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Maplebear Inc.（CART）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是Maplebear Inc.的1.0倍（$1.0B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs 7.6%，领先0.5%），Maplebear Inc.同比增速更快（12.3% vs 8.6%），思佳讯自由现金流更多（$339.0M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -0.5%）
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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
CART vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.0倍
$992.0M
营收增速更快
CART
高出3.7%
8.6%
净利率更高
CART
高出0.5%
7.6%
自由现金流更多
SWKS
多$168.0M
$171.0M
两年增速更快
CART
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.0B |
| 净利润 | $81.0M | $79.2M |
| 毛利率 | 72.3% | 41.3% |
| 营业利润率 | 9.9% | 10.0% |
| 净利率 | 8.2% | 7.6% |
| 营收同比 | 12.3% | 8.6% |
| 净利润同比 | -45.3% | 15.3% |
| 每股收益（稀释后） | $0.31 | $0.53 |
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CARTSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $992.0M | $1.1B | ||
| Q3 25 | $939.0M | — | ||
| Q2 25 | $914.0M | $965.0M | ||
| Q1 25 | $897.0M | $953.2M | ||
| Q4 24 | $883.0M | $1.1B | ||
| Q3 24 | $852.0M | $1.0B | ||
| Q2 24 | $823.0M | $905.5M |
净利润CARTSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $81.0M | $141.4M | ||
| Q3 25 | $144.0M | — | ||
| Q2 25 | $116.0M | $105.0M | ||
| Q1 25 | $106.0M | $68.7M | ||
| Q4 24 | $148.0M | $162.0M | ||
| Q3 24 | $118.0M | $60.5M | ||
| Q2 24 | $61.0M | $120.9M |
毛利率CARTSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 72.3% | 40.7% | ||
| Q3 25 | 73.7% | — | ||
| Q2 25 | 74.2% | 41.6% | ||
| Q1 25 | 74.8% | 41.1% | ||
| Q4 24 | 75.2% | 41.4% | ||
| Q3 24 | 75.2% | 41.9% | ||
| Q2 24 | 75.7% | 40.2% |
营业利润率CARTSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | 9.9% | 10.1% | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 13.6% | 11.5% | ||
| Q1 25 | 12.3% | 10.2% | ||
| Q4 24 | 17.6% | 16.9% | ||
| Q3 24 | 16.2% | 5.8% | ||
| Q2 24 | 6.3% | 14.4% |
净利率CARTSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | 8.2% | 12.9% | ||
| Q3 25 | 15.3% | — | ||
| Q2 25 | 12.7% | 10.9% | ||
| Q1 25 | 11.8% | 7.2% | ||
| Q4 24 | 16.8% | 15.2% | ||
| Q3 24 | 13.8% | 5.9% | ||
| Q2 24 | 7.4% | 13.4% |
每股收益（稀释后）CARTSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $0.31 | $0.95 | ||
| Q3 25 | $0.51 | — | ||
| Q2 25 | $0.41 | $0.70 | ||
| Q1 25 | $0.37 | $0.43 | ||
| Q4 24 | $0.53 | $1.00 | ||
| Q3 24 | $0.42 | $0.36 | ||
| Q2 24 | $0.20 | $0.75 |
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 | $1.6B |
| 总债务越低越好 | — | $496.6M |
| 股东权益账面价值 | $2.5B | $5.8B |
| 总资产 | $3.7B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资CARTSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $687.0M | $1.4B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.4B | $1.3B |
总债务CARTSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | — | $496.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $496.2M | ||
| Q1 25 | — | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | — | $994.3M | ||
| Q2 24 | — | $994.0M |
股东权益CARTSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $2.5B | $5.8B | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $3.3B | $5.7B | ||
| Q1 25 | $3.2B | $5.9B | ||
| Q4 24 | $3.1B | $6.4B | ||
| Q3 24 | $2.9B | $6.3B | ||
| Q2 24 | $3.0B | $6.3B |
总资产CARTSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $3.7B | $7.9B | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.4B | $7.7B | ||
| Q1 25 | $4.3B | $7.9B | ||
| Q4 24 | $4.1B | $8.3B | ||
| Q3 24 | $3.9B | $8.3B | ||
| Q2 24 | $4.0B | $8.2B |
负债/权益比CARTSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.09× | ||
| Q1 25 | — | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $339.0M |
| 自由现金流率自由现金流/营收 | 17.2% | 32.7% |
| 资本支出强度资本支出/营收 | 1.2% | 5.5% |
| 现金转化率经营现金流/净利润 | 2.26× | 4.99× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $1.1B |
8季度趋势，按日历期对齐
经营现金流CARTSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $183.0M | $200.0M | ||
| Q3 25 | $287.0M | — | ||
| Q2 25 | $203.0M | $314.2M | ||
| Q1 25 | $298.0M | $409.4M | ||
| Q4 24 | $153.0M | $377.2M | ||
| Q3 24 | $185.0M | $476.1M | ||
| Q2 24 | $244.0M | $273.4M |
自由现金流CARTSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $171.0M | $144.0M | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $187.0M | $252.7M | ||
| Q1 25 | $280.0M | $370.9M | ||
| Q4 24 | $141.0M | $338.2M | ||
| Q3 24 | $171.0M | $393.3M | ||
| Q2 24 | $220.0M | $249.0M |
自由现金流率CARTSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | 17.2% | 13.1% | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | 20.5% | 26.2% | ||
| Q1 25 | 31.2% | 38.9% | ||
| Q4 24 | 16.0% | 31.7% | ||
| Q3 24 | 20.1% | 38.4% | ||
| Q2 24 | 26.7% | 27.5% |
资本支出强度CARTSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 1.2% | 5.1% | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | 6.4% | ||
| Q1 25 | 2.0% | 4.0% | ||
| Q4 24 | 1.4% | 3.6% | ||
| Q3 24 | 1.6% | 8.1% | ||
| Q2 24 | 2.9% | 2.7% |
现金转化率CARTSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | 2.26× | 1.41× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | 2.99× | ||
| Q1 25 | 2.81× | 5.96× | ||
| Q4 24 | 1.03× | 2.33× | ||
| Q3 24 | 1.57× | 7.87× | ||
| Q2 24 | 4.00× | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
