Coupang vs Sea Limited
Coupang reported revenue of $34.5 billion in fiscal 2025, 1.5 times Sea Limited's $22.9 billion in fiscal 2025. Coupang's revenue grew 14.1% in its latest year, and Sea Limited's grew 36.4%. Coupang had an operating margin of 1.4%, against 8.7% at Sea Limited. Free cash flow was $522 million at Coupang and $4.5 billion at Sea Limited.
Side by side
| Coupang | Sea Limited | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $34.5B | $22.9B |
| Revenue growth | 14.1% | 36.4% |
| Revenue growth a year, last 5 years | 23.6% | 39.3% |
| Gross margin | 29.4% | 44.7% |
| Operating margin | 1.4% | 8.7% |
| Net margin | 0.6% | 6.9% |
| Free cash flow | $522M | $4.5B |
| Free cash flow margin | 1.5% | 19.7% |
| Return on capital | — | — |
| Net debt to EBITDA | −4.8x | −4.5x |
| Dividends and buybacks | $243M | $14M |
| Change in diluted share count | 1.6% | 5.5% |
| Last close | $13.75 | $74.01 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | bought $136.6 million, sold $5.8 million | sold $532.1 million |
| Piotroski F-score | 6 of 9 | 8 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
CoupangSea Limited
Operating margin
Percent of revenue
CoupangSea Limited
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
CoupangSea Limited
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Coupang and Sea Limited pages.