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Side-by-side financial comparison of Maplebear Inc. (CART) and Coca-Cola Consolidated, Inc. (COKE). Click either name above to swap in a different company.
Coca-Cola Consolidated, Inc. is the larger business by last-quarter revenue ($1.9B vs $992.0M, roughly 1.9× Maplebear Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 7.2%, a 1.0% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 9.0%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $106.7M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 9.4%).
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.
Coca-Cola Consolidated, Inc., headquartered in Charlotte, North Carolina, is the largest independent Coca-Cola bottler in the United States.
CART vs COKE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.9B |
| Net Profit | $81.0M | $137.3M |
| Gross Margin | 72.3% | 39.6% |
| Operating Margin | 9.9% | 12.7% |
| Net Margin | 8.2% | 7.2% |
| Revenue YoY | 12.3% | 9.0% |
| Net Profit YoY | -45.3% | -23.3% |
| 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 | $1.9B | ||
| Q3 25 | $939.0M | $1.9B | ||
| Q2 25 | $914.0M | $1.9B | ||
| Q1 25 | $897.0M | $1.6B | ||
| Q4 24 | $883.0M | $1.7B | ||
| Q3 24 | $852.0M | $1.8B | ||
| Q2 24 | $823.0M | $1.8B | ||
| Q1 24 | $820.0M | $1.6B |
| Q4 25 | $81.0M | $137.3M | ||
| Q3 25 | $144.0M | $142.3M | ||
| Q2 25 | $116.0M | $187.4M | ||
| Q1 25 | $106.0M | $103.6M | ||
| Q4 24 | $148.0M | $178.9M | ||
| Q3 24 | $118.0M | $115.6M | ||
| Q2 24 | $61.0M | $172.8M | ||
| Q1 24 | $130.0M | $165.7M |
| Q4 25 | 72.3% | 39.6% | ||
| Q3 25 | 73.7% | 39.6% | ||
| Q2 25 | 74.2% | 40.0% | ||
| Q1 25 | 74.8% | 39.7% | ||
| Q4 24 | 75.2% | 40.0% | ||
| Q3 24 | 75.2% | 39.5% | ||
| Q2 24 | 75.7% | 39.9% | ||
| Q1 24 | 74.9% | 40.2% |
| Q4 25 | 9.9% | 12.7% | ||
| Q3 25 | 17.7% | 13.1% | ||
| Q2 25 | 13.6% | 14.7% | ||
| Q1 25 | 12.3% | 12.0% | ||
| Q4 24 | 17.6% | 12.5% | ||
| Q3 24 | 16.2% | 12.9% | ||
| Q2 24 | 6.3% | 14.4% | ||
| Q1 24 | 17.6% | 13.5% |
| Q4 25 | 8.2% | 7.2% | ||
| Q3 25 | 15.3% | 7.5% | ||
| Q2 25 | 12.7% | 10.1% | ||
| Q1 25 | 11.8% | 6.6% | ||
| Q4 24 | 16.8% | 10.2% | ||
| Q3 24 | 13.8% | 6.5% | ||
| Q2 24 | 7.4% | 9.6% | ||
| Q1 24 | 15.9% | 10.4% |
| 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 | $687.0M | $281.9M |
| Total DebtLower is stronger | — | $2.8B |
| Stockholders' EquityBook value | $2.5B | $-739.7M |
| Total Assets | $3.7B | $4.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $281.9M | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $1.5B | $401.3M |
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $599.3M |
| Q4 25 | $2.5B | $-739.7M | ||
| Q3 25 | $3.5B | $1.6B | ||
| Q2 25 | $3.3B | $1.6B | ||
| Q1 25 | $3.2B | $1.5B | ||
| Q4 24 | $3.1B | $1.4B | ||
| Q3 24 | $2.9B | $1.3B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.1B | $1.6B |
| Q4 25 | $3.7B | $4.3B | ||
| Q3 25 | $4.5B | $5.7B | ||
| Q2 25 | $4.4B | $5.5B | ||
| Q1 25 | $4.3B | $5.4B | ||
| Q4 24 | $4.1B | $5.3B | ||
| Q3 24 | $3.9B | $5.3B | ||
| Q2 24 | $4.0B | $5.7B | ||
| Q1 24 | $4.1B | $4.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.09× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | 0.37× |
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 | $209.0M |
| Free Cash FlowOCF − Capex | $171.0M | $106.7M |
| FCF MarginFCF / Revenue | 17.2% | 5.6% |
| Capex IntensityCapex / Revenue | 1.2% | 5.4% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $619.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $209.0M | ||
| Q3 25 | $287.0M | $316.7M | ||
| Q2 25 | $203.0M | $208.1M | ||
| Q1 25 | $298.0M | $198.2M | ||
| Q4 24 | $153.0M | $168.5M | ||
| Q3 24 | $185.0M | $270.8M | ||
| Q2 24 | $244.0M | $242.9M | ||
| Q1 24 | $105.0M | $194.3M |
| Q4 25 | $171.0M | $106.7M | ||
| Q3 25 | $272.0M | $264.1M | ||
| Q2 25 | $187.0M | $148.5M | ||
| Q1 25 | $280.0M | $100.3M | ||
| Q4 24 | $141.0M | $84.8M | ||
| Q3 24 | $171.0M | $142.8M | ||
| Q2 24 | $220.0M | $160.5M | ||
| Q1 24 | $91.0M | $117.2M |
| Q4 25 | 17.2% | 5.6% | ||
| Q3 25 | 29.0% | 14.0% | ||
| Q2 25 | 20.5% | 8.0% | ||
| Q1 25 | 31.2% | 6.3% | ||
| Q4 24 | 16.0% | 4.9% | ||
| Q3 24 | 20.1% | 8.1% | ||
| Q2 24 | 26.7% | 8.9% | ||
| Q1 24 | 11.1% | 7.4% |
| Q4 25 | 1.2% | 5.4% | ||
| Q3 25 | 1.6% | 2.8% | ||
| Q2 25 | 1.8% | 3.2% | ||
| Q1 25 | 2.0% | 6.2% | ||
| Q4 24 | 1.4% | 4.8% | ||
| Q3 24 | 1.6% | 7.2% | ||
| Q2 24 | 2.9% | 4.6% | ||
| Q1 24 | 1.7% | 4.8% |
| Q4 25 | 2.26× | 1.52× | ||
| Q3 25 | 1.99× | 2.22× | ||
| Q2 25 | 1.75× | 1.11× | ||
| Q1 25 | 2.81× | 1.91× | ||
| Q4 24 | 1.03× | 0.94× | ||
| Q3 24 | 1.57× | 2.34× | ||
| Q2 24 | 4.00× | 1.41× | ||
| Q1 24 | 0.81× | 1.17× |
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% |
COKE
| Transferred At Point In Time | $1.9B | 99% |
| Transferred Over Time | $15.1M | 1% |
