vs
Maplebear Inc.（CART）与诺唯真游轮控股（LINE）财务数据对比。点击上方公司名可切换其他公司
诺唯真游轮控股的季度营收约是Maplebear Inc.的1.4倍（$1.4B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs -7.3%，领先15.4%），Maplebear Inc.同比增速更快（12.3% vs 3.1%），Maplebear Inc.自由现金流更多（$171.0M vs $35.0M）
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。
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
CART vs LINE — 直观对比
营收规模更大
LINE
是对方的1.4倍
$992.0M
营收增速更快
CART
高出9.2%
3.1%
净利率更高
CART
高出15.4%
-7.3%
自由现金流更多
CART
多$136.0M
$35.0M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.4B |
| 净利润 | $81.0M | $-100.0M |
| 毛利率 | 72.3% | 32.3% |
| 营业利润率 | 9.9% | 2.5% |
| 净利率 | 8.2% | -7.3% |
| 营收同比 | 12.3% | 3.1% |
| 净利润同比 | -45.3% | 79.4% |
| 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CARTLINE
| Q4 25 | $992.0M | — | ||
| Q3 25 | $939.0M | $1.4B | ||
| Q2 25 | $914.0M | $1.4B | ||
| Q1 25 | $897.0M | $1.3B | ||
| Q4 24 | $883.0M | $1.3B | ||
| Q3 24 | $852.0M | $1.3B | ||
| Q2 24 | $823.0M | $1.3B | ||
| Q1 24 | $820.0M | $1.3B |
净利润CARTLINE
| Q4 25 | $81.0M | — | ||
| Q3 25 | $144.0M | $-100.0M | ||
| Q2 25 | $116.0M | $-6.0M | ||
| Q1 25 | $106.0M | $0 | ||
| Q4 24 | $148.0M | $-71.0M | ||
| Q3 24 | $118.0M | $-485.0M | ||
| Q2 24 | $61.0M | $-68.0M | ||
| Q1 24 | $130.0M | $-40.0M |
毛利率CARTLINE
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | 32.3% | ||
| Q2 25 | 74.2% | 31.9% | ||
| Q1 25 | 74.8% | 32.2% | ||
| Q4 24 | 75.2% | 32.3% | ||
| Q3 24 | 75.2% | 32.8% | ||
| Q2 24 | 75.7% | 33.4% | ||
| Q1 24 | 74.9% | 33.4% |
营业利润率CARTLINE
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | 2.5% | ||
| Q2 25 | 13.6% | 1.7% | ||
| Q1 25 | 12.3% | 4.3% | ||
| Q4 24 | 17.6% | -1.6% | ||
| Q3 24 | 16.2% | -38.6% | ||
| Q2 24 | 6.3% | 5.5% | ||
| Q1 24 | 17.6% | 7.6% |
净利率CARTLINE
| Q4 25 | 8.2% | — | ||
| Q3 25 | 15.3% | -7.3% | ||
| Q2 25 | 12.7% | -0.4% | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 16.8% | -5.3% | ||
| Q3 24 | 13.8% | -36.3% | ||
| Q2 24 | 7.4% | -5.1% | ||
| Q1 24 | 15.9% | -3.0% |
每股收益（稀释后）CARTLINE
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.51 | $-0.44 | ||
| Q2 25 | $0.41 | $-0.03 | ||
| Q1 25 | $0.37 | $0.01 | ||
| Q4 24 | $0.53 | $-0.52 | ||
| Q3 24 | $0.42 | $-2.44 | ||
| Q2 24 | $0.20 | $-0.46 | ||
| Q1 24 | $0.43 | $-0.28 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $8.4B |
| 总资产 | $3.7B | $19.2B |
| 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CARTLINE
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.4B | $173.0M | ||
| Q3 24 | $1.3B | $409.0M | ||
| Q2 24 | $1.4B | $73.0M | ||
| Q1 24 | $1.5B | — |
股东权益CARTLINE
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.5B | $8.4B | ||
| Q2 25 | $3.3B | $8.6B | ||
| Q1 25 | $3.2B | $8.6B | ||
| Q4 24 | $3.1B | $8.6B | ||
| Q3 24 | $2.9B | $9.0B | ||
| Q2 24 | $3.0B | $4.9B | ||
| Q1 24 | $3.1B | $5.6B |
总资产CARTLINE
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.5B | $19.2B | ||
| Q2 25 | $4.4B | $19.4B | ||
| Q1 25 | $4.3B | $18.8B | ||
| Q4 24 | $4.1B | $18.7B | ||
| Q3 24 | $3.9B | $19.3B | ||
| Q2 24 | $4.0B | $18.8B | ||
| 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 | $230.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $35.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 2.5% |
| 资本支出强度资本支出/营收 | 1.2% | 14.2% |
| 现金转化率经营现金流/净利润 | 2.26× | — |
| 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CARTLINE
| Q4 25 | $183.0M | — | ||
| Q3 25 | $287.0M | $230.0M | ||
| Q2 25 | $203.0M | $258.0M | ||
| Q1 25 | $298.0M | $139.0M | ||
| Q4 24 | $153.0M | — | ||
| Q3 24 | $185.0M | $186.0M | ||
| Q2 24 | $244.0M | $155.0M | ||
| Q1 24 | $105.0M | $105.0M |
自由现金流CARTLINE
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | $35.0M | ||
| Q2 25 | $187.0M | $95.0M | ||
| Q1 25 | $280.0M | $-12.0M | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | $33.0M | ||
| Q2 24 | $220.0M | $-31.0M | ||
| Q1 24 | $91.0M | $-42.0M |
自由现金流率CARTLINE
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | 2.5% | ||
| Q2 25 | 20.5% | 7.0% | ||
| Q1 25 | 31.2% | -0.9% | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | 2.5% | ||
| Q2 24 | 26.7% | -2.3% | ||
| Q1 24 | 11.1% | -3.2% |
资本支出强度CARTLINE
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | 14.2% | ||
| Q2 25 | 1.8% | 12.1% | ||
| Q1 25 | 2.0% | 11.7% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | 11.5% | ||
| Q2 24 | 2.9% | 13.9% | ||
| Q1 24 | 1.7% | 11.1% |
现金转化率CARTLINE
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.81× | — |
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% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
