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Maplebear Inc.（CART）与MAXIMUS, INC.（MMS）财务数据对比。点击上方公司名可切换其他公司
MAXIMUS, INC.的季度营收约是Maplebear Inc.的1.4倍（$1.3B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs 7.0%，领先1.2%），Maplebear Inc.同比增速更快（12.3% vs -4.1%），Maplebear Inc.自由现金流更多（$171.0M vs $-250.7M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -0.1%）
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。
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
CART vs MMS — 直观对比
营收规模更大
MMS
是对方的1.4倍
$992.0M
营收增速更快
CART
高出16.5%
-4.1%
净利率更高
CART
高出1.2%
7.0%
自由现金流更多
CART
多$421.7M
$-250.7M
两年增速更快
CART
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.3B |
| 净利润 | $81.0M | $93.9M |
| 毛利率 | 72.3% | 23.7% |
| 营业利润率 | 9.9% | 10.9% |
| 净利率 | 8.2% | 7.0% |
| 营收同比 | 12.3% | -4.1% |
| 净利润同比 | -45.3% | 128.0% |
| 每股收益（稀释后） | $0.31 | $1.70 |
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CARTMMS
| Q4 25 | $992.0M | $1.3B | ||
| Q3 25 | $939.0M | $1.3B | ||
| Q2 25 | $914.0M | $1.3B | ||
| Q1 25 | $897.0M | $1.4B | ||
| Q4 24 | $883.0M | $1.4B | ||
| Q3 24 | $852.0M | $1.3B | ||
| Q2 24 | $823.0M | $1.3B | ||
| Q1 24 | $820.0M | $1.3B |
净利润CARTMMS
| Q4 25 | $81.0M | $93.9M | ||
| Q3 25 | $144.0M | $75.3M | ||
| Q2 25 | $116.0M | $106.0M | ||
| Q1 25 | $106.0M | $96.6M | ||
| Q4 24 | $148.0M | $41.2M | ||
| Q3 24 | $118.0M | $72.5M | ||
| Q2 24 | $61.0M | $89.8M | ||
| Q1 24 | $130.0M | $80.5M |
毛利率CARTMMS
| Q4 25 | 72.3% | 23.7% | ||
| Q3 25 | 73.7% | 25.3% | ||
| Q2 25 | 74.2% | 26.7% | ||
| Q1 25 | 74.8% | 24.9% | ||
| Q4 24 | 75.2% | 21.5% | ||
| Q3 24 | 75.2% | 22.9% | ||
| Q2 24 | 75.7% | 25.3% | ||
| Q1 24 | 74.9% | 23.6% |
营业利润率CARTMMS
| Q4 25 | 9.9% | 10.9% | ||
| Q3 25 | 17.7% | 9.3% | ||
| Q2 25 | 13.6% | 12.3% | ||
| Q1 25 | 12.3% | 11.2% | ||
| Q4 24 | 17.6% | 6.2% | ||
| Q3 24 | 16.2% | 8.5% | ||
| Q2 24 | 6.3% | 10.8% | ||
| Q1 24 | 17.6% | 9.5% |
净利率CARTMMS
| Q4 25 | 8.2% | 7.0% | ||
| Q3 25 | 15.3% | 5.7% | ||
| Q2 25 | 12.7% | 7.9% | ||
| Q1 25 | 11.8% | 7.1% | ||
| Q4 24 | 16.8% | 2.9% | ||
| Q3 24 | 13.8% | 5.5% | ||
| Q2 24 | 7.4% | 6.8% | ||
| Q1 24 | 15.9% | 6.0% |
每股收益（稀释后）CARTMMS
| Q4 25 | $0.31 | $1.70 | ||
| Q3 25 | $0.51 | $1.27 | ||
| Q2 25 | $0.41 | $1.86 | ||
| Q1 25 | $0.37 | $1.69 | ||
| Q4 24 | $0.53 | $0.69 | ||
| Q3 24 | $0.42 | $1.18 | ||
| Q2 24 | $0.20 | $1.46 | ||
| Q1 24 | $0.43 | $1.31 |
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 | $137.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $1.7B |
| 总资产 | $3.7B | $4.2B |
| 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CARTMMS
| Q4 25 | $687.0M | $137.6M | ||
| Q3 25 | $1.7B | $222.4M | ||
| Q2 25 | $1.6B | $59.8M | ||
| Q1 25 | $1.6B | $108.1M | ||
| Q4 24 | $1.4B | $72.7M | ||
| Q3 24 | $1.3B | $183.1M | ||
| Q2 24 | $1.4B | $102.8M | ||
| Q1 24 | $1.5B | $77.4M |
股东权益CARTMMS
| Q4 25 | $2.5B | $1.7B | ||
| Q3 25 | $3.5B | $1.7B | ||
| Q2 25 | $3.3B | $1.8B | ||
| Q1 25 | $3.2B | $1.7B | ||
| Q4 24 | $3.1B | $1.6B | ||
| Q3 24 | $2.9B | $1.8B | ||
| Q2 24 | $3.0B | $1.8B | ||
| Q1 24 | $3.1B | $1.8B |
总资产CARTMMS
| Q4 25 | $3.7B | $4.2B | ||
| Q3 25 | $4.5B | $4.1B | ||
| Q2 25 | $4.4B | $4.5B | ||
| Q1 25 | $4.3B | $4.2B | ||
| Q4 24 | $4.1B | $4.1B | ||
| Q3 24 | $3.9B | $4.1B | ||
| Q2 24 | $4.0B | $4.0B | ||
| Q1 24 | $4.1B | $4.0B |
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 | $-244.4M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $-250.7M |
| 自由现金流率自由现金流/营收 | 17.2% | -18.6% |
| 资本支出强度资本支出/营收 | 1.2% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.26× | -2.60× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $218.5M |
8季度趋势，按日历期对齐
经营现金流CARTMMS
| Q4 25 | $183.0M | $-244.4M | ||
| Q3 25 | $287.0M | $649.4M | ||
| Q2 25 | $203.0M | $-182.7M | ||
| Q1 25 | $298.0M | $42.7M | ||
| Q4 24 | $153.0M | $-80.0M | ||
| Q3 24 | $185.0M | $163.8M | ||
| Q2 24 | $244.0M | $199.3M | ||
| Q1 24 | $105.0M | $130.5M |
自由现金流CARTMMS
| Q4 25 | $171.0M | $-250.7M | ||
| Q3 25 | $272.0M | $641.8M | ||
| Q2 25 | $187.0M | $-198.2M | ||
| Q1 25 | $280.0M | $25.5M | ||
| Q4 24 | $141.0M | $-103.0M | ||
| Q3 24 | $171.0M | $131.9M | ||
| Q2 24 | $220.0M | $164.6M | ||
| Q1 24 | $91.0M | $105.2M |
自由现金流率CARTMMS
| Q4 25 | 17.2% | -18.6% | ||
| Q3 25 | 29.0% | 48.7% | ||
| Q2 25 | 20.5% | -14.7% | ||
| Q1 25 | 31.2% | 1.9% | ||
| Q4 24 | 16.0% | -7.3% | ||
| Q3 24 | 20.1% | 10.0% | ||
| Q2 24 | 26.7% | 12.5% | ||
| Q1 24 | 11.1% | 7.8% |
资本支出强度CARTMMS
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 1.8% | 1.1% | ||
| Q1 25 | 2.0% | 1.3% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.6% | 2.4% | ||
| Q2 24 | 2.9% | 2.6% | ||
| Q1 24 | 1.7% | 1.9% |
现金转化率CARTMMS
| Q4 25 | 2.26× | -2.60× | ||
| Q3 25 | 1.99× | 8.63× | ||
| Q2 25 | 1.75× | -1.72× | ||
| Q1 25 | 2.81× | 0.44× | ||
| Q4 24 | 1.03× | -1.94× | ||
| Q3 24 | 1.57× | 2.26× | ||
| Q2 24 | 4.00× | 2.22× | ||
| Q1 24 | 0.81× | 1.62× |
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% |
MMS
| Clinical Services | $523.7M | 39% |
| Cost Plus Contracts | $386.4M | 29% |
| Outside The United States | $143.2M | 11% |
| International Government Agencies | $141.0M | 10% |
| Technology Solutions | $74.8M | 6% |
| Employment And Other | $70.2M | 5% |
| Other Including Local Municipalities And Commercial Customers | $17.6M | 1% |
