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Side-by-side financial comparison of Maplebear Inc. (CART) and Celsius Holdings, Inc. (CELH). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $721.6M, roughly 1.4× Celsius Holdings, Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 3.4%, a 4.7% gap on every dollar of revenue. On growth, Celsius Holdings, Inc. posted the faster year-over-year revenue change (117.2% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $-130.0M). Over the past eight quarters, Celsius Holdings, Inc.'s revenue compounded faster (42.4% CAGR vs 10.0%).
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.
Celsius Holdings, Inc. is an American company that produces a range of fitness and energy drinks under the brand name Celsius. The company's products are marketed as healthy, to which the CEO attributes the brand's success.
CART vs CELH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $721.6M |
| Net Profit | $81.0M | $24.7M |
| Gross Margin | 72.3% | 47.4% |
| Operating Margin | 9.9% | 3.6% |
| Net Margin | 8.2% | 3.4% |
| Revenue YoY | 12.3% | 117.2% |
| Net Profit YoY | -45.3% | 231.1% |
| EPS (diluted) | $0.31 | $0.04 |
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 | $721.6M | ||
| Q3 25 | $939.0M | $725.1M | ||
| Q2 25 | $914.0M | $739.3M | ||
| Q1 25 | $897.0M | $329.3M | ||
| Q4 24 | $883.0M | $332.2M | ||
| Q3 24 | $852.0M | $265.7M | ||
| Q2 24 | $823.0M | $402.0M | ||
| Q1 24 | $820.0M | $355.7M |
| Q4 25 | $81.0M | $24.7M | ||
| Q3 25 | $144.0M | $-61.0M | ||
| Q2 25 | $116.0M | $99.9M | ||
| Q1 25 | $106.0M | $44.4M | ||
| Q4 24 | $148.0M | $-18.9M | ||
| Q3 24 | $118.0M | $6.4M | ||
| Q2 24 | $61.0M | $79.8M | ||
| Q1 24 | $130.0M | $77.8M |
| Q4 25 | 72.3% | 47.4% | ||
| Q3 25 | 73.7% | 51.3% | ||
| Q2 25 | 74.2% | 51.5% | ||
| Q1 25 | 74.8% | 52.3% | ||
| Q4 24 | 75.2% | 50.2% | ||
| Q3 24 | 75.2% | 46.0% | ||
| Q2 24 | 75.7% | 52.0% | ||
| Q1 24 | 74.9% | 51.2% |
| Q4 25 | 9.9% | 3.6% | ||
| Q3 25 | 17.7% | -11.0% | ||
| Q2 25 | 13.6% | 19.3% | ||
| Q1 25 | 12.3% | 15.8% | ||
| Q4 24 | 17.6% | -5.6% | ||
| Q3 24 | 16.2% | -1.2% | ||
| Q2 24 | 6.3% | 23.4% | ||
| Q1 24 | 17.6% | 23.4% |
| Q4 25 | 8.2% | 3.4% | ||
| Q3 25 | 15.3% | -8.4% | ||
| Q2 25 | 12.7% | 13.5% | ||
| Q1 25 | 11.8% | 13.5% | ||
| Q4 24 | 16.8% | -5.7% | ||
| Q3 24 | 13.8% | 2.4% | ||
| Q2 24 | 7.4% | 19.8% | ||
| Q1 24 | 15.9% | 21.9% |
| Q4 25 | $0.31 | $0.04 | ||
| Q3 25 | $0.51 | $-0.27 | ||
| Q2 25 | $0.41 | $0.33 | ||
| Q1 25 | $0.37 | $0.15 | ||
| Q4 24 | $0.53 | $-0.10 | ||
| Q3 24 | $0.42 | $0.00 | ||
| Q2 24 | $0.20 | $0.28 | ||
| Q1 24 | $0.43 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $687.0M | $398.9M |
| Total DebtLower is stronger | — | $676.9M |
| Stockholders' EquityBook value | $2.5B | $1.2B |
| Total Assets | $3.7B | $5.1B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $398.9M | ||
| Q3 25 | $1.7B | $806.0M | ||
| Q2 25 | $1.6B | $615.2M | ||
| Q1 25 | $1.6B | $977.3M | ||
| Q4 24 | $1.4B | $890.2M | ||
| Q3 24 | $1.3B | $903.7M | ||
| Q2 24 | $1.4B | $903.2M | ||
| Q1 24 | $1.5B | $879.5M |
| Q4 25 | — | $676.9M | ||
| Q3 25 | — | $870.5M | ||
| Q2 25 | — | $871.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $3.5B | $1.2B | ||
| Q2 25 | $3.3B | $1.3B | ||
| Q1 25 | $3.2B | $443.1M | ||
| Q4 24 | $3.1B | $399.9M | ||
| Q3 24 | $2.9B | $423.6M | ||
| Q2 24 | $3.0B | $415.8M | ||
| Q1 24 | $3.1B | $338.2M |
| Q4 25 | $3.7B | $5.1B | ||
| Q3 25 | $4.5B | $5.3B | ||
| Q2 25 | $4.4B | $3.8B | ||
| Q1 25 | $4.3B | $1.9B | ||
| Q4 24 | $4.1B | $1.8B | ||
| Q3 24 | $3.9B | $1.7B | ||
| Q2 24 | $4.0B | $1.7B | ||
| Q1 24 | $4.1B | $1.6B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.0M | $-119.4M |
| Free Cash FlowOCF − Capex | $171.0M | $-130.0M |
| FCF MarginFCF / Revenue | 17.2% | -18.0% |
| Capex IntensityCapex / Revenue | 1.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 2.26× | -4.83× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $323.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $-119.4M | ||
| Q3 25 | $287.0M | $331.8M | ||
| Q2 25 | $203.0M | $43.7M | ||
| Q1 25 | $298.0M | $103.4M | ||
| Q4 24 | $153.0M | $75.7M | ||
| Q3 24 | $185.0M | $12.9M | ||
| Q2 24 | $244.0M | $39.6M | ||
| Q1 24 | $105.0M | $134.6M |
| Q4 25 | $171.0M | $-130.0M | ||
| Q3 25 | $272.0M | $321.5M | ||
| Q2 25 | $187.0M | $35.5M | ||
| Q1 25 | $280.0M | $96.4M | ||
| Q4 24 | $141.0M | $70.3M | ||
| Q3 24 | $171.0M | $8.7M | ||
| Q2 24 | $220.0M | $30.4M | ||
| Q1 24 | $91.0M | $130.1M |
| Q4 25 | 17.2% | -18.0% | ||
| Q3 25 | 29.0% | 44.3% | ||
| Q2 25 | 20.5% | 4.8% | ||
| Q1 25 | 31.2% | 29.3% | ||
| Q4 24 | 16.0% | 21.2% | ||
| Q3 24 | 20.1% | 3.3% | ||
| Q2 24 | 26.7% | 7.6% | ||
| Q1 24 | 11.1% | 36.6% |
| Q4 25 | 1.2% | 1.5% | ||
| Q3 25 | 1.6% | 1.4% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 2.0% | 2.1% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.6% | 1.6% | ||
| Q2 24 | 2.9% | 2.3% | ||
| Q1 24 | 1.7% | 1.3% |
| Q4 25 | 2.26× | -4.83× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | 0.44× | ||
| Q1 25 | 2.81× | 2.33× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | 2.03× | ||
| Q2 24 | 4.00× | 0.50× | ||
| Q1 24 | 0.81× | 1.73× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
CELH
Segment breakdown not available.
