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Side-by-side financial comparison of Maplebear Inc. (CART) and Teradyne (TER). Click either name above to swap in a different company.
Teradyne is the larger business by last-quarter revenue ($1.1B vs $992.0M, roughly 1.1× Maplebear Inc.). Teradyne runs the higher net margin — 23.7% vs 8.2%, a 15.6% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (43.9% vs 12.3%). Teradyne produced more free cash flow last quarter ($218.8M vs $171.0M). Over the past eight quarters, Teradyne's revenue compounded faster (34.4% 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.
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
CART vs TER — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $1.1B |
| Net Profit | $81.0M | $257.2M |
| Gross Margin | 72.3% | 57.2% |
| Operating Margin | 9.9% | 27.1% |
| Net Margin | 8.2% | 23.7% |
| Revenue YoY | 12.3% | 43.9% |
| Net Profit YoY | -45.3% | 75.9% |
| EPS (diluted) | $0.31 | $1.62 |
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 | $1.1B | ||
| Q3 25 | $939.0M | $769.2M | ||
| Q2 25 | $914.0M | $651.8M | ||
| Q1 25 | $897.0M | $685.7M | ||
| Q4 24 | $883.0M | $752.9M | ||
| Q3 24 | $852.0M | $737.3M | ||
| Q2 24 | $823.0M | $729.9M | ||
| Q1 24 | $820.0M | $599.8M |
| Q4 25 | $81.0M | $257.2M | ||
| Q3 25 | $144.0M | $119.6M | ||
| Q2 25 | $116.0M | $78.4M | ||
| Q1 25 | $106.0M | $98.9M | ||
| Q4 24 | $148.0M | $146.3M | ||
| Q3 24 | $118.0M | $145.6M | ||
| Q2 24 | $61.0M | $186.3M | ||
| Q1 24 | $130.0M | $64.2M |
| Q4 25 | 72.3% | 57.2% | ||
| Q3 25 | 73.7% | 58.4% | ||
| Q2 25 | 74.2% | 57.2% | ||
| Q1 25 | 74.8% | 60.6% | ||
| Q4 24 | 75.2% | 59.4% | ||
| Q3 24 | 75.2% | 59.2% | ||
| Q2 24 | 75.7% | 58.3% | ||
| Q1 24 | 74.9% | 56.6% |
| Q4 25 | 9.9% | 27.1% | ||
| Q3 25 | 17.7% | 18.9% | ||
| Q2 25 | 13.6% | 13.9% | ||
| Q1 25 | 12.3% | 17.6% | ||
| Q4 24 | 17.6% | 20.4% | ||
| Q3 24 | 16.2% | 20.6% | ||
| Q2 24 | 6.3% | 28.8% | ||
| Q1 24 | 17.6% | 13.0% |
| Q4 25 | 8.2% | 23.7% | ||
| Q3 25 | 15.3% | 15.5% | ||
| Q2 25 | 12.7% | 12.0% | ||
| Q1 25 | 11.8% | 14.4% | ||
| Q4 24 | 16.8% | 19.4% | ||
| Q3 24 | 13.8% | 19.8% | ||
| Q2 24 | 7.4% | 25.5% | ||
| Q1 24 | 15.9% | 10.7% |
| Q4 25 | $0.31 | $1.62 | ||
| Q3 25 | $0.51 | $0.75 | ||
| Q2 25 | $0.41 | $0.49 | ||
| Q1 25 | $0.37 | $0.61 | ||
| Q4 24 | $0.53 | $0.89 | ||
| Q3 24 | $0.42 | $0.89 | ||
| Q2 24 | $0.20 | $1.14 | ||
| Q1 24 | $0.43 | $0.40 |
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 | $293.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.8B |
| Total Assets | $3.7B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $293.8M | ||
| Q3 25 | $1.7B | $272.7M | ||
| Q2 25 | $1.6B | $339.3M | ||
| Q1 25 | $1.6B | $475.6M | ||
| Q4 24 | $1.4B | $553.4M | ||
| Q3 24 | $1.3B | $510.0M | ||
| Q2 24 | $1.4B | $421.9M | ||
| Q1 24 | $1.5B | $707.4M |
| Q4 25 | $2.5B | $2.8B | ||
| Q3 25 | $3.5B | $2.7B | ||
| Q2 25 | $3.3B | $2.8B | ||
| Q1 25 | $3.2B | $2.8B | ||
| Q4 24 | $3.1B | $2.8B | ||
| Q3 24 | $2.9B | $2.9B | ||
| Q2 24 | $3.0B | $2.7B | ||
| Q1 24 | $3.1B | $2.6B |
| Q4 25 | $3.7B | $4.2B | ||
| Q3 25 | $4.5B | $4.0B | ||
| Q2 25 | $4.4B | $3.8B | ||
| Q1 25 | $4.3B | $3.7B | ||
| Q4 24 | $4.1B | $3.7B | ||
| Q3 24 | $3.9B | $3.8B | ||
| Q2 24 | $4.0B | $3.6B | ||
| Q1 24 | $4.1B | $3.4B |
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 | $281.6M |
| Free Cash FlowOCF − Capex | $171.0M | $218.8M |
| FCF MarginFCF / Revenue | 17.2% | 20.2% |
| Capex IntensityCapex / Revenue | 1.2% | 5.8% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.09× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $450.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $281.6M | ||
| Q3 25 | $287.0M | $49.0M | ||
| Q2 25 | $203.0M | $182.1M | ||
| Q1 25 | $298.0M | $161.6M | ||
| Q4 24 | $153.0M | $282.6M | ||
| Q3 24 | $185.0M | $166.3M | ||
| Q2 24 | $244.0M | $216.1M | ||
| Q1 24 | $105.0M | $7.3M |
| Q4 25 | $171.0M | $218.8M | ||
| Q3 25 | $272.0M | $2.4M | ||
| Q2 25 | $187.0M | $131.7M | ||
| Q1 25 | $280.0M | $97.6M | ||
| Q4 24 | $141.0M | $225.2M | ||
| Q3 24 | $171.0M | $114.4M | ||
| Q2 24 | $220.0M | $171.2M | ||
| Q1 24 | $91.0M | $-36.7M |
| Q4 25 | 17.2% | 20.2% | ||
| Q3 25 | 29.0% | 0.3% | ||
| Q2 25 | 20.5% | 20.2% | ||
| Q1 25 | 31.2% | 14.2% | ||
| Q4 24 | 16.0% | 29.9% | ||
| Q3 24 | 20.1% | 15.5% | ||
| Q2 24 | 26.7% | 23.5% | ||
| Q1 24 | 11.1% | -6.1% |
| Q4 25 | 1.2% | 5.8% | ||
| Q3 25 | 1.6% | 6.1% | ||
| Q2 25 | 1.8% | 7.7% | ||
| Q1 25 | 2.0% | 9.3% | ||
| Q4 24 | 1.4% | 7.6% | ||
| Q3 24 | 1.6% | 7.0% | ||
| Q2 24 | 2.9% | 6.1% | ||
| Q1 24 | 1.7% | 7.3% |
| Q4 25 | 2.26× | 1.09× | ||
| Q3 25 | 1.99× | 0.41× | ||
| Q2 25 | 1.75× | 2.32× | ||
| Q1 25 | 2.81× | 1.63× | ||
| Q4 24 | 1.03× | 1.93× | ||
| Q3 24 | 1.57× | 1.14× | ||
| Q2 24 | 4.00× | 1.16× | ||
| Q1 24 | 0.81× | 0.11× |
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% |
TER
| Soc | $646.5M | 60% |
| Memory | $206.5M | 19% |
| Transferred At Point In Time | $90.0M | 8% |
| Universal Robots | $89.4M | 8% |
| IST | $30.5M | 3% |
| Transferred Over Time | $20.5M | 2% |
