Coupang
CPNG NYSE· Broadline Retail
Last close · Oct 26, 2026
$13.75
KIRA · Stoqly’s AI analyst, in plain words
- Coupang had $34.5B of revenue in fiscal 2025, up 14.1% on the year before. Over five years, revenue changed +23.6% a year on average.
- Its operating margin was 1.4%, down 0.1 pts: of every 100 in sales, about 1 is left after running the business.
- Coupang made $208M of net profit in fiscal 2025.
- Free cash flow was $522M in fiscal 2025, 1.5% of revenue.
- Coupang returned $243M to shareholders in fiscal 2025, 47% of free cash flow. The diluted share count rose 1.6%.
- Coupang has $4.7B more cash than debt.
Market cap
$24.7B
P/E
—
Revenue
$34.5B
Net income
$208M
Free cash flow
$522M
Operating margin
1.4%
Coupang in 30 seconds · fiscal 2025
Are sales growing?
+14.1%
Yes. Sales grew 14.1% last year.
Does it make a profit?
0.6%
A little. It keeps 0.6% of every sale as profit.
Does profit turn into cash?
1.5%
Partly. 1.5% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
What Coupang does
Coupang is an online retailer that also runs restaurant delivery, video streaming and financial services. It sells under brands that include Coupang, Eats, Play, Rocket Now and Farfetch, the last of which is an online marketplace for luxury goods. Customers can order everyday items, general merchandise, fresh groceries and niche products, with delivery that can arrive the next day or the same day. The company reports two segments: Product Commerce and Developing Offerings. It earns money by selling products, by letting small and medium-sized merchants sell through its apps and websites, and through its WOW membership program, which gives members delivery benefits and other perks. It also earns from advertising on its platforms. Coupang says it controls the whole experience from technology to warehouses and delivery, and it builds its own fulfillment and logistics network. It also ships goods for sellers in the United States from its own facilities.
Biggest risks, in its own words
- Failing to manage its growth, including the expansion of its warehouse and delivery network.
- Strong competition in online retail and delivery that could cost it customers or sales.
- Expanding into new countries and new services that may prove harder or costlier than expected.
- Inventory risks, and the strain that seasonal peaks put on its operations.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- COUPANG, INC.
- CIK
- 0001834584
Coupang · CPNG
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $18.4B | $20.6B | $24.4B | $30.3B | $34.5B |
| Revenue growth | 53.8% | 11.8% | 18.5% | 24.1% | 14.1% |
| Gross margin | 16.0% | 22.9% | 25.4% | 29.2% | 29.4% |
| Operating margin | −8.1% | −0.5% | 1.9% | 1.4% | 1.4% |
| Net income | −$1.5B | −$92.0M | $1.4B | $154M | $208M |
| Net margin | −8.4% | −0.5% | 5.6% | 0.5% | 0.6% |
| Diluted EPS | −$1.08 | −$0.05 | $0.75 | $0.08 | $0.11 |
| Cash | |||||
| Cash from operations | −$411M | $565M | $2.7B | $1.9B | $1.8B |
| Capital expenditure | $674M | $824M | $896M | $879M | $1.3B |
| Free cash flow | −$1.1B | −$259M | $1.8B | $1.0B | $522M |
| FCF margin | −5.9% | −1.3% | 7.2% | 3.3% | 1.5% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $178M | $243M |
| Share count change | 4,808.3% | 24.0% | 2.2% | 1.3% | 1.6% |
| Debt and strength | |||||
| Cash and short-term investments | $3.5B | $3.5B | $5.2B | $5.9B | $6.3B |
| Debt incl. finance leases | $291M | $713M | $811M | $1.5B | $1.6B |
| Shareholders' equity | $2.2B | $2.4B | $4.1B | $4.1B | $4.6B |
| Net debt / EBITDA | — | −23.5x | −5.9x | −5.1x | −4.8x |
| Current ratio | 1.2x | 1.2x | 1.1x | 1.2x | 1.0x |
| Interest coverage | −33.2x | −4.2x | 9.9x | 3.1x | 5.5x |
| Returns and quality | |||||
| Return on equity | — | −4.0% | 41.8% | 3.8% | 4.8% |
| Piotroski F-score | — | 4 | 7 | 5 | 6 |
| Altman Z'' | −2.3 | −1.2 | 0.1 | 0.2 | −0.1 |
Insiders bought, 12 months
$137M
1 insider
Insiders sold, 12 months
$5.9M
4 insiders
Of sales under plans
40%
$2.4M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Coupang · CPNG
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Coupang CPNG | $24.7B | 14.1% | 1.4% | 1.5% | — | — | 6 |
| MercadoLibre MELI | $84.6B | 39.1% | 11.1% | 37.3% | 35.0% | 45.4x | 4 |
| Sea Limited SE | $47.2B | 36.4% | 8.7% | 19.7% | — | — | 8 |
| Macy's M | $6.4B | −1.7% | 4.6% | 4.7% | 12.9% | 8.6x | 8 |
| Kohl's KSS | $2.8B | −4.3% | 4.0% | 6.5% | 7.2% | 10.3x | 7 |
KIRA
At $13.75 a share, the company is worth $24.7B.
Coupang grew sales faster than 2 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001834584). Data updated October 10, 2026. For information only — not investment advice. Check the original filings before relying on any figure.