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Coupang vs Dingdong (Cayman): revenue, profit, margins and growth compared

Coupang brought in $34.5B of revenue in fiscal 2025, Dingdong (Cayman) $3.5B in fiscal 2025. Revenue changed by +14.1% at Coupang and +10.2% at Dingdong (Cayman) on the year before, so Coupang grew faster. Coupang kept 0.6% of its revenue as net profit, Dingdong (Cayman) 1.0%. Free cash flow was $522M at Coupang and $51.2M at Dingdong (Cayman).

Side by side, latest fiscal year

CPNGDDL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$34.5B$3.5B
Revenue growth+14.1%+10.2%
Net income$208M$33.1M
Net margin0.6%1.0%
Free cash flow$522M$51.2M
Free cash flow margin1.5%1.5%
Earnings per share (diluted)$0.11n/a
Cash$6.3B$158.3M
Debt$648Mn/a
Price to earnings126.2n/a
Market value$24.9B$524.4M
Dividend yieldn/an/a
Rank by revenue in sector#28 of 778 · Consumer discretionary#265 of 778 · Consumer discretionary

Over the years

Revenue
CPNG FY2019: $6.3BCPNG FY2021: $12BCPNG FY2021: $18.4BCPNG FY2022: $20.6BCPNG FY2023: $24.4BCPNG FY2024: $30.3BCPNG FY2025: $34.5BDDL FY2021: $3.2BDDL FY2022: $3.5BDDL FY2023: $2.8BDDL FY2024: $3.2BDDL FY2025: $3.5BFY19FY21FY22FY23FY24FY25
CPNG $34.5BDDL $3.5B
Net income
CPNG FY2019: -$696.9MCPNG FY2021: -$463.2MCPNG FY2021: -$1.5BCPNG FY2022: -$92MCPNG FY2023: $1.4BCPNG FY2024: $154MCPNG FY2025: $208MDDL FY2021: -$1BDDL FY2022: -$117MDDL FY2023: -$12.9MDDL FY2024: $41.7MDDL FY2025: $33.1MFY19FY21FY22FY23FY24FY25
CPNG $208MDDL $33.1M
Net margin
CPNG FY2019: -11.1%CPNG FY2021: -3.9%CPNG FY2021: -8.4%CPNG FY2022: -0.4%CPNG FY2023: 5.6%CPNG FY2024: 0.5%CPNG FY2025: 0.6%DDL FY2021: -32.0%DDL FY2022: -3.3%DDL FY2023: -0.5%DDL FY2024: 1.3%DDL FY2025: 1.0%FY19FY21FY22FY23FY24FY25
CPNG 0.6%DDL 1.0%
Revenue growth
CPNG FY2021: +90.8%CPNG FY2021: +53.8%CPNG FY2022: +11.8%CPNG FY2023: +18.5%CPNG FY2024: +24.1%CPNG FY2025: +14.1%DDL FY2022: +11.2%DDL FY2023: -19.9%DDL FY2024: +12.3%DDL FY2025: +10.2%FY21FY22FY23FY24FY25
CPNG +14.1%DDL +10.2%
Free cash flow
CPNG FY2019: -$529.7MCPNG FY2021: -$183.1MCPNG FY2021: -$1.1BCPNG FY2022: -$259MCPNG FY2023: $1.8BCPNG FY2024: $1BCPNG FY2025: $522MDDL FY2021: -$960.1MDDL FY2022: -$5.7MDDL FY2023: -$44.8MDDL FY2024: $113.8MDDL FY2025: $51.2MFY19FY21FY22FY23FY24FY25
CPNG $522MDDL $51.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Coupang and Dingdong (Cayman)

Which is bigger by revenue, Coupang or Dingdong (Cayman)?

Coupang is bigger by revenue: $34.5B in fiscal 2025, against $3.5B for Dingdong (Cayman) in fiscal 2025.

Which keeps more of its revenue as profit, Coupang or Dingdong (Cayman)?

Coupang had a net margin of 0.6% in fiscal 2025; Dingdong (Cayman) had 1.0% in fiscal 2025.

Which grew revenue faster, Coupang or Dingdong (Cayman)?

In their latest fiscal years revenue changed by +14.1% at Coupang and +10.2% at Dingdong (Cayman).

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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