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Coupang CPNG Gross margin

Gross margin at other companies

Amazon logo
AmazonAMZN
50.6%+1.4pp
DoorDash logo
DoorDashDASH
50.9%+1.7pp
Packaging Corp of America logo
Packaging Corp of AmericaPKG
20.5%-1.4pp

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$33.8B-12.8%
Enterprise value$32.81B-10.5%
P/S-0.3×

Profitability

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Operating margin0.2%-1.6pp
Net margin1.2%-2.4pp

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

Calculated from Coupang’s reported figures.

Based on trailing twelve months.

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 gross margin?
Coupang (CPNG) reported gross margin of 28.8% in Q1 2026.
How has Coupang's gross margin changed year-over-year?
Coupang's gross margin decreased by 2.9% year-over-year, from 29.7% to 28.8%.
What is the long-term trend for Coupang's gross margin?
Over 4 years (2021 to 2025), Coupang's gross margin has grown at a 16.3% compound annual growth rate (CAGR), from 65% to 118.9%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.