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CAL-MAINE FOODS INC（CALM）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CAL-MAINE FOODS INC的1.3倍（$992.0M vs $769.5M），CAL-MAINE FOODS INC净利率更高（13.4% vs 8.2%，领先5.2%），Maplebear Inc.同比增速更快（12.3% vs -19.4%），Maplebear Inc.自由现金流更多（$171.0M vs $47.9M），过去两年CAL-MAINE FOODS INC的营收复合增速更高（29.4% vs 10.0%）
卡尔梅恩食品公司是总部位于美国密西西比州里奇兰的鲜蛋生产商，截至2024年是美国规模最大的蛋品企业。公司旗下拥有Egg-Land's Best、Land O'Lakes等多个知名蛋品品牌，1957年由弗雷德·R·亚当斯二世创立，亚当斯家族持有企业控股权，目前在纳斯达克挂牌上市。
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。
CALM vs CART — 直观对比
营收规模更大
CART
是对方的1.3倍
$769.5M
营收增速更快
CART
高出31.7%
-19.4%
净利率更高
CALM
高出5.2%
8.2%
自由现金流更多
CART
多$123.1M
$47.9M
两年增速更快
CALM
近两年复合增速
10.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $769.5M | $992.0M |
| 净利润 | $102.8M | $81.0M |
| 毛利率 | 27.0% | 72.3% |
| 营业利润率 | 16.1% | 9.9% |
| 净利率 | 13.4% | 8.2% |
| 营收同比 | -19.4% | 12.3% |
| 净利润同比 | -53.1% | -45.3% |
| 每股收益（稀释后） | $2.13 | $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CALMCART
| Q4 25 | $769.5M | $992.0M | ||
| Q3 25 | $922.6M | $939.0M | ||
| Q2 25 | — | $914.0M | ||
| Q1 25 | $1.4B | $897.0M | ||
| Q4 24 | $954.7M | $883.0M | ||
| Q3 24 | $785.9M | $852.0M | ||
| Q2 24 | — | $823.0M | ||
| Q1 24 | $703.1M | $820.0M |
净利润CALMCART
| Q4 25 | $102.8M | $81.0M | ||
| Q3 25 | $199.3M | $144.0M | ||
| Q2 25 | — | $116.0M | ||
| Q1 25 | $508.5M | $106.0M | ||
| Q4 24 | $219.1M | $148.0M | ||
| Q3 24 | $150.0M | $118.0M | ||
| Q2 24 | — | $61.0M | ||
| Q1 24 | $146.7M | $130.0M |
毛利率CALMCART
| Q4 25 | 27.0% | 72.3% | ||
| Q3 25 | 33.7% | 73.7% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | 50.5% | 74.8% | ||
| Q4 24 | 37.3% | 75.2% | ||
| Q3 24 | 31.5% | 75.2% | ||
| Q2 24 | — | 75.7% | ||
| Q1 24 | 31.1% | 74.9% |
营业利润率CALMCART
| Q4 25 | 16.1% | 9.9% | ||
| Q3 25 | 27.0% | 17.7% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | 44.8% | 12.3% | ||
| Q4 24 | 29.1% | 17.6% | ||
| Q3 24 | 23.8% | 16.2% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | 23.2% | 17.6% |
净利率CALMCART
| Q4 25 | 13.4% | 8.2% | ||
| Q3 25 | 21.6% | 15.3% | ||
| Q2 25 | — | 12.7% | ||
| Q1 25 | 35.9% | 11.8% | ||
| Q4 24 | 22.9% | 16.8% | ||
| Q3 24 | 19.1% | 13.8% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | 20.9% | 15.9% |
每股收益（稀释后）CALMCART
| Q4 25 | $2.13 | $0.31 | ||
| Q3 25 | $4.12 | $0.51 | ||
| Q2 25 | — | $0.41 | ||
| Q1 25 | $10.38 | $0.37 | ||
| Q4 24 | $4.47 | $0.53 | ||
| Q3 24 | $3.06 | $0.42 | ||
| Q2 24 | — | $0.20 | ||
| Q1 24 | $3.00 | $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 | $369.4M | $687.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.7B | $2.5B |
| 总资产 | $3.1B | $3.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CALMCART
| Q4 25 | $369.4M | $687.0M | ||
| Q3 25 | $251.9M | $1.7B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | $497.2M | $1.6B | ||
| Q4 24 | $140.3M | $1.4B | ||
| Q3 24 | $181.7M | $1.3B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $367.1M | $1.5B |
股东权益CALMCART
| Q4 25 | $2.7B | $2.5B | ||
| Q3 25 | $2.7B | $3.5B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | $2.4B | $3.2B | ||
| Q4 24 | $2.0B | $3.1B | ||
| Q3 24 | $1.9B | $2.9B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | $1.7B | $3.1B |
总资产CALMCART
| Q4 25 | $3.1B | $3.7B | ||
| Q3 25 | $3.2B | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | $3.1B | $4.3B | ||
| Q4 24 | $2.5B | $4.1B | ||
| Q3 24 | $2.4B | $3.9B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | $2.1B | $4.1B |
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 | $94.8M | $183.0M |
| 自由现金流经营现金流 - 资本支出 | $47.9M | $171.0M |
| 自由现金流率自由现金流/营收 | 6.2% | 17.2% |
| 资本支出强度资本支出/营收 | 6.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 0.92× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $895.9M | $910.0M |
8季度趋势，按日历期对齐
经营现金流CALMCART
| Q4 25 | $94.8M | $183.0M | ||
| Q3 25 | $278.6M | $287.0M | ||
| Q2 25 | — | $203.0M | ||
| Q1 25 | $571.6M | $298.0M | ||
| Q4 24 | $122.7M | $153.0M | ||
| Q3 24 | $117.5M | $185.0M | ||
| Q2 24 | — | $244.0M | ||
| Q1 24 | $164.0M | $105.0M |
自由现金流CALMCART
| Q4 25 | $47.9M | $171.0M | ||
| Q3 25 | $233.3M | $272.0M | ||
| Q2 25 | — | $187.0M | ||
| Q1 25 | $521.8M | $280.0M | ||
| Q4 24 | $92.9M | $141.0M | ||
| Q3 24 | $81.7M | $171.0M | ||
| Q2 24 | — | $220.0M | ||
| Q1 24 | $133.8M | $91.0M |
自由现金流率CALMCART
| Q4 25 | 6.2% | 17.2% | ||
| Q3 25 | 25.3% | 29.0% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | 36.8% | 31.2% | ||
| Q4 24 | 9.7% | 16.0% | ||
| Q3 24 | 10.4% | 20.1% | ||
| Q2 24 | — | 26.7% | ||
| Q1 24 | 19.0% | 11.1% |
资本支出强度CALMCART
| Q4 25 | 6.1% | 1.2% | ||
| Q3 25 | 4.9% | 1.6% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | 3.5% | 2.0% | ||
| Q4 24 | 3.1% | 1.4% | ||
| Q3 24 | 4.6% | 1.6% | ||
| Q2 24 | — | 2.9% | ||
| Q1 24 | 4.3% | 1.7% |
现金转化率CALMCART
| Q4 25 | 0.92× | 2.26× | ||
| Q3 25 | 1.40× | 1.99× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | 1.12× | 2.81× | ||
| Q4 24 | 0.56× | 1.03× | ||
| Q3 24 | 0.78× | 1.57× | ||
| Q2 24 | — | 4.00× | ||
| Q1 24 | 1.12× | 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
CALM
| Retail | $625.4M | 81% |
| Prepared Foods | $71.7M | 9% |
| Egg Products | $34.5M | 4% |
| Service Other | $19.2M | 2% |
| Other | $13.8M | 2% |
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
