Cash flow Coupang, Inc.

Equities

CPNG

US22266T1097

Department Stores

Market Closed - Nyse Other stock markets 20:00:02 09/03/2026 GMT			After hours 23:43:41
18.81 ^USD	-1.36%		18.84	+0.19%

03-02	Morgan Stanley Trims Price Target on Coupang to $29 From $31, Keeps Overweight Rating	MT
03-02	Nomura Adjusts Coupang Price Target to $20 From $22, Maintains Neutral Rating	MT

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Published financial data: COUPANG, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	16.49B	18.34B	21.22B	23.87B	26.31B
Other Revenues, Total	1.92B	2.24B	3.16B	6.4B	8.22B
Total Revenues	18.41B	20.58B	24.38B	30.27B	34.53B
Cost of Goods Sold, Total	15.3B	15.87B	18.19B	21.44B	24.39B
Gross Profit	3.11B	4.71B	6.19B	8.83B	10.14B
Selling General & Admin Expenses, Total	4.31B	4.82B	5.72B	8.27B	9.64B
Other Operating Expenses, Total	4.31B	4.82B	5.72B	8.27B	9.64B
Operating Income	-1.2B	-112M	473M	563M	498M
Interest Expense, Total	-45.36M	-27.17M	-48M	-140M	-86M
Interest And Investment Income	8.64M	52.8M	178M	216M	199M
Net Interest Expenses	-36.71M	25.63M	130M	76M	113M
Currency Exchange Gains (Loss)	-2.93M	9.23M	-	-	-
Other Non Operating Income (Expenses)	-7.98M	-15.94M	-19M	-39M	11M
EBT, Excl. Unusual Items	-1.25B	-93.1M	584M	600M	622M
Merger & Related Restructuring Charges	-	-	-	-127M	-25M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-296M	-	-	-	-
EBT, Incl. Unusual Items	-1.54B	-93.1M	584M	473M	597M
Income Tax Expense	1M	-1.06M	-776M	407M	383M
Earnings From Continuing Operations	-1.54B	-92.04M	1.36B	66M	214M
Net Income to Company	-1.54B	-92.04M	1.36B	66M	214M
Minority Interest	-	-	-	88M	-6M
Net Income - (IS)	-1.54B	-92.04M	1.36B	154M	208M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	-1.54B	-92.04M	1.36B	154M	208M
Net Income to Common Excl. Extra Items	-1.54B	-92.04M	1.36B	154M	208M
Per Share Items
Net EPS - Basic	-1.08	-0.05	0.76	0.09	0.11
Basic EPS - Continuing Operations	-1.08	-0.05	0.76	0.09	0.11
Basic Weighted Average Shares Outstanding	1.42B	1.76B	1.78B	1.79B	1.82B
Net EPS - Diluted	-1.08	-0.05	0.75	0.08	0.11
Diluted EPS - Continuing Operations	-1.08	-0.05	0.75	0.08	0.11
Diluted Weighted Average Shares Outstanding	1.42B	1.76B	1.8B	1.83B	1.86B
Normalized Basic EPS	-0.55	-0.03	0.2	0.26	0.21
Normalized Diluted EPS	-0.55	-0.03	0.2	0.25	0.21
Supplemental Items
EBITDA	-996M	119M	748M	996M	1.02B
EBITA	-1.2B	-112M	473M	627M	548M
EBIT	-1.2B	-112M	473M	563M	498M
EBITDAR	-618M	568M	1.25B	1.64B	1.8B
Total Revenues (As Reported)	18.41B	20.58B	24.38B	30.27B	34.53B
Effective Tax Rate - (Ratio)	-0.06	1.14	-132.88	86.05	64.15
Current Domestic Taxes	2K	3K	62M	76M	-35M
Current Foreign Taxes	1M	39.4M	46M	106M	381M
Total Current Taxes	1M	39.4M	108M	182M	346M
Deferred Domestic Taxes	-	-40.46M	21M	-15M	-48M
Deferred Foreign Taxes	-	-	-905M	240M	85M
Total Deferred Taxes	-	-40.46M	-884M	225M	37M
Normalized Net Income	-778M	-58.19M	365M	463M	383M
Interest on Long-Term Debt	20M	-	-	-	-
Non-Cash Pension Expense	7.43M	17.87M	18M	21M	26M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	1.1B
Selling and Marketing Expenses	-	-	-	-	1.1B
Net Rental Expense, Total	379M	450M	499M	646M	788M
Imputed Operating Lease Interest Expense	63.1M	43.2M	73.85M	222M	130M
Imputed Operating Lease Depreciation	316M	406M	425M	424M	658M
Stock-Based Comp., COGS (Total)	10.98M	15.92M	14M	17M	17M
Stock-Based Comp., SG&A Exp. (Total)	238M	246M	312M	416M	458M
Total Stock-Based Compensation	249M	262M	326M	433M	475M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.49B	3.51B	5.24B	5.88B	6.32B
Short Term Investments	-	17.75M	-	-	-
Total Cash And Short Term Investments	3.49B	3.53B	5.24B	5.88B	6.32B
Accounts Receivable, Total	175M	184M	314M	407M	363M
Total Receivables	175M	184M	314M	407M	363M
Inventory	1.42B	1.66B	1.67B	2.1B	2.26B
Prepaid Expenses	-	285M	316M	458M	660M
Restricted Cash	320M	176M	353M	151M	94M
Other Current Assets, Total	232M	-	-	-	-
Total Current Assets	5.64B	5.83B	7.89B	8.99B	9.69B
Gross Property Plant And Equipment	3.13B	3.76B	4.7B	5.79B	7.79B
Accumulated Depreciation	-409M	-539M	-637M	-964M	-1.3B
Net Property Plant And Equipment	2.72B	3.23B	4.07B	4.83B	6.49B
Goodwill	9.74M	-	-	-	-
Other Intangibles, Total	-	-	-	271M	190M
Deferred Tax Assets Long-Term	-	-	925M	622M	596M
Other Long-Term Assets, Total	273M	458M	463M	628M	823M
Total Assets	8.64B	9.51B	13.35B	15.34B	17.79B
Liabilities
Accounts Payable, Total	3.44B	3.62B	5.1B	5.55B	6.3B
Accrued Expenses, Total	304M	299M	352M	461M	515M
Short-term Borrowings	7.81M	175M	282M	479M	960M
Current Portion of Long-Term Debt	342M	129M	203M	66M	-
Current Portion of Leases	287M	326M	386M	422M	545M
Unearned Revenue Current, Total	93.97M	92.36M	97M	141M	188M
Other Current Liabilities	267M	419M	526M	593M	851M
Total Current Liabilities	4.74B	5.06B	6.94B	7.72B	9.36B
Long-Term Debt	283M	538M	529M	988M	648M
Long-Term Leases	1.2B	1.23B	1.39B	1.77B	2.48B
Other Non Current Liabilities	237M	265M	381M	693M	677M
Total Liabilities	6.47B	7.1B	9.24B	11.17B	13.16B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	175K	177K	-	-	-
Additional Paid In Capital	7.87B	8.15B	8.49B	8.74B	9.02B
Retained Earnings	-5.65B	-5.74B	-4.38B	-4.23B	-4.02B
Comprehensive Income and Other	-47.74M	2.22M	-17M	-404M	-381M
Total Common Equity	2.18B	2.41B	4.09B	4.1B	4.62B
Minority Interest	-	-	15M	74M	-
Total Equity	2.18B	2.41B	4.1B	4.18B	4.62B
Total Liabilities And Equity	8.64B	9.51B	13.35B	15.34B	17.79B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.76B	1.77B	1.79B	1.81B	1.83B
ECS Total Common Shares Outstanding	1.75B	1.77B	1.79B	1.8B	1.82B
Book Value / Share	1.24	1.36	2.28	2.28	2.54
Tangible Book Value	2.17B	2.41B	4.09B	3.83B	4.43B
Tangible Book Value Per Share	1.23	1.36	2.28	2.13	2.43
Total Debt	2.12B	2.4B	2.79B	3.72B	4.64B
Net Debt	-1.37B	-1.13B	-2.46B	-2.15B	-1.68B
Debt Equivalent of Unfunded Proj. Benefit Obligation	283M	304M	396M	491M	631M
Debt Equivalent Oper. Leases	3.03B	3.6B	3.99B	5.17B	6.3B
Minority Interest, Total (Incl. Fin. Div)	-	-	15M	74M	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.42B	1.66B	1.67B	2.1B	2.26B
Land - (BS)	141M	296M	323M	401M	420M
Buildings, Total	320M	303M	751M	794M	866M
Machinery, Total	720M	782M	993M	1.2B	1.76B
Full Time Employees	68K	63K	78K	95K	108K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-1.54B	-92.04M	1.36B	154M	208M
Depreciation & Amortization - CF	201M	231M	275M	369M	467M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	64M	50M
Depreciation & Amortization, Total	201M	231M	275M	433M	517M
Stock-Based Compensation (CF)	249M	262M	326M	433M	475M
Other Operating Activities, Total	750M	583M	-247M	831M	1B
Change In Accounts Receivable	-120M	-33.83M	-133M	209M	37M
Change In Inventories	-528M	-367M	-44M	-376M	-233M
Change In Accounts Payable	728M	444M	1.51B	507M	515M
Change in Unearned Revenues	14.02M	-	-	-	-
Change in Other Net Operating Assets	-163M	-462M	-399M	-305M	-751M
Cash from Operations	-411M	565M	2.65B	1.89B	1.77B
Capital Expenditure	-674M	-824M	-896M	-879M	-1.25B
Sale of Property, Plant, and Equipment	1.86M	13.18M	19M	9M	5M
Cash Acquisitions	-	-	-	68M	-
Other Investing Activities, Total	-3.73M	-37.17M	-50M	-17M	-8M
Cash from Investing	-676M	-848M	-927M	-819M	-1.25B
Short Term Debt Issued, Total	24.72M	177M	10M	42M	-
Long-Term Debt Issued, Total	409M	524M	572M	857M	2.9B
Total Debt Issued	434M	701M	582M	899M	2.9B
Short Term Debt Repaid, Total	-166M	-24.82M	-	-	-
Long-Term Debt Repaid, Total	-170M	-446M	-392M	-794M	-2.88B
Total Debt Repaid	-336M	-471M	-392M	-794M	-2.88B
Issuance of Common Stock	3.49B	17.77M	9M	4M	5M
Repurchase of Common Stock	-	-	-	-178M	-243M
Other Financing Activities, Total	-14.76M	-	-	-	-28M
Cash from Financing	3.58B	247M	199M	-69M	-247M
Foreign Exchange Rate Adjustments	-81.7M	-87.61M	-14M	-564M	109M
Net Change in Cash	2.41B	-123M	1.91B	434M	381M
Supplemental Items
Cash Interest Paid	21.46M	19.34M	31M	85M	65M
Cash Income Tax Paid (Refund)	2.59M	5.91M	110M	138M	177M
Levered Free Cash Flow	-772M	-247M	1.28B	460M	844M
Unlevered Free Cash Flow	-743M	-230M	1.31B	548M	897M
Change In Net Working Capital	-228M	-171M	-1.31B	-209M	-845M
Net Debt Issued / Repaid	98.06M	230M	190M	105M	19M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-10.92	-0.77	2.59	2.45	1.88
Return on Total Capital	-25.26	-1.54	5.05	4.76	3.63
Return On Equity %	-196.17	-4.01	41.73	1.59	4.86
Return on Common Equity	162.99	-4.01	41.83	3.76	4.77
Margin Analysis
Gross Profit Margin %	16.89	22.88	25.39	29.18	29.37
SG&A Margin	23.4	23.43	23.45	27.32	27.92
EBITDA Margin %	-5.41	0.58	3.07	3.29	2.94
EBITA Margin %	-6.51	-0.54	1.94	2.07	1.59
EBIT Margin %	-6.51	-0.54	1.94	1.86	1.44
Income From Continuing Operations Margin %	-8.38	-0.45	5.58	0.22	0.62
Net Income Margin %	-8.38	-0.45	5.58	0.51	0.6
Net Avail. For Common Margin %	-8.38	-0.45	5.58	0.51	0.6
Normalized Net Income Margin	-4.23	-0.28	1.5	1.53	1.11
Levered Free Cash Flow Margin	-4.19	-1.2	5.26	1.52	2.44
Unlevered Free Cash Flow Margin	-4.04	-1.12	5.39	1.81	2.6
Asset Turnover
Asset Turnover	2.69	2.27	2.13	2.11	2.08
Fixed Assets Turnover	7.75	6.92	6.69	6.81	6.1
Receivables Turnover (Average Receivables)	133.72	101.93	85.23	66.2	68.34
Inventory Turnover (Average Inventory)	11.85	10.31	10.95	11.39	11.2
Short Term Liquidity
Current Ratio	1.19	1.15	1.14	1.17	1.04
Quick Ratio	0.77	0.73	0.8	0.81	0.71
Operating Cash Flow to Current Liabilities	-0.09	0.11	0.38	0.24	0.19
Days Sales Outstanding (Average Receivables)	2.73	3.58	4.28	5.53	5.34
Days Outstanding Inventory (Average Inventory)	30.81	35.39	33.33	32.14	32.58
Average Days Payable Outstanding	74.5	80.04	87.44	89.14	88.11
Cash Conversion Cycle (Average Days)	-40.96	-41.07	-49.82	-51.47	-50.18
Long Term Solvency
Total Debt/Equity	97.48	99.5	67.91	89.18	100.26
Total Debt / Total Capital	49.36	49.87	40.44	47.14	50.06
LT Debt/Equity	68.22	73.39	46.69	66.03	67.7
Long-Term Debt / Total Capital	34.55	36.79	27.8	34.9	33.81
Total Liabilities / Total Assets	74.82	74.62	69.25	72.78	74.01
EBIT / Interest Expense	-26.41	-4.12	9.85	4.02	5.79
EBITDA / Interest Expense	-13.62	20.92	25.98	11.73	20.97
(EBITDA - Capex) / Interest Expense	-28.47	-9.42	7.31	5.45	6.42
Total Debt / EBITDA	-3.43	4.23	2.23	2.27	2.57
Net Debt / EBITDA	2.21	-1.98	-1.97	-1.31	-0.93
Total Debt / (EBITDA - Capex)	-1.64	-9.39	7.94	4.88	8.4
Net Debt / (EBITDA - Capex)	1.06	4.4	-7	-2.82	-3.05
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	53.8	11.82	18.46	24.14	14.09
Gross Profit, 1 Yr. Growth %	56.53	51.49	31.42	42.67	16.36
EBITDA, 1 Yr. Growth %	156.51	-111.94	528.57	33.16	23.63
EBITA, 1 Yr. Growth %	132.17	-90.65	-522.32	31.45	21.24
EBIT, 1 Yr. Growth %	132.17	-90.65	-522.32	19.03	28.35
Earnings From Cont. Operations, 1 Yr. Growth %	233.06	-94.03	-1.58K	-95.15	224.24
Net Income, 1 Yr. Growth %	233.06	-94.03	-1.58K	-88.68	35.06
Normalized Net Income, 1 Yr. Growth %	169.1	-92.53	-727.96	26.85	8.24
Diluted EPS Before Extra, 1 Yr. Growth %	-94.35	-95.19	-1.54K	-89.33	37.5
Accounts Receivable, 1 Yr. Growth %	146.08	5.2	70.65	29.62	-10.81
Inventory, 1 Yr. Growth %	22.42	16.56	0.54	25.99	7.48
Net Property, Plant and Equip., 1 Yr. Growth %	34.15	18.48	26.08	18.77	34.33
Total Assets, 1 Yr. Growth %	70.54	10.08	40.29	14.97	15.92
Tangible Book Value, 1 Yr. Growth %	-153.18	10.94	69.39	-5.43	15.68
Common Equity, 1 Yr. Growth %	-153.48	10.94	69.39	0.34	12.67
Cash From Operations, 1 Yr. Growth %	-236.15	-237.72	369.38	-28.88	-5.99
Capital Expenditures, 1 Yr. Growth %	39.01	22.36	8.74	-1.9	42.32
Levered Free Cash Flow, 1 Yr. Growth %	-535.35	-67.94	-585.36	-64.13	140.31
Unlevered Free Cash Flow, 1 Yr. Growth %	-403.89	-69	-630.55	-58.29	104.62
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	71.29	31.14	15.1	21.27	19.01
Gross Profit, 2 Yr. CAGR %	73.47	53.99	41.1	36.93	28
EBITDA, 2 Yr. CAGR %	32.1	-44.67	-13.38	189.31	16.49
EBITA, 2 Yr. CAGR %	36.61	-53.41	-37.16	138.75	7.18
EBIT, 2 Yr. CAGR %	36.61	-53.41	-37.16	124.2	2.61
Earnings From Cont. Operations, 2 Yr. CAGR %	48.78	-55.42	-6.12	-15.3	-60.33
Net Income, 2 Yr. CAGR %	48.78	-55.42	-6.12	29.38	-60.89
Normalized Net Income, 2 Yr. CAGR %	33.67	-55.15	-31.54	182.23	2.4
Diluted EPS Before Extra, 2 Yr. CAGR %	-83.43	-94.78	-16.8	23.89	-61.7
Accounts Receivable, 2 Yr. CAGR %	65.72	60.89	33.82	48.73	7.52
Inventory, 2 Yr. CAGR %	50	19.45	8.26	12.55	16.37
Net Property, Plant and Equip., 2 Yr. CAGR %	64.72	26.07	22.22	22.37	26.31
Total Assets, 2 Yr. CAGR %	63.57	37.01	24.27	27	15.45
Tangible Book Value, 2 Yr. CAGR %	-21.74	-23.02	37.08	25.99	4.6
Common Equity, 2 Yr. CAGR %	-21.52	-22.98	37.08	30.37	6.33
Cash From Operations, 2 Yr. CAGR %	14.74	36.93	154.02	82.7	-18.24
Capital Expenditures, 2 Yr. CAGR %	75.86	30.42	15.3	3.28	18.16
Levered Free Cash Flow, 2 Yr. CAGR %	34.69	18.14	28.89	31.94	-18.94
Unlevered Free Cash Flow, 2 Yr. CAGR %	42.74	-2.94	32.83	48.75	-17.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	65.59	48.59	26.77	18.03	18.83
Gross Profit, 3 Yr. CAGR %	147.19	65.81	46.07	41.62	29.13
EBITDA, 3 Yr. CAGR %	-0.08	-40.72	24.41	-0.03	104.32
EBITA, 3 Yr. CAGR %	4.41	-44.12	-2.86	-19.41	70.79
EBIT, 3 Yr. CAGR %	4.41	-44.12	-2.86	-22.25	64.44
Earnings From Cont. Operations, 3 Yr. CAGR %	12.02	-49.07	43.2	-65.03	32.5
Net Income, 3 Yr. CAGR %	12.02	-49.07	43.2	-53.61	31.25
Normalized Net Income, 3 Yr. CAGR %	4.38	-48.88	8.06	-15.91	87.44
Diluted EPS Before Extra, 3 Yr. CAGR %	-59.74	-89.03	-66.05	-58.05	28.27
Accounts Receivable, 3 Yr. CAGR %	89.14	42.42	63.95	32.4	25.42
Inventory, 3 Yr. CAGR %	53.74	37.91	12.79	13.87	10.83
Net Property, Plant and Equip., 3 Yr. CAGR %	93.79	47.58	26.07	21.05	26.23
Total Assets, 3 Yr. CAGR %	73.59	43.34	38.1	21.09	23.2
Tangible Book Value, 3 Yr. CAGR %	-7.94	-11.96	0.13	20.76	22.46
Common Equity, 3 Yr. CAGR %	-7.76	-11.92	0.16	23.54	24.18
Cash From Operations, 3 Yr. CAGR %	-16.07	21.94	106.41	66.18	46.4
Capital Expenditures, 3 Yr. CAGR %	93.21	55.83	22.73	9.26	14.93
Levered Free Cash Flow, 3 Yr. CAGR %	-	-16.53	93.47	-15.85	47.2
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-14.2	75.12	-9.72	53.6
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	43.17	36.99	23.61
Gross Profit, 5 Yr. CAGR %	-	-	97.53	53.59	38.55
EBITDA, 5 Yr. CAGR %	-	-	-5.62	11.77	21.18
EBITA, 5 Yr. CAGR %	-	-	-14.78	-0.47	1.21
EBIT, 5 Yr. CAGR %	-	-	-14.78	-2.59	-0.71
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	4.38	-37.59	-14.31
Net Income, 5 Yr. CAGR %	-	-	4.38	-26.06	-14.79
Normalized Net Income, 5 Yr. CAGR %	-	-	-11.82	1.22	5.76
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-46.17	-71.07	-64.37
Accounts Receivable, 5 Yr. CAGR %	-	-	64.69	44.84	38.49
Inventory, 5 Yr. CAGR %	-	-	33.61	27.14	14.21
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	61.16	36.92	26.17
Total Assets, 5 Yr. CAGR %	-	-	51.87	36.57	28.55
Tangible Book Value, 5 Yr. CAGR %	-	-	8.05	1.62	1.71
Common Equity, 5 Yr. CAGR %	-	-	8.08	3.04	2.59
Cash From Operations, 5 Yr. CAGR %	-	-	30.73	43.32	42.52
Capital Expenditures, 5 Yr. CAGR %	-	-	57.18	32.18	20.88
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	1.59	36.61
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	8.47	29.68