Track market-moving stories before they get noisy

Airbnb: Cyclical Fluctuations in Quarterly RevenueAirbnb (ABNB -2.13%) manages a global digital lodging marketplace that operates by seamlessly connecting independent property hosts offering short-term private rooms, primary residences, and vacation homes with travelers seeking unique temporary stays and localized experiences.

Airbnb recently integrated its extensive inventory of property listings directly into the American Express travel booking system, and it introduced new social networking features alongside advanced artificial intelligence search tools.

Coupang: Steady Expansions in Quarterly RevenueCoupang (CPNG -0.64%) operates a diverse retail business that provides direct e-commerce shopping, specialized fresh grocery delivery, online video streaming, luxury fashion marketplaces, financial technology activities, and rapid restaurant food ordering services to its international customer base.

It established new product distribution agreements with several American food and sports nutrition exporters to bring foreign goods into South Korea, while navigating an ongoing regulatory review conducted by the Korea Fair Trade Commission regarding a number of concerns, including shifting discount costs to suppliers.

Why Revenue Matters for InvestorsRevenue gives investors a comprehensive look at the total amount of capital flowing directly into the company from all of its global sales activities before any operating expenses, overhead costs, or corporate taxes are subtracted. This metric reveals whether an organization is successfully attracting customers and growing its overall business volume over time.

Airbnb vs. Coupang Revenue over the last 8 quarters.

Quarterly Revenue for Airbnb and CoupangCalendar quarterAirbnb RevenueCoupang RevenueQ3 2024$3.7 billion (quarter ended Sept. 30, 2024)$7.9 billion (quarter ended Sept. 30, 2024)Q4 2024$2.5 billion (quarter ended Dec. 31, 2024)$8.0 billion (quarter ended Dec. 31, 2024)Q1 2025$2.3 billion (quarter ended March 31, 2025)$7.9 billion (quarter ended March 31, 2025)Q2 2025$3.1 billion (quarter ended June 30, 2025)$8.5 billion (quarter ended June 30, 2025)Q3 2025$4.1 billion (quarter ended Sept. 30, 2025)$9.3 billion (quarter ended Sept. 30, 2025)Q4 2025$2.8 billion (quarter ended Dec. 31, 2025)$8.8 billion (quarter ended Dec. 31, 2025)Q1 2026$2.7 billion (quarter ended March 31, 2026)$8.5 billion (quarter ended March 31, 2026)Q2 2026$3.6 billion (quarter ended June 30, 2026)$8.9 billion (quarter ended June 30, 2026)Data source: Financial Modeling Prep. Data as of Oct. 22, 2026.

Foolish TakeAirbnb experiences seasonal sales fluctuations typical of the travel industry. The summer months are popular for travelers, and so, the company's revenue tends to spike in the third quarter. Even so, Airbnb has maintained consistent year-over-year sales growth, demonstrating it remains a top lodging provider.

As an e-commerce site, Coupang's revenue has been steadier than Airbnb's, but its sales trend reveals that could be changing. In 2025, the company suffered a massive data breach that came to light in November of that year. This put a stain on its reputation, and the South Korean government fined Coupang over $400 million in that country's largest data breach penalty.

South Korea represents Coupang's primary source of sales, accounting for a reported 84% to 90% of income. Moreover, the South Korean government named Coupang's founder the de facto controlling entity of the company. This can ​subject it to stricter regulatory scrutiny.

These factors contributed to Coupang's sales growth declining sequentially over the past several quarters. For instance, in Q3 of 2025, revenue rose 18% year over year. That dropped to 11% in Q4 as the data breach was publicized. In Q1 of 2026, year-over-year sales growth slowed to 8%, then dropped to 4% in Q2. This suggests Coupang is struggling to gain customers, and it could be some time before it can recover from the data breach's damage to its reputation.

PLYMOUTH, Wis.--(BUSINESS WIRE)--Sartori Cheese, a fourth-generation artisanal cheesemaker, is reaching new customers across South Korea through its partnership with Coupang.

SEATTLE--(BUSINESS WIRE)--Coupang, Inc. (NYSE: CPNG) will release its third quarter 2026 financial results on Tuesday, November 3, 2026. The release will be available after U.S. market close and an accompanying live webcast will begin at 2:30 PM PT/ 5:30 PM ET the same day.

The earnings release, presentation, and webcast will be available at the Coupang Investor Relations website, https://ir.aboutcoupang.com. Following the call, a replay and related transcript will be available at the same website.

About Coupang

Coupang is a technology and Fortune 150 company listed on the New York Stock Exchange (NYSE: CPNG) that provides retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Eats, Play, Rocket Now, and Farfetch. It operates in over 190 countries and territories around the world.

More News From Coupang

E-commerce in Asia presents a massive opportunity, yet choosing between established giants can be difficult. Investors are weighing Alibaba Group (BABA -0.25%) against Coupang (CPNG +2.05%) to see which stock offers better value today.

Alibaba operates a vast ecosystem of cloud and retail platforms across China and beyond. Coupang focuses on a vertically integrated model in South Korea, prioritizing lightning-fast delivery and a captive membership base. Both companies are navigating shifting consumer habits and regulatory environments, making their current valuations a focal point for retail investors.

The case for AlibabaAlibaba is a global technology powerhouse that focuses on cloud computing, artificial intelligence, and massive consumer marketplaces. It serves the domestic Chinese market through its Taobao and Tmall platforms, while AliExpress and Lazada handle its international retail operations. The company strategy involves leveraging its cloud infrastructure to provide sophisticated marketing and logistics tools to millions of independent merchants.

In the fiscal year ended March 31, 2026, revenue reached nearly $152.9 billion, representing growth of roughly 2.7% compared with the prior fiscal year. Net income for the period was approximately $15.5 billion, resulting in a net margin of about 10.1%. This profitability is supported by its P/S ratio of 1.7x, which measures the market price against sales over the past twelve months.

As of its March 2026 balance sheet, the debt-to-equity ratio is approximately 0.2x. This metric compares total debt to shareholder equity to help you understand how much the company relies on financing. The current ratio, which measures the ability to cover short-term liabilities, is roughly 1.3x, and the company reported negative free cash flow of nearly $7.6 billion, calculated as cash from operations minus capital expenditures.

The case for CoupangCoupang operates an end-to-end e-commerce network that includes retail, restaurant delivery, and video streaming services. Its business model relies heavily on the retention of members in its WOW membership program, who benefit from the company's proprietary dawn delivery service. The company is also expanding its international footprint and luxury offerings following its integration of Farfetch into its broader commerce ecosystem.

In the fiscal year ended Dec. 31, 2025, revenue reached approximately $34.5 billion, which was an increase of roughly 14.1% year over year. The company reported net income of close to $208 million for that period, resulting in a net margin of about 0.6%. This thin profitability suggests that the company is reinvesting heavily to capture market share among retail stocks in its core geographies.

As of its December 2025 balance sheet, the debt-to-equity ratio is approximately 1.0x. The current ratio is roughly 1.0x, and the company generated roughly $522 million in free cash flow, which is cash from operations minus capital expenditures. Note that stock-based compensation represented roughly 26.8% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonAlibaba faces significant regulatory uncertainty as government bodies continue to monitor the influence of large technology platforms. Competition is also intensifying from newer e-commerce rivals that have successfully targeted price-sensitive consumers in China. Additionally, geopolitical tensions can impact the company's international expansion plans and its ability to procure the advanced hardware needed for its cloud and AI divisions.

Coupang faces substantial regulatory pressure from the Korea Fair Trade Commission regarding its business practices and membership bundling. The company is currently contesting hundreds of billions of won in privacy-related fines and has dealt with unauthorized access to millions of customer accounts. Furthermore, it must defend its market share against deep-pocketed rivals like Amazon (AMZN +0.43%) as it expands into new categories and international territories.

Valuation comparisonAlibaba looks significantly cheaper on a multiple of earnings estimates, while Coupang carries a lower valuation relative to its sales over the past twelve months.

MetricAlibabaCoupangForward P/E16.9x47.6xP/S ratio1.7x0.8xValuation metrics include sourcing from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?I'd go with Alibaba, though this is not a stock for the faint of heart. BABA has fallen roughly 25% in 2026, weighed down by a significant profit drop driven by heavy AI infrastructure spending, a dilutive share sale, and a serious allegation from Anthropic that Alibaba-affiliated operators harvested its AI models without authorization. The Department of Defense has also designated Alibaba as a Chinese military company, adding another layer of uncertainty for U.S. investors. These are not trivial risks.

But Coupang's situation may be even harder to sit with. A record regulatory fine, ongoing perjury investigations, and shareholder lawsuits have pushed its stock down sharply, and the timeline to resolution is unclear.

Both stocks are carrying significant baggage, but I think Alibaba has a clearer path forward, bolstered by its AI cloud revenue growing at a strong double-digit rate and the stock trading at an attractive valuation. But that's assuming the risks don't escalate further. The next few quarters will tell investors a lot about whether Alibaba's AI investments are starting to pay off enough to justify holding through all the uncertainty.

Can high-growth platforms maintain their dominance as consumer habits shift globally? Many investors are deciding whether Coupang (CPNG -4.40%) or Uber Technologies (UBER -3.34%) offers a better long-term path for their money.

Coupang dominates the South Korean e-commerce market with its proprietary logistics network, while Uber facilitates global mobility and delivery across thousands of cities. Both companies leverage massive scale and proprietary data to capture consumer spending. Comparing them helps you determine which platform provides the most resilient growth profile in today's digital economy.

The case for CoupangCoupang operates a massive two-sided marketplace that connects millions of daily active customers with a vast network of suppliers and merchants. It builds deep loyalty through its WOW membership program and has recently integrated the luxury marketplace Farfetch to reach consumers in over 190 countries and regions. The company is making significant strides among retail stocks by investing heavily in automated logistics and its Pay processing service, which are integral to its transactional business.

In its latest annual report for FY 2025, revenue reached nearly $34.5 billion, which represents growth of approximately 14.1% over the prior year. The company reported net income of close to $208.0 million for the period, resulting in a net margin of roughly 0.6%. This performance shows continued revenue expansion even as the company navigates a transition following its 2025 data incident and its corresponding customer compensation program.

As of its December 2025 balance sheet, the debt-to-equity ratio was nearly 1.0x, and the current ratio, comparing current assets to current liabilities, was approximately 1.0x. Free cash flow for the year was close to $522.0 million, which is calculated as cash from operations minus capital expenditures. Note that stock-based compensation accounted for roughly 26.8% of operating cash flow, inflating reported cash generation because it is a non-cash expense added back.

The case for Uber TechnologiesUber Technologies operates a global platform that connects consumers with drivers and merchants for rides, delivery, and freight. In late 2026, it expanded its delivery capabilities by acquiring the catering platform ezCater for nearly $2.3 billion. The company also manages over 10 million active drivers and couriers while growing its Uber One subscription program to increase user frequency.

In its latest annual report for FY 2025, revenue reached nearly $52.0 billion, representing growth of roughly 18.3% from the previous year. The company reported net income of approximately $10.1 billion, resulting in a net margin of nearly 19.3%. This performance highlights the massive scale Uber has achieved across its 15,000 operating cities while maintaining record numbers of platform consumers.

As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 0.4x, indicating total debt relative to shareholders' equity. The current ratio, which compares current assets to current liabilities, is nearly 1.1x. Free cash flow for the period was close to $9.8 billion, representing cash from operations minus capital expenditures and the funds available for strategic investments.

Risk profile comparisonCoupang faces intense pressure from the Korea Fair Trade Commission and lawsuits following a 2025 data incident involving 33 million accounts. It also competes in an environment where Amazon (AMZN -1.50%) and local rivals fight for market share. Rapidly integrating Farfetch remains an operational challenge that could lead to financial impairment if synergies fail to materialize.

Uber Technologies deals with ongoing legal battles over how it classifies its drivers as independent contractors. It also faces competition from Lyft (LYFT -1.71%) in mobility and DoorDash (DASH -6.34%) in the delivery space. Furthermore, the company relies on strategic acquisitions from Delivery Hero (DLVHF +0.00%) and others to fuel growth, thereby increasing its long-term financial obligations.

Valuation comparisonUber is cheaper on Forward P/E, which uses future earnings estimates. Coupang's P/S ratio is lower, using sales over the past twelve months.

MetricCoupangUber TechnologiesForward P/E49.5x21.3xP/S ratio0.8x2.6xValuation metrics include those sourced from Financial Modeling Prep (FMP) and may differ from those of other data providers.

When comparing Coupang and Uber Technologies, investors should consider a few key factors. Let's have a look at them and see what that tells us about each stock.

First off, there's growth. Over the last three years, the two companies have recorded remarkably similar average growth rates. Uber has averaged 16.9% year-over-year revenue growth, while Coupang has averaged 17.1%. However, in recent quarters, the gap between the two has expanded. Uber's revenue growth is now 12.2%, while Coupang's is 3.9%. Therefore, Uber comes out slightly ahead in this category.

Another factor to consider is profitability. Here, the divide is clearer. Uber's current operating margin is 13.3%, while Coupang's is -1.8%. What's more, the gap has steadily widened over the last three years, with Uber becoming more and more profitable, while Coupang's margins have shrunk to the point that it recorded its first net losses in years.

Last, there's valuation. Let's use price-to-sales (P/S) since Coupang isn't producing consistent profits. Here, it's clear that Coupang stock is cheaper than Uber. Coupang's P/S ratio is only 0.8x, while Uber's is 2.6x. Of course, there are reasons for the difference. Namely, Uber has faster revenue growth and is consistently profitable.

In summary, Coupang and Uber are growth stocks that seem to be on different paths. Coupang is currently navigating tricky waters, as its margins have become compressed and its growth rate has slowed. Uber, meanwhile, can still claim double-digit revenue growth and steadily improving profitability. As a consequence, growth-seeking investors are likely to favor Uber over Coupang in a head-to-head matchup.

Coupang, Inc. (CPNG - Free Report) closed at $15.28 in the latest trading session, marking a -3.41% move from the prior day. This move lagged the S&P 500's daily loss of 0.06%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, lost 0.44%.

The company's shares have seen an increase of 4.63% over the last month, surpassing the Retail-Wholesale sector's gain of 1.66% and the S&P 500's gain of 2.36%.

Analysts and investors alike will be keeping a close eye on the performance of Coupang, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.23, indicating a 560% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $9.75 billion, reflecting a 5.16% rise from the equivalent quarter last year.

CPNG's full-year Zacks Consensus Estimates are calling for earnings of -$0.46 per share and revenue of $37.04 billion. These results would represent year-over-year changes of -483.33% and +7.25%, respectively.

Investors should also note any recent changes to analyst estimates for Coupang, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Coupang, Inc. currently has a Zacks Rank of #4 (Sell).

The Internet - Commerce industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 42% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Are you looking to add specialized e-commerce growth to your portfolio? Choosing between pet retail leader Chewy (CHWY +0.21%) and South Korean giant Coupang (CPNG +2.66%) depends on your geographic and niche preferences.

Chewy dominates the North American pet category through high-margin services and subscription loyalty, while Coupang operates a massive logistical network across Asia. Both companies are refining their profitability after years of expansion, making them frequent candidates for investors tracking the evolution of digital retail.

The case for ChewyChewy operates a specialized digital marketplace for pet parents, offering everything from food and supplies to medications. Its strategy focuses on dominating the pet category among retail stocks by providing a one-stop shop for customers. The company maintains roughly 4,000 brand partnerships and has expanded its footprint through its "Chewy Vet Care" clinics, which reached 18 locations in early 2026.

In FY 2025, revenue reached nearly $12.6 billion, representing growth of roughly 6.2% over the prior year. This steady climb in sales helped the company generate approximately $222.8 million in net income, representing a net margin of nearly 1.8%. While the company faced a slight decline in net margin from the previous year, it continues to focus on its "Autoship" subscription program to drive recurring revenue.

As of its February 2026 balance sheet, Chewy reported a debt-to-equity ratio of roughly 1.1x. The debt-to-equity ratio measures total debt relative to shareholders' equity, helping you understand how much a business relies on borrowed money. The company maintains a current ratio of close to 0.9x, which measures its ability to pay short-term liabilities with assets that can be converted to cash within a year. Free cash flow reached nearly $562.4 million, though note that stock-based compensation accounted for roughly 43.1% of operating cash flow, inflating reported cash generation.

The case for CoupangCoupang is the leading e-commerce provider in South Korea, known for its "Rocket Delivery" service, which often offers same-day or next-day shipping. Beyond general retail, the company has diversified into restaurant delivery, video streaming, and fintech services. Its WOW membership program is a central pillar of the business, driving engagement across its 24.7 million active product-commerce customers and its recently acquired luxury platform, Farfetch.

In FY 2025, Coupang reported revenue of roughly $34.5 billion, an increase of nearly 14.1% from the prior year. The company achieved a net income of approximately $208.0 million for the year, resulting in a net margin of roughly 0.6%. While this net margin remains slim, the company has successfully expanded its top-line sales while managing the integration of its international segments and luxury fashion acquisitions.

As of its December 2025 balance sheet, Coupang carries a debt-to-equity ratio of approximately 1.0x. It also maintains a current ratio of roughly 1.0x, indicating it has enough short-term assets to cover its immediate obligations. Free cash flow for the period was nearly $522.0 million. Note that stock-based compensation accounted for roughly 26.8% of operating cash flow, inflating reported cash generation, as this is a non-cash expense added back in the cash flow statement.

Risk profile comparisonChewy faces intense competition from Internet-based retailers and large omnichannel players like Amazon (AMZN +3.29%). The company is also dealing with operational risks associated with fulfillment center capacity and potential labor shortages. Furthermore, cybersecurity and data privacy risks remain a concern, especially as the company expands its health services through Vet Care clinics and integrates more AI-driven data tracking into its platform.

Coupang operates in a high-pressure regulatory environment in Korea, where it faces antitrust investigations and potential criminal liability for executives related to fair trade compliance. The company is also managing the fallout from a November 2025 data incident that involved unauthorized access to 33 million customer accounts. Additionally, the strategic integration of Farfetch poses financial strain, and geopolitical tensions in the region could impact consumer spending and economic stability.

Valuation comparisonChewy currently trades at a significantly lower forward earnings multiple than Coupang, though Coupang offers faster top-line revenue growth in the Asian market.

MetricChewyCoupangForward P/E23.3x46.3xP/S ratio0.6x0.8xValuation metrics include those sourced from Financial Modeling Prep (FMP) and may differ from those of other data providers.

When comparing Chewy and Coupang, investors should consider a few key factors. Let's have a look at them and see what that tells us about each stock.

To start, there's growth. While both companies have delivered solid revenue growth in recent years, Coupang has delivered faster growth. The company has averaged year-over-year growth of 16.9% for the last five years. Chewy, on the other hand, has averaged 10.2% growth. Yet, in recent quarters, Coupang's revenue growth has decelerated. In fact, in its most recent quarter, Coupang's revenue growth slipped to 3.9%, below Chewy's 7.3% growth.

Another factor to consider is each company's profitability. Neither company is a profit juggernaut. Over the last five years, Chewy's operating margin has averaged 0.7%, while Coupang's has been -0.4%. However, since late 2025, the gap between the two companies has widened. In their most recent quarters, Chewy reported an operating margin of 2.75%, while Coupang reported an operating margin of -1.77%. Therefore, Chewy has an edge in this category.

Last, there's valuation. Here, it's best to use price-to-sales (P/S) as profitability has not been a given for these two companies. Both stocks exhibit affordable P/S ratios. Chewy's is slightly lower at 0.6x, versus 0.8x for Coupang. That gives Chewy another slight edge.

To sum up, Chewy comes out ahead in most of the categories, including profitability and valuation. In fact, even on the growth variable, Chewy has overtaken Coupang in recent quarters. Therefore, while both stocks may hold some appeal for growth-oriented investors, Chewy wins the head-to-head matchup in my view.

Investors choosing between Coupang (CPNG +3.25%) and Shopify (SHOP +2.79%) face a choice between a dominant regional logistics powerhouse and a global leader in digital commerce infrastructure. Which is the better buy today?

Coupang serves millions of Korean customers with its integrated delivery network, while Shopify provides the software tools for merchants worldwide to sell online. While they both benefit from the shift to digital retail, their business models and geographic focuses differ significantly. This makes them unique plays for those interested in the future of shopping.

The case for CoupangCoupang manages an end-to-end logistics network in South Korea and Taiwan, providing services like Rocket Fresh and Coupang Play. The company serves a massive network of merchants and relies heavily on its proprietary Pay digital financial services for processing payments. As one of the largest retail stocks in Asia, it is issuing $1.2 billion in vouchers in 2026 following a major data breach incident.

In its 2025 fiscal year (FY), revenue reached $34.5 billion, representing revenue growth of 14.1% over the prior year. This growth helped the company achieve net income of $208.0 million for the year. Its net margin of 0.6% indicates that the business operates with very thin bottom-line profits relative to its total sales.

As of its December 2025 balance sheet, the company has a debt-to-equity ratio of 1.0x and a current ratio of 1.0x, meaning total debt equals equity and liquidity is balanced. Free cash flow (FCF), or the cash left after paying for capital expenditures, was $522.0 million in FY 2025. Note that stock-based compensation (SBC) represented 26.8% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

The case for ShopifyShopify provides the essential digital backbone for millions of businesses across more than 175 countries through its all-in-one software platform. The company generates revenue from subscription fees and merchant solutions, such as payment processing and shipping services, which allow brands to sell across multiple channels. Recently, it has shifted focus toward agentic commerce and providing enterprise-level tools to help larger brands scale their operations more efficiently.

In FY 2025, Shopify reported revenue of $11.6 billion, which was revenue growth of 30.1% year over year. The company generated net income of $1.2 billion for the period. Its net margin of 10.7% shows the profitability inherent in its software-based business model.

According to its December 2025 balance sheet, Shopify has a debt-to-equity ratio of zero and a current ratio of 6.0x. These metrics show the company carries no debt and has high liquidity to cover short-term liabilities. Free cash flow reached $2.0 billion in FY 2025, though stock-based compensation represented 22.1% of operating cash flow.

Risk profile comparisonCoupang faces scrutiny from Korean regulators and investigations into business practices like membership bundling. Data security remains a major concern after previous breaches led to significant remediation costs and criminal referrals. The company also faces competition from giants such as Amazon (AMZN +2.68%) as it expands its logistics footprint internationally.

Shopify faces high competitive pressure in a fragmented market where rivals can introduce new features or integrate competing platforms. It relies heavily on third-party cloud infrastructure and payment processors like Stripe to operate its core services. Economic downturns are a significant risk because many merchants are small businesses sensitive to changes in consumer spending.

Valuation comparisonShopify carries a much higher valuation premium than Coupang, reflecting its superior net margin and faster growth profile. The Forward P/E ratio compares the stock price to future earnings estimates to help gauge whether a stock is overvalued, while the P/S ratio measures the stock price against sales over the past twelve months.

MetricCoupangShopifyForward P/E69.4x88.4xP/S ratio0.8x16.2xValuation metrics include sourcing from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?While Coupang and Shopify both operate in the e-commerce sector, they possess very different business models. The former is a direct-to-consumer player primarily in South Korea, while the latter is a global platform that provides e-commerce solutions for merchants. Between the two, I chose to invest in Shopify.

Coupang's share price valuation is much lower than Shopify's, but that is justified. While its sales rose 14% year over year in 2025, that growth dropped to just 4% in the second quarter of 2026. The company suffered a data breach in November of 2025, and that has damaged the brand. Moreover, Coupang is not a profitable business, as it suffered a net loss of $570 million in Q2.

Shopify is an e-commerce powerhouse, as demonstrated by its 30% year-over-year revenue growth in 2025, which accelerated to 34% in Q2 of 2026. It's also profitable with Q2 net income of $1.5 billion, up from $906 million in the prior year. As a global company, it's not reliant on one country's economy, as is the case with Coupang. Also, as the tech engine behind small businesses selling online, Shopify is essential infrastructure for these merchants.

Coupang, Inc. (CPNG - Free Report) ended the recent trading session at $14.42, demonstrating a +1.55% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.45%.

The stock of company has fallen by 7.13% in the past month, lagging the Retail-Wholesale sector's loss of 4.5% and the S&P 500's gain of 0.84%.

Analysts and investors alike will be keeping a close eye on the performance of Coupang, Inc. in its upcoming earnings disclosure. In that report, analysts expect Coupang, Inc. to post earnings of -$0.23 per share. This would mark a year-over-year decline of 560%. In the meantime, our current consensus estimate forecasts the revenue to be $9.75 billion, indicating a 5.16% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.46 per share and a revenue of $37.04 billion, demonstrating changes of -483.33% and +7.25%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Coupang, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Coupang, Inc. is currently a Zacks Rank #4 (Sell).

The Internet - Commerce industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 193, positioning it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Coupang, Inc. (CPNG - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.

Shares of this company have returned -12.3% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Internet - Commerce industry, to which Coupang belongs, has lost 8.5% over this period. Now the key question is: Where could the stock be headed in the near term?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

For the current quarter, Coupang is expected to post a loss of $0.23 per share, indicating a change of -560% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

The consensus earnings estimate of -$0.46 for the current fiscal year indicates a year-over-year change of -483.3%. This estimate has remained unchanged over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $0.33 indicates a change of +170.1% from what Coupang is expected to report a year ago. Over the past month, the estimate has remained unchanged.

With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Coupang.

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Coupang, the consensus sales estimate of $9.75 billion for the current quarter points to a year-over-year change of +5.2%. The $37.04 billion and $42.56 billion estimates for the current and next fiscal years indicate changes of +7.2% and +14.9%, respectively.

Last Reported Results and Surprise HistoryCoupang reported revenues of $8.86 billion in the last reported quarter, representing a year-over-year change of +3.9%. EPS of -$0.09 for the same period compares with $0.02 a year ago.

Compared to the Zacks Consensus Estimate of $8.86 billion, the reported revenues represent a surprise of -0.07%. The EPS surprise was +65.38%.

Over the last four quarters, Coupang surpassed consensus EPS estimates three times. The company topped consensus revenue estimates just once over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Coupang is graded C on this front, indicating that it is trading at par with its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Coupang. However, its Zacks Rank #4 does suggest that it may underperform the broader market in the near term.

Investors seeking international growth often look to Alibaba Group (BABA -0.80%) and Coupang (CPNG +0.00%) as primary options. Both companies lead their respective markets, but they offer very different paths for long-term investors.

Alibaba is a mature technology conglomerate with a massive footprint across China and global cloud markets. Coupang is a high-growth logistics specialist focused on the South Korean consumer. This comparison explores which business model and valuation make more sense today.

The case for AlibabaAlibaba operates a vast ecosystem centered on its Taobao and Tmall platforms, which connect millions of merchants with consumers. The company also holds a significant position in the global cloud infrastructure market and provides artificial intelligence tools to enterprise clients. It remains a central figure among retail stocks by integrating international commerce through brands like Lazada and AliExpress. No single customer accounts for more than 10% of total revenue, which reduces concentration risks for the business.

In the fiscal year ended March 31, 2026, revenue reached nearly $152.7 billion, representing growth of roughly 2.7% compared with the prior fiscal year. The company reported net income of approximately $15.5 billion during this period. The net margin was close to 10.1%, which was a decrease from the 13.1% net margin reported in the previous year. This shift reflects ongoing investments in its cloud and AI initiatives to remain competitive.

As of its March 2026 balance sheet, Alibaba maintains a debt-to-equity ratio of nearly 0.2x. This ratio measures total debt against shareholder equity, and a lower value indicates a more conservative financial structure. Its current ratio is roughly 1.3x, meaning its current assets cover its short-term liabilities about 1.3 times. Free cash flow was negative $7.6 billion, which is the cash remaining after paying for operations and capital expenditures.

The case for CoupangCoupang has transformed the retail landscape in South Korea through its integrated fulfillment and logistics network. The company serves a broad base of suppliers and operates a membership program called WOW that includes food delivery and video streaming. It recently expanded its global reach by acquiring the luxury marketplace Farfetch and partnering with J.Q. Dickinson Salt-Works. This strategy relies on rapid delivery speeds and a high-density logistics network as primary competitive differentiators.

In the fiscal year ended Dec. 31, 2025, revenue reached close to $34.5 billion, a 14.1% increase year over year. The company reported net income of approximately $208.0 million for the year. This resulted in a net margin of roughly 0.6%, which was a slight improvement from the 0.5% net margin seen in the prior year. While its net margin remains thin, the consistent revenue growth highlights its expanding presence in the regional market.

As of its December 2025 balance sheet, Coupang has a debt-to-equity ratio of approximately 1.0x. Its current ratio stands at nearly 1.0x, indicating that current assets are roughly equal to current liabilities. Free cash flow for the period was roughly $522.0 million. Note that stock-based compensation represented roughly 26.8% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonAlibaba faces significant risks related to the regulatory environment in its home market. Domestic competition from low-price rivals continues to pressure its e-commerce market share. Furthermore, the company is susceptible to broader macroeconomic shifts in China that can impact consumer spending patterns and cloud adoption rates. Any changes in trade policies or international relations could also impact its international commerce segments.

Coupang carries risks related to a significant data incident in November 2025 that affected 33 million customer accounts. The company is currently under scrutiny from the Korea Fair Trade Commission regarding its search ranking practices and vendor terms. It also faces intense competition from global giants like Amazon (AMZN +0.12%) as it expands into new territories. Geopolitical tensions in the Korean peninsula and the high costs of maintaining a capital-intensive logistics network also pose ongoing challenges.

Valuation comparisonMetricAlibabaCoupangForward P/E17.1x90.1xP/S ratio1.7x0.7xThe Forward P/E ratio compares the stock price to earnings estimates for the future year. The P/S ratio measures the market capitalization against sales over the past twelve months.

I'd go with Alibaba. That might surprise investors who reflexively avoid Chinese stocks, and the geopolitical risk between the U.S. and China is worth understanding before buying. But Alibaba's AI cloud business has been growing at a double-digit rate for several consecutive quarters, and the stock is trading well below its recent highs despite expected earnings growth of over 40% in the coming year.

Coupang built something genuinely impressive in South Korean e-commerce, and its logistics infrastructure remains difficult to replicate. But the company is navigating a serious crisis right now. A record $400 million fine for a data breach affecting tens of millions of customers has triggered executive perjury investigations, shareholder lawsuits, and international arbitration. The stock has fallen sharply as a result, and the timeline for resolution is unclear.

Alibaba is not a risk-free investment, and anyone buying it should go in with eyes open. But a stock trading at a historically low valuation with an accelerating AI cloud business feels like a more manageable bet than one facing a record regulatory fine, criminal investigations, and international arbitration with no end in sight.

Choosing between Coupang (CPNG -2.26%) and MercadoLibre (MELI -1.50%) is a choice between two regional e-commerce giants. Both dominate their respective markets, but which is the better buy for long-term investors today?

Coupang has mastered the densely populated South Korean market with its proprietary logistics network. Meanwhile, MercadoLibre operates an expansive ecosystem of retail and financial services across Latin America. While both companies leverage massive user bases, they face different macroeconomic environments and competitive pressures, making this a classic match-up between established regional leaders.

The case for CoupangCoupang operates a massive e-commerce marketplace and owned-inventory business primarily in South Korea, though it is expanding into Taiwan. It differentiates itself through its WOW membership program, providing benefits like dawn delivery where items ordered at night arrive by morning. The company also manages a proprietary payment platform and operates Farfetch to support its global luxury goods expansion.

In FY 2025, revenue reached nearly $34.5 billion, representing a growth rate of approximately 14.1% over the prior year. This follows a trend of increasing revenue from close to $24.4 billion in 2023. The company reported net income of roughly $208.0 million for the year, resulting in a net margin of close to 0.6%, which measures how much of each dollar earned becomes profit.

As of its December 2025 balance sheet, the current ratio stands at approximately 1.0x, indicating the company has just enough short-term assets to cover its short-term liabilities. The debt-to-equity ratio, which compares total debt to shareholder equity, is nearly 1.0x. Free cash flow was close to $522.0 million. Note that stock-based compensation represented roughly 26.8% of operating cash flow, which inflates reported cash generation since it is a non-cash expense added back in the cash flow statement.

The case for MercadoLibreMercadoLibre serves 18 countries with a dual-model ecosystem that includes a third-party marketplace and direct retail sales. The company has integrated its fintech division, Mercado Pago, which provides digital accounts and credit for retail stocks and consumers across the region. Logistics are handled by Mercado Envios, a network that ensures reliable delivery in geographies that often lack traditional infrastructure.

In FY 2025, revenue reached close to $28.9 billion, a substantial 39.1% increase compared to the previous fiscal year. This growth led to a net income of approximately $2.0 billion. The company achieved a net margin of roughly 6.9%, which provides a look at how much profit is generated from every dollar of sales.

Based on its December 2025 balance sheet, the current ratio is nearly 1.2x. The debt-to-equity ratio is approximately 1.7x, meaning the company uses more debt relative to its equity to fund operations. Free cash flow was very strong at close to $10.8 billion, representing the cash remaining after the business pays for its operations and capital expenditures.

Risk profile comparisonCoupang faces significant cybersecurity and data privacy risks following a November 2025 incident that affected 33 million accounts. The company also deals with intense competition from local rivals and global players like Amazon (AMZN -2.24%). Furthermore, it is subject to strict Korean fair trade and labor regulations, which include ongoing investigations and potential legal liabilities for its leadership.

MercadoLibre operates in volatile economic environments where inflation and currency devaluations are common in markets like Argentina. It competes against Amazon and new low-price Asian entrants, while its fintech division faces strict oversight regarding money laundering and banking laws. The company also manages credit risk through its lending business, where inaccurate models could result in higher default rates among its borrowers.

Valuation comparisonWhile Coupang is cheaper based on its P/S ratio, both companies trade at a significant premium regarding their Forward P/E, which compares stock price to future earnings estimates.

MetricCoupangMercadoLibreForward P/E71.4x32.8xP/S ratio0.7x2.6xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

I'd go with MercadoLibre. The breadth of what it has built across e-commerce, fintech, and logistics simultaneously across an entire continent puts it in a different category from Coupang, even accounting for Coupang's dominance in South Korea.

That is not to dismiss Coupang, though. Its core commerce business continues to grow, customer loyalty is strong, and its acquisition of Farfetch adds a luxury fashion dimension that broadens its appeal. The lingering effects of a customer data breach and currency headwinds from a weaker South Korean won are manageable headwinds rather than structural problems.

MercadoLibre, meanwhile, just crossed $10 billion in quarterly revenue for the first time, growing at the fastest pace in four years. Commerce and fintech are accelerating simultaneously across Brazil, Mexico, and Argentina, markets where digital adoption still has an enormous runway ahead. For patient investors, the size of MercadoLibre's opportunity and the pace at which it keeps capturing it make it the stronger pick right now.

Investors choosing between Chewy (CHWY +1.16%) and Coupang (CPNG +2.48%) are weighing specialized pet care loyalty against a diversified e-commerce giant dominant in the South Korean market. Both companies seek long-term growth.

Chewy focuses on the resilient pet category, using its Autoship program to create recurring revenue from pet parents. Coupang functions as an everything app for South Korea, offering lightning-fast delivery, streaming, and food delivery. Comparing them helps you decide between a niche leader and a regional powerhouse among retail stocks.

The case for ChewyChewy operates as an e-commerce leader specializing in pet food, supplies, and healthcare services. A central part of its strategy involves the Autoship subscription program, which simplifies recurring purchases and builds long-term loyalty. Offering nearly 190,000 products, it serves a large audience across the United States and Canada. Beyond retail, the company is expanding into professional services through its PracticeHub platform, which is currently used by roughly 20,000 veterinary practices to manage prescriptions and inventory.

As reported in its latest annual filing, in FY 2025, revenue reached nearly $12.6 billion, representing a growth rate of approximately 6.2% compared to the previous year. This steady top-line expansion helped the company achieve a net income of roughly $222.8 million for the period. A net margin of roughly 1.8% demonstrates progress in scaling the business. The company serves over 21 million active users who rely on its 24/7 customer care and broad product selection.

As of its February 2026 balance sheet, the debt-to-equity ratio was roughly 1.1x, which measures a company's total debt against its shareholder equity. The current ratio, which compares short-term assets to short-term liabilities, was approximately 0.9x. During the fiscal year, free cash flow reached nearly $562.4 million, calculated by subtracting capital expenditures from operating cash flow. Note that stock-based compensation represented roughly 43.1% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

The case for CoupangCoupang has established itself as the dominant e-commerce force in South Korea, providing everything from grocery delivery to video streaming. The company operates a proprietary logistics network that enables its signature Rocket Delivery service, often reaching customers within hours. This infrastructure supports a wide ecosystem including food delivery through Coupang Eats and fintech services via Coupang Pay. To sustain growth, the company is expanding into the Taiwan market and integrating its acquisition of luxury retailer Farfetch. Aggregating products from thousands of merchants, it serves nearly 24.7 million active product-commerce customers.

According to its most recent annual results, in FY 2025, revenue grew roughly 14.1% to nearly $34.5 billion. Top-line expansion resulted in a net income of approximately $208.0 million and a net margin of roughly 0.6%. The growth was driven by continued adoption of its subscription services and expansion into new geographic regions. This narrow net margin reflects the significant investment required to maintain a massive logistics network across its primary markets.

As of its December 2025 balance sheet, the debt-to-equity ratio was approximately 1.0x, indicating a balanced split between debt and equity financing. The current ratio sat at roughly 1.0x, suggesting the company has enough short-term assets to meet its immediate obligations. Free cash flow for the fiscal year was close to $522.0 million. Note that stock-based compensation represented roughly 26.8% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonChewy faces operational risks associated with managing its rapid expansion and the capacity of its fulfillment centers. The company relies heavily on third-party dependencies, including data center hosting provided by Amazon (AMZN +1.93%), and remains vulnerable to supply chain disruptions. Furthermore, the competitive landscape in the pet retail and pharmacy sectors is intense, with pressure coming from both mass merchandisers and other e-commerce platforms. Regulatory and litigation risks, including product liability and pet health service oversight, also present potential challenges to its growth trajectory.

Coupang deals with significant cybersecurity risks, particularly following a November 2025 data incident that impacted millions of customer accounts. This event has led to ongoing legal investigations and potential class action litigation that could impact the company's financial performance. Additionally, the company faces regulatory scrutiny in South Korea regarding labor standards and fair trade practices. Macroeconomic and geopolitical tensions on the Korean peninsula also pose risks to its core operations. Integrating new business units like Farfetch further adds to the operational complexity of managing its global expansion.

Valuation comparisonChewy appears more attractively priced on an earnings basis with its lower Forward P/E, which compares its stock price to estimated future earnings. Both companies trade at similar P/S ratio levels, a metric that measures the stock price against annual revenue per share.

MetricChewyCoupangForward P/E14.2x69.9xP/S ratio0.6x0.7xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

I'd go with Coupang. The scale of its opportunity and the breadth of what it has built across South Korea's e-commerce and fintech markets put it in a different category from Chewy entirely. Despite a complicated recent quarter weighed down by the aftermath of a data breach that damaged customer trust, the underlying commerce business grew at a healthy double-digit rate and customer spending among loyal members has returned to pre-incident levels.

Chewy is not without its strengths. Autoship sales provide a steady, predictable revenue base for the company and active customers are growing. Its expansion into pet health gives the company a new avenue for growth. For investors who want a focused, subscription-driven consumer business with a loyal customer base, this is a solid stock to own.

But Chewy is growing modestly in a mature market with a visible ceiling. Coupang is still in the early stages of capturing a digital economy across an entire country, with fintech, logistics, and fresh grocery adding new growth dimensions that Chewy simply cannot match. For investors with a long time horizon, the size of Coupang's opportunity makes it the stronger pick despite the near-term complications.

Corient Private Wealth LP boosted its position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 490.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,963 shares of the company’s stock after purchasing an additional 544,899 shares during the quarter. Corient Private Wealth LP’s holdings in Coupang were worth $11,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nellore Capital Management LLC lifted its stake in shares of Coupang by 12.6% during the 2nd quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company’s stock worth $65,328,000 after purchasing an additional 420,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock worth $12,211,000 after purchasing an additional 64,967 shares in the last quarter. Nykredit A S bought a new position in Coupang in the second quarter worth about $1,270,000. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Coupang during the second quarter worth $67,743,000. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets Several equities research analysts have recently commented on the stock. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Bank of America reduced their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Barclays reissued an “overweight” rating and issued a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Hold” and a consensus target price of $25.39.

Read Our Latest Stock Report on CPNG Insider Transactions at Coupang In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 12.83% of the company’s stock.

Coupang Stock Down 1.7% Shares of NYSE:CPNG opened at $14.44 on Thursday. The firm has a 50 day simple moving average of $16.13 and a 200-day simple moving average of $17.53. Coupang, Inc. has a twelve month low of $14.38 and a twelve month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $25.95 billion, a PE ratio of -33.57 and a beta of 1.15.

Coupang (NYSE:CPNG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the business earned $0.02 EPS. Coupang’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Coupang Profile (Free Report)

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.

Featured Articles Five stocks we like better than Coupang 3 Luxury Consumer Brands to Watch in a Beaten-Down Sector Jackson’s Record Quarter Powers the Bull Case Holiday Shopping Is Almost Here—And Target May Be Ready to Win Big AI Panic Hit Tech Stocks—But NVIDIA’s Growth Engine Is Intact Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG – Free Report).

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In the latest close session, Coupang, Inc. (CPNG - Free Report) was up +2.83% at $15.09. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 0.98%, while the tech-heavy Nasdaq appreciated by 0.96%.

Shares of the company witnessed a loss of 9.94% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 9.35%, and the S&P 500's loss of 1.96%.

Market participants will be closely following the financial results of Coupang, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.23, showcasing a 560% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $9.75 billion, indicating a 5.16% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.46 per share and a revenue of $37.32 billion, signifying shifts of -483.33% and +8.06%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for Coupang, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 20.8% lower. Coupang, Inc. is currently sporting a Zacks Rank of #4 (Sell).

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 103, finds itself in the top 42% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Choosing between a specialized pet care leader and a dominant multi-category logistics giant involves weighing niche loyalty against regional scale. Should you favor Chewy Inc (CHWY -1.25%) or Coupang Inc (CPNG -1.42%) right now?

Chewy focuses on the resilient pet care market in North America through its subscription-based model. Coupang dominates South Korean e-commerce with its integrated delivery network and expanding presence in Taiwan. Both companies represent unique opportunities within their respective markets, though they operate with very different geographic and category concentrations.

The case for ChewyChewy serves as a primary destination for pet parents, offering approximately 190,000 products through its digital platform and mobile apps. The company is a prominent player among retail stocks, specializing in everything from premium food to prescription medications. Following the acquisition of Modern Animal in April 2026, the company plans to grow its physical clinic network to 47 locations to deepen customer loyalty.

In its latest annual report for FY 2025, revenue reached about $12.6 billion, representing a growth rate of approximately 6% compared to the previous year. The company reported net income of approximately $222.8 million for the period, resulting in a net margin of roughly 2%. This performance reflects a continued focus on capturing a larger share of the resilient pet care market while managing costs.

As of its February 2026 balance sheet, the company maintains a debt-to-equity ratio of 1.1x, which compares total debt to the equity held by shareholders. The so-called current ratio stands at approximately 0.9x, measuring the ability to cover short-term liabilities with assets that can be converted to cash quickly. Note that stock-based compensation represented roughly 43% of operating cash flow, which inflates reported cash generation since stock-based compensation is a non-cash expense added back in the cash flow statement.

The case for CoupangCoupang operates a massive logistics and e-commerce infrastructure primarily serving millions of customers in South Korea and Taiwan. The company provides a wide range of services, including Rocket Delivery for rapid shipments, Coupang Eats for food delivery, and luxury goods via the Farfetch platform. Through its logistics partnership with J.Q. Dickinson Salt-Works, it is also expanding the variety of niche consumer goods it brings into Asian markets.

In its latest annual report filed for FY 2025, revenue reached approximately $34.5 billion, which was an increase of around 14% over the prior year. The company reported net income of roughly $208 million, yielding a net margin of 0.6% as it continues to reinvest in its fulfillment network. This growth was supported by an active customer base that reached some 25 million people in the second quarter of 2026.

As of its December 2025 balance sheet, the company has a debt-to-equity ratio of 1.0x and a current ratio of 1.0x. Free cash flow for the fiscal year was approximately $522 million, which is calculated as cash from operations minus capital expenditures. Note that stock-based compensation (SBC) represented roughly 27% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonChewy faces intense competition from online retailers and local veterinarians who may discourage pet owners from using third-party pharmacies. The company also deals with regulatory scrutiny in California regarding antitrust matters and ongoing litigation that could divert management resources. Finally, reliance on third-party shipping partners means any logistics disruption could immediately hurt customer satisfaction and financial results.

Coupang operates under significant regulatory pressure in Korea, including investigations into marketplace practices and potential fines related to data security. A 2025 data incident involving 33 million customer accounts has led to class action litigation and mandatory compensation programs that impact revenue. Additionally, the company relies heavily on Amazon.com Inc (AMZN -0.15%) for cloud infrastructure, making it vulnerable to service failures or price increases from this provider.

Valuation comparisonChewy currently presents a lower Forward P/E than Coupang, although both stocks are priced at an identical P/S ratio.

MetricChewyCoupangForward P/E16.3x75.8xP/S ratio0.8x0.8xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Coupang is the dominant retail platform in its primary market of Korea and it has made great inroads into Taiwan. But a fire at a distribution center and a data breach have made for a tough 2026 for Coupang, with an indication that some consumers who abandoned the platform have yet to return, creating a drag on results. Yet membership in its WOW program has recently reached all-time highs, suggesting the company could start to post improving results in the next few quarters.

Wall Street sees Coupang swinging to a net loss for fiscal 2026, but rebounding in 2027 to post much healthier net income and sales. Forward numbers tend to be speculative, but it's a good long-term sign. Coupang's low P/S ratio gives some justification here for the business as a value play.

Chewy, meanwhile, is establishing a steady growth pattern. In its most recently reported quarter, management noted that its Autoship program grew faster than overall sales, implying that many customers' standing orders will continue to provide a solid base for the company. The company also believes that in the long run, veterinarian and general pet health services are a huge untapped market for Chewy. The business recently closed on the acquisition of Modern Animal, which delivers high profitability per location and is a strong complement to Chewy's existing business.

For fiscal 2026, sales are seen rising 7% to $13.5 billion, with net income up neatrly 50% to $333 million, according to consensus analyst estimates.

With its much more reasonable forward P/E ratio, as well as a market serving dedicated pet owners, Chewy is the stock to buy in 2026, even as Coupang offers long-term promise.

Buying growth stocks at a discount can be a rewarding strategy, especially if the companies in question remain competitively positioned for long-term growth. MercadoLibre (MELI +1.84%) and Coupang (CPNG +1.79%) trade 26% and 68% below their highs, respectively, yet their competitive advantages remain intact, and both are still delivering double-digit percentage revenue growth.

Image source: The Motley Fool.

1. MercadoLibre MercadoLibre shares are down by about 26% from their peak, even as the company just posted a standout 43% year-over-year revenue increase on a constant-currency basis in the second quarter. As Latin America's leading e-commerce and fintech platform, it has sustained strong growth for years.

The company's edge comes from combining its online marketplace with a fast-growing financial services ecosystem that includes payments and credit tools. The marketplace reached 89 million unique active buyers last quarter, up 26% year over year, while the fintech platform had 88 million monthly active users, up 30%. That tight integration is hard for competitors to replicate, which helps explain MercadoLibre's long track record of growth.

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1,966.25

Management continues to strengthen the flywheel by offering benefits that work across both platforms. Its loyalty program, for instance, links marketplace perks like free shipping with fintech rewards such as cashback, increasing engagement and customer retention.

MercadoLibre also wins on logistics. With a growing warehouse footprint in Brazil, it has improved its delivery speed and expanded the scope of its free shipping offers. After it lowered the minimum purchase requirement for free shipping last year, items sold per buyer rose 19% year over year in Q2.

The stock's recent pullback reflects the market's worries about the margin pressure MercadoLibre is facing. However, management continues to prioritize long-term gains over short-term profits. Long-term investors will appreciate that its investments in free shipping, delivery infrastructure, and credit cards are intended to widen its competitive moat and deepen its customer relationships. That's a good reason to buy the dip.

Moreover, the company's advertising revenue, which grew by over 70% last quarter, could be a catalyst for margin expansion over the next decade.

Trading at about 2.8 times trailing sales, below its three-year average of 4.6 times, the stock looks appealing, particularly for a business still growing at this pace. The dip offers a chance to buy a proven long-term compounder at a discount.

2. Coupang Coupang shares are down roughly 68% from their early all-time high in 2021, and have slumped by about 52% from their 52-week high as revenue growth has slowed over the past year. A data breach incident disrupted customer shopping behavior and weighed on momentum. Even so, revenue rose 10% year over year in Q2 on a currency-adjusted basis, compared to the 14% growth it delivered in 2025.

Premium Feature

Moneyball Superscore

62/100

Today's Change

(

1.79

%) $

0.29

Current Price

$

16.52

Coupang is headquartered in Seattle, but primarily operates in South Korea, where it remains the dominant e-commerce player. Its advantages in that market are difficult for rivals to replicate. Building a fast delivery network in a nation of dense cities filled with apartment buildings is expensive and complex, yet Coupang has done it -- and it delivers about 99% of orders within one day or faster.

Its moat is reinforced by its delivery infrastructure, warehouse automation, and its WOW membership program, which bundles free shipping, food delivery, streaming, and other perks. Once customers join, they tend to spend more with Coupang over time. Coupang's longest-tenured WOW members -- those acquired more than a decade ago -- now spend nearly 10 times what they did in year one, a strong sign of both the platform's stickiness and the limited nature of the alternatives.

That also helps explain the speed of its recovery from its data breach incident: Many customers who left have returned, and their spending has climbed above pre-incident levels.

Product commerce active customers increased 3% year over year to 24.7 million in Q2. Coupang is also applying its Korea strategy to Taiwan, which continues to show promise, with the business growing at a pace comparable to what it achieved in South Korea during its early years of expansion there.

With the stock trading at about 0.8 times sales -- roughly half its P/S ratio before the data breach incident -- it looks cheap. As the sting of that incident fades and WOW membership expands, growth could reaccelerate, giving investors who buy at today's discount a chance at excellent returns over the next decade.

Will the massive logistics power of South Korea's e-commerce leader or the viral momentum of a disruptive makeup brand deliver better results for your portfolio? Let's compare Coupang (CPNG +1.17%) and e.l.f. Beauty (ELF +3.53%).

Coupang is a technological powerhouse transforming retail and delivery across Asia, while e.l.f. Beauty leverages social media and value pricing to capture the global cosmetics market. Both companies have shown impressive top-line momentum, but their vastly different industries and scale offer unique opportunities for investors looking to diversify their holdings.

The case for CoupangCoupang operates a massive technology-driven logistics network that powers its retail, food delivery, and video streaming services across South Korea and Taiwan. The company relies on its proprietary WOW membership program to drive customer loyalty among nearly 25 million active users. While the company maintains relationships with various merchants and suppliers, it does not have a single customer accounting for more than 10% of revenue.

In the fiscal year ended Dec. 31, 2025, revenue reached nearly $34.5 billion, representing a growth of roughly 14.1% compared with the prior fiscal year. The company reported net income of approximately $208.0 million, which resulted in a net margin of close to 0.6%. This marks a continuation of profitability even as the company integrates its recent acquisition of Farfetch and expands into new geographic markets.

As of its December 2025 balance sheet, the debt-to-equity ratio was approximately 1.0x, meaning total debt equals shareholder equity. The current ratio, which measures the ability to cover short-term obligations with current assets, was close to 1.0x. Note that stock-based compensation represented roughly 26.8% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

The case for e.l.f. Beautye.l.f. Beauty specializes in high-quality cosmetic and skincare products at accessible price points, primarily serving the U.S. market. The company builds its presence among retail stocks by leveraging viral marketing and maintaining strong partnerships with major national retailers. These partnerships with Target, Walmart, and Amazon provide the company with a massive distribution network, though customer concentration like this adds a layer of risk since these three retailers plus Sephora account for over 50% of net sales.

In the fiscal year ended March 31, 2026, revenue reached nearly $1.6 billion, a growth of roughly 24.6% year over year. The company reported a net income of approximately $26.3 million, yielding a net margin of close to 1.6%. While revenue has climbed significantly, the net margin declined from the previous year as the company invested heavily in brand expansion and international growth initiatives.

As of its March 2026 balance sheet, the current ratio was approximately 2.3x, indicating a strong ability to cover short-term liabilities. The debt-to-equity ratio was close to 0.8x, showing that total debt is lower than total shareholder equity. Note that stock-based compensation represented roughly 40.9% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

Risk profile comparisonCoupang faces substantial risks involving data security, particularly following a November 2025 incident that compromised approximately 33 million accounts. This event triggered government inquiries and class action litigation that could lead to significant financial penalties. Furthermore, regulatory bodies in South Korea continue to investigate the company's search ranking and bundling practices, and the company remains vulnerable to geopolitical tensions between North and South Korea.

e.l.f. Beauty is vulnerable to global trade policy changes, as it sources a majority of its supply chain from China. The company also faces operational risks associated with integrating recent acquisitions, such as its purchase of rhode, which depends on retaining key personnel like Hailey Bieber. Additionally, the company competes with established giants like The Estee Lauder Companies and L'Oreal, requiring constant innovation to maintain its market position amid changing consumer preferences.

Valuation comparisonWhile Coupang trades at a much lower P/S ratio, e.l.f. Beauty offers a more conservative Forward P/E relative to future earnings estimates.

MetricCoupange.l.f. BeautyForward P/E51.4x27.3xP/S ratio0.8x3.5xValuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

I'd go with e.l.f. Beauty, which just delivered a spectacular quarter: 30 consecutive quarters of sales growth, plus a massive earnings beat and a full-year outlook raised by a wide margin. The momentum here is exciting. The Rhode acquisition was an incredibly smart move, and it's now contributing at a level that exceeded even optimistic projections. International revenue is surging and the brand keeps gaining market share in a competitive beauty category.

Coupang, by contrast, is navigating a complicated stretch right now. The underlying e-commerce business is growing steadily in South Korea, and the company has a loyal customer base that keeps spending. But a customer data breach that damaged trust, a weaker South Korean currency eating into results, and a large fine from Korean regulators in the most recent quarter muddied the results in ways that are concerning.

Both companies are growing, but e.l.f. is accelerating while Coupang is managing headwinds. For a long-term investor, e.l.f. Beauty's brand momentum and 30-quarter growth streak make it the stronger pick right now.

Loading up on growth stocks while they're down big can set up investors for significant gains later on. It's important, however, to understand why they are struggling before buying them, so that investors are aware of any risks involving them.

Three growth stocks that may look incredibly appealing to long-term investors right now are Oracle (ORCL -1.60%), Intuit (INTU +4.38%), and Coupang (CPNG +0.73%). Here's why they may be worth buying, while they're down more than 50% from their highs.

Image source: Getty Images.

OracleDatabase giant Oracle has come under pressure this year due to its rising debt load and exposure to OpenAI, the company behind ChatGPT. Since the start of the year, Oracle's shares have fallen by 26%. On Monday, it closed below $147 -- a significant pullback from the 52-week high of $345.72 it reached last year.

In its most recent earnings report, the company said it still expects to raise roughly $40 billion for the current fiscal year through a combination of debt and equity. While the business has been growing at a fast pace and expects revenue to rise between 27% and 29% during the first quarter of fiscal 2027, which runs through the end of August, investors appear more concerned about the long-term risks it faces.

Today's Change

(

-1.60

%) $

-2.35

Current Price

$

144.30

There is undoubtedly risk here with Oracle, but that's arguably priced into its valuation; the stock is trading at 18 times its estimated future earnings (based on analyst expectations). That's a fairly low multiple for a top tech stock such as Oracle. For investors willing to take on the risk, there could be some attractive upside ahead if the company can calm investor fears.

IntuitShares of software company Intuit have nosedived nearly 50% since the start of 2026. Investor fears about artificial intelligence (AI) and the possibility that it could disrupt software businesses led to many quality stocks, including Intuit, falling sharply in the early part of the year.

While Intuit has begun to rally in recent months, it still has a long way to go before it fully recovers from the sharp sell-off. Yesterday, it closed at around $335, which is more than 50% below its 52-week high of $719.10.

Today's Change

(

4.38

%) $

14.69

Current Price

$

350.29

Intuit's business still looks to be in solid shape, with the company reporting revenue growth of 10% in its third-quarter results, which went up until the end of April. I believe the market has overreacted in the case of Intuit, as its tax and accounting software isn't something AI could easily replace, nor is it something consumers and businesses would easily trust even if it did.

Trading at just 12 times its projected future earnings, the stock still looks like a steal of a deal.

CoupangE-commerce company Coupang is a leader in the South Korean market, with opportunities to expand and grow internationally. However, this year, its shares have fallen by more than 30%. A large data breach last year, which affected an estimated 37 million accounts, has weighed on not just investor confidence in the stock but also the company's financial results, as it has faced fines as a result of the scandal.

The stock, which trades at around $16 now, reached a high of more than $34 last year. It's down big as confidence has seemingly faded from this once-promising growth stock.

But while breaches can be devastating, they can, unfortunately, also be commonplace. Many companies have fallen victim to them, and while in the short term, their share prices may collapse, they often end up recovering in the long run.

Today's Change

(

0.73

%) $

0.12

Current Price

$

15.84

Coupang may still face a challenging road ahead, but buying the stock at a deeply reduced valuation could be enticing to investors. While its forward price-to-earnings multiple of 35 isn't exactly cheap, the stock's price-to-earnings-growth (PEG) multiple is less than 0.50, which indicates good value when looking at the long run; the PEG considers the company's expected growth over five years.

For investors who are willing to remain patient and wait for a turnaround, there may be significant upside here.

Coupang currently trades at $16.19, while the average Wall Street price target sits at $23.82. That leaves the stock roughly 47% below where analysts think it should trade. Barclays’ Jiaming Liang carries a $30 Overweight target, implying roughly 85% upside from here.

Coupang (NYSE:CPNG | CPNG Price Prediction) is the dominant e-commerce and logistics operator in South Korea, often called the Amazon of its home market. Its Rocket Delivery network, WOW membership program, and growing Developing Offerings arm (Coupang Eats, Play, fintech, and Farfetch) have made it a favorite of growth investors betting on Asia consumer digitization.

The gap between price and target now sits among the widest in large-cap internet retail.

A $410 Million Fine, a Data Breach, and a Currency Problem The Q2 2026 report snapped the stock. Coupang absorbed ~$410 million in Korean administrative fines from the country’s Personal Information Protection Commission, tied to the November 2025 breach that exposed data on 33 million customers. That charge flipped GAAP operating income to a -$556 million loss, versus a $149 million profit a year earlier.

Currency did the rest of the damage. A weaker Korean Won created a $548 million FX headwind, dragging reported revenue growth to +3.9% even though constant-currency growth was 10%. Free cash flow collapsed 79% year over year, Product Commerce gross margin contracted 204 basis points to 30.5%, and shareholders’ equity fell 36% YoY.

Analysts trimmed targets while keeping Buy ratings: Deutsche Bank upgraded to Buy but cut its target to $21.50, and Bank of America lowered its target to $24.

Why Barclays Is Standing By a $30 Target Bulls argue the quarter looks worse than the business. The fine is one-time. The FX drag is macro-driven. Strip both out, and Coupang is still compounding: constant-currency growth of 10%, Developing Offerings revenue up 20% with gross profit up 32%, and Product Commerce active customers growing at 24.7 million (+3% YoY).

Barclays’ Liang builds the $30 target on four pillars: the Rocket Delivery logistics moat, Taiwan expansion proving the model travels, high-margin advertising, merchant fulfillment, and WOW monetization, and a Farfetch turnaround that removes a cash drag. Morningstar’s Chelsey Tam projects Product Commerce margins to fully recover by mid-2027.

Of 18 analysts, 5 rate CPNG Strong Buy, 8 Buy, 4 Hold, 0 Sell, and 1 Strong Sell. Management is repurchasing 23.2 million shares for $459 million in Q2 under an active $2 billion authorization. The sell side has not blinked on the thesis.

Coupang Is Falling While Its Peers Hold Up This selloff is company-specific. Nothing else in the peer set is down 31% YTD.

MercadoLibre (NASDAQ:MELI) trades at $1,824.34, down 9.4% YTD, against a $2,229.46 target. That is roughly 22% upside, with 20 of 24 analysts at Buy or Strong Buy.

Sea Limited (NYSE:SE) sits at $114.73, down 10% YTD, against a $141.97 target, or about 24% upside. Ratings are almost uniformly bullish, with 27 of 29 analysts at Buy or better.

JD.com (NASDAQ:JD) is the outlier upside, actually up 20.7% YTD to $33.47, with a $39.65 target implying 18% upside. Analysts still lean Buy but the easy money looks made.

Coupang carries the largest implied upside in the group by a wide margin. Either the market is right that Korean regulatory and breach damage is structural, or the peer group is signaling a mispricing.

The Gap Wall Street Is Watching Coupang trades at $16.19 against a $23.82 mean target across 18 covering analysts, an implied upside of roughly 47%. The Barclays high end at $30 pushes that to roughly 85%.

The stock is down 31.37% YTD and 41.8% over the past year. The S&P 500 is up 13.36% YTD and 21.3% over one year. Coupang is trading near its 52-week low of $14.92.

Cheap for a Reason, or Cheap Enough to Own The bull case holds if the Q2 fine was the peak of the regulatory cycle, the Korean Won stabilizes, and Product Commerce margins recover on the mid-2027 timeline management has signaled. Constant-currency growth of 10%, aggressive buybacks at depressed prices, and Taiwan expansion could drive the stock toward the $23 to $30 target zone.

The bear case holds if Developing Offerings losses keep widening from $329 million in Q1, if Seoul regulators find something new to fine, or if card data confirms share loss to rivals. A doubling of short-term borrowings and a 36% drop in shareholders’ equity are balance-sheet moves that turn cheap stocks into value traps.

On balance, the setup leans favorably. The bull thesis has specific catalysts and a defined recovery window. Coupang’s implied upside dwarfs anything else in the peer group. The path will be bumpy, but the risk/reward skew is wider than for peers offering a quarter of the upside.

Contact [email protected] for any questions or corrections.

Coupang is recovering from a data breach, with underlying fundamentals and customer spend showing resilience and platform stickiness. CPNG's Korea operations remain highly profitable, while accelerated logistics investment positions Taiwan as the next potential profit engine. Despite near-term headwinds, CPNG trades at a historical low 0.7–0.8x forward revenue multiple, implying significant upside if re-rated to peer averages.

Net Revenues of $8.9 billion, up 4% YoY and 10% on a constant currency basis

Product Commerce Segment Net Revenues of $7.4 billion, up 1% YoY and 8% on a constant currency basis

Developing Offerings Segment Net Revenues of $1.4 billion, up 20% YoY and 24% on a constant currency basis

SEATTLE--(BUSINESS WIRE)--Coupang, Inc. (NYSE: CPNG) today announced financial results for its second quarter ended June 30, 2026.

Q2 2026 Consolidated Highlights:

Total net revenues were $8.9 billion, up 4% YoY on a reported basis and 10% YoY on a constant currency basis. Gross profit was $2.5 billion, decreasing 3% YoY on a reported basis and increasing 3% YoY on a constant currency basis. Gross profit margin was 28.2%, a decrease of 188 bps YoY. Operating (loss) income was $(556) million, a decrease of $705 million from the operating income last year. Excluding approximately $410 million of certain administrative fines in Korea, operating (loss) income was $(146) million, a decrease of $295 million from the operating income last year. Net (loss) income attributable to Coupang stockholders was $(570) million, a decrease of $602 million from the same period last year. Excluding the administrative fines in Korea, net (loss) income was $(160) million, a decrease of $192 million from the same period last year. Diluted EPS was $(0.32), down $0.34 YoY. Diluted EPS excluding the administrative fines was $(0.09), down $0.11 YoY. Adjusted EBITDA for the quarter was $163 million with a margin of 1.8%, down 318 bps versus last year. Operating cash flow for the trailing twelve months was $1.4 billion, a decrease of $484 million YoY and free cash flow was $105 million for the trailing twelve months, a decrease of $679 million YoY. 23.2 million shares of Class A common stock were repurchased during the quarter for an aggregate amount of $459 million. Q2 2026 Segment Highlights:

Product Commerce segment net revenues were $7.4 billion, up 1% YoY on a reported basis and 8% YoY on a constant currency basis. Product Commerce gross profit was $2.3 billion, down 5% YoY on a reported basis and up 1% YoY on a constant currency basis. Gross profit margin was 30.5%, a decrease of 204 bps YoY. Product Commerce segment adjusted EBITDA was $382 million, down $281 million YoY, with a margin of 5.1%, down 390 bps YoY. Product Commerce Active Customers grew to 24.7 million, up 3% YoY. Developing Offerings segment net revenues were $1.4 billion, up 20% YoY on a reported basis and 24% YoY on a constant currency basis. Developing Offerings segment adjusted EBITDA losses were $219 million, improving $16 million YoY. Second Quarter 2026 Results

Consolidated Financial Summary

  (in millions, except net revenues per Product Commerce Active Customer and earnings per share)

Three Months Ended June 30,

2026

2025

% Change

Total net revenues

$

8,856

$

8,524

4

%

Total net revenues growth, constant currency(1)

10

%

Net revenues per Product Commerce Active Customer

$

301

$

307

(2

)%

Net revenues per Product Commerce Active Customer, constant currency

$

321

5

%

Product Commerce Active Customers

24.7

23.9

3

%

Gross profit(2)

$

2,494

$

2,561

(3

)%

Gross profit growth, constant currency(1)(2)

3

%

Operating (loss) income

$

(556

)

$

149

NM(3)

Adjusted operating (loss) income(1)

$

(146

)

$

149

NM(3)

Net (loss) income

$

(570

)

$

31

NM(3)

Net (loss) income attributable to Coupang stockholders

$

(570

)

$

32

NM(3)

Adjusted net (loss) income attributable to Coupang stockholders(1)

$

(160

)

$

32

NM(3)

Adjusted EBITDA(1)

$

163

$

428

(62

)%

Earnings per share, basic and diluted

$

(0.32

)

$

0.02

NM(3)

Adjusted diluted earnings per share(1)

$

(0.09

)

$

0.02

NM(3)

Net cash provided by operating activities

$

367

$

545

(33

)%

Free cash flow(1)

$

51

$

247

(79

)%

Trailing Twelve Months Ended June 30,

% Change

(in millions)

2026

2025 Net cash provided by operating activities

$

1,425

$

1,909

(25

)%

Free cash flow(1)

$

105

$

784

(87

)%

Segment Information

  Three Months Ended June 30,

(in millions)

2026

2025

% Change

Product Commerce

Net revenues

$

7,425

$

7,334

1

%

Net revenues growth, constant currency(1)

8

%

Gross profit(2)

$

2,268

$

2,390

(5

)%

Gross profit growth, constant currency(1)(2)

1

%

Segment adjusted EBITDA

$

382

$

663

(42

)%

Developing Offerings

Net revenues

$

1,431

$

1,190

20

%

Net revenues growth, constant currency(1)

24

%

Gross profit(2)

$

226

$

171

32

%

Gross profit growth, constant currency(1)(2)

32

%

Segment adjusted EBITDA

$

(219

)

$

(235

)

7

%

Webcast and Conference Call

Coupang, Inc. will host a conference call to discuss second quarter results on August 4, 2026 at 2:30 PM PT/ 5:30 PM ET. A live webcast of the conference call will be available on our Investor Relations website, ir.aboutcoupang.com, and a replay of the conference call will be available for at least three months. This press release, including the reconciliations of certain non-GAAP financial measures to their nearest comparable U.S. GAAP financial measures, as well as our second quarter earnings presentation, are also available on that site.

About Coupang

Coupang is a technology and Fortune 150 company listed on the New York Stock Exchange (NYSE: CPNG) that provides retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Eats, Play, Rocket Now, and Farfetch. It operates in over 190 countries and territories around the world.

FORWARD-LOOKING STATEMENTS

This earnings release and related management commentary may contain statements that may be deemed to be "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (together, the "Act”), that are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws.

We have based the forward-looking statements contained in this earnings release and related management commentary on our current expectations and projections about future events and trends that we believe may affect our industry, business, financial condition, and results of operations. All statements other than statements of historical facts contained in this earnings release and related management commentary, including statements about our business and growth strategies, anticipated or target revenues, growth rates, margins, cash flows, and other operating or financial results, future customer retention, spend and growth rates or trends, our planned investments in new products and offerings, future marketing spend and cost saving trends, future impacts of AI on our business and operating and financial results, and their anticipated outcomes, as well as our beliefs and expectations related to the impact of the recent data incident on our business and operating or financial results, the pace of recovery from the data incident, and our efforts to prevent future data incidents, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "may," "sustain," "plan," "run," "long-term," "potential," "more," "predict," "view," "project," "guide," "arrive," "manage," "should," "target," "toward," "think," "will," "shall," "keep," "goal," "grow," "generate," "objective," "represent," "seek," "see," "apply," "bring," "strategy," "future," "create," "opportunity," "runway," "trajectory," "roll," "work," "increase," "return," "continue," "expand," "extend," "build," "move," "climb," "pace," "restore," "raise," "improve," "refine," "add," "retain," "make," "on-going," "momentum," "compound," "prevent," "commit," "want," "can," or "would," or the negative of these words or other similar terms or expressions. Actual results and outcomes could differ materially from those expressed or contemplated by the forward-looking statements for a variety of reasons, including, among others, risks and uncertainties regarding the nature and scope of any past or future data incidents, investigations and administrative fines related to such data incidents, the impact of such data incidents on us, our customers, operations, and financial results; the continued growth of the retail market; changes in consumer preferences and spending patterns; the increased acceptance of online transactions by potential customers; competition in our industry; managing our growth, investment, and expansion into new markets and offerings; risks associated with current and future acquisitions, mergers, dispositions, joint ventures or investments; potential fluctuations in our financial performance; the extent to which we owe income or other taxes; our ability to retain existing suppliers and to add new suppliers on terms acceptable to us; our market position; our operation and management of our fulfillment and delivery infrastructure; legal and regulatory developments; the outcomes of any claims, litigation, audits, inspections and investigations; and the impact of global economic factors including inflation, foreign currency exchange rates, geopolitical events (including the ongoing conflict in the Middle East), tariffs and other trade barriers, and outcomes from catastrophic occurrences. The forward-looking statements contained in this earnings release and related management commentary are also subject to other risks and uncertainties that could cause actual results to differ from the results predicted. For additional information on other potential risks and uncertainties that could cause actual results to differ from the results predicted, please see our most recent Annual Report on Form 10-K and subsequent SEC filings. All forward-looking statements in this earnings release and related management commentary are based on information available to Coupang and assumptions and beliefs as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

Additional information relating to certain of our financial measures contained herein, including non-GAAP financial measures, is available in this earnings release, including under "Non-GAAP Financial Measures” and "Reconciliations of Non-GAAP Measures” below, and at our website at ir.aboutcoupang.com.

Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (ir.aboutcoupang.com) and through https://news.coupang.com, our filings with the SEC, webcasts, press releases (including those on our investor relations website and https://news.coupang.com), and conference calls. We use these mediums to communicate with investors and the general public about our company, our products, and other matters. It is possible that the information that we make available on our investor relations website or through https://news.coupang.com may be deemed to be material information. We therefore encourage investors and others interested in our company to review the information that we make available on our investor relations website and https://news.coupang.com. Notwithstanding the foregoing, the information contained on our investor relations website and https://news.coupang.com, as referenced in this paragraph, are not incorporated by reference into this release or any other report or document we file with the SEC.

Any updates to the list of disclosure channels through which we will announce information will be posted on our investor relations website or https://news.coupang.com.

  COUPANG, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

  Three Months Ended

June 30,

Six Months Ended

June 30,

(in millions, except per share amounts)

2026

2025

2026

2025

Net retail sales

$

6,744

$

6,507

$

13,220

$

12,595

Net other revenue

2,112

2,017

4,140

3,837

Total net revenues

8,856

8,524

17,360

16,432

Cost of sales

6,362

5,963

12,569

11,555

Operating, general and administrative

3,050

2,412

5,589

4,574

Total operating cost and expenses

9,412

8,375

18,158

16,129

Operating (loss) income

(556

)

149

(798

)

303

Interest income

42

51

86

100

Interest expense

(25

)

(25

)

(38

)

(48

)

Other income (expense), net

6

19

(38

)

55

(Loss) income before income taxes

(533

)

194

(788

)

410

Income tax expense

37

163

48

265

Net (loss) income

(570

)

31

$

(836

)

$

145

Net (loss) income attributable to noncontrolling interests

—

(1

)

—

6

Net (loss) income attributable to Coupang stockholders

(570

)

32

$

(836

)

$

139

Earnings per share

Basic and diluted

$

(0.32

)

$

0.02

$

(0.46

)

$

0.08

Weighted-average shares outstanding

Basic

1,799

1,817

1,812

1,812

Diluted

1,799

1,855

1,812

1,847

COUPANG, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

  (in millions)

June 30, 2026

December 31, 2025

Assets

Cash and cash equivalents

$

6,110

$

6,318

Restricted cash

94

94

Accounts receivable, net

363

363

Inventories

2,067

2,256

Prepaids and other current assets

626

660

Total current assets

9,260

9,691

Property and equipment, net

3,753

3,722

Operating lease right-of-use assets

2,762

2,765

Intangible assets, net

167

190

Deferred tax assets

626

596

Long-term lease deposits and other

826

823

Total assets

$

17,394

$

17,787

Liabilities and equity

Accounts payable

$

6,328

$

6,298

Accrued expenses

876

515

Deferred revenue

204

188

Short-term borrowings

1,985

960

Current portion of long-term operating lease obligations

560

545

Other current liabilities

686

851

Total current liabilities

10,639

9,357

Long-term debt

618

648

Long-term operating lease obligations

2,470

2,482

Defined severance benefits and other

680

677

Total liabilities

14,407

13,164

Commitments and contingencies

Equity

Common stock

—

—

Class A — shares authorized 10,000, outstanding 1,634 and 1,665

Class B — shares authorized 250, outstanding 158 and 158

Additional paid-in capital

8,453

9,025

Accumulated other comprehensive loss

(609

)

(381

)

Accumulated deficit

(4,857

)

(4,021

)

Total equity

2,987

4,623

Total liabilities and equity

$

17,394

$

17,787

COUPANG, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

  Six Months Ended June 30,

(in millions)

2026

2025

Operating activities

Net (loss) income

$

(836

)

$

145

Adjustments to reconcile net (loss) income to net cash provided by operating activities:

Depreciation and amortization

288

248

Provision for severance benefits

133

115

Equity-based compensation

283

234

Non-cash operating lease expense

286

237

Deferred income taxes

(70

)

23

Other

137

89

Change in operating assets and liabilities, net of acquisition:

Accounts receivable, net

(26

)

(80

)

Inventories

77

(110

)

Other assets

(192

)

(276

)

Accounts payable

520

370

Accrued expenses

378

(55

)

Other liabilities

(427

)

(41

)

Net cash provided by operating activities

551

899

Investing activities

Purchases of property and equipment

(613

)

(538

)

Proceeds from sale of property and equipment

3

2

Other investing activities

(18

)

24

Net cash used in investing activities

(628

)

(512

)

Financing activities

Proceeds from issuance of common stock, equity-based compensation plan

1

3

Repurchase of Class A common stock

(850

)

—

Proceeds from short-term borrowings and long-term debt

3,082

781

Repayment of short-term borrowings and long-term debt

(2,019

)

(649

)

Other financing activities

—

(27

)

Net cash provided by financing activities

214

108

Effect of exchange rate changes on cash and cash equivalents and restricted cash

(345

)

363

Net (decrease) increase in cash and cash equivalents and restricted cash

(208

)

858

Cash and cash equivalents and restricted cash, as of beginning of period

6,412

6,031

Cash and cash equivalents and restricted cash, as of end of period

$

6,204

$

6,889

  Supplemental Financial Information

Share Information

  As of June 30,

(in millions)

2026

2025

Outstanding common stock

1,792

1,819

Outstanding equity-based awards

88

81

Outstanding common stock and equity-based awards

1,880

1,900

Key Business Metrics and Non-GAAP Financial Measures

We review the key business and financial metrics discussed below. We use these measures to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans, and make strategic decisions.

Key Business Metrics

Net Revenues per Product Commerce Active Customer and Constant Currency Net Revenues per Product Commerce Active Customer

Net revenues per Product Commerce Active Customer is the total Product Commerce net revenues generated in a period divided by the total number of Product Commerce Active Customers in that period. A key driver of growth is increasing the frequency and the level of spend of customers who are shopping on our Product Commerce apps or websites. We therefore view net revenues per Product Commerce Active Customer as a key indicator of engagement and retention of our customers and our ability to drive future revenue growth, though there may be a short-term dilutive impact when a large number of new Product Commerce Active Customers are added in a recent period.

Constant currency net revenues per Product Commerce Active Customer is the total Product Commerce net revenues generated in a period translated using the prior period exchange rate to exclude the effect of foreign exchange rate movements divided by the total number of Product Commerce Active Customers in that period. Constant currency net revenues per Product Commerce Active Customer is a key indicator to evaluate net revenues per Product Commerce Active Customer between periods as it excludes the effects of foreign currency volatility that are not indicative of customer engagement and retention.

Product Commerce Active Customers

A customer is anyone who has created an account on our apps or websites, identified by a unique email address. As of the last date of each quarterly reported period, we determine our number of Product Commerce Active Customers by counting the total number of individual customers who have ordered at least once directly from our Product Commerce apps or websites during the relevant quarterly period. The change in Product Commerce Active Customers in a reported period captures both the inflow of new customers who have made a purchase in the period as well as the outflow of existing customers who have not made a purchase in the period. We view the number of Product Commerce Active Customers as an indicator of future growth in our net revenue, the reach of our network, the awareness of our brand, and the engagement of our customers.

Three Months Ended June 30,

(in millions, except net revenues per Product Commerce Active Customer)

2026

2025

% Change

Net revenues per Product Commerce Active Customer

$

301

$

307

(2

)%

Net revenues per Product Commerce Active Customer (Constant Currency)

$

321

5

%

Product Commerce Active Customers

24.7

23.9

3

%

Non-GAAP Financial Measures

We report our financial results in accordance with U.S. GAAP. However, management believes that certain non-GAAP financial measures provide investors with additional useful information in evaluating our performance. These non-GAAP financial measures may be different than similarly titled measures used by other companies.

Our non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with U.S. GAAP. Non-GAAP financial measures have limitations in that they do not reflect all the amounts associated with our results of operations as determined in accordance with U.S. GAAP. These measures should only be used to evaluate our results of operations in conjunction with the corresponding U.S. GAAP measures.

Non-GAAP Measure

Definition

How We Use The Measure

Total Net Revenues, Constant Currency and Gross Profit, Constant Currency

• Constant currency information compares results between periods as if exchange rates had remained constant.

• We define total net revenues, constant currency and gross profit, constant currency as total revenue and gross profit, respectively, excluding the effect of foreign exchange rate movements, and use it to determine the total net revenues growth, constant currency and gross profit growth, constant currency on a comparative basis.

• Total net revenues, constant currency and gross profit, constant currency are calculated by translating current period total net revenues and gross profit using the prior period exchange rate.

• The effect of currency exchange rates on our business is an important factor in understanding period-to-period comparisons. Our financial reporting currency is the U.S. dollar ("USD”) and changes in foreign exchange rates can significantly affect our reported results and consolidated trends. For example, our business generates sales predominantly in Korean Won ("KRW”), which are favorably affected as the USD weakens relative to the KRW, and unfavorably affected as the USD strengthens relative to the KRW.

• We use total net revenues, constant currency and total net revenues growth, constant currency, gross profit, constant currency and gross profit growth, constant currency for financial and operational decision-making and as a means to evaluate comparisons between periods. We believe the presentation of our results on a constant currency basis in addition to U.S. GAAP results helps improve the ability to understand our performance because they exclude the effects of foreign currency volatility that are not indicative of our actual results of operations.

Total Net Revenues Growth, Constant Currency and Gross Profit Growth, Constant Currency

• Total net revenues growth, constant currency and gross profit growth, constant currency (as percentages) are calculated by determining the increase in current period revenue and gross profit, respectively, over prior period revenue and gross profit, respectively, where current period foreign currency revenue and gross profit are translated using prior period exchange rates.

Free Cash Flow

• Net cash provided by (used in) operating activities

Less: purchases of property and equipment,

Plus: proceeds from sale of property and equipment.

• Provides information to management and investors about the amount of cash generated from our ongoing operations that, after purchases and sales of property and equipment, can be used for strategic initiatives, including investing in our business and strengthening our balance sheet, including paying down debt, repurchasing shares of our Class A common stock, and paying dividends to stockholders.

Adjusted EBITDA

• Net income (loss), excluding the effects of:

- depreciation and amortization,

- interest expense,

- interest income,

- other income (expense), net,

- income tax expense (benefit),

- equity-based compensation,

- acquisition and restructuring-related costs, net,

- impairments, and

- other items not reflective of our ongoing operations, such as certain administrative fines and catastrophic occurrences.

• Provides information to management to evaluate and assess our performance and allocate internal resources.

• We believe Adjusted EBITDA and Adjusted EBITDA Margin are frequently used by investors and other interested parties in evaluating companies in the retail industry for period-to-period comparisons as they remove the impact of certain items that are not representative of our ongoing business, such as material non-cash items, acquisition-related transaction and restructuring costs, significant costs related to certain non-ordinary course legal and regulatory matters, catastrophic losses, and certain variable charges.

Administrative fines include only certain significant regulatory fines and penalties that Coupang does not consider to be normal operating expenses related to the Company’s ongoing operations, revenue generating activities, business strategy, industry, and regulatory environment.

Adjusted EBITDA Margin

• Adjusted EBITDA as a percentage of total net revenues.

Adjusted Operating (Loss) Income

• Operating (loss) income excluding the impact of certain administrative fines.

• We believe adjusted operating (loss) income, adjusted net (loss) income attributable to Coupang stockholders, and adjusted diluted earnings per share provide useful supplemental information for investors to compare our current earnings results from one period to another. Adjusted operating (loss) income, adjusted net (loss) income attributable to Coupang stockholders, and adjusted diluted earnings per share are performance measures and should not be used as measures of liquidity.

Adjusted Net (Loss) Income Attributable to Coupang Stockholders

• Net (loss) income attributable to Coupang stockholders excluding the impact of certain administrative fines.

Adjusted Diluted Earnings Per Share

• Adjusted net (loss) income attributable to Coupang stockholders divided by the weighted average dilutive shares outstanding for the period.

Reconciliations of Non-GAAP Measures

In reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K, we have not provided the most directly comparable forward-looking U.S. GAAP measure to our total net revenues growth, constant currency guidance and adjusted EBITDA margin guidance or a reconciliation of these forward-looking non-GAAP financial measures to their most directly comparable U.S. GAAP measures as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation, income tax, and currency exchange rates. Accordingly, a reconciliation is not available without unreasonable effort due to the uncertainty of these reconciling items. Because these adjustments are inherently variable and uncertain and depend on various factors that are beyond our control, we are also unable to predict their probable significance. However, it is important to note that these factors could be material to Coupang’s results computed in accordance with U.S. GAAP. Certain amounts may not foot due to rounding.

The following tables present the reconciliations from each U.S. GAAP measure to its corresponding non-GAAP measure for the periods noted.

  Total Net Revenues, Constant Currency and Total Net Revenues Growth, Constant Currency

  Three Months Ended June 30,

Year over Year Growth

2026

2025

(in millions)

As Reported

Exchange
Rate Effect

Constant
Currency
Basis

As Reported

As
Reported

Constant
Currency
Basis

Consolidated

Net retail sales

$

6,744

$

417

$

7,161

$

6,507

4

%

10

%

Net other revenue

2,112

131

2,243

2,017

5

%

11

%

Total net revenues

$

8,856

$

548

$

9,404

$

8,524

4

%

10

%

Net Revenues by Segment

Product Commerce

$

7,425

$

505

$

7,930

$

7,334

1

%

8

%

Developing Offerings

1,431

43

1,474

1,190

20

%

24

%

Total net revenues

$

8,856

$

548

$

9,404

$

8,524

4

%

10

%

Gross Profit, Constant Currency and Gross Profit Growth, Constant Currency

  Three Months Ended June 30,

Year over Year Growth

2026

2025

(in millions)

As Reported

Exchange
Rate Effect

Constant
Currency
Basis

As Reported

As
Reported

Constant
Currency
Basis

Gross Profit by Segment

Product Commerce

$

2,268

$

154

$

2,422

$

2,390

(5

)%

1

%

Developing Offerings

226

(1

)

225

171

32

%

32

%

Gross profit

$

2,494

$

153

$

2,647

$

2,561

(3

)%

3

%

  Free Cash Flow

  Three Months Ended

June 30,

Trailing Twelve Months Ended June 30,

(in millions)

2026

2025

2026

2025

Net cash provided by operating activities

$

367

$

545

$

1,425

$

1,909

Adjustments:

Purchases of land and buildings

(133

)

(49

)

(334

)

(300

)

Purchases of equipment

(184

)

(250

)

(992

)

(832

)

Total purchases of property and equipment

(317

)

(299

)

(1,326

)

(1,132

)

Proceeds from sale of property and equipment

1

1

6

7

Total adjustments

$

(316

)

$

(298

)

$

(1,320

)

$

(1,125

)

Free cash flow

$

51

$

247

$

105

$

784

Net cash used in investing activities

$

(326

)

$

(299

)

$

(1,370

)

$

(1,036

)

Net cash (used in) provided by financing activities

$

(134

)

$

92

$

(141

)

$

119

  Adjusted EBITDA and Adjusted EBITDA Margin   Three Months Ended June 30,

Trailing Twelve Months Ended June 30,

(in millions)

2026

2025

2026

2025

Total net revenues

$

8,856

$

8,524

$

35,462

$

32,263

Net (loss) income attributable to Coupang stockholders

(570

)

32

(767

)

365

Net loss attributable to noncontrolling interests

—

(1

)

—

(25

)

Net (loss) income

(570

)

31

(767

)

340

Net (loss) income margin

(6.4

)%

0.4

%

(2.2

)%

1.1

%

Adjustments:

Depreciation and amortization

145

126

557

480

Interest expense

25

25

76

124

Interest income

(42

)

(51

)

(185

)

(208

)

Income tax expense

37

163

166

481

Other (income) expense, net

(6

)

(19

)

82

(13

)

Acquisition and restructuring-related losses, net

—

40

—

75

Certain administrative fines(1)

410

—

410

—

Fulfillment Center Fire insurance gain

—

—

—

(175

)

Equity-based compensation

164

113

533

470

Adjusted EBITDA

$

163

$

428

$

872

$

1,574

Adjusted EBITDA margin

1.8

%

5.0

%

2.5

%

4.9

%

  Adjusted Operating (Loss) Income

  Three Months Ended
June 30,

Six Months Ended
June 30,

(in millions)

2026

2025

2026

2025

Operating (loss) income

$

(556

)

$

149

$

(798

)

$

303

Adjustments:

Certain administrative fines(1)

410

—

410

—

Adjusted operating (loss) income

$

(146

)

$

149

$

(388

)

$

303

  Adjusted Net (Loss) Income Attributable to Coupang Stockholders

  Three Months Ended
June 30,

Six Months Ended
June 30,

(in millions)

2026

2025

2026

2025

Net (loss) income attributable to Coupang stockholders

$

(570

)

$

32

$

(836

)

$

139

Adjustments:

Certain administrative fines(1)

410

—

410

—

Adjusted net (loss) income attributable to Coupang stockholders

$

(160

)

$

32

$

(426

)

$

139

  Adjusted Diluted Earnings Per Share

  Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

Diluted earnings per share

$

(0.32

)

$

0.02

$

(0.46

)

$

0.08

Adjustments:

Certain administrative fines(1)

0.23

—

0.23

—

Adjusted Diluted Earnings Per Share

$

(0.09

)

$

0.02

$

(0.24

)

$

0.08

For the quarter ended June 2026, Coupang, Inc. (CPNG - Free Report) reported revenue of $8.86 billion, up 3.9% over the same period last year. EPS came in at -$0.09, compared to $0.02 in the year-ago quarter.

The reported revenue represents a surprise of -0.07% over the Zacks Consensus Estimate of $8.86 billion. With the consensus EPS estimate being -$0.26, the EPS surprise was +65.39%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Coupang performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Product Commerce Active Customers: 24.7 million versus the two-analyst average estimate of 24.64 million.Net Revenue- Developing Offerings: $1.43 billion compared to the $1.42 billion average estimate based on two analysts.Net Revenue- Product Commerce: $7.43 billion compared to the $7.44 billion average estimate based on two analysts.Adjusted EBITDA- Developing Offerings: $-219 million versus the two-analyst average estimate of $-253.11 million.Adjusted EBITDA- Product Commerce: $382 million versus $423.32 million estimated by two analysts on average.View all Key Company Metrics for Coupang here>>>

Shares of Coupang have returned -14.3% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Coupang, Inc. (CPNG - Free Report) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.26. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +65.39%. A quarter ago, it was expected that this company would post a loss of $0.59 per share when it actually produced a loss of $0.15, delivering a surprise of +74.58%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Coupang, which belongs to the Zacks Internet - Commerce industry, posted revenues of $8.86 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.07%. This compares to year-ago revenues of $8.52 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Coupang shares have lost about 30.4% since the beginning of the year versus the S&P 500's gain of 11%.

What's Next for Coupang?While Coupang has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Coupang was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.04 on $9.77 billion in revenues for the coming quarter and -$0.33 on $37.27 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Commerce is currently in the bottom 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

eBay (EBAY - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This e-commerce company is expected to post quarterly earnings of $1.51 per share in its upcoming report, which represents a year-over-year change of +10.2%. The consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level.

eBay's revenues are expected to be $3.02 billion, up 10.5% from the year-ago quarter.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Coupang, Inc. (CPNG - Free Report) .

Coupang currently has an average brokerage recommendation (ABR) of 1.97, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.97 approximates between Strong Buy and Buy.

Of the 15 recommendations that derive the current ABR, eight are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 53.3% and 6.7% of all recommendations.

Brokerage Recommendation Trends for CPNG

Check price target & stock forecast for Coupang here>>>

While the ABR calls for buying Coupang, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Should You Invest in CPNG?In terms of earnings estimate revisions for Coupang, the Zacks Consensus Estimate for the current year has declined 33.8% over the past month to -$0.33.

Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Coupang. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, it could be wise to take the Buy-equivalent ABR for Coupang with a grain of salt.