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Maplebear Inc.（CART）与NetApp（NTAP）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是Maplebear Inc.的1.7倍（$1.7B vs $992.0M），NetApp净利率更高（19.5% vs 8.2%，领先11.3%），Maplebear Inc.同比增速更快（12.3% vs 4.4%），NetApp自由现金流更多（$271.0M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 1.3%）
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。
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
CART vs NTAP — 直观对比
营收规模更大
NTAP
是对方的1.7倍
$992.0M
营收增速更快
CART
高出8.0%
4.4%
净利率更高
NTAP
高出11.3%
8.2%
自由现金流更多
NTAP
多$100.0M
$171.0M
两年增速更快
CART
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.7B |
| 净利润 | $81.0M | $334.0M |
| 毛利率 | 72.3% | 70.6% |
| 营业利润率 | 9.9% | 25.3% |
| 净利率 | 8.2% | 19.5% |
| 营收同比 | 12.3% | 4.4% |
| 净利润同比 | -45.3% | 11.7% |
| 每股收益（稀释后） | $0.31 | $1.67 |
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CARTNTAP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $992.0M | $1.7B | ||
| Q3 25 | $939.0M | $1.6B | ||
| Q2 25 | $914.0M | $1.7B | ||
| Q1 25 | $897.0M | $1.6B | ||
| Q4 24 | $883.0M | $1.7B | ||
| Q3 24 | $852.0M | $1.5B | ||
| Q2 24 | $823.0M | $1.7B |
净利润CARTNTAP
| Q1 26 | — | $334.0M | ||
| Q4 25 | $81.0M | $305.0M | ||
| Q3 25 | $144.0M | $233.0M | ||
| Q2 25 | $116.0M | $340.0M | ||
| Q1 25 | $106.0M | $299.0M | ||
| Q4 24 | $148.0M | $299.0M | ||
| Q3 24 | $118.0M | $248.0M | ||
| Q2 24 | $61.0M | $291.0M |
毛利率CARTNTAP
| Q1 26 | — | 70.6% | ||
| Q4 25 | 72.3% | 72.0% | ||
| Q3 25 | 73.7% | 70.4% | ||
| Q2 25 | 74.2% | 68.9% | ||
| Q1 25 | 74.8% | 69.8% | ||
| Q4 24 | 75.2% | 71.0% | ||
| Q3 24 | 75.2% | 71.3% | ||
| Q2 24 | 75.7% | 70.5% |
营业利润率CARTNTAP
| Q1 26 | — | 25.3% | ||
| Q4 25 | 9.9% | 23.4% | ||
| Q3 25 | 17.7% | 19.8% | ||
| Q2 25 | 13.6% | 20.1% | ||
| Q1 25 | 12.3% | 22.1% | ||
| Q4 24 | 17.6% | 20.8% | ||
| Q3 24 | 16.2% | 18.3% | ||
| Q2 24 | 6.3% | 21.9% |
净利率CARTNTAP
| Q1 26 | — | 19.5% | ||
| Q4 25 | 8.2% | 17.9% | ||
| Q3 25 | 15.3% | 14.9% | ||
| Q2 25 | 12.7% | 19.6% | ||
| Q1 25 | 11.8% | 18.2% | ||
| Q4 24 | 16.8% | 18.0% | ||
| Q3 24 | 13.8% | 16.1% | ||
| Q2 24 | 7.4% | 17.4% |
每股收益（稀释后）CARTNTAP
| Q1 26 | — | $1.67 | ||
| Q4 25 | $0.31 | $1.51 | ||
| Q3 25 | $0.51 | $1.15 | ||
| Q2 25 | $0.41 | $1.64 | ||
| Q1 25 | $0.37 | $1.44 | ||
| Q4 24 | $0.53 | $1.42 | ||
| Q3 24 | $0.42 | $1.17 | ||
| Q2 24 | $0.20 | $1.36 |
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 | $3.0B |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $2.5B | $1.2B |
| 总资产 | $3.7B | $10.0B |
| 负债/权益比越低杠杆越低 | — | 2.15× |
8季度趋势，按日历期对齐
现金及短期投资CARTNTAP
| Q1 26 | — | $3.0B | ||
| Q4 25 | $687.0M | $3.0B | ||
| Q3 25 | $1.7B | $3.3B | ||
| Q2 25 | $1.6B | $3.8B | ||
| Q1 25 | $1.6B | $2.3B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.3B | $3.0B | ||
| Q2 24 | $1.4B | $3.3B |
总债务CARTNTAP
| Q1 26 | — | $2.5B | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
股东权益CARTNTAP
| Q1 26 | — | $1.2B | ||
| Q4 25 | $2.5B | $986.0M | ||
| Q3 25 | $3.5B | $975.0M | ||
| Q2 25 | $3.3B | $1.0B | ||
| Q1 25 | $3.2B | $995.0M | ||
| Q4 24 | $3.1B | $892.0M | ||
| Q3 24 | $2.9B | $929.0M | ||
| Q2 24 | $3.0B | $1.1B |
总资产CARTNTAP
| Q1 26 | — | $10.0B | ||
| Q4 25 | $3.7B | $9.6B | ||
| Q3 25 | $4.5B | $9.7B | ||
| Q2 25 | $4.4B | $10.8B | ||
| Q1 25 | $4.3B | $9.0B | ||
| Q4 24 | $4.1B | $9.0B | ||
| Q3 24 | $3.9B | $9.3B | ||
| Q2 24 | $4.0B | $9.9B |
负债/权益比CARTNTAP
| Q1 26 | — | 2.15× | ||
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | — | 3.11× | ||
| Q1 25 | — | 2.00× | ||
| Q4 24 | — | 2.23× | ||
| Q3 24 | — | 2.58× | ||
| Q2 24 | — | 2.09× |
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 | $317.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $271.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 15.8% |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 2.26× | 0.95× |
| 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CARTNTAP
| Q1 26 | — | $317.0M | ||
| Q4 25 | $183.0M | $127.0M | ||
| Q3 25 | $287.0M | $673.0M | ||
| Q2 25 | $203.0M | — | ||
| Q1 25 | $298.0M | $385.0M | ||
| Q4 24 | $153.0M | — | ||
| Q3 24 | $185.0M | $341.0M | ||
| Q2 24 | $244.0M | $613.0M |
自由现金流CARTNTAP
| Q1 26 | — | $271.0M | ||
| Q4 25 | $171.0M | $78.0M | ||
| Q3 25 | $272.0M | $620.0M | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | $338.0M | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | $300.0M | ||
| Q2 24 | $220.0M | $567.0M |
自由现金流率CARTNTAP
| Q1 26 | — | 15.8% | ||
| Q4 25 | 17.2% | 4.6% | ||
| Q3 25 | 29.0% | 39.8% | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | 20.6% | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | 19.5% | ||
| Q2 24 | 26.7% | 34.0% |
资本支出强度CARTNTAP
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 2.9% | ||
| Q3 25 | 1.6% | 3.4% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | 2.9% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | 2.7% | ||
| Q2 24 | 2.9% | 2.8% |
现金转化率CARTNTAP
| Q1 26 | — | 0.95× | ||
| Q4 25 | 2.26× | 0.42× | ||
| Q3 25 | 1.99× | 2.89× | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | 1.29× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | 1.38× | ||
| Q2 24 | 4.00× | 2.11× |
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% |
NTAP
| Services | $927.0M | 54% |
| Product | $786.0M | 46% |
