(CPNG) Coupang - Overview
Sector: Consumer Cyclical | Industry: Internet Retail | Exchange: NYSE (USA) | Market Cap: 27.527m USD | Total Return: -45.6% in 12m
Avg Turnover: 370M
Qual. Beats: -2
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
Altman Z'' -1.20 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Coupang, Inc. (CPNG) is an e-commerce platform that operates a vertically integrated retail and logistics network primarily in South Korea, with expanding operations in Taiwan and other international markets. The company’s core Product Commerce segment encompasses its primary retail marketplace, advertising services, and Rocket Fresh grocery delivery. Through its Developing Offerings segment, the company manages ancillary services including food delivery (Eats), video streaming (Play), fintech services, and the luxury fashion platform Farfetch.
The company operates within the Broadline Retail sub-industry, utilizing a business model that integrates proprietary logistics and last-mile delivery to minimize fulfillment times. Unlike traditional asset-light marketplaces, Coupang maintains significant physical infrastructure to control the end-to-end customer experience. South Korea’s high population density and advanced digital infrastructure provide a unique environment for this capital-intensive fulfillment model.
Investors can further evaluate these operational segments and regional growth trends on ValueRay.
Incorporated in 2010 and headquartered in Seattle, Coupang supports its multi-national retail footprint through service centers across Asia, Europe, and the United States. Its recent acquisition of Farfetch signals a strategic pivot toward high-margin luxury categories to complement its high-frequency grocery and general merchandise business.
- Active customer growth and wallet share expansion drive core retail revenue
- Logistics automation and infrastructure scaling improve EBITDA margins across product segments
- Farfetch integration and luxury market penetration influence long-term profitability outlook
- Regulatory scrutiny of South Korean e-commerce practices impacts operational flexibility
- Taiwan expansion success determines capital allocation efficiency and international growth potential
| Net Income: -165.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -4.76 > 1.0 |
| NWC/Revenue: -0.74% < 20% (prev 4.17%; Δ -4.91% < -1%) |
| CFO/TA 0.09 > 3% & CFO 1.55b > Net Income -165.0m |
| Net Debt (1.65b) to EBITDA (223.0m): 7.38 < 3 |
| Current Ratio: 0.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.82b) vs 12m ago -0.82% < -2% |
| Gross Margin: 28.81% > 18% (prev 0.30%; Δ 2.85k% > 0.5%) |
| Asset Turnover: 210.5% > 50% (prev 194.3%; Δ 16.15% > 0%) |
| Interest Coverage Ratio: 2.66 > 6 (EBITDA TTM 223.0m / Interest Expense TTM 76.0m) |
| A: -0.01 (Total Current Assets 9.36b - Total Current Liabilities 9.62b) / Total Assets 17.4b |
| B: -0.25 (Retained Earnings -4.29b / Total Assets 17.4b) |
| C: 0.01 (EBIT TTM 202.0m / Avg Total Assets 16.7b) |
| D: -0.36 (Book Value of Equity -4.83b / Total Liabilities 13.5b) |
| Altman-Z'' = -1.20 = CCC |
| DSRI: 0.64 (Receivables 351.0m/484.0m, Revenue 35.1b/31.1b) |
| GMI: 1.03 (GM 28.81% / 29.68%) |
| AQI: 0.61 (AQ_t 0.06 / AQ_t-1 0.09) |
| SGI: 1.13 (Revenue 35.1b / 31.1b) |
| TATA: -0.10 (NI -165.0m - CFO 1.55b) / TA 17.4b) |
| Beneish M = -3.53 (Cap -4..+1) = AAA |
As of May 27, 2026, the stock is trading at USD 15.47 with a total of 19,876,595 shares traded.
Over the past week, the price has changed by -1.46%,
over one month by -24.50%,
over three months by -17.32% and
over the past year by -45.62%.
Coupang has received a consensus analysts rating of 4.24. Therefore, it is recommended to buy CPNG.
- StrongBuy: 8
- Buy: 6
- Hold: 2
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 27.1 | 75.3% |
P/E Forward = 35.3357
P/S = 0.7836
P/B = 7.1346
P/EG = 0.4477
Revenue TTM = 35.1b USD
EBIT TTM = 202.0m USD
EBITDA TTM = 223.0m USD
Long Term Debt = 617.0m USD (from longTermDebt, last quarter)
Short Term Debt = 1.67b USD (from shortTermDebt, last quarter)
Debt = 7.95b USD (from shortLongTermDebtTotal, last quarter) + Leases 3.11b
Net Debt = 1.65b USD (calculated: Debt 7.95b - CCE 6.30b)
Enterprise Value = 29.2b USD (27.5b + Debt 7.95b - CCE 6.30b)
Interest Coverage Ratio = 2.66 (Ebit TTM 202.0m / Interest Expense TTM 76.0m)
EV/FCF = 104.7x (Enterprise Value 29.2b / FCF TTM 278.5m)
FCF Yield = 0.95% (FCF TTM 278.5m / Enterprise Value 29.2b)
FCF Margin = 0.79% (FCF TTM 278.5m / Revenue TTM 35.1b)
Net Margin = -0.47% (Net Income TTM -165.0m / Revenue TTM 35.1b)
Gross Margin = 28.81% ((Revenue TTM 35.1b - Cost of Revenue TTM 25.0b) / Revenue TTM)
Gross Margin QoQ = 27.01% (prev 28.79%)
Tobins Q-Ratio = 1.68 (Enterprise Value 29.2b / Total Assets 17.4b)
Interest Expense / Debt = 0.96% (Interest Expense 76.0m / Debt 7.95b)
Taxrate = 21.0% (US default 21%)
NOPAT = 159.6m (EBIT 202.0m * (1 - 21.00%))
Current Ratio = 0.97 (Total Current Assets 9.36b / Total Current Liabilities 9.62b)
Debt / Equity = 2.02 (Debt 7.95b / totalStockholderEquity, last quarter 3.93b)
Debt / EBITDA = 7.38 (Net Debt 1.65b / EBITDA 223.0m)
Debt / FCF = 5.91 (Net Debt 1.65b / FCF TTM 278.5m)
Total Stockholder Equity = 4.49b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.99% (Net Income -165.0m / Total Assets 17.4b)
RoE = -1.88% (Net Income TTM -165.0m / Total Stockholder Equity 8.78b)
RoCE = 2.15% (EBIT 202.0m / Capital Employed (Equity 8.78b + L.T.Debt 617.0m))
RoIC = 1.70% (NOPAT 159.6m / Invested Capital 9.40b)
WACC = 6.86% (E(27.5b)/V(35.5b) * Re(8.62%) + D(7.95b)/V(35.5b) * Rd(0.96%) * (1-Tc(0.21)))
Discount Rate = 8.62% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 58.43 | Cagr: 0.54%
[DCF] Terminal Value 73.10% ; FCFF base≈573.9m ; Y1≈503.3m ; Y5≈406.6m
[DCF] Fair Price = 2.98 (EV 6.53b - Net Debt 1.65b = Equity 4.88b / Shares 1.64b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.62 | # QB: -2
Revenue Correlation: 99.16 | Revenue CAGR: 19.20% | SUE: -0.70 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.05 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.02 | Chg30d=-63.75% | Revisions=-43% | Analysts=5
EPS current Year (2026-12-31): EPS=-0.26 | Chg30d=-238.70% | Revisions=-20% | GrowthEPS=-317.4% | GrowthRev=+9.4%
EPS next Year (2027-12-31): EPS=0.46 | Chg30d=-20.78% | Revisions=-20% | GrowthEPS=+277.4% | GrowthRev=+14.8%
[Analyst] Revisions Ratio: -43%