FN2 Earnings Intelligence
Coupang, Inc. financials
Coupang, Inc. (CPNG) financial statements and key operating metrics from FN2 Research.
Key Stats
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Market Cap | - | - | - | - | - |
| - Cash | $3,487.7 | $3,509.3 | $5,243 | $5,879 | $6,318 |
| + Debt | $291 | $713.3 | $811 | $1,467 | $1,608 |
| Enterprise Value | - | - | - | - | - |
| Revenue | $18,406.4 | $20,582.6 | $24,383 | $30,268 | $34,534 |
| % Growth | - | 11.8% | 18.5% | 24.1% | 14.1% |
| Gross Profit | $2,951.1 | $4,709.9 | $6,190 | $8,831 | $10,141 |
| % Margin | 16.0% | 22.9% | 25.4% | 29.2% | 29.4% |
| EBITDA | -$1,292.5 | $118.9 | $748 | $869 | $990 |
| % Margin | -7.0% | 0.6% | 3.1% | 2.9% | 2.9% |
| Net Income | -$1,542.6 | -$92 | $1,360 | $154 | $208 |
| % Margin | -8.4% | -0.4% | 5.6% | 0.5% | 0.6% |
| Diluted EPS | -$1.08 | -$0.05 | $0.75 | $0.08 | $0.11 |
| % Growth | - | 95.4% | 1,600.0% | -89.3% | 37.5% |
| Operating Cash Flow | -$410.6 | $565.4 | $2,652 | $1,886 | $1,773 |
| CapEx | $673.7 | $824.3 | $896 | $879 | $1,251 |
| Free Cash Flow | -$1,084.2 | -$258.8 | $1,756 | $1,007 | $522 |
Historical market capitalization is not persisted, so Market Cap and Enterprise Value remain unavailable rather than mixing today's market value into prior periods.
Income Statement
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue | $18,406.4 | $20,582.6 | $24,383 | $30,268 | $34,534 |
| Gross Profit | $2,951.1 | $4,709.9 | $6,190 | $8,831 | $10,141 |
| EBITDA | -$1,292.5 | $118.9 | $748 | $869 | $990 |
| Net Income | -$1,542.6 | -$92 | $1,360 | $154 | $208 |
| Diluted EPS | -$1.08 | -$0.05 | $0.75 | $0.08 | $0.11 |
Balance Sheet
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $3,487.7 | $3,509.3 | $5,243 | $5,879 | $6,318 |
| Short-term Debt | $7.8 | $175.4 | $282 | $479 | $960 |
| Long-term Debt | $283.2 | $537.9 | $529 | $988 | $648 |
| Total Debt | $291 | $713.3 | $811 | $1,467 | $1,608 |
Cash Flow
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$410.6 | $565.4 | $2,652 | $1,886 | $1,773 |
| Capital Expenditure | $673.7 | $824.3 | $896 | $879 | $1,251 |
| Free Cash Flow | -$1,084.2 | -$258.8 | $1,756 | $1,007 | $522 |
Ratios
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue Growth | - | 11.8% | 18.5% | 24.1% | 14.1% |
| Gross Margin | 16.0% | 22.9% | 25.4% | 29.2% | 29.4% |
| EBITDA Margin | -7.0% | 0.6% | 3.1% | 2.9% | 2.9% |
| Net Margin | -8.4% | -0.4% | 5.6% | 0.5% | 0.6% |
| FCF Margin | -5.9% | -1.3% | 7.2% | 3.3% | 1.5% |
| Diluted EPS Growth | - | 95.4% | 1,600.0% | -89.3% | 37.5% |
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