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Side-by-side financial comparison of Maplebear Inc. (CART) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
Maplebear Inc. is the larger business by last-quarter revenue ($992.0M vs $891.0M, roughly 1.1× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 8.2%, a 21.4% gap on every dollar of revenue. On growth, Maplebear Inc. posted the faster year-over-year revenue change (12.3% vs 8.7%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $171.0M). Over the past eight quarters, Maplebear Inc.'s revenue compounded faster (10.0% CAGR vs 9.6%).
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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
CART vs ZION — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $992.0M | $891.0M |
| Net Profit | $81.0M | $263.0M |
| Gross Margin | 72.3% | — |
| Operating Margin | 9.9% | — |
| Net Margin | 8.2% | 29.5% |
| Revenue YoY | 12.3% | 8.7% |
| Net Profit YoY | -45.3% | 21.8% |
| EPS (diluted) | $0.31 | $1.77 |
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 | $891.0M | ||
| Q3 25 | $939.0M | $861.0M | ||
| Q2 25 | $914.0M | $838.0M | ||
| Q1 25 | $897.0M | $795.0M | ||
| Q4 24 | $883.0M | $820.0M | ||
| Q3 24 | $852.0M | $792.0M | ||
| Q2 24 | $823.0M | $777.0M | ||
| Q1 24 | $820.0M | $742.0M |
| Q4 25 | $81.0M | $263.0M | ||
| Q3 25 | $144.0M | $222.0M | ||
| Q2 25 | $116.0M | $244.0M | ||
| Q1 25 | $106.0M | $170.0M | ||
| Q4 24 | $148.0M | $216.0M | ||
| Q3 24 | $118.0M | $214.0M | ||
| Q2 24 | $61.0M | $201.0M | ||
| Q1 24 | $130.0M | $153.0M |
| 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 24 | 74.9% | — |
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 13.6% | — | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 16.2% | — | ||
| Q2 24 | 6.3% | — | ||
| Q1 24 | 17.6% | — |
| Q4 25 | 8.2% | 29.5% | ||
| Q3 25 | 15.3% | 25.8% | ||
| Q2 25 | 12.7% | 29.1% | ||
| Q1 25 | 11.8% | 21.4% | ||
| Q4 24 | 16.8% | 26.3% | ||
| Q3 24 | 13.8% | 27.0% | ||
| Q2 24 | 7.4% | 25.9% | ||
| Q1 24 | 15.9% | 20.6% |
| Q4 25 | $0.31 | $1.77 | ||
| Q3 25 | $0.51 | $1.48 | ||
| Q2 25 | $0.41 | $1.63 | ||
| Q1 25 | $0.37 | $1.13 | ||
| Q4 24 | $0.53 | $1.34 | ||
| Q3 24 | $0.42 | $1.37 | ||
| Q2 24 | $0.20 | $1.28 | ||
| Q1 24 | $0.43 | $0.96 |
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 | — |
| Total DebtLower is stronger | — | $1.5B |
| Stockholders' EquityBook value | $2.5B | $7.2B |
| Total Assets | $3.7B | $89.0B |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $1.5B | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $970.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $950.0M | ||
| Q3 24 | — | $548.0M | ||
| Q2 24 | — | $546.0M | ||
| Q1 24 | — | $544.0M |
| Q4 25 | $2.5B | $7.2B | ||
| Q3 25 | $3.5B | $6.9B | ||
| Q2 25 | $3.3B | $6.6B | ||
| Q1 25 | $3.2B | $6.3B | ||
| Q4 24 | $3.1B | $6.1B | ||
| Q3 24 | $2.9B | $6.4B | ||
| Q2 24 | $3.0B | $6.0B | ||
| Q1 24 | $3.1B | $5.8B |
| Q4 25 | $3.7B | $89.0B | ||
| Q3 25 | $4.5B | $88.5B | ||
| Q2 25 | $4.4B | $88.9B | ||
| Q1 25 | $4.3B | $88.0B | ||
| Q4 24 | $4.1B | $88.8B | ||
| Q3 24 | $3.9B | $87.0B | ||
| Q2 24 | $4.0B | $87.6B | ||
| Q1 24 | $4.1B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $171.0M | $952.0M |
| FCF MarginFCF / Revenue | 17.2% | 106.8% |
| Capex IntensityCapex / Revenue | 1.2% | 13.6% |
| Cash ConversionOCF / Net Profit | 2.26× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $910.0M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.0M | $1.1B | ||
| Q3 25 | $287.0M | $438.0M | ||
| Q2 25 | $203.0M | $-62.0M | ||
| Q1 25 | $298.0M | $179.0M | ||
| Q4 24 | $153.0M | $1.1B | ||
| Q3 24 | $185.0M | $119.0M | ||
| Q2 24 | $244.0M | $251.0M | ||
| Q1 24 | $105.0M | $261.0M |
| Q4 25 | $171.0M | $952.0M | ||
| Q3 25 | $272.0M | $413.0M | ||
| Q2 25 | $187.0M | $-93.0M | ||
| Q1 25 | $280.0M | $152.0M | ||
| Q4 24 | $141.0M | $1.1B | ||
| Q3 24 | $171.0M | $97.0M | ||
| Q2 24 | $220.0M | $234.0M | ||
| Q1 24 | $91.0M | $231.0M |
| Q4 25 | 17.2% | 106.8% | ||
| Q3 25 | 29.0% | 48.0% | ||
| Q2 25 | 20.5% | -11.1% | ||
| Q1 25 | 31.2% | 19.1% | ||
| Q4 24 | 16.0% | 128.2% | ||
| Q3 24 | 20.1% | 12.2% | ||
| Q2 24 | 26.7% | 30.1% | ||
| Q1 24 | 11.1% | 31.1% |
| Q4 25 | 1.2% | 13.6% | ||
| Q3 25 | 1.6% | 2.9% | ||
| Q2 25 | 1.8% | 3.7% | ||
| Q1 25 | 2.0% | 3.4% | ||
| Q4 24 | 1.4% | 11.8% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 2.9% | 2.2% | ||
| Q1 24 | 1.7% | 4.0% |
| Q4 25 | 2.26× | 4.08× | ||
| Q3 25 | 1.99× | 1.97× | ||
| Q2 25 | 1.75× | -0.25× | ||
| Q1 25 | 2.81× | 1.05× | ||
| Q4 24 | 1.03× | 5.31× | ||
| Q3 24 | 1.57× | 0.56× | ||
| Q2 24 | 4.00× | 1.25× | ||
| Q1 24 | 0.81× | 1.71× |
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% |
ZION
Segment breakdown not available.
