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Coupang CPNG Product Commerce — Gross Profit

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$123M-25.5%

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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-40.0%
Enterprise value$30.56B-39.0%
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:GrossProfit.

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 — gross profit?
Coupang (CPNG) reported product commerce — gross profit of $2.17B in Q1 2026.
How has Coupang's product commerce — gross profit changed year-over-year?
Coupang's product commerce — gross profit increased by 1.1% year-over-year, from $2.15B to $2.17B.
What is the long-term trend for Coupang's product commerce — gross profit?
Over 3 years (2022 to 2025), Coupang's product commerce — gross profit has grown at a 26.5% compound annual growth rate (CAGR), from $4.68B to $9.47B.
What does product commerce — gross profit mean?
This metric represents the difference between total net revenues and the cost of sales for the core commerce segment. It measures the fundamental profitability of the company's retail operations before accounting for operating expenses like marketing, technology, or general administration.