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Side-by-side financial comparison of Maplebear Inc. (CART) and Mid-America Apartment Communities (MAA). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $553.7M, roughly 1.8× Mid-America Apartment Communities). On growth, Mid-America Apartment Communities posted the faster year-over-year revenue change (438.7% vs 12.3%). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 0.7%).
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.
Mid-America Apartment Communities, Inc. (MAA) is a publicly traded real estate investment trust based in Memphis, Tennessee that invests in apartments in the Southeastern United States and the Southwestern United States.
CART vs MAA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $553.7M |
| Net Profit | $81.0M | — |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | — |
| Net Margin | 8.2% | — |
| Revenue YoY | 12.3% | 438.7% |
| Net Profit YoY | -45.3% | — |
| EPS (diluted) | $0.31 | $4.34 |
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 | — | $553.7M | ||
| Q4 25 | $992.0M | $555.6M | ||
| Q3 25 | $939.0M | $554.4M | ||
| Q2 25 | $914.0M | $549.9M | ||
| Q1 25 | $897.0M | $549.3M | ||
| Q4 24 | $883.0M | $549.8M | ||
| Q3 24 | $852.0M | $551.1M | ||
| Q2 24 | $823.0M | $546.4M |
| Q1 26 | — | — | ||
| Q4 25 | $81.0M | $57.6M | ||
| Q3 25 | $144.0M | $99.5M | ||
| Q2 25 | $116.0M | $108.1M | ||
| Q1 25 | $106.0M | $181.7M | ||
| Q4 24 | $148.0M | $166.6M | ||
| Q3 24 | $118.0M | $115.2M | ||
| Q2 24 | $61.0M | $102.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 9.9% | 10.4% | ||
| Q3 25 | 17.7% | 18.7% | ||
| Q2 25 | 13.6% | 20.2% | ||
| Q1 25 | 12.3% | 34.0% | ||
| Q4 24 | 17.6% | 31.3% | ||
| Q3 24 | 16.2% | 21.5% | ||
| Q2 24 | 6.3% | 19.3% |
| Q1 26 | — | — | ||
| Q4 25 | 8.2% | 10.4% | ||
| Q3 25 | 15.3% | 18.0% | ||
| Q2 25 | 12.7% | 19.7% | ||
| Q1 25 | 11.8% | 33.1% | ||
| Q4 24 | 16.8% | 30.3% | ||
| Q3 24 | 13.8% | 20.9% | ||
| Q2 24 | 7.4% | 18.7% |
| Q1 26 | — | $4.34 | ||
| Q4 25 | $0.31 | $0.48 | ||
| Q3 25 | $0.51 | $0.84 | ||
| Q2 25 | $0.41 | $0.92 | ||
| Q1 25 | $0.37 | $1.54 | ||
| Q4 24 | $0.53 | $1.43 | ||
| Q3 24 | $0.42 | $0.98 | ||
| Q2 24 | $0.20 | $0.86 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | — |
| Total Assets | $3.7B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $687.0M | $60.3M | ||
| Q3 25 | $1.7B | $32.2M | ||
| Q2 25 | $1.6B | $54.5M | ||
| Q1 25 | $1.6B | $55.8M | ||
| Q4 24 | $1.4B | $43.0M | ||
| Q3 24 | $1.3B | $50.2M | ||
| Q2 24 | $1.4B | $62.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $5.7B | ||
| Q3 25 | $3.5B | $5.8B | ||
| Q2 25 | $3.3B | $5.9B | ||
| Q1 25 | $3.2B | $5.9B | ||
| Q4 24 | $3.1B | $5.9B | ||
| Q3 24 | $2.9B | $5.9B | ||
| Q2 24 | $3.0B | $6.0B |
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $12.0B | ||
| Q3 25 | $4.5B | $11.9B | ||
| Q2 25 | $4.4B | $11.8B | ||
| Q1 25 | $4.3B | $11.8B | ||
| Q4 24 | $4.1B | $11.8B | ||
| Q3 24 | $3.9B | $11.8B | ||
| Q2 24 | $4.0B | $11.6B |
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% | — |
| 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 | $261.7M | ||
| Q3 25 | $287.0M | $266.4M | ||
| Q2 25 | $203.0M | $353.4M | ||
| Q1 25 | $298.0M | $196.6M | ||
| Q4 24 | $153.0M | $239.1M | ||
| Q3 24 | $185.0M | $309.5M | ||
| Q2 24 | $244.0M | $349.4M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $158.6M | ||
| Q3 25 | $272.0M | $170.8M | ||
| Q2 25 | $187.0M | $264.5M | ||
| Q1 25 | $280.0M | $124.0M | ||
| Q4 24 | $141.0M | $152.6M | ||
| Q3 24 | $171.0M | $215.5M | ||
| Q2 24 | $220.0M | $259.7M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | 28.5% | ||
| Q3 25 | 29.0% | 30.8% | ||
| Q2 25 | 20.5% | 48.1% | ||
| Q1 25 | 31.2% | 22.6% | ||
| Q4 24 | 16.0% | 27.8% | ||
| Q3 24 | 20.1% | 39.1% | ||
| Q2 24 | 26.7% | 47.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 18.6% | ||
| Q3 25 | 1.6% | 17.2% | ||
| Q2 25 | 1.8% | 16.2% | ||
| Q1 25 | 2.0% | 13.2% | ||
| Q4 24 | 1.4% | 15.7% | ||
| Q3 24 | 1.6% | 17.1% | ||
| Q2 24 | 2.9% | 16.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 4.55× | ||
| Q3 25 | 1.99× | 2.68× | ||
| Q2 25 | 1.75× | 3.27× | ||
| Q1 25 | 2.81× | 1.08× | ||
| Q4 24 | 1.03× | 1.43× | ||
| Q3 24 | 1.57× | 2.69× | ||
| Q2 24 | 4.00× | 3.43× |
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% |
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 1% |
