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Side-by-side financial comparison of Maplebear Inc. (CART) and F5, Inc. (FFIV). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $811.7M, roughly 1.2× F5, Inc.). F5, Inc. runs the higher net margin — 18.2% vs 8.2%, a 10.1% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 11.0%). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 8.0%).
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.
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
CART vs FFIV — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $811.7M |
| Net Profit | $81.0M | $148.0M |
| Gross Margin | 72.3% | 81.4% |
| Operating Margin | 9.9% | 22.1% |
| Net Margin | 8.2% | 18.2% |
| Revenue YoY | 12.3% | 11.0% |
| Net Profit YoY | -45.3% | 1.5% |
| EPS (diluted) | $0.31 | $2.58 |
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 | — | $811.7M | ||
| Q4 25 | $992.0M | $822.5M | ||
| Q3 25 | $939.0M | $810.1M | ||
| Q2 25 | $914.0M | $780.4M | ||
| Q1 25 | $897.0M | $731.1M | ||
| Q4 24 | $883.0M | $766.5M | ||
| Q3 24 | $852.0M | $746.7M | ||
| Q2 24 | $823.0M | $695.5M |
| Q1 26 | — | $148.0M | ||
| Q4 25 | $81.0M | $180.1M | ||
| Q3 25 | $144.0M | $190.5M | ||
| Q2 25 | $116.0M | $189.9M | ||
| Q1 25 | $106.0M | $145.5M | ||
| Q4 24 | $148.0M | $166.4M | ||
| Q3 24 | $118.0M | $165.3M | ||
| Q2 24 | $61.0M | $144.1M |
| Q1 26 | — | 81.4% | ||
| Q4 25 | 72.3% | 81.5% | ||
| Q3 25 | 73.7% | 82.2% | ||
| Q2 25 | 74.2% | 81.0% | ||
| Q1 25 | 74.8% | 80.7% | ||
| Q4 24 | 75.2% | 81.7% | ||
| Q3 24 | 75.2% | 80.8% | ||
| Q2 24 | 75.7% | 80.4% |
| Q1 26 | — | 22.1% | ||
| Q4 25 | 9.9% | 26.0% | ||
| Q3 25 | 17.7% | 25.4% | ||
| Q2 25 | 13.6% | 25.2% | ||
| Q1 25 | 12.3% | 21.7% | ||
| Q4 24 | 17.6% | 26.8% | ||
| Q3 24 | 16.2% | 25.6% | ||
| Q2 24 | 6.3% | 23.4% |
| Q1 26 | — | 18.2% | ||
| Q4 25 | 8.2% | 21.9% | ||
| Q3 25 | 15.3% | 23.5% | ||
| Q2 25 | 12.7% | 24.3% | ||
| Q1 25 | 11.8% | 19.9% | ||
| Q4 24 | 16.8% | 21.7% | ||
| Q3 24 | 13.8% | 22.1% | ||
| Q2 24 | 7.4% | 20.7% |
| Q1 26 | — | $2.58 | ||
| Q4 25 | $0.31 | $3.10 | ||
| Q3 25 | $0.51 | $3.25 | ||
| Q2 25 | $0.41 | $3.25 | ||
| Q1 25 | $0.37 | $2.48 | ||
| Q4 24 | $0.53 | $2.82 | ||
| Q3 24 | $0.42 | $2.79 | ||
| Q2 24 | $0.20 | $2.44 |
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 | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $3.6B |
| Total Assets | $3.7B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.4B | ||
| Q4 25 | $687.0M | $1.2B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.6B | $1.4B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.4B | $935.6M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $2.5B | $3.5B | ||
| Q3 25 | $3.5B | $3.6B | ||
| Q2 25 | $3.3B | $3.5B | ||
| Q1 25 | $3.2B | $3.3B | ||
| Q4 24 | $3.1B | $3.2B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $3.0B | $3.0B |
| Q1 26 | — | $6.5B | ||
| Q4 25 | $3.7B | $6.3B | ||
| Q3 25 | $4.5B | $6.3B | ||
| Q2 25 | $4.4B | $6.1B | ||
| Q1 25 | $4.3B | $5.9B | ||
| Q4 24 | $4.1B | $5.9B | ||
| Q3 24 | $3.9B | $5.6B | ||
| Q2 24 | $4.0B | $5.4B |
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 | $525.1M |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | 3.55× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $525.1M | ||
| Q4 25 | $183.0M | $159.2M | ||
| Q3 25 | $287.0M | $208.1M | ||
| Q2 25 | $203.0M | $282.2M | ||
| Q1 25 | $298.0M | $256.6M | ||
| Q4 24 | $153.0M | $202.8M | ||
| Q3 24 | $185.0M | $246.5M | ||
| Q2 24 | $244.0M | $159.0M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $149.5M | ||
| Q3 25 | $272.0M | $191.9M | ||
| Q2 25 | $187.0M | $273.7M | ||
| Q1 25 | $280.0M | $246.1M | ||
| Q4 24 | $141.0M | $194.7M | ||
| Q3 24 | $171.0M | $240.4M | ||
| Q2 24 | $220.0M | $153.1M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | 18.2% | ||
| Q3 25 | 29.0% | 23.7% | ||
| Q2 25 | 20.5% | 35.1% | ||
| Q1 25 | 31.2% | 33.7% | ||
| Q4 24 | 16.0% | 25.4% | ||
| Q3 24 | 20.1% | 32.2% | ||
| Q2 24 | 26.7% | 22.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 1.2% | ||
| Q3 25 | 1.6% | 2.0% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 2.0% | 1.4% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 2.9% | 0.8% |
| Q1 26 | — | 3.55× | ||
| Q4 25 | 2.26× | 0.88× | ||
| Q3 25 | 1.99× | 1.09× | ||
| Q2 25 | 1.75× | 1.49× | ||
| Q1 25 | 2.81× | 1.76× | ||
| Q4 24 | 1.03× | 1.22× | ||
| Q3 24 | 1.57× | 1.49× | ||
| Q2 24 | 4.00× | 1.10× |
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% |
FFIV
Segment breakdown not available.
