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Side-by-side financial comparison of Maplebear Inc. (CART) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
OPEN TEXT CORP is the larger business by last-quarter revenue ($1.3B vs $992.0M, roughly 1.3× Maplebear Inc.). OPEN TEXT CORP runs the higher net margin — 12.7% vs 8.2%, a 4.5% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -0.6%). OPEN TEXT CORP produced more free cash flow last quarter ($279.4M vs $171.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
CART vs OTEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.3B |
| Net Profit | $81.0M | $168.1M |
| Gross Margin | 72.3% | 74.0% |
| Operating Margin | 9.9% | 22.0% |
| Net Margin | 8.2% | 12.7% |
| Revenue YoY | 12.3% | -0.6% |
| Net Profit YoY | -45.3% | -26.9% |
| EPS (diluted) | $0.31 | $0.66 |
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 | $1.3B | ||
| Q3 25 | $939.0M | $1.3B | ||
| Q2 25 | $914.0M | $1.3B | ||
| Q1 25 | $897.0M | $1.3B | ||
| Q4 24 | $883.0M | $1.3B | ||
| Q3 24 | $852.0M | $1.3B | ||
| Q2 24 | $823.0M | $1.4B | ||
| Q1 24 | $820.0M | $1.4B |
| Q4 25 | $81.0M | $168.1M | ||
| Q3 25 | $144.0M | $146.6M | ||
| Q2 25 | $116.0M | $28.8M | ||
| Q1 25 | $106.0M | $92.8M | ||
| Q4 24 | $148.0M | $229.9M | ||
| Q3 24 | $118.0M | $84.4M | ||
| Q2 24 | $61.0M | $248.2M | ||
| Q1 24 | $130.0M | $98.3M |
| Q4 25 | 72.3% | 74.0% | ||
| Q3 25 | 73.7% | 72.8% | ||
| Q2 25 | 74.2% | 72.3% | ||
| Q1 25 | 74.8% | 71.6% | ||
| Q4 24 | 75.2% | 73.3% | ||
| Q3 24 | 75.2% | 71.7% | ||
| Q2 24 | 75.7% | 72.5% | ||
| Q1 24 | 74.9% | 73.0% |
| Q4 25 | 9.9% | 22.0% | ||
| Q3 25 | 17.7% | 21.0% | ||
| Q2 25 | 13.6% | 13.9% | ||
| Q1 25 | 12.3% | 16.7% | ||
| Q4 24 | 17.6% | 22.2% | ||
| Q3 24 | 16.2% | 16.3% | ||
| Q2 24 | 6.3% | 14.2% | ||
| Q1 24 | 17.6% | 15.7% |
| Q4 25 | 8.2% | 12.7% | ||
| Q3 25 | 15.3% | 11.4% | ||
| Q2 25 | 12.7% | 2.2% | ||
| Q1 25 | 11.8% | 7.4% | ||
| Q4 24 | 16.8% | 17.2% | ||
| Q3 24 | 13.8% | 6.6% | ||
| Q2 24 | 7.4% | 18.2% | ||
| Q1 24 | 15.9% | 6.8% |
| Q4 25 | $0.31 | $0.66 | ||
| Q3 25 | $0.51 | $0.58 | ||
| Q2 25 | $0.41 | $0.11 | ||
| Q1 25 | $0.37 | $0.35 | ||
| Q4 24 | $0.53 | $0.87 | ||
| Q3 24 | $0.42 | $0.32 | ||
| Q2 24 | $0.20 | $0.91 | ||
| Q1 24 | $0.43 | $0.36 |
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 | $1.3B |
| Total DebtLower is stronger | — | $6.4B |
| Stockholders' EquityBook value | $2.5B | $4.0B |
| Total Assets | $3.7B | $13.6B |
| Debt / EquityLower = less leverage | — | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $1.3B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $1.4B | $1.3B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | — | $6.4B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $8.4B |
| Q4 25 | $2.5B | $4.0B | ||
| Q3 25 | $3.5B | $4.0B | ||
| Q2 25 | $3.3B | $3.9B | ||
| Q1 25 | $3.2B | $4.1B | ||
| Q4 24 | $3.1B | $4.2B | ||
| Q3 24 | $2.9B | $4.1B | ||
| Q2 24 | $3.0B | $4.2B | ||
| Q1 24 | $3.1B | $4.1B |
| Q4 25 | $3.7B | $13.6B | ||
| Q3 25 | $4.5B | $13.5B | ||
| Q2 25 | $4.4B | $13.8B | ||
| Q1 25 | $4.3B | $13.8B | ||
| Q4 24 | $4.1B | $13.7B | ||
| Q3 24 | $3.9B | $13.8B | ||
| Q2 24 | $4.0B | $14.2B | ||
| Q1 24 | $4.1B | $16.4B |
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 2.02× |
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 | $318.7M |
| Free Cash FlowOCF − Capex | $171.0M | $279.4M |
| FCF MarginFCF / Revenue | 17.2% | 21.1% |
| Capex IntensityCapex / Revenue | 1.2% | 3.0% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $318.7M | ||
| Q3 25 | $287.0M | $147.8M | ||
| Q2 25 | $203.0M | $158.2M | ||
| Q1 25 | $298.0M | $402.2M | ||
| Q4 24 | $153.0M | $348.0M | ||
| Q3 24 | $185.0M | $-77.8M | ||
| Q2 24 | $244.0M | $185.2M | ||
| Q1 24 | $105.0M | $384.7M |
| Q4 25 | $171.0M | $279.4M | ||
| Q3 25 | $272.0M | $101.2M | ||
| Q2 25 | $187.0M | $124.0M | ||
| Q1 25 | $280.0M | $373.8M | ||
| Q4 24 | $141.0M | $306.7M | ||
| Q3 24 | $171.0M | $-117.1M | ||
| Q2 24 | $220.0M | $145.2M | ||
| Q1 24 | $91.0M | $348.2M |
| Q4 25 | 17.2% | 21.1% | ||
| Q3 25 | 29.0% | 7.9% | ||
| Q2 25 | 20.5% | 9.5% | ||
| Q1 25 | 31.2% | 29.8% | ||
| Q4 24 | 16.0% | 23.0% | ||
| Q3 24 | 20.1% | -9.2% | ||
| Q2 24 | 26.7% | 10.7% | ||
| Q1 24 | 11.1% | 24.1% |
| Q4 25 | 1.2% | 3.0% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 1.8% | 2.6% | ||
| Q1 25 | 2.0% | 2.3% | ||
| Q4 24 | 1.4% | 3.1% | ||
| Q3 24 | 1.6% | 3.1% | ||
| Q2 24 | 2.9% | 2.9% | ||
| Q1 24 | 1.7% | 2.5% |
| Q4 25 | 2.26× | 1.90× | ||
| Q3 25 | 1.99× | 1.01× | ||
| Q2 25 | 1.75× | 5.49× | ||
| Q1 25 | 2.81× | 4.33× | ||
| Q4 24 | 1.03× | 1.51× | ||
| Q3 24 | 1.57× | -0.92× | ||
| Q2 24 | 4.00× | 0.75× | ||
| Q1 24 | 0.81× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
