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Side-by-side financial comparison of Maplebear Inc. (CART) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $622.0M, roughly 1.6× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs 8.2%, a 26.3% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 4.8%). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
CART vs RPRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $622.0M |
| Net Profit | $81.0M | $214.2M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 62.4% |
| Net Margin | 8.2% | 34.4% |
| Revenue YoY | 12.3% | 4.8% |
| Net Profit YoY | -45.3% | 2.9% |
| EPS (diluted) | $0.31 | $0.49 |
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 | $622.0M | ||
| Q3 25 | $939.0M | $609.3M | ||
| Q2 25 | $914.0M | $578.7M | ||
| Q1 25 | $897.0M | $568.2M | ||
| Q4 24 | $883.0M | $593.6M | ||
| Q3 24 | $852.0M | $564.7M | ||
| Q2 24 | $823.0M | $537.3M | ||
| Q1 24 | $820.0M | $568.0M |
| Q4 25 | $81.0M | $214.2M | ||
| Q3 25 | $144.0M | $288.2M | ||
| Q2 25 | $116.0M | $30.2M | ||
| Q1 25 | $106.0M | $238.3M | ||
| Q4 24 | $148.0M | $208.2M | ||
| Q3 24 | $118.0M | $544.0M | ||
| Q2 24 | $61.0M | $102.0M | ||
| Q1 24 | $130.0M | $4.8M |
| 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% | 62.4% | ||
| Q3 25 | 17.7% | 70.1% | ||
| Q2 25 | 13.6% | 36.3% | ||
| Q1 25 | 12.3% | 94.0% | ||
| Q4 24 | 17.6% | 60.9% | ||
| Q3 24 | 16.2% | — | ||
| Q2 24 | 6.3% | 50.2% | ||
| Q1 24 | 17.6% | -13.0% |
| Q4 25 | 8.2% | 34.4% | ||
| Q3 25 | 15.3% | 47.3% | ||
| Q2 25 | 12.7% | 5.2% | ||
| Q1 25 | 11.8% | 41.9% | ||
| Q4 24 | 16.8% | 35.1% | ||
| Q3 24 | 13.8% | 96.3% | ||
| Q2 24 | 7.4% | 19.0% | ||
| Q1 24 | 15.9% | 0.8% |
| Q4 25 | $0.31 | $0.49 | ||
| Q3 25 | $0.51 | $0.67 | ||
| Q2 25 | $0.41 | $0.07 | ||
| Q1 25 | $0.37 | $0.55 | ||
| Q4 24 | $0.53 | $0.46 | ||
| Q3 24 | $0.42 | $1.21 | ||
| Q2 24 | $0.20 | $0.23 | ||
| Q1 24 | $0.43 | $0.01 |
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 | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $2.5B | $9.7B |
| Total Assets | $3.7B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $618.7M | ||
| Q3 25 | $1.7B | $938.9M | ||
| Q2 25 | $1.6B | $631.9M | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.4B | $929.0M | ||
| Q3 24 | $1.3B | $950.1M | ||
| Q2 24 | $1.4B | $1.8B | ||
| Q1 24 | $1.5B | $843.0M |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
| Q4 25 | $2.5B | $9.7B | ||
| Q3 25 | $3.5B | $9.6B | ||
| Q2 25 | $3.3B | $9.5B | ||
| Q1 25 | $3.2B | $9.8B | ||
| Q4 24 | $3.1B | $10.3B | ||
| Q3 24 | $2.9B | $10.3B | ||
| Q2 24 | $3.0B | $9.8B | ||
| Q1 24 | $3.1B | $9.9B |
| Q4 25 | $3.7B | $19.6B | ||
| Q3 25 | $4.5B | $19.3B | ||
| Q2 25 | $4.4B | $18.3B | ||
| Q1 25 | $4.3B | $17.6B | ||
| Q4 24 | $4.1B | $18.2B | ||
| Q3 24 | $3.9B | $18.0B | ||
| Q2 24 | $4.0B | $17.7B | ||
| Q1 24 | $4.1B | $16.1B |
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $827.1M | ||
| Q3 25 | $287.0M | $702.6M | ||
| Q2 25 | $203.0M | $364.0M | ||
| Q1 25 | $298.0M | $596.1M | ||
| Q4 24 | $153.0M | $742.5M | ||
| Q3 24 | $185.0M | $703.6M | ||
| Q2 24 | $244.0M | $658.2M | ||
| Q1 24 | $105.0M | $664.6M |
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | — | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $91.0M | — |
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 26.7% | — | ||
| Q1 24 | 11.1% | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 1.7% | — |
| Q4 25 | 2.26× | 3.86× | ||
| Q3 25 | 1.99× | 2.44× | ||
| Q2 25 | 1.75× | 12.06× | ||
| Q1 25 | 2.81× | 2.50× | ||
| Q4 24 | 1.03× | 3.57× | ||
| Q3 24 | 1.57× | 1.29× | ||
| Q2 24 | 4.00× | 6.45× | ||
| Q1 24 | 0.81× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
