vs
Maplebear Inc.（CART）与宜瑞安（INGR）财务数据对比。点击上方公司名可切换其他公司
宜瑞安的季度营收约是Maplebear Inc.的1.8倍（$1.8B vs $992.0M），宜瑞安净利率更高（9.5% vs 8.2%，领先1.3%），Maplebear Inc.同比增速更快（12.3% vs -2.4%），宜瑞安自由现金流更多（$270.0M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -3.4%）
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。
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
CART vs INGR — 直观对比
营收规模更大
INGR
是对方的1.8倍
$992.0M
营收增速更快
CART
高出14.7%
-2.4%
净利率更高
INGR
高出1.3%
8.2%
自由现金流更多
INGR
多$99.0M
$171.0M
两年增速更快
CART
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.8B |
| 净利润 | $81.0M | $167.0M |
| 毛利率 | 72.3% | 24.5% |
| 营业利润率 | 9.9% | 12.5% |
| 净利率 | 8.2% | 9.5% |
| 营收同比 | 12.3% | -2.4% |
| 净利润同比 | -45.3% | 72.2% |
| 每股收益（稀释后） | $0.31 | $2.58 |
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CARTINGR
| Q4 25 | $992.0M | $1.8B | ||
| Q3 25 | $939.0M | $1.8B | ||
| Q2 25 | $914.0M | $1.8B | ||
| Q1 25 | $897.0M | $1.8B | ||
| Q4 24 | $883.0M | $1.8B | ||
| Q3 24 | $852.0M | $1.9B | ||
| Q2 24 | $823.0M | $1.9B | ||
| Q1 24 | $820.0M | $1.9B |
净利润CARTINGR
| Q4 25 | $81.0M | $167.0M | ||
| Q3 25 | $144.0M | $171.0M | ||
| Q2 25 | $116.0M | $196.0M | ||
| Q1 25 | $106.0M | $197.0M | ||
| Q4 24 | $148.0M | $97.0M | ||
| Q3 24 | $118.0M | $188.0M | ||
| Q2 24 | $61.0M | $148.0M | ||
| Q1 24 | $130.0M | $216.0M |
毛利率CARTINGR
| Q4 25 | 72.3% | 24.5% | ||
| Q3 25 | 73.7% | 25.1% | ||
| Q2 25 | 74.2% | 26.0% | ||
| Q1 25 | 74.8% | 25.7% | ||
| Q4 24 | 75.2% | 24.9% | ||
| Q3 24 | 75.2% | 25.6% | ||
| Q2 24 | 75.7% | 23.7% | ||
| Q1 24 | 74.9% | 22.2% |
营业利润率CARTINGR
| Q4 25 | 9.9% | 12.5% | ||
| Q3 25 | 17.7% | 13.7% | ||
| Q2 25 | 13.6% | 14.8% | ||
| Q1 25 | 12.3% | 15.2% | ||
| Q4 24 | 17.6% | 9.0% | ||
| Q3 24 | 16.2% | 14.3% | ||
| Q2 24 | 6.3% | 12.8% | ||
| Q1 24 | 17.6% | 11.3% |
净利率CARTINGR
| Q4 25 | 8.2% | 9.5% | ||
| Q3 25 | 15.3% | 9.4% | ||
| Q2 25 | 12.7% | 10.7% | ||
| Q1 25 | 11.8% | 10.9% | ||
| Q4 24 | 16.8% | 5.4% | ||
| Q3 24 | 13.8% | 10.1% | ||
| Q2 24 | 7.4% | 7.9% | ||
| Q1 24 | 15.9% | 11.5% |
每股收益（稀释后）CARTINGR
| Q4 25 | $0.31 | $2.58 | ||
| Q3 25 | $0.51 | $2.61 | ||
| Q2 25 | $0.41 | $2.99 | ||
| Q1 25 | $0.37 | $3.00 | ||
| Q4 24 | $0.53 | $1.43 | ||
| Q3 24 | $0.42 | $2.83 | ||
| Q2 24 | $0.20 | $2.22 | ||
| Q1 24 | $0.43 | $3.23 |
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 | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $4.3B |
| 总资产 | $3.7B | $7.9B |
| 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CARTINGR
| Q4 25 | $687.0M | $1.0B | ||
| Q3 25 | $1.7B | $915.0M | ||
| Q2 25 | $1.6B | $861.0M | ||
| Q1 25 | $1.6B | $837.0M | ||
| Q4 24 | $1.4B | $997.0M | ||
| Q3 24 | $1.3B | $877.0M | ||
| Q2 24 | $1.4B | $505.0M | ||
| Q1 24 | $1.5B | $438.0M |
股东权益CARTINGR
| Q4 25 | $2.5B | $4.3B | ||
| Q3 25 | $3.5B | $4.2B | ||
| Q2 25 | $3.3B | $4.2B | ||
| Q1 25 | $3.2B | $4.0B | ||
| Q4 24 | $3.1B | $3.8B | ||
| Q3 24 | $2.9B | $4.0B | ||
| Q2 24 | $3.0B | $3.7B | ||
| Q1 24 | $3.1B | $3.7B |
总资产CARTINGR
| Q4 25 | $3.7B | $7.9B | ||
| Q3 25 | $4.5B | $7.8B | ||
| Q2 25 | $4.4B | $7.8B | ||
| Q1 25 | $4.3B | $7.5B | ||
| Q4 24 | $4.1B | $7.4B | ||
| Q3 24 | $3.9B | $7.5B | ||
| Q2 24 | $4.0B | $7.2B | ||
| Q1 24 | $4.1B | $7.3B |
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 | $405.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $270.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 15.4% |
| 资本支出强度资本支出/营收 | 1.2% | 7.7% |
| 现金转化率经营现金流/净利润 | 2.26× | 2.43× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $511.0M |
8季度趋势，按日历期对齐
经营现金流CARTINGR
| Q4 25 | $183.0M | $405.0M | ||
| Q3 25 | $287.0M | $277.0M | ||
| Q2 25 | $203.0M | $185.0M | ||
| Q1 25 | $298.0M | $77.0M | ||
| Q4 24 | $153.0M | $436.0M | ||
| Q3 24 | $185.0M | $479.0M | ||
| Q2 24 | $244.0M | $312.0M | ||
| Q1 24 | $105.0M | $209.0M |
自由现金流CARTINGR
| Q4 25 | $171.0M | $270.0M | ||
| Q3 25 | $272.0M | $172.0M | ||
| Q2 25 | $187.0M | $84.0M | ||
| Q1 25 | $280.0M | $-15.0M | ||
| Q4 24 | $141.0M | $311.0M | ||
| Q3 24 | $171.0M | $429.0M | ||
| Q2 24 | $220.0M | $257.0M | ||
| Q1 24 | $91.0M | $144.0M |
自由现金流率CARTINGR
| Q4 25 | 17.2% | 15.4% | ||
| Q3 25 | 29.0% | 9.5% | ||
| Q2 25 | 20.5% | 4.6% | ||
| Q1 25 | 31.2% | -0.8% | ||
| Q4 24 | 16.0% | 17.3% | ||
| Q3 24 | 20.1% | 22.9% | ||
| Q2 24 | 26.7% | 13.7% | ||
| Q1 24 | 11.1% | 7.7% |
资本支出强度CARTINGR
| Q4 25 | 1.2% | 7.7% | ||
| Q3 25 | 1.6% | 5.8% | ||
| Q2 25 | 1.8% | 5.5% | ||
| Q1 25 | 2.0% | 5.1% | ||
| Q4 24 | 1.4% | 6.9% | ||
| Q3 24 | 1.6% | 2.7% | ||
| Q2 24 | 2.9% | 2.9% | ||
| Q1 24 | 1.7% | 3.5% |
现金转化率CARTINGR
| Q4 25 | 2.26× | 2.43× | ||
| Q3 25 | 1.99× | 1.62× | ||
| Q2 25 | 1.75× | 0.94× | ||
| Q1 25 | 2.81× | 0.39× | ||
| Q4 24 | 1.03× | 4.49× | ||
| Q3 24 | 1.57× | 2.55× | ||
| Q2 24 | 4.00× | 2.11× | ||
| Q1 24 | 0.81× | 0.97× |
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% |
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
