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Side-by-side financial comparison of Maplebear Inc. (CART) and Dynatrace, Inc. (DT). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $515.5M, roughly 1.9× Dynatrace, Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 7.8%, a 0.4% gap on every dollar of revenue. On growth, Dynatrace, Inc. posted the faster year-over-year revenue change (18.2% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $27.2M). Over the past eight quarters, Dynatrace, Inc.'s revenue compounded faster (16.3% 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.
Dynatrace, Inc. is an American multinational technology company that provides an AI-powered observability platform. Their software is used to monitor, analyze, and optimize application performance, software development, cyber security practices, IT infrastructure, and user experience.
CART vs DT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $515.5M |
| Net Profit | $81.0M | $40.1M |
| Gross Margin | 72.3% | 81.4% |
| Operating Margin | 9.9% | 14.1% |
| Net Margin | 8.2% | 7.8% |
| Revenue YoY | 12.3% | 18.2% |
| Net Profit YoY | -45.3% | -88.9% |
| EPS (diluted) | $0.31 | $0.13 |
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 | $515.5M | ||
| Q3 25 | $939.0M | $493.8M | ||
| Q2 25 | $914.0M | $477.3M | ||
| Q1 25 | $897.0M | $445.2M | ||
| Q4 24 | $883.0M | $436.2M | ||
| Q3 24 | $852.0M | $418.1M | ||
| Q2 24 | $823.0M | $399.2M | ||
| Q1 24 | $820.0M | $380.8M |
| Q4 25 | $81.0M | $40.1M | ||
| Q3 25 | $144.0M | $57.2M | ||
| Q2 25 | $116.0M | $48.0M | ||
| Q1 25 | $106.0M | $39.3M | ||
| Q4 24 | $148.0M | $361.8M | ||
| Q3 24 | $118.0M | $44.0M | ||
| Q2 24 | $61.0M | $38.6M | ||
| Q1 24 | $130.0M | $37.9M |
| Q4 25 | 72.3% | 81.4% | ||
| Q3 25 | 73.7% | 81.8% | ||
| Q2 25 | 74.2% | 82.1% | ||
| Q1 25 | 74.8% | 80.9% | ||
| Q4 24 | 75.2% | 81.1% | ||
| Q3 24 | 75.2% | 81.4% | ||
| Q2 24 | 75.7% | 81.3% | ||
| Q1 24 | 74.9% | 81.1% |
| Q4 25 | 9.9% | 14.1% | ||
| Q3 25 | 17.7% | 14.8% | ||
| Q2 25 | 13.6% | 13.1% | ||
| Q1 25 | 12.3% | 9.6% | ||
| Q4 24 | 17.6% | 10.9% | ||
| Q3 24 | 16.2% | 11.2% | ||
| Q2 24 | 6.3% | 10.5% | ||
| Q1 24 | 17.6% | 6.1% |
| Q4 25 | 8.2% | 7.8% | ||
| Q3 25 | 15.3% | 11.6% | ||
| Q2 25 | 12.7% | 10.0% | ||
| Q1 25 | 11.8% | 8.8% | ||
| Q4 24 | 16.8% | 82.9% | ||
| Q3 24 | 13.8% | 10.5% | ||
| Q2 24 | 7.4% | 9.7% | ||
| Q1 24 | 15.9% | 10.0% |
| Q4 25 | $0.31 | $0.13 | ||
| Q3 25 | $0.51 | $0.19 | ||
| Q2 25 | $0.41 | $0.16 | ||
| Q1 25 | $0.37 | $0.12 | ||
| Q4 24 | $0.53 | $1.19 | ||
| Q3 24 | $0.42 | $0.15 | ||
| Q2 24 | $0.20 | $0.13 | ||
| Q1 24 | $0.43 | $0.13 |
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 | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.7B |
| Total Assets | $3.7B | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $1.2B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $1.5B | $836.9M |
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $3.5B | $2.8B | ||
| Q2 25 | $3.3B | $2.7B | ||
| Q1 25 | $3.2B | $2.6B | ||
| Q4 24 | $3.1B | $2.6B | ||
| Q3 24 | $2.9B | $2.1B | ||
| Q2 24 | $3.0B | $2.1B | ||
| Q1 24 | $3.1B | $2.0B |
| Q4 25 | $3.7B | $4.1B | ||
| Q3 25 | $4.5B | $4.1B | ||
| Q2 25 | $4.4B | $4.1B | ||
| Q1 25 | $4.3B | $4.1B | ||
| Q4 24 | $4.1B | $3.7B | ||
| Q3 24 | $3.9B | $3.3B | ||
| Q2 24 | $4.0B | $3.3B | ||
| Q1 24 | $4.1B | $3.4B |
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 | $33.8M |
| Free Cash FlowOCF − Capex | $171.0M | $27.2M |
| FCF MarginFCF / Revenue | 17.2% | 5.3% |
| Capex IntensityCapex / Revenue | 1.2% | 1.3% |
| Cash ConversionOCF / Net Profit | 2.26× | 0.84× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $465.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $33.8M | ||
| Q3 25 | $287.0M | $32.0M | ||
| Q2 25 | $203.0M | $269.7M | ||
| Q1 25 | $298.0M | $162.8M | ||
| Q4 24 | $153.0M | $42.2M | ||
| Q3 24 | $185.0M | $23.6M | ||
| Q2 24 | $244.0M | $230.7M | ||
| Q1 24 | $105.0M | $131.7M |
| Q4 25 | $171.0M | $27.2M | ||
| Q3 25 | $272.0M | $27.8M | ||
| Q2 25 | $187.0M | $262.2M | ||
| Q1 25 | $280.0M | $148.2M | ||
| Q4 24 | $141.0M | $37.6M | ||
| Q3 24 | $171.0M | $20.1M | ||
| Q2 24 | $220.0M | $227.4M | ||
| Q1 24 | $91.0M | $121.9M |
| Q4 25 | 17.2% | 5.3% | ||
| Q3 25 | 29.0% | 5.6% | ||
| Q2 25 | 20.5% | 54.9% | ||
| Q1 25 | 31.2% | 33.3% | ||
| Q4 24 | 16.0% | 8.6% | ||
| Q3 24 | 20.1% | 4.8% | ||
| Q2 24 | 26.7% | 57.0% | ||
| Q1 24 | 11.1% | 32.0% |
| Q4 25 | 1.2% | 1.3% | ||
| Q3 25 | 1.6% | 0.8% | ||
| Q2 25 | 1.8% | 1.6% | ||
| Q1 25 | 2.0% | 3.3% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 2.9% | 0.8% | ||
| Q1 24 | 1.7% | 2.6% |
| Q4 25 | 2.26× | 0.84× | ||
| Q3 25 | 1.99× | 0.56× | ||
| Q2 25 | 1.75× | 5.62× | ||
| Q1 25 | 2.81× | 4.14× | ||
| Q4 24 | 1.03× | 0.12× | ||
| Q3 24 | 1.57× | 0.54× | ||
| Q2 24 | 4.00× | 5.97× | ||
| Q1 24 | 0.81× | 3.47× |
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% |
DT
| Subscription And Circulation | $493.4M | 96% |
| Services | $22.1M | 4% |
