Coupang, Inc. (CPNG) Stock Analysis

Analysis from 10-Q filed 2025-11-04. Data as of Q1 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC 0.6%. FCF margin 0.8%. D/E 0.6x. Source: 10-Q filed 2025-11-04.

Metric	Value	Context
ROIC	0.6%	Below expectations
FCF Margin	0.8%	Cash flow pressure
Debt/Equity	0.6x	Moderate leverage

ROIC 0.6% — Bottom 50% of sector peers. FCF margin 0.8% — 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.

---

Profitability: Coupang, Inc. earns 0.6% ROIC, Bottom 50% in Consumer Discretionary

ROIC TTM 0.6%, sector median 7.7%, Bottom 50%. DuPont: NOPAT margin 0.1% × asset turnover 2.0x. Gross margin 28.8%. Operating margin 0.2%. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Return on Invested Capital (ROIC)	0.6%	Red flag	Below sector median of 7.7%
Return on Equity (ROE)	-4.2%	Red flag	Moderate equity returns
Gross Margin	28.8%	Adequate	Competitive pricing environment
Operating Margin	0.2%	Warning	Moderate operational efficiency

---

Cash Flow: Coupang, Inc. generates $295.0M FCF at 0.8% margin, positive NaN/8 quarters

FCF TTM $295.0M. FCF margin 0.8%, Bottom 50%. OCF/Net income -9.7x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Free Cash Flow Margin	0.8%	Warning	Thin cash margins
Free Cash Flow (TTM)	$295.0M	Good	Positive cash generation
OCF/Net Income	-9.7x	Warning	Potential accrual concerns
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

---

Balance Sheet: Coupang, Inc. at 0.6x leverage

Debt/Equity 0.6x. Net cash $4.0B. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Debt to Equity	0.6x	Good	Moderate leverage
Net Cash Position	$4.0B	Excellent	Net cash positive

---

Valuation: Coupang, Inc. trades at -208.5x earnings

P/E -208.5x. EV/Sales 0.8x. FCF yield 0.9%. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
P/E Ratio	-208.5x	Red flag	Reasonable valuation
EV/Sales	0.8x	Excellent	Attractive revenue multiple
FCF Yield	0.9%	Warning	Lower cash yield

---

Capital Allocation: Coupang, Inc. returns 1.8% shareholder yield

Total shareholder yield 1.8% (buyback 1.8%). Capital returned $634.0M TTM. Source: 10-Q filed 2025-11-04.

Metric	CPNG	Rating	Context
Total Shareholder Yield	1.8%	Adequate	Dividend + buyback yield combined
Buyback Yield	1.8%	Adequate	Minimal buyback activity
Total Capital Returned (TTM)	$634.0M	Good	Dividends + buybacks returned to shareholders

---

Sector Rankings

Metric	Value	Percentile	vs Median
Return on Invested Capital (ROIC)	0.6%	Bottom 50%	0.1x below
Free Cash Flow Margin	0.8%	Bottom 50%	0.4x below
Gross Margin	28.8%	Bottom 50%	0.7x below
Operating Margin	0.2%	Bottom 50%	0.1x below
Return on Equity (ROE)	-4.2%	Bottom 50%	-0.4x below

---

Financial Scorecard

Metric	CPNG	Rating	Sector Context
Return on Invested Capital (ROIC)	0.6%	Red flag	Bottom 50% of sector (median: 7.7%)
Free Cash Flow Margin	0.8%	Warning	Bottom 50% of sector (median: 2.2%)
Gross Margin	28.8%	Adequate	Bottom 50% of sector (median: 38.7%)
Debt to Equity Ratio	58.2%	Good	Moderate leverage
Free Cash Flow Yield	0.9%	Red flag	Growth-focused valuation

---

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 0.6%. Sector median 7.7%. 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 0.8%, generating $295.0 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 -208.5x, which is above the sector median of N/A. EV/Sales 0.8x. FCF yield 0.9%. 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 0.6x with total debt of $2.3 billion. Net cash position $4.0 billion. Source: 10-Q filed 2025-11-04.

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

Coupang, Inc. (CPNG) grew revenue by 13.1% year-over-year. Source: 10-Q filed 2025-11-04.

Q: Is Coupang, Inc. buying back stock?

Coupang, Inc. (CPNG) repurchased $634.0 million of stock over the trailing twelve months. This represents a buyback yield of 1.8%. 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 0.6%, sector median 7.7% (Bottom 50%). FCF margin 0.8%, sector median 2.2% (Bottom 50%). Gross margin 28.8%, 9.9pp 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 0.8% (below 5%); 2) ROIC declining -11.1% over 8 quarters. Source: 10-Q filed 2025-11-04.

---

Data Source: Data sourced from 10-Q filed 2025-11-04. TTM metrics as of Q1 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.