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Maplebear Inc.（CART）与FULLER H B CO（FUL）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FULLER H B CO的1.1倍（$992.0M vs $892.0M），Maplebear Inc.净利率更高（8.2% vs 7.5%，领先0.6%），Maplebear Inc.同比增速更快（12.3% vs -2.8%），Maplebear Inc.自由现金流更多（$171.0M vs $68.9M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 5.0%）
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。
H.B.富勒公司是总部位于美国明尼苏达州圣保罗的跨国粘合剂制造企业，全球第四大粘合剂及密封剂生产商。公司拥有超过20000种产品，广泛应用于建筑、工程、电子、卫生用品、食品包装等领域，在26个国家设有81座生产基地，2024年员工规模约7500人。
CART vs FUL — 直观对比
营收规模更大
CART
是对方的1.1倍
$892.0M
营收增速更快
CART
高出15.2%
-2.8%
净利率更高
CART
高出0.6%
7.5%
自由现金流更多
CART
多$102.1M
$68.9M
两年增速更快
CART
近两年复合增速
5.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $892.0M |
| 净利润 | $81.0M | $67.2M |
| 毛利率 | 72.3% | 32.0% |
| 营业利润率 | 9.9% | 12.3% |
| 净利率 | 8.2% | 7.5% |
| 营收同比 | 12.3% | -2.8% |
| 净利润同比 | -45.3% | 21.3% |
| 每股收益（稀释后） | $0.31 | $1.22 |
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CARTFUL
| Q4 25 | $992.0M | — | ||
| Q3 25 | $939.0M | $892.0M | ||
| Q2 25 | $914.0M | $898.1M | ||
| Q1 25 | $897.0M | — | ||
| Q4 24 | $883.0M | — | ||
| Q3 24 | $852.0M | $917.9M | ||
| Q2 24 | $823.0M | — | ||
| Q1 24 | $820.0M | $810.4M |
净利润CARTFUL
| Q4 25 | $81.0M | — | ||
| Q3 25 | $144.0M | $67.2M | ||
| Q2 25 | $116.0M | $41.8M | ||
| Q1 25 | $106.0M | — | ||
| Q4 24 | $148.0M | — | ||
| Q3 24 | $118.0M | $55.4M | ||
| Q2 24 | $61.0M | — | ||
| Q1 24 | $130.0M | $31.0M |
毛利率CARTFUL
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | 32.0% | ||
| Q2 25 | 74.2% | 31.9% | ||
| Q1 25 | 74.8% | — | ||
| Q4 24 | 75.2% | — | ||
| Q3 24 | 75.2% | 30.0% | ||
| Q2 24 | 75.7% | — | ||
| Q1 24 | 74.9% | 29.5% |
营业利润率CARTFUL
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | 12.3% | ||
| Q2 25 | 13.6% | 11.1% | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 16.2% | 11.4% | ||
| Q2 24 | 6.3% | — | ||
| Q1 24 | 17.6% | 8.3% |
净利率CARTFUL
| Q4 25 | 8.2% | — | ||
| Q3 25 | 15.3% | 7.5% | ||
| Q2 25 | 12.7% | 4.7% | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 13.8% | 6.0% | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 15.9% | 3.8% |
每股收益（稀释后）CARTFUL
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.51 | $1.22 | ||
| Q2 25 | $0.41 | $0.76 | ||
| Q1 25 | $0.37 | — | ||
| Q4 24 | $0.53 | — | ||
| Q3 24 | $0.42 | $0.98 | ||
| Q2 24 | $0.20 | — | ||
| Q1 24 | $0.43 | $0.55 |
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 | $122.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $2.0B |
| 总资产 | $3.7B | $5.2B |
| 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CARTFUL
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | $122.5M | ||
| Q2 25 | $1.6B | $96.8M | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $131.4M | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | $165.2M |
股东权益CARTFUL
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.5B | $2.0B | ||
| Q2 25 | $3.3B | $1.9B | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.1B | $1.8B |
总资产CARTFUL
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.5B | $5.2B | ||
| Q2 25 | $4.4B | $5.1B | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $3.9B | $5.0B | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $4.1B | $4.7B |
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 | $99.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $68.9M |
| 自由现金流率自由现金流/营收 | 17.2% | 7.7% |
| 资本支出强度资本支出/营收 | 1.2% | 3.4% |
| 现金转化率经营现金流/净利润 | 2.26× | 1.47× |
| 过去12个月自由现金流最近4个季度 | $910.0M | — |
8季度趋势，按日历期对齐
经营现金流CARTFUL
| Q4 25 | $183.0M | — | ||
| Q3 25 | $287.0M | $99.0M | ||
| Q2 25 | $203.0M | — | ||
| Q1 25 | $298.0M | — | ||
| Q4 24 | $153.0M | — | ||
| Q3 24 | $185.0M | $169.4M | ||
| Q2 24 | $244.0M | — | ||
| Q1 24 | $105.0M | $47.4M |
自由现金流CARTFUL
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | $68.9M | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | $99.9M | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $91.0M | $4.1M |
自由现金流率CARTFUL
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | 7.7% | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | 10.9% | ||
| Q2 24 | 26.7% | — | ||
| Q1 24 | 11.1% | 0.5% |
资本支出强度CARTFUL
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | 3.4% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | 7.6% | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 1.7% | 5.3% |
现金转化率CARTFUL
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 1.47× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | 3.06× | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.81× | 1.53× |
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% |
FUL
| Hygiene Health And Consumable Adhesives | $386.1M | 43% |
| Engineering Adhesives | $272.3M | 31% |
| Building Adhesives Solutions | $233.7M | 26% |
