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Side-by-side financial comparison of Maplebear Inc. (CART) and MERCURY GENERAL CORP (MCY). Click either name above to swap in a different company.
MERCURY GENERAL CORP is the larger business by last-quarter revenue ($1.5B vs $992.0M, roughly 1.5× Maplebear Inc.). MERCURY GENERAL CORP runs the higher net margin — 13.2% vs 8.2%, a 5.0% gap on every dollar of revenue. On growth, MERCURY GENERAL CORP posted the faster year-over-year revenue change (12.4% vs 12.3%). MERCURY GENERAL CORP produced more free cash flow last quarter ($273.9M vs $171.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 9.8%).
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.
Mercury General Corporation is a multiple-line insurance organization that offers personal automobiles, homeowners, renters, and business insurance. Mercury's primary focus is automobiles and homeowners' insurance.
CART vs MCY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.5B |
| Net Profit | $81.0M | $202.5M |
| Gross Margin | 72.3% | 99.7% |
| Operating Margin | 9.9% | 16.2% |
| Net Margin | 8.2% | 13.2% |
| Revenue YoY | 12.3% | 12.4% |
| Net Profit YoY | -45.3% | 100.4% |
| EPS (diluted) | $0.31 | $3.66 |
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 | $1.6B | ||
| Q2 25 | $914.0M | $1.5B | ||
| Q1 25 | $897.0M | $1.4B | ||
| Q4 24 | $883.0M | $1.4B | ||
| Q3 24 | $852.0M | $1.5B | ||
| Q2 24 | $823.0M | $1.3B | ||
| Q1 24 | $820.0M | $1.3B |
| Q4 25 | $81.0M | $202.5M | ||
| Q3 25 | $144.0M | $280.4M | ||
| Q2 25 | $116.0M | $166.5M | ||
| Q1 25 | $106.0M | $-108.3M | ||
| Q4 24 | $148.0M | $101.1M | ||
| Q3 24 | $118.0M | $230.9M | ||
| Q2 24 | $61.0M | $62.6M | ||
| Q1 24 | $130.0M | $73.5M |
| Q4 25 | 72.3% | 99.7% | ||
| Q3 25 | 73.7% | 99.8% | ||
| Q2 25 | 74.2% | 99.8% | ||
| Q1 25 | 74.8% | 99.7% | ||
| Q4 24 | 75.2% | 99.7% | ||
| Q3 24 | 75.2% | 99.8% | ||
| Q2 24 | 75.7% | 99.8% | ||
| Q1 24 | 74.9% | 99.7% |
| Q4 25 | 9.9% | 16.2% | ||
| Q3 25 | 17.7% | 22.1% | ||
| Q2 25 | 13.6% | 14.0% | ||
| Q1 25 | 12.3% | -10.2% | ||
| Q4 24 | 17.6% | 9.0% | ||
| Q3 24 | 16.2% | 18.8% | ||
| Q2 24 | 6.3% | 5.8% | ||
| Q1 24 | 17.6% | 7.0% |
| Q4 25 | 8.2% | 13.2% | ||
| Q3 25 | 15.3% | 17.7% | ||
| Q2 25 | 12.7% | 11.3% | ||
| Q1 25 | 11.8% | -7.8% | ||
| Q4 24 | 16.8% | 7.4% | ||
| Q3 24 | 13.8% | 15.1% | ||
| Q2 24 | 7.4% | 4.8% | ||
| Q1 24 | 15.9% | 5.8% |
| Q4 25 | $0.31 | $3.66 | ||
| Q3 25 | $0.51 | $5.06 | ||
| Q2 25 | $0.41 | $3.01 | ||
| Q1 25 | $0.37 | $-1.96 | ||
| Q4 24 | $0.53 | $1.82 | ||
| Q3 24 | $0.42 | $4.17 | ||
| Q2 24 | $0.20 | $1.13 | ||
| Q1 24 | $0.43 | $1.33 |
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 | — | $575.0M |
| Stockholders' EquityBook value | $2.5B | $2.4B |
| Total Assets | $3.7B | $9.6B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | — | $575.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $575.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.5B | $2.4B | ||
| Q3 25 | $3.5B | $2.2B | ||
| Q2 25 | $3.3B | $2.0B | ||
| Q1 25 | $3.2B | $1.8B | ||
| Q4 24 | $3.1B | $1.9B | ||
| Q3 24 | $2.9B | $1.9B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $3.1B | $1.6B |
| Q4 25 | $3.7B | $9.6B | ||
| Q3 25 | $4.5B | $9.4B | ||
| Q2 25 | $4.4B | $9.1B | ||
| Q1 25 | $4.3B | $9.0B | ||
| Q4 24 | $4.1B | $8.3B | ||
| Q3 24 | $3.9B | $8.2B | ||
| Q2 24 | $4.0B | $7.7B | ||
| Q1 24 | $4.1B | $7.4B |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.30× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $287.9M |
| Free Cash FlowOCF − Capex | $171.0M | $273.9M |
| FCF MarginFCF / Revenue | 17.2% | 17.8% |
| Capex IntensityCapex / Revenue | 1.2% | 0.9% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $287.9M | ||
| Q3 25 | $287.0M | $496.4M | ||
| Q2 25 | $203.0M | $371.6M | ||
| Q1 25 | $298.0M | $-68.7M | ||
| Q4 24 | $153.0M | $248.3M | ||
| Q3 24 | $185.0M | $318.1M | ||
| Q2 24 | $244.0M | $278.0M | ||
| Q1 24 | $105.0M | $192.6M |
| Q4 25 | $171.0M | $273.9M | ||
| Q3 25 | $272.0M | $479.5M | ||
| Q2 25 | $187.0M | $357.2M | ||
| Q1 25 | $280.0M | $-81.9M | ||
| Q4 24 | $141.0M | $236.0M | ||
| Q3 24 | $171.0M | $306.2M | ||
| Q2 24 | $220.0M | $266.5M | ||
| Q1 24 | $91.0M | $182.4M |
| Q4 25 | 17.2% | 17.8% | ||
| Q3 25 | 29.0% | 30.3% | ||
| Q2 25 | 20.5% | 24.2% | ||
| Q1 25 | 31.2% | -5.9% | ||
| Q4 24 | 16.0% | 17.3% | ||
| Q3 24 | 20.1% | 20.0% | ||
| Q2 24 | 26.7% | 20.4% | ||
| Q1 24 | 11.1% | 14.3% |
| Q4 25 | 1.2% | 0.9% | ||
| Q3 25 | 1.6% | 1.1% | ||
| Q2 25 | 1.8% | 1.0% | ||
| Q1 25 | 2.0% | 0.9% | ||
| Q4 24 | 1.4% | 0.9% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 2.9% | 0.9% | ||
| Q1 24 | 1.7% | 0.8% |
| Q4 25 | 2.26× | 1.42× | ||
| Q3 25 | 1.99× | 1.77× | ||
| Q2 25 | 1.75× | 2.23× | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | 2.46× | ||
| Q3 24 | 1.57× | 1.38× | ||
| Q2 24 | 4.00× | 4.44× | ||
| Q1 24 | 0.81× | 2.62× |
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% |
MCY
Segment breakdown not available.
