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Coupang vs Wayfair: revenue, profit, margins and growth compared

Coupang brought in $34.5B of revenue in fiscal 2025, Wayfair $12.5B in fiscal 2025. Revenue changed by +14.1% at Coupang and +5.1% at Wayfair on the year before, so Coupang grew faster. Coupang kept 0.6% of its revenue as net profit, Wayfair -2.5%. Free cash flow was $522M at Coupang and $464M at Wayfair.

Side by side, latest fiscal year

CPNGW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$34.5B$12.5B
Revenue growth+14.1%+5.1%
Net income$208M-$313M
Net margin0.6%-2.5%
Free cash flow$522M$464M
Free cash flow margin1.5%3.7%
Earnings per share (diluted)$0.11-$2.44
Cash$6.3B$1.5B
Debt$648M$3.3B
Price to earnings126.2n/a
Market value$24.9B$13.4B
Dividend yieldn/an/a
Rank by revenue in sector#28 of 778 · Consumer discretionary#103 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: $34.5BW FY2018: $6.8BW FY2019: $9.1BW FY2020: $14.1BW FY2021: $13.7BW FY2022: $12.2BW FY2023: $12BW FY2024: $11.9BW FY2025: $12.5BFY18FY19FY20FY21FY22FY23FY24FY25
CPNG $34.5BW $12.5B
Net income
CPNG FY2019: -$696.9MCPNG FY2021: -$463.2MCPNG FY2021: -$1.5BCPNG FY2022: -$92MCPNG FY2023: $1.4BCPNG FY2024: $154MCPNG FY2025: $208MW FY2018: -$504.1MW FY2019: -$985MW FY2020: $185MW FY2021: -$131MW FY2022: -$1.3BW FY2023: -$738MW FY2024: -$492MW FY2025: -$313MFY18FY19FY20FY21FY22FY23FY24FY25
CPNG $208MW -$313M
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%W FY2018: -7.4%W FY2019: -10.8%W FY2020: 1.3%W FY2021: -1.0%W FY2022: -10.9%W FY2023: -6.1%W FY2024: -4.2%W FY2025: -2.5%FY18FY19FY20FY21FY22FY23FY24FY25
CPNG 0.6%W -2.5%
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%W FY2019: +34.6%W FY2020: +55.0%W FY2021: -3.1%W FY2022: -10.9%W FY2023: -1.8%W FY2024: -1.3%W FY2025: +5.1%FY19FY20FY21FY22FY23FY24FY25
CPNG +14.1%W +5.1%
Free cash flow
CPNG FY2019: -$529.7MCPNG FY2021: -$183.1MCPNG FY2021: -$1.1BCPNG FY2022: -$259MCPNG FY2023: $1.8BCPNG FY2024: $1BCPNG FY2025: $522MW FY2018: -$74.3MW FY2019: -$469MW FY2020: $1.2BW FY2021: $309MW FY2022: -$860MW FY2023: $201MW FY2024: $244MW FY2025: $464MFY18FY19FY20FY21FY22FY23FY24FY25
CPNG $522MW $464M

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

Questions about Coupang and Wayfair

Which is bigger by revenue, Coupang or Wayfair?

Coupang is bigger by revenue: $34.5B in fiscal 2025, against $12.5B for Wayfair in fiscal 2025.

Which keeps more of its revenue as profit, Coupang or Wayfair?

Coupang had a net margin of 0.6% in fiscal 2025; Wayfair had -2.5% in fiscal 2025.

Which grew revenue faster, Coupang or Wayfair?

In their latest fiscal years revenue changed by +14.1% at Coupang and +5.1% at Wayfair.

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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