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Maplebear Inc.（CART）与Life Time Group Holdings, Inc.（LTH）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Life Time Group Holdings, Inc.的1.3倍（$992.0M vs $788.7M），Life Time Group Holdings, Inc.净利率更高（11.2% vs 8.2%，领先3.0%），Maplebear Inc.同比增速更快（12.3% vs 11.7%），Maplebear Inc.自由现金流更多（$171.0M vs $-61.2M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 8.7%）
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。
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
CART vs LTH — 直观对比
营收规模更大
CART
是对方的1.3倍
$788.7M
营收增速更快
CART
高出0.6%
11.7%
净利率更高
LTH
高出3.0%
8.2%
自由现金流更多
CART
多$232.2M
$-61.2M
两年增速更快
CART
近两年复合增速
8.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $788.7M |
| 净利润 | $81.0M | $88.1M |
| 毛利率 | 72.3% | — |
| 营业利润率 | 9.9% | 17.1% |
| 净利率 | 8.2% | 11.2% |
| 营收同比 | 12.3% | 11.7% |
| 净利润同比 | -45.3% | 15.8% |
| 每股收益（稀释后） | $0.31 | $0.39 |
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CARTLTH
| Q1 26 | — | $788.7M | ||
| Q4 25 | $992.0M | $745.1M | ||
| Q3 25 | $939.0M | $782.6M | ||
| Q2 25 | $914.0M | $761.5M | ||
| Q1 25 | $897.0M | $706.0M | ||
| Q4 24 | $883.0M | $663.3M | ||
| Q3 24 | $852.0M | $693.2M | ||
| Q2 24 | $823.0M | $667.8M |
净利润CARTLTH
| Q1 26 | — | $88.1M | ||
| Q4 25 | $81.0M | $123.0M | ||
| Q3 25 | $144.0M | $102.4M | ||
| Q2 25 | $116.0M | $72.1M | ||
| Q1 25 | $106.0M | $76.1M | ||
| Q4 24 | $148.0M | $37.2M | ||
| Q3 24 | $118.0M | $41.4M | ||
| Q2 24 | $61.0M | $52.8M |
毛利率CARTLTH
| Q1 26 | — | — | ||
| Q4 25 | 72.3% | 49.1% | ||
| Q3 25 | 73.7% | 47.1% | ||
| Q2 25 | 74.2% | 47.0% | ||
| Q1 25 | 74.8% | 47.5% | ||
| Q4 24 | 75.2% | 48.2% | ||
| Q3 24 | 75.2% | 46.5% | ||
| Q2 24 | 75.7% | 46.8% |
营业利润率CARTLTH
| Q1 26 | — | 17.1% | ||
| Q4 25 | 9.9% | 17.4% | ||
| Q3 25 | 17.7% | 17.3% | ||
| Q2 25 | 13.6% | 14.2% | ||
| Q1 25 | 12.3% | 15.2% | ||
| Q4 24 | 17.6% | 13.1% | ||
| Q3 24 | 16.2% | 13.5% | ||
| Q2 24 | 6.3% | 15.7% |
净利率CARTLTH
| Q1 26 | — | 11.2% | ||
| Q4 25 | 8.2% | 16.5% | ||
| Q3 25 | 15.3% | 13.1% | ||
| Q2 25 | 12.7% | 9.5% | ||
| Q1 25 | 11.8% | 10.8% | ||
| Q4 24 | 16.8% | 5.6% | ||
| Q3 24 | 13.8% | 6.0% | ||
| Q2 24 | 7.4% | 7.9% |
每股收益（稀释后）CARTLTH
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.31 | $0.55 | ||
| Q3 25 | $0.51 | $0.45 | ||
| Q2 25 | $0.41 | $0.32 | ||
| Q1 25 | $0.37 | $0.34 | ||
| Q4 24 | $0.53 | $0.17 | ||
| Q3 24 | $0.42 | $0.19 | ||
| Q2 24 | $0.20 | $0.26 |
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 | $120.0M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $2.5B | $3.2B |
| 总资产 | $3.7B | $8.1B |
| 负债/权益比越低杠杆越低 | — | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资CARTLTH
| Q1 26 | — | $120.0M | ||
| Q4 25 | $687.0M | $204.8M | ||
| Q3 25 | $1.7B | $218.9M | ||
| Q2 25 | $1.6B | $175.5M | ||
| Q1 25 | $1.6B | $59.0M | ||
| Q4 24 | $1.4B | $10.9M | ||
| Q3 24 | $1.3B | $120.9M | ||
| Q2 24 | $1.4B | $34.5M |
总债务CARTLTH
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.8B |
股东权益CARTLTH
| Q1 26 | — | $3.2B | ||
| Q4 25 | $2.5B | $3.1B | ||
| Q3 25 | $3.5B | $3.0B | ||
| Q2 25 | $3.3B | $2.9B | ||
| Q1 25 | $3.2B | $2.7B | ||
| Q4 24 | $3.1B | $2.6B | ||
| Q3 24 | $2.9B | $2.6B | ||
| Q2 24 | $3.0B | $2.4B |
总资产CARTLTH
| Q1 26 | — | $8.1B | ||
| Q4 25 | $3.7B | $8.0B | ||
| Q3 25 | $4.5B | $7.8B | ||
| Q2 25 | $4.4B | $7.6B | ||
| Q1 25 | $4.3B | $7.3B | ||
| Q4 24 | $4.1B | $7.2B | ||
| Q3 24 | $3.9B | $7.2B | ||
| Q2 24 | $4.0B | $7.1B |
负债/权益比CARTLTH
| Q1 26 | — | 0.46× | ||
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.78× |
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 | $198.8M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $-61.2M |
| 自由现金流率自由现金流/营收 | 17.2% | -7.8% |
| 资本支出强度资本支出/营收 | 1.2% | 26.0% |
| 现金转化率经营现金流/净利润 | 2.26× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $-123.6M |
8季度趋势，按日历期对齐
经营现金流CARTLTH
| Q1 26 | — | $198.8M | ||
| Q4 25 | $183.0M | $239.9M | ||
| Q3 25 | $287.0M | $251.1M | ||
| Q2 25 | $203.0M | $195.7M | ||
| Q1 25 | $298.0M | $183.9M | ||
| Q4 24 | $153.0M | $163.1M | ||
| Q3 24 | $185.0M | $151.1M | ||
| Q2 24 | $244.0M | $170.4M |
自由现金流CARTLTH
| Q1 26 | — | $-61.2M | ||
| Q4 25 | $171.0M | $-64.6M | ||
| Q3 25 | $272.0M | $28.6M | ||
| Q2 25 | $187.0M | $-26.3M | ||
| Q1 25 | $280.0M | $41.4M | ||
| Q4 24 | $141.0M | $26.8M | ||
| Q3 24 | $171.0M | $64.0M | ||
| Q2 24 | $220.0M | $26.1M |
自由现金流率CARTLTH
| Q1 26 | — | -7.8% | ||
| Q4 25 | 17.2% | -8.7% | ||
| Q3 25 | 29.0% | 3.7% | ||
| Q2 25 | 20.5% | -3.5% | ||
| Q1 25 | 31.2% | 5.9% | ||
| Q4 24 | 16.0% | 4.0% | ||
| Q3 24 | 20.1% | 9.2% | ||
| Q2 24 | 26.7% | 3.9% |
资本支出强度CARTLTH
| Q1 26 | — | 26.0% | ||
| Q4 25 | 1.2% | 40.9% | ||
| Q3 25 | 1.6% | 28.4% | ||
| Q2 25 | 1.8% | 29.2% | ||
| Q1 25 | 2.0% | 20.2% | ||
| Q4 24 | 1.4% | 20.6% | ||
| Q3 24 | 1.6% | 12.6% | ||
| Q2 24 | 2.9% | 21.6% |
现金转化率CARTLTH
| Q1 26 | — | 2.26× | ||
| Q4 25 | 2.26× | 1.95× | ||
| Q3 25 | 1.99× | 2.45× | ||
| Q2 25 | 1.75× | 2.71× | ||
| Q1 25 | 2.81× | 2.41× | ||
| Q4 24 | 1.03× | 4.39× | ||
| Q3 24 | 1.57× | 3.65× | ||
| Q2 24 | 4.00× | 3.23× |
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% |
LTH
| Center revenue | $767.6M | 97% |
| Other revenue | $21.1M | 3% |
