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Side-by-side financial comparison of Coupang, Inc. (CPNG) and HP Inc. (HPQ). Click either name above to swap in a different company.
HP Inc. is the larger business by last-quarter revenue ($14.6B vs $8.8B, roughly 1.7× Coupang, Inc.). HP Inc. runs the higher net margin — 5.4% vs -0.3%, a 5.7% gap on every dollar of revenue. On growth, Coupang, Inc. posted the faster year-over-year revenue change (10.9% vs 4.2%). HP Inc. produced more free cash flow last quarter ($1.4B vs $-278.0M). Over the past eight quarters, Coupang, Inc.'s revenue compounded faster (11.4% CAGR vs 5.4%).
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.
The Hewlett-Packard Company, commonly shortened to Hewlett-Packard or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California. Growing to become an influential high-tech powerhouse at the heart of Silicon Valley, the company was known for its progressive business philosophy, deemed the HP Way.
CPNG vs HPQ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.8B | $14.6B |
| Net Profit | $-26.0M | $795.0M |
| Gross Margin | 28.8% | 20.2% |
| Operating Margin | 0.1% | 6.6% |
| Net Margin | -0.3% | 5.4% |
| Revenue YoY | 10.9% | 4.2% |
| Net Profit YoY | -116.7% | -12.3% |
| EPS (diluted) | $-0.02 | $0.84 |
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.
| Q4 25 | $8.8B | $14.6B | ||
| Q3 25 | $9.3B | $13.9B | ||
| Q2 25 | $8.5B | $13.2B | ||
| Q1 25 | $7.9B | $13.5B | ||
| Q4 24 | $8.0B | $14.1B | ||
| Q3 24 | $7.9B | $13.5B | ||
| Q2 24 | $7.3B | $12.8B | ||
| Q1 24 | $7.1B | $13.2B |
| Q4 25 | $-26.0M | $795.0M | ||
| Q3 25 | $95.0M | $763.0M | ||
| Q2 25 | $32.0M | $406.0M | ||
| Q1 25 | $107.0M | $565.0M | ||
| Q4 24 | $156.0M | $906.0M | ||
| Q3 24 | $70.0M | $640.0M | ||
| Q2 24 | $-77.0M | $607.0M | ||
| Q1 24 | $5.0M | $622.0M |
| Q4 25 | 28.8% | 20.2% | ||
| Q3 25 | 29.4% | 20.5% | ||
| Q2 25 | 30.0% | 20.7% | ||
| Q1 25 | 29.3% | 21.0% | ||
| Q4 24 | 31.3% | 21.4% | ||
| Q3 24 | 28.8% | 21.5% | ||
| Q2 24 | 29.3% | 23.6% | ||
| Q1 24 | 27.1% | 21.9% |
| Q4 25 | 0.1% | 6.6% | ||
| Q3 25 | 1.7% | 5.1% | ||
| Q2 25 | 1.7% | 4.9% | ||
| Q1 25 | 1.9% | 6.3% | ||
| Q4 24 | 3.9% | 7.1% | ||
| Q3 24 | 1.4% | 7.0% | ||
| Q2 24 | -0.3% | 7.4% | ||
| Q1 24 | 0.6% | 7.1% |
| Q4 25 | -0.3% | 5.4% | ||
| Q3 25 | 1.0% | 5.5% | ||
| Q2 25 | 0.4% | 3.1% | ||
| Q1 25 | 1.4% | 4.2% | ||
| Q4 24 | 2.0% | 6.4% | ||
| Q3 24 | 0.9% | 4.7% | ||
| Q2 24 | -1.1% | 4.7% | ||
| Q1 24 | 0.1% | 4.7% |
| Q4 25 | $-0.02 | $0.84 | ||
| Q3 25 | $0.05 | $0.80 | ||
| Q2 25 | $0.02 | $0.42 | ||
| Q1 25 | $0.06 | $0.59 | ||
| Q4 24 | $0.08 | $0.93 | ||
| Q3 24 | $0.04 | $0.65 | ||
| Q2 24 | $-0.04 | $0.61 | ||
| Q1 24 | $0.00 | $0.62 |
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 | $3.7B |
| Total DebtLower is stronger | $648.0M | $9.7B |
| Stockholders' EquityBook value | $4.6B | $-346.0M |
| Total Assets | $17.8B | $41.8B |
| Debt / EquityLower = less leverage | 0.14× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.3B | $3.7B | ||
| Q3 25 | $7.2B | $2.9B | ||
| Q2 25 | $6.8B | $2.7B | ||
| Q1 25 | $6.1B | $2.9B | ||
| Q4 24 | $5.9B | $3.2B | ||
| Q3 24 | $5.8B | $2.8B | ||
| Q2 24 | $5.5B | $2.4B | ||
| Q1 24 | $5.2B | $2.3B |
| Q4 25 | $648.0M | $9.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $988.0M | $9.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $4.6B | $-346.0M | ||
| Q3 25 | $4.7B | $-901.0M | ||
| Q2 25 | $4.7B | $-1.3B | ||
| Q1 25 | $4.4B | $-1.1B | ||
| Q4 24 | $4.1B | $-1.3B | ||
| Q3 24 | $4.2B | $-1.4B | ||
| Q2 24 | $3.9B | $-916.0M | ||
| Q1 24 | $4.1B | $-1.6B |
| Q4 25 | $17.8B | $41.8B | ||
| Q3 25 | $18.7B | $39.9B | ||
| Q2 25 | $17.8B | $38.8B | ||
| Q1 25 | $16.0B | $38.9B | ||
| Q4 24 | $15.3B | $39.9B | ||
| Q3 24 | $16.3B | $38.1B | ||
| Q2 24 | $15.2B | $37.4B | ||
| Q1 24 | $14.9B | $35.8B |
| Q4 25 | 0.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.6B |
| Free Cash FlowOCF − Capex | $-278.0M | $1.4B |
| FCF MarginFCF / Revenue | -3.1% | 9.7% |
| Capex IntensityCapex / Revenue | 4.1% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 2.04× |
| TTM Free Cash FlowTrailing 4 quarters | $522.0M | $2.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $82.0M | $1.6B | ||
| Q3 25 | $792.0M | $1.7B | ||
| Q2 25 | $545.0M | $38.0M | ||
| Q1 25 | $354.0M | $374.0M | ||
| Q4 24 | $676.0M | $1.6B | ||
| Q3 24 | $334.0M | $1.4B | ||
| Q2 24 | $664.0M | $581.0M | ||
| Q1 24 | $212.0M | $121.0M |
| Q4 25 | $-278.0M | $1.4B | ||
| Q3 25 | $439.0M | $1.4B | ||
| Q2 25 | $246.0M | $-145.0M | ||
| Q1 25 | $115.0M | $72.0M | ||
| Q4 24 | $462.0M | $1.5B | ||
| Q3 24 | $-46.0M | $1.3B | ||
| Q2 24 | $486.0M | $462.0M | ||
| Q1 24 | $105.0M | $-37.0M |
| Q4 25 | -3.1% | 9.7% | ||
| Q3 25 | 4.7% | 10.4% | ||
| Q2 25 | 2.9% | -1.1% | ||
| Q1 25 | 1.5% | 0.5% | ||
| Q4 24 | 5.8% | 10.5% | ||
| Q3 24 | -0.6% | 9.3% | ||
| Q2 24 | 6.6% | 3.6% | ||
| Q1 24 | 1.5% | -0.3% |
| Q4 25 | 4.1% | 1.3% | ||
| Q3 25 | 3.8% | 1.5% | ||
| Q2 25 | 3.5% | 1.4% | ||
| Q1 25 | 3.0% | 2.2% | ||
| Q4 24 | 2.7% | 1.1% | ||
| Q3 24 | 4.8% | 1.2% | ||
| Q2 24 | 2.4% | 0.9% | ||
| Q1 24 | 1.5% | 1.2% |
| Q4 25 | — | 2.04× | ||
| Q3 25 | 8.34× | 2.18× | ||
| Q2 25 | 17.03× | 0.09× | ||
| Q1 25 | 3.31× | 0.66× | ||
| Q4 24 | 4.33× | 1.79× | ||
| Q3 24 | 4.77× | 2.23× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | 42.40× | 0.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CPNG
| Products | $6.6B | 75% |
| Third Party Merchant Services | $1.9B | 22% |
| Service Other | $296.0M | 3% |
HPQ
| Commercial PS | $7.0B | 48% |
| Consumer PS | $3.4B | 23% |
| Supplies | $2.8B | 19% |
| Commercial Printing | $1.2B | 8% |
| Consumer Printing | $296.0M | 2% |
| Corporate Investments | $19.0M | 0% |
