vs
Side-by-side financial comparison of Maplebear Inc. (CART) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $992.0M, roughly 1.0× Maplebear Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 2.2%, a 6.0% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 4.5%). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs -6.2%).
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.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
CART vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.0B |
| Net Profit | $81.0M | $22.6M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 2.2% |
| Net Margin | 8.2% | 2.2% |
| Revenue YoY | 12.3% | 4.5% |
| Net Profit YoY | -45.3% | 64.8% |
| EPS (diluted) | $0.31 | $0.14 |
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 | — | $1.0B | ||
| Q4 25 | $992.0M | $1.0B | ||
| Q3 25 | $939.0M | $947.4M | ||
| Q2 25 | $914.0M | $1.0B | ||
| Q1 25 | $897.0M | $977.5M | ||
| Q4 24 | $883.0M | $943.6M | ||
| Q3 24 | $852.0M | $1.1B | ||
| Q2 24 | $823.0M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $81.0M | $13.7M | ||
| Q3 25 | $144.0M | $43.1M | ||
| Q2 25 | $116.0M | $71.0M | ||
| Q1 25 | $106.0M | $20.1M | ||
| Q4 24 | $148.0M | $51.9M | ||
| Q3 24 | $118.0M | $73.8M | ||
| Q2 24 | $61.0M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | 72.3% | 20.6% | ||
| Q3 25 | 73.7% | 18.7% | ||
| Q2 25 | 74.2% | 22.1% | ||
| Q1 25 | 74.8% | 22.1% | ||
| Q4 24 | 75.2% | 21.4% | ||
| Q3 24 | 75.2% | 26.2% | ||
| Q2 24 | 75.7% | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 9.9% | 1.9% | ||
| Q3 25 | 17.7% | -0.3% | ||
| Q2 25 | 13.6% | 3.6% | ||
| Q1 25 | 12.3% | 1.9% | ||
| Q4 24 | 17.6% | 2.6% | ||
| Q3 24 | 16.2% | 9.4% | ||
| Q2 24 | 6.3% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 8.2% | 1.3% | ||
| Q3 25 | 15.3% | 4.5% | ||
| Q2 25 | 12.7% | 6.8% | ||
| Q1 25 | 11.8% | 2.1% | ||
| Q4 24 | 16.8% | 5.5% | ||
| Q3 24 | 13.8% | 6.5% | ||
| Q2 24 | 7.4% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.31 | $0.08 | ||
| Q3 25 | $0.51 | $0.26 | ||
| Q2 25 | $0.41 | $0.43 | ||
| Q1 25 | $0.37 | $0.12 | ||
| Q4 24 | $0.53 | $0.31 | ||
| Q3 24 | $0.42 | $0.44 | ||
| Q2 24 | $0.20 | $0.64 |
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 | $699.1M |
| Total DebtLower is stronger | — | $7.1M |
| Stockholders' EquityBook value | $2.5B | $1.9B |
| Total Assets | $3.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $687.0M | $27.6M | ||
| Q3 25 | $1.7B | $13.5M | ||
| Q2 25 | $1.6B | $19.6M | ||
| Q1 25 | $1.6B | $24.1M | ||
| Q4 24 | $1.4B | $20.0M | ||
| Q3 24 | $1.3B | $23.0M | ||
| Q2 24 | $1.4B | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.5B | $2.1B | ||
| Q3 25 | $3.5B | $2.1B | ||
| Q2 25 | $3.3B | $2.0B | ||
| Q1 25 | $3.2B | $2.0B | ||
| Q4 24 | $3.1B | $2.0B | ||
| Q3 24 | $2.9B | $2.0B | ||
| Q2 24 | $3.0B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $3.7B | $3.6B | ||
| Q3 25 | $4.5B | $3.5B | ||
| Q2 25 | $4.4B | $3.4B | ||
| Q1 25 | $4.3B | $3.4B | ||
| Q4 24 | $4.1B | $3.3B | ||
| Q3 24 | $3.9B | $3.3B | ||
| Q2 24 | $4.0B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | 13.1% |
| 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 | $195.4M | ||
| Q3 25 | $287.0M | $51.5M | ||
| Q2 25 | $203.0M | $170.6M | ||
| Q1 25 | $298.0M | $192.1M | ||
| Q4 24 | $153.0M | $177.3M | ||
| Q3 24 | $185.0M | $244.5M | ||
| Q2 24 | $244.0M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $-10.0M | ||
| Q3 25 | $272.0M | $-67.2M | ||
| Q2 25 | $187.0M | $33.1M | ||
| Q1 25 | $280.0M | $58.2M | ||
| Q4 24 | $141.0M | $-26.2M | ||
| Q3 24 | $171.0M | $77.9M | ||
| Q2 24 | $220.0M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | -1.0% | ||
| Q3 25 | 29.0% | -7.1% | ||
| Q2 25 | 20.5% | 3.2% | ||
| Q1 25 | 31.2% | 6.0% | ||
| Q4 24 | 16.0% | -2.8% | ||
| Q3 24 | 20.1% | 6.8% | ||
| Q2 24 | 26.7% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 1.2% | 19.8% | ||
| Q3 25 | 1.6% | 12.5% | ||
| Q2 25 | 1.8% | 13.2% | ||
| Q1 25 | 2.0% | 13.7% | ||
| Q4 24 | 1.4% | 21.6% | ||
| Q3 24 | 1.6% | 14.6% | ||
| Q2 24 | 2.9% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 14.28× | ||
| Q3 25 | 1.99× | 1.20× | ||
| Q2 25 | 1.75× | 2.40× | ||
| Q1 25 | 2.81× | 9.55× | ||
| Q4 24 | 1.03× | 3.42× | ||
| Q3 24 | 1.57× | 3.31× | ||
| Q2 24 | 4.00× | 2.29× |
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% |
LBRT
Segment breakdown not available.
