vs
Maplebear Inc.（CART）与卡博特（CBT）财务数据对比。点击上方公司名可切换其他公司
Maplebear Inc.的季度营收约是卡博特的1.2倍（$992.0M vs $849.0M），卡博特净利率更高（8.6% vs 8.2%，领先0.4%），Maplebear Inc.同比增速更快（12.3% vs -11.1%），Maplebear Inc.自由现金流更多（$171.0M vs $57.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -8.7%）
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。
卡博特公司是总部位于美国马萨诸塞州波士顿的特种化学品和高性能材料企业，业务覆盖全球20多个国家，拥有36座生产工厂、8个研发中心及28个销售办事处，在特种材料领域具备全球领先的技术和服务能力。
CART vs CBT — 直观对比
营收规模更大
CART
是对方的1.2倍
$849.0M
营收增速更快
CART
高出23.4%
-11.1%
净利率更高
CBT
高出0.4%
8.2%
自由现金流更多
CART
多$114.0M
$57.0M
两年增速更快
CART
近两年复合增速
-8.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $849.0M |
| 净利润 | $81.0M | $73.0M |
| 毛利率 | 72.3% | 24.9% |
| 营业利润率 | 9.9% | 15.2% |
| 净利率 | 8.2% | 8.6% |
| 营收同比 | 12.3% | -11.1% |
| 净利润同比 | -45.3% | -21.5% |
| 每股收益（稀释后） | $0.31 | $1.37 |
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CARTCBT
| Q4 25 | $992.0M | $849.0M | ||
| Q3 25 | $939.0M | $899.0M | ||
| Q2 25 | $914.0M | $923.0M | ||
| Q1 25 | $897.0M | $936.0M | ||
| Q4 24 | $883.0M | $955.0M | ||
| Q3 24 | $852.0M | $1.0B | ||
| Q2 24 | $823.0M | $1.0B | ||
| Q1 24 | $820.0M | $1.0B |
净利润CARTCBT
| Q4 25 | $81.0M | $73.0M | ||
| Q3 25 | $144.0M | $43.0M | ||
| Q2 25 | $116.0M | $101.0M | ||
| Q1 25 | $106.0M | $94.0M | ||
| Q4 24 | $148.0M | $93.0M | ||
| Q3 24 | $118.0M | $137.0M | ||
| Q2 24 | $61.0M | $109.0M | ||
| Q1 24 | $130.0M | $84.0M |
毛利率CARTCBT
| Q4 25 | 72.3% | 24.9% | ||
| Q3 25 | 73.7% | 24.5% | ||
| Q2 25 | 74.2% | 26.4% | ||
| Q1 25 | 74.8% | 25.7% | ||
| Q4 24 | 75.2% | 24.6% | ||
| Q3 24 | 75.2% | 24.0% | ||
| Q2 24 | 75.7% | 25.2% | ||
| Q1 24 | 74.9% | 24.1% |
营业利润率CARTCBT
| Q4 25 | 9.9% | 15.2% | ||
| Q3 25 | 17.7% | 15.2% | ||
| Q2 25 | 13.6% | 18.1% | ||
| Q1 25 | 12.3% | 17.3% | ||
| Q4 24 | 17.6% | 16.2% | ||
| Q3 24 | 16.2% | 15.0% | ||
| Q2 24 | 6.3% | 16.9% | ||
| Q1 24 | 17.6% | 15.3% |
净利率CARTCBT
| Q4 25 | 8.2% | 8.6% | ||
| Q3 25 | 15.3% | 4.8% | ||
| Q2 25 | 12.7% | 10.9% | ||
| Q1 25 | 11.8% | 10.0% | ||
| Q4 24 | 16.8% | 9.7% | ||
| Q3 24 | 13.8% | 13.7% | ||
| Q2 24 | 7.4% | 10.7% | ||
| Q1 24 | 15.9% | 8.2% |
每股收益（稀释后）CARTCBT
| Q4 25 | $0.31 | $1.37 | ||
| Q3 25 | $0.51 | $0.80 | ||
| Q2 25 | $0.41 | $1.86 | ||
| Q1 25 | $0.37 | $1.69 | ||
| Q4 24 | $0.53 | $1.67 | ||
| Q3 24 | $0.42 | $2.41 | ||
| Q2 24 | $0.20 | $1.94 | ||
| Q1 24 | $0.43 | $1.49 |
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 | $687.0M | $230.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $1.6B |
| 总资产 | $3.7B | $3.8B |
| 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CARTCBT
| Q4 25 | $687.0M | $230.0M | ||
| Q3 25 | $1.7B | $258.0M | ||
| Q2 25 | $1.6B | $239.0M | ||
| Q1 25 | $1.6B | $213.0M | ||
| Q4 24 | $1.4B | $183.0M | ||
| Q3 24 | $1.3B | $223.0M | ||
| Q2 24 | $1.4B | $197.0M | ||
| Q1 24 | $1.5B | $206.0M |
总债务CARTCBT
| Q4 25 | — | — | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CARTCBT
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | $3.5B | $1.6B | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $3.2B | $1.4B | ||
| Q4 24 | $3.1B | $1.4B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $3.0B | $1.3B | ||
| Q1 24 | $3.1B | $1.4B |
总资产CARTCBT
| Q4 25 | $3.7B | $3.8B | ||
| Q3 25 | $4.5B | $3.8B | ||
| Q2 25 | $4.4B | $3.8B | ||
| Q1 25 | $4.3B | $3.8B | ||
| Q4 24 | $4.1B | $3.6B | ||
| Q3 24 | $3.9B | $3.7B | ||
| Q2 24 | $4.0B | $3.6B | ||
| Q1 24 | $4.1B | $3.6B |
负债/权益比CARTCBT
| Q4 25 | — | — | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.75× | ||
| 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 | $183.0M | $126.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $57.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 6.7% |
| 资本支出强度资本支出/营收 | 1.2% | 8.1% |
| 现金转化率经营现金流/净利润 | 2.26× | 1.73× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $401.0M |
8季度趋势，按日历期对齐
经营现金流CARTCBT
| Q4 25 | $183.0M | $126.0M | ||
| Q3 25 | $287.0M | $219.0M | ||
| Q2 25 | $203.0M | $249.0M | ||
| Q1 25 | $298.0M | $73.0M | ||
| Q4 24 | $153.0M | $124.0M | ||
| Q3 24 | $185.0M | $204.0M | ||
| Q2 24 | $244.0M | $207.0M | ||
| Q1 24 | $105.0M | $176.0M |
自由现金流CARTCBT
| Q4 25 | $171.0M | $57.0M | ||
| Q3 25 | $272.0M | $155.0M | ||
| Q2 25 | $187.0M | $188.0M | ||
| Q1 25 | $280.0M | $1.0M | ||
| Q4 24 | $141.0M | $47.0M | ||
| Q3 24 | $171.0M | $112.0M | ||
| Q2 24 | $220.0M | $155.0M | ||
| Q1 24 | $91.0M | $133.0M |
自由现金流率CARTCBT
| Q4 25 | 17.2% | 6.7% | ||
| Q3 25 | 29.0% | 17.2% | ||
| Q2 25 | 20.5% | 20.4% | ||
| Q1 25 | 31.2% | 0.1% | ||
| Q4 24 | 16.0% | 4.9% | ||
| Q3 24 | 20.1% | 11.2% | ||
| Q2 24 | 26.7% | 15.3% | ||
| Q1 24 | 11.1% | 13.1% |
资本支出强度CARTCBT
| Q4 25 | 1.2% | 8.1% | ||
| Q3 25 | 1.6% | 7.1% | ||
| Q2 25 | 1.8% | 6.6% | ||
| Q1 25 | 2.0% | 7.7% | ||
| Q4 24 | 1.4% | 8.1% | ||
| Q3 24 | 1.6% | 9.2% | ||
| Q2 24 | 2.9% | 5.1% | ||
| Q1 24 | 1.7% | 4.2% |
现金转化率CARTCBT
| Q4 25 | 2.26× | 1.73× | ||
| Q3 25 | 1.99× | 5.09× | ||
| Q2 25 | 1.75× | 2.47× | ||
| Q1 25 | 2.81× | 0.78× | ||
| Q4 24 | 1.03× | 1.33× | ||
| Q3 24 | 1.57× | 1.49× | ||
| Q2 24 | 4.00× | 1.90× | ||
| Q1 24 | 0.81× | 2.10× |
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
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
CBT
| Reinforcement Materials | $520.0M | 61% |
| Performance Chemicals | $300.0M | 35% |
| Shipping And Handling | $25.0M | 3% |
| Other Products And Services | $4.0M | 0% |
