Coupang, Inc.CPNGEarnings & Financial Report
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.
CPNG Q4 2025 Key Financial Metrics
売上高
$8.8B
粗利益
$2.5B
営業利益
$8.0M
純利益
$-26.0M
粗利益率
28.8%
営業利益率
0.1%
純利益率
-0.3%
前年比成長
10.9%
EPS
$-0.02
資金フロー
Coupang, Inc. Q4 2025 Financial Summary
Coupang, Inc. reported revenue of $8.8B (up 10.9% YoY) for Q4 2025, with a net profit of $-26.0M (down 116.7% YoY) (-0.3% margin). Cost of goods sold was $6.3B, operating expenses totaled $2.5B.
Key Financial Metrics
| Total Revenue | $8.8B |
|---|---|
| Net Profit | $-26.0M |
| Gross Margin | 28.8% |
| Operating Margin | 0.1% |
| Report Period | Q4 2025 |
Revenue Breakdown
Coupang, Inc. Q4 2025 revenue of $8.8B breaks down across 3 segments, led by Products at $6.6B (75.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $6.6B | 75.1% |
| Third Party Merchant Services | $1.9B | 21.5% |
| Service Other | $296.0M | 3.4% |
Coupang, Inc. Revenue by Segment — Quarterly Trend
Coupang, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Third Party Merchant Services) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Products | $6.6B | $7.1B | $6.5B | $6.1B |
| Third Party Merchant Services | $1.9B | $1.9B | $1.8B | $1.6B |
| Service Other | $296.0M | $293.0M | $262.0M | $258.0M |
Coupang, Inc. Annual Revenue by Year
Coupang, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $34.5B). Click any linked year to see what changed vs the prior 10-K.
Coupang, Inc. Quarterly Revenue & Net Profit History
Coupang, Inc. quarterly results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $8.8B | +10.9% | $-26.0M | -0.3% |
| Q3 2025 | $9.3B | +17.8% | $95.0M | 1.0% |
| Q2 2025 | $8.5B | +16.4% | $32.0M | 0.4% |
| Q1 2025 | $7.9B | +11.2% | $107.0M | 1.4% |
| Q4 2024 | $8.0B | +21.4% | $156.0M | 2.0% |
| Q3 2024 | $7.9B | +27.2% | $70.0M | 0.9% |
| Q2 2024 | $7.3B | +25.4% | $-77.0M | -1.1% |
| Q1 2024 | $7.1B | +22.6% | $5.0M | 0.1% |
損益計算書
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 売上高 | $7.11B | $7.32B | $7.87B | $7.96B | $7.91B | $8.52B | $9.27B | $8.84B |
| 前年比成長 | 22.6% | 25.4% | 27.2% | 21.4% | 11.2% | 16.4% | 17.8% | 10.9% |
貸借対照表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 総資産 | $14.95B | $15.20B | $16.34B | $15.34B | $15.99B | $17.83B | $18.67B | $17.79B |
| 総負債 | $10.75B | $11.25B | $12.06B | $11.17B | $11.59B | $13.15B | $13.93B | $13.16B |
| 株主資本 | $4.08B | $3.85B | $4.19B | $4.10B | $4.37B | $4.68B | $4.74B | $4.62B |
キャッシュフロー
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 営業CF | $212.0M | $664.0M | $334.0M | $676.0M | $354.0M | $545.0M | $792.0M | $82.0M |