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Side-by-side financial comparison of Maplebear Inc. (CART) and SELECTIVE INSURANCE GROUP INC (SIGI). Click either name above to swap in a different company.
SELECTIVE INSURANCE GROUP INC is the larger business by last-quarter revenue ($1.4B vs $992.0M, roughly 1.4× Maplebear Inc.). Maplebear Inc. runs the higher net margin — 8.2% vs 7.2%, a 1.0% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 5.7%). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 6.6%).
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.
Selective Insurance Group Inc. is a U.S.-based insurance holding company that provides a comprehensive portfolio of property and casualty insurance products, including personal auto, home insurance, commercial property, liability, and workers' compensation coverage. It primarily serves small and medium-sized businesses, individual consumers, and nonprofits across the U.S., distributing offerings via a network of independent insurance agents.
CART vs SIGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.4B |
| Net Profit | $81.0M | $97.7M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | — |
| Net Margin | 8.2% | 7.2% |
| Revenue YoY | 12.3% | 5.7% |
| Net Profit YoY | -45.3% | — |
| EPS (diluted) | $0.31 | $1.58 |
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.
| Q1 26 | — | $1.4B | ||
| Q4 25 | $992.0M | $1.4B | ||
| Q3 25 | $939.0M | $1.4B | ||
| Q2 25 | $914.0M | $1.3B | ||
| Q1 25 | $897.0M | $1.3B | ||
| Q4 24 | $883.0M | $1.3B | ||
| Q3 24 | $852.0M | $1.2B | ||
| Q2 24 | $823.0M | $1.2B |
| Q1 26 | — | $97.7M | ||
| Q4 25 | $81.0M | $155.2M | ||
| Q3 25 | $144.0M | $115.3M | ||
| Q2 25 | $116.0M | $85.9M | ||
| Q1 25 | $106.0M | $109.9M | ||
| Q4 24 | $148.0M | $95.5M | ||
| Q3 24 | $118.0M | $92.3M | ||
| Q2 24 | $61.0M | $-63.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 9.9% | 14.4% | ||
| Q3 25 | 17.7% | 10.7% | ||
| Q2 25 | 13.6% | 8.2% | ||
| Q1 25 | 12.3% | 10.8% | ||
| Q4 24 | 17.6% | 9.5% | ||
| Q3 24 | 16.2% | 9.4% | ||
| Q2 24 | 6.3% | -6.7% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 8.2% | 11.4% | ||
| Q3 25 | 15.3% | 8.5% | ||
| Q2 25 | 12.7% | 6.5% | ||
| Q1 25 | 11.8% | 8.6% | ||
| Q4 24 | 16.8% | 7.6% | ||
| Q3 24 | 13.8% | 7.4% | ||
| Q2 24 | 7.4% | -5.3% |
| Q1 26 | — | $1.58 | ||
| Q4 25 | $0.31 | $2.52 | ||
| Q3 25 | $0.51 | $1.85 | ||
| Q2 25 | $0.41 | $1.36 | ||
| Q1 25 | $0.37 | $1.76 | ||
| Q4 24 | $0.53 | $1.53 | ||
| Q3 24 | $0.42 | $1.47 | ||
| Q2 24 | $0.20 | $-1.08 |
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 | $451.8M |
| Total DebtLower is stronger | — | $901.4M |
| Stockholders' EquityBook value | $2.5B | $3.6B |
| Total Assets | $3.7B | $15.3B |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $451.8M | ||
| 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 26 | — | $901.4M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $507.9M | ||
| Q3 24 | — | $508.2M | ||
| Q2 24 | — | $508.8M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $2.5B | $3.6B | ||
| Q3 25 | $3.5B | $3.5B | ||
| Q2 25 | $3.3B | $3.4B | ||
| Q1 25 | $3.2B | $3.3B | ||
| Q4 24 | $3.1B | $3.1B | ||
| Q3 24 | $2.9B | $3.2B | ||
| Q2 24 | $3.0B | $2.9B |
| Q1 26 | — | $15.3B | ||
| Q4 25 | $3.7B | $15.2B | ||
| Q3 25 | $4.5B | $15.0B | ||
| Q2 25 | $4.4B | $14.5B | ||
| Q1 25 | $4.3B | $14.2B | ||
| Q4 24 | $4.1B | $13.5B | ||
| Q3 24 | $3.9B | $13.5B | ||
| Q2 24 | $4.0B | $12.6B |
| Q1 26 | — | 0.25× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.17× |
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 | — |
| Free Cash FlowOCF − Capex | $171.0M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | 2.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $183.0M | $376.3M | ||
| Q3 25 | $287.0M | $405.8M | ||
| Q2 25 | $203.0M | $166.9M | ||
| Q1 25 | $298.0M | $284.0M | ||
| Q4 24 | $153.0M | $332.2M | ||
| Q3 24 | $185.0M | $387.4M | ||
| Q2 24 | $244.0M | $266.1M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $366.3M | ||
| Q3 25 | $272.0M | $397.3M | ||
| Q2 25 | $187.0M | $159.7M | ||
| Q1 25 | $280.0M | $271.0M | ||
| Q4 24 | $141.0M | $324.7M | ||
| Q3 24 | $171.0M | $378.0M | ||
| Q2 24 | $220.0M | $258.4M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | 26.8% | ||
| Q3 25 | 29.0% | 29.2% | ||
| Q2 25 | 20.5% | 12.0% | ||
| Q1 25 | 31.2% | 21.1% | ||
| Q4 24 | 16.0% | 25.8% | ||
| Q3 24 | 20.1% | 30.4% | ||
| Q2 24 | 26.7% | 21.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.7% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 2.0% | 1.0% | ||
| Q4 24 | 1.4% | 0.6% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 2.9% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 2.42× | ||
| Q3 25 | 1.99× | 3.52× | ||
| Q2 25 | 1.75× | 1.94× | ||
| Q1 25 | 2.81× | 2.58× | ||
| Q4 24 | 1.03× | 3.48× | ||
| Q3 24 | 1.57× | 4.20× | ||
| Q2 24 | 4.00× | — |
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% |
SIGI
Segment breakdown not available.
