A Business at a Glance
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Coupang, Inc.
CPNG
$29.3B
Mkt Cap
$15.50
-0.83%
Coupang, Inc. (CPNG) has a current P/E ratio of 140.9, compared to its historical median P/E of 21.8. The stock is currently considered Expensive based on its historical valuation range.
Coupang, Inc. (CPNG) has a 5-year average return on invested capital (ROIC) of 11.7%. This indicates solid capital allocation.
Coupang, Inc. (CPNG) has a market capitalization of $28.3B. It is classified as a large-cap stock.
Coupang, Inc. (CPNG) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.24%.
Based on historical P/E analysis, Coupang, Inc. (CPNG) appears expensive. The current P/E of 140.9 is 546% above its historical median of 21.8. The estimated fair value CAGR (P/E method) is 30.9%.
Coupang, Inc. (CPNG) operates in the Retail-Catalog & Mail-Order Houses industry, within the Consumer Cyclical sector.
Coupang, Inc. (CPNG) reported annual revenue of $34.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
The Company 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 35.1B | 34.5B | 30.3B | 24.4B | 20.6B | 18.4B |
| Net Income | -165M | 208M | 154M | 1.4B | -92M | -1.5B |
| EPS | $-0.09 | $0.11 | $0.08 | $0.75 | $-0.05 | $-1.08 |
| Free Cash Flow | 295M | 522M | 1.0B | 1.8B | -259M | -1.1B |
| ROIC | -0.6% | 5.7% | 6.1% | 67.5% | -3.4% | -17.3% |
| Gross Margin | 28.8% | 29.4% | 29.2% | 25.4% | 22.9% | 16.0% |
| Debt/Equity | 0.58 | 1.00 | 0.91 | 0.68 | 1.00 | 0.97 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 77M | 473M | 436M | 473M | -112M | -1.5B |
| Operating Margin | 0.2% | 1.4% | 1.4% | 1.9% | -0.5% | -8.1% |
| ROE | -4.2% | 4.8% | 3.8% | 41.8% | -4.0% | 163.0% |
| Shares Outstanding | 1,825M | 1,891M | 1,925M | 1,813M | 1,841M | 1,428M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 6.3B | 12.0B | 18.4B | 20.6B | 24.4B | 30.3B | 34.5B | 35.1B |
| Gross Margin | 16.5% | 16.6% | 16.0% | 22.9% | 25.4% | 29.2% | 29.4% | 28.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.7B | 2.5B | 4.4B | 4.8B | 5.7B | 8.4B | 9.7B | 10.0B |
| EBIT | -642M | -516M | -1.5B | -112M | 473M | 436M | 473M | 77M |
| Op. Margin | -10.2% | -4.3% | -8.1% | -0.5% | 1.9% | 1.4% | 1.4% | 0.2% |
| Net Income | -768M | -556M | -1.5B | -92M | 1.4B | 154M | 208M | -165M |
| Net Margin | -12.2% | -4.6% | -8.4% | -0.4% | 5.6% | 0.5% | 0.6% | -0.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | N/A | -10.2% | -17.3% | -3.4% | 67.5% | 6.1% | 5.7% | -0.6% |
| ROE | 24.4% | 14.6% | 163.0% | -4.0% | 41.8% | 3.8% | 4.8% | -4.2% |
| ROA | N/A | -21.8% | -22.5% | -1.0% | 11.9% | 1.1% | 1.3% | -0.9% |
| Cash Flow | ||||||||
| Op. Cash Flow | -312M | 302M | -411M | 565M | 2.7B | 1.9B | 1.8B | 1.6B |
| Free Cash Flow | -530M | -183M | -1.1B | -259M | 1.8B | 1.0B | 522M | 295M |
| Owner Earnings | -404M | 143M | -861M | 72M | 2.1B | 1.0B | 781M | 589M |
| CapEx | 218M | 485M | 674M | 824M | 896M | 879M | 1.3B | 1.3B |
| Maint. CapEx | 71M | 128M | 201M | 231M | 275M | 433M | 517M | 538M |
| Growth CapEx | 147M | 357M | 473M | 593M | 621M | 446M | 734M | 770M |
| D&A | 71M | 128M | 201M | 231M | 275M | 433M | 517M | 538M |
| CapEx/OCF | N/A | N/A | N/A | 145.8% | 33.8% | 46.6% | 70.6% | 81.6% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 115M | 97M | 0 | 0 | 0 | 178M | 243M | 634M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.4% | 0.5% | 2.2% |
| Stock-Based Comp | 21M | 31M | 249M | 262M | 326M | 433M | 475M | 476M |
| Debt Repayment | 1.9M | 35M | 170M | 446M | 392M | 794M | 2.9B | 2.9B |
| Balance Sheet | ||||||||
| Net Debt | -1.2B | 393M | -1.4B | -1.1B | -2.5B | -2.2B | -1.7B | -4.0B |
| Cash & Equiv. | 1.4B | 1.3B | 3.5B | 3.5B | 5.2B | 5.9B | 6.3B | 6.3B |
| Long-Term Debt | 29M | 353M | 283M | 538M | 529M | 988M | 648M | 617M |
| Debt/Equity | -0.04 | -0.40 | 0.97 | 1.00 | 0.68 | 0.91 | 1.00 | 0.58 |
| Interest Coverage | -6.6 | -4.8 | -33.2 | -4.1 | 9.9 | 3.1 | 5.5 | 1.0 |
| Equity | -3.5B | -4.1B | 2.2B | 2.4B | 4.1B | 4.1B | 4.6B | 3.9B |
| Total Assets | N/A | 5.1B | 8.6B | 9.5B | 13.3B | 15.3B | 17.8B | 17.4B |
| Total Liabilities | 18M | 9.1B | 6.5B | 7.1B | 9.2B | 11.2B | 13.2B | 13.5B |
| Intangibles | N/A | N/A | N/A | N/A | 37M | 271M | 190M | 178M |
| Retained Earnings | N/A | -4.1B | -5.7B | -5.7B | -4.4B | -4.2B | -4.0B | -4.3B |
| Working Capital | N/A | -892M | 893M | 767M | 947M | 1.3B | 334M | -260M |
| Current Assets | N/A | 2.8B | 5.6B | 5.8B | 7.9B | 9.0B | 9.7B | 9.4B |
| Current Liabilities | N/A | 3.7B | 4.7B | 5.1B | 6.9B | 7.7B | 9.4B | 9.6B |
| Per Share Data | ||||||||
| EPS | -39.48 | -19.16 | -1.08 | -0.05 | 0.75 | 0.08 | 0.11 | -0.09 |
| Owner EPS | -20.74 | 4.92 | -0.60 | 0.04 | 1.13 | 0.53 | 0.41 | 0.32 |
| Book Value | -181.54 | -140.25 | 1.52 | 1.31 | 2.25 | 2.13 | 2.44 | 2.15 |
| Cash Flow/Share | -16.02 | 10.39 | -0.29 | 0.31 | 1.46 | 0.98 | 0.94 | 0.20 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 19.5M | 29.0M | 1.4B | 1.8B | 1.8B | 1.9B | 1.9B | 1.8B |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 21.8 | 281.5 | 220.6 | -170.0 |
| P/FCF | N/A | N/A | N/A | N/A | 16.9 | 43.0 | 87.9 | 95.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | 42.7 | 76.0 | 73.7 | 315.3 |
| Price/Book | N/A | N/A | 19.4 | 11.1 | 7.3 | 10.6 | 9.9 | 7.2 |
| Price/Sales | N/A | N/A | 2.8 | 1.6 | 1.2 | 1.4 | 1.5 | 0.8 |
| FCF Yield | N/A | N/A | -2.6% | -1.0% | 5.9% | 2.3% | 1.1% | 1.0% |
| Market Cap | 0 | N/A | 42.2B | 26.9B | 29.7B | 43.4B | 45.9B | 28.3B |
| Avg. Price | 0.00 | N/A | 35.47 | 17.69 | 16.55 | 21.24 | 26.95 | 15.50 |
| Year-End Price | 0.00 | N/A | 29.52 | 14.60 | 16.37 | 22.52 | 24.27 | 15.50 |
Coupang, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Coupang, Inc. trades at 140.9x trailing earnings, compared to its 15-year median P/E of 21.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 49.6x vs a median of 43.0x. The company's 5-year average ROIC is 11.7% with a gross margin of 24.6%. Total shareholder yield (buybacks) is 2.2%. At current prices, the estimated annualized return to fair value is +17.0%.
Coupang, Inc. (CPNG) has a net profit margin of 0.6%. This is a modest margin.
Coupang, Inc. (CPNG) generated $522 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Coupang, Inc. (CPNG) has a debt-to-equity ratio of 1.00. This indicates moderate leverage.
Coupang, Inc. (CPNG) reported earnings per share (EPS) of $0.11 in its most recent fiscal year.
Coupang, Inc. (CPNG) has a return on equity (ROE) of 4.8%. This indicates moderate shareholder returns.
Coupang, Inc. (CPNG) has a 5-year average gross margin of 24.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 7 years of financial data for Coupang, Inc. (CPNG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Coupang, Inc. (CPNG) has a book value per share of $2.44, based on its most recent annual SEC filing.