Coupang (CPNG) Operating Expenses (2020 - 2026)
Coupang's Operating Expenses was $9.41 billion in Q2 2026, up 12.4% from $8.38 billion a year earlier and up 7.6% from the prior quarter.
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Analysis
Coupang (CPNG) Operating Expenses (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Coupang's Operating Expenses was $36.09 billion through Jun 30, 2026, up 14.4% year-over-year; for FY2025, it came in at $34.06 billion, up 14.2% from FY2024.
- Operating Expenses has now increased for six consecutive years, with a five-year compound annual growth rate of 22.2% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $29.83 billion in FY2024 (+24.8%), $23.91 billion in FY2023 (+15.5%), $20.7 billion in FY2022 (+4.0%) and $19.9 billion in FY2021 (+59.4%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q1 2020.
- Compared with a year earlier, Operating Expenses has increased for 14 straight quarters, with growth averaging 16.0% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2021 (growth of 47.9%); the worst was Q4 2022 (a decline of 4.2%).
- Per Business Quant data, CPNG's Operating Expenses in the three quarters before Q2 2026 was $8.75 billion (Q1 2026), $8.83 billion (Q4 2025) and $9.11 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,829.78 Bn | 2,346.48 Bn | 104.83 Bn | 173.15 Bn |
| 2 | Home Depot | 290.18 Bn | 283.42 Bn | 16.12 Bn | 9.28 Bn |
| 3 | Tjx Companies | 152.80 Bn | 130.34 Bn | 5.07 Bn | 3.09 Bn |
| 4 | Lowes Companies | 104.32 Bn | 97.29 Bn | 8.58 Bn | 4.46 Bn |
| 5 | Ross Stores | 71.10 Bn | 54.02 Bn | 2.12 Bn | 1.02 Bn |
| 6 | O Reilly Automotive | 70.56 Bn | 69.64 Bn | 2.52 Bn | 1.53 Bn |
| 7 | Carvana | 70.07 Bn | 61.67 Bn | 1.38 Bn | 704.00 Mn |
| 8 | Target | 69.82 Bn | 64.41 Bn | 8.94 Bn | 5.73 Bn |
| 9 | Autozone | 48.00 Bn | 46.90 Bn | 2.52 Bn | 1.60 Bn |
| 10 | Coupang | 28.37 Bn | 2.41 Bn | 2.49 Bn | 9.41 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.41 Bn |
| Mar 31, 2026 | 8.75 Bn |
| Dec 31, 2025 | 8.83 Bn |
| Sep 30, 2025 | 9.11 Bn |
| Jun 30, 2025 | 8.38 Bn |
| Mar 31, 2025 | 7.75 Bn |
| Dec 31, 2024 | 7.65 Bn |
| Sep 30, 2024 | 7.76 Bn |
| Jun 30, 2024 | 7.35 Bn |
| Mar 31, 2024 | 7.07 Bn |
| Dec 31, 2023 | 6.43 Bn |
| Sep 30, 2023 | 6.10 Bn |
| Jun 30, 2023 | 5.69 Bn |
| Mar 31, 2023 | 5.69 Bn |
| Dec 31, 2022 | 5.24 Bn |
| Sep 30, 2022 | 5.02 Bn |
| Jun 30, 2022 | 5.10 Bn |
| Mar 31, 2022 | 5.32 Bn |
| Dec 31, 2021 | 5.47 Bn |
| Sep 30, 2021 | 4.96 Bn |
API Access
Coupang Operating Expenses 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=operating-expenses&ticker=CPNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=CPNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();