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Coupang CPNG Product Commerce — Total net revenues

Other segment segments

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$1.33B+27.9%

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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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 — total net revenues?
Coupang (CPNG) reported product commerce — total net revenues of $7.18B in Q1 2026.
How has Coupang's product commerce — total net revenues changed year-over-year?
Coupang's product commerce — total net revenues increased by 4.5% year-over-year, from $6.87B to $7.18B.
What is the long-term trend for Coupang's product commerce — total net revenues?
Over 4 years (2021 to 2025), Coupang's product commerce — total net revenues has grown at a 13.5% compound annual growth rate (CAGR), from $17.84B to $29.59B.
What does product commerce — total net revenues mean?
This metric represents the total revenue generated by the core e-commerce business segment, including direct retail sales, third-party marketplace commissions, and associated advertising services. It serves as the primary indicator of the scale and market penetration of the company's core retail operations.