Coupang, Inc.
CPNG· NYSE· Retail-Catalog & Mail-Order Houses
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 1.5%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +23.6%
We record prices for the companies we cover; CPNG is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 1.85B
- Revenue
- $34.5B
- Free cash flow
- $522.0M
- Owner earnings
- $47.0M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 29.4%
- Operating
- 1.4%
- Net
- 0.6%
- Free cash flow
- 1.5%
- Owner earnings
- 0.1%
- Stock pay
- 1.4%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 4.5%
- ROE, 5 yr avg
- -6.6%
Growth (CAGR)
- Revenue, 3 yr
- 18.8%
- Revenue, 5 yr
- 23.6%
- Revenue, 6 yr
- 32.9%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 6 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 6 yr
- –
Financial health · FY2025
- Cash and investments
- $6.3B
- Total debt
- $1.6B
- Net cash
- $4.7B
- Debt/Equity
- 0.3x
- Debt/FCF
- 3.1x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 129.7%
Financials: ten years from the 10-Ks
Revenue
$34.5B
+32.9% a year over 6 years
FY2019FY2025
Margins
Gross29.4%Operating1.4%Net0.6%
FY2025
FY2019FY2025
Free cash flow and owner earnings
Free cash flow$522.0MOwner earnings$47.0M
FY2025
FY2019FY2025
Diluted shares
1.85B
+9430.9% over 6 years, net dilution
FY2019FY2025
Net cash
$4.7B
$4.7B more cash than debt
FY2019FY2025
Every figure, year by year
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| The business | |||||||
| Revenue | $6.3B | $12.0B | $18.4B | $20.6B | $24.4B | $30.3B | $34.5B |
| Revenue growth | – | 90.8% | 53.8% | 11.8% | 18.5% | 24.1% | 14.1% |
| Gross margin | – | – | – | 22.9% | 25.4% | 29.2% | 29.4% |
| Operating margin | -10.2% | -4.3% | -8.1% | -0.5% | 1.9% | 1.4% | 1.4% |
| Net income | -$696.9M | -$463.2M | -$1.5B | -$92.0M | $1.4B | $154.0M | $208.0M |
| Net margin | -11.1% | -3.9% | -8.4% | -0.4% | 5.6% | 0.5% | 0.6% |
| Diluted EPS | $-39.48 | $-19.16 | $-1.08 | $-0.05 | $0.75 | $0.08 | $0.11 |
| Return on invested capital? | – | – | – | – | – | – | – |
| Cash | |||||||
| Operating cash flow | -$311.8M | $301.6M | -$411.0M | $565.0M | $2.7B | $1.9B | $1.8B |
| Capital expenditure | $217.8M | $484.6M | $674.0M | $824.0M | $896.0M | $879.0M | $1.3B |
| Free cash flow | -$529.7M | -$183.1M | -$1.1B | -$259.0M | $1.8B | $1.0B | $522.0M |
| Stock-based compensation | $20.8M | $31.3M | $249.0M | $262.0M | $326.0M | $433.0M | $475.0M |
| Owner earnings? | -$550.5M | -$214.4M | -$1.3B | -$521.0M | $1.4B | $574.0M | $47.0M |
| Free cash flow per share | $-27.21 | $-6.31 | $-0.76 | $-0.15 | $0.97 | $0.55 | $0.28 |
| Capital allocation | |||||||
| Dividends paid | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | $0 | $0 | $178.0M | $243.0M |
| Diluted shares | 19.5M | 29.0M | 1.42B | 1.76B | 1.80B | 1.83B | 1.85B |
| Share count change? | – | 49.1% | 4808.3% | 23.9% | 2.2% | 1.3% | 1.6% |
| Balance sheet | |||||||
| Cash and equivalents | $1.4B | $1.3B | $3.5B | $3.5B | $5.2B | $5.9B | $6.3B |
| Short-term investments | – | – | – | – | – | – | – |
| Total debt | – | $510.0M | $291.0M | $713.0M | $811.0M | $1.5B | $1.6B |
| Net debt | – | -$741.4M | -$3.2B | -$2.8B | -$4.4B | -$4.4B | -$4.7B |
| Shareholders' equity | -$3.5B | -$4.1B | $2.2B | $2.4B | $4.1B | $4.1B | $4.6B |
Latest filings
| 2026-08-04 | 10-Q | Quarterly report |
| 2026-08-04 | 8-K | Earnings release |
| 2026-05-05 | 10-Q | Quarterly report |
| 2026-05-05 | 8-K | Earnings release |
| 2026-04-27 | DEF 14A | Proxy statement |
| 2026-02-26 | 10-K | Annual report |
| 2026-02-26 | 8-K | Earnings release |
| 2025-11-04 | 10-Q | Quarterly report |
| 2025-11-04 | 8-K | Earnings release |
| 2025-08-05 | 10-Q | Quarterly report |
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