Coupang, Inc.

CPNG

Retail-Catalog & Mail-Order Houses

Mkt Cap

$40.92B

PE

32.22

Debt

$1.334B

Cash

$5.574B

EV

$36.68B

FCF

$1.455B

Market Cap

$40.92B

P/E Ratio

32.22

Debt

$1.334B

Cash

$5.574B

EV

$36.68B

FCF

$1.455B

Charts data: {"Earnings":[{"time":"2019-12-30","value":-768300000},{"time":"2020-12-30","value":-555891000},{"time":"2021-12-30","value":-1542590000},{"time":"2022-12-30","value":-92042000},{"time":"2023-12-30","value":1360000000}],"Sales":[{"time":"2019-12-30","value":6273263000},{"time":"2020-12-30","value":11967339000},{"time":"2021-12-30","value":18406372000},{"time":"2022-12-30","value":20582615000},{"time":"2023-12-30","value":24383000000}],"Net Margins":[{"time":"2019-12-30","value":-0.12247214886415571},{"time":"2020-12-30","value":-0.04645067713047989},{"time":"2021-12-30","value":-0.08380739017987901},{"time":"2022-12-30","value":-0.004471832174871852},{"time":"2023-12-30","value":0.05577656563999508}],"Assets":[{"time":"2020-12-30","value":5067332000},{"time":"2021-12-30","value":8641834000},{"time":"2022-12-30","value":9512903000},{"time":"2023-12-30","value":13346000000}],"Stockholders Equity":[{"time":"2019-12-30","value":-3532912000},{"time":"2020-12-30","value":-4068862000},{"time":"2021-12-30","value":2175957000},{"time":"2022-12-30","value":2414000000},{"time":"2023-12-30","value":4089000000}],"ROE":[{"time":"2019-12-30","value":0.21746932841803024},{"time":"2020-12-30","value":0.1366207553856582},{"time":"2021-12-30","value":-0.7089248546731393},{"time":"2022-12-30","value":-0.03812841756420878},{"time":"2023-12-30","value":0.33259965761799953}],"ROA":[{"time":"2020-12-30","value":-0.09134293944032086},{"time":"2021-12-30","value":-0.1728755724768608},{"time":"2022-12-30","value":-0.009787233192643718},{"time":"2023-12-30","value":0.043758429491982616}]}

Coupang, Inc., together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services. The company also offers Rocket Fresh, which offers fresh groceries; Coupang Eats, a restaurant ordering and delivery services; and Coupang Play, an online content streaming services, as well as advertising products. It also performs operations and support services in the United States, Japan, Taiwan, Singapore, and China. Coupang, Inc. was incorporated in 2010 and is headquartered in Seattle, Washington.

Sector

10-Q
9/30/23
10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
10-Q
9/30/22
10-Q
6/30/22
10-Q
3/31/22
10-K
12/31/21
10-Q
9/30/21
10-Q
6/30/21
10-Q
3/31/21

DCF

Discounted Cash Flow Valuation of Coupang, Inc.

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$1.455B	$1.891B	$2.406B	$2.994B	$3.643B	$4.331B	$5.029B	$5.7B	$6.302B	$6.792B	$7.131B	$71.31B
DCF		$1.645B	$1.819B	$1.969B	$2.083B	$2.153B	$2.174B	$2.143B	$2.06B	$1.931B	$1.763B	$17.63B
Value	$37.37B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 570%

Earnings Stability -27%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Data are missing

Years	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	-12%	-4.6%	-8.4%	-0.45%	5.6%	4.9%
ROA	-	-9.1%	-17%	-0.98%	4.4%	3.5%
ROE	22%	14%	-71%	-3.8%	33%	31%

What is the average Net Margin?

The average Net Margin over the past 5 years is +5.58%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +4.38%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +33.26%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

Data are missing

Years	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-	-4.08	-0.89	-3.27	0.58	0.92
Debt Equity	-	-0.18	0.44	0.35	0.25	0.33
MIN
Graham Stability	-	-	-	-	-	-

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 0.92.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -.

What is the Graham’s Stability?

Graham’s Stability measure stands at -.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	12-2020	12-2022	Trend
Revenue	27%	18%	-26%
Net Income	-	-	-
Stockholders Equity	-	69%	58%
FCF	-	-	-

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -25.89%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +58.45%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.