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
营收
$8.8B
毛利润
$2.5B
营业利润
$8.0M
净利润
$-26.0M
毛利率
28.8%
营业利润率
0.1%
净利率
-0.3%
同比增长
10.9%
EPS
$-0.02
资金流向
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% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $7.11B | $7.32B | $7.87B | $7.96B | $7.91B | $8.52B | $9.27B | $8.84B |
| 同比增长 | 22.6% | 25.4% | 27.2% | 21.4% | 11.2% | 16.4% | 17.8% | 10.9% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | $14.95B | $15.20B | $16.34B | $15.34B | $15.99B | $17.83B | $18.67B | $17.79B |
| 总负债 | $10.75B | $11.25B | $12.06B | $11.17B | $11.59B | $13.15B | $13.93B | $13.16B |
| 股东权益 | $4.08B | $3.85B | $4.19B | $4.10B | $4.37B | $4.68B | $4.74B | $4.62B |
现金流量表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 经营性现金流 | $212.0M | $664.0M | $334.0M | $676.0M | $354.0M | $545.0M | $792.0M | $82.0M |