Coupang, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | $208.0M | $154.0M | $1.36B | $-92.0M | $-1.54B | $-463.2M | $-696.9M |
| Depreciation & Amortization | $517.0M | $433.0M | $275.0M | $231.0M | $201.0M | $127.5M | $70.9M |
| Depreciation | $467.0M | $369.0M | $271.0M | $229.0M | $200.0M | $128.0M | $71.0M |
| Amortization | $50.0M | $64.0M | $4.0M | $2.0M | — | — | — |
| Stock-Based Compensation | $475.0M | $433.0M | $326.0M | $262.0M | $249.0M | $31.3M | $20.8M |
| Net Cash from Operating Activities | $1.77B | $1.89B | $2.65B | $565.0M | $-411.0M | $301.6M | $-311.8M |
| Investing Activities | |||||||
| Capital Expenditures | $1.25B | $879.0M | $896.0M | $824.0M | $674.0M | $484.6M | $217.8M |
| Business Acquisitions | $0 | $-68.0M | $0 | $0 | — | — | — |
| Net Cash from Investing Activities | $-1.25B | $-819.0M | $-927.0M | $-848.0M | $-676.0M | $-520.7M | $-218.2M |
| Financing Activities | |||||||
| Dividends Paid | — | — | — | — | — | — | — |
| Stock Repurchases | $243.0M | $178.0M | $0 | $0 | — | — | — |
| Net Cash from Financing Activities | $-247.0M | $-69.0M | $199.0M | $247.0M | $3.58B | $178.5M | $1.18B |
| Net Change in Cash | $381.0M | $434.0M | $1.91B | $-123.0M | $2.41B | $29.8M | $631.6M |
| Free Cash Flow | $522.0M | $1.01B | $1.76B | $-259.0M | $-1.09B | $-183.1M | $-529.7M |