CPNG financial statements

The full income statement, balance sheet, and cash-flow statement for Coupang Inc. (CPNG), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 1.79B2024-09 1.80B2024-12 1.81B2025-03 1.82B2025-06 1.82B2025-09 1.83B2025-12 1.83B2026-03 1.80B2026-06 1.80B+0.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	34.5B YoY+14.1%	30.3B YoY+24.1%	24.4B YoY+18.5%	20.6B YoY+11.8%	18.4B YoY+53.8%
	10.1B YoY+14.8%	8.83B YoY+42.7%	6.19B YoY+31.4%	4.71B	—
Cost of revenue	24.4B YoY+13.8%	21.4B YoY+17.8%	18.2B YoY+14.6%	15.9B YoY+2.7%	15.5B YoY+54.8%
Selling, general & administrative	9.67B YoY+15.2%	8.39B YoY+46.8%	5.72B YoY+18.6%	4.82B YoY+8.5%	4.45B YoY+77.6%
General & administrative	9.67B YoY+15.2%	8.39B YoY+46.8%	5.72B YoY+18.6%	4.82B YoY+8.5%	4.45B YoY+77.6%
Amortization of intangibles	50.0M YoY-21.9%	64.0M YoY+1500.0%	4.00M YoY+100.0%	2.00M	—
Operating income	473M YoY+8.5%	436M YoY-7.8%	473M YoY+522.3%	-112M YoY+92.5%	-1.49B YoY-189.5%
Interest expense	86.0M YoY-38.6%	140M YoY+191.7%	48.0M YoY+77.8%	27.0M YoY-40.0%	45.0M YoY-58.2%
Interest & investment income	199M YoY-7.9%	216M YoY+21.3%	178M YoY+235.8%	53.0M YoY+488.9%	9.00M
Other non-operating income	11.0M YoY+128.2%	-39.0M YoY-105.3%	-19.0M YoY-171.4%	-7.00M YoY+41.7%	-12.0M YoY-108.0%
Pre-tax income	597M YoY+26.2%	473M YoY-19.0%	584M YoY+728.0%	-93.0M YoY+94.0%	-1.54B YoY-233.1%
Income tax	383M YoY-5.9%	407M YoY+152.4%	-776M YoY-77500.0%	-1.00M YoY-200.0%	1.00M YoY+242.5%
	208M YoY+35.1%	154M YoY-88.7%	1.36B YoY+1578.3%	-92.0M YoY+94.0%	-1.54B YoY-233.1%
Net income to non-controlling interest	6.00M YoY+106.8%	-88.0M	0.00	0.00	—
Preferred dividends	—	—	—	0.00	0.00 YoY-100.0%
Net income to common	—	—	—	-92.0M YoY+94.0%	-1.54B YoY-177.5%
	$0.11 YoY+37.5%	$0.08 YoY-89.3%	$0.75 YoY+1600.0%	-$0.05 YoY+95.4%	-$1.08 YoY+94.4%
EPS (basic)	$0.11 YoY+22.2%	$0.09 YoY-88.2%	$0.76 YoY+1620.0%	-$0.05 YoY+95.4%	-$1.08 YoY+94.4%
	1.82B YoY+1.3%	1.79B YoY+0.7%	1.78B YoY+1.0%	1.76B YoY+23.9%	1.42B YoY+4808.3%
	1.85B YoY+1.6%	1.83B YoY+1.3%	1.80B YoY+2.2%	1.76B YoY+23.9%	1.42B YoY+4808.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.69B YoY+7.7%	8.99B YoY+14.0%	7.89B YoY+35.4%	5.83B YoY+3.4%	5.64B YoY+98.4%
Cash & equivalents	6.32B YoY+7.5%	5.88B YoY+12.1%	5.24B YoY+49.4%	3.51B YoY+0.6%	3.49B YoY+178.7%
Accounts receivable	363M YoY-10.8%	407M YoY+29.6%	314M YoY+390.6%	64.0M YoY-28.9%	90.0M YoY+650.0%
Inventory	2.26B YoY+7.5%	2.10B YoY+26.0%	1.67B YoY+0.5%	1.66B YoY+16.6%	1.42B YoY+22.4%
Prepaid expenses	660M YoY+44.1%	458M YoY+44.9%	316M YoY+4.2%	303M	—
Other current assets	—	—	—	303M YoY+30.4%	232M YoY+9.7%
	17.8B YoY+15.9%	15.3B YoY+15.0%	13.3B YoY+40.3%	9.51B YoY+10.1%	8.64B YoY+70.5%
Property, plant & equipment	3.72B YoY+32.3%	2.81B YoY+14.1%	2.46B YoY+35.4%	1.82B YoY+35.1%	1.35B YoY+32.4%
Operating lease right-of-use	2.77B YoY+37.2%	2.02B YoY+25.9%	1.60B YoY+14.0%	1.41B YoY+2.2%	1.37B YoY+35.9%
Goodwill	—	—	—	—	9.74M YoY+129.3%
Intangible assets	190M YoY-29.9%	271M YoY+632.4%	37.0M	—	—
Deferred tax assets	596M YoY-4.2%	622M YoY-32.8%	925M YoY+2212.5%	40.0M	—
	9.36B YoY+21.3%	7.72B YoY+11.1%	6.95B YoY+37.2%	5.06B YoY+6.7%	4.74B YoY+27.1%
Accounts payable	6.30B YoY+13.4%	5.55B YoY+8.9%	5.10B YoY+40.8%	3.62B YoY+5.2%	3.44B YoY+18.4%
Accrued liabilities	515M YoY+11.7%	461M YoY+31.0%	352M YoY+17.7%	299M YoY-1.7%	304M YoY+163.2%
Deferred revenue	188M YoY+33.3%	141M YoY+45.4%	97.0M YoY+5.4%	92.0M YoY-2.1%	94.0M YoY+44.0%
Short-term & current debt	0.00 YoY-100.0%	66.0M YoY-67.5%	203M YoY+57.4%	129M YoY-62.2%	342M YoY+405.7%
Current lease liability	545M YoY+29.1%	422M YoY+9.3%	386M YoY+18.4%	326M YoY+13.6%	287M YoY+38.5%
Other current liabilities	851M YoY+43.5%	593M YoY+12.7%	526M YoY+25.2%	420M YoY+57.5%	267M YoY+25.5%
	13.2B YoY+17.9%	11.2B YoY+20.8%	9.24B YoY+30.2%	7.10B YoY+9.8%	6.47B YoY+14.0%
Long-term debt	648M YoY-34.4%	988M YoY+86.8%	529M YoY-1.7%	538M YoY+90.0%	283M YoY-19.9%
Non-current lease liability	2.48B YoY+40.2%	1.77B YoY+27.6%	1.39B YoY+12.4%	1.23B YoY+2.7%	1.20B YoY+39.8%
Operating lease liability (total)	3.03B YoY+38.1%	2.19B YoY+23.6%	1.77B YoY+13.7%	1.56B YoY+4.8%	1.49B
	4.62B YoY+12.7%	4.10B YoY+0.3%	4.09B YoY+69.4%	2.41B YoY+10.9%	2.18B YoY+153.5%
Common stock	0.00	0.00	0.00	0.00 YoY-100.0%	175K
Additional paid-in capital	9.03B YoY+3.3%	8.74B YoY+2.9%	8.49B YoY+4.1%	8.15B YoY+3.6%	7.87B YoY+31350.9%
Retained earnings	-4.02B YoY+4.9%	-4.23B YoY+3.5%	-4.38B YoY+23.7%	-5.74B YoY-1.6%	-5.65B YoY-37.6%
Accumulated other comprehensive income	-381M YoY+5.7%	-404M YoY-2276.5%	-17.0M YoY-666.7%	3.00M YoY+106.3%	-47.7M YoY-53.5%
Non-controlling interest	0.00 YoY+100.0%	-1.00M	0.00	—	—
Total equity incl. non-controlling	4.62B YoY+12.7%	4.10B YoY+0.3%	4.09B YoY+69.4%	2.41B YoY+10.9%	2.18B
Total liabilities & equity	17.8B YoY+15.9%	15.3B YoY+15.0%	13.3B YoY+40.3%	9.51B YoY+10.1%	8.64B YoY+70.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.77B YoY-6.0%	1.89B YoY-28.9%	2.65B YoY+369.4%	565M YoY+237.5%	-411M YoY-236.3%
Depreciation & amortization	517M YoY+19.4%	433M YoY+57.5%	275M YoY+19.0%	231M YoY+14.9%	201M YoY+57.6%
Intangible amortization	50.0M YoY-21.9%	64.0M YoY+1500.0%	4.00M YoY+100.0%	2.00M	—
Share-based compensation	475M YoY+9.7%	433M YoY+32.8%	326M YoY+24.4%	262M YoY+5.2%	249M YoY+694.7%
Deferred income taxes	37.0M YoY-83.6%	225M YoY+125.5%	-884M YoY-2110.0%	-40.0M	0.00
Change in receivables	-37.0M YoY+82.3%	-209M YoY-257.1%	133M YoY+291.2%	34.0M YoY-71.7%	120M YoY+2682.9%
Change in inventory	233M YoY-38.0%	376M YoY+754.5%	44.0M YoY-88.0%	367M YoY-30.5%	528M YoY+4.7%
Change in payables	515M YoY+1.6%	507M YoY-66.5%	1.51B YoY+241.0%	444M YoY-39.0%	728M YoY-31.7%
	-1.25B YoY-53.1%	-819M YoY+11.7%	-927M YoY-9.3%	-848M YoY-25.4%	-676M YoY-29.8%
Capital expenditure	1.25B YoY+42.3%	879M YoY-1.9%	896M YoY+8.7%	824M YoY+22.3%	674M YoY+39.1%
Free cash flow	522M YoY-48.2%	1.01B YoY-42.7%	1.76B YoY+778.0%	-259M YoY+76.1%	-1.08B YoY-492.7%
Acquisitions	0.00 YoY+100.0%	-68.0M	0.00	0.00	0.00
Proceeds from sale of PP&E	5.00M YoY-44.4%	9.00M YoY-52.6%	19.0M YoY+46.2%	13.0M YoY+550.0%	2.00M YoY+294.5%
Other investing activities	8.00M YoY-52.9%	17.0M YoY-66.0%	50.0M YoY+35.1%	37.0M YoY+825.0%	4.00M YoY-89.1%
	-247M YoY-258.0%	-69.0M YoY-134.7%	199M YoY-19.4%	247M YoY-93.1%	3.58B YoY+1903.9%
Long-term debt issued	2.90B YoY+238.4%	857M YoY+49.8%	572M YoY+9.3%	524M YoY+28.0%	409M YoY+187.6%
Long-term debt repaid	0.00	0.00	0.00 YoY-100.0%	446M YoY+163.2%	170M YoY+382.6%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	243M YoY+36.5%	178M	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	-28.0M YoY-166.7%	42.0M YoY+320.0%	10.0M YoY+300.0%	-5.00M YoY-150.0%	-2.00M YoY-7.9%
FX effect on cash	109M YoY+119.3%	-564M YoY-3928.6%	-14.0M YoY+83.9%	-87.0M YoY-7.4%	-81.0M YoY-215.1%
Net change in cash	381M YoY-12.2%	434M YoY-77.3%	1.91B YoY+1652.8%	-123M YoY-105.1%	2.41B YoY+7992.9%
Interest paid	65.0M YoY-23.5%	85.0M YoY+174.2%	31.0M YoY+63.2%	19.0M YoY-9.5%	21.0M YoY-11.2%
Income taxes paid	177M YoY+28.3%	138M YoY+25.5%	110M YoY+1733.3%	6.00M YoY+100.0%	3.00M YoY+250.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	43.9B YoY+3.6%	42.4B YoY+44.8%	29.3B YoY+11.1%	26.3B YoY-48.9%	51.6B
P/E	211.1× YoY-23.3%	275.2× YoY+303.4%	68.2×	—	—
P/S	1.3× YoY-9.2%	1.4× YoY+10.7%	1.3× YoY-2.4%	1.3× YoY-53.8%	2.8×
P/B	9.5× YoY-8.1%	10.3× YoY+3.4%	10.0× YoY-17.6%	12.1× YoY-48.8%	23.7×
P/FCF	84.1× YoY+99.8%	42.1× YoY+164.5%	15.9×	—	—
	0.47% YoY+30.4%	0.36% YoY-75.2%	1.5%	—	—
	1.2% YoY-50.0%	2.4% YoY-62.2%	6.3%	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: CPNG's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CPNG filings on SEC EDGAR → Not investment advice.