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Side-by-side financial comparison of Maplebear Inc. (CART) and NEW JERSEY RESOURCES CORP (NJR). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $939.4M, roughly 1.1× NEW JERSEY RESOURCES CORP). NEW JERSEY RESOURCES CORP runs the higher net margin — 23.3% vs 8.2%, a 15.1% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -33.0%). Over the past eight quarters, NEW JERSEY RESOURCES CORP's revenue compounded faster (111.6% 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.
New Jersey Resources is an energy services holding company based in Wall Township, New Jersey. It is a Fortune 1000 company, and a member of the Forbes Platinum 400. New Jersey Natural Gas is its principal subsidiary.
CART vs NJR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $939.4M |
| Net Profit | $81.0M | $218.9M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 32.0% |
| Net Margin | 8.2% | 23.3% |
| Revenue YoY | 12.3% | -33.0% |
| Net Profit YoY | -45.3% | 7.2% |
| EPS (diluted) | $0.31 | $2.16 |
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 | — | $939.4M | ||
| Q4 25 | $992.0M | $440.9M | ||
| Q3 25 | $939.0M | $188.3M | ||
| Q2 25 | $914.0M | $234.8M | ||
| Q1 25 | $897.0M | $569.2M | ||
| Q4 24 | $883.0M | $359.0M | ||
| Q3 24 | $852.0M | $265.7M | ||
| Q2 24 | $823.0M | $209.9M |
| Q1 26 | — | $218.9M | ||
| Q4 25 | $81.0M | $122.5M | ||
| Q3 25 | $144.0M | $15.1M | ||
| Q2 25 | $116.0M | $-15.1M | ||
| Q1 25 | $106.0M | $204.3M | ||
| Q4 24 | $148.0M | $131.3M | ||
| Q3 24 | $118.0M | $91.1M | ||
| Q2 24 | $61.0M | $-11.6M |
| 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 | — | 32.0% | ||
| Q4 25 | 9.9% | 40.6% | ||
| Q3 25 | 17.7% | 21.5% | ||
| Q2 25 | 13.6% | -0.5% | ||
| Q1 25 | 12.3% | 49.2% | ||
| Q4 24 | 17.6% | 52.8% | ||
| Q3 24 | 16.2% | 55.0% | ||
| Q2 24 | 6.3% | 2.8% |
| Q1 26 | — | 23.3% | ||
| Q4 25 | 8.2% | 27.8% | ||
| Q3 25 | 15.3% | 8.0% | ||
| Q2 25 | 12.7% | -6.4% | ||
| Q1 25 | 11.8% | 35.9% | ||
| Q4 24 | 16.8% | 36.6% | ||
| Q3 24 | 13.8% | 34.3% | ||
| Q2 24 | 7.4% | -5.5% |
| Q1 26 | — | $2.16 | ||
| Q4 25 | $0.31 | $1.21 | ||
| Q3 25 | $0.51 | $0.15 | ||
| Q2 25 | $0.41 | $-0.15 | ||
| Q1 25 | $0.37 | $2.02 | ||
| Q4 24 | $0.53 | $1.31 | ||
| Q3 24 | $0.42 | $0.91 | ||
| Q2 24 | $0.20 | $-0.12 |
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 | $2.4M | ||
| Q3 25 | $1.7B | $591.0K | ||
| Q2 25 | $1.6B | $931.0K | ||
| Q1 25 | $1.6B | $83.7M | ||
| Q4 24 | $1.4B | $1.9M | ||
| Q3 24 | $1.3B | $1.0M | ||
| Q2 24 | $1.4B | $22.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.5B | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.3B | $2.4B | ||
| Q1 25 | $3.2B | $2.5B | ||
| Q4 24 | $3.1B | $2.3B | ||
| Q3 24 | $2.9B | $2.2B | ||
| Q2 24 | $3.0B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | $3.7B | $7.9B | ||
| Q3 25 | $4.5B | $7.6B | ||
| Q2 25 | $4.4B | $7.3B | ||
| Q1 25 | $4.3B | $7.3B | ||
| Q4 24 | $4.1B | $7.2B | ||
| Q3 24 | $3.9B | $7.0B | ||
| Q2 24 | $4.0B | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.32× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.30× |
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 | $26.7M | ||
| Q3 25 | $287.0M | $81.2M | ||
| Q2 25 | $203.0M | $-28.9M | ||
| Q1 25 | $298.0M | $423.0M | ||
| Q4 24 | $153.0M | $-9.0M | ||
| Q3 24 | $185.0M | $64.5M | ||
| Q2 24 | $244.0M | $24.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 2.26× | 0.22× | ||
| Q3 25 | 1.99× | 5.39× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | 2.07× | ||
| Q4 24 | 1.03× | -0.07× | ||
| Q3 24 | 1.57× | 0.71× | ||
| Q2 24 | 4.00× | — |
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% |
NJR
| Utility | $640.9M | 68% |
| Nonutility | $298.5M | 32% |
