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Side-by-side financial comparison of Maplebear Inc. (CART) and SouthState Bank Corp (SSB). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $661.7M, roughly 1.5× SouthState Bank Corp). SouthState Bank Corp runs the higher net margin — 34.1% vs 8.2%, a 26.0% gap on every dollar of revenue. Over the past eight quarters, SouthState Bank Corp's revenue compounded faster (37.4% 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.
SouthState Bank, based in Winter Haven, Florida, is an American bank and a subsidiary of SouthState Corporation, a bank holding company. As of May 26, 2025, the company had 371 branches in South Carolina, North Carolina, Georgia, Florida, Alabama, Virginia, Colorado and Texas.
CART vs SSB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $661.7M |
| Net Profit | $81.0M | $225.8M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | 15.1% |
| Net Margin | 8.2% | 34.1% |
| Revenue YoY | 12.3% | — |
| Net Profit YoY | -45.3% | 153.5% |
| EPS (diluted) | $0.31 | $2.28 |
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 | — | $661.7M | ||
| Q4 25 | $992.0M | $581.1M | ||
| Q3 25 | $939.0M | $599.7M | ||
| Q2 25 | $914.0M | $577.9M | ||
| Q1 25 | $897.0M | $544.5M | ||
| Q4 24 | $883.0M | $369.8M | ||
| Q3 24 | $852.0M | $351.5M | ||
| Q2 24 | $823.0M | $350.3M |
| Q1 26 | — | $225.8M | ||
| Q4 25 | $81.0M | $247.7M | ||
| Q3 25 | $144.0M | $246.6M | ||
| Q2 25 | $116.0M | $215.2M | ||
| Q1 25 | $106.0M | $89.1M | ||
| Q4 24 | $148.0M | $144.2M | ||
| Q3 24 | $118.0M | $143.2M | ||
| Q2 24 | $61.0M | $132.4M |
| 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 | — | 15.1% | ||
| Q4 25 | 9.9% | 54.3% | ||
| Q3 25 | 17.7% | 53.6% | ||
| Q2 25 | 13.6% | 48.8% | ||
| Q1 25 | 12.3% | 22.3% | ||
| Q4 24 | 17.6% | 50.7% | ||
| Q3 24 | 16.2% | 53.1% | ||
| Q2 24 | 6.3% | 49.3% |
| Q1 26 | — | 34.1% | ||
| Q4 25 | 8.2% | 42.6% | ||
| Q3 25 | 15.3% | 41.1% | ||
| Q2 25 | 12.7% | 37.2% | ||
| Q1 25 | 11.8% | 16.4% | ||
| Q4 24 | 16.8% | 39.0% | ||
| Q3 24 | 13.8% | 40.7% | ||
| Q2 24 | 7.4% | 37.8% |
| Q1 26 | — | $2.28 | ||
| Q4 25 | $0.31 | $2.47 | ||
| Q3 25 | $0.51 | $2.42 | ||
| Q2 25 | $0.41 | $2.11 | ||
| Q1 25 | $0.37 | $0.87 | ||
| Q4 24 | $0.53 | $1.88 | ||
| Q3 24 | $0.42 | $1.86 | ||
| Q2 24 | $0.20 | $1.73 |
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 | $2.9B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $9.0B |
| Total Assets | $3.7B | $68.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.9B | ||
| 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 | — | $9.0B | ||
| Q4 25 | $2.5B | $9.1B | ||
| Q3 25 | $3.5B | $9.0B | ||
| Q2 25 | $3.3B | $8.8B | ||
| Q1 25 | $3.2B | $8.6B | ||
| Q4 24 | $3.1B | $5.9B | ||
| Q3 24 | $2.9B | $5.9B | ||
| Q2 24 | $3.0B | $5.7B |
| Q1 26 | — | $68.0B | ||
| Q4 25 | $3.7B | $67.2B | ||
| Q3 25 | $4.5B | $66.0B | ||
| Q2 25 | $4.4B | $65.9B | ||
| Q1 25 | $4.3B | $65.1B | ||
| Q4 24 | $4.1B | $46.4B | ||
| Q3 24 | $3.9B | $46.1B | ||
| Q2 24 | $4.0B | $45.5B |
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 | $232.1M | ||
| Q3 25 | $287.0M | $122.4M | ||
| Q2 25 | $203.0M | $72.6M | ||
| Q1 25 | $298.0M | $-126.3M | ||
| Q4 24 | $153.0M | $354.3M | ||
| Q3 24 | $185.0M | $-246.8M | ||
| Q2 24 | $244.0M | $126.8M |
| Q1 26 | — | — | ||
| Q4 25 | $171.0M | $215.5M | ||
| Q3 25 | $272.0M | $101.7M | ||
| Q2 25 | $187.0M | $52.5M | ||
| Q1 25 | $280.0M | $-139.1M | ||
| Q4 24 | $141.0M | $340.9M | ||
| Q3 24 | $171.0M | $-254.2M | ||
| Q2 24 | $220.0M | $117.3M |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | 37.1% | ||
| Q3 25 | 29.0% | 17.0% | ||
| Q2 25 | 20.5% | 9.1% | ||
| Q1 25 | 31.2% | -25.5% | ||
| Q4 24 | 16.0% | 92.2% | ||
| Q3 24 | 20.1% | -72.3% | ||
| Q2 24 | 26.7% | 33.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 2.9% | ||
| Q3 25 | 1.6% | 3.5% | ||
| Q2 25 | 1.8% | 3.5% | ||
| Q1 25 | 2.0% | 2.4% | ||
| Q4 24 | 1.4% | 3.6% | ||
| Q3 24 | 1.6% | 2.1% | ||
| Q2 24 | 2.9% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 0.94× | ||
| Q3 25 | 1.99× | 0.50× | ||
| Q2 25 | 1.75× | 0.34× | ||
| Q1 25 | 2.81× | -1.42× | ||
| Q4 24 | 1.03× | 2.46× | ||
| Q3 24 | 1.57× | -1.72× | ||
| Q2 24 | 4.00× | 0.96× |
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% |
SSB
| Net Interest Income | $561.6M | 85% |
| Noninterest Income | $100.1M | 15% |
