CPNG vs ULTA
Coupang, Inc. and Ulta Beauty, Inc., side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | CPNG | ULTA |
|---|---|---|
| Revenue | $34.5B | $12.4B |
| Net income | $208.0M | $1.2B |
| Gross margin | 29.4% | 39.1% |
| Net margin | 0.6% | 9.3% |
| Return on equity | 4.8% | 43.6% |
| Diluted EPS | $0.11 | $25.64 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $522.0M | $1.1B |
| Equity | · | $2.8B |
| Net debt / equity | −1.23× | −0.13× |
| Current ratio | 1.04× | 1.41× |
| Revenue CAGR 5y | 23.6% | 15.0% |
| Profit CAGR 5y | · | 45.7% |
CPNG bills 2.8× the revenue of ULTA, and ULTA keeps more of each dollar of revenue as profit (9.3% against 0.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | CPNG | ULTA |
|---|---|---|
| FY2025 | $34.5B | $12.4B |
| FY2024 | $30.3B | $11.3B |
| FY2023 | $24.4B | $11.2B |
| FY2022 | $20.6B | $10.2B |
| FY2021 | $18.4B | $8.6B |
| FY2020 | $12.0B | $6.2B |
| FY2019 | $6.3B | $7.4B |
Bottom line
| Fiscal year | CPNG | ULTA |
|---|---|---|
| FY2025 | $208.0M | $1.2B |
| FY2024 | $154.0M | $1.2B |
| FY2023 | $1.4B | $1.3B |
| FY2022 | $-92.0M | $1.2B |
| FY2021 | $-1.5B | $985.8M |
| FY2020 | $-463.2M | $175.8M |
| FY2019 | $-696.9M | $705.9M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$22,141,180,000 | CPNG |
| FY2024 | +$18,972,346,000 | CPNG |
| FY2023 | +$13,175,697,000 | CPNG |
| FY2022 | +$10,374,420,000 | CPNG |
| FY2021 | +$9,775,111,000 | CPNG |
| FY2020 | +$5,815,386,000 | CPNG |
| FY2019 | −$1,124,805,000 | ULTA |
The higher-revenue side has changed between CPNG and ULTA over this period. The gap has widened since the earliest year compared.
7 of 17 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −8.7 pp | ULTA |
| FY2024 | −10.4 pp | ULTA |
| FY2023 | −5.9 pp | ULTA |
| FY2022 | −12.6 pp | ULTA |
| FY2021 | −19.8 pp | ULTA |
| FY2020 | −6.7 pp | ULTA |
| FY2019 | −20.7 pp | ULTA |
ULTA has kept the higher net margin in every one of these 7 fiscal years.
7 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CPNG's net margin has been more volatile than ULTA's over the 7 comparable fiscal years — 5.3 percentage points of standard deviation against 2.9.
7 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ULTA led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CPNG's return on equity has been more volatile than ULTA's over the 4 comparable fiscal years — 17.8 percentage points of standard deviation against 10.4.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ULTA led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 17 comparable fiscal years — a year missing data on either side is not counted.