vs
Side-by-side financial comparison of Maplebear Inc. (CART) and Organon & Co. (OGN). Click either name above to swap in a different company.
Organon & Co. is the larger business by last-quarter revenue ($1.5B vs $992.0M, roughly 1.5× Maplebear Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs -13.6%, a 21.8% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -5.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $96.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs -3.6%).
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.
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
CART vs OGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.5B |
| Net Profit | $81.0M | $-205.0M |
| Gross Margin | 72.3% | 49.2% |
| Operating Margin | 9.9% | -9.8% |
| Net Margin | 8.2% | -13.6% |
| Revenue YoY | 12.3% | -5.3% |
| Net Profit YoY | -45.3% | -288.1% |
| EPS (diluted) | $0.31 | $-0.78 |
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 | $1.6B | ||
| Q1 25 | $897.0M | $1.5B | ||
| Q4 24 | $883.0M | $1.6B | ||
| Q3 24 | $852.0M | $1.6B | ||
| Q2 24 | $823.0M | $1.6B | ||
| Q1 24 | $820.0M | $1.6B |
| Q4 25 | $81.0M | $-205.0M | ||
| Q3 25 | $144.0M | $160.0M | ||
| Q2 25 | $116.0M | $145.0M | ||
| Q1 25 | $106.0M | $87.0M | ||
| Q4 24 | $148.0M | $109.0M | ||
| Q3 24 | $118.0M | $359.0M | ||
| Q2 24 | $61.0M | $195.0M | ||
| Q1 24 | $130.0M | $201.0M |
| Q4 25 | 72.3% | 49.2% | ||
| Q3 25 | 73.7% | 53.5% | ||
| Q2 25 | 74.2% | 54.8% | ||
| Q1 25 | 74.8% | 55.6% | ||
| Q4 24 | 75.2% | 56.3% | ||
| Q3 24 | 75.2% | 58.3% | ||
| Q2 24 | 75.7% | 58.4% | ||
| Q1 24 | 74.9% | 59.0% |
| Q4 25 | 9.9% | -9.8% | ||
| Q3 25 | 17.7% | 15.2% | ||
| Q2 25 | 13.6% | 14.4% | ||
| Q1 25 | 12.3% | 6.7% | ||
| Q4 24 | 17.6% | 8.1% | ||
| Q3 24 | 16.2% | 13.1% | ||
| Q2 24 | 6.3% | 14.6% | ||
| Q1 24 | 17.6% | 14.5% |
| Q4 25 | 8.2% | -13.6% | ||
| Q3 25 | 15.3% | 10.0% | ||
| Q2 25 | 12.7% | 9.1% | ||
| Q1 25 | 11.8% | 5.8% | ||
| Q4 24 | 16.8% | 6.8% | ||
| Q3 24 | 13.8% | 22.7% | ||
| Q2 24 | 7.4% | 12.1% | ||
| Q1 24 | 15.9% | 12.4% |
| Q4 25 | $0.31 | $-0.78 | ||
| Q3 25 | $0.51 | $0.61 | ||
| Q2 25 | $0.41 | $0.56 | ||
| Q1 25 | $0.37 | $0.33 | ||
| Q4 24 | $0.53 | $0.42 | ||
| Q3 24 | $0.42 | $1.38 | ||
| Q2 24 | $0.20 | $0.75 | ||
| Q1 24 | $0.43 | $0.78 |
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 | $574.0M |
| Total DebtLower is stronger | — | $8.6B |
| Stockholders' EquityBook value | $2.5B | $752.0M |
| Total Assets | $3.7B | $12.9B |
| Debt / EquityLower = less leverage | — | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $574.0M | ||
| Q3 25 | $1.7B | $672.0M | ||
| Q2 25 | $1.6B | $599.0M | ||
| Q1 25 | $1.6B | $547.0M | ||
| Q4 24 | $1.4B | $675.0M | ||
| Q3 24 | $1.3B | $763.0M | ||
| Q2 24 | $1.4B | $704.0M | ||
| Q1 24 | $1.5B | $575.0M |
| Q4 25 | — | $8.6B | ||
| Q3 25 | — | $8.8B | ||
| Q2 25 | — | $8.9B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | $8.7B | ||
| Q2 24 | — | $8.7B | ||
| Q1 24 | — | $8.7B |
| Q4 25 | $2.5B | $752.0M | ||
| Q3 25 | $3.5B | $906.0M | ||
| Q2 25 | $3.3B | $733.0M | ||
| Q1 25 | $3.2B | $542.0M | ||
| Q4 24 | $3.1B | $472.0M | ||
| Q3 24 | $2.9B | $493.0M | ||
| Q2 24 | $3.0B | $144.0M | ||
| Q1 24 | $3.1B | $48.0M |
| Q4 25 | $3.7B | $12.9B | ||
| Q3 25 | $4.5B | $13.6B | ||
| Q2 25 | $4.4B | $13.5B | ||
| Q1 25 | $4.3B | $13.2B | ||
| Q4 24 | $4.1B | $13.1B | ||
| Q3 24 | $3.9B | $12.8B | ||
| Q2 24 | $4.0B | $12.2B | ||
| Q1 24 | $4.1B | $11.9B |
| Q4 25 | — | 11.49× | ||
| Q3 25 | — | 9.74× | ||
| Q2 25 | — | 12.14× | ||
| Q1 25 | — | 16.52× | ||
| Q4 24 | — | 18.81× | ||
| Q3 24 | — | 17.75× | ||
| Q2 24 | — | 60.11× | ||
| Q1 24 | — | 181.54× |
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 | $141.0M |
| Free Cash FlowOCF − Capex | $171.0M | $96.0M |
| FCF MarginFCF / Revenue | 17.2% | 6.4% |
| Capex IntensityCapex / Revenue | 1.2% | 3.0% |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $141.0M | ||
| Q3 25 | $287.0M | $264.0M | ||
| Q2 25 | $203.0M | $220.0M | ||
| Q1 25 | $298.0M | $75.0M | ||
| Q4 24 | $153.0M | $390.0M | ||
| Q3 24 | $185.0M | $141.0M | ||
| Q2 24 | $244.0M | $332.0M | ||
| Q1 24 | $105.0M | $76.0M |
| Q4 25 | $171.0M | $96.0M | ||
| Q3 25 | $272.0M | $218.0M | ||
| Q2 25 | $187.0M | $181.0M | ||
| Q1 25 | $280.0M | $43.0M | ||
| Q4 24 | $141.0M | $335.0M | ||
| Q3 24 | $171.0M | $99.0M | ||
| Q2 24 | $220.0M | $300.0M | ||
| Q1 24 | $91.0M | $30.0M |
| Q4 25 | 17.2% | 6.4% | ||
| Q3 25 | 29.0% | 13.6% | ||
| Q2 25 | 20.5% | 11.4% | ||
| Q1 25 | 31.2% | 2.8% | ||
| Q4 24 | 16.0% | 21.0% | ||
| Q3 24 | 20.1% | 6.3% | ||
| Q2 24 | 26.7% | 18.7% | ||
| Q1 24 | 11.1% | 1.8% |
| Q4 25 | 1.2% | 3.0% | ||
| Q3 25 | 1.6% | 2.9% | ||
| Q2 25 | 1.8% | 2.4% | ||
| Q1 25 | 2.0% | 2.1% | ||
| Q4 24 | 1.4% | 3.5% | ||
| Q3 24 | 1.6% | 2.7% | ||
| Q2 24 | 2.9% | 2.0% | ||
| Q1 24 | 1.7% | 2.8% |
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 1.65× | ||
| Q2 25 | 1.75× | 1.52× | ||
| Q1 25 | 2.81× | 0.86× | ||
| Q4 24 | 1.03× | 3.58× | ||
| Q3 24 | 1.57× | 0.39× | ||
| Q2 24 | 4.00× | 1.70× | ||
| Q1 24 | 0.81× | 0.38× |
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% |
OGN
Segment breakdown not available.
