Income StatementBalance SheetCash FlowSegments
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Coupang Business Segments

Business, geographic, and product segment breakdowns

Coupang generates $35.1B in annual revenue across 2 key segments: Developing Offerings ($4.6B), and Product Commerce ($20.4B). The company-wide operating margin is 0.22%. Based on the Q1 2026 filing.

Developing Offerings (TTM)$4.6BProduct Commerce (TTM)$20.4B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$28.2B
ROE-0.77%

Products & Services

Total net revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Third-party merchant services$1.7B$1.6B$1.8B$1.9B$1.9B$1.8B
Other revenue$253.0M$258.0M$262.0M$293.0M$296.0M$261.0M

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Revenue, one geographical area, percentage22.5%22.5%22.5%22.5%22.5%—

Business Segments

Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product Commerce$539.0M$550.0M$663.0M$705.0M$567.0M$358.0M
Developing Offerings-$118.0M-$168.0M-$235.0M-$292.0M-$300.0M-$329.0M

Cost of Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product Commerce$4.6B$4.7B$4.9B$5.4B$5.0B$5.0B
Developing Offerings$842.0M$873.0M$1.0B$1.1B$1.2B$1.2B

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product Commerce$2.3B$2.2B$2.4B$2.6B$2.4B$2.2B
Developing Offerings$240.0M$165.0M$171.0M$156.0M$183.0M$123.0M

Total net revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product Commerce$6.9B$6.9B$7.3B$8.0B$7.4B$7.2B
Developing Offerings$1.1B$1.0B$1.2B$1.3B$1.4B$1.3B

Total other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product Commerce—$1.6B$1.7B$1.9B$1.8B$1.8B
Developing Offerings—$333.0M$406.0M$448.0M$483.0M$452.0M