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Side-by-side financial comparison of Maplebear Inc. (CART) and CVR ENERGY INC (CVI). Click either name above to swap in a different company.
CVR ENERGY INC is the larger business by last-quarter revenue ($2.0B vs $992.0M, roughly 2.0× Maplebear Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs -8.1%, a 16.2% gap on every dollar of revenue. On growth, CVR ENERGY INC posted the faster year-over-year revenue change (20.3% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $21.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 0.3%).
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.
CVR Energy Inc is a United States-based energy holding company operating two core segments: petroleum refining and nitrogen fertilizer manufacturing. It produces a wide range of products including gasoline, diesel, jet fuel, and agricultural fertilizers, primarily serving commercial, industrial and agricultural customers across North America.
CART vs CVI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $2.0B |
| Net Profit | $81.0M | $-160.0M |
| Gross Margin | 72.3% | -5.2% |
| Operating Margin | 9.9% | — |
| Net Margin | 8.2% | -8.1% |
| Revenue YoY | 12.3% | 20.3% |
| Net Profit YoY | -45.3% | -56.1% |
| EPS (diluted) | $0.31 | $-1.91 |
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.
| Q1 26 | — | $2.0B | ||
| Q4 25 | $992.0M | $1.8B | ||
| Q3 25 | $939.0M | $1.9B | ||
| Q2 25 | $914.0M | $1.8B | ||
| Q1 25 | $897.0M | $1.6B | ||
| Q4 24 | $883.0M | $1.9B | ||
| Q3 24 | $852.0M | $1.8B | ||
| Q2 24 | $823.0M | $2.0B |
| Q1 26 | — | $-160.0M | ||
| Q4 25 | $81.0M | $-110.0M | ||
| Q3 25 | $144.0M | $374.0M | ||
| Q2 25 | $116.0M | $-114.0M | ||
| Q1 25 | $106.0M | $-123.0M | ||
| Q4 24 | $148.0M | $28.0M | ||
| Q3 24 | $118.0M | $-124.0M | ||
| Q2 24 | $61.0M | $21.0M |
| Q1 26 | — | -5.2% | ||
| Q4 25 | 72.3% | -3.1% | ||
| Q3 25 | 73.7% | 28.8% | ||
| Q2 25 | 74.2% | -3.7% | ||
| Q1 25 | 74.8% | -5.5% | ||
| Q4 24 | 75.2% | 3.0% | ||
| Q3 24 | 75.2% | -3.9% | ||
| Q2 24 | 75.7% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 9.9% | -5.3% | ||
| Q3 25 | 17.7% | 26.3% | ||
| Q2 25 | 13.6% | -5.8% | ||
| Q1 25 | 12.3% | -8.0% | ||
| Q4 24 | 17.6% | 1.1% | ||
| Q3 24 | 16.2% | -6.2% | ||
| Q2 24 | 6.3% | 1.4% |
| Q1 26 | — | -8.1% | ||
| Q4 25 | 8.2% | -6.1% | ||
| Q3 25 | 15.3% | 19.2% | ||
| Q2 25 | 12.7% | -6.5% | ||
| Q1 25 | 11.8% | -7.5% | ||
| Q4 24 | 16.8% | 1.4% | ||
| Q3 24 | 13.8% | -6.8% | ||
| Q2 24 | 7.4% | 1.1% |
| Q1 26 | — | $-1.91 | ||
| Q4 25 | $0.31 | $-1.09 | ||
| Q3 25 | $0.51 | $3.72 | ||
| Q2 25 | $0.41 | $-1.14 | ||
| Q1 25 | $0.37 | $-1.22 | ||
| Q4 24 | $0.53 | $0.28 | ||
| Q3 24 | $0.42 | $-1.24 | ||
| Q2 24 | $0.20 | $0.21 |
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 | $512.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | — |
| Total Assets | $3.7B | $3.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $512.0M | ||
| Q4 25 | $687.0M | $511.0M | ||
| Q3 25 | $1.7B | $670.0M | ||
| Q2 25 | $1.6B | $596.0M | ||
| Q1 25 | $1.6B | $695.0M | ||
| Q4 24 | $1.4B | $987.0M | ||
| Q3 24 | $1.3B | $534.0M | ||
| Q2 24 | $1.4B | $586.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $730.0M | ||
| Q3 25 | $3.5B | $840.0M | ||
| Q2 25 | $3.3B | $466.0M | ||
| Q1 25 | $3.2B | $580.0M | ||
| Q4 24 | $3.1B | $703.0M | ||
| Q3 24 | $2.9B | $675.0M | ||
| Q2 24 | $3.0B | $849.0M |
| Q1 26 | — | $3.9B | ||
| Q4 25 | $3.7B | $3.7B | ||
| Q3 25 | $4.5B | $4.0B | ||
| Q2 25 | $4.4B | $4.0B | ||
| Q1 25 | $4.3B | $4.3B | ||
| Q4 24 | $4.1B | $4.3B | ||
| Q3 24 | $3.9B | $3.9B | ||
| Q2 24 | $4.0B | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.40× | ||
| Q3 25 | — | 2.17× | ||
| Q2 25 | — | 3.97× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.33× | ||
| Q2 24 | — | 1.86× |
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 | — |
| Free Cash FlowOCF − Capex | $171.0M | $21.0M |
| FCF MarginFCF / Revenue | 17.2% | 1.1% |
| Capex IntensityCapex / Revenue | 1.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $183.0M | $0 | ||
| Q3 25 | $287.0M | $163.0M | ||
| Q2 25 | $203.0M | $176.0M | ||
| Q1 25 | $298.0M | $-195.0M | ||
| Q4 24 | $153.0M | $98.0M | ||
| Q3 24 | $185.0M | $48.0M | ||
| Q2 24 | $244.0M | $81.0M |
| Q1 26 | — | $21.0M | ||
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | $125.0M | ||
| Q2 25 | $187.0M | $135.0M | ||
| Q1 25 | $280.0M | $-246.0M | ||
| Q4 24 | $141.0M | $43.0M | ||
| Q3 24 | $171.0M | $14.0M | ||
| Q2 24 | $220.0M | $38.0M |
| Q1 26 | — | 1.1% | ||
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | 6.4% | ||
| Q2 25 | 20.5% | 7.7% | ||
| Q1 25 | 31.2% | -14.9% | ||
| Q4 24 | 16.0% | 2.2% | ||
| Q3 24 | 20.1% | 0.8% | ||
| Q2 24 | 26.7% | 1.9% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 1.2% | 3.0% | ||
| Q3 25 | 1.6% | 2.0% | ||
| Q2 25 | 1.8% | 2.3% | ||
| Q1 25 | 2.0% | 3.1% | ||
| Q4 24 | 1.4% | 2.8% | ||
| Q3 24 | 1.6% | 1.9% | ||
| Q2 24 | 2.9% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 0.44× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | 3.50× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | 3.86× |
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% |
CVI
Segment breakdown not available.
