# Coupang, Inc. (CPNG) — Stock CV

Coupang, Inc. is a $28.3B consumer company. Revenue grew 9.9% over the last year, it currently loses money, and it holds more cash than debt.

> 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.

## Identity

- **Ticker**: CPNG
- **Sector**: Consumer Cyclical
- **Industry**: Retail-Catalog & Mail-Order Houses
- **Headquarters**: SEATTLE, WA
- **Employees**: 108 000
- **Website**: https://www.aboutcoupang.com
- **Market cap**: $28.3B
- **Last price**: $15.76
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $35.5B
- **Net income**: -$767M
- **Free cash flow**: $99.0M
- **Net cash**: $4.71B
- **P/E**: 136.7
- **Revenue growth (YoY)**: 9.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 42 |
| Growth | 20 |
| Profitability | 0 |
| Health | 41 |
| Quality | 65 |
| Moat | 16 |

## Qualifications (beginner checklist) — 5 of 10 passed

- [x] Revenue growing — +9.9% YoY
- [ ] Profitable — -$767M TTM
- [x] Profit growing — +35.1% YoY
- [x] Generates cash — $99.0M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $28.3B market cap
- [ ] Not printing shares — +30.3% shares over ~5y
- [ ] Proven track record — 3/5 profitable years
- [ ] Financially stable — Altman Z 1.5 — distress
- [ ] Valuation not extreme — P/E 136.7

## Experience (career milestones)

- **FY2023** — Turned profitable: $1.36B net income after a loss year
- **FY2023** — Best year on record: $1.36B net income
- **FY2021** — Revenue already above $10B: $18.4B in first reported year

## Strengths

- Net cash position after subtracting debt from cash

## Watch-outs

- Not profitable — 2.2% net margin
- Altman Z-Score 1.55 — elevated financial-distress risk
- Thin interest coverage (-37.9×)
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $18.4B | -$1.54B | -$1.08B |
| FY2022 | $20.6B | -$92.0M | -$259M |
| FY2023 | $24.4B | $1.36B | $1.76B |
| FY2024 | $30.3B | $154M | $1.01B |
| FY2025 | $34.5B | $208M | $522M |

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Source: https://stockcv.com/CPNG — derived from company filings; may be delayed or incomplete. Information, not investment advice.