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Side-by-side financial comparison of Maplebear Inc. (CART) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $909.4M, roughly 1.1× Nextpower Inc.). Nextpower Inc. runs the higher net margin — 14.4% vs 8.2%, a 6.3% gap on every dollar of revenue. On growth, Nextpower Inc. posted the faster year-over-year revenue change (33.9% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $118.5M). Over the past eight quarters, Nextpower Inc.'s revenue compounded faster (11.1% 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.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
CART vs NXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $909.4M |
| Net Profit | $81.0M | $131.2M |
| Gross Margin | 72.3% | 31.7% |
| Operating Margin | 9.9% | 19.4% |
| Net Margin | 8.2% | 14.4% |
| Revenue YoY | 12.3% | 33.9% |
| Net Profit YoY | -45.3% | 13.8% |
| EPS (diluted) | $0.31 | $0.85 |
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 | $909.4M | ||
| Q3 25 | $939.0M | $905.3M | ||
| Q2 25 | $914.0M | $864.3M | ||
| Q1 25 | $897.0M | $924.3M | ||
| Q4 24 | $883.0M | $679.4M | ||
| Q3 24 | $852.0M | $635.6M | ||
| Q2 24 | $823.0M | $719.9M | ||
| Q1 24 | $820.0M | $736.5M |
| Q4 25 | $81.0M | $131.2M | ||
| Q3 25 | $144.0M | $146.9M | ||
| Q2 25 | $116.0M | $157.2M | ||
| Q1 25 | $106.0M | $156.8M | ||
| Q4 24 | $148.0M | $115.3M | ||
| Q3 24 | $118.0M | $115.4M | ||
| Q2 24 | $61.0M | $121.7M | ||
| Q1 24 | $130.0M | $205.2M |
| Q4 25 | 72.3% | 31.7% | ||
| Q3 25 | 73.7% | 32.4% | ||
| Q2 25 | 74.2% | 32.6% | ||
| Q1 25 | 74.8% | 33.1% | ||
| Q4 24 | 75.2% | 35.5% | ||
| Q3 24 | 75.2% | 35.4% | ||
| Q2 24 | 75.7% | 33.0% | ||
| Q1 24 | 74.9% | 46.2% |
| Q4 25 | 9.9% | 19.4% | ||
| Q3 25 | 17.7% | 20.0% | ||
| Q2 25 | 13.6% | 21.5% | ||
| Q1 25 | 12.3% | 21.1% | ||
| Q4 24 | 17.6% | 22.1% | ||
| Q3 24 | 16.2% | 21.0% | ||
| Q2 24 | 6.3% | 22.2% | ||
| Q1 24 | 17.6% | 36.8% |
| Q4 25 | 8.2% | 14.4% | ||
| Q3 25 | 15.3% | 16.2% | ||
| Q2 25 | 12.7% | 18.2% | ||
| Q1 25 | 11.8% | 17.0% | ||
| Q4 24 | 16.8% | 17.0% | ||
| Q3 24 | 13.8% | 18.2% | ||
| Q2 24 | 7.4% | 16.9% | ||
| Q1 24 | 15.9% | 27.9% |
| Q4 25 | $0.31 | $0.85 | ||
| Q3 25 | $0.51 | $0.97 | ||
| Q2 25 | $0.41 | $1.04 | ||
| Q1 25 | $0.37 | $1.05 | ||
| Q4 24 | $0.53 | $0.79 | ||
| Q3 24 | $0.42 | $0.79 | ||
| Q2 24 | $0.20 | $0.84 | ||
| Q1 24 | $0.43 | $1.52 |
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 | $952.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.2B |
| Total Assets | $3.7B | $3.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $952.6M | ||
| Q3 25 | $1.7B | $845.3M | ||
| Q2 25 | $1.6B | $743.4M | ||
| Q1 25 | $1.6B | $766.1M | ||
| Q4 24 | $1.4B | $693.5M | ||
| Q3 24 | $1.3B | $561.9M | ||
| Q2 24 | $1.4B | $471.9M | ||
| Q1 24 | $1.5B | $474.1M |
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $3.5B | $2.0B | ||
| Q2 25 | $3.3B | $1.8B | ||
| Q1 25 | $3.2B | $1.6B | ||
| Q4 24 | $3.1B | $1.4B | ||
| Q3 24 | $2.9B | $1.3B | ||
| Q2 24 | $3.0B | $1.1B | ||
| Q1 24 | $3.1B | $961.0M |
| Q4 25 | $3.7B | $3.8B | ||
| Q3 25 | $4.5B | $3.7B | ||
| Q2 25 | $4.4B | $3.4B | ||
| Q1 25 | $4.3B | $3.2B | ||
| Q4 24 | $4.1B | $3.0B | ||
| Q3 24 | $3.9B | $2.8B | ||
| Q2 24 | $4.0B | $2.6B | ||
| Q1 24 | $4.1B | $2.5B |
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 | $123.3M |
| Free Cash FlowOCF − Capex | $171.0M | $118.5M |
| FCF MarginFCF / Revenue | 17.2% | 13.0% |
| Capex IntensityCapex / Revenue | 1.2% | 0.5% |
| Cash ConversionOCF / Net Profit | 2.26× | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $123.3M | ||
| Q3 25 | $287.0M | $186.9M | ||
| Q2 25 | $203.0M | $81.3M | ||
| Q1 25 | $298.0M | $237.3M | ||
| Q4 24 | $153.0M | $143.8M | ||
| Q3 24 | $185.0M | $153.8M | ||
| Q2 24 | $244.0M | $120.8M | ||
| Q1 24 | $105.0M | $111.5M |
| Q4 25 | $171.0M | $118.5M | ||
| Q3 25 | $272.0M | $171.4M | ||
| Q2 25 | $187.0M | $70.1M | ||
| Q1 25 | $280.0M | $227.2M | ||
| Q4 24 | $141.0M | $134.9M | ||
| Q3 24 | $171.0M | $141.8M | ||
| Q2 24 | $220.0M | $118.0M | ||
| Q1 24 | $91.0M | $109.2M |
| Q4 25 | 17.2% | 13.0% | ||
| Q3 25 | 29.0% | 18.9% | ||
| Q2 25 | 20.5% | 8.1% | ||
| Q1 25 | 31.2% | 24.6% | ||
| Q4 24 | 16.0% | 19.9% | ||
| Q3 24 | 20.1% | 22.3% | ||
| Q2 24 | 26.7% | 16.4% | ||
| Q1 24 | 11.1% | 14.8% |
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.6% | 1.7% | ||
| Q2 25 | 1.8% | 1.3% | ||
| Q1 25 | 2.0% | 1.1% | ||
| Q4 24 | 1.4% | 1.3% | ||
| Q3 24 | 1.6% | 1.9% | ||
| Q2 24 | 2.9% | 0.4% | ||
| Q1 24 | 1.7% | 0.3% |
| Q4 25 | 2.26× | 0.94× | ||
| Q3 25 | 1.99× | 1.27× | ||
| Q2 25 | 1.75× | 0.52× | ||
| Q1 25 | 2.81× | 1.51× | ||
| Q4 24 | 1.03× | 1.25× | ||
| Q3 24 | 1.57× | 1.33× | ||
| Q2 24 | 4.00× | 0.99× | ||
| Q1 24 | 0.81× | 0.54× |
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% |
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
