Coupang, Inc. (CPNG)财务
NYSE · Consumer Cyclical · Specialty Retail · 员工108,000人 · CEO Bom Kim
- 股价
- $14.37 -1.37%
- 市值
- $258亿
- 企业价值
- $254亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-03 EPS预期 -$0.09
营收(TTM)$355亿+9.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-1.8%-4.0 百分点 对比去年同期营业利润 -$6.28亿
净利润(TTM)-$7.67亿-310.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$1.08亿-86.2% 对比去年同期资本支出 $13.3亿
稀释EPS(TTM)-$0.43-314.8% 对比去年同期最近4个季度之和
净现金$4.77亿-78.5% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $258亿 EV $254亿
- 营收
- $355亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- -2.2% 净利润 / 营收,TTM
- P/E
- -33.1× 预期 -26.5×(FY2026)
- P/S
- 0.7× 股价 / 营收,TTM
- EV / EBITDA
- 792.3× TTM
- 自由现金流
- $1.08亿 过去12个月
- 净利润
- -$7.67亿 过去12个月
- 营收预期
- $371亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $97.6亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收低于预期0.7%,EPS 低于预期19.0%营收$88.6亿,预期$89.2亿(-0.7%);EPS -$0.32,预期-$0.27(-19.0%)。
- 营收增长放缓:同比3.9%Q2 '26营收$88.6亿,此前四个季度的平均值为13.2%。
- 营业利润率-1.8%(TTM),较去年同期-4.0 百分点营收增长9.9%,营业利润增长-186.7%。
- 资本支出占营收的3.8%(去年为3.5%)最近4个季度投入$13.3亿(同比+17.8%)。自由现金流$1.08亿。
- 股东回报$10.9亿 = 自由现金流的1,016.4%回购$10.9亿(去年为$0),股息$0,股权激励$5.24亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少3.0%Q2 '26稀释股数18亿,一年前为18.6亿。
- 净现金 $4.77亿现金 + 短期投资 $61.1亿,含租赁债务 $56.3亿;一年前净现金 $22.2亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $88.6亿 | $85.2亿 | +3.9% |
| 毛利率 | 28.2% | 30.0% | -1.9 百分点 |
| 营业利润 | -$5.56亿 | $1.49亿 | -473.2% |
| 营业利润率 | -6.3% | 1.7% | -8.0 百分点 |
| 净利润 | -$5.7亿 | $3200万 | -1,881.3% |
| 稀释EPS | -$0.32 | $0.02 | -1,960.5% |
| 经营现金流 | $3.67亿 | $5.45亿 | -32.7% |
| 资本支出 | $3.17亿 | $2.99亿 | +6.0% |
| 自由现金流 | $5000万 | $2.46亿 | -79.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.61亿 | $1.13亿 | +42.5% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $88.6亿 | $89.2亿 | -0.7% |
| EPS(一致预期口径) | -$0.32 | -$0.27 | -19.0% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product | $67.4亿 | +3.6% | 76.2% | $269亿 | -11.9% | |
| Third-Party Merchant Services | $18.3亿 | +4.4% | 20.7% | $74亿 | -5.8% | |
| Service, Other | $2.8亿 | +6.9% | 3.2% | $11.3亿 | -3.4% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $14.4亿
- 资本支出
- -$13.3亿
- 股票回购
- -$10.9亿
- 股息
- $0
- 收购
- $306万
- 债务净发行
- $9.5亿
- 股权激励费用
- $5.24亿
- 自由现金流
- $1.08亿
- 股东回报 / FCF
- 1,016.4%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -33.1× | 164.0× 5年中的3年 | 21.3× – 256.2× |
| EV / EBITDA | 792.3× | 62.4× 5年中的4年 | 29.1× – 150.6× |
| EV / 营收 | 0.7× | 1.4× | 1.1× – 2.2× |
| 股价 / FCF | 240.2× | 45.9× 5年中的3年 | 16.4× – 82.2× |
| 股价 / 净资产 | 8.7× | 11.2× | 7.1× – 19.2× |
| FCF收益率 | 0.4% | 1.3% | -2.6% – 6.1% |
| 投入资本回报率 | -6.8% | -5.2% | -33.0% – 6.5% |
| 净资产收益率 | -18.8% | -6.6% | -70.9% – 33.3% |
分析师
一致目标价 $25.25 (+75.7%)
区间 $21.50 – $31.00 · 评级 Buy
强烈买入0
买入14
持有2
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $371亿 | +7.6% | -$0.54 | -593.4% | -26.5× | 7 |
| FY2027 | $427亿 | +15.1% | $0.31 | +156.8% | 46.6× | 8 |
| FY2028 | $478亿 | +11.8% | $0.71 | +129.2% | 20.3× | 14 |
| FY2029 | $484亿 | +1.1% | $0.55 | -22.1% | 26.1× | 7 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Coupang, Inc.在近期10-Q / 10-K文件中标记的全部247项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $63.3亿 | $64.9亿 | -2.5% | $63亿 | $55.5亿 | +13.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $3.63亿 | $4.99亿 | -27.3% | $3.63亿 | $4.07亿 | -10.8% |
| Accrued Liabilities, Current | $8.76亿 | $4.3亿 | +103.7% | $5.15亿 | $4.61亿 | +11.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$6.09亿 | -$2.5亿 | -143.6% | -$3.81亿 | -$4.04亿 | +5.7% |
| Additional Paid in Capital | $84.5亿 | $90.3亿 | -6.3% | $90.3亿 | $87.4亿 | +3.3% |
| Advertising Expense | – | – | – | $11亿 | $9.47亿 | +16.2% |
| Amortization of Intangible Assets | – | – | – | $5000万 | $6400万 | -21.9% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2200万 | 0 | – | 0 | 100万 | -100.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.61亿 | $1.13亿 | +42.5% | $4.75亿 | $4.33亿 | +9.7% |
| Assets | $174亿 | $178亿 | -2.5% | $178亿 | $153亿 | +15.9% |
| Assets, Current | $92.6亿 | $102亿 | -9.0% | $96.9亿 | $89.9亿 | +7.7% |
| Capital Expenditures Incurred but Not yet Paid | $5100万2025-12-31 | $3000万 | +70.0% | $7300万 | $8100万 | -9.9% |
| Cash and Cash Equivalents, at Carrying Value | $61.1亿 | $68亿 | -10.1% | $63.2亿 | $58.8亿 | +7.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $62亿 | $68.9亿 | -9.9% | $64.1亿 | $60.3亿 | +6.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.87亿 | $6.89亿 | -127.1% | $3.81亿 | $4.34亿 | -12.2% |
| Common Stock, Value, Issued | $0 | $0 | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | -$100万 | +100.0% | $300万 | -$8700万 | +103.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$6.39亿 | $1.88亿 | -439.9% | $2.33亿 | -$2.33亿 | +200.0% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$6.39亿 | $1.87亿 | -441.7% | $2.36亿 | -$3.2亿 | +173.8% |
| Contract with Customer, Liability, Current | $2.04亿 | $1.88亿 | +8.5% | $1.88亿 | $1.41亿 | +33.3% |
| Contract with Customer, Liability, Revenue Recognized | $1200万 | $300万 | +300.0% | $1.4亿 | $9100万 | +53.8% |
| Contractual Obligation | $65.7亿2025-12-31 | $67.7亿 | -2.9% | $65.7亿 | $67.7亿 | -2.9% |
| Contractual Obligation, to be Paid, after Year Five | $8.11亿2025-12-31 | $11亿 | -25.9% | $8.11亿 | $11亿 | -25.9% |
| Contractual Obligation, to be Paid, Year Five | $7.42亿2025-12-31 | $6.2亿 | +19.7% | $7.42亿 | $6.2亿 | +19.7% |
| Contractual Obligation, to be Paid, Year Four | $8.59亿2025-12-31 | $7.03亿 | +22.2% | $8.59亿 | $7.03亿 | +22.2% |
| Contractual Obligation, to be Paid, Year One | $13.3亿2025-12-31 | $13.5亿 | -1.9% | $13.3亿 | $13.5亿 | -1.9% |
| Contractual Obligation, to be Paid, Year Three | $14.3亿2025-12-31 | $16.9亿 | -15.5% | $14.3亿 | $16.9亿 | -15.5% |
| Contractual Obligation, to be Paid, Year Two | $14.1亿2025-12-31 | $13.1亿 | +7.2% | $14.1亿 | $13.1亿 | +7.2% |
| Cost of Goods and Services Sold | $63.6亿 | $59.6亿 | +6.7% | $244亿 | $214亿 | +13.8% |
| Costs and Expenses | $94.1亿 | $83.8亿 | +12.4% | $341亿 | $298亿 | +14.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$3500万 | $7600万 | -146.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.81亿 | $1.06亿 | +259.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.46亿 | $1.82亿 | +90.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Debt Instrument, Unamortized Discount | $200万2025-12-31 | $1700万 | -88.2% | $200万 | $1700万 | -88.2% |
| Debt, Weighted Average Interest Rate | 3.0%2025-12-31 | 3.1% | -1.6% | 3.0% | 3.1% | -1.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$4800万 | -$1500万 | -220.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $8500万 | $2.4亿 | -64.6% |
| Deferred Income Tax Assets, Net | $6.26亿 | $6.46亿 | -3.1% | $5.96亿 | $6.22亿 | -4.2% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $3700万 | $2.25亿 | -83.6% |
| Deferred Income Taxes and Tax Credits | -$4200万 | $1200万 | -450.0% | $3700万 | $2.25亿 | -83.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Tax Assets, Goodwill and Intangible Assets | $2200万2025-12-31 | $2200万 | 0.0% | $2200万 | $2200万 | 0.0% |
| Deferred Tax Assets, Gross | $25.7亿2025-12-31 | $19.9亿 | +29.0% | $25.7亿 | $19.9亿 | +29.0% |
| Deferred Tax Assets, Net | $5.96亿2025-12-31 | $6.22亿 | -4.2% | $5.96亿 | $6.22亿 | -4.2% |
| Deferred Tax Assets, Net of Valuation Allowance | $13亿2025-12-31 | $10.9亿 | +19.3% | $13亿 | $10.9亿 | +19.3% |
| Deferred Tax Assets, Operating Loss Carryforwards | $11.5亿2025-12-31 | $9.89亿 | +16.5% | $11.5亿 | $9.89亿 | +16.5% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $32亿2025-12-31 | $27亿 | +18.5% | $32亿 | $27亿 | +18.5% |
| Deferred Tax Assets, Other | $1.15亿2025-12-31 | $4800万 | +139.6% | $1.15亿 | $4800万 | +139.6% |
| Deferred Tax Assets, Property, Plant and Equipment | $1500万2025-12-31 | $1300万 | +15.4% | $1500万 | $1300万 | +15.4% |
| Deferred Tax Assets, Tax Credit Carryforwards | $8400万2025-12-31 | $8900万 | -5.6% | $8400万 | $8900万 | -5.6% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $1.66亿2025-12-31 | $1.18亿 | +40.7% | $1.66亿 | $1.18亿 | +40.7% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $2700万2025-12-31 | $2200万 | +22.7% | $2700万 | $2200万 | +22.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $1.14亿2025-12-31 | $8900万 | +28.1% | $1.14亿 | $8900万 | +28.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $1.17亿2025-12-31 | $1.04亿 | +12.5% | $1.17亿 | $1.04亿 | +12.5% |
| Deferred Tax Assets, Valuation Allowance | $12.7亿2025-12-31 | $9.03亿 | +40.8% | $12.7亿 | $9.03亿 | +40.8% |
| Deferred Tax Liabilities, Gross | $7.06亿2025-12-31 | $4.69亿 | +50.5% | $7.06亿 | $4.69亿 | +50.5% |
| Deferred Tax Liabilities, Leasing Arrangements | $7.04亿2025-12-31 | $4.66亿 | +51.1% | $7.04亿 | $4.66亿 | +51.1% |
| Deferred Tax Liabilities, Other | $200万2025-12-31 | $300万 | -33.3% | $200万 | $300万 | -33.3% |
| Defined Benefit Plan, Accumulated Benefit Obligation | $4.49亿2025-12-31 | $3.48亿 | +29.0% | $4.49亿 | $3.48亿 | +29.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02