Coupang, Inc.
Coupang, Inc.
Coupang, Inc. (CPNG) — SEC Financial Statements & Analysis
Coupang, Inc. (CPNG) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash And Cash Equivalents At Carrying Value | 6,301 | 6,318 | 7,229 | 6,796 | 6,113 | 5,879 | 5,822 | 5,536 | 5,226 | 5,243 | 4,858 | 4,473 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 90 | 94 | 95 | 93 | 86 | 151 | 139 | 257 | 347 | 353 | 400 | 269 | |||||
Accounts Receivable Net Current | 351 | 363 | 393 | 499 | 484 | 407 | 517 | 547 | 601 | 314 | 285 | 139 | |||||
Inventory Net | 2,037 | 2,256 | 2,487 | 2,285 | 2,049 | 2,099 | 2,181 | 1,992 | 1,938 | 1,666 | 1,641 | 1,565 | |||||
Prepaid Expense And Other Assets Current | 584 | 660 | 602 | 503 | 474 | 458 | 553 | 477 | 457 | 316 | 246 | 270 | |||||
Assets Current | 9,363 | 9,691 | 10,806 | 10,176 | 9,206 | 8,994 | 9,212 | 8,809 | 8,569 | 7,892 | 7,430 | 6,717 | |||||
Restricted Cash And Cash Equivalents Noncurrent | - | - | - | - | - | - | - | - | - | - | 2 | 2 | |||||
Property Plant And Equipment Net | 3,632 | 3,722 | 3,506 | 3,424 | 2,953 | 2,813 | 2,997 | 2,563 | 2,509 | 2,465 | 2,201 | 2,119 | |||||
Operating Lease Right Of Use Asset | 2,844 | 2,765 | 2,717 | 2,540 | 2,317 | 2,016 | 2,240 | 1,993 | 1,912 | 1,601 | 1,484 | 1,427 | |||||
Intangible Assets Net Excluding Goodwill | 178 | 190 | 201 | 210 | 215 | - | - | - | - | - | - | - | |||||
Deferred Income Tax Assets Net | 597 | 596 | 655 | 646 | 612 | 622 | 764 | 757 | 841 | - | - | - | |||||
Finite Lived Intangible Assets Net | - | - | - | - | - | - | 306 | 319 | 349 | - | - | - | |||||
Deposits Assets Noncurrent | 785 | 823 | 783 | 835 | 683 | 628 | 823 | 754 | 769 | 426 | 446 | 422 | |||||
Assets | 17,399 | 17,787 | 18,668 | 17,831 | 15,986 | 15,344 | 16,342 | 15,195 | 14,949 | 13,346 | 11,563 | 10,687 | |||||
Accounts Payable Current | 5,965 | 6,298 | 6,795 | 6,487 | 5,702 | 5,554 | 5,899 | 5,621 | 5,370 | 5,099 | 4,616 | 4,077 | |||||
Accrued Liabilities Current | 406 | 515 | 467 | 430 | 391 | 461 | 473 | 516 | 388 | 352 | 312 | 272 | |||||
Contract With Customer Liability Current | 183 | 188 | 210 | 188 | 172 | 141 | 191 | 139 | 135 | 97 | 86 | 93 | |||||
Short Term Borrowings | 1,672 | 960 | 1,371 | 785 | 556 | 479 | 379 | 336 | 272 | 282 | 232 | 232 | |||||
Long Term Debt Current | - | 0 | 0 | 169 | 0 | 66 | 22 | 165 | 196 | 203 | 382 | 186 | |||||
Operating Lease Liability Current | 557 | 545 | 519 | 505 | 444 | 422 | 456 | 427 | 419 | 386 | 351 | 332 | |||||
Other Liabilities Current | 840 | 851 | 831 | 805 | 646 | 593 | 765 | 654 | 655 | 526 | 527 | 452 | |||||
Liabilities Current | 9,623 | 9,357 | 10,193 | 9,369 | 7,911 | 7,716 | 8,185 | 7,858 | 7,435 | 6,945 | 6,506 | 5,643 | |||||
Long Term Debt | 617 | 648 | 618 | 850 | 1,002 | 988 | 1,194 | 1,047 | 1,062 | 529 | 528 | 719 | |||||
Operating Lease Liability Noncurrent | 2,550 | 2,482 | 2,441 | 2,270 | 2,078 | 1,770 | 1,970 | 1,740 | 1,668 | 1,387 | 1,295 | 1,255 | |||||
Liabilities | 13,469 | 13,164 | 13,927 | 13,146 | 11,588 | 11,167 | 12,065 | 11,248 | 10,750 | 9,242 | 8,634 | 7,912 | |||||
Redeemable Noncontrolling Interest Equity Carrying… | - | 0 | 0 | 0 | 24 | 75 | 84 | 92 | 114 | - | - | - | |||||
Equity | |||||||||||||||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital | 8,757 | 9,025 | 9,063 | 9,025 | 8,898 | 8,736 | 8,625 | 8,509 | 8,578 | 8,489 | 8,402 | 8,316 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -540 | -381 | -327 | -250 | -404 | -404 | -51 | -198 | -121 | -17 | -59 | -34 | |||||
Retained Earnings Accumulated Deficit | -4,287 | -4,021 | -3,995 | -4,090 | -4,122 | -4,229 | -4,385 | -4,455 | -4,378 | -4,383 | -5,415 | -5,507 | |||||
Minority Interest | - | 0 | 0 | 0 | 2 | -1 | 4 | -1 | 6 | - | - | - | |||||
Stockholders Equity | 3,930 | 4,623 | 4,741 | 4,685 | 4,374 | 4,102 | 4,193 | 3,855 | 4,085 | 4,089 | 2,928 | 2,775 | |||||
Liabilities And Stockholders Equity | 17,399 | 17,787 | 18,668 | 17,831 | 15,986 | 15,344 | 16,342 | 15,195 | 14,949 | 13,346 | 11,563 | 10,687 | |||||
Common Class A | 1,637 | 10,000 | 4 | 1,557 | 108 | 10,000 | 5 | 6 | 1,613 | - | 1,613 | - | |||||
Common Class B | 158 | 250 | 0 | 0 | 158 | 250 | 0 | 0 | 175 | - | 175 | - | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -20.04% | - | - | - | - | - | - | - | - | - | - | - |
| 2025 | 16.87% | 28.37% | 26.04% | -4.41% | 7.66% | 4.18% | -12.36% | -24.46% | -37.78% | 0.64% | 15.18% | -13.84% |
| 2024 | 5.96% | -2.38% | -5.96% | 7.16% | 20.03% | 24.19% | 5.67% | -6.17% | -6.00% | -3.43% | -11.50% | 12.70% |
| 2023 | -0.48% | 4.76% | 8.43% | -0.78% | -11.92% | -11.87% | 2.73% | 5.27% | -5.53% | -3.67% | 20.67% | 26.10% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.97 | 1.04 | 1.06 | 1.09 | 1.16 | 1.17 | 1.13 | 1.12 | 1.15 | 1.14 | 1.14 | 1.19 | |||||
| Quick Ratio | 0.70 | 0.72 | 0.76 | 0.79 | 0.84 | 0.83 | 0.79 | 0.81 | 0.83 | 0.85 | 0.85 | 0.86 | |||||
| Working Capital | -260.00M | 334.00M | 613.00M | 807.00M | 1.30B | 1.28B | 1.03B | 951.00M | 1.13B | 947.00M | 923.92M | 1.07B | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 3.43 | 2.85 | 2.94 | 2.81 | 2.65 | 2.72 | 2.88 | 2.92 | 2.63 | 2.26 | 2.95 | 2.85 | |||||
| Interest Coverage TTM | - | - | - | - | - | 16.15 | 6.21 | 4.30 | 6.06 | 9.85 | 10.37 | 12.12 | |||||
| Debt Ratio | 0.77 | 0.74 | 0.75 | 0.74 | 0.72 | 0.73 | 0.74 | 0.74 | 0.72 | 0.69 | 0.75 | 0.74 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 2.10 | 2.08 | 1.92 | 1.95 | 2.01 | 2.11 | 2.07 | 2.10 | 2.08 | 2.13 | 2.35 | 2.31 | |||||
| Days Sales Outstanding TTM | 4.34 | 4.07 | 4.93 | 5.92 | 6.37 | 4.35 | 5.07 | 4.61 | 5.17 | 4.70 | 3.58 | 2.70 | |||||
| Receivables Turnover TTM | 84.14 | 89.70 | 73.99 | 61.69 | 57.26 | 83.96 | 71.97 | 79.26 | 70.60 | 77.65 | 101.87 | 135.18 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.09 | 0.12 | 0.22 | 0.21 | 0.15 | 0.08 | 0.55 | 0.57 | 0.69 | 0.75 | 0.24 | 0.24 | |||||
| Free Cash Flow Per Share TTM | 0.16 | 0.29 | 0.69 | 0.43 | 0.56 | 0.56 | 0.51 | 0.84 | 0.81 | 0.99 | 1.03 | 0.61 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 28.81% | 29.37% | 29.97% | 29.87% | 29.68% | 29.18% | 27.79% | 26.92% | 26.07% | 25.39% | 25.01% | 24.73% | |||||
| Operating Profit Margin TTM | 0.22% | 1.37% | 2.31% | 2.24% | 1.77% | 1.44% | 0.88% | 0.86% | 1.58% | 1.94% | 1.84% | 1.88% | |||||
| Net Profit Margin TTM | -0.45% | 0.62% | 1.24% | 1.22% | 0.92% | 0.51% | 3.47% | 3.76% | 4.85% | 5.58% | 1.85% | 1.94% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 13.10% | 14.09% | 16.63% | 18.70% | 20.88% | 24.14% | 24.68% | 23.17% | 20.82% | 18.46% | 13.86% | 11.03% | |||||
| Net Income Growth (1Y) | -155.79% | 38.96% | -58.18% | -61.49% | -77.11% | -88.68% | 133.59% | 138.66% | 498.13% | -1,578.10% | -171.60% | -142.28% | |||||
| EPS Growth (1Y) | -155.21% | 37.13% | -58.83% | -62.08% | -77.26% | -88.75% | 132.16% | 137.46% | 491.79% | -1,564.00% | -170.93% | -141.89% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -216.70 | 200.40 | 140.10 | 138.17 | 138.97 | 256.05 | 43.98 | 36.64 | 25.63 | 21.22 | 70.70 | 72.26 | |||||
| P/B | 8.77 | 9.28 | 12.38 | 11.62 | 9.05 | 9.61 | 10.51 | 9.72 | 7.81 | 7.06 | 10.36 | 11.16 | |||||
| P/S TTM | 0.98 | 1.24 | 1.74 | 1.69 | 1.28 | 1.30 | 1.53 | 1.38 | 1.24 | 1.18 | 1.31 | 1.40 | |||||
| Market Cap | 34.46B | 42.89B | 58.70B | 54.44B | 39.61B | 39.43B | 44.07B | 37.48B | 31.92B | 28.85B | 30.33B | 30.97B | |||||
| Enterprise Value | 30.35B | 38.08B | 53.37B | 49.18B | 34.96B | 34.87B | 39.68B | 33.07B | 27.68B | 24.06B | 25.83B | 27.18B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 295.00M | 522.00M | 1.26B | 777.00M | 1.02B | 1.01B | 920.00M | 1.50B | 1.46B | 1.76B | 1.84B | 1.08B | |||||
| Net Debt | -4.10B | -4.80B | -5.34B | -5.25B | -4.64B | -4.56B | -4.39B | -4.41B | -4.24B | -4.79B | -4.50B | -3.79B | |||||
Per-Share and Margin | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
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Growth Rates | |||||||||||||||||
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| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
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Valuation Ratios | |||||||||||||||||
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