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Maplebear Inc.（CART）与Snap Inc（SNAP）财务数据对比。点击上方公司名可切换其他公司
Snap Inc的季度营收约是Maplebear Inc.的1.5倍（$1.5B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs -5.8%，领先14.0%），Maplebear Inc.同比增速更快（12.3% vs 12.1%），Snap Inc自由现金流更多（$286.0M vs $171.0M），过去两年Snap Inc的营收复合增速更高（11.2% vs 10.0%）
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。
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
CART vs SNAP — 直观对比
营收规模更大
SNAP
是对方的1.5倍
$992.0M
营收增速更快
CART
高出0.2%
12.1%
净利率更高
CART
高出14.0%
-5.8%
自由现金流更多
SNAP
多$115.0M
$171.0M
两年增速更快
SNAP
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.5B |
| 净利润 | $81.0M | $-89.0M |
| 毛利率 | 72.3% | 56.5% |
| 营业利润率 | 9.9% | -4.9% |
| 净利率 | 8.2% | -5.8% |
| 营收同比 | 12.3% | 12.1% |
| 净利润同比 | -45.3% | 36.3% |
| 每股收益（稀释后） | $0.31 | $-0.05 |
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CARTSNAP
| Q1 26 | — | $1.5B | ||
| Q4 25 | $992.0M | $1.7B | ||
| Q3 25 | $939.0M | $1.5B | ||
| Q2 25 | $914.0M | $1.3B | ||
| Q1 25 | $897.0M | $1.4B | ||
| Q4 24 | $883.0M | $1.6B | ||
| Q3 24 | $852.0M | $1.4B | ||
| Q2 24 | $823.0M | $1.2B |
净利润CARTSNAP
| Q1 26 | — | $-89.0M | ||
| Q4 25 | $81.0M | $45.2M | ||
| Q3 25 | $144.0M | $-103.5M | ||
| Q2 25 | $116.0M | $-262.6M | ||
| Q1 25 | $106.0M | $-139.6M | ||
| Q4 24 | $148.0M | $9.1M | ||
| Q3 24 | $118.0M | $-153.2M | ||
| Q2 24 | $61.0M | $-248.6M |
毛利率CARTSNAP
| Q1 26 | — | 56.5% | ||
| Q4 25 | 72.3% | 59.1% | ||
| Q3 25 | 73.7% | 55.3% | ||
| Q2 25 | 74.2% | 51.4% | ||
| Q1 25 | 74.8% | 53.1% | ||
| Q4 24 | 75.2% | 56.9% | ||
| Q3 24 | 75.2% | 53.5% | ||
| Q2 24 | 75.7% | 52.4% |
营业利润率CARTSNAP
| Q1 26 | — | -4.9% | ||
| Q4 25 | 9.9% | 2.9% | ||
| Q3 25 | 17.7% | -8.5% | ||
| Q2 25 | 13.6% | -19.3% | ||
| Q1 25 | 12.3% | -14.2% | ||
| Q4 24 | 17.6% | -1.7% | ||
| Q3 24 | 16.2% | -12.6% | ||
| Q2 24 | 6.3% | -20.5% |
净利率CARTSNAP
| Q1 26 | — | -5.8% | ||
| Q4 25 | 8.2% | 2.6% | ||
| Q3 25 | 15.3% | -6.9% | ||
| Q2 25 | 12.7% | -19.5% | ||
| Q1 25 | 11.8% | -10.2% | ||
| Q4 24 | 16.8% | 0.6% | ||
| Q3 24 | 13.8% | -11.2% | ||
| Q2 24 | 7.4% | -20.1% |
每股收益（稀释后）CARTSNAP
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $0.31 | $0.03 | ||
| Q3 25 | $0.51 | $-0.06 | ||
| Q2 25 | $0.41 | $-0.16 | ||
| Q1 25 | $0.37 | $-0.08 | ||
| Q4 24 | $0.53 | $0.01 | ||
| Q3 24 | $0.42 | $-0.09 | ||
| Q2 24 | $0.20 | $-0.15 |
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 | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $2.1B |
| 总资产 | $3.7B | $7.5B |
| 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CARTSNAP
| Q1 26 | — | $1.1B | ||
| Q4 25 | $687.0M | $2.9B | ||
| Q3 25 | $1.7B | $3.0B | ||
| Q2 25 | $1.6B | $2.9B | ||
| Q1 25 | $1.6B | $3.2B | ||
| Q4 24 | $1.4B | $3.4B | ||
| Q3 24 | $1.3B | $3.2B | ||
| Q2 24 | $1.4B | $3.1B |
总债务CARTSNAP
| Q1 26 | — | — | ||
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.6B |
股东权益CARTSNAP
| Q1 26 | — | $2.1B | ||
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $3.5B | $2.2B | ||
| Q2 25 | $3.3B | $2.1B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $3.1B | $2.5B | ||
| Q3 24 | $2.9B | $2.2B | ||
| Q2 24 | $3.0B | $2.1B |
总资产CARTSNAP
| Q1 26 | — | $7.5B | ||
| Q4 25 | $3.7B | $7.7B | ||
| Q3 25 | $4.5B | $7.6B | ||
| Q2 25 | $4.4B | $7.4B | ||
| Q1 25 | $4.3B | $7.6B | ||
| Q4 24 | $4.1B | $7.9B | ||
| Q3 24 | $3.9B | $7.6B | ||
| Q2 24 | $4.0B | $7.4B |
负债/权益比CARTSNAP
| Q1 26 | — | — | ||
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | 1.65× | ||
| Q2 24 | — | 1.76× |
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 | $326.8M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $286.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 18.7% |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | $910.0M | $608.8M |
8季度趋势，按日历期对齐
经营现金流CARTSNAP
| Q1 26 | — | $326.8M | ||
| Q4 25 | $183.0M | $269.6M | ||
| Q3 25 | $287.0M | $146.5M | ||
| Q2 25 | $203.0M | $88.5M | ||
| Q1 25 | $298.0M | $151.6M | ||
| Q4 24 | $153.0M | $230.6M | ||
| Q3 24 | $185.0M | $115.9M | ||
| Q2 24 | $244.0M | $-21.4M |
自由现金流CARTSNAP
| Q1 26 | — | $286.0M | ||
| Q4 25 | $171.0M | $205.6M | ||
| Q3 25 | $272.0M | $93.4M | ||
| Q2 25 | $187.0M | $23.8M | ||
| Q1 25 | $280.0M | $114.4M | ||
| Q4 24 | $141.0M | $182.4M | ||
| Q3 24 | $171.0M | $71.8M | ||
| Q2 24 | $220.0M | $-73.4M |
自由现金流率CARTSNAP
| Q1 26 | — | 18.7% | ||
| Q4 25 | 17.2% | 12.0% | ||
| Q3 25 | 29.0% | 6.2% | ||
| Q2 25 | 20.5% | 1.8% | ||
| Q1 25 | 31.2% | 8.4% | ||
| Q4 24 | 16.0% | 11.7% | ||
| Q3 24 | 20.1% | 5.2% | ||
| Q2 24 | 26.7% | -5.9% |
资本支出强度CARTSNAP
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 3.7% | ||
| Q3 25 | 1.6% | 3.5% | ||
| Q2 25 | 1.8% | 4.8% | ||
| Q1 25 | 2.0% | 2.7% | ||
| Q4 24 | 1.4% | 3.1% | ||
| Q3 24 | 1.6% | 3.2% | ||
| Q2 24 | 2.9% | 4.2% |
现金转化率CARTSNAP
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 5.96× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | 25.34× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — |
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% |
SNAP
暂无分部数据
