Discounted Cash Flow

Coupang, Inc.

CPNG · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2019 $6.3b $-696.9m $-529.7m -11.1% $-39.48
2020 $12.0b (90.8%) $-463.2m (33.5%) $-183.1m (65.4%) -3.9% (65.2%) $-19.16 (51.5%)
2021 $18.4b (53.8%) $-1.5b (-233.1%) $-1.1b (-492.2%) -8.4% (-116.5%) $-1.08 (94.4%)
2022 $20.6b (11.8%) $-92.0m (94.0%) $-258.8m (76.1%) -0.4% (94.7%) $-0.05 (95.4%)
2023 $24.4b (18.5%) $1.4b (1577.6%) $1.8b (778.5%) 5.6% (1347.3%) $0.76 (1626.4%)
2024 $30.3b (24.1%) $154.0m (-88.7%) $1.0b (-42.7%) 0.5% (-90.9%) $0.04 (-95.2%)
2025 $34.5b (14.1%) $208.0m (35.1%) $522.0m (-48.2%) 0.6% (18.4%) $0.12 (220.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model