Coupang Inc - Ordinary Shares - Class A
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+ FollowMarket Cap$30.65B
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Earnings Call Q3 2026
November 3, 2026 - AI Summary
Strong revenue momentum; growth beat guidance (but FX/holiday timing and margins still pressured):
- Consolidated revenue grew 7% YoY (11% in constant currency) in Q3, above guided 8–9% constant-currency range.
- Chuseok holiday timing created ~1 percentage point YoY drag on constant-currency growth.
- Product Commerce revenue: $8.4B, +5% reported / +8% constant currency; adjusting for Chuseok shift, PC constant-currency growth accelerated to ~9%.
Customer/value engine improving; WOW membership at record levels (key “good”):
- WOW membership in Korea is at the highest level in Coupang history, with net additions above historical rates (driven by returning members + strong new sign-ups).
- Management highlighted continued spend compounding at normalized rates for returning cohorts and record spend from members who never left (suggesting the earlier incident damage is largely temporary).
- Example new WOW benefit: “Try Now, Pay Later” in fashion—7-day try-before-pay rollout.
Margin recovery path exists but is not immediate; Q3 seen as the “low point” (key “bad/concern”):
- Product Commerce gross margin: 28.4%; excluding fire-related costs ~29.5%, contracting ~260 bps YoY and ~100 bps QoQ.
- Drivers: temporary supply chain headwinds, fixed-cost deleveraging, and elevated promotional/marketing spend to accelerate customer recovery; plus demand imbalance tied to the prior disruption.
- Management expects Q3 as PC adjusted EBITDA margin low point and targets a return to pre-incident margin levels in mid-next year; Q4 guidance implies continued improvement but gradual, not instant.
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$5.69
66.6% downside
Current Fair Value
66.6% downsideOvervalued by 66.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $30.65 Billion |
|---|---|
| Enterprise Value | $30.38 Billion |
| Earnings per Share | $0.11 |
| Beta | 1.17 |
| Outstanding Shares | 1,799,000,000 |
Return
| Return on Equity | -25.68% |
|---|---|
| Return on Assets | -4.41% |
| Return on Invested Capital | -9.89% |
Valuation & Multiples
| P/E Ratio | -33.1 |
|---|---|
| PEG | 1.76 |
| Price to Sales | 0.9 |
| Price to Book Ratio | 17.04 |
| Enterprise Value to Revenue | 0.86 |
| Enterprise Value to EBIT | -45.47 |
| Enterprise Value to Net Income | -40 |
| Total Debt to Enterprise | 0.19 |
| Debt to Equity | 1.95 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$-0.09
Consensus analyst estimateRevenue Estimate
$9.76 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 25, 2027
EPS Estimate
$0.02
Consensus analyst estimateRevenue Estimate
$10.33 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 28.72% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.78%▼ 72.21% |
|---|---|
| Total Invested | $692.91M▼ 97.04% |
| Investors Holding | 139▼ 509.00% |
About Coupang Inc
2,021 employees
Coupang is one of the largest eCommerce companies in Asia, with a mission to revolutionize the everyday lives of its customers and create a world where people wonder, “How did we ever live without Coupang?” Coupang offers a variety of se...