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Coupang CPNG Product Commerce — Cost of Sales

Other segment segments

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$1.21B+38.0%

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Other financials

Income statement

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Revenue$8.5B+7.5%
Gross profit$2.3B-0.8%
Operating income-$242.0M-257%
Net income-$266.0M-349%
EPS (diluted)-$0.15-350%

Balance sheet

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Cash & equivalents$6.4B+3.1%
Total debt$5.4B+32.3%
Total equity$3.9B-10.2%
Total assets$17.4B+8.8%

Cash flow

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Operating cash flow$184.0M-48.0%
CapEx$296.0M+23.8%
Free cash flow-$112.0M-197%

Valuation

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Market cap$31.56B-40.5%
Enterprise value$30.56B-39.5%
P/S0.9×-0.7×

Profitability

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Gross margin28.8%-0.9pp
Operating margin0.2%-1.6pp
Net margin1.2%-2.4pp
FCF margin3.7%+0.4pp

Returns & leverage

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Return on equity8.7%-20.2pp
Debt / equity1.4×+0.4×
Current ratio-0.2×

Where this comes from

Reported directly by Coupang in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: Coupang’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Coupang's product commerce — cost of sales?
Coupang (CPNG) reported product commerce — cost of sales of $5B in Q1 2026.
How has Coupang's product commerce — cost of sales changed year-over-year?
Coupang's product commerce — cost of sales increased by 6.0% year-over-year, from $4.72B to $5B.
What is the long-term trend for Coupang's product commerce — cost of sales?
Over 3 years (2022 to 2025), Coupang's product commerce — cost of sales has grown at a 9.6% compound annual growth rate (CAGR), from $15.28B to $20.13B.
What does product commerce — cost of sales mean?
This metric captures the direct costs associated with producing or acquiring the goods sold within the core commerce segment, including inventory procurement, inbound shipping, and fulfillment labor. It is a critical component for evaluating the direct cost efficiency of the company's retail supply chain.