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Side-by-side financial comparison of Coupang, Inc. (CPNG) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
Coupang, Inc. is the larger business by last-quarter revenue ($8.8B vs $6.6B, roughly 1.3× REINSURANCE GROUP OF AMERICA INC). REINSURANCE GROUP OF AMERICA INC runs the higher net margin — 7.0% vs -0.3%, a 7.3% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 10.9%). Over the past eight quarters, Coupang, Inc.'s revenue compounded faster (11.4% CAGR vs 2.3%).
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.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
CPNG vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.8B | $6.6B |
| Net Profit | $-26.0M | $463.0M |
| Gross Margin | 28.8% | — |
| Operating Margin | 0.1% | 7.7% |
| Net Margin | -0.3% | 7.0% |
| Revenue YoY | 10.9% | 26.6% |
| Net Profit YoY | -116.7% | 212.8% |
| EPS (diluted) | $-0.02 | $6.91 |
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 | $6.6B | ||
| Q3 25 | $9.3B | $6.2B | ||
| Q2 25 | $8.5B | $5.6B | ||
| Q1 25 | $7.9B | $5.3B | ||
| Q4 24 | $8.0B | $5.2B | ||
| Q3 24 | $7.9B | $5.7B | ||
| Q2 24 | $7.3B | $4.9B | ||
| Q1 24 | $7.1B | $6.3B |
| Q4 25 | $-26.0M | $463.0M | ||
| Q3 25 | $95.0M | $253.0M | ||
| Q2 25 | $32.0M | $180.0M | ||
| Q1 25 | $107.0M | $286.0M | ||
| Q4 24 | $156.0M | $148.0M | ||
| Q3 24 | $70.0M | $156.0M | ||
| Q2 24 | $-77.0M | $203.0M | ||
| Q1 24 | $5.0M | $210.0M |
| 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 24 | 27.1% | — |
| Q4 25 | 0.1% | 7.7% | ||
| Q3 25 | 1.7% | 5.2% | ||
| Q2 25 | 1.7% | 6.1% | ||
| Q1 25 | 1.9% | 7.0% | ||
| Q4 24 | 3.9% | 4.3% | ||
| Q3 24 | 1.4% | 3.8% | ||
| Q2 24 | -0.3% | 5.5% | ||
| Q1 24 | 0.6% | 4.3% |
| Q4 25 | -0.3% | 7.0% | ||
| Q3 25 | 1.0% | 4.1% | ||
| Q2 25 | 0.4% | 3.2% | ||
| Q1 25 | 1.4% | 5.4% | ||
| Q4 24 | 2.0% | 2.8% | ||
| Q3 24 | 0.9% | 2.8% | ||
| Q2 24 | -1.1% | 4.2% | ||
| Q1 24 | 0.1% | 3.3% |
| Q4 25 | $-0.02 | $6.91 | ||
| Q3 25 | $0.05 | $3.81 | ||
| Q2 25 | $0.02 | $2.70 | ||
| Q1 25 | $0.06 | $4.27 | ||
| Q4 24 | $0.08 | $2.21 | ||
| Q3 24 | $0.04 | $2.33 | ||
| Q2 24 | $-0.04 | $3.03 | ||
| Q1 24 | $0.00 | $3.16 |
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 | $4.2B |
| Total DebtLower is stronger | $648.0M | $5.7B |
| Stockholders' EquityBook value | $4.6B | $13.5B |
| Total Assets | $17.8B | $156.6B |
| Debt / EquityLower = less leverage | 0.14× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.3B | $4.2B | ||
| Q3 25 | $7.2B | $4.6B | ||
| Q2 25 | $6.8B | $5.4B | ||
| Q1 25 | $6.1B | $5.2B | ||
| Q4 24 | $5.9B | $3.3B | ||
| Q3 24 | $5.8B | $5.2B | ||
| Q2 24 | $5.5B | $4.6B | ||
| Q1 24 | $5.2B | $5.9B |
| Q4 25 | $648.0M | $5.7B | ||
| Q3 25 | — | $5.7B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | $988.0M | $5.0B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | $4.6B | $13.5B | ||
| Q3 25 | $4.7B | $13.0B | ||
| Q2 25 | $4.7B | $12.1B | ||
| Q1 25 | $4.4B | $11.4B | ||
| Q4 24 | $4.1B | $10.8B | ||
| Q3 24 | $4.2B | $11.1B | ||
| Q2 24 | $3.9B | $9.7B | ||
| Q1 24 | $4.1B | $9.5B |
| Q4 25 | $17.8B | $156.6B | ||
| Q3 25 | $18.7B | $152.0B | ||
| Q2 25 | $17.8B | $133.5B | ||
| Q1 25 | $16.0B | $128.2B | ||
| Q4 24 | $15.3B | $118.7B | ||
| Q3 24 | $16.3B | $120.3B | ||
| Q2 24 | $15.2B | $109.9B | ||
| Q1 24 | $14.9B | $106.0B |
| Q4 25 | 0.14× | 0.42× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | 0.24× | 0.47× | ||
| Q3 24 | — | 0.46× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.47× |
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 | $7.3B |
| Free Cash FlowOCF − Capex | $-278.0M | — |
| FCF MarginFCF / Revenue | -3.1% | — |
| Capex IntensityCapex / Revenue | 4.1% | — |
| Cash ConversionOCF / Net Profit | — | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $522.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $82.0M | $7.3B | ||
| Q3 25 | $792.0M | $-990.0M | ||
| Q2 25 | $545.0M | $-820.0M | ||
| Q1 25 | $354.0M | $-1.4B | ||
| Q4 24 | $676.0M | $17.1B | ||
| Q3 24 | $334.0M | $-1.1B | ||
| Q2 24 | $664.0M | $-967.0M | ||
| Q1 24 | $212.0M | $-5.7B |
| Q4 25 | $-278.0M | — | ||
| Q3 25 | $439.0M | — | ||
| Q2 25 | $246.0M | — | ||
| Q1 25 | $115.0M | — | ||
| Q4 24 | $462.0M | — | ||
| Q3 24 | $-46.0M | — | ||
| Q2 24 | $486.0M | — | ||
| Q1 24 | $105.0M | — |
| Q4 25 | -3.1% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | 4.1% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 4.8% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | — | 15.83× | ||
| Q3 25 | 8.34× | -3.91× | ||
| Q2 25 | 17.03× | -4.56× | ||
| Q1 25 | 3.31× | -5.00× | ||
| Q4 24 | 4.33× | 115.81× | ||
| Q3 24 | 4.77× | -6.84× | ||
| Q2 24 | — | -4.76× | ||
| Q1 24 | 42.40× | -27.31× |
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% |
RGA
Segment breakdown not available.
