vs
Maplebear Inc.（CART）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
瑞思迈的季度营收约是Maplebear Inc.的1.4倍（$1.4B vs $992.0M），瑞思迈净利率更高（27.6% vs 8.2%，领先19.4%），Maplebear Inc.同比增速更快（12.3% vs 11.0%），瑞思迈自由现金流更多（$311.2M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 9.0%）
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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
CART vs RMD — 直观对比
营收规模更大
RMD
是对方的1.4倍
$992.0M
营收增速更快
CART
高出1.4%
11.0%
净利率更高
RMD
高出19.4%
8.2%
自由现金流更多
RMD
多$140.2M
$171.0M
两年增速更快
CART
近两年复合增速
9.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.4B |
| 净利润 | $81.0M | $392.6M |
| 毛利率 | 72.3% | 61.8% |
| 营业利润率 | 9.9% | 34.6% |
| 净利率 | 8.2% | 27.6% |
| 营收同比 | 12.3% | 11.0% |
| 净利润同比 | -45.3% | 13.9% |
| 每股收益（稀释后） | $0.31 | $2.68 |
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CARTRMD
| Q4 25 | $992.0M | $1.4B | ||
| Q3 25 | $939.0M | $1.3B | ||
| Q2 25 | $914.0M | $1.3B | ||
| Q1 25 | $897.0M | $1.3B | ||
| Q4 24 | $883.0M | $1.3B | ||
| Q3 24 | $852.0M | $1.2B | ||
| Q2 24 | $823.0M | $1.2B | ||
| Q1 24 | $820.0M | $1.2B |
净利润CARTRMD
| Q4 25 | $81.0M | $392.6M | ||
| Q3 25 | $144.0M | $348.5M | ||
| Q2 25 | $116.0M | $379.7M | ||
| Q1 25 | $106.0M | $365.0M | ||
| Q4 24 | $148.0M | $344.6M | ||
| Q3 24 | $118.0M | $311.4M | ||
| Q2 24 | $61.0M | $292.2M | ||
| Q1 24 | $130.0M | $300.5M |
毛利率CARTRMD
| Q4 25 | 72.3% | 61.8% | ||
| Q3 25 | 73.7% | 61.5% | ||
| Q2 25 | 74.2% | 60.8% | ||
| Q1 25 | 74.8% | 59.3% | ||
| Q4 24 | 75.2% | 58.6% | ||
| Q3 24 | 75.2% | 58.6% | ||
| Q2 24 | 75.7% | 58.5% | ||
| Q1 24 | 74.9% | 57.9% |
营业利润率CARTRMD
| Q4 25 | 9.9% | 34.6% | ||
| Q3 25 | 17.7% | 33.4% | ||
| Q2 25 | 13.6% | 33.7% | ||
| Q1 25 | 12.3% | 33.0% | ||
| Q4 24 | 17.6% | 32.5% | ||
| Q3 24 | 16.2% | 31.6% | ||
| Q2 24 | 6.3% | 31.2% | ||
| Q1 24 | 17.6% | 31.3% |
净利率CARTRMD
| Q4 25 | 8.2% | 27.6% | ||
| Q3 25 | 15.3% | 26.1% | ||
| Q2 25 | 12.7% | 28.2% | ||
| Q1 25 | 11.8% | 28.3% | ||
| Q4 24 | 16.8% | 26.9% | ||
| Q3 24 | 13.8% | 25.4% | ||
| Q2 24 | 7.4% | 23.9% | ||
| Q1 24 | 15.9% | 25.1% |
每股收益（稀释后）CARTRMD
| Q4 25 | $0.31 | $2.68 | ||
| Q3 25 | $0.51 | $2.37 | ||
| Q2 25 | $0.41 | $2.58 | ||
| Q1 25 | $0.37 | $2.48 | ||
| Q4 24 | $0.53 | $2.34 | ||
| Q3 24 | $0.42 | $2.11 | ||
| Q2 24 | $0.20 | $1.97 | ||
| Q1 24 | $0.43 | $2.04 |
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 | $1.4B |
| 总债务越低越好 | — | $403.9M |
| 股东权益账面价值 | $2.5B | $6.3B |
| 总资产 | $3.7B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资CARTRMD
| Q4 25 | $687.0M | $1.4B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.6B | $932.7M | ||
| Q4 24 | $1.4B | $521.9M | ||
| Q3 24 | $1.3B | $426.4M | ||
| Q2 24 | $1.4B | $238.4M | ||
| Q1 24 | $1.5B | $237.9M |
总债务CARTRMD
| Q4 25 | — | $403.9M | ||
| Q3 25 | — | $408.7M | ||
| Q2 25 | — | $658.4M | ||
| Q1 25 | — | $663.1M | ||
| Q4 24 | — | $662.9M | ||
| Q3 24 | — | $667.6M | ||
| Q2 24 | — | $697.3M | ||
| Q1 24 | — | $997.0M |
股东权益CARTRMD
| Q4 25 | $2.5B | $6.3B | ||
| Q3 25 | $3.5B | $6.1B | ||
| Q2 25 | $3.3B | $6.0B | ||
| Q1 25 | $3.2B | $5.5B | ||
| Q4 24 | $3.1B | $5.3B | ||
| Q3 24 | $2.9B | $5.2B | ||
| Q2 24 | $3.0B | $4.9B | ||
| Q1 24 | $3.1B | $4.6B |
总资产CARTRMD
| Q4 25 | $3.7B | $8.5B | ||
| Q3 25 | $4.5B | $8.3B | ||
| Q2 25 | $4.4B | $8.2B | ||
| Q1 25 | $4.3B | $7.6B | ||
| Q4 24 | $4.1B | $7.1B | ||
| Q3 24 | $3.9B | $7.2B | ||
| Q2 24 | $4.0B | $6.9B | ||
| Q1 24 | $4.1B | $6.8B |
负债/权益比CARTRMD
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.12× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.22× |
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 | $339.7M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $311.2M |
| 自由现金流率自由现金流/营收 | 17.2% | 21.9% |
| 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× | 0.87× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $1.8B |
8季度趋势，按日历期对齐
经营现金流CARTRMD
| Q4 25 | $183.0M | $339.7M | ||
| Q3 25 | $287.0M | $457.3M | ||
| Q2 25 | $203.0M | $538.8M | ||
| Q1 25 | $298.0M | $578.7M | ||
| Q4 24 | $153.0M | $308.6M | ||
| Q3 24 | $185.0M | $325.5M | ||
| Q2 24 | $244.0M | $440.1M | ||
| Q1 24 | $105.0M | $402.0M |
自由现金流CARTRMD
| Q4 25 | $171.0M | $311.2M | ||
| Q3 25 | $272.0M | $414.4M | ||
| Q2 25 | $187.0M | $508.2M | ||
| Q1 25 | $280.0M | $557.9M | ||
| Q4 24 | $141.0M | $288.0M | ||
| Q3 24 | $171.0M | $307.7M | ||
| Q2 24 | $220.0M | $415.2M | ||
| Q1 24 | $91.0M | $380.8M |
自由现金流率CARTRMD
| Q4 25 | 17.2% | 21.9% | ||
| Q3 25 | 29.0% | 31.0% | ||
| Q2 25 | 20.5% | 37.7% | ||
| Q1 25 | 31.2% | 43.2% | ||
| Q4 24 | 16.0% | 22.5% | ||
| Q3 24 | 20.1% | 25.1% | ||
| Q2 24 | 26.7% | 33.9% | ||
| Q1 24 | 11.1% | 31.8% |
资本支出强度CARTRMD
| Q4 25 | 1.2% | 2.0% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 1.8% | 2.3% | ||
| Q1 25 | 2.0% | 1.6% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 2.9% | 2.0% | ||
| Q1 24 | 1.7% | 1.8% |
现金转化率CARTRMD
| Q4 25 | 2.26× | 0.87× | ||
| Q3 25 | 1.99× | 1.31× | ||
| Q2 25 | 1.75× | 1.42× | ||
| Q1 25 | 2.81× | 1.59× | ||
| Q4 24 | 1.03× | 0.90× | ||
| Q3 24 | 1.57× | 1.05× | ||
| Q2 24 | 4.00× | 1.51× | ||
| Q1 24 | 0.81× | 1.34× |
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% |
RMD
| Sleep And Breathing Health | $1.3B | 88% |
| Residential Care Software | $166.9M | 12% |
