CPNGCoupang, Inc.
Retail-Catalog & Mail-Order Houses
- Revenue
- $34.5B
- 14% YoY
- Operating margin
- 1.4%
- 4.9% YoY
- EBITDA
- $990M
- 14% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -5.5×
- −$5.5B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear852% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear14% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $18.4B | $20.6B | $24.4B | $30.3B | $34.5B | 14% |
| Operating income | −$1.5B | −$112M | $473M | $436M | $473M | 8.5% |
| Net income | −$1.5B | −$92M | $1.4B | $154M | $208M | 35% |
| Operating cash flow | −$411M | $565M | $2.7B | $1.9B | $1.8B | 6.0% |
| Capex | $674M | $824M | $896M | $879M | $1.3B | 42% |
| Stock-based comp | $249M | $262M | $326M | $433M | $475M | 9.7% |
| Buybacks | — | $0 | $0 | $178M | $243M | 37% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $75K · 1
- Net
- −$75K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $3M | $3M | 48 | 159 |
| FY2024 | $2M | $2M | 45 | 152 |
| FY2023 | $2M | $3M | 33 | 114 |
| FY2022 | $2M | −$50M | 30 | 80 |
| FY2021 | $2M | $684M | 60 | 122 |