vs
Maplebear Inc.（CART）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是Maplebear Inc.的1.6倍（$1.6B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs 3.5%，领先4.7%），Maplebear Inc.同比增速更快（12.3% vs -7.5%），Maplebear Inc.自由现金流更多（$171.0M vs $135.6M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 2.2%）
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。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
CART vs PSN — 直观对比
营收规模更大
PSN
是对方的1.6倍
$992.0M
营收增速更快
CART
高出19.9%
-7.5%
净利率更高
CART
高出4.7%
3.5%
自由现金流更多
CART
多$35.4M
$135.6M
两年增速更快
CART
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.6B |
| 净利润 | $81.0M | $55.6M |
| 毛利率 | 72.3% | 23.0% |
| 营业利润率 | 9.9% | 6.6% |
| 净利率 | 8.2% | 3.5% |
| 营收同比 | 12.3% | -7.5% |
| 净利润同比 | -45.3% | -72.4% |
| 每股收益（稀释后） | $0.31 | $0.51 |
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CARTPSN
| Q4 25 | $992.0M | $1.6B | ||
| Q3 25 | $939.0M | $1.6B | ||
| Q2 25 | $914.0M | $1.6B | ||
| Q1 25 | $897.0M | $1.6B | ||
| Q4 24 | $883.0M | $1.7B | ||
| Q3 24 | $852.0M | $1.8B | ||
| Q2 24 | $823.0M | $1.7B | ||
| Q1 24 | $820.0M | $1.5B |
净利润CARTPSN
| Q4 25 | $81.0M | $55.6M | ||
| Q3 25 | $144.0M | $64.1M | ||
| Q2 25 | $116.0M | $55.2M | ||
| Q1 25 | $106.0M | $66.2M | ||
| Q4 24 | $148.0M | $201.3M | ||
| Q3 24 | $118.0M | $72.0M | ||
| Q2 24 | $61.0M | $69.2M | ||
| Q1 24 | $130.0M | $-107.4M |
毛利率CARTPSN
| Q4 25 | 72.3% | 23.0% | ||
| Q3 25 | 73.7% | 22.2% | ||
| Q2 25 | 74.2% | 22.0% | ||
| Q1 25 | 74.8% | 22.8% | ||
| Q4 24 | 75.2% | 21.3% | ||
| Q3 24 | 75.2% | 19.9% | ||
| Q2 24 | 75.7% | 21.0% | ||
| Q1 24 | 74.9% | 21.2% |
营业利润率CARTPSN
| Q4 25 | 9.9% | 6.6% | ||
| Q3 25 | 17.7% | 6.7% | ||
| Q2 25 | 13.6% | 6.0% | ||
| Q1 25 | 12.3% | 7.0% | ||
| Q4 24 | 17.6% | 5.8% | ||
| Q3 24 | 16.2% | 6.4% | ||
| Q2 24 | 6.3% | 6.7% | ||
| Q1 24 | 17.6% | 6.6% |
净利率CARTPSN
| Q4 25 | 8.2% | 3.5% | ||
| Q3 25 | 15.3% | 4.0% | ||
| Q2 25 | 12.7% | 3.5% | ||
| Q1 25 | 11.8% | 4.3% | ||
| Q4 24 | 16.8% | 11.6% | ||
| Q3 24 | 13.8% | 4.0% | ||
| Q2 24 | 7.4% | 4.1% | ||
| Q1 24 | 15.9% | -7.0% |
每股收益（稀释后）CARTPSN
| Q4 25 | $0.31 | $0.51 | ||
| Q3 25 | $0.51 | $0.59 | ||
| Q2 25 | $0.41 | $0.50 | ||
| Q1 25 | $0.37 | $0.60 | ||
| Q4 24 | $0.53 | $1.85 | ||
| Q3 24 | $0.42 | $0.65 | ||
| Q2 24 | $0.20 | $0.63 | ||
| Q1 24 | $0.43 | $-1.01 |
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 | $466.4M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $2.5B | $2.6B |
| 总资产 | $3.7B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资CARTPSN
| Q4 25 | $687.0M | $466.4M | ||
| Q3 25 | $1.7B | $422.6M | ||
| Q2 25 | $1.6B | $411.3M | ||
| Q1 25 | $1.6B | $269.7M | ||
| Q4 24 | $1.4B | $453.5M | ||
| Q3 24 | $1.3B | $558.8M | ||
| Q2 24 | $1.4B | $528.5M | ||
| Q1 24 | $1.5B | $423.1M |
总债务CARTPSN
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $785.2M | ||
| Q4 24 | — | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益CARTPSN
| Q4 25 | $2.5B | $2.6B | ||
| Q3 25 | $3.5B | $2.6B | ||
| Q2 25 | $3.3B | $2.5B | ||
| Q1 25 | $3.2B | $2.5B | ||
| Q4 24 | $3.1B | $2.4B | ||
| Q3 24 | $2.9B | $2.3B | ||
| Q2 24 | $3.0B | $2.2B | ||
| Q1 24 | $3.1B | $2.1B |
总资产CARTPSN
| Q4 25 | $3.7B | $5.8B | ||
| Q3 25 | $4.5B | $5.7B | ||
| Q2 25 | $4.4B | $5.7B | ||
| Q1 25 | $4.3B | $5.4B | ||
| Q4 24 | $4.1B | $5.5B | ||
| Q3 24 | $3.9B | $5.4B | ||
| Q2 24 | $4.0B | $5.2B | ||
| Q1 24 | $4.1B | $5.1B |
负债/权益比CARTPSN
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.49× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $135.6M |
| 自由现金流率自由现金流/营收 | 17.2% | 8.5% |
| 资本支出强度资本支出/营收 | 1.2% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.26× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $410.4M |
8季度趋势，按日历期对齐
经营现金流CARTPSN
| Q4 25 | $183.0M | $167.5M | ||
| Q3 25 | $287.0M | $162.8M | ||
| Q2 25 | $203.0M | $159.8M | ||
| Q1 25 | $298.0M | $-11.8M | ||
| Q4 24 | $153.0M | $126.8M | ||
| Q3 24 | $185.0M | $299.0M | ||
| Q2 24 | $244.0M | $161.2M | ||
| Q1 24 | $105.0M | $-63.4M |
自由现金流CARTPSN
| Q4 25 | $171.0M | $135.6M | ||
| Q3 25 | $272.0M | $149.7M | ||
| Q2 25 | $187.0M | $150.4M | ||
| Q1 25 | $280.0M | $-25.3M | ||
| Q4 24 | $141.0M | $108.0M | ||
| Q3 24 | $171.0M | $287.3M | ||
| Q2 24 | $220.0M | $152.0M | ||
| Q1 24 | $91.0M | $-72.9M |
自由现金流率CARTPSN
| Q4 25 | 17.2% | 8.5% | ||
| Q3 25 | 29.0% | 9.2% | ||
| Q2 25 | 20.5% | 9.5% | ||
| Q1 25 | 31.2% | -1.6% | ||
| Q4 24 | 16.0% | 6.2% | ||
| Q3 24 | 20.1% | 15.9% | ||
| Q2 24 | 26.7% | 9.1% | ||
| Q1 24 | 11.1% | -4.7% |
资本支出强度CARTPSN
| Q4 25 | 1.2% | 2.0% | ||
| Q3 25 | 1.6% | 0.8% | ||
| Q2 25 | 1.8% | 0.6% | ||
| Q1 25 | 2.0% | 0.9% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.6% | 0.6% | ||
| Q2 24 | 2.9% | 0.6% | ||
| Q1 24 | 1.7% | 0.6% |
现金转化率CARTPSN
| Q4 25 | 2.26× | 3.01× | ||
| Q3 25 | 1.99× | 2.54× | ||
| Q2 25 | 1.75× | 2.89× | ||
| Q1 25 | 2.81× | -0.18× | ||
| Q4 24 | 1.03× | 0.63× | ||
| Q3 24 | 1.57× | 4.16× | ||
| Q2 24 | 4.00× | 2.33× | ||
| 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% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
