Coupang, Inc. (CPNG) Stock Analysis

Analysis from 10-Q filed 2025-11-04. Data as of Q2 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC -11.7%. FCF margin 0.3%. D/E 0.9x. Source: 10-Q filed 2025-11-04.

Metric	Value	Context
ROIC	-11.7%	Below expectations
FCF Margin	0.3%	Cash flow pressure
Debt/Equity	0.9x	Moderate leverage

ROIC -11.7% — Top 5% of sector peers. FCF margin 0.3% — Bottom 50%.

Explore Coupang, Inc.: Earnings History | Filings

Programmatic access: Available via MCP at mcp.metricduck.com. Tools for CPNG: get_company_overview, get_filing_index (lens: debt_stress, management_outlook, risk_trajectory), get_filing_changes, get_metric_history, compare_companies, screen_filing_signals.

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Profitability: Coupang, Inc. earns -11.7% ROIC, Top 5% in Consumer Discretionary

ROIC TTM -11.7%, sector median 6.9%, Top 5%. DuPont: NOPAT margin -2.2% × asset turnover 2.0x. Gross margin 28.4%. Operating margin -1.8%. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Return on Invested Capital (ROIC)	-11.7%	Red flag	Below sector median of 6.9%
Return on Equity (ROE)	-17.9%	Red flag	Moderate equity returns
Gross Margin	28.4%	Adequate	Competitive pricing environment
Operating Margin	-1.8%	Warning	Moderate operational efficiency

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Cash Flow: Coupang, Inc. generates $99.0M FCF at 0.3% margin, positive NaN/8 quarters

FCF TTM $99.0M. FCF margin 0.3%, Bottom 50%. OCF/Net income -1.9x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Free Cash Flow Margin	0.3%	Warning	Thin cash margins
Free Cash Flow (TTM)	$99.0M	Good	Positive cash generation
OCF/Net Income	-1.9x	Warning	Potential accrual concerns
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

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Balance Sheet: Coupang, Inc. at 0.9x leverage

Debt/Equity 0.9x. Net cash $3.5B. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Debt to Equity	0.9x	Adequate	Moderate leverage
Net Cash Position	$3.5B	Excellent	Net cash positive

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Valuation: Coupang, Inc. trades at -41.1x earnings

P/E -41.1x. EV/Sales 1.1x. FCF yield 0.3%. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
P/E Ratio	-41.1x	Red flag	Reasonable valuation
EV/Sales	1.1x	Excellent	Attractive revenue multiple
FCF Yield	0.3%	Warning	Lower cash yield

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Capital Allocation: Coupang, Inc. returns 3.5% shareholder yield

Total shareholder yield 3.5% (buyback 3.5%). Capital returned $1.1B TTM. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Total Shareholder Yield	3.5%	Good	Dividend + buyback yield combined
Buyback Yield	3.5%	Good	Active share repurchases
Total Capital Returned (TTM)	$1.1B	Good	Dividends + buybacks returned to shareholders

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Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	-11.7%	Top 5%	-1.7x below
Free Cash Flow Margin	0.3%	Bottom 50%	0.1x below
Gross Margin	28.4%	Bottom 50%	0.7x below
Operating Margin	-1.8%	Bottom 50%	-0.4x below
Return on Equity (ROE)	-17.9%	Top 5%	-1.6x below

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Financial Scorecard

Metric	CPNG	Rating	Sector Context
Return on Invested Capital (ROIC)	-11.7%	Red flag	Top 5% of sector (median: 6.9%)
Free Cash Flow Margin	0.3%	Warning	Bottom 50% of sector (median: 2.5%)
Gross Margin	28.4%	Adequate	Bottom 50% of sector (median: 38.7%)
Debt to Equity Ratio	87.1%	Adequate	Elevated but manageable
Free Cash Flow Yield	0.3%	Red flag	Growth-focused valuation

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Frequently Asked Questions

Q: What is Coupang, Inc.'s Return on Invested Capital (ROIC)?

Coupang, Inc. (CPNG) has a trailing twelve-month Return on Invested Capital (ROIC) of -11.7%. Sector median 6.9%. Source: 10-Q filed 2025-11-04.

Q: What is Coupang, Inc.'s Free Cash Flow Margin?

Coupang, Inc. (CPNG) has a free cash flow margin of 0.3%, generating $99.0 million in free cash flow over the trailing twelve months. Source: 10-Q filed 2025-11-04.

Q: What is Coupang, Inc.'s P/E ratio and how does it compare to peers?

Coupang, Inc. (CPNG) trades at a P/E ratio of -41.1x, which is above the sector median of N/A. EV/Sales 1.1x. FCF yield 0.3%. Source: 10-Q filed 2025-11-04.

Q: How much debt does Coupang, Inc. have?

Coupang, Inc. (CPNG) has a debt-to-equity ratio of 0.9x with total debt of $2.6 billion. Net cash position $3.5 billion. Source: 10-Q filed 2025-11-04.

Q: What is Coupang, Inc.'s revenue and earnings growth?

Coupang, Inc. (CPNG) grew revenue by 9.9% year-over-year. Source: 10-Q filed 2025-11-04.

Q: Is Coupang, Inc. buying back stock?

Coupang, Inc. (CPNG) repurchased $1.1 billion of stock over the trailing twelve months. This represents a buyback yield of 3.5%. Source: 10-Q filed 2025-11-04.

Q: How does Coupang, Inc. compare to competitors in Consumer Discretionary?

Compared to other companies in Consumer Discretionary, Coupang, Inc. (CPNG) shows: ROIC -11.7%, sector median 6.9% (Top 5%). FCF margin 0.3%, sector median 2.5% (Bottom 50%). Gross margin 28.4%, 10.4pp below sector median. These rankings are based on MetricDuck's analysis of all Consumer Discretionary companies with available SEC filings.

Q: What warning signs should I watch for with Coupang, Inc.?

Quantitative warning flags for Coupang, Inc. (CPNG): 1) FCF margin 0.3% (below 5%); 2) ROIC declining -37.3% over 8 quarters. Source: 10-Q filed 2025-11-04.

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Data Source: Data sourced from 10-Q filed 2025-11-04. TTM metrics as of Q2 2026.

Methodology: Financial metrics calculated from SEC 10-K and 10-Q filings using standardized formulas. Sector comparisons use peer group based on SIC code.

Scope: This analysis covers SEC filing fundamentals — profitability, cash flow, balance sheet, and valuation metrics. For analyst estimates and price targets, consult sell-side research.

This analysis is for informational purposes only and does not constitute investment advice.