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Maplebear Inc.（CART）与DXP ENTERPRISES INC（DXPE）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DXP ENTERPRISES INC的1.9倍（$992.0M vs $527.4M），Maplebear Inc.净利率更高（8.2% vs 4.3%，领先3.8%），Maplebear Inc.同比增速更快（12.3% vs 12.0%），Maplebear Inc.自由现金流更多（$171.0M vs $34.5M），过去两年DXP ENTERPRISES INC的营收复合增速更高（13.1% vs 10.0%）
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。
DXP Enterprises Inc.是一家领先的工业分销企业，提供维护、维修、运营（MRO）用品、流体处理设备、泵系统及相关技术服务，主要服务制造业、能源、矿业、建筑等领域客户，核心市场覆盖北美地区。
CART vs DXPE — 直观对比
营收规模更大
CART
是对方的1.9倍
$527.4M
营收增速更快
CART
高出0.4%
12.0%
净利率更高
CART
高出3.8%
4.3%
自由现金流更多
CART
多$136.5M
$34.5M
两年增速更快
DXPE
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $527.4M |
| 净利润 | $81.0M | $22.8M |
| 毛利率 | 72.3% | 31.6% |
| 营业利润率 | 9.9% | 8.8% |
| 净利率 | 8.2% | 4.3% |
| 营收同比 | 12.3% | 12.0% |
| 净利润同比 | -45.3% | 6.9% |
| 每股收益（稀释后） | $0.31 | $1.38 |
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CARTDXPE
| Q4 25 | $992.0M | $527.4M | ||
| Q3 25 | $939.0M | $513.7M | ||
| Q2 25 | $914.0M | $498.7M | ||
| Q1 25 | $897.0M | $476.6M | ||
| Q4 24 | $883.0M | $470.9M | ||
| Q3 24 | $852.0M | $472.9M | ||
| Q2 24 | $823.0M | $445.6M | ||
| Q1 24 | $820.0M | $412.6M |
净利润CARTDXPE
| Q4 25 | $81.0M | $22.8M | ||
| Q3 25 | $144.0M | $21.6M | ||
| Q2 25 | $116.0M | $23.6M | ||
| Q1 25 | $106.0M | $20.6M | ||
| Q4 24 | $148.0M | $21.4M | ||
| Q3 24 | $118.0M | $21.1M | ||
| Q2 24 | $61.0M | $16.7M | ||
| Q1 24 | $130.0M | $11.3M |
毛利率CARTDXPE
| Q4 25 | 72.3% | 31.6% | ||
| Q3 25 | 73.7% | 31.4% | ||
| Q2 25 | 74.2% | 31.6% | ||
| Q1 25 | 74.8% | 31.5% | ||
| Q4 24 | 75.2% | 31.5% | ||
| Q3 24 | 75.2% | 30.9% | ||
| Q2 24 | 75.7% | 30.9% | ||
| Q1 24 | 74.9% | 30.0% |
营业利润率CARTDXPE
| Q4 25 | 9.9% | 8.8% | ||
| Q3 25 | 17.7% | 8.5% | ||
| Q2 25 | 13.6% | 9.2% | ||
| Q1 25 | 12.3% | 8.5% | ||
| Q4 24 | 17.6% | 8.3% | ||
| Q3 24 | 16.2% | 8.4% | ||
| Q2 24 | 6.3% | 8.4% | ||
| Q1 24 | 17.6% | 7.1% |
净利率CARTDXPE
| Q4 25 | 8.2% | 4.3% | ||
| Q3 25 | 15.3% | 4.2% | ||
| Q2 25 | 12.7% | 4.7% | ||
| Q1 25 | 11.8% | 4.3% | ||
| Q4 24 | 16.8% | 4.5% | ||
| Q3 24 | 13.8% | 4.5% | ||
| Q2 24 | 7.4% | 3.7% | ||
| Q1 24 | 15.9% | 2.7% |
每股收益（稀释后）CARTDXPE
| Q4 25 | $0.31 | $1.38 | ||
| Q3 25 | $0.51 | $1.31 | ||
| Q2 25 | $0.41 | $1.43 | ||
| Q1 25 | $0.37 | $1.25 | ||
| Q4 24 | $0.53 | $1.28 | ||
| Q3 24 | $0.42 | $1.27 | ||
| Q2 24 | $0.20 | $1.00 | ||
| Q1 24 | $0.43 | $0.67 |
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 | $303.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $498.4M |
| 总资产 | $3.7B | $1.7B |
| 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CARTDXPE
| Q4 25 | $687.0M | $303.8M | ||
| Q3 25 | $1.7B | $123.8M | ||
| Q2 25 | $1.6B | $112.9M | ||
| Q1 25 | $1.6B | $114.3M | ||
| Q4 24 | $1.4B | $148.3M | ||
| Q3 24 | $1.3B | $35.0M | ||
| Q2 24 | $1.4B | $49.9M | ||
| Q1 24 | $1.5B | $139.7M |
股东权益CARTDXPE
| Q4 25 | $2.5B | $498.4M | ||
| Q3 25 | $3.5B | $488.3M | ||
| Q2 25 | $3.3B | $468.1M | ||
| Q1 25 | $3.2B | $444.7M | ||
| Q4 24 | $3.1B | $422.8M | ||
| Q3 24 | $2.9B | $402.4M | ||
| Q2 24 | $3.0B | $384.7M | ||
| Q1 24 | $3.1B | $375.5M |
总资产CARTDXPE
| Q4 25 | $3.7B | $1.7B | ||
| Q3 25 | $4.5B | $1.4B | ||
| Q2 25 | $4.4B | $1.4B | ||
| Q1 25 | $4.3B | $1.4B | ||
| Q4 24 | $4.1B | $1.3B | ||
| Q3 24 | $3.9B | $1.2B | ||
| Q2 24 | $4.0B | $1.2B | ||
| Q1 24 | $4.1B | $1.2B |
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 | $37.8M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $34.5M |
| 自由现金流率自由现金流/营收 | 17.2% | 6.5% |
| 资本支出强度资本支出/营收 | 1.2% | 0.6% |
| 现金转化率经营现金流/净利润 | 2.26× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $54.0M |
8季度趋势，按日历期对齐
经营现金流CARTDXPE
| Q4 25 | $183.0M | $37.8M | ||
| Q3 25 | $287.0M | $34.9M | ||
| Q2 25 | $203.0M | $18.6M | ||
| Q1 25 | $298.0M | $3.0M | ||
| Q4 24 | $153.0M | $32.1M | ||
| Q3 24 | $185.0M | $28.3M | ||
| Q2 24 | $244.0M | $14.7M | ||
| Q1 24 | $105.0M | $27.0M |
自由现金流CARTDXPE
| Q4 25 | $171.0M | $34.5M | ||
| Q3 25 | $272.0M | $28.1M | ||
| Q2 25 | $187.0M | $8.3M | ||
| Q1 25 | $280.0M | $-16.9M | ||
| Q4 24 | $141.0M | $22.7M | ||
| Q3 24 | $171.0M | $24.4M | ||
| Q2 24 | $220.0M | $5.9M | ||
| Q1 24 | $91.0M | $24.1M |
自由现金流率CARTDXPE
| Q4 25 | 17.2% | 6.5% | ||
| Q3 25 | 29.0% | 5.5% | ||
| Q2 25 | 20.5% | 1.7% | ||
| Q1 25 | 31.2% | -3.6% | ||
| Q4 24 | 16.0% | 4.8% | ||
| Q3 24 | 20.1% | 5.2% | ||
| Q2 24 | 26.7% | 1.3% | ||
| Q1 24 | 11.1% | 5.8% |
资本支出强度CARTDXPE
| Q4 25 | 1.2% | 0.6% | ||
| Q3 25 | 1.6% | 1.3% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 2.0% | 4.2% | ||
| Q4 24 | 1.4% | 2.0% | ||
| Q3 24 | 1.6% | 0.8% | ||
| Q2 24 | 2.9% | 2.0% | ||
| Q1 24 | 1.7% | 0.7% |
现金转化率CARTDXPE
| Q4 25 | 2.26× | 1.65× | ||
| Q3 25 | 1.99× | 1.61× | ||
| Q2 25 | 1.75× | 0.79× | ||
| Q1 25 | 2.81× | 0.14× | ||
| Q4 24 | 1.03× | 1.50× | ||
| Q3 24 | 1.57× | 1.34× | ||
| Q2 24 | 4.00× | 0.88× | ||
| Q1 24 | 0.81× | 2.38× |
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% |
DXPE
| Service Centers | $356.2M | 68% |
| Innovative Pumping Solutions | $110.0M | 21% |
| Supply Chain Services | $61.2M | 12% |
