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Side-by-side financial comparison of Maplebear Inc. (CART) and Lyft, Inc. (LYFT). Click either name above to swap in a different company.
Lyft, Inc. is the larger business by last-quarter revenue ($1.5B vs $992.0M, roughly 1.5× Maplebear Inc.). Lyft, Inc. runs the higher net margin — 183.9% vs 8.2%, a 175.8% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 3.6%). Over the past eight quarters, Lyft, Inc.'s revenue compounded faster (11.3% 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.
Lyft, Inc. is an American company offering ride-hailing services, motorized scooters, and bicycle-sharing systems in the United States and Canada, and, via its Free Now mobile app, Europe. Lyft is the second-largest ridesharing company in the United States after Uber. It has 25 million active riders and coordinates 9 million rides per day.
CART vs LYFT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.5B |
| Net Profit | $81.0M | $2.8B |
| Gross Margin | 72.3% | 35.1% |
| Operating Margin | 9.9% | -12.4% |
| Net Margin | 8.2% | 183.9% |
| Revenue YoY | 12.3% | 3.6% |
| Net Profit YoY | -45.3% | 4363.0% |
| EPS (diluted) | $0.31 | $6.59 |
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 | $1.5B | ||
| Q3 25 | $939.0M | $1.5B | ||
| Q2 25 | $914.0M | $1.5B | ||
| Q1 25 | $897.0M | $1.4B | ||
| Q4 24 | $883.0M | $1.4B | ||
| Q3 24 | $852.0M | $1.4B | ||
| Q2 24 | $823.0M | $1.3B | ||
| Q1 24 | $820.0M | $1.2B |
| Q4 25 | $81.0M | $2.8B | ||
| Q3 25 | $144.0M | $46.1M | ||
| Q2 25 | $116.0M | $40.3M | ||
| Q1 25 | $106.0M | $2.6M | ||
| Q4 24 | $148.0M | $61.7M | ||
| Q3 24 | $118.0M | $-12.4M | ||
| Q2 24 | $61.0M | $5.0M | ||
| Q1 24 | $130.0M | $-31.5M |
| Q4 25 | 72.3% | 35.1% | ||
| Q3 25 | 73.7% | 40.0% | ||
| Q2 25 | 74.2% | 36.7% | ||
| Q1 25 | 74.8% | 37.2% | ||
| Q4 24 | 75.2% | 39.5% | ||
| Q3 24 | 75.2% | 36.0% | ||
| Q2 24 | 75.7% | 38.0% | ||
| Q1 24 | 74.9% | 37.6% |
| Q4 25 | 9.9% | -12.4% | ||
| Q3 25 | 17.7% | 1.5% | ||
| Q2 25 | 13.6% | 0.2% | ||
| Q1 25 | 12.3% | -2.1% | ||
| Q4 24 | 17.6% | 1.9% | ||
| Q3 24 | 16.2% | -4.1% | ||
| Q2 24 | 6.3% | -2.1% | ||
| Q1 24 | 17.6% | -5.2% |
| Q4 25 | 8.2% | 183.9% | ||
| Q3 25 | 15.3% | 3.0% | ||
| Q2 25 | 12.7% | 2.7% | ||
| Q1 25 | 11.8% | 0.2% | ||
| Q4 24 | 16.8% | 4.3% | ||
| Q3 24 | 13.8% | -0.9% | ||
| Q2 24 | 7.4% | 0.4% | ||
| Q1 24 | 15.9% | -2.6% |
| Q4 25 | $0.31 | $6.59 | ||
| Q3 25 | $0.51 | $0.11 | ||
| Q2 25 | $0.41 | $0.10 | ||
| Q1 25 | $0.37 | $0.01 | ||
| Q4 24 | $0.53 | $0.16 | ||
| Q3 24 | $0.42 | $-0.03 | ||
| Q2 24 | $0.20 | $0.01 | ||
| Q1 24 | $0.43 | $-0.08 |
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 | $1.8B |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $2.5B | $3.3B |
| Total Assets | $3.7B | $9.0B |
| Debt / EquityLower = less leverage | — | 0.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $1.8B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | $1.6B | $2.2B | ||
| Q4 24 | $1.4B | $2.0B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $1.4B | $1.8B | ||
| Q1 24 | $1.5B | $1.7B |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $573.2M | ||
| Q1 25 | — | $979.9M | ||
| Q4 24 | — | $995.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $971.5M |
| Q4 25 | $2.5B | $3.3B | ||
| Q3 25 | $3.5B | $573.0M | ||
| Q2 25 | $3.3B | $732.7M | ||
| Q1 25 | $3.2B | $838.1M | ||
| Q4 24 | $3.1B | $767.0M | ||
| Q3 24 | $2.9B | $655.8M | ||
| Q2 24 | $3.0B | $577.6M | ||
| Q1 24 | $3.1B | $491.3M |
| Q4 25 | $3.7B | $9.0B | ||
| Q3 25 | $4.5B | $5.9B | ||
| Q2 25 | $4.4B | $5.4B | ||
| Q1 25 | $4.3B | $5.7B | ||
| Q4 24 | $4.1B | $5.4B | ||
| Q3 24 | $3.9B | $5.3B | ||
| Q2 24 | $4.0B | $5.0B | ||
| Q1 24 | $4.1B | $4.8B |
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 1.85× | ||
| Q2 25 | — | 0.78× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.53× | ||
| Q2 24 | — | 1.74× | ||
| Q1 24 | — | 1.98× |
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 | $246.2M |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | 0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $246.2M | ||
| Q3 25 | $287.0M | $291.3M | ||
| Q2 25 | $203.0M | $343.7M | ||
| Q1 25 | $298.0M | $287.2M | ||
| Q4 24 | $153.0M | $153.4M | ||
| Q3 24 | $185.0M | $264.0M | ||
| Q2 24 | $244.0M | $276.2M | ||
| Q1 24 | $105.0M | $156.2M |
| 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× | 0.09× | ||
| Q3 25 | 1.99× | 6.32× | ||
| Q2 25 | 1.75× | 8.53× | ||
| Q1 25 | 2.81× | 111.89× | ||
| Q4 24 | 1.03× | 2.48× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | 55.09× | ||
| Q1 24 | 0.81× | — |
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% |
LYFT
Segment breakdown not available.
