NYSE Shariah screener · October 2026
Is Coupang, Inc. (CPNG) Halal?
Coupang, Inc. · NYSE: CPNG · Consumer Discretionary
The short answer
Yes - Coupang, Inc. (CPNG) passes this Shariah stock screen on all three gates. The business is South Korean e-commerce and technology - Product Commerce (core retail, Rocket Fresh grocery, WOW membership, advertising; 85.7% of FY2025 revenue) and Developing Offerings (Eats food delivery, Play streaming, Coupang Pay fintech, Taiwan retail, Farfetch; 14.3%) - with no material haram segments disclosed in its FY2025 10-K (filed February 26, 2026). Interest-bearing debt of $2,603M (Q2 2026) is about 10.5% of its ~$24.9B market cap ($13.80 latest quote, October 2, 2026), below the ~33% ceiling. Interest income of $86M - separately disclosed in the Q2 2026 10-Q - is about 0.50% of revenue ($17,360M, six months ended June 30, 2026), below the 5% ceiling. Note: Musaffa classifies CPNG as halal (October 2026) and Zoya's app classifies it halal; no ShariaPortfolio rating was found.
Gate 1 — Business activity: PASS
Coupang, Inc. (NYSE: CPNG) is a South Korean e-commerce and technology company serving customers primarily in South Korea and Taiwan - per the FY2025 10-K. Two segments: Product Commerce - core Korean retail (owned inventory + third-party marketplace), Rocket Fresh grocery, WOW membership, associated advertising - FY2025 net revenue $29,592M (85.7%); and Developing Offerings - Eats (restaurant ordering/delivery), Play (online content streaming), fintech (Coupang Pay), Taiwan retail, and Farfetch (acquired January 2024) - FY2025 net revenue $4,942M (14.3%). Haram flags checked (factual, from the filings): no alcohol, gambling, weapons, pork-production, or interest-based lending businesses - Coupang Pay is a payments/e-money service with no disclosed interest-based lending; the marketplace sells non-halal goods as a general retailer, like Amazon. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
Per Coupang's Q2 2026 10-Q (period ended June 30, 2026; statements via the August 4, 2026 8-K), interest-bearing debt was $2,603M - short-term borrowings $1,985M plus long-term debt $618M. Against a market cap of about $24.9B ($13.80 latest quote, October 2, 2026), debt / market cap is about 10.5%, below the ~33% ceiling. Cash and cash equivalents of $6,110M are about 24.5% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: PASS
Coupang's Q2 2026 10-Q discloses interest income of $86M as a separate line for the six months ended June 30, 2026, against revenue of $17,360M - about 0.50% of revenue, well below the 5% ceiling (full-year FY2025: $199M vs $34,534M, about 0.58%; the 10-K states interest income 'primarily consists of interest earned on our deposits held with financial institutions'). Gate 3 passes on a directly disclosed figure. Facts only.
Key figures used
- Business: South Korean e-commerce/tech - Product Commerce 85.7% ($29,592M FY2025: retail, Rocket Fresh grocery, WOW, advertising) + Developing Offerings 14.3% ($4,942M: Eats, Play streaming, Coupang Pay fintech, Taiwan, Farfetch); no material haram segments disclosed in the FY2025 10-K
- Debt: $2,603M (short-term borrowings $1,985M + long-term debt $618M) - debt / market cap about 10.5% of ~$24.9B, under the ~33% ceiling
- Cash: $6,110M cash and cash equivalents (June 30, 2026), about 24.5% of market cap
- Interest income: $86M (separately disclosed, six months ended June 30, 2026) vs revenue $17,360M - about 0.50% of revenue, under the 5% ceiling; FY2025 $199M vs $34,534M (0.58%)
- Market cap: ~$24.9B ($13.80 latest quote, October 2, 2026); Q2 2026 10-Q (period ended June 30, 2026); FY2025 10-K filed February 26, 2026
- Musaffa: halal (October 2026); Zoya: halal (app, May 2024 community confirmation); ShariaPortfolio: no coverage found
- Result: PASS on all three gates
Frequently asked questions
What does Coupang do?
Coupang, Inc. (NYSE: CPNG) is a South Korean e-commerce and technology company serving customers primarily in South Korea and Taiwan. It reports two segments: Product Commerce - core Korean retail (owned inventory and third-party marketplace), Rocket Fresh grocery, WOW membership, and associated advertising - with FY2025 net revenue of $29,592M (85.7%); and Developing Offerings - Eats (restaurant ordering and delivery), Play (online content streaming), fintech (Coupang Pay), Taiwan retail, and Farfetch (luxury fashion marketplace, acquired January 2024) - with FY2025 net revenue of $4,942M (14.3%). The 10-K discloses no alcohol, gambling, weapons, pork-production, or interest-based lending businesses; Coupang Pay is a payments/e-money service with no disclosed interest-based lending, and the marketplace sells non-halal goods as a general retailer, like Amazon. Interest income 'primarily consists of interest earned on our deposits held with financial institutions.'
Why does Coupang pass this Shariah stock screen?
Coupang passes all three gates from its own filings. Gate 1: the business is e-commerce, grocery and food delivery, streaming, and payments - no material haram segments are disclosed in the filings. Gate 2: interest-bearing debt of $2,603M is about 10.5% of its ~$24.9B market cap ($13.80 latest quote, October 2, 2026), below the ~33% ceiling. Gate 3: separately disclosed interest income of $86M is about 0.50% of revenue ($17,360M, six months ended June 30, 2026), below the 5% ceiling. Note: Musaffa classifies CPNG as halal (October 2026) and Zoya's app classifies it halal (May 2024 community confirmation). This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
What is Coupang's interest-bearing debt ratio?
Per Coupang's Q2 2026 10-Q (period ended June 30, 2026; statements via the August 4, 2026 8-K), interest-bearing debt was $2,603M - short-term borrowings $1,985M plus long-term debt $618M. Against a market cap of about $24.9B ($13.80 latest quote on October 2, 2026), debt / market cap is about 10.5% - below the ~33% ceiling. Cash and cash equivalents of $6,110M are about 24.5% of market cap. Gate 2 passes.
What is Coupang's non-compliant income ratio?
Coupang's Q2 2026 10-Q discloses interest income of $86M as a separate line for the six months ended June 30, 2026, against revenue of $17,360M - about 0.50% of revenue, well below the 5% ceiling (full-year FY2025: $199M vs $34,534M, about 0.58%). The 10-K states interest income 'primarily consists of interest earned on our deposits held with financial institutions.' Gate 3 passes on a directly disclosed figure.
Do Zoya, Musaffa, or ShariaPortfolio cover Coupang?
Musaffa covers CPNG and classifies it as halal as of October 2026 (AAOIFI methodology; musaffa.com/stock/CPNG/). Zoya maintains a CPNG page citing FY2025 interest income $199M (0.58% of revenue); its app classifies CPNG as halal per a May 2024 Zoya community-team confirmation. No ShariaPortfolio screening page or rating for CPNG was found - reported as absent, not invented. This page applies the screen directly from Coupang's own SEC filings and reports these positions honestly.
Sources
- Coupang - FY2025 10-K, filed Feb 26, 2026 (segments: Product Commerce $29,592M, Developing Offerings $4,942M; FY2025 revenue $34,534M; interest income $199M; 'primarily consists of interest earned on our deposits held with financial institutions')
- Coupang - Q2 2026 results 8-K, Aug 4, 2026 (balance sheet Jun 30, 2026: short-term borrowings $1,985M, long-term debt $618M; cash $6,110M; income statement: revenue $17,360M six months, interest income $86M six months)
- Finnhub - CPNG market data (XNYS; $13.80 latest quote, ~$24.90B market cap, October 2, 2026)
- Musaffa - Coupang (CPNG) stock page (status: halal, October 2026)
- Zoya - Coupang (CPNG) stock page (FY2025 figures; app classification halal per May 2024 community confirmation)
Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).