Coupang (CPNG) Gross Margin (2020 - 2026)
Coupang's (CPNG) quarterly Gross Margin came in at 28.16% in Q2 2026, down 188.0% on a YoY basis from 32.0% in Q2 2025, and up 4.26% quarter-over-quarter from 27.01% in Q1 2026.
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Analysis
Coupang (CPNG) Gross Margin (2020 - 2026) Analysis & Trends
Coupang (CPNG) has reported Gross Margin for 7 consecutive years, with 28.16% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 188.0% year-over-year to 28.16%; the trailing twelve-month figure through Jun 2026 stood at 28.35% (down 152.0% YoY), and the FY2025 full-year result was 29.37%, up 19.0% from the prior year.
- Gross Margin improved to 28.16% in Q2 2026 per CPNG's latest filing, from 27.01% in the prior quarter.
- Across five years, Gross Margin topped out at 31.27% in Q4 2024 and bottomed at 20.39% in Q1 2022.
- Historically, Gross Margin has averaged 26.79% across 5 years, with a median of 27.06% in 2024.
- The sharpest annual moves came in 2022 and 2025: Gross Margin surged 820 bps in 2022, then sank 248 bps in 2025.
- Over 5 years, Gross Margin stood at 24.01% in 2022, then rose by 7 bps to 25.61% in 2023, then advanced by 22 bps to 31.27% in 2024, then fell by 8 bps to 28.79% in 2025, then declined by 2 bps to 28.16% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 28.16%, 27.01%, and 28.79% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.76 Bn | 2,612.77 Bn | 198.88 Bn | 52.05% |
| 2 | JD.com | 32.66 Bn | 9.40 Bn | 16.50 Bn | 16.91% |
| 3 | Coupang | 25.61 Bn | 19.50 Bn | 2.49 Bn | 28.16% |
| 4 | Wayfair | 13.93 Bn | 12.79 Bn | 1.05 Bn | 29.95% |
| 5 | GigaCloud Technology | 3.80 Bn | 3.42 Bn | 105.56 Mn | 25.64% |
| 6 | Pattern | 3.04 Bn | 2.69 Bn | 384.36 Mn | 43.84% |
| 7 | Yunji | 1.88 Bn | 1.86 Bn | - | - |
| 8 | Revolve | 1.47 Bn | 1.13 Bn | 196.67 Mn | 56.61% |
| 9 | ATRenew | 632.36 Mn | 371.23 Mn | -705.59 Mn | -1,154.65% |
| 10 | Stitch Fix | 398.30 Mn | 211.49 Mn | 148.84 Mn | 43.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 28.16% |
| Mar 31, 2026 | 27.01% |
| Dec 31, 2025 | 28.79% |
| Sep 30, 2025 | 29.35% |
| Jun 30, 2025 | 30.04% |
| Mar 31, 2025 | 29.29% |
| Dec 31, 2024 | 31.27% |
| Sep 30, 2024 | 28.85% |
| Jun 30, 2024 | 29.25% |
| Mar 31, 2024 | 27.12% |
| Dec 31, 2023 | 25.61% |
| Sep 30, 2023 | 25.32% |
| Jun 30, 2023 | 26.10% |
| Mar 31, 2023 | 24.48% |
| Dec 31, 2022 | 24.01% |
| Sep 30, 2022 | 24.19% |
| Jun 30, 2022 | 22.90% |
| Mar 31, 2022 | 20.39% |
| Dec 31, 2021 | 15.87% |
| Sep 30, 2021 | 16.24% |
API Access
Coupang Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CPNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CPNG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CPNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();