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Maplebear Inc.（CART）与LAMAR ADVERTISING CO（LAMR）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LAMAR ADVERTISING CO的1.7倍（$992.0M vs $595.9M），LAMAR ADVERTISING CO净利率更高（25.6% vs 8.2%，领先17.4%），Maplebear Inc.同比增速更快（12.3% vs 2.8%），LAMAR ADVERTISING CO自由现金流更多（$208.3M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 9.4%）
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。
拉马尔广告是一家知名户外广告服务商，1902年由查尔斯·W·拉马尔与J.M.科伊创立，总部位于美国路易斯安那州巴吞鲁日。公司业务覆盖美国与加拿大，在两地设有超200个运营网点，旗下在美国境内拥有超过36.3万个广告展示位，涵盖广告牌、标识标牌、公共交通展示载体等品类，2014年转型为房地产投资信托。
CART vs LAMR — 直观对比
营收规模更大
CART
是对方的1.7倍
$595.9M
营收增速更快
CART
高出9.5%
2.8%
净利率更高
LAMR
高出17.4%
8.2%
自由现金流更多
LAMR
多$37.3M
$171.0M
两年增速更快
CART
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $595.9M |
| 净利润 | $81.0M | $152.3M |
| 毛利率 | 72.3% | 67.7% |
| 营业利润率 | 9.9% | 32.9% |
| 净利率 | 8.2% | 25.6% |
| 营收同比 | 12.3% | 2.8% |
| 净利润同比 | -45.3% | 12801.3% |
| 每股收益（稀释后） | $0.31 | $1.50 |
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CARTLAMR
| Q4 25 | $992.0M | $595.9M | ||
| Q3 25 | $939.0M | $585.5M | ||
| Q2 25 | $914.0M | $579.3M | ||
| Q1 25 | $897.0M | $505.4M | ||
| Q4 24 | $883.0M | $579.6M | ||
| Q3 24 | $852.0M | $564.1M | ||
| Q2 24 | $823.0M | $565.3M | ||
| Q1 24 | $820.0M | $498.1M |
净利润CARTLAMR
| Q4 25 | $81.0M | $152.3M | ||
| Q3 25 | $144.0M | $141.8M | ||
| Q2 25 | $116.0M | $154.4M | ||
| Q1 25 | $106.0M | $138.8M | ||
| Q4 24 | $148.0M | $-1.2M | ||
| Q3 24 | $118.0M | $147.5M | ||
| Q2 24 | $61.0M | $137.4M | ||
| Q1 24 | $130.0M | $78.2M |
毛利率CARTLAMR
| Q4 25 | 72.3% | 67.7% | ||
| Q3 25 | 73.7% | 67.9% | ||
| Q2 25 | 74.2% | 67.8% | ||
| Q1 25 | 74.8% | 64.4% | ||
| Q4 24 | 75.2% | 67.8% | ||
| Q3 24 | 75.2% | 67.6% | ||
| Q2 24 | 75.7% | 67.6% | ||
| Q1 24 | 74.9% | 64.7% |
营业利润率CARTLAMR
| Q4 25 | 9.9% | 32.9% | ||
| Q3 25 | 17.7% | 32.3% | ||
| Q2 25 | 13.6% | 34.1% | ||
| Q1 25 | 12.3% | 37.8% | ||
| Q4 24 | 17.6% | 6.3% | ||
| Q3 24 | 16.2% | 33.1% | ||
| Q2 24 | 6.3% | 32.6% | ||
| Q1 24 | 17.6% | 25.0% |
净利率CARTLAMR
| Q4 25 | 8.2% | 25.6% | ||
| Q3 25 | 15.3% | 24.2% | ||
| Q2 25 | 12.7% | 26.6% | ||
| Q1 25 | 11.8% | 27.5% | ||
| Q4 24 | 16.8% | -0.2% | ||
| Q3 24 | 13.8% | 26.1% | ||
| Q2 24 | 7.4% | 24.3% | ||
| Q1 24 | 15.9% | 15.7% |
每股收益（稀释后）CARTLAMR
| Q4 25 | $0.31 | $1.50 | ||
| Q3 25 | $0.51 | $1.40 | ||
| Q2 25 | $0.41 | $1.52 | ||
| Q1 25 | $0.37 | $1.35 | ||
| Q4 24 | $0.53 | $-0.02 | ||
| Q3 24 | $0.42 | $1.44 | ||
| Q2 24 | $0.20 | $1.34 | ||
| Q1 24 | $0.43 | $0.76 |
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 | $64.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $1.0B |
| 总资产 | $3.7B | $6.9B |
| 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CARTLAMR
| Q4 25 | $687.0M | $64.8M | ||
| Q3 25 | $1.7B | $22.0M | ||
| Q2 25 | $1.6B | $55.7M | ||
| Q1 25 | $1.6B | $36.1M | ||
| Q4 24 | $1.4B | $49.5M | ||
| Q3 24 | $1.3B | $29.5M | ||
| Q2 24 | $1.4B | $77.9M | ||
| Q1 24 | $1.5B | $36.4M |
股东权益CARTLAMR
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $3.5B | $1.0B | ||
| Q2 25 | $3.3B | $906.9M | ||
| Q1 25 | $3.2B | $1.0B | ||
| Q4 24 | $3.1B | $1.0B | ||
| Q3 24 | $2.9B | $1.2B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.1B | $1.2B |
总资产CARTLAMR
| Q4 25 | $3.7B | $6.9B | ||
| Q3 25 | $4.5B | $6.8B | ||
| Q2 25 | $4.4B | $6.7B | ||
| Q1 25 | $4.3B | $6.5B | ||
| Q4 24 | $4.1B | $6.6B | ||
| Q3 24 | $3.9B | $6.5B | ||
| Q2 24 | $4.0B | $6.6B | ||
| Q1 24 | $4.1B | $6.5B |
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 | $271.2M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $208.3M |
| 自由现金流率自由现金流/营收 | 17.2% | 35.0% |
| 资本支出强度资本支出/营收 | 1.2% | 10.5% |
| 现金转化率经营现金流/净利润 | 2.26× | 1.78× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $683.2M |
8季度趋势，按日历期对齐
经营现金流CARTLAMR
| Q4 25 | $183.0M | $271.2M | ||
| Q3 25 | $287.0M | $235.7M | ||
| Q2 25 | $203.0M | $229.5M | ||
| Q1 25 | $298.0M | $127.7M | ||
| Q4 24 | $153.0M | $279.3M | ||
| Q3 24 | $185.0M | $227.4M | ||
| Q2 24 | $244.0M | $256.3M | ||
| Q1 24 | $105.0M | $110.6M |
自由现金流CARTLAMR
| Q4 25 | $171.0M | $208.3M | ||
| Q3 25 | $272.0M | $185.8M | ||
| Q2 25 | $187.0M | $191.3M | ||
| Q1 25 | $280.0M | $97.9M | ||
| Q4 24 | $141.0M | $236.3M | ||
| Q3 24 | $171.0M | $197.3M | ||
| Q2 24 | $220.0M | $233.7M | ||
| Q1 24 | $91.0M | $81.1M |
自由现金流率CARTLAMR
| Q4 25 | 17.2% | 35.0% | ||
| Q3 25 | 29.0% | 31.7% | ||
| Q2 25 | 20.5% | 33.0% | ||
| Q1 25 | 31.2% | 19.4% | ||
| Q4 24 | 16.0% | 40.8% | ||
| Q3 24 | 20.1% | 35.0% | ||
| Q2 24 | 26.7% | 41.3% | ||
| Q1 24 | 11.1% | 16.3% |
资本支出强度CARTLAMR
| Q4 25 | 1.2% | 10.5% | ||
| Q3 25 | 1.6% | 8.5% | ||
| Q2 25 | 1.8% | 6.6% | ||
| Q1 25 | 2.0% | 5.9% | ||
| Q4 24 | 1.4% | 7.4% | ||
| Q3 24 | 1.6% | 5.3% | ||
| Q2 24 | 2.9% | 4.0% | ||
| Q1 24 | 1.7% | 5.9% |
现金转化率CARTLAMR
| Q4 25 | 2.26× | 1.78× | ||
| Q3 25 | 1.99× | 1.66× | ||
| Q2 25 | 1.75× | 1.49× | ||
| Q1 25 | 2.81× | 0.92× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | 1.54× | ||
| Q2 24 | 4.00× | 1.87× | ||
| Q1 24 | 0.81× | 1.41× |
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% |
LAMR
| Reportable Segment Aggregation Before Other Operating Segment | $531.9M | 89% |
| Transit Advertising | $42.0M | 7% |
| Logo Advertising | $22.1M | 4% |
