Coupang, Inc. CPNG

Consumer discretionary SIC 5961 - Retail-Catalog & Mail-Order Houses NAICS Retail Trade derived NYSE

Coupang is a technology and Fortune 150 company listed on the New York Stock Exchange that provides retail, restaurant delivery, video streaming, and fintech services to customers under brands that include Coupang, Eats, Play, Rocket Now, and Farfetch. We serve millions of customers in over 190 countries and territories around the world.

We have organized our operations into two segments: Product Commerce and Developing Offerings. These segments reflect the way we evaluate our business performance and manage operations. Information on our segments is included in Part II, Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations — Overview — Segment Information." Financial information for our segments is included in Note 3 — "Segment Reporting" to the consolidated financial statements included in Part II, Item 8 of this Form 10-K.

Last close 13.90 2026-10-23
Market cap $25.01B estimated share count
52-week range 13.35 - 32.35

Valuation FY2025 figures against the last close

P/S0.7x
P/E126.4x
P/FCF47.9x
EV/EBITDA19.5x
Dividend yield—
Diluted EPS0.11

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $34.53B$30.27B$24.38B$20.58B$18.41B$11.97B$6.27B—
Cost of revenue $24.39B$21.44B$18.19B$15.87B$15.46B$9.98B$5.24B—
Gross profit $10.14B$8.83B$6.19B$4.71B$2.95B$1.99B$1.03B—
SG&A $9.67B$8.39B$5.72B$4.82B$4.45B$2.50B$1.68B—
Total operating expenses $34.06B$29.83B$23.91B$20.70B$19.90B$12.48B$6.92B—
Operating income $473.0M$436.0M$473.0M-$112.0M-$1.49B-$516.0M-$641.9M—
Interest expense $86.0M$140.0M$48.0M$27.0M$45.0M$107.8M$96.9M—
Pre-tax income $597.0M$473.0M$584.0M-$93.0M-$1.54B-$462.9M-$697.1M—
Income tax $383.0M$407.0M$776.0M$1.0M$1.0M$292.0K$241.0K—
Net income $214.0M$66.0M$1.36B-$92.0M-$1.54B-$463.2M-$696.9M—
EPS, basic 0.110.090.76-0.05-1.08-19.16-39.48—
EPS, diluted 0.110.080.75-0.05-1.08-19.16-39.48—
Shares, diluted (wtd. avg.) 1.85B1.83B1.80B1.76B1.42B29.0M19.5M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $6.32B$5.88B$5.24B$3.69B$3.81B$1.40B$1.37B$739.9M
Receivables $363.0M$407.0M$314.0M$64.0M$90.0M$12.0M——
Inventory $2.26B$2.10B$1.67B$1.66B$1.42B$1.16B——
Total current assets $9.69B$8.99B$7.89B$5.83B$5.64B$2.84B——
Property, plant and equipment $3.72B$2.81B$2.46B$1.82B————
Goodwill ————$9.7M$4.2M——
Other intangibles $190.0M$271.0M$37.0M—————
Total assets $17.79B$15.34B$13.35B$9.51B$8.64B$5.07B——
Accounts payable $6.30B$5.55B$5.10B$3.62B$3.44B$2.91B——
Short-term debt $0$66.0M$203.0M$129.0M$341.7M$67.6M——
Total current liabilities $9.36B$7.72B$6.95B$5.06B$4.74B$3.73B——
Long-term debt $648.0M$988.0M$529.0M$538.0M$283.2M$353.3M——
Total liabilities $13.16B$11.17B$9.24B$7.10B$6.47B$5.67B——
Retained earnings -$4.02B-$4.23B-$4.38B-$5.74B-$5.65B-$4.11B——
Total equity $4.62B$4.10B$4.09B$2.41B$2.18B-$4.07B-$3.53B-$2.77B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $1.77B$1.89B$2.65B$565.0M-$411.0M$301.6M-$311.8M—
Depreciation and amortisation $517.0M$433.0M$275.0M$231.0M$201.0M$127.5M$70.9M—
Stock-based compensation $475.0M$433.0M$326.0M$262.0M$249.0M$31.3M$20.8M—
Capital expenditure $1.25B$879.0M$896.0M$824.0M$674.0M$484.6M$217.8M—
Investing cash flow -$1.25B-$819.0M-$927.0M-$848.0M-$676.0M-$520.7M-$218.2M—
Financing cash flow -$247.0M-$69.0M$199.0M$247.0M$3.58B$178.5M$1.18B—
Buybacks $243.0M$178.0M$0$0————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-017102.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -10B 0 10B 20B 30B 40B Revenue, FY2019: 6.3B Gross profit, FY2019: 1B Net income, FY2019: -696.9M Revenue, FY2020: 12B Gross profit, FY2020: 2B Net income, FY2020: -463.2M Revenue, FY2021: 18.4B Gross profit, FY2021: 3B Net income, FY2021: -1.5B Revenue, FY2022: 20.6B Gross profit, FY2022: 4.7B Net income, FY2022: -92M Revenue, FY2023: 24.4B Gross profit, FY2023: 6.2B Net income, FY2023: 1.4B Revenue, FY2024: 30.3B Gross profit, FY2024: 8.8B Net income, FY2024: 66M Revenue, FY2025: 34.5B Gross profit, FY2025: 10.1B Net income, FY2025: 214M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $6.27B $11.97B $18.41B $20.58B $24.38B $30.27B $34.53B
Gross profit — $1.03B $1.99B $2.95B $4.71B $6.19B $8.83B $10.14B
Net income — -$696.9M -$463.2M -$1.54B -$92.0M $1.36B $66.0M $214.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Cybersecurity incident A cybersecurity incident the company has determined to be material. Required since December 2023. Item 1.05
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Cybersecurity incident Item 1.05
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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