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Side-by-side financial comparison of Maplebear Inc. (CART) and StoneX Group Inc. (SNEX). Click either name above to swap in a different company.
StoneX Group Inc. is the larger business by last-quarter revenue ($1.2B vs $992.0M, roughly 1.2× Maplebear Inc.). StoneX Group Inc. runs the higher net margin — 11.6% vs 8.2%, a 3.4% gap on every dollar of revenue. On growth, StoneX Group Inc. posted the faster year-over-year revenue change (81.0% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $-1.3B). Over the past eight quarters, StoneX Group Inc.'s revenue compounded faster (53.5% 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.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
CART vs SNEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.2B |
| Net Profit | $81.0M | $139.0M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 15.4% |
| Net Margin | 8.2% | 11.6% |
| Revenue YoY | 12.3% | 81.0% |
| Net Profit YoY | -45.3% | 63.3% |
| EPS (diluted) | $0.31 | $2.50 |
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 | $1.2B | ||
| Q3 25 | $939.0M | $32.7B | ||
| Q2 25 | $914.0M | $851.2M | ||
| Q1 25 | $897.0M | $820.4M | ||
| Q4 24 | $883.0M | $663.1M | ||
| Q3 24 | $852.0M | $31.1B | ||
| Q2 24 | $823.0M | $571.8M | ||
| Q1 24 | $820.0M | $509.2M |
| Q4 25 | $81.0M | $139.0M | ||
| Q3 25 | $144.0M | $85.7M | ||
| Q2 25 | $116.0M | $63.4M | ||
| Q1 25 | $106.0M | $71.7M | ||
| Q4 24 | $148.0M | $85.1M | ||
| Q3 24 | $118.0M | $76.7M | ||
| Q2 24 | $61.0M | $61.9M | ||
| Q1 24 | $130.0M | $53.1M |
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | 3.7% | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 75.2% | — | ||
| Q3 24 | 75.2% | 3.0% | ||
| Q2 24 | 75.7% | — | ||
| Q1 24 | 74.9% | — |
| Q4 25 | 9.9% | 15.4% | ||
| Q3 25 | 17.7% | 0.3% | ||
| Q2 25 | 13.6% | -1.3% | ||
| Q1 25 | 12.3% | -1.0% | ||
| Q4 24 | 17.6% | -3.2% | ||
| Q3 24 | 16.2% | -0.0% | ||
| Q2 24 | 6.3% | -4.7% | ||
| Q1 24 | 17.6% | -2.5% |
| Q4 25 | 8.2% | 11.6% | ||
| Q3 25 | 15.3% | 0.3% | ||
| Q2 25 | 12.7% | 7.4% | ||
| Q1 25 | 11.8% | 8.7% | ||
| Q4 24 | 16.8% | 12.8% | ||
| Q3 24 | 13.8% | 0.2% | ||
| Q2 24 | 7.4% | 10.8% | ||
| Q1 24 | 15.9% | 10.4% |
| Q4 25 | $0.31 | $2.50 | ||
| Q3 25 | $0.51 | $0.72 | ||
| Q2 25 | $0.41 | $1.22 | ||
| Q1 25 | $0.37 | $1.41 | ||
| Q4 24 | $0.53 | $1.69 | ||
| Q3 24 | $0.42 | $2.32 | ||
| Q2 24 | $0.20 | $1.25 | ||
| Q1 24 | $0.43 | $1.09 |
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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.5B |
| Total Assets | $3.7B | $47.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $1.6B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | $2.5B | $2.5B | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.3B | $2.0B | ||
| Q1 25 | $3.2B | $1.9B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $2.9B | $1.7B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $3.1B | $1.5B |
| Q4 25 | $3.7B | $47.8B | ||
| Q3 25 | $4.5B | $45.3B | ||
| Q2 25 | $4.4B | $34.3B | ||
| Q1 25 | $4.3B | $31.3B | ||
| Q4 24 | $4.1B | $29.6B | ||
| Q3 24 | $3.9B | $27.5B | ||
| Q2 24 | $4.0B | $25.9B | ||
| Q1 24 | $4.1B | $25.7B |
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 | $-1.3B |
| Free Cash FlowOCF − Capex | $171.0M | $-1.3B |
| FCF MarginFCF / Revenue | 17.2% | -106.4% |
| Capex IntensityCapex / Revenue | 1.2% | 1.3% |
| Cash ConversionOCF / Net Profit | 2.26× | -9.08× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $-1.3B | ||
| Q3 25 | $287.0M | $3.5B | ||
| Q2 25 | $203.0M | $1.5B | ||
| Q1 25 | $298.0M | $-154.5M | ||
| Q4 24 | $153.0M | $-477.8M | ||
| Q3 24 | $185.0M | $192.6M | ||
| Q2 24 | $244.0M | $-622.1M | ||
| Q1 24 | $105.0M | $784.0M |
| Q4 25 | $171.0M | $-1.3B | ||
| Q3 25 | $272.0M | $3.5B | ||
| Q2 25 | $187.0M | $1.5B | ||
| Q1 25 | $280.0M | $-169.8M | ||
| Q4 24 | $141.0M | $-491.4M | ||
| Q3 24 | $171.0M | $175.9M | ||
| Q2 24 | $220.0M | $-640.5M | ||
| Q1 24 | $91.0M | $766.6M |
| Q4 25 | 17.2% | -106.4% | ||
| Q3 25 | 29.0% | 10.7% | ||
| Q2 25 | 20.5% | 173.3% | ||
| Q1 25 | 31.2% | -20.7% | ||
| Q4 24 | 16.0% | -74.1% | ||
| Q3 24 | 20.1% | 0.6% | ||
| Q2 24 | 26.7% | -112.0% | ||
| Q1 24 | 11.1% | 150.5% |
| Q4 25 | 1.2% | 1.3% | ||
| Q3 25 | 1.6% | 0.1% | ||
| Q2 25 | 1.8% | 1.9% | ||
| Q1 25 | 2.0% | 1.9% | ||
| Q4 24 | 1.4% | 2.1% | ||
| Q3 24 | 1.6% | 0.1% | ||
| Q2 24 | 2.9% | 3.2% | ||
| Q1 24 | 1.7% | 3.4% |
| Q4 25 | 2.26× | -9.08× | ||
| Q3 25 | 1.99× | 41.18× | ||
| Q2 25 | 1.75× | 23.52× | ||
| Q1 25 | 2.81× | -2.15× | ||
| Q4 24 | 1.03× | -5.61× | ||
| Q3 24 | 1.57× | 2.51× | ||
| Q2 24 | 4.00× | -10.05× | ||
| Q1 24 | 0.81× | 14.76× |
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% |
SNEX
Segment breakdown not available.
