.73B1.01B
FY20235.24B2.79B1.76B
FY20223.51B2.40B-259.00M
FY20213.49B2.12B-1.09B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY202517.79B13.16B4.62B
FY202415.34B11.24B4.10B
FY202313.35B9.26B4.09B
FY20229.51B7.10B2.41B
FY20218.64B6.47B2.18B
FY20205.07B9.14B-4.07B
FY20193.23B6.76B-3.53B
FY20181.65B2.40B-752.61M

Coupang valuation

Forward P/E (FY2027)
61.05
Price to sales (TTM)
0.75
Price to book
9.59

Capital structure

Market capitalization
27.21B USD
+
Total debt
5.06B USD
−
Cash and short-term investments
5.44B USD
=
Enterprise value
26.82B USD

Valuation over time

P/EForward P/EForward P/E · Estimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)22.55————
FY2027 (est.)61.0522.55———
Now (TTM)—128.850.759.59—
FY2025214.4549,516.381.249.2834.34
FY2024256.18134.211.309.6135.64
FY202321.3098.591.187.0629.10
FY2022-282.3460.341.2610.75150.61
FY2021-27.20—2.2719.23-31.22

Coupang against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Williams-Sonoma, Ulta Beauty, Casey's General Stores, Best Buy Co., Tractor Supply, and AutoZone, the US Specialty Retail companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • Gross marginHighest in 5 years29.4%
    16.0%29.4%
    Against its peers: 5 of 7Peers' median 36.2%
  • Operating marginAt its median1.4%
    -8.1%1.9%
    Against its peers: 7 of 7Peers' median 11.0%
  • Net marginAbove its median0.6%
    -8.4%5.6%
    Against its peers: 7 of 7Peers' median 8.2%
  • Return on equityAbove its median4.5%
    -70.9%33.3%
    Against its peers: 6 of 6Peers' median 41.1%
  • Free cash flow marginAt its median1.5%
    -5.9%7.2%
    Against its peers: 7 of 7Peers' median 6.7%
  • Revenue growthBelow its median14.1%
    11.8%53.8%
    Against its peers: 1 of 7Peers' median 5.8%
  • Debt to EBITDAAbove its median3.86×
    3.07×14.56×
    Against its peers: 7 of 7Peers' median 1.95×
  • Current ratioLowest in 5 years1.04
    1.041.19
    Against its peers: 5 of 7Peers' median 1.22

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Coupang ownership

Institutions
74.98%
Institutional holders
648 (-15)
Free float
74.67%

Who owns the shares

Institutions 75.0% Others 25.0%
As of 30 Jun 2026

Shares free to trade

Free float 1.34B shares ·74.7% Closely held 454.02M shares ·25.3%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q3 2026020.00197.63K
Q2 202600653.17K0.00
Q1 2026317.81M2.68K
Q4 2025020.0087.00K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY20251.82B1.86B+1.59%
FY20241.79B1.83B+1.28%
FY20231.78B1.80B+2.18%
FY20221.76B1.76B+23.93%
FY20211.42B1.42B-16.57%

Common questions about Coupang's financials

Source: Financial Modeling PrepVerified against SEC filings