vs
Maplebear Inc.（CART）与格罗方德（GFS）财务数据对比。点击上方公司名可切换其他公司
格罗方德的季度营收约是Maplebear Inc.的1.7倍（$1.7B vs $992.0M），格罗方德净利率更高（14.8% vs 8.2%，领先6.6%），Maplebear Inc.同比增速更快（12.3% vs -2.9%），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -4.3%）
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。
格罗方德是跨国半导体代工及设计企业，注册地为开曼群岛，总部位于美国纽约州马耳他。公司2009年3月由AMD制造业务分拆成立，2021年10月完成首次公开募股，阿联酋主权财富基金穆巴达拉投资公司目前仍持有其82%的多数股权。
CART vs GFS — 直观对比
营收规模更大
GFS
是对方的1.7倍
$992.0M
营收增速更快
CART
高出15.3%
-2.9%
净利率更高
GFS
高出6.6%
8.2%
两年增速更快
CART
近两年复合增速
-4.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.7B |
| 净利润 | $81.0M | $249.0M |
| 毛利率 | 72.3% | 24.8% |
| 营业利润率 | 9.9% | 11.6% |
| 净利率 | 8.2% | 14.8% |
| 营收同比 | 12.3% | -2.9% |
| 净利润同比 | -45.3% | 39.9% |
| 每股收益（稀释后） | $0.31 | $0.44 |
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CARTGFS
| Q4 25 | $992.0M | — | ||
| Q3 25 | $939.0M | $1.7B | ||
| Q2 25 | $914.0M | $1.7B | ||
| Q1 25 | $897.0M | $1.6B | ||
| Q4 24 | $883.0M | — | ||
| Q3 24 | $852.0M | $1.7B | ||
| Q2 24 | $823.0M | $1.6B | ||
| Q1 24 | $820.0M | $1.5B |
净利润CARTGFS
| Q4 25 | $81.0M | — | ||
| Q3 25 | $144.0M | $249.0M | ||
| Q2 25 | $116.0M | $228.0M | ||
| Q1 25 | $106.0M | $211.0M | ||
| Q4 24 | $148.0M | — | ||
| Q3 24 | $118.0M | $178.0M | ||
| Q2 24 | $61.0M | $155.0M | ||
| Q1 24 | $130.0M | $134.0M |
毛利率CARTGFS
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | 24.8% | ||
| Q2 25 | 74.2% | 24.2% | ||
| Q1 25 | 74.8% | 22.4% | ||
| Q4 24 | 75.2% | — | ||
| Q3 24 | 75.2% | 23.8% | ||
| Q2 24 | 75.7% | 24.2% | ||
| Q1 24 | 74.9% | 25.4% |
营业利润率CARTGFS
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | 11.6% | ||
| Q2 25 | 13.6% | 11.6% | ||
| Q1 25 | 12.3% | 9.5% | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 16.2% | 10.6% | ||
| Q2 24 | 6.3% | 9.5% | ||
| Q1 24 | 17.6% | 9.5% |
净利率CARTGFS
| Q4 25 | 8.2% | — | ||
| Q3 25 | 15.3% | 14.8% | ||
| Q2 25 | 12.7% | 13.5% | ||
| Q1 25 | 11.8% | 13.3% | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 13.8% | 10.2% | ||
| Q2 24 | 7.4% | 9.5% | ||
| Q1 24 | 15.9% | 8.7% |
每股收益（稀释后）CARTGFS
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.51 | $0.44 | ||
| Q2 25 | $0.41 | $0.41 | ||
| Q1 25 | $0.37 | $0.38 | ||
| Q4 24 | $0.53 | — | ||
| Q3 24 | $0.42 | $0.32 | ||
| Q2 24 | $0.20 | $0.28 | ||
| Q1 24 | $0.43 | $0.24 |
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 | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $11.8B |
| 总资产 | $3.7B | $16.7B |
| 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CARTGFS
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.4B | $2.2B | ||
| Q1 24 | $1.5B | $2.2B |
股东权益CARTGFS
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.5B | $11.8B | ||
| Q2 25 | $3.3B | $11.5B | ||
| Q1 25 | $3.2B | $11.1B | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $2.9B | $11.6B | ||
| Q2 24 | $3.0B | $11.3B | ||
| Q1 24 | $3.1B | $11.3B |
总资产CARTGFS
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.5B | $16.7B | ||
| Q2 25 | $4.4B | $16.8B | ||
| Q1 25 | $4.3B | $16.5B | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $3.9B | $18.1B | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $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 | $183.0M | $595.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | — |
| 自由现金流率自由现金流/营收 | 17.2% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 2.26× | 2.39× |
| 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CARTGFS
| Q4 25 | $183.0M | — | ||
| Q3 25 | $287.0M | $595.0M | ||
| Q2 25 | $203.0M | $431.0M | ||
| Q1 25 | $298.0M | $331.0M | ||
| Q4 24 | $153.0M | — | ||
| Q3 24 | $185.0M | $375.0M | ||
| Q2 24 | $244.0M | $402.0M | ||
| Q1 24 | $105.0M | $488.0M |
自由现金流CARTGFS
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | — | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $91.0M | — |
自由现金流率CARTGFS
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 26.7% | — | ||
| Q1 24 | 11.1% | — |
资本支出强度CARTGFS
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 1.7% | — |
现金转化率CARTGFS
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 2.39× | ||
| Q2 25 | 1.75× | 1.89× | ||
| Q1 25 | 2.81× | 1.57× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | 2.11× | ||
| Q2 24 | 4.00× | 2.59× | ||
| Q1 24 | 0.81× | 3.64× |
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% |
GFS
| Smart Mobile Devices | $752.0M | 45% |
| Automotive | $306.0M | 18% |
| Home And Industrial Io T | $258.0M | 15% |
| Goods Or Services Transferred Over Time | $198.0M | 12% |
| Communications Infrastructure Datacenter | $175.0M | 10% |
