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Side-by-side financial comparison of Maplebear Inc. (CART) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $625.1M, roughly 1.6× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 8.2%, a 5.2% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 12.3%). Maplebear Inc. produced more free cash flow last quarter ($171.0M vs $140.3M). 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
CART vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $625.1M |
| Net Profit | $81.0M | $83.7M |
| Gross Margin | 72.3% | 49.5% |
| Operating Margin | 9.9% | 18.2% |
| Net Margin | 8.2% | 13.4% |
| Revenue YoY | 12.3% | 15.7% |
| Net Profit YoY | -45.3% | 24.0% |
| 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 | $625.1M | ||
| Q3 25 | $939.0M | $611.7M | ||
| Q2 25 | $914.0M | $643.7M | ||
| Q1 25 | $897.0M | $558.0M | ||
| Q4 24 | $883.0M | $540.4M | ||
| Q3 24 | $852.0M | $543.6M | ||
| Q2 24 | $823.0M | $597.3M | ||
| Q1 24 | $820.0M | $570.9M |
| Q4 25 | $81.0M | $83.7M | ||
| Q3 25 | $144.0M | $82.2M | ||
| Q2 25 | $116.0M | $100.9M | ||
| Q1 25 | $106.0M | $74.0M | ||
| Q4 24 | $148.0M | $67.5M | ||
| Q3 24 | $118.0M | $69.1M | ||
| Q2 24 | $61.0M | $82.0M | ||
| Q1 24 | $130.0M | $72.6M |
| Q4 25 | 72.3% | 49.5% | ||
| Q3 25 | 73.7% | 48.8% | ||
| Q2 25 | 74.2% | 50.6% | ||
| Q1 25 | 74.8% | 48.8% | ||
| Q4 24 | 75.2% | 46.7% | ||
| Q3 24 | 75.2% | 47.3% | ||
| Q2 24 | 75.7% | 47.7% | ||
| Q1 24 | 74.9% | 46.9% |
| Q4 25 | 9.9% | 18.2% | ||
| Q3 25 | 17.7% | 18.2% | ||
| Q2 25 | 13.6% | 21.0% | ||
| Q1 25 | 12.3% | 15.7% | ||
| Q4 24 | 17.6% | 16.5% | ||
| Q3 24 | 16.2% | 17.1% | ||
| Q2 24 | 6.3% | 18.7% | ||
| Q1 24 | 17.6% | 16.9% |
| Q4 25 | 8.2% | 13.4% | ||
| Q3 25 | 15.3% | 13.4% | ||
| Q2 25 | 12.7% | 15.7% | ||
| Q1 25 | 11.8% | 13.3% | ||
| Q4 24 | 16.8% | 12.5% | ||
| Q3 24 | 13.8% | 12.7% | ||
| Q2 24 | 7.4% | 13.7% | ||
| Q1 24 | 15.9% | 12.7% |
| Q4 25 | $0.31 | $2.50 | ||
| Q3 25 | $0.51 | $2.45 | ||
| Q2 25 | $0.41 | $3.01 | ||
| Q1 25 | $0.37 | $2.21 | ||
| Q4 24 | $0.53 | $2.02 | ||
| Q3 24 | $0.42 | $2.06 | ||
| Q2 24 | $0.20 | $2.44 | ||
| Q1 24 | $0.43 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.0B |
| Total Assets | $3.7B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $687.0M | $405.5M | ||
| Q3 25 | $1.7B | $457.7M | ||
| Q2 25 | $1.6B | $369.3M | ||
| Q1 25 | $1.6B | $336.8M | ||
| Q4 24 | $1.4B | $386.9M | ||
| Q3 24 | $1.3B | $303.9M | ||
| Q2 24 | $1.4B | $279.4M | ||
| Q1 24 | $1.5B | $237.1M |
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $3.5B | $2.0B | ||
| Q2 25 | $3.3B | $1.9B | ||
| Q1 25 | $3.2B | $1.8B | ||
| Q4 24 | $3.1B | $1.7B | ||
| Q3 24 | $2.9B | $1.7B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $3.1B | $1.6B |
| Q4 25 | $3.7B | $2.9B | ||
| Q3 25 | $4.5B | $2.7B | ||
| Q2 25 | $4.4B | $2.6B | ||
| Q1 25 | $4.3B | $2.5B | ||
| Q4 24 | $4.1B | $2.4B | ||
| Q3 24 | $3.9B | $2.4B | ||
| Q2 24 | $4.0B | $2.4B | ||
| Q1 24 | $4.1B | $2.3B |
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 | $154.7M |
| Free Cash FlowOCF − Capex | $171.0M | $140.3M |
| FCF MarginFCF / Revenue | 17.2% | 22.4% |
| Capex IntensityCapex / Revenue | 1.2% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.26× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $154.7M | ||
| Q3 25 | $287.0M | $122.4M | ||
| Q2 25 | $203.0M | $69.7M | ||
| Q1 25 | $298.0M | $55.2M | ||
| Q4 24 | $153.0M | $139.5M | ||
| Q3 24 | $185.0M | $90.7M | ||
| Q2 24 | $244.0M | $85.3M | ||
| Q1 24 | $105.0M | $45.6M |
| Q4 25 | $171.0M | $140.3M | ||
| Q3 25 | $272.0M | $110.9M | ||
| Q2 25 | $187.0M | $59.5M | ||
| Q1 25 | $280.0M | $45.6M | ||
| Q4 24 | $141.0M | $127.5M | ||
| Q3 24 | $171.0M | $84.3M | ||
| Q2 24 | $220.0M | $78.5M | ||
| Q1 24 | $91.0M | $35.5M |
| Q4 25 | 17.2% | 22.4% | ||
| Q3 25 | 29.0% | 18.1% | ||
| Q2 25 | 20.5% | 9.2% | ||
| Q1 25 | 31.2% | 8.2% | ||
| Q4 24 | 16.0% | 23.6% | ||
| Q3 24 | 20.1% | 15.5% | ||
| Q2 24 | 26.7% | 13.1% | ||
| Q1 24 | 11.1% | 6.2% |
| Q4 25 | 1.2% | 2.3% | ||
| Q3 25 | 1.6% | 1.9% | ||
| Q2 25 | 1.8% | 1.6% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 1.4% | 2.2% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 2.9% | 1.1% | ||
| Q1 24 | 1.7% | 1.8% |
| Q4 25 | 2.26× | 1.85× | ||
| Q3 25 | 1.99× | 1.49× | ||
| Q2 25 | 1.75× | 0.69× | ||
| Q1 25 | 2.81× | 0.75× | ||
| Q4 24 | 1.03× | 2.07× | ||
| Q3 24 | 1.57× | 1.31× | ||
| Q2 24 | 4.00× | 1.04× | ||
| Q1 24 | 0.81× | 0.63× |
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% |
WTS
Segment breakdown not available.
