Coupang, Inc. (CPNG) vs DoorDash, Inc. (DASH)

Coupang, Inc. and DoorDash, Inc. are both Internet Retail companies. DoorDash, Inc. is the larger, with a market value of $78.5B against $29.4B — 2.7× the size. Coupang, Inc. has negative trailing earnings, so its P/E is not meaningful; DoorDash, Inc. trades at 74.2×. DoorDash, Inc. grew revenue faster over the last twelve months: 35.0% against 7.41%. DoorDash, Inc. has the higher net margin (6.23% vs −3.77%) and the higher return on invested capital (7.82% vs −107.5%). Across the 18 metrics below, DoorDash, Inc. leads on 15 and Coupang, Inc. on 3.

Valuation

Metric CPNG DASH Internet Retail median
P/E n/m 74.17 23.90
P/S 0.82 4.61 0.71
P/B 10.45 7.34 1.80
Price to free cash flow n/m 35.69 15.07
EV/EBITDA n/m 35.46 17.34
EV/Sales 0.76 4.42 0.77
Earnings yield (4.63%) 1.35% 0.46%
Free cash flow yield (1.38%) 2.80% (0.39%)

Profitability

Metric CPNG DASH Internet Retail median
Gross margin 27.37% 51.91% 44.04%
Operating margin (3.43%) 5.25% 0.08%
Net margin (3.77%) 6.23% 1.15%
Free cash flow margin (1.13%) 12.91% 0.00%
Return on equity (35.97%) 10.52% 0.00%
Return on assets (7.38%) 5.51% 0.00%
Return on invested capital (107.49%) 7.82% 0.00%

Growth

Metric CPNG DASH Internet Retail median
Revenue growth (TTM) 7.41% 35.03% 10.82%
EPS growth (last fiscal year) 37.50% 634.48% 19.82%
Revenue growth, 5-year CAGR 23.61% 36.58% 10.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CPNG DASH Internet Retail median
Debt to equity 1.21 0.25 0.12
Current ratio 0.80 1.46 1.52
Net debt to EBITDA (5.82) (1.97) (0.66)

Dividend

Metric CPNG DASH Internet Retail median
Dividend yield — — 1.66%
Payout ratio — — 0.27

Size

Metric CPNG DASH Internet Retail median
Market cap 29.43b 78.45b 566.40m

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