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what it is
Coupang is the app where South Koreans buy groceries, household goods, and other everyday stuff, then get it delivered fast.
how it gets paid
Last year Coupang made $34.5B in revenue. Same-day essentials was the main engine at $13.0B, or 38% of sales.
why it's growing
Revenue grew 14.1% last year. The stock is ranked to trail the broader market averages over the coming six to 12 months.
what just happened
Coupang missed by $0.06 even as revenue reached $25.7B.
At a glance
B+ balance sheet — decent shape, but not bulletproof
84.5x trailing p/e — you're paying up for this one
31.0% return on capital — every dollar works hard here
xvary composite: 45/100 — below average
$0.55 fy2026 eps est
What they do
Coupang is the app where South Koreans buy groceries, household goods, and other everyday stuff, then get it delivered fast.
Your groceries, home goods, and checkout live in one system. Coupang did $34.5B of annual revenue and still runs a 6.0% operating margin, which is what scale looks like when the machine is already huge. Switching costs (leaving is painful) matter because your next order is already one tap away.
How they make money
$34.5B
annual revenue · their business grew +14.1% last year
Same-day essentials
$13.0B
+16.0%
Home and decor
$9.2B
+12.0%
Apparel and beauty
$6.4B
+13.0%
Digital services and other commerce
$5.9B
+20.0%
The products that matter
online retail and fulfillment
Products Commerce
$34.5B revenue
it's the economic core of the company, and the current feed points to just 4.2% growth in that core line. that's enough to matter when the stock trades at 84.5x trailing earnings.
core engine
newer offerings and add-on services
Developing offerings
size not disclosed here
management said this division helped support the september-period revenue result of $9.267B. the current snapshot just doesn't break out the segment math, so we won't pretend it does.
watch for disclosure
Key numbers
$34.5B
annual revenue
That is the size of the machine. For you, it means Coupang already has enough volume to matter in the real world.
6.0%
operating margin
That means 6 cents of every sales dollar stays after operating costs. For you, the delivery network is still expensive.
31.0%
return on capital
That means management gets $31 back for every $100 it puts into the business. For you, the model is efficient.
84.5x
trailing p/e
That means investors pay $84.50 for $1 of last year's earnings. For you, the stock already expects a lot.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $618M (2% of capital)
- net profit margin 4.5% — keeps 4 cents of every dollar in revenue
- return on equity 33% — $0.33 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CPNG right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Coupang missed by $0.06 even as revenue reached $25.7B.
Yahoo's consensus snapshot showed EPS at -$0.01 versus $0.05 expected. EDGAR separately shows $25.7B of revenue and a 29.6% gross margin, so sales kept moving while profit lagged.
$25.7B
revenue
-$0.01
eps
29.6%
gross margin
the number that mattered
The $0.06 EPS miss mattered because 84.5x earnings leaves little room for wobble.
-
coupang shares are down sharply in price over the past three months.a good amount of the selling pressure likely stemmed from the company’s recent data security breach of customer information. indeed, investors seem a bit apprehensive at the moment given concerns over heightened regulatory controls and pending class action lawsuits against the south korea-based e-commerce giant. management also announced a $1 billion compensation plan for the more than 30 million customers impacted by the breach.
-
coupang shares have plummeted more than 30% in price since late october.the stock is ranked to trail the broader market averages over the coming six to 12 months, and thus probably won’t pique the interest of short-term-minded accounts. nevertheless, the company logged a solid financial performance for the third quarter, and probably ended 2025 on a decent note.
-
september-period revenues of $9.267 billion improved 18% vs. prior year, thanks to a strong showing from the product commerce segment, as well as solid growth from the developing offerings division.indeed, the customer base widened considerably versus the previous-year period, and net revenue per active customer also rose nicely. on the earnings front, share profits of $0.05 were in line with our call, and rose a penny vs. prior year. on balance, we are lifting our full-year 2025 and 2026 top-line estimates by $1.225 billion and $2.0 billion, to $35.0 billion and $38.0 billion, respectively.
-
the balance sheet is flush with cash.coupang ended the september period with $7.2 billion in cash on hand and modest long-term debt obligations. while the company doesn’t pay a dividend, stock buybacks are expected to continue, in addition to potential m&a activity.
-
the recent price decline presents a decent entry point for subscribers with a long-term horizon.to this point, we think the company is poised to remain a major operator in the south korea marketplace in the years ahead, and should be able to navigate the near-term headlines and possible regulatory challenges. all told, capital appreciation potential over the 2028-2030 time frame is now worthwhile at the recent quotation.
source: company earnings report, 2026
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What could go wrong
the #1 risk is legal, regulatory, and brand fallout from the customer data breach.
high
customer data breach fallout
more than 30 million customers were affected and management announced a $1B compensation plan. that puts legal costs, regulatory scrutiny, and trust damage into the same bucket.
$1B is larger than the company's current annual profit base implied by a 2.6% margin on $34.5B of revenue.
med
thin retail economics
2.6% net margin means there is very little room for freight costs, labor costs, promotions, or fulfillment inefficiency to go the wrong way.
small operating misses can do outsized damage to earnings when the margin cushion is this thin.
med
core commerce slowdown
the current feed points to just 4.2% growth in the core commerce line. if that pace sticks while costs stay elevated, the valuation math gets awkward fast.
84.5x trailing earnings only works if growth re-accelerates or margins widen.
low
sentiment and volatility risk
price stability is just 15 out of 100 and the stock has traded between $14 and $34 over the last 52 weeks. this name does not ask permission before moving.
that volatility can swamp the operating story in the short run, even when revenue trends look fine.
the breach overhang matters because the business only keeps 2.6% of revenue as net profit. one large clean-up bill can eat a lot of progress.
source: institutional data · regulatory filings · risk analysis
Pay attention to
risk
watch the real cost of breach clean-up
the headline number is $1B. what matters next is whether that stays a one-time hit or turns into a longer legal and regulatory drag.
metric
track core commerce growth
the feed points to 4.2% growth in the core line. if that number stays soft, the stock stops being a growth story and starts being a multiple story.
trend
see if margin moves off 2.6%
revenue scale is already here. the next rerating probably comes from proving that profits can widen from a very low base.
calendar
next earnings need to settle two arguments at once
you want to see growth hold near the $9.3B revenue setup and hear whether customer behavior changed after the breach.
Analyst rankings
short-term outlook
below average
momentum score 4 — analysts see underperformance risk in the next six to 12 months. in human-speak, they are not rushing to defend this one.
risk profile
average
stability score 3 — this sits in the middle of the pack on fundamental safety, even if the share price does not feel calm.
chart momentum
top 20%
technical score 2 — the chart looks better than the fundamental rank. welcome to a stock where traders and long-term holders are reading different pages.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 343 buyers vs. 296 sellers in 3q2025. total institutional holdings: 1.4B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$16
$35
$21
current price
$26
target midpoint · +23% from current · 3-5yr high: $40 (+90% · 17% ann'l return)
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