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Side-by-side financial comparison of Maplebear Inc. (CART) and Nutanix, Inc. (NTNX). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $670.6M, roughly 1.5× Nutanix, Inc.). Nutanix, Inc. runs the higher net margin — 9.3% vs 8.2%, a 1.1% gap on every dollar of revenue. On growth, Nutanix, Inc. posted the faster year-over-year revenue change (13.5% vs 12.3%). Nutanix, Inc. produced more free cash flow last quarter ($174.5M vs $171.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 8.9%).
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.
Nutanix, Inc. is an American cloud computing company that sells software for datacenters and hybrid multi-cloud deployments. This includes software for virtualization, Kubernetes, database-as-a-service, software-defined networking, security, as well as software-defined storage for file, object, and block storage.
CART vs NTNX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $670.6M |
| Net Profit | $81.0M | $62.1M |
| Gross Margin | 72.3% | 87.0% |
| Operating Margin | 9.9% | 7.4% |
| Net Margin | 8.2% | 9.3% |
| Revenue YoY | 12.3% | 13.5% |
| Net Profit YoY | -45.3% | 107.5% |
| EPS (diluted) | $0.31 | $0.21 |
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 | $670.6M | ||
| Q3 25 | $939.0M | $653.3M | ||
| Q2 25 | $914.0M | $639.0M | ||
| Q1 25 | $897.0M | $654.7M | ||
| Q4 24 | $883.0M | $591.0M | ||
| Q3 24 | $852.0M | $548.0M | ||
| Q2 24 | $823.0M | $524.6M | ||
| Q1 24 | $820.0M | $565.2M |
| Q4 25 | $81.0M | $62.1M | ||
| Q3 25 | $144.0M | $38.6M | ||
| Q2 25 | $116.0M | $63.4M | ||
| Q1 25 | $106.0M | $56.4M | ||
| Q4 24 | $148.0M | $29.9M | ||
| Q3 24 | $118.0M | $-126.1M | ||
| Q2 24 | $61.0M | $-15.6M | ||
| Q1 24 | $130.0M | $32.8M |
| Q4 25 | 72.3% | 87.0% | ||
| Q3 25 | 73.7% | 87.2% | ||
| Q2 25 | 74.2% | 87.0% | ||
| Q1 25 | 74.8% | 87.0% | ||
| Q4 24 | 75.2% | 86.0% | ||
| Q3 24 | 75.2% | 85.2% | ||
| Q2 24 | 75.7% | 84.8% | ||
| Q1 24 | 74.9% | 85.6% |
| Q4 25 | 9.9% | 7.4% | ||
| Q3 25 | 17.7% | 4.8% | ||
| Q2 25 | 13.6% | 7.6% | ||
| Q1 25 | 12.3% | 10.0% | ||
| Q4 24 | 17.6% | 4.6% | ||
| Q3 24 | 16.2% | -2.2% | ||
| Q2 24 | 6.3% | -2.2% | ||
| Q1 24 | 17.6% | 6.6% |
| Q4 25 | 8.2% | 9.3% | ||
| Q3 25 | 15.3% | 5.9% | ||
| Q2 25 | 12.7% | 9.9% | ||
| Q1 25 | 11.8% | 8.6% | ||
| Q4 24 | 16.8% | 5.1% | ||
| Q3 24 | 13.8% | -23.0% | ||
| Q2 24 | 7.4% | -3.0% | ||
| Q1 24 | 15.9% | 5.8% |
| Q4 25 | $0.31 | $0.21 | ||
| Q3 25 | $0.51 | $0.14 | ||
| Q2 25 | $0.41 | $0.22 | ||
| Q1 25 | $0.37 | $0.19 | ||
| Q4 24 | $0.53 | $0.10 | ||
| Q3 24 | $0.42 | $-0.50 | ||
| Q2 24 | $0.20 | $-0.06 | ||
| Q1 24 | $0.43 | $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 | $780.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $-668.6M |
| Total Assets | $3.7B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $780.4M | ||
| Q3 25 | $1.7B | $769.5M | ||
| Q2 25 | $1.6B | $872.6M | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.4B | $716.6M | ||
| Q3 24 | $1.3B | $655.3M | ||
| Q2 24 | $1.4B | $598.0M | ||
| Q1 24 | $1.5B | $679.2M |
| Q4 25 | $2.5B | $-668.6M | ||
| Q3 25 | $3.5B | $-694.5M | ||
| Q2 25 | $3.3B | $-711.4M | ||
| Q1 25 | $3.2B | $-807.7M | ||
| Q4 24 | $3.1B | $-685.3M | ||
| Q3 24 | $2.9B | $-728.1M | ||
| Q2 24 | $3.0B | $-619.5M | ||
| Q1 24 | $3.1B | $-611.7M |
| Q4 25 | $3.7B | $3.3B | ||
| Q3 25 | $4.5B | $3.3B | ||
| Q2 25 | $4.4B | $3.1B | ||
| Q1 25 | $4.3B | $3.0B | ||
| Q4 24 | $4.1B | $2.2B | ||
| Q3 24 | $3.9B | $2.1B | ||
| Q2 24 | $4.0B | $2.8B | ||
| Q1 24 | $4.1B | $2.7B |
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 | $196.8M |
| Free Cash FlowOCF − Capex | $171.0M | $174.5M |
| FCF MarginFCF / Revenue | 17.2% | 26.0% |
| Capex IntensityCapex / Revenue | 1.2% | 3.3% |
| Cash ConversionOCF / Net Profit | 2.26× | 3.17× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $772.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $196.8M | ||
| Q3 25 | $287.0M | $219.5M | ||
| Q2 25 | $203.0M | $218.5M | ||
| Q1 25 | $298.0M | $221.7M | ||
| Q4 24 | $153.0M | $161.8M | ||
| Q3 24 | $185.0M | $244.7M | ||
| Q2 24 | $244.0M | $96.4M | ||
| Q1 24 | $105.0M | $186.4M |
| Q4 25 | $171.0M | $174.5M | ||
| Q3 25 | $272.0M | $207.8M | ||
| Q2 25 | $187.0M | $203.4M | ||
| Q1 25 | $280.0M | $187.1M | ||
| Q4 24 | $141.0M | $151.9M | ||
| Q3 24 | $171.0M | $224.3M | ||
| Q2 24 | $220.0M | $78.3M | ||
| Q1 24 | $91.0M | $162.6M |
| Q4 25 | 17.2% | 26.0% | ||
| Q3 25 | 29.0% | 31.8% | ||
| Q2 25 | 20.5% | 31.8% | ||
| Q1 25 | 31.2% | 28.6% | ||
| Q4 24 | 16.0% | 25.7% | ||
| Q3 24 | 20.1% | 40.9% | ||
| Q2 24 | 26.7% | 14.9% | ||
| Q1 24 | 11.1% | 28.8% |
| Q4 25 | 1.2% | 3.3% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 1.8% | 2.4% | ||
| Q1 25 | 2.0% | 5.3% | ||
| Q4 24 | 1.4% | 1.7% | ||
| Q3 24 | 1.6% | 3.7% | ||
| Q2 24 | 2.9% | 3.4% | ||
| Q1 24 | 1.7% | 4.2% |
| Q4 25 | 2.26× | 3.17× | ||
| Q3 25 | 1.99× | 5.68× | ||
| Q2 25 | 1.75× | 3.45× | ||
| Q1 25 | 2.81× | 3.93× | ||
| Q4 24 | 1.03× | 5.41× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.81× | 5.68× |
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% |
NTNX
| Services | $335.5M | 50% |
| Subscriptionand Circulation Software Entitlementand Support Subscription | $320.8M | 48% |
| Other | $14.3M | 2% |
