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Side-by-side financial comparison of Atour Lifestyle Holdings Ltd (ATAT) and Maplebear Inc. (CART). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $789.6M, roughly 1.3× Atour Lifestyle Holdings Ltd). Atour Lifestyle Holdings Ltd runs the higher net margin — 17.6% vs 8.2%, a 9.5% gap on every dollar of revenue. On growth, Atour Lifestyle Holdings Ltd posted the faster year-over-year revenue change (252.5% vs 12.3%). Atour Lifestyle Holdings Ltd produced more free cash flow last quarter ($210.7M vs $171.0M).
Atour Lifestyle Holdings Ltd is a leading China-based hospitality and lifestyle enterprise. It operates a wide portfolio of mid-to-premium hotel brands for business and leisure travelers, and offers complementary lifestyle retail products and experience services, catering primarily to middle-class consumers across domestic and selected overseas markets.
Maplebear Inc., doing business as Instacart, is an American retail media and delivery company based in San Francisco that operates a grocery delivery and pick-up service in the United States and Canada accessible via a website and mobile app. It allows customers to order groceries, and alcohol where legal, from participating retailers with the shopping being done by a personal shopper, who picks, packs, and delivers the order.
ATAT vs CART — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $789.6M | $992.0M |
| Net Profit | $139.1M | $81.0M |
| Gross Margin | — | 72.3% |
| Operating Margin | 22.5% | 9.9% |
| Net Margin | 17.6% | 8.2% |
| Revenue YoY | 252.5% | 12.3% |
| Net Profit YoY | 322.2% | -45.3% |
| EPS (diluted) | $0.33 | $0.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $992.0M | ||
| Q3 25 | $789.6M | $939.0M | ||
| Q2 25 | — | $914.0M | ||
| Q1 25 | — | $897.0M | ||
| Q4 24 | — | $883.0M | ||
| Q3 24 | $224.0M | $852.0M | ||
| Q2 24 | — | $823.0M | ||
| Q1 24 | $203.4M | $820.0M |
| Q4 25 | — | $81.0M | ||
| Q3 25 | $139.1M | $144.0M | ||
| Q2 25 | — | $116.0M | ||
| Q1 25 | — | $106.0M | ||
| Q4 24 | — | $148.0M | ||
| Q3 24 | $33.0M | $118.0M | ||
| Q2 24 | — | $61.0M | ||
| Q1 24 | $35.6M | $130.0M |
| Q4 25 | — | 72.3% | ||
| Q3 25 | — | 73.7% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 75.2% | ||
| Q3 24 | — | 75.2% | ||
| Q2 24 | — | 75.7% | ||
| Q1 24 | — | 74.9% |
| Q4 25 | — | 9.9% | ||
| Q3 25 | 22.5% | 17.7% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | — | 12.3% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | 14.7% | 16.2% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | 22.1% | 17.6% |
| Q4 25 | — | 8.2% | ||
| Q3 25 | 17.6% | 15.3% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | 14.7% | 13.8% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | 17.5% | 15.9% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | $0.33 | $0.51 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $0.53 | ||
| Q3 24 | $0.08 | $0.42 | ||
| Q2 24 | — | $0.20 | ||
| Q1 24 | $0.09 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $669.2M | $687.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.0M | $2.5B |
| Total Assets | $1.1B | $3.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $687.0M | ||
| Q3 25 | $669.2M | $1.7B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $506.0M | $1.3B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $520.7M | $1.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $277.0K | — |
| Q4 25 | — | $2.5B | ||
| Q3 25 | $405.0M | $3.5B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $291.3M | $2.9B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $323.5M | $3.1B |
| Q4 25 | — | $3.7B | ||
| Q3 25 | $1.1B | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | $927.8M | $3.9B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | $936.3M | $4.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $216.6M | $183.0M |
| Free Cash FlowOCF − Capex | $210.7M | $171.0M |
| FCF MarginFCF / Revenue | 26.7% | 17.2% |
| Capex IntensityCapex / Revenue | 0.8% | 1.2% |
| Cash ConversionOCF / Net Profit | 1.56× | 2.26× |
| TTM Free Cash FlowTrailing 4 quarters | $359.6M | $910.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $183.0M | ||
| Q3 25 | $216.6M | $287.0M | ||
| Q2 25 | — | $203.0M | ||
| Q1 25 | — | $298.0M | ||
| Q4 24 | — | $153.0M | ||
| Q3 24 | $84.8M | $185.0M | ||
| Q2 24 | — | $244.0M | ||
| Q1 24 | $19.8M | $105.0M |
| Q4 25 | — | $171.0M | ||
| Q3 25 | $210.7M | $272.0M | ||
| Q2 25 | — | $187.0M | ||
| Q1 25 | — | $280.0M | ||
| Q4 24 | — | $141.0M | ||
| Q3 24 | $83.3M | $171.0M | ||
| Q2 24 | — | $220.0M | ||
| Q1 24 | $18.1M | $91.0M |
| Q4 25 | — | 17.2% | ||
| Q3 25 | 26.7% | 29.0% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 31.2% | ||
| Q4 24 | — | 16.0% | ||
| Q3 24 | 37.2% | 20.1% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | 8.9% | 11.1% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | 0.8% | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 0.7% | 1.6% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | 0.9% | 1.7% |
| Q4 25 | — | 2.26× | ||
| Q3 25 | 1.56× | 1.99× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 2.81× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | 2.57× | 1.57× | ||
| Q2 24 | — | 4.00× | ||
| Q1 24 | 0.56× | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATAT
Segment breakdown not available.
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
