Does Coupang Stock Lead the Pack?
Coupang’s stock posted a moderate 6% return over the past year, aligning with Apple but trailing peers like IBM and Cisco. A closer look reveals industry-leading revenue growth, driven by its dominant South Korean e-commerce position and aggressive international expansion, particularly in Taiwan. However, despite operational efficiencies and AI-driven logistics that are improving gross margins, Coupang shows significantly lower operating profitability and a premium valuation compared to its larger tech peers. Sustained upside may be limited if profitability doesn’t improve to justify its high P/E ratio amidst intensifying competition.
- CPNG’s 2.3% operating margin, lowest among peers, reflects heavy e-commerce investment in logistics and new ventures, unlike AAPL’s 31.9% from mature tech & services.
- CPNG’s 16.6% revenue growth outpaces peers, driven by e-commerce market expansion and new customer acquisition, contrasting mature tech’s slower growth.
- CPNG’s 6.4% gain and 113.4 PE reflect high growth expectations, despite peers like HPE/IBM/CSCO delivering stronger returns, signaling valuation concerns.
Here’s how Coupang stacks up across size, valuation, and profitability versus key peers.
| CPNG | HPQ | HPE | IBM | CSCO | AAPL | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 44.2 | 21.9 | 32.6 | 284.9 | 309.2 | 4,074.4 |
| Revenue ($ Bil) | 33.7 | 55.3 | 34.3 | 65.4 | 57.7 | 408.6 |
| PE Ratio | 113.4 | 8.6 | 572.7 | 36.0 | 29.9 | 41.0 |
| LTM Revenue Growth | 16.6% | 3.2% | 13.8% | 4.5% | 8.9% | 6.0% |
| LTM Operating Margin | 2.3% | 6.6% | 4.8% | 17.7% | 22.5% | 31.9% |
| LTM FCF Margin | 3.7% | 5.1% | 1.8% | 18.1% | 22.1% | 23.5% |
| 12M Market Return | 6.4% | -27.3% | 14.2% | 39.2% | 33.7% | 6.0% |
For more details on Coupang, read Buy or Sell CPNG Stock. Below we compare CPNG’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CPNG | 16.6% | – | 24.1% | 18.5% | 11.8% |
| HPQ | 3.2% | 3.2% | -0.3% | -14.6% | |
| HPE | 13.8% | 13.8% | 3.4% | 2.2% | |
| IBM | 4.5% | – | 1.4% | 2.2% | 5.5% |
| CSCO | 8.9% | 5.3% | -5.6% | 10.6% | |
| AAPL | 6.0% | – | 2.0% | -2.8% | 7.8% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CPNG | 2.3% | – | 1.4% | 1.9% | -0.5% |
| HPQ | 6.6% | 6.6% | 7.8% | 7.9% | |
| HPE | 4.8% | 4.8% | 8.3% | 8.4% | |
| IBM | 17.7% | – | 16.1% | 15.9% | 13.5% |
| CSCO | 22.5% | 22.1% | 24.1% | 27.3% | |
| AAPL | 31.9% | – | 31.5% | 29.8% | 30.3% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| CPNG | 113.4 | – | 256.1 | 21.2 | -282.2 |
| HPQ | 8.6 | 12.2 | 10.6 | 8.2 | |
| HPE | 572.7 | 495.9 | 8.6 | 10.2 | |
| IBM | 36.0 | – | 33.6 | 19.9 | 77.5 |
| CSCO | 29.9 | 23.1 | 19.8 | 15.5 | |
| AAPL | 41.0 | – | 41.0 | 31.3 | 21.1 |
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