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Side-by-side financial comparison of Coupang, Inc. (CPNG) and Leidos (LDOS). Click either name above to swap in a different company.
Coupang, Inc. is the larger business by last-quarter revenue ($8.5B vs $4.4B, roughly 1.9× Leidos). On growth, Coupang, Inc. posted the faster year-over-year revenue change (7.5% vs 3.7%). Over the past eight quarters, Coupang, Inc.'s revenue compounded faster (7.8% CAGR vs 3.5%).
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.
Leidos Holdings, Inc. is an American defense, aviation, information technology, and biomedical research company headquartered in Reston, Virginia, that provides scientific, engineering, systems integration, and technical services. Founded as Science Applications International Corporation (SAIC), Leidos merged with Lockheed Martin's IT sector, Information Systems & Global Solutions, in August 2016 to create the defense industry’s largest IT services provider.
CPNG vs LDOS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $8.5B | $4.4B |
| Net Profit | — | $335.0M |
| Gross Margin | 27.0% | 17.3% |
| Operating Margin | — | 11.5% |
| Net Margin | — | 7.6% |
| Revenue YoY | 7.5% | 3.7% |
| Net Profit YoY | — | -8.2% |
| EPS (diluted) | $-0.15 | $2.56 |
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 | $8.5B | $4.2B | ||
| Q4 25 | $8.8B | $4.4B | ||
| Q3 25 | $9.3B | $4.2B | ||
| Q2 25 | $8.5B | $4.2B | ||
| Q1 25 | $7.9B | $4.3B | ||
| Q4 24 | $8.0B | — | ||
| Q3 24 | $7.9B | $4.2B | ||
| Q2 24 | $7.3B | $4.1B |
| Q1 26 | — | $327.0M | ||
| Q4 25 | $-26.0M | $367.0M | ||
| Q3 25 | $95.0M | $391.0M | ||
| Q2 25 | $32.0M | $363.0M | ||
| Q1 25 | $107.0M | $284.0M | ||
| Q4 24 | $156.0M | — | ||
| Q3 24 | $70.0M | $364.0M | ||
| Q2 24 | $-77.0M | $322.0M |
| Q1 26 | 27.0% | 17.4% | ||
| Q4 25 | 28.8% | 18.0% | ||
| Q3 25 | 29.4% | 18.0% | ||
| Q2 25 | 30.0% | 17.5% | ||
| Q1 25 | 29.3% | 15.6% | ||
| Q4 24 | 31.3% | — | ||
| Q3 24 | 28.8% | 17.8% | ||
| Q2 24 | 29.3% | 16.6% |
| Q1 26 | — | 11.3% | ||
| Q4 25 | 0.1% | 12.0% | ||
| Q3 25 | 1.7% | 13.5% | ||
| Q2 25 | 1.7% | 12.5% | ||
| Q1 25 | 1.9% | 9.7% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 1.4% | 12.4% | ||
| Q2 24 | -0.3% | 11.6% |
| Q1 26 | — | 7.8% | ||
| Q4 25 | -0.3% | 8.2% | ||
| Q3 25 | 1.0% | 9.2% | ||
| Q2 25 | 0.4% | 8.6% | ||
| Q1 25 | 1.4% | 6.5% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 0.9% | 8.7% | ||
| Q2 24 | -1.1% | 7.8% |
| Q1 26 | $-0.15 | $2.54 | ||
| Q4 25 | $-0.02 | $2.82 | ||
| Q3 25 | $0.05 | $3.01 | ||
| Q2 25 | $0.02 | $2.77 | ||
| Q1 25 | $0.06 | $2.10 | ||
| Q4 24 | $0.08 | — | ||
| Q3 24 | $0.04 | $2.68 | ||
| Q2 24 | $-0.04 | $2.37 |
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 | $457.0M |
| Total DebtLower is stronger | $2.3B | $6.0B |
| Stockholders' EquityBook value | $3.9B | $5.1B |
| Total Assets | $17.4B | $15.4B |
| Debt / EquityLower = less leverage | 0.58× | 1.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $6.3B | $1.1B | ||
| Q4 25 | $6.3B | $974.0M | ||
| Q3 25 | $7.2B | $930.0M | ||
| Q2 25 | $6.8B | $842.0M | ||
| Q1 25 | $6.1B | $943.0M | ||
| Q4 24 | $5.9B | — | ||
| Q3 24 | $5.8B | $1.2B | ||
| Q2 24 | $5.5B | $823.0M |
| Q1 26 | $2.3B | $4.6B | ||
| Q4 25 | $648.0M | $4.6B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | $988.0M | — | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B |
| Q1 26 | $3.9B | $4.9B | ||
| Q4 25 | $4.6B | $4.9B | ||
| Q3 25 | $4.7B | $4.7B | ||
| Q2 25 | $4.7B | $4.3B | ||
| Q1 25 | $4.4B | $4.4B | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.2B | $4.6B | ||
| Q2 24 | $3.9B | $4.5B |
| Q1 26 | $17.4B | $13.5B | ||
| Q4 25 | $17.8B | $13.5B | ||
| Q3 25 | $18.7B | $13.5B | ||
| Q2 25 | $17.8B | $13.2B | ||
| Q1 25 | $16.0B | $13.1B | ||
| Q4 24 | $15.3B | — | ||
| Q3 24 | $16.3B | $13.3B | ||
| Q2 24 | $15.2B | $12.9B |
| Q1 26 | 0.58× | 0.94× | ||
| Q4 25 | 0.14× | 0.94× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | — | 0.92× | ||
| Q4 24 | 0.24× | — | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.92× |
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 | $184.0M | $301.0M |
| Free Cash FlowOCF − Capex | $-110.0M | — |
| FCF MarginFCF / Revenue | -1.3% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.90× |
| TTM Free Cash FlowTrailing 4 quarters | $297.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $184.0M | $495.0M | ||
| Q4 25 | $82.0M | — | ||
| Q3 25 | $792.0M | $711.0M | ||
| Q2 25 | $545.0M | $58.0M | ||
| Q1 25 | $354.0M | $299.0M | ||
| Q4 24 | $676.0M | — | ||
| Q3 24 | $334.0M | $656.0M | ||
| Q2 24 | $664.0M | $374.0M |
| Q1 26 | $-110.0M | $452.0M | ||
| Q4 25 | $-278.0M | — | ||
| Q3 25 | $439.0M | $680.0M | ||
| Q2 25 | $246.0M | $36.0M | ||
| Q1 25 | $115.0M | $213.0M | ||
| Q4 24 | $462.0M | — | ||
| Q3 24 | $-46.0M | $633.0M | ||
| Q2 24 | $486.0M | $351.0M |
| Q1 26 | -1.3% | 10.8% | ||
| Q4 25 | -3.1% | — | ||
| Q3 25 | 4.7% | 16.1% | ||
| Q2 25 | 2.9% | 0.9% | ||
| Q1 25 | 1.5% | 4.9% | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | -0.6% | 15.2% | ||
| Q2 24 | 6.6% | 8.5% |
| Q1 26 | — | 1.0% | ||
| Q4 25 | 4.1% | — | ||
| Q3 25 | 3.8% | 0.7% | ||
| Q2 25 | 3.5% | 0.5% | ||
| Q1 25 | 3.0% | 2.0% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 4.8% | 0.6% | ||
| Q2 24 | 2.4% | 0.6% |
| Q1 26 | — | 1.51× | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.34× | 1.82× | ||
| Q2 25 | 17.03× | 0.16× | ||
| Q1 25 | 3.31× | 1.05× | ||
| Q4 24 | 4.33× | — | ||
| Q3 24 | 4.77× | 1.80× | ||
| Q2 24 | — | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
