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Maplebear Inc.（CART）与Martin Marietta Materials（MLM）财务数据对比。点击上方公司名可切换其他公司
Martin Marietta Materials的季度营收约是Maplebear Inc.的1.1倍（$1.1B vs $992.0M），Martin Marietta Materials净利率更高（24.5% vs 8.2%，领先16.3%），Maplebear Inc.同比增速更快（12.3% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
CART vs MLM — 直观对比
营收规模更大
MLM
是对方的1.1倍
$992.0M
营收增速更快
CART
高出42.5%
-30.1%
净利率更高
MLM
高出16.3%
8.2%
自由现金流更多
MLM
多$253.0M
$171.0M
两年增速更快
CART
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.1B |
| 净利润 | $81.0M | $279.0M |
| 毛利率 | 72.3% | 35.0% |
| 营业利润率 | 9.9% | 24.6% |
| 净利率 | 8.2% | 24.5% |
| 营收同比 | 12.3% | -30.1% |
| 净利润同比 | -45.3% | -4.8% |
| 每股收益（稀释后） | $0.31 | $4.59 |
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CARTMLM
| Q4 25 | $992.0M | $1.1B | ||
| Q3 25 | $939.0M | $1.8B | ||
| Q2 25 | $914.0M | $1.8B | ||
| Q1 25 | $897.0M | $1.4B | ||
| Q4 24 | $883.0M | $1.6B | ||
| Q3 24 | $852.0M | $1.9B | ||
| Q2 24 | $823.0M | $1.8B | ||
| Q1 24 | $820.0M | $1.3B |
净利润CARTMLM
| Q4 25 | $81.0M | $279.0M | ||
| Q3 25 | $144.0M | $414.0M | ||
| Q2 25 | $116.0M | $328.0M | ||
| Q1 25 | $106.0M | $116.0M | ||
| Q4 24 | $148.0M | $293.0M | ||
| Q3 24 | $118.0M | $363.0M | ||
| Q2 24 | $61.0M | $294.0M | ||
| Q1 24 | $130.0M | $1.0B |
毛利率CARTMLM
| Q4 25 | 72.3% | 35.0% | ||
| Q3 25 | 73.7% | 33.1% | ||
| Q2 25 | 74.2% | 30.0% | ||
| Q1 25 | 74.8% | 24.8% | ||
| Q4 24 | 75.2% | 30.0% | ||
| Q3 24 | 75.2% | 31.7% | ||
| Q2 24 | 75.7% | 29.3% | ||
| Q1 24 | 74.9% | 21.7% |
营业利润率CARTMLM
| Q4 25 | 9.9% | 24.6% | ||
| Q3 25 | 17.7% | 27.4% | ||
| Q2 25 | 13.6% | 25.3% | ||
| Q1 25 | 12.3% | 14.3% | ||
| Q4 24 | 17.6% | 24.4% | ||
| Q3 24 | 16.2% | 25.9% | ||
| Q2 24 | 6.3% | 22.6% | ||
| Q1 24 | 17.6% | — |
净利率CARTMLM
| Q4 25 | 8.2% | 24.5% | ||
| Q3 25 | 15.3% | 22.4% | ||
| Q2 25 | 12.7% | 18.1% | ||
| Q1 25 | 11.8% | 8.6% | ||
| Q4 24 | 16.8% | 18.0% | ||
| Q3 24 | 13.8% | 19.2% | ||
| Q2 24 | 7.4% | 16.7% | ||
| Q1 24 | 15.9% | 83.5% |
每股收益（稀释后）CARTMLM
| Q4 25 | $0.31 | $4.59 | ||
| Q3 25 | $0.51 | $6.85 | ||
| Q2 25 | $0.41 | $5.43 | ||
| Q1 25 | $0.37 | $1.90 | ||
| Q4 24 | $0.53 | $4.87 | ||
| Q3 24 | $0.42 | $5.91 | ||
| Q2 24 | $0.20 | $4.76 | ||
| Q1 24 | $0.43 | $16.87 |
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 | $67.0M |
| 总债务越低越好 | — | $5.3B |
| 股东权益账面价值 | $2.5B | $10.0B |
| 总资产 | $3.7B | $18.7B |
| 负债/权益比越低杠杆越低 | — | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资CARTMLM
| Q4 25 | $687.0M | $67.0M | ||
| Q3 25 | $1.7B | $57.0M | ||
| Q2 25 | $1.6B | $225.0M | ||
| Q1 25 | $1.6B | $101.0M | ||
| Q4 24 | $1.4B | $670.0M | ||
| Q3 24 | $1.3B | $52.0M | ||
| Q2 24 | $1.4B | $109.0M | ||
| Q1 24 | $1.5B | $2.6B |
总债务CARTMLM
| Q4 25 | — | $5.3B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益CARTMLM
| Q4 25 | $2.5B | $10.0B | ||
| Q3 25 | $3.5B | $9.7B | ||
| Q2 25 | $3.3B | $9.4B | ||
| Q1 25 | $3.2B | $9.1B | ||
| Q4 24 | $3.1B | $9.5B | ||
| Q3 24 | $2.9B | $9.2B | ||
| Q2 24 | $3.0B | $8.8B | ||
| Q1 24 | $3.1B | $8.9B |
总资产CARTMLM
| Q4 25 | $3.7B | $18.7B | ||
| Q3 25 | $4.5B | $18.7B | ||
| Q2 25 | $4.4B | $18.1B | ||
| Q1 25 | $4.3B | $17.7B | ||
| Q4 24 | $4.1B | $18.2B | ||
| Q3 24 | $3.9B | $16.5B | ||
| Q2 24 | $4.0B | $16.3B | ||
| Q1 24 | $4.1B | $16.2B |
负债/权益比CARTMLM
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $424.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 37.2% |
| 资本支出强度资本支出/营收 | 1.2% | 18.0% |
| 现金转化率经营现金流/净利润 | 2.26× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $978.0M |
8季度趋势，按日历期对齐
经营现金流CARTMLM
| Q4 25 | $183.0M | $629.0M | ||
| Q3 25 | $287.0M | $551.0M | ||
| Q2 25 | $203.0M | $387.0M | ||
| Q1 25 | $298.0M | $218.0M | ||
| Q4 24 | $153.0M | $686.0M | ||
| Q3 24 | $185.0M | $600.0M | ||
| Q2 24 | $244.0M | $1.0M | ||
| Q1 24 | $105.0M | $172.0M |
自由现金流CARTMLM
| Q4 25 | $171.0M | $424.0M | ||
| Q3 25 | $272.0M | $361.0M | ||
| Q2 25 | $187.0M | $208.0M | ||
| Q1 25 | $280.0M | $-15.0M | ||
| Q4 24 | $141.0M | $453.0M | ||
| Q3 24 | $171.0M | $317.0M | ||
| Q2 24 | $220.0M | $-138.0M | ||
| Q1 24 | $91.0M | $-28.0M |
自由现金流率CARTMLM
| Q4 25 | 17.2% | 37.2% | ||
| Q3 25 | 29.0% | 19.6% | ||
| Q2 25 | 20.5% | 11.5% | ||
| Q1 25 | 31.2% | -1.1% | ||
| Q4 24 | 16.0% | 27.8% | ||
| Q3 24 | 20.1% | 16.8% | ||
| Q2 24 | 26.7% | -7.8% | ||
| Q1 24 | 11.1% | -2.2% |
资本支出强度CARTMLM
| Q4 25 | 1.2% | 18.0% | ||
| Q3 25 | 1.6% | 10.3% | ||
| Q2 25 | 1.8% | 9.9% | ||
| Q1 25 | 2.0% | 17.2% | ||
| Q4 24 | 1.4% | 14.3% | ||
| Q3 24 | 1.6% | 15.0% | ||
| Q2 24 | 2.9% | 7.9% | ||
| Q1 24 | 1.7% | 16.0% |
现金转化率CARTMLM
| Q4 25 | 2.26× | 2.25× | ||
| Q3 25 | 1.99× | 1.33× | ||
| Q2 25 | 1.75× | 1.18× | ||
| Q1 25 | 2.81× | 1.88× | ||
| Q4 24 | 1.03× | 2.34× | ||
| Q3 24 | 1.57× | 1.65× | ||
| Q2 24 | 4.00× | 0.00× | ||
| Q1 24 | 0.81× | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
