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Side-by-side financial comparison of Maplebear Inc. (CART) and Insulet Corporation (PODD). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $783.7M, roughly 1.3× Insulet Corporation). Insulet Corporation runs the higher net margin — 13.0% vs 8.2%, a 4.8% gap on every dollar of revenue. On growth, Insulet Corporation posted the faster year-over-year revenue change (31.2% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $48.2M). Over the past eight quarters, Insulet Corporation's revenue compounded faster (33.2% 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.
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
CART vs PODD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $783.7M |
| Net Profit | $81.0M | $101.6M |
| Gross Margin | 72.3% | 72.6% |
| Operating Margin | 9.9% | 18.7% |
| Net Margin | 8.2% | 13.0% |
| Revenue YoY | 12.3% | 31.2% |
| Net Profit YoY | -45.3% | 0.9% |
| EPS (diluted) | $0.31 | $1.42 |
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 | $783.7M | ||
| Q3 25 | $939.0M | $706.3M | ||
| Q2 25 | $914.0M | $649.1M | ||
| Q1 25 | $897.0M | $569.0M | ||
| Q4 24 | $883.0M | $597.5M | ||
| Q3 24 | $852.0M | $543.9M | ||
| Q2 24 | $823.0M | $488.5M | ||
| Q1 24 | $820.0M | $441.7M |
| Q4 25 | $81.0M | $101.6M | ||
| Q3 25 | $144.0M | $87.6M | ||
| Q2 25 | $116.0M | $22.5M | ||
| Q1 25 | $106.0M | $35.4M | ||
| Q4 24 | $148.0M | $100.7M | ||
| Q3 24 | $118.0M | $77.5M | ||
| Q2 24 | $61.0M | $188.6M | ||
| Q1 24 | $130.0M | $51.5M |
| Q4 25 | 72.3% | 72.6% | ||
| Q3 25 | 73.7% | 72.2% | ||
| Q2 25 | 74.2% | 69.7% | ||
| Q1 25 | 74.8% | 71.9% | ||
| Q4 24 | 75.2% | 72.1% | ||
| Q3 24 | 75.2% | 69.3% | ||
| Q2 24 | 75.7% | 67.7% | ||
| Q1 24 | 74.9% | 69.5% |
| Q4 25 | 9.9% | 18.7% | ||
| Q3 25 | 17.7% | 16.7% | ||
| Q2 25 | 13.6% | 18.7% | ||
| Q1 25 | 12.3% | 15.6% | ||
| Q4 24 | 17.6% | 18.3% | ||
| Q3 24 | 16.2% | 16.2% | ||
| Q2 24 | 6.3% | 11.2% | ||
| Q1 24 | 17.6% | 12.9% |
| Q4 25 | 8.2% | 13.0% | ||
| Q3 25 | 15.3% | 12.4% | ||
| Q2 25 | 12.7% | 3.5% | ||
| Q1 25 | 11.8% | 6.2% | ||
| Q4 24 | 16.8% | 16.9% | ||
| Q3 24 | 13.8% | 14.2% | ||
| Q2 24 | 7.4% | 38.6% | ||
| Q1 24 | 15.9% | 11.7% |
| Q4 25 | $0.31 | $1.42 | ||
| Q3 25 | $0.51 | $1.24 | ||
| Q2 25 | $0.41 | $0.32 | ||
| Q1 25 | $0.37 | $0.50 | ||
| Q4 24 | $0.53 | $1.38 | ||
| Q3 24 | $0.42 | $1.08 | ||
| Q2 24 | $0.20 | $2.59 | ||
| Q1 24 | $0.43 | $0.73 |
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 | — |
| Total DebtLower is stronger | — | $930.8M |
| Stockholders' EquityBook value | $2.5B | $1.5B |
| Total Assets | $3.7B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | — | $930.8M | ||
| Q3 25 | — | $934.9M | ||
| Q2 25 | — | $939.0M | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $2.5B | $1.5B | ||
| Q3 25 | $3.5B | $1.4B | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $3.2B | $1.3B | ||
| Q4 24 | $3.1B | $1.2B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $3.0B | $998.4M | ||
| Q1 24 | $3.1B | $790.7M |
| Q4 25 | $3.7B | $3.2B | ||
| Q3 25 | $4.5B | $3.0B | ||
| Q2 25 | $4.4B | $3.5B | ||
| Q1 25 | $4.3B | $3.5B | ||
| Q4 24 | $4.1B | $3.1B | ||
| Q3 24 | $3.9B | $3.0B | ||
| Q2 24 | $4.0B | $2.9B | ||
| Q1 24 | $4.1B | $2.6B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.72× |
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 | $183.3M |
| Free Cash FlowOCF − Capex | $171.0M | $48.2M |
| FCF MarginFCF / Revenue | 17.2% | 6.2% |
| Capex IntensityCapex / Revenue | 1.2% | 17.2% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $377.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $183.3M | ||
| Q3 25 | $287.0M | $125.7M | ||
| Q2 25 | $203.0M | $196.5M | ||
| Q1 25 | $298.0M | $63.8M | ||
| Q4 24 | $153.0M | $147.7M | ||
| Q3 24 | $185.0M | $98.5M | ||
| Q2 24 | $244.0M | $96.5M | ||
| Q1 24 | $105.0M | $87.6M |
| Q4 25 | $171.0M | $48.2M | ||
| Q3 25 | $272.0M | $100.1M | ||
| Q2 25 | $187.0M | $177.9M | ||
| Q1 25 | $280.0M | $51.5M | ||
| Q4 24 | $141.0M | $94.1M | ||
| Q3 24 | $171.0M | $71.8M | ||
| Q2 24 | $220.0M | $74.0M | ||
| Q1 24 | $91.0M | $65.5M |
| Q4 25 | 17.2% | 6.2% | ||
| Q3 25 | 29.0% | 14.2% | ||
| Q2 25 | 20.5% | 27.4% | ||
| Q1 25 | 31.2% | 9.1% | ||
| Q4 24 | 16.0% | 15.7% | ||
| Q3 24 | 20.1% | 13.2% | ||
| Q2 24 | 26.7% | 15.1% | ||
| Q1 24 | 11.1% | 14.8% |
| Q4 25 | 1.2% | 17.2% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 1.8% | 2.9% | ||
| Q1 25 | 2.0% | 2.2% | ||
| Q4 24 | 1.4% | 9.0% | ||
| Q3 24 | 1.6% | 4.9% | ||
| Q2 24 | 2.9% | 4.6% | ||
| Q1 24 | 1.7% | 5.0% |
| Q4 25 | 2.26× | 1.80× | ||
| Q3 25 | 1.99× | 1.43× | ||
| Q2 25 | 1.75× | 8.73× | ||
| Q1 25 | 2.81× | 1.80× | ||
| Q4 24 | 1.03× | 1.47× | ||
| Q3 24 | 1.57× | 1.27× | ||
| Q2 24 | 4.00× | 0.51× | ||
| Q1 24 | 0.81× | 1.70× |
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% |
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
