vs
Side-by-side financial comparison of Maplebear Inc. (CART) and QuidelOrtho Corp (QDEL). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $699.9M, roughly 1.4× QuidelOrtho Corp). Maplebear Inc. runs the higher net margin — 8.2% vs -104.7%, a 112.9% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs -3.7%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $-94.7M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs -2.9%).
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.
QuidelOrtho Corporation is an American manufacturer of diagnostic healthcare products that are sold worldwide.
CART vs QDEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $699.9M |
| Net Profit | $81.0M | $-733.0M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | -100.7% |
| Net Margin | 8.2% | -104.7% |
| Revenue YoY | 12.3% | -3.7% |
| Net Profit YoY | -45.3% | -3583.4% |
| EPS (diluted) | $0.31 | $-10.78 |
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 | — | ||
| Q3 25 | $939.0M | $699.9M | ||
| Q2 25 | $914.0M | $613.9M | ||
| Q1 25 | $897.0M | $692.8M | ||
| Q4 24 | $883.0M | $707.8M | ||
| Q3 24 | $852.0M | $727.1M | ||
| Q2 24 | $823.0M | $637.0M | ||
| Q1 24 | $820.0M | $711.0M |
| Q4 25 | $81.0M | — | ||
| Q3 25 | $144.0M | $-733.0M | ||
| Q2 25 | $116.0M | $-255.4M | ||
| Q1 25 | $106.0M | $-12.7M | ||
| Q4 24 | $148.0M | $-178.4M | ||
| Q3 24 | $118.0M | $-19.9M | ||
| Q2 24 | $61.0M | $-147.7M | ||
| Q1 24 | $130.0M | $-1.7B |
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 75.2% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 75.7% | — | ||
| Q1 24 | 74.9% | — |
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | -100.7% | ||
| Q2 25 | 13.6% | -29.4% | ||
| Q1 25 | 12.3% | 4.7% | ||
| Q4 24 | 17.6% | -14.2% | ||
| Q3 24 | 16.2% | 2.1% | ||
| Q2 24 | 6.3% | -18.4% | ||
| Q1 24 | 17.6% | -247.3% |
| Q4 25 | 8.2% | — | ||
| Q3 25 | 15.3% | -104.7% | ||
| Q2 25 | 12.7% | -41.6% | ||
| Q1 25 | 11.8% | -1.8% | ||
| Q4 24 | 16.8% | -25.2% | ||
| Q3 24 | 13.8% | -2.7% | ||
| Q2 24 | 7.4% | -23.2% | ||
| Q1 24 | 15.9% | -239.9% |
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.51 | $-10.78 | ||
| Q2 25 | $0.41 | $-3.77 | ||
| Q1 25 | $0.37 | $-0.19 | ||
| Q4 24 | $0.53 | $-2.54 | ||
| Q3 24 | $0.42 | $-0.30 | ||
| Q2 24 | $0.20 | $-2.20 | ||
| Q1 24 | $0.43 | $-25.50 |
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 | $98.1M |
| Total DebtLower is stronger | — | $2.5B |
| Stockholders' EquityBook value | $2.5B | $2.0B |
| Total Assets | $3.7B | $5.7B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | $98.1M | ||
| Q2 25 | $1.6B | $151.7M | ||
| Q1 25 | $1.6B | $127.1M | ||
| Q4 24 | $1.4B | $98.3M | ||
| Q3 24 | $1.3B | $143.7M | ||
| Q2 24 | $1.4B | $107.0M | ||
| Q1 24 | $1.5B | $78.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.5B | $2.0B | ||
| Q2 25 | $3.3B | $2.8B | ||
| Q1 25 | $3.2B | $3.0B | ||
| Q4 24 | $3.1B | $3.0B | ||
| Q3 24 | $2.9B | $3.2B | ||
| Q2 24 | $3.0B | $3.2B | ||
| Q1 24 | $3.1B | $3.3B |
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.5B | $5.7B | ||
| Q2 25 | $4.4B | $6.4B | ||
| Q1 25 | $4.3B | $6.5B | ||
| Q4 24 | $4.1B | $6.4B | ||
| Q3 24 | $3.9B | $6.8B | ||
| Q2 24 | $4.0B | $6.7B | ||
| Q1 24 | $4.1B | $6.7B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.68× |
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 | $-45.5M |
| Free Cash FlowOCF − Capex | $171.0M | $-94.7M |
| FCF MarginFCF / Revenue | 17.2% | -13.5% |
| Capex IntensityCapex / Revenue | 1.2% | 7.0% |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $-153.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | — | ||
| Q3 25 | $287.0M | $-45.5M | ||
| Q2 25 | $203.0M | $-46.8M | ||
| Q1 25 | $298.0M | $65.6M | ||
| Q4 24 | $153.0M | $63.7M | ||
| Q3 24 | $185.0M | $117.9M | ||
| Q2 24 | $244.0M | $-97.9M | ||
| Q1 24 | $105.0M | $-700.0K |
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | $-94.7M | ||
| Q2 25 | $187.0M | $-84.3M | ||
| Q1 25 | $280.0M | $9.4M | ||
| Q4 24 | $141.0M | $16.5M | ||
| Q3 24 | $171.0M | $71.4M | ||
| Q2 24 | $220.0M | $-133.2M | ||
| Q1 24 | $91.0M | $-66.8M |
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | -13.5% | ||
| Q2 25 | 20.5% | -13.7% | ||
| Q1 25 | 31.2% | 1.4% | ||
| Q4 24 | 16.0% | 2.3% | ||
| Q3 24 | 20.1% | 9.8% | ||
| Q2 24 | 26.7% | -20.9% | ||
| Q1 24 | 11.1% | -9.4% |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | 7.0% | ||
| Q2 25 | 1.8% | 6.1% | ||
| Q1 25 | 2.0% | 8.1% | ||
| Q4 24 | 1.4% | 6.7% | ||
| Q3 24 | 1.6% | 6.4% | ||
| Q2 24 | 2.9% | 5.5% | ||
| Q1 24 | 1.7% | 9.3% |
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.81× | — |
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% |
QDEL
| Labs | $373.8M | 53% |
| Point Of Care | $164.6M | 24% |
| Immunohematology | $142.0M | 20% |
| Donor Screening | $14.7M | 2% |
| Molecular Diagnostics | $4.8M | 1% |
| Collaborative Arrangement Transaction With Party To Collaborative Arrangement | $2.1M | 0% |
