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Side-by-side financial comparison of Brookfield Infrastructure Corp (BIPC) 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 $866.0M, roughly 1.1× Brookfield Infrastructure Corp). Maplebear Inc. runs the higher net margin — 8.2% vs -35.7%, a 43.8% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -4.6%).
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
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.
BIPC vs CART — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $866.0M | $992.0M |
| Net Profit | $-309.0M | $81.0M |
| Gross Margin | 65.0% | 72.3% |
| Operating Margin | 62.7% | 9.9% |
| Net Margin | -35.7% | 8.2% |
| Revenue YoY | -4.6% | 12.3% |
| Net Profit YoY | -148.1% | -45.3% |
| EPS (diluted) | — | $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 | — | $939.0M | ||
| Q2 25 | $866.0M | $914.0M | ||
| Q1 25 | — | $897.0M | ||
| Q4 24 | — | $883.0M | ||
| Q3 24 | — | $852.0M | ||
| Q2 24 | $908.0M | $823.0M | ||
| Q1 24 | — | $820.0M |
| Q4 25 | — | $81.0M | ||
| Q3 25 | — | $144.0M | ||
| Q2 25 | $-309.0M | $116.0M | ||
| Q1 25 | — | $106.0M | ||
| Q4 24 | — | $148.0M | ||
| Q3 24 | — | $118.0M | ||
| Q2 24 | $643.0M | $61.0M | ||
| Q1 24 | — | $130.0M |
| Q4 25 | — | 72.3% | ||
| Q3 25 | — | 73.7% | ||
| Q2 25 | 65.0% | 74.2% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 75.2% | ||
| Q3 24 | — | 75.2% | ||
| Q2 24 | 63.8% | 75.7% | ||
| Q1 24 | — | 74.9% |
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | 62.7% | 13.6% | ||
| Q1 25 | — | 12.3% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 16.2% | ||
| Q2 24 | 61.9% | 6.3% | ||
| Q1 24 | — | 17.6% |
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | -35.7% | 12.7% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | 70.8% | 7.4% | ||
| Q1 24 | — | 15.9% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | — | $0.51 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $0.53 | ||
| Q3 24 | — | $0.42 | ||
| Q2 24 | — | $0.20 | ||
| Q1 24 | — | $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 | $1.2B | $687.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $2.5B |
| Total Assets | $23.9B | $3.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $687.0M | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $466.0M | $1.4B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | $2.2B | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | $3.5B | $3.0B | ||
| Q1 24 | — | $3.1B |
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | $23.9B | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | $23.7B | $4.0B | ||
| Q1 24 | — | $4.1B |
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 | $478.0M | $183.0M |
| Free Cash FlowOCF − Capex | — | $171.0M |
| FCF MarginFCF / Revenue | — | 17.2% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | — | 2.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $910.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $183.0M | ||
| Q3 25 | — | $287.0M | ||
| Q2 25 | $478.0M | $203.0M | ||
| Q1 25 | — | $298.0M | ||
| Q4 24 | — | $153.0M | ||
| Q3 24 | — | $185.0M | ||
| Q2 24 | $511.0M | $244.0M | ||
| Q1 24 | — | $105.0M |
| Q4 25 | — | $171.0M | ||
| Q3 25 | — | $272.0M | ||
| Q2 25 | — | $187.0M | ||
| Q1 25 | — | $280.0M | ||
| Q4 24 | — | $141.0M | ||
| Q3 24 | — | $171.0M | ||
| Q2 24 | — | $220.0M | ||
| Q1 24 | — | $91.0M |
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 29.0% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 31.2% | ||
| Q4 24 | — | 16.0% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | — | 2.26× | ||
| Q3 25 | — | 1.99× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 2.81× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | 0.79× | 4.00× | ||
| Q1 24 | — | 0.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BIPC
Segment breakdown not available.
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
