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Coupang Overview
About Coupang
Coupang is South Korea’s largest e-commerce platform that sells both owned and third-party inventory. Headquartered in the US, Coupang operates e-commerce businesses mainly in South Korea and Taiwan. The company has built an integrated logistics network that covers the entirety of South Korea, with extensive fulfillment centers that ensure timely delivery, even for orders placed seconds before midnight. Outside of its bread-and-butter e-commerce business, Coupang has expanded into Rocket delivery services to third-party merchants (fulfillment and logistics by Coupang), online grocery delivery Rocket Fresh, online meal delivery (Eats), e-commerce in Taiwan, luxury e-commerce (Farfetch), and travel.
Founded
2010
HQ
Employees
95.0K
Website
Financials (LTM)
EV
$38B
Coupang Financials
Coupang reported last 12-month revenue of $36B and EBITDA of $1B.
In the same LTM period, Coupang generated $11B in gross profit, $1B in EBITDA, and $196M in net income.
Revenue (LTM)
Coupang P&L
In the most recent fiscal year, Coupang reported revenue of $35B and EBITDA of $1B.
Coupang expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $36B | XXX | $35B | XXX | XXX | XXX |
| Gross Profit | $11B | XXX | $10B | XXX | XXX | XXX |
| Gross Margin | 30% | XXX | 29% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 4% | XXX | XXX | XXX |
| EBIT Margin | 1% | XXX | 1% | XXX | XXX | XXX |
| Net Profit | $196M | XXX | $208M | XXX | XXX | XXX |
| Net Margin | 1% | XXX | 1% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Coupang Stock Performance
Coupang has current market cap of $39B, and enterprise value of $38B.
Market Cap Evolution
Coupang's stock price is $21.55.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $38B | $39B | 0.0% | XXX | XXX | XXX | $0.11 |
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Start Free TrialCoupang Valuation Multiples
Coupang trades at 1.1x EV/Revenue multiple, and 25.7x EV/EBITDA.
EV / Revenue (LTM)
Coupang Financial Valuation Multiples
As of April 19, 2026, Coupang has market cap of $39B and EV of $38B.
Equity research analysts estimate Coupang's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Coupang has a P/E ratio of 200.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $39B | XXX | $39B | XXX | XXX | XXX |
| EV (current) | $38B | XXX | $38B | XXX | XXX | XXX |
| EV/Revenue | 1.1x | XXX | 1.1x | XXX | XXX | XXX |
| EV/EBITDA | 25.7x | XXX | 25.4x | XXX | XXX | XXX |
| EV/EBIT | 92.4x | XXX | 79.7x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 3.7x | XXX | XXX | XXX |
| P/E | 200.5x | XXX | 189.4x | XXX | XXX | XXX |
| EV/FCF | 54.8x | XXX | 50.5x | XXX | XXX | XXX |
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Verified Coupang Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Coupang Margins & Growth Rates
Coupang's revenue in the last 12 month grew by 11%.
Coupang's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Coupang's rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Coupang's rule of X is 30% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Coupang Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 11% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Margin | 4% | XXX | 4% | XXX | XXX | XXX |
| EBITDA Growth | 16% | XXX | (4%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 14% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 30% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 28% | XXX | 28% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 28% | XXX | XXX | XXX |
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Coupang Public Comps
See public comps and valuation multiples for other Consumer E-commerce and Horizontal E-commerce comps.
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Coupang M&A Activity
Coupang acquired XXX companies to date.
Last acquisition by Coupang was on XXXXXXXX, XXXXX. Coupang acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Coupang
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialCoupang Investment Activity
Coupang invested in XXX companies to date.
Coupang made its latest investment on XXXXXXXX, XXXXX. Coupang invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Coupang
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Coupang
| When was Coupang founded? | Coupang was founded in 2010. |
| Where is Coupang headquartered? | Coupang is headquartered in South Korea. |
| How many employees does Coupang have? | As of today, Coupang has over 95K employees. |
| Who is the CEO of Coupang? | Coupang's CEO is Bom Suk Kim. |
| Is Coupang publicly listed? | Yes, Coupang is a public company listed on NYSE. |
| What is the stock symbol of Coupang? | Coupang trades under CPNG ticker. |
| When did Coupang go public? | Coupang went public in 2021. |
| Who are competitors of Coupang? | Coupang main competitors are JD.com, Sea, Carvana, NAVER. |
| What is the current market cap of Coupang? | Coupang's current market cap is $39B. |
| What is the current revenue of Coupang? | Coupang's last 12 months revenue is $36B. |
| What is the current revenue growth of Coupang? | Coupang revenue growth (NTM/LTM) is 11%. |
| What is the current EV/Revenue multiple of Coupang? | Current revenue multiple of Coupang is 1.1x. |
| Is Coupang profitable? | Yes, Coupang is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Coupang? | Coupang's last 12 months EBITDA is $1B. |
| What is Coupang's EBITDA margin? | Coupang's last 12 months EBITDA margin is 4%. |
| What is the current EV/EBITDA multiple of Coupang? | Current EBITDA multiple of Coupang is 25.7x. |
| What is the current FCF of Coupang? | Coupang's last 12 months FCF is $688M. |
| What is Coupang's FCF margin? | Coupang's last 12 months FCF margin is 2%. |
| What is the current EV/FCF multiple of Coupang? | Current FCF multiple of Coupang is 54.8x. |
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