CPNG vs EBAY: Coupang LLC and eBay compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- eBay is the larger company, worth $50.4B, about 1.8 times Coupang LLC.
- eBay grew revenue faster over the last year (+14.8% vs +3.9%).
- eBay keeps more of each dollar of revenue as operating profit (20.5% vs -1.8%).
- On earnings, eBay is the cheaper stock (26.2x vs 183.3x).
- Coupang LLC's price assumes faster free cash flow growth: about 18% a year, against 12% for eBay (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CPNG | EBAY |
|---|---|---|
| Market cap | $28.7B | $50.4B |
| Share price | $15.82 | $112.19 |
| Revenue (last fiscal year) | $34.5B | $11.1B |
| Free cash flow (last fiscal year) | $522M | $1.4B |
| Revenue growth, last year | +3.9% | +14.8% |
| Revenue growth per year, last 5 fiscal years | +17.0% | +1.6% |
| Operating margin | -1.8% | 20.5% |
| Net margin | -2.2% | 18.5% |
| Return on equity | -25.7% | 47.6% |
| P/E (trailing) | 183.3x | 26.2x |
| Price / free cash flow | 54.9x | 30.3x |
| EV / EBITDA | 916.3x | 15.9x |
| FCF growth the price implies | 18.3% | 12.4% |
| Dividend yield | — | 1.0% |
| Debt / equity | 4.82x | 2.84x |
| Fundamental grade | F | C |
| Superinvestors holding it | 8 | 7 |
| Insider purchases, last 12 months | 3 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Coupang LLC
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.4B | -$1.1B | -8.1% |
| 2022 | $20.6B | -$259M | -0.54% |
| 2023 | $24.4B | $1.8B | 1.9% |
| 2024 | $30.3B | $1.0B | 1.4% |
| 2025 | $34.5B | $522M | 1.4% |
eBay
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $10.4B | $2.2B | 28.1% |
| 2022 | $9.8B | $1.8B | 24.0% |
| 2023 | $10.1B | $2.0B | 19.2% |
| 2024 | $10.3B | $2.0B | 22.5% |
| 2025 | $11.1B | $1.4B | 20.5% |
Where the revenue comes from
Coupang LLC · by segments, 2025
Product Commerce$29.6B86%
Developing Offerings$4.9B14%
eBay · by products, 2025
Marketplace revenues$9.1B82%
Advertising revenues$2.0B18%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CPNG in InvestinglyQuestions
Which is bigger, Coupang LLC or eBay?
eBay (EBAY), at $50.4B against $28.7B.
Is CPNG or EBAY cheaper?
By trailing P/E, eBay (26.2x) is cheaper than Coupang LLC (183.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, CPNG or EBAY?
eBay: revenue grew +14.8% over the last year, against +3.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.