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Stock research / United States / CPNG · Retail-Catalog & Mail-Order Houses · NYSE

Coupang, Inc. (CPNG)

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Coupang, Inc. (CPNG) reported revenue of $8.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 3.9% on the same quarter a year earlier. Net income was -$570 million, and diluted earnings per share $-0.32. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$8.9 billionup 3.9%
Net income-$570 million
Diluted EPS$-0.32
QuarterQ2 FY2026ended 30 June 2026

Coupang (CPNG) in brief

Coupang (CPNG) reported revenue of $34.5 billion for fiscal 2025, the year ended 31 December 2025, up 14.1% on the year before.
Read moreNet income was $208 million and diluted earnings per share $0.11. Revenue was $30.3 billion in fiscal 2024, $24.4 billion in fiscal 2023, $20.6 billion in fiscal 2022 and $18.4 billion in fiscal 2021. Net income in the same years was $154 million, $1.4 billion, a loss of $92 million and a loss of $1.5 billion. Over the twelve months to 30 June 2026, Coupang reported revenue of $35.5 billion and net loss of $767 million. Revenue grew 23.6% a year, compounded, over the five years to fiscal 2025. At 30 June 2026 it carried $2.6 billion of debt and $6.1 billion of cash. At the close of 27 October 2026 the market cap of Coupang was $25.0 billion.

Ratios

From the filings

ROE-25.7%
ROCE-11.2%
Operating margin-1.8%
Net margin-2.2%
FCF margin0.3%
Interest cover-8.26
Debt to equity0.87
Cash conversionn/a
Share count, last 12 months-1.0%
Sales CAGR, 3 years18.8%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.43

At the close of 27 October 2026

Price$13.91
Market cap$25.0 billion
Stock P/En/a
Price to book8.38
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales0.71
52-week high$32.13
52-week low$13.75
Price, 1 year-56.2%
Price CAGR, 3 years-6.5%
Price CAGR, 5 years-14.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Coupang, Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
CPNGgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CPNG

Dividendsno dividend in its filings for fiscal 2019 onward
Filings19 in twelve months: 10 current reports (8-K), about 4 results of operations; 2 officer or director change; 2 material cybersecurity incident; 1 shareholder vote; 1 other events
Planned insider sales9 Form 144 notices in twelve months, $13.9 million; latest 2 October 2026
Options tapeput/call 0.31 by open interest at the 27 October 2026 close; the straddle prices a 4.5% move to 30 October 2026
13F holders591 funds reported a position for the quarter to 30 June 2026; largest SB Investment Advisers (uk) Ltd
Insider trading6 sales and 3 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest82.7 million shares short, 4.43 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023 †Q2 FY2023 †Q3 FY2023 †Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue4,6455,0775,1175,0385,1015,3275,8015,8386,1846,5617,1147,3237,8667,9657,9088,5249,2678,8358,5048,856
Cost of revenue3,8904,2714,0733,8843,8674,0484,3814,3144,6184,8815,1855,1815,5975,4745,5925,9636,5476,2916,2076,362
Gross profit7558061,0431,1541,2341,2791,4201,5241,5661,6801,9292,1422,2692,4912,3162,5612,7202,5442,2972,494
Gross margin16%16%20%23%24%24%24%26%25%26%27%29%29%31%29%30%29%29%27%28%
Operating income-315-397-206-67.177.483.410714888.013140.0-25.01093121541491628.0-242-556
Operating margin-7%-8%-4%-1%2%2%2%3%1%2%1%-0%1%4%2%2%2%0%-3%-6%
Interest expense7.47.37.46.16.57.28.012.813.313.627.037.036.040.023.025.022.016.013.025.0
Pre-tax income-324-404-209-75.297.693.512417111717259.03.013227921619416522.0-255-533
Tax raten/an/an/an/a7%-9%27%15%22%-499%141%3600%52%53%47%84%42%218%n/an/a
Net income-324-405-209-75.590.710290.914591.01,0335.0-77.070.015610732.095.0-26.0-266-570
Net margin-7%-8%-4%-1%2%2%2%2%1%16%0%-1%1%2%1%0%1%-0%-3%-6%
Diluted EPS-$0.19$0.09-$0.12-$0.04$0.05$0.06$0.05$0.08$0.05$0.57$0.00-$0.04$0.04$0.08$0.06$0.02$0.05-$0.01-$0.15-$0.32
Operating cash flow-55.4-203-54.9-18.358.258050182072260921266433467635454579282.0184367
Capital expenditure19016823918128312195.0376191234107178380214239299353360296317
Free cash flow-245-371-294-199-225459406443531376105486-46.0462115246439-278-11250.0
Buybacksn/an/an/an/an/an/an/an/a0.0n/an/an/a0.0n/a0.00.081.0162391459
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 7 fiscal years and the trailing twelve months

FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Revenue6,27311,96718,40620,58324,38330,26834,53435,462
Cost of revenue5,2409,98115,45515,87318,19321,43724,39325,407
Gross profit1,0331,9862,9514,7106,1908,83110,14110,055
Gross margin16.5%16.6%16.0%22.9%25.4%29.2%29.4%28.4%
Operating income-642-516-1,494-112473436473-628
Operating margin-10.2%-4.3%-8.1%-0.5%1.9%1.4%1.4%-1.8%
Interest expense96.910845.027.048.014086.076.0
Pre-tax income-697-463-1,542-93.1584473597-601
Income tax-0.20.31.0-1.0-776407383166
Effective tax raten/an/an/an/a-132.9%86.0%64.2%n/a
Net income-697-463-1,543-92.01,360154208-767
Net margin-11.1%-3.9%-8.4%-0.4%5.6%0.5%0.6%-2.2%
Diluted EPS-$39.48-$19.16-$1.08-$0.05$0.75$0.08$0.11-$0.43
Filing10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Product Commerce23,59426,69929,59285.7%
Developing Offerings7893,5694,94214.3%
Product CommerceDeveloping Offerings
24.4FY202330.3FY202434.5FY2025

$ billion; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow-312302-4115652,6521,8861,7731,425
Capital expenditure2184856748248968791,2511,326
Free cash flow-530-183-1,084-2591,7561,00752299.0
Free cash flow margin-8.4%-1.5%-5.9%-1.3%7.2%3.3%1.5%0.3%
Cash from investing-218-521-676-848-927-819-1,254-1,370
Cash from financing1,1841793,577247199-69.0-247-141
Depreciation and amortisation70.9128201231275433517557
Share-based compensation20.831.3249262326433475524
Buybacksn/an/an/a0.00.01782431,093
Diluted shares, weighted19m29m1,424m1,765m1,803m1,826m1,855m1,799m
Filing10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity-3,533-4,0692,1762,4144,0894,1024,6232,987
Non-controlling interestn/an/a0.00.10.0n/an/an/a
Redeemable equityn/a3,4660.00.015.075.00.0n/a
Debtn/a1,1676338421,0141,5331,6082,603
Operating lease liabilitiesn/a8591,2011,2341,3871,7702,4822,470
Other liabilitiesn/a3,6444,6325,0236,8417,8649,0749,334
Total liabilities and equityn/a5,0678,6429,51313,34615,34417,78717,394
Owned
Fixed assetsn/a1,0181,3481,8202,4652,8133,7223,753
Goodwilln/a4.29.7n/an/an/an/an/a
Intangible assetsn/an/an/an/a37.0271190167
Cash and equivalents1,3721,2513,4883,5095,2435,8796,3186,110
Receivablesn/a12.090.064.0314407363363
Inventoryn/a1,1611,4221,6571,6662,0992,2562,067
Other assetsn/a1,6202,2852,4633,6213,8754,9384,934
Total assetsn/a5,0678,6429,51313,34615,34417,78717,394
Filing10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a23.6%18.8%9.9%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a-6.6%13.8%4.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Coupang's revenue in fiscal 2025?

Coupang (CPNG) reported revenue of $34.5 billion for fiscal 2025, the year ended 31 December 2025, up 14.1% on the year before.

How much did Coupang earn in fiscal 2025?

Net income was $208 million for fiscal 2025, and diluted earnings per share $0.11.

What is Coupang's market cap?

The market cap of Coupang was $25.0 billion at the close of 27 October 2026.

How much debt does Coupang have?

At 30 June 2026 Coupang carried $2.6 billion of debt and $6.1 billion of cash.

Peers: Retail

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Amazon.com Inc. AMZN$2.73 trillion20.3724.5%12.1%15.8%0.24n/a
Williams Sonoma Inc. WSM$29.5 billion25.6355.1%19.2%2.2%0.001.1%
Dollar General Corp. DG$28.0 billion16.4918.3%5.6%4.8%0.491.9%
Ulta Beauty, Inc. ULTA$26.8 billion22.8445.8%12.5%11.2%0.130.0%
Copart Inc. CPRT$26.8 billion18.6516.3%35.4%0.4%0.00n/a
Casey's General Stores, Inc. CASY$25.8 billion33.6118.9%8.3%13.8%0.590.2%
Coupang, Inc. CPNG$25.0 billionn/a-25.7%-1.8%9.9%0.87n/a
Dollar Tree, Inc. DLTR$23.2 billion15.1047.1%11.0%8.2%0.86n/a
CDW Corp. CDW$20.2 billion19.4144.2%7.1%7.4%2.381.6%
Wayfair Inc. W$14.9 billionn/an/a1.7%7.5%n/an/a
Chewy, Inc. CHWY$8.8 billion32.6073.9%2.5%5.9%1.60n/a
Insight Enterprises Inc. NSIT$5.3 billion26.1013.1%4.6%2.7%0.92n/a
All 71 in Retail
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Amazon.com Inc. AMZN$2.73 trillion20.3724.5%12.1%15.8%0.24n/a
Walmart Inc. WMT$946.4 billion43.0622.5%4.4%6.2%0.510.8%
Costco Wholesale Corp. COST$439.7 billion47.7925.8%3.9%10.1%0.170.6%
Home Depot, Inc. HD$317.9 billion22.2985.6%12.4%2.5%3.182.9%
TJX Companies Inc. TJX$154.4 billion25.9257.0%n/a7.7%0.271.3%
CVS Health Corp. CVS$116.4 billion24.106.1%2.0%7.4%0.772.9%
Lowe's Companies Inc. LOW$111.2 billion16.75n/a11.4%8.2%n/a2.4%
Sherwin Williams Co. SHW$78.7 billion29.9567.3%n/a7.0%2.971.0%
ROSS Stores, Inc. ROST$73.5 billion27.8539.4%13.7%14.0%0.150.7%
O'Reilly Automotive, Inc. ORLY$73.3 billion28.61n/a19.6%8.5%n/an/a
Target Corp. TGT$67.2 billion15.3724.6%5.6%2.0%0.863.1%
Fastenal Co. FAST$59.1 billion41.5834.2%20.5%13.5%0.021.9%
Autozone Inc. AZO$50.8 billion20.58n/a18.3%7.4%n/an/a
Carvana Co. CVNA$43.8 billion34.2838.9%8.9%54.0%1.30n/a
Kroger Co. KR$38.9 billion35.8018.6%1.4%1.6%2.912.2%
JD.com, Inc. JD *$35.1 billion13.228.7%0.2%13.0%0.334.1%
Williams Sonoma Inc. WSM$29.5 billion25.6355.1%19.2%2.2%0.001.1%
Dollar General Corp. DG$28.0 billion16.4918.3%5.6%4.8%0.491.9%
Ulta Beauty, Inc. ULTA$26.8 billion22.8445.8%12.5%11.2%0.130.0%
Copart Inc. CPRT$26.8 billion18.6516.3%35.4%0.4%0.00n/a
Casey's General Stores, Inc. CASY$25.8 billion33.6118.9%8.3%13.8%0.590.2%
Coupang, Inc. CPNG$25.0 billionn/a-25.7%-1.8%9.9%0.87n/a
Dollar Tree, Inc. DLTR$23.2 billion15.1047.1%11.0%8.2%0.86n/a
Best Buy Co., Inc. BBY$20.7 billion16.3940.0%4.1%1.4%0.373.9%
CDW Corp. CDW$20.2 billion19.4144.2%7.1%7.4%2.381.6%
Tractor Supply Co. TSCO$16.8 billion16.7938.5%8.5%4.0%0.822.9%
Wayfair Inc. W$14.9 billionn/an/a1.7%7.5%n/an/a
Burlington Stores, Inc. BURL$14.8 billion21.1135.7%7.7%10.9%0.962.5%
Penske Automotive Group, Inc. PAG$13.9 billion15.6315.6%n/a0.6%0.892.6%
BJ's Wholesale Club Holdings, Inc. BJ$13.3 billion23.0027.1%3.8%9.1%0.29n/a
Dick's Sporting Goods, Inc. DKS$12.8 billion15.2114.7%5.5%53.5%0.333.5%
Five Below, Inc. FIVE$12.7 billion20.7625.0%14.7%25.6%0.000.0%
GameStop Corp. GME$10.5 billion15.3614.5%13.5%-7.7%0.680.4%
Murphy USA Inc. MUSA$9.8 billion16.1378.9%4.3%10.3%2.790.5%
Chewy, Inc. CHWY$8.8 billion32.6073.9%2.5%5.9%1.60n/a
FirstCash Holdings, Inc. FCFS$7.9 billion20.0817.9%12.9%22.9%1.080.9%
Urban Outfitters Inc. URBN$7.8 billion14.1819.9%11.3%11.0%0.00n/a
Carmax Inc. KMX$7.7 billion26.304.6%n/a4.8%2.76n/a
Gap Inc. GAP$7.6 billion6.4831.6%11.0%1.1%0.383.1%
Victoria's Secret & Co. VSXY$7.4 billion20.8938.2%7.9%10.3%0.98n/a
Abercrombie & Fitch Co. ANF$7.0 billion14.1639.6%13.7%4.7%0.000.0%
Albertsons Companies, Inc. ACI$6.4 billionn/a-3.6%0.5%2.3%6.514.4%
Lithia Motors Inc. LAD$6.4 billion9.6411.2%4.1%2.1%1.800.8%
Macy's, Inc. M$6.2 billion8.7415.2%5.0%0.3%0.493.1%
Builders FirstSource, Inc. BLDR$6.1 billion62.352.6%3.0%-9.4%1.14n/a
Sprouts Farmers Market, Inc. SFM$6.0 billion12.3433.5%7.4%7.2%0.07n/a
Autonation, Inc. AN$5.5 billion7.6334.3%4.8%-0.1%3.03n/a
Insight Enterprises Inc. NSIT$5.3 billion26.1013.1%4.6%2.7%0.92n/a
Floor & Decor Holdings, Inc. FND$5.2 billion22.509.3%6.4%2.4%0.08n/a
Pricesmart Inc. PSMT$5.1 billion30.8311.4%4.4%11.5%0.120.8%
Ollie's Bargain Outlet Holdings, Inc. OLLI$5.0 billion18.9114.4%12.3%14.4%0.001.2%
Openlane, Inc. OPLN$4.7 billionn/a12.8%11.5%11.8%1.540.0%
Signet Jewelers Ltd. SIG$4.5 billion13.2919.3%6.8%0.6%0.001.2%
Bath & Body Works, Inc. BBWI$4.4 billion5.71n/a16.7%-2.2%n/a3.6%
Academy Sports & Outdoors, Inc. ASO$3.7 billion9.8918.2%9.6%3.7%0.230.9%
Rush Enterprises Inc. \Tx\ RUSHA$3.6 billion13.6911.4%5.1%-5.9%0.531.7%
Asbury Automotive Group Inc. ABG$3.5 billion7.2913.0%4.4%4.1%0.88n/a
Boot Barn Holdings, Inc. BOOT$3.4 billion14.1317.9%13.6%17.6%0.00n/a
American Eagle Outfitters Inc. AEO$3.3 billion9.9219.1%7.8%9.2%0.032.6%
Group 1 Automotive Inc. GPI$3.0 billion10.599.8%3.1%0.8%1.880.8%
Advance Auto Parts Inc. AAP$2.7 billion33.443.7%2.7%-1.3%1.502.2%
Kohl's Corp. KSS$2.7 billion10.386.5%3.8%-2.9%0.322.1%
RH RH$2.7 billion25.0492.7%10.0%3.3%19.69n/a
Ezcorp Inc. EZPW$2.5 billion14.9313.6%13.9%28.6%0.45n/a
Buckle Inc. BKE$2.4 billion10.6945.2%20.8%6.2%0.009.5%
Sonic Automotive Inc. SAH$2.0 billion10.1620.7%3.3%5.3%1.710.4%
Weis Markets Inc. WMK$1.9 billionn/an/an/a4.7%0.001.8%
Sally Beauty Holdings, Inc. SBH$1.6 billion8.9522.1%8.4%1.1%0.94n/a
Grocery Outlet Holding Corp. GO$1.3 billionn/a-46.7%-7.9%5.1%0.62n/a
Marinemax Inc. HZO$1.2 billion374.930.4%3.0%-5.4%1.02n/a
Winmark Corp. WINA$1.0 billion25.14n/a59.7%8.6%n/a1.1%
5 companies share its SEC industry code (Retail-Catalog & Mail-Order Houses); the rest are the names nearest in size in its wider industry, Retail, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR
10-Q31 March 20248 May 2024EDGAR