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Side-by-side financial comparison of Maplebear Inc. (CART) and Noble Corp plc (NE). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $764.4M, roughly 1.3× Noble Corp plc). Noble Corp plc runs the higher net margin — 11.3% vs 8.2%, a 3.2% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -17.6%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $35.4M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 9.5%).
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.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
CART vs NE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $764.4M |
| Net Profit | $81.0M | $86.6M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 5.6% |
| Net Margin | 8.2% | 11.3% |
| Revenue YoY | 12.3% | -17.6% |
| Net Profit YoY | -45.3% | -10.4% |
| EPS (diluted) | $0.31 | $0.54 |
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 | $764.4M | ||
| Q3 25 | $939.0M | $798.0M | ||
| Q2 25 | $914.0M | $848.7M | ||
| Q1 25 | $897.0M | $874.5M | ||
| Q4 24 | $883.0M | $927.3M | ||
| Q3 24 | $852.0M | $800.5M | ||
| Q2 24 | $823.0M | $692.8M | ||
| Q1 24 | $820.0M | $637.1M |
| Q4 25 | $81.0M | $86.6M | ||
| Q3 25 | $144.0M | $-21.1M | ||
| Q2 25 | $116.0M | $42.9M | ||
| Q1 25 | $106.0M | $108.3M | ||
| Q4 24 | $148.0M | $96.6M | ||
| Q3 24 | $118.0M | $61.2M | ||
| Q2 24 | $61.0M | $195.0M | ||
| Q1 24 | $130.0M | $95.5M |
| 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 24 | 74.9% | — |
| Q4 25 | 9.9% | 5.6% | ||
| Q3 25 | 17.7% | 6.3% | ||
| Q2 25 | 13.6% | 15.9% | ||
| Q1 25 | 12.3% | 21.4% | ||
| Q4 24 | 17.6% | 18.4% | ||
| Q3 24 | 16.2% | 14.4% | ||
| Q2 24 | 6.3% | 30.3% | ||
| Q1 24 | 17.6% | 16.9% |
| Q4 25 | 8.2% | 11.3% | ||
| Q3 25 | 15.3% | -2.6% | ||
| Q2 25 | 12.7% | 5.1% | ||
| Q1 25 | 11.8% | 12.4% | ||
| Q4 24 | 16.8% | 10.4% | ||
| Q3 24 | 13.8% | 7.6% | ||
| Q2 24 | 7.4% | 28.1% | ||
| Q1 24 | 15.9% | 15.0% |
| Q4 25 | $0.31 | $0.54 | ||
| Q3 25 | $0.51 | $-0.13 | ||
| Q2 25 | $0.41 | $0.27 | ||
| Q1 25 | $0.37 | $0.67 | ||
| Q4 24 | $0.53 | $0.56 | ||
| Q3 24 | $0.42 | $0.40 | ||
| Q2 24 | $0.20 | $1.34 | ||
| Q1 24 | $0.43 | $0.66 |
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 | $471.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $4.5B |
| Total Assets | $3.7B | $7.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $471.4M | ||
| Q3 25 | $1.7B | $477.9M | ||
| Q2 25 | $1.6B | $338.2M | ||
| Q1 25 | $1.6B | $303.8M | ||
| Q4 24 | $1.4B | $247.3M | ||
| Q3 24 | $1.3B | $391.9M | ||
| Q2 24 | $1.4B | $162.9M | ||
| Q1 24 | $1.5B | $212.5M |
| Q4 25 | $2.5B | $4.5B | ||
| Q3 25 | $3.5B | $4.5B | ||
| Q2 25 | $3.3B | $4.6B | ||
| Q1 25 | $3.2B | $4.7B | ||
| Q4 24 | $3.1B | $4.7B | ||
| Q3 24 | $2.9B | $4.7B | ||
| Q2 24 | $3.0B | $4.0B | ||
| Q1 24 | $3.1B | $3.9B |
| Q4 25 | $3.7B | $7.5B | ||
| Q3 25 | $4.5B | $7.6B | ||
| Q2 25 | $4.4B | $7.7B | ||
| Q1 25 | $4.3B | $7.9B | ||
| Q4 24 | $4.1B | $8.0B | ||
| Q3 24 | $3.9B | $8.0B | ||
| Q2 24 | $4.0B | $5.6B | ||
| Q1 24 | $4.1B | $5.4B |
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 | $187.1M |
| Free Cash FlowOCF − Capex | $171.0M | $35.4M |
| FCF MarginFCF / Revenue | 17.2% | 4.6% |
| Capex IntensityCapex / Revenue | 1.2% | 19.9% |
| Cash ConversionOCF / Net Profit | 2.26× | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $432.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $187.1M | ||
| Q3 25 | $287.0M | $277.1M | ||
| Q2 25 | $203.0M | $216.4M | ||
| Q1 25 | $298.0M | $271.1M | ||
| Q4 24 | $153.0M | $136.2M | ||
| Q3 24 | $185.0M | $283.8M | ||
| Q2 24 | $244.0M | $106.8M | ||
| Q1 24 | $105.0M | $128.7M |
| Q4 25 | $171.0M | $35.4M | ||
| Q3 25 | $272.0M | $139.5M | ||
| Q2 25 | $187.0M | $99.8M | ||
| Q1 25 | $280.0M | $157.5M | ||
| Q4 24 | $141.0M | $-4.4M | ||
| Q3 24 | $171.0M | $156.8M | ||
| Q2 24 | $220.0M | $-34.3M | ||
| Q1 24 | $91.0M | $-37.9M |
| Q4 25 | 17.2% | 4.6% | ||
| Q3 25 | 29.0% | 17.5% | ||
| Q2 25 | 20.5% | 11.8% | ||
| Q1 25 | 31.2% | 18.0% | ||
| Q4 24 | 16.0% | -0.5% | ||
| Q3 24 | 20.1% | 19.6% | ||
| Q2 24 | 26.7% | -4.9% | ||
| Q1 24 | 11.1% | -6.0% |
| Q4 25 | 1.2% | 19.9% | ||
| Q3 25 | 1.6% | 17.3% | ||
| Q2 25 | 1.8% | 13.7% | ||
| Q1 25 | 2.0% | 13.0% | ||
| Q4 24 | 1.4% | 15.2% | ||
| Q3 24 | 1.6% | 15.9% | ||
| Q2 24 | 2.9% | 20.4% | ||
| Q1 24 | 1.7% | 26.2% |
| Q4 25 | 2.26× | 2.16× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | 5.05× | ||
| Q1 25 | 2.81× | 2.50× | ||
| Q4 24 | 1.03× | 1.41× | ||
| Q3 24 | 1.57× | 4.64× | ||
| Q2 24 | 4.00× | 0.55× | ||
| Q1 24 | 0.81× | 1.35× |
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% |
NE
| Floaters | $559.8M | 73% |
| Jackups | $145.5M | 19% |
| Service Other | $59.1M | 8% |
