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Coupang, Inc. cash flow statement

In fiscal 2025, Coupang, Inc.'s operations generated $1.77bn of cash; it spent $1.25bn on capital projects, leaving free cash flow of $522m. It returned $243m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−312302−4115652,6521,8861,7731,425
Depreciation and amortisation71128201231275433517557
Stock-based pay2131249262326433475524
Capital spending2184856748248968791,2511,326
Free cash flow−530−183−1,085−2591,7561,00752299
Free cash flow after stock pay−550−214−1,334−5211,43057447−425
Share buybacks115970001782431,093

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Coupang, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Coupang, Inc.