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Side-by-side financial comparison of Maplebear Inc. (CART) and ON Semiconductor (ON). Click either name above to swap in a different company.
ON Semiconductor is the larger business by last-quarter revenue ($1.6B vs $992.0M, roughly 1.6× Maplebear Inc.). ON Semiconductor runs the higher net margin — 16.4% vs 8.2%, a 8.3% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -10.0%). ON Semiconductor produced more free cash flow last quarter ($372.4M vs $171.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs -12.3%).
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.
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
CART vs ON — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.6B |
| Net Profit | $81.0M | $255.0M |
| Gross Margin | 72.3% | 37.9% |
| Operating Margin | 9.9% | 17.0% |
| Net Margin | 8.2% | 16.4% |
| Revenue YoY | 12.3% | -10.0% |
| Net Profit YoY | -45.3% | -32.9% |
| EPS (diluted) | $0.31 | $0.63 |
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 | $1.6B | ||
| Q3 25 | $939.0M | $1.5B | ||
| Q2 25 | $914.0M | $1.4B | ||
| Q1 25 | $897.0M | — | ||
| Q4 24 | $883.0M | $1.7B | ||
| Q3 24 | $852.0M | $1.8B | ||
| Q2 24 | $823.0M | $1.7B | ||
| Q1 24 | $820.0M | $1.9B |
| Q4 25 | $81.0M | $255.0M | ||
| Q3 25 | $144.0M | $170.3M | ||
| Q2 25 | $116.0M | $-486.1M | ||
| Q1 25 | $106.0M | — | ||
| Q4 24 | $148.0M | $379.9M | ||
| Q3 24 | $118.0M | $401.7M | ||
| Q2 24 | $61.0M | $338.2M | ||
| Q1 24 | $130.0M | $453.0M |
| Q4 25 | 72.3% | 37.9% | ||
| Q3 25 | 73.7% | 37.6% | ||
| Q2 25 | 74.2% | 20.3% | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 75.2% | 45.2% | ||
| Q3 24 | 75.2% | 45.4% | ||
| Q2 24 | 75.7% | 45.2% | ||
| Q1 24 | 74.9% | 45.8% |
| Q4 25 | 9.9% | 17.0% | ||
| Q3 25 | 17.7% | 13.2% | ||
| Q2 25 | 13.6% | -39.7% | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 17.6% | 23.7% | ||
| Q3 24 | 16.2% | 25.3% | ||
| Q2 24 | 6.3% | 22.4% | ||
| Q1 24 | 17.6% | 28.2% |
| Q4 25 | 8.2% | 16.4% | ||
| Q3 25 | 15.3% | 11.6% | ||
| Q2 25 | 12.7% | -33.6% | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 16.8% | 22.1% | ||
| Q3 24 | 13.8% | 22.8% | ||
| Q2 24 | 7.4% | 19.5% | ||
| Q1 24 | 15.9% | 24.3% |
| Q4 25 | $0.31 | $0.63 | ||
| Q3 25 | $0.51 | $0.41 | ||
| Q2 25 | $0.41 | $-1.15 | ||
| Q1 25 | $0.37 | — | ||
| Q4 24 | $0.53 | $0.88 | ||
| Q3 24 | $0.42 | $0.93 | ||
| Q2 24 | $0.20 | $0.78 | ||
| Q1 24 | $0.43 | $1.04 |
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 | $2.9B |
| Total DebtLower is stronger | — | $3.4B |
| Stockholders' EquityBook value | $2.5B | $7.9B |
| Total Assets | $3.7B | $13.0B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $2.9B | ||
| Q3 25 | $1.7B | $2.8B | ||
| Q2 25 | $1.6B | $3.0B | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.4B | $3.0B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.4B | $2.7B | ||
| Q1 24 | $1.5B | $2.6B |
| Q4 25 | — | $3.4B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $3.4B | ||
| Q1 24 | — | $3.4B |
| Q4 25 | $2.5B | $7.9B | ||
| Q3 25 | $3.5B | $7.9B | ||
| Q2 25 | $3.3B | $8.0B | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.1B | $8.8B | ||
| Q3 24 | $2.9B | $8.6B | ||
| Q2 24 | $3.0B | $8.3B | ||
| Q1 24 | $3.1B | $8.1B |
| Q4 25 | $3.7B | $13.0B | ||
| Q3 25 | $4.5B | $13.1B | ||
| Q2 25 | $4.4B | $13.3B | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.1B | $14.1B | ||
| Q3 24 | $3.9B | $13.9B | ||
| Q2 24 | $4.0B | $13.7B | ||
| Q1 24 | $4.1B | $13.5B |
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.41× | ||
| Q1 24 | — | 0.42× |
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 | $418.7M |
| Free Cash FlowOCF − Capex | $171.0M | $372.4M |
| FCF MarginFCF / Revenue | 17.2% | 24.0% |
| Capex IntensityCapex / Revenue | 1.2% | 3.0% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $418.7M | ||
| Q3 25 | $287.0M | $184.3M | ||
| Q2 25 | $203.0M | $602.3M | ||
| Q1 25 | $298.0M | — | ||
| Q4 24 | $153.0M | $579.7M | ||
| Q3 24 | $185.0M | $465.8M | ||
| Q2 24 | $244.0M | $362.2M | ||
| Q1 24 | $105.0M | $498.7M |
| Q4 25 | $171.0M | $372.4M | ||
| Q3 25 | $272.0M | $106.1M | ||
| Q2 25 | $187.0M | $454.7M | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | $434.8M | ||
| Q3 24 | $171.0M | $293.6M | ||
| Q2 24 | $220.0M | $207.7M | ||
| Q1 24 | $91.0M | $276.3M |
| Q4 25 | 17.2% | 24.0% | ||
| Q3 25 | 29.0% | 7.2% | ||
| Q2 25 | 20.5% | 31.5% | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | 25.2% | ||
| Q3 24 | 20.1% | 16.7% | ||
| Q2 24 | 26.7% | 12.0% | ||
| Q1 24 | 11.1% | 14.8% |
| Q4 25 | 1.2% | 3.0% | ||
| Q3 25 | 1.6% | 5.3% | ||
| Q2 25 | 1.8% | 10.2% | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | 8.4% | ||
| Q3 24 | 1.6% | 9.8% | ||
| Q2 24 | 2.9% | 8.9% | ||
| Q1 24 | 1.7% | 11.9% |
| Q4 25 | 2.26× | 1.64× | ||
| Q3 25 | 1.99× | 1.08× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | 1.53× | ||
| Q3 24 | 1.57× | 1.16× | ||
| Q2 24 | 4.00× | 1.07× | ||
| Q1 24 | 0.81× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
