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Advantage Solutions Inc.（ADV）与Maplebear Inc.（CART）财务数据对比。点击上方公司名可切换其他公司
Maplebear Inc.的季度营收约是Advantage Solutions Inc.的1.1倍（$992.0M vs $932.1M），Maplebear Inc.净利率更高（8.2% vs -17.4%，领先25.5%），Maplebear Inc.同比增速更快（12.3% vs 4.5%），Maplebear Inc.自由现金流更多（$171.0M vs $23.4M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 4.0%）
该公司是一家全球数据与分析企业，为众多行业提供数据技术服务、分析工具、预测洞察与欺诈防范方案，总部位于佐治亚州阿尔法利塔，在美国全境以及澳大利亚、巴西、中国、法国、中国香港、印度、爱尔兰、以色列、菲律宾、英国均设有办公地点。
Maplebear Inc. 以Instacart为品牌开展业务，是总部位于美国旧金山的零售媒体及配送企业，在美国和加拿大运营生鲜杂货配送与自提服务。用户可通过官网及移动应用从合作商户订购食品杂货，在法律允许的地区还可选购酒类商品，所有订单由专属采购专员负责拣选、打包并配送上门。
ADV vs CART — 直观对比
营收规模更大
CART
是对方的1.1倍
$932.1M
营收增速更快
CART
高出7.9%
4.5%
净利率更高
CART
高出25.5%
-17.4%
自由现金流更多
CART
多$147.6M
$23.4M
两年增速更快
CART
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $932.1M | $992.0M |
| 净利润 | $-161.7M | $81.0M |
| 毛利率 | — | 72.3% |
| 营业利润率 | -17.4% | 9.9% |
| 净利率 | -17.4% | 8.2% |
| 营收同比 | 4.5% | 12.3% |
| 净利润同比 | 9.2% | -45.3% |
| 每股收益（稀释后） | — | $0.31 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ADVCART
| Q4 25 | $932.1M | $992.0M | ||
| Q3 25 | $915.0M | $939.0M | ||
| Q2 25 | $873.7M | $914.0M | ||
| Q1 25 | $821.8M | $897.0M | ||
| Q4 24 | $892.3M | $883.0M | ||
| Q3 24 | $939.3M | $852.0M | ||
| Q2 24 | $873.4M | $823.0M | ||
| Q1 24 | $861.4M | $820.0M |
净利润ADVCART
| Q4 25 | $-161.7M | $81.0M | ||
| Q3 25 | $20.6M | $144.0M | ||
| Q2 25 | $-30.4M | $116.0M | ||
| Q1 25 | $-56.1M | $106.0M | ||
| Q4 24 | $-178.0M | $148.0M | ||
| Q3 24 | $-42.8M | $118.0M | ||
| Q2 24 | $-100.8M | $61.0M | ||
| Q1 24 | $-5.3M | $130.0M |
毛利率ADVCART
| 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% |
营业利润率ADVCART
| Q4 25 | -17.4% | 9.9% | ||
| Q3 25 | 4.4% | 17.7% | ||
| Q2 25 | 1.1% | 13.6% | ||
| Q1 25 | -1.8% | 12.3% | ||
| Q4 24 | -19.1% | 17.6% | ||
| Q3 24 | -0.3% | 16.2% | ||
| Q2 24 | -10.4% | 6.3% | ||
| Q1 24 | -3.5% | 17.6% |
净利率ADVCART
| Q4 25 | -17.4% | 8.2% | ||
| Q3 25 | 2.2% | 15.3% | ||
| Q2 25 | -3.5% | 12.7% | ||
| Q1 25 | -6.8% | 11.8% | ||
| Q4 24 | -20.0% | 16.8% | ||
| Q3 24 | -4.6% | 13.8% | ||
| Q2 24 | -11.5% | 7.4% | ||
| Q1 24 | -0.6% | 15.9% |
每股收益（稀释后）ADVCART
| Q4 25 | — | $0.31 | ||
| Q3 25 | — | $0.51 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $0.53 | ||
| Q3 24 | $-0.13 | $0.42 | ||
| Q2 24 | $-0.31 | $0.20 | ||
| Q1 24 | $-0.02 | $0.43 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $240.8M | $687.0M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $554.0M | $2.5B |
| 总资产 | $2.8B | $3.7B |
| 负债/权益比越低杠杆越低 | 3.05× | — |
8季度趋势，按日历期对齐
现金及短期投资ADVCART
| Q4 25 | $240.8M | $687.0M | ||
| Q3 25 | $201.1M | $1.7B | ||
| Q2 25 | $102.9M | $1.6B | ||
| Q1 25 | $121.1M | $1.6B | ||
| Q4 24 | $205.2M | $1.4B | ||
| Q3 24 | $196.1M | $1.3B | ||
| Q2 24 | $154.0M | $1.4B | ||
| Q1 24 | $112.3M | $1.5B |
总债务ADVCART
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADVCART
| Q4 25 | $554.0M | $2.5B | ||
| Q3 25 | $708.5M | $3.5B | ||
| Q2 25 | $683.6M | $3.3B | ||
| Q1 25 | $695.6M | $3.2B | ||
| Q4 24 | $748.7M | $3.1B | ||
| Q3 24 | $932.5M | $2.9B | ||
| Q2 24 | $973.7M | $3.0B | ||
| Q1 24 | $1.1B | $3.1B |
总资产ADVCART
| Q4 25 | $2.8B | $3.7B | ||
| Q3 25 | $3.0B | $4.5B | ||
| Q2 25 | $3.0B | $4.4B | ||
| Q1 25 | $3.0B | $4.3B | ||
| Q4 24 | $3.1B | $4.1B | ||
| Q3 24 | $3.4B | $3.9B | ||
| Q2 24 | $3.5B | $4.0B | ||
| Q1 24 | $3.6B | $4.1B |
负债/权益比ADVCART
| Q4 25 | 3.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $45.6M | $183.0M |
| 自由现金流经营现金流 - 资本支出 | $23.4M | $171.0M |
| 自由现金流率自由现金流/营收 | 2.5% | 17.2% |
| 资本支出强度资本支出/营收 | 2.4% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 2.26× |
| 过去12个月自由现金流最近4个季度 | $10.7M | $910.0M |
8季度趋势，按日历期对齐
经营现金流ADVCART
| Q4 25 | $45.6M | $183.0M | ||
| Q3 25 | $63.6M | $287.0M | ||
| Q2 25 | $-8.1M | $203.0M | ||
| Q1 25 | $-39.6M | $298.0M | ||
| Q4 24 | $15.1M | $153.0M | ||
| Q3 24 | $34.0M | $185.0M | ||
| Q2 24 | $53.4M | $244.0M | ||
| Q1 24 | $-9.4M | $105.0M |
自由现金流ADVCART
| Q4 25 | $23.4M | $171.0M | ||
| Q3 25 | $52.2M | $272.0M | ||
| Q2 25 | $-10.2M | $187.0M | ||
| Q1 25 | $-54.7M | $280.0M | ||
| Q4 24 | $-27.4M | $141.0M | ||
| Q3 24 | $8.6M | $171.0M | ||
| Q2 24 | $43.8M | $220.0M | ||
| Q1 24 | $-24.8M | $91.0M |
自由现金流率ADVCART
| Q4 25 | 2.5% | 17.2% | ||
| Q3 25 | 5.7% | 29.0% | ||
| Q2 25 | -1.2% | 20.5% | ||
| Q1 25 | -6.7% | 31.2% | ||
| Q4 24 | -3.1% | 16.0% | ||
| Q3 24 | 0.9% | 20.1% | ||
| Q2 24 | 5.0% | 26.7% | ||
| Q1 24 | -2.9% | 11.1% |
资本支出强度ADVCART
| Q4 25 | 2.4% | 1.2% | ||
| Q3 25 | 1.3% | 1.6% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 1.8% | 2.0% | ||
| Q4 24 | 4.8% | 1.4% | ||
| Q3 24 | 2.7% | 1.6% | ||
| Q2 24 | 1.1% | 2.9% | ||
| Q1 24 | 1.8% | 1.7% |
现金转化率ADVCART
| Q4 25 | — | 2.26× | ||
| Q3 25 | 3.09× | 1.99× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 2.81× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 4.00× | ||
| Q1 24 | — | 0.81× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ADV
| Experiential Services | $395.9M | 42% |
| Branded Services | $289.8M | 31% |
| Retailer Services | $246.5M | 26% |
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
