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Side-by-side financial comparison of American Express (AXP) and Coupang, Inc. (CPNG). Click either name above to swap in a different company.
Coupang, Inc. is the larger business by last-quarter revenue ($8.8B vs $18.9M, roughly 467.3× American Express). American Express runs the higher net margin — 15.7% vs -0.3%, a 16.0% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (11.4% vs 10.9%). Over the past eight quarters, Coupang, Inc.'s revenue compounded faster (11.4% CAGR vs -95.6%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
Coupang, Inc. is an American Delaware-incorporated technology and online retail company headquartered in Seattle, Washington. Founded in 2010 by Bom Kim, the company operates a retail business, food delivery service, and OTT streaming service, with offices and operations in South Korea, Taiwan, the United States, India, Japan and Singapore.
AXP vs CPNG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $8.8B |
| Net Profit | $3.0M | $-26.0M |
| Gross Margin | — | 28.8% |
| Operating Margin | — | 0.1% |
| Net Margin | 15.7% | -0.3% |
| Revenue YoY | 11.4% | 10.9% |
| Net Profit YoY | 15.0% | -116.7% |
| EPS (diluted) | — | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $18.9M | — | ||
| Q4 25 | $10.9B | $8.8B | ||
| Q3 25 | $10.4B | $9.3B | ||
| Q2 25 | $10.3B | $8.5B | ||
| Q1 25 | $9.6B | $7.9B | ||
| Q4 24 | $10.0B | $8.0B | ||
| Q3 24 | $9.7B | $7.9B | ||
| Q2 24 | $9.8B | $7.3B |
| Q1 26 | $3.0M | — | ||
| Q4 25 | $2.5B | $-26.0M | ||
| Q3 25 | $2.9B | $95.0M | ||
| Q2 25 | $2.9B | $32.0M | ||
| Q1 25 | $2.6B | $107.0M | ||
| Q4 24 | $2.2B | $156.0M | ||
| Q3 24 | $2.5B | $70.0M | ||
| Q2 24 | $3.0B | $-77.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 28.8% | ||
| Q3 25 | — | 29.4% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 29.3% | ||
| Q4 24 | — | 31.3% | ||
| Q3 24 | — | 28.8% | ||
| Q2 24 | — | 29.3% |
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 0.1% | ||
| Q3 25 | 36.7% | 1.7% | ||
| Q2 25 | 34.4% | 1.7% | ||
| Q1 25 | 34.6% | 1.9% | ||
| Q4 24 | 27.7% | 3.9% | ||
| Q3 24 | 33.0% | 1.4% | ||
| Q2 24 | 38.6% | -0.3% |
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | -0.3% | ||
| Q3 25 | 27.9% | 1.0% | ||
| Q2 25 | 28.0% | 0.4% | ||
| Q1 25 | 26.8% | 1.4% | ||
| Q4 24 | 21.8% | 2.0% | ||
| Q3 24 | 25.8% | 0.9% | ||
| Q2 24 | 30.7% | -1.1% |
| Q1 26 | — | — | ||
| Q4 25 | $3.52 | $-0.02 | ||
| Q3 25 | $4.14 | $0.05 | ||
| Q2 25 | $4.08 | $0.02 | ||
| Q1 25 | $3.64 | $0.06 | ||
| Q4 24 | $3.04 | $0.08 | ||
| Q3 24 | $3.49 | $0.04 | ||
| Q2 24 | $4.15 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $6.3B |
| Total DebtLower is stronger | $60.4M | $648.0M |
| Stockholders' EquityBook value | $34.0M | $4.6B |
| Total Assets | $308.9M | $17.8B |
| Debt / EquityLower = less leverage | 1.78× | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $6.3B | ||
| Q3 25 | $1.3B | $7.2B | ||
| Q2 25 | $197.0M | $6.8B | ||
| Q1 25 | $261.0M | $6.1B | ||
| Q4 24 | $221.0M | $5.9B | ||
| Q3 24 | $120.0M | $5.8B | ||
| Q2 24 | $188.0M | $5.5B |
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $648.0M | ||
| Q3 25 | $57.8B | — | ||
| Q2 25 | $58.2B | — | ||
| Q1 25 | $51.2B | — | ||
| Q4 24 | $49.7B | $988.0M | ||
| Q3 24 | $53.5B | — | ||
| Q2 24 | $51.5B | — |
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $4.6B | ||
| Q3 25 | $32.4B | $4.7B | ||
| Q2 25 | $32.3B | $4.7B | ||
| Q1 25 | $31.2B | $4.4B | ||
| Q4 24 | $30.3B | $4.1B | ||
| Q3 24 | $29.7B | $4.2B | ||
| Q2 24 | $29.5B | $3.9B |
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $17.8B | ||
| Q3 25 | $297.6B | $18.7B | ||
| Q2 25 | $295.6B | $17.8B | ||
| Q1 25 | $282.2B | $16.0B | ||
| Q4 24 | $271.5B | $15.3B | ||
| Q3 24 | $271.0B | $16.3B | ||
| Q2 24 | $272.2B | $15.2B |
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 0.14× | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.64× | 0.24× | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 1.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $82.0M |
| Free Cash FlowOCF − Capex | — | $-278.0M |
| FCF MarginFCF / Revenue | — | -3.1% |
| Capex IntensityCapex / Revenue | — | 4.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $522.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $82.0M | ||
| Q3 25 | $6.2B | $792.0M | ||
| Q2 25 | $4.4B | $545.0M | ||
| Q1 25 | $4.8B | $354.0M | ||
| Q4 24 | $5.8B | $676.0M | ||
| Q3 24 | $-1.8B | $334.0M | ||
| Q2 24 | $4.5B | $664.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $-278.0M | ||
| Q3 25 | $5.6B | $439.0M | ||
| Q2 25 | $3.7B | $246.0M | ||
| Q1 25 | $4.3B | $115.0M | ||
| Q4 24 | $5.3B | $462.0M | ||
| Q3 24 | $-2.3B | $-46.0M | ||
| Q2 24 | $4.0B | $486.0M |
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | -3.1% | ||
| Q3 25 | 53.6% | 4.7% | ||
| Q2 25 | 36.3% | 2.9% | ||
| Q1 25 | 45.0% | 1.5% | ||
| Q4 24 | 53.1% | 5.8% | ||
| Q3 24 | -23.3% | -0.6% | ||
| Q2 24 | 40.4% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 4.1% | ||
| Q3 25 | 6.3% | 3.8% | ||
| Q2 25 | 6.0% | 3.5% | ||
| Q1 25 | 4.5% | 3.0% | ||
| Q4 24 | 5.0% | 2.7% | ||
| Q3 24 | 4.7% | 4.8% | ||
| Q2 24 | 5.8% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | — | ||
| Q3 25 | 2.15× | 8.34× | ||
| Q2 25 | 1.51× | 17.03× | ||
| Q1 25 | 1.84× | 3.31× | ||
| Q4 24 | 2.66× | 4.33× | ||
| Q3 24 | -0.72× | 4.77× | ||
| Q2 24 | 1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
| Discount revenue | $9.5M | 50% |
| Other | $8.9M | 47% |
| Deposits with banks and other | $512.0K | 3% |
CPNG
| Products | $6.6B | 75% |
| Third Party Merchant Services | $1.9B | 22% |
| Service Other | $296.0M | 3% |
