Educational research only—not investment advice or a recommendation. Scores and estimates may use delayed, incomplete, restated, or corrected market and filing data. Independently verify information before making an investment decision.
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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Coupang, Inc., together with its subsidiaries, owns and operates retail business through its mobile applications and internet websites in South Korea and internationally. It operates through Product Commerce and Developing Offerings segments. The Product Commerce segment includes Korean retail and marketplace offerings; Rocket Fresh, a fresh grocery offering; and advertising products.
How they make money
Coupang operates a technology-driven commerce platform that generates revenue through direct retail sales, third-party marketplace commissions, advertising services, and subscription fees for its membership program. The company also provides restaurant delivery, video streaming, and fintech services, leveraging its end-to-end fulfillment and logistics network to connect merchants with consumers.
Products & services
E-commerce retail, restaurant delivery (Coupang Eats), video streaming (Coupang Play), fintech services (Coupang Pay), and luxury fashion marketplace (Farfetch).
Brands & revenue mix
Coupang
Core e-commerce and retail brand.
Separate brand revenue is not available in this research.Source
Coupang Eats
Restaurant delivery service.
Separate brand revenue is not available in this research.Source
Coupang Play
Video streaming service.
Separate brand revenue is not available in this research.Source
Farfetch
Luxury fashion marketplace.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS turned negative at -0.32 versus 0.02 a year earlier.
Separate recurring operating losses from noncash or one-time charges, and check cash flow rather than interpreting negative EPS as a cash-outflow amount.
Quarterly net income turned from a profit to a loss versus the same quarter last year.
Identify the causes in the interim report and distinguish operating cash use from accounting charges. Prior profitability is not a guarantee of recovery.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
33
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
55
Fair
Financial Strength
46
Business Quality / Moat
73
Management
60
Growth Quality
43
Risk / Durability
45
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
29
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
42/100
Building Historical Record
Model Score 42/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for CPNG
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can CPNG maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is CPNG's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Does CPNG's balance between cash and debt leave enough flexibility if business conditions weaken?
•What specifically needs to improve for CPNG to reach sustainable profitability?
•What future growth or profitability would be needed to justify CPNG's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CPNG
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on CPNG.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+End-to-end fulfillment and logistics network.
+Direct sourcing capabilities.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Specialty Retail industry.
−Operational risks associated with logistics and fulfillment infrastructure.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak33/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Weak
46
Debt Cost1.9%
Debt Reduction YoY-24.4%
Debt / Equity1.00x
Tap for breakdown →
Revenue
Poor
32
Revenue YoY2.7%
Revenue CAGR19.0%
Net Margin-2.2%
Tap for breakdown →
Asset
Fair
56
Asset Growth YoY15.9%
Liquidation/Share$1.61
Net Assets/MCap0.47x
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Capital
Poor
3
Earnings Yield-3.1%
Buyback Yield0.4%
Debt Cost1.9%
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Management
Fair
60
ROIC13.2%
ROE-25.7%
ROA-4.4%
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Moat
Strong
73
EPS Growth28.2%
FCF/Share Growth-49.0%
Rev/Share Growth20.9%
Tap for breakdown →
Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Weak
46
Revenue32
Moat73
Valuation0
Tap for breakdown →
MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
Tap for breakdown →
Financial
Poor
35
Interest Coverage5.5x
ROIC13.2%
FCF Yield2.1%
Tap for breakdown →
Master
Poor
27
Financial35
Valuation0
Debt46
Tap for breakdown →
Resilience
Weak
44
Survival Years0.7 yrs
Current Ratio1.04x
FCF Margin1.5%
Tap for breakdown →
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Score Changes
6 historical score records available
Previous Score
32
Sep 17, 2026
Change
+0.1
points
Current Score
33
Oct 1, 2026
Category Changes
Revenue+0.5
Debt0
Assets+0.6
Capital0
Management0
Moat0
Valuation0
Buffett+0.2
CPNG increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
23
Projected Change
-9.2 points
Preliminary comparable-period financial changes suggest decline of approximately 9.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$14.30
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
Revenue
$35.46B
$34.53B
$30.27B
$24.38B
····
····
····
····
····
Cost of Revenue
$25.41B
$24.39B
$21.44B
$18.19B
····
····
····
····
····
Gross Profit
$10.05B
$10.14B
$8.83B
$6.19B
····
····
····
····
····
Research & Development
$0.00
$0.00
$0.00
$0.00
····
····
····
····
····
SG&A Expenses
$10.68B
$9.67B
$8.39B
$5.72B
····
····
····
····
····
Operating Expenses
$10.68B
$9.67B
$8.39B
$5.72B
····
····
····
····
····
EBITDA
$32.0M
$1.20B
$1.05B
$907.0M
····
····
····
····
····
Operating Income
-$628.0M
$473.0M
$436.0M
$473.0M
····
····
····
····
····
Interest Expense
$76.0M
$86.0M
$140.0M
$48.0M
····
····
····
····
····
Income Before Tax
-$601.0M
$597.0M
$473.0M
$584.0M
····
····
····
····
····
Income Tax Expense
$166.0M
$383.0M
$407.0M
-$776.0M
····
····
····
····
····
Net Income
-$767.0M
$208.0M
$154.0M
$1.36B
····
····
····
····
····
Basic EPS
$-0.43
$0.11
$0.09
$0.76
····
····
····
····
····
Basic Shares
1.80B
1.82B
1.79B
1.78B
····
····
····
····
····
Diluted Shares
1.80B
1.85B
1.83B
1.80B
····
····
····
····
····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
Margins contracted
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included revenue growth. Pressure indicators included EPS growth, cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 3.9%. EPS declined 1960.5%. Cash declined 10.1%. Total debt increased 23.0%. Net income margin declined by 6.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
The reliability percentage measures the strength of the supporting evidence—not the probability that the event will occur or that the stock will rise. Rumor Mill is separate from the WSS score.
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