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Side-by-side financial comparison of Maplebear Inc. (CART) and Fidelity National Financial, Inc. (FNF). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $544.0M, roughly 1.8× Fidelity National Financial, Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs -21.5%, a 29.7% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 10.3%). Over the past eight quarters, Fidelity National Financial, Inc.'s revenue compounded faster (13.7% 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.
Fidelity National Financial, Inc., is an American provider of title insurance and settlement services to the real estate and mortgage industries. A Fortune 500 company, Fidelity National Financial generated approximately $8.469 billion in annual revenue in 2019 from its title and real estate-related operations. The company was the first instance of an attorney licensed by a Native American Tribe being certified as "authorized house counsel" in the state of Florida.
CART vs FNF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $544.0M |
| Net Profit | $81.0M | $-117.0M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 82.9% |
| Net Margin | 8.2% | -21.5% |
| Revenue YoY | 12.3% | 10.3% |
| Net Profit YoY | -45.3% | -126.0% |
| EPS (diluted) | $0.31 | $-0.44 |
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 | $544.0M | ||
| Q3 25 | $939.0M | $553.0M | ||
| Q2 25 | $914.0M | $547.0M | ||
| Q1 25 | $897.0M | $455.0M | ||
| Q4 24 | $883.0M | $493.0M | ||
| Q3 24 | $852.0M | $506.0M | ||
| Q2 24 | $823.0M | $504.0M | ||
| Q1 24 | $820.0M | $421.0M |
| Q4 25 | $81.0M | $-117.0M | ||
| Q3 25 | $144.0M | $358.0M | ||
| Q2 25 | $116.0M | $278.0M | ||
| Q1 25 | $106.0M | $83.0M | ||
| Q4 24 | $148.0M | $450.0M | ||
| Q3 24 | $118.0M | $266.0M | ||
| Q2 24 | $61.0M | $306.0M | ||
| Q1 24 | $130.0M | $248.0M |
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 75.2% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 75.7% | — | ||
| Q1 24 | 74.9% | — |
| Q4 25 | 9.9% | 82.9% | ||
| Q3 25 | 17.7% | 81.9% | ||
| Q2 25 | 13.6% | 69.8% | ||
| Q1 25 | 12.3% | 24.4% | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 16.2% | 61.9% | ||
| Q2 24 | 6.3% | 90.9% | ||
| Q1 24 | 17.6% | 78.6% |
| Q4 25 | 8.2% | -21.5% | ||
| Q3 25 | 15.3% | 64.7% | ||
| Q2 25 | 12.7% | 50.8% | ||
| Q1 25 | 11.8% | 18.2% | ||
| Q4 24 | 16.8% | 91.3% | ||
| Q3 24 | 13.8% | 52.6% | ||
| Q2 24 | 7.4% | 60.7% | ||
| Q1 24 | 15.9% | 58.9% |
| Q4 25 | $0.31 | $-0.44 | ||
| Q3 25 | $0.51 | $1.33 | ||
| Q2 25 | $0.41 | $1.02 | ||
| Q1 25 | $0.37 | $0.30 | ||
| Q4 24 | $0.53 | $1.65 | ||
| Q3 24 | $0.42 | $0.97 | ||
| Q2 24 | $0.20 | $1.12 | ||
| Q1 24 | $0.43 | $0.91 |
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 | $2.6B |
| Total DebtLower is stronger | — | $4.4B |
| Stockholders' EquityBook value | $2.5B | $7.4B |
| Total Assets | $3.7B | $109.0B |
| Debt / EquityLower = less leverage | — | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $2.6B | ||
| Q3 25 | $1.7B | $3.5B | ||
| Q2 25 | $1.6B | $3.3B | ||
| Q1 25 | $1.6B | $4.5B | ||
| Q4 24 | $1.4B | $3.5B | ||
| Q3 24 | $1.3B | $5.0B | ||
| Q2 24 | $1.4B | $4.9B | ||
| Q1 24 | $1.5B | $3.5B |
| Q4 25 | — | $4.4B | ||
| Q3 25 | — | $4.4B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $3.9B |
| Q4 25 | $2.5B | $7.4B | ||
| Q3 25 | $3.5B | $8.4B | ||
| Q2 25 | $3.3B | $7.9B | ||
| Q1 25 | $3.2B | $7.9B | ||
| Q4 24 | $3.1B | $7.8B | ||
| Q3 24 | $2.9B | $8.1B | ||
| Q2 24 | $3.0B | $7.3B | ||
| Q1 24 | $3.1B | $7.1B |
| Q4 25 | $3.7B | $109.0B | ||
| Q3 25 | $4.5B | $106.6B | ||
| Q2 25 | $4.4B | $102.3B | ||
| Q1 25 | $4.3B | $98.2B | ||
| Q4 24 | $4.1B | $95.4B | ||
| Q3 24 | $3.9B | $94.7B | ||
| Q2 24 | $4.0B | $88.8B | ||
| Q1 24 | $4.1B | $84.5B |
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | 0.53× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.58× | ||
| Q1 24 | — | 0.55× |
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 | $1.5B |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $1.5B | ||
| Q3 25 | $287.0M | $1.3B | ||
| Q2 25 | $203.0M | $1.9B | ||
| Q1 25 | $298.0M | $1.1B | ||
| Q4 24 | $153.0M | $1.5B | ||
| Q3 24 | $185.0M | $2.4B | ||
| Q2 24 | $244.0M | $1.4B | ||
| Q1 24 | $105.0M | $1.6B |
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | — | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $91.0M | — |
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 26.7% | — | ||
| Q1 24 | 11.1% | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 1.7% | — |
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 3.66× | ||
| Q2 25 | 1.75× | 6.82× | ||
| Q1 25 | 2.81× | 13.43× | ||
| Q4 24 | 1.03× | 3.32× | ||
| Q3 24 | 1.57× | 8.89× | ||
| Q2 24 | 4.00× | 4.45× | ||
| Q1 24 | 0.81× | 6.42× |
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% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
