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Side-by-side financial comparison of Maplebear Inc. (CART) and Hims & Hers Health, Inc. (HIMS). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $617.8M, roughly 1.6× Hims & Hers Health, Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 3.3%, a 4.8% gap on every dollar of revenue. On growth, Hims & Hers Health, Inc. posted the faster year-over-year revenue change (28.4% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $-2.5M). Over the past eight quarters, Hims & Hers Health, Inc.'s revenue compounded faster (49.0% 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.
Hims & Hers Health, Inc. is an American telehealth company established in 2017. The company provides prescription medications, over-the-counter medications, and personal care products.
CART vs HIMS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $617.8M |
| Net Profit | $81.0M | $20.6M |
| Gross Margin | 72.3% | 71.9% |
| Operating Margin | 9.9% | 1.5% |
| Net Margin | 8.2% | 3.3% |
| Revenue YoY | 12.3% | 28.4% |
| Net Profit YoY | -45.3% | -20.8% |
| EPS (diluted) | $0.31 | $0.08 |
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 | $617.8M | ||
| Q3 25 | $939.0M | $599.0M | ||
| Q2 25 | $914.0M | $544.8M | ||
| Q1 25 | $897.0M | $586.0M | ||
| Q4 24 | $883.0M | $481.1M | ||
| Q3 24 | $852.0M | $401.6M | ||
| Q2 24 | $823.0M | $315.6M | ||
| Q1 24 | $820.0M | $278.2M |
| Q4 25 | $81.0M | $20.6M | ||
| Q3 25 | $144.0M | $15.8M | ||
| Q2 25 | $116.0M | $42.5M | ||
| Q1 25 | $106.0M | $49.5M | ||
| Q4 24 | $148.0M | $26.0M | ||
| Q3 24 | $118.0M | $75.6M | ||
| Q2 24 | $61.0M | $13.3M | ||
| Q1 24 | $130.0M | $11.1M |
| Q4 25 | 72.3% | 71.9% | ||
| Q3 25 | 73.7% | 73.8% | ||
| Q2 25 | 74.2% | 76.4% | ||
| Q1 25 | 74.8% | 73.5% | ||
| Q4 24 | 75.2% | 76.8% | ||
| Q3 24 | 75.2% | 79.2% | ||
| Q2 24 | 75.7% | 81.3% | ||
| Q1 24 | 74.9% | 82.4% |
| Q4 25 | 9.9% | 1.5% | ||
| Q3 25 | 17.7% | 2.0% | ||
| Q2 25 | 13.6% | 4.9% | ||
| Q1 25 | 12.3% | 9.9% | ||
| Q4 24 | 17.6% | 3.9% | ||
| Q3 24 | 16.2% | 5.6% | ||
| Q2 24 | 6.3% | 3.5% | ||
| Q1 24 | 17.6% | 3.6% |
| Q4 25 | 8.2% | 3.3% | ||
| Q3 25 | 15.3% | 2.6% | ||
| Q2 25 | 12.7% | 7.8% | ||
| Q1 25 | 11.8% | 8.4% | ||
| Q4 24 | 16.8% | 5.4% | ||
| Q3 24 | 13.8% | 18.8% | ||
| Q2 24 | 7.4% | 4.2% | ||
| Q1 24 | 15.9% | 4.0% |
| Q4 25 | $0.31 | $0.08 | ||
| Q3 25 | $0.51 | $0.06 | ||
| Q2 25 | $0.41 | $0.17 | ||
| Q1 25 | $0.37 | $0.20 | ||
| Q4 24 | $0.53 | $0.10 | ||
| Q3 24 | $0.42 | $0.32 | ||
| Q2 24 | $0.20 | $0.06 | ||
| Q1 24 | $0.43 | $0.05 |
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 | $228.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $540.9M |
| Total Assets | $3.7B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $228.6M | ||
| Q3 25 | $1.7B | $345.8M | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $1.6B | $273.7M | ||
| Q4 24 | $1.4B | $220.6M | ||
| Q3 24 | $1.3B | $165.5M | ||
| Q2 24 | $1.4B | $129.3M | ||
| Q1 24 | $1.5B | $105.2M |
| Q4 25 | $2.5B | $540.9M | ||
| Q3 25 | $3.5B | $581.0M | ||
| Q2 25 | $3.3B | $562.7M | ||
| Q1 25 | $3.2B | $549.3M | ||
| Q4 24 | $3.1B | $476.7M | ||
| Q3 24 | $2.9B | $440.1M | ||
| Q2 24 | $3.0B | $362.0M | ||
| Q1 24 | $3.1B | $344.5M |
| Q4 25 | $3.7B | $2.2B | ||
| Q3 25 | $4.5B | $2.2B | ||
| Q2 25 | $4.4B | $1.9B | ||
| Q1 25 | $4.3B | $891.7M | ||
| Q4 24 | $4.1B | $707.5M | ||
| Q3 24 | $3.9B | $602.3M | ||
| Q2 24 | $4.0B | $480.5M | ||
| Q1 24 | $4.1B | $448.1M |
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 | $61.3M |
| Free Cash FlowOCF − Capex | $171.0M | $-2.5M |
| FCF MarginFCF / Revenue | 17.2% | -0.4% |
| Capex IntensityCapex / Revenue | 1.2% | 10.3% |
| Cash ConversionOCF / Net Profit | 2.26× | 2.98× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $57.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $61.3M | ||
| Q3 25 | $287.0M | $148.7M | ||
| Q2 25 | $203.0M | $-19.1M | ||
| Q1 25 | $298.0M | $109.1M | ||
| Q4 24 | $153.0M | $86.4M | ||
| Q3 24 | $185.0M | $85.3M | ||
| Q2 24 | $244.0M | $53.6M | ||
| Q1 24 | $105.0M | $25.8M |
| Q4 25 | $171.0M | $-2.5M | ||
| Q3 25 | $272.0M | $79.3M | ||
| Q2 25 | $187.0M | $-69.5M | ||
| Q1 25 | $280.0M | $50.1M | ||
| Q4 24 | $141.0M | $59.5M | ||
| Q3 24 | $171.0M | $79.4M | ||
| Q2 24 | $220.0M | $47.6M | ||
| Q1 24 | $91.0M | $11.8M |
| Q4 25 | 17.2% | -0.4% | ||
| Q3 25 | 29.0% | 13.2% | ||
| Q2 25 | 20.5% | -12.8% | ||
| Q1 25 | 31.2% | 8.5% | ||
| Q4 24 | 16.0% | 12.4% | ||
| Q3 24 | 20.1% | 19.8% | ||
| Q2 24 | 26.7% | 15.1% | ||
| Q1 24 | 11.1% | 4.3% |
| Q4 25 | 1.2% | 10.3% | ||
| Q3 25 | 1.6% | 11.6% | ||
| Q2 25 | 1.8% | 9.3% | ||
| Q1 25 | 2.0% | 10.1% | ||
| Q4 24 | 1.4% | 5.6% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 2.9% | 1.9% | ||
| Q1 24 | 1.7% | 5.0% |
| Q4 25 | 2.26× | 2.98× | ||
| Q3 25 | 1.99× | 9.43× | ||
| Q2 25 | 1.75× | -0.45× | ||
| Q1 25 | 2.81× | 2.20× | ||
| Q4 24 | 1.03× | 3.32× | ||
| Q3 24 | 1.57× | 1.13× | ||
| Q2 24 | 4.00× | 4.03× | ||
| Q1 24 | 0.81× | 2.32× |
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% |
HIMS
Segment breakdown not available.
