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Maplebear Inc.（CART）与TreeHouse Foods, Inc.（THS）财务数据对比。点击上方公司名可切换其他公司
Maplebear Inc.的季度营收约是TreeHouse Foods, Inc.的1.2倍（$992.0M vs $840.3M），Maplebear Inc.净利率更高（8.2% vs -31.6%，领先39.8%），Maplebear Inc.同比增速更快（12.3% vs 0.1%），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs -3.9%）
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。
树屋食品公司是一家跨国食品加工企业，主打贴牌包装食品生产，总部位于美国伊利诺伊州奥克布鲁克，2005年成立后完全通过收购拓展业务。2010年该公司销售额达20亿美元，在20座工厂拥有超4000名员工，曾获评《食品加工》杂志2010年度加工企业，被称为“你没听过的大型企业”。
CART vs THS — 直观对比
营收规模更大
CART
是对方的1.2倍
$840.3M
营收增速更快
CART
高出12.2%
0.1%
净利率更高
CART
高出39.8%
-31.6%
两年增速更快
CART
近两年复合增速
-3.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $840.3M |
| 净利润 | $81.0M | $-265.8M |
| 毛利率 | 72.3% | 18.8% |
| 营业利润率 | 9.9% | -30.2% |
| 净利率 | 8.2% | -31.6% |
| 营收同比 | 12.3% | 0.1% |
| 净利润同比 | -45.3% | -7717.6% |
| 每股收益（稀释后） | $0.31 | $-5.26 |
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CARTTHS
| Q4 25 | $992.0M | — | ||
| Q3 25 | $939.0M | $840.3M | ||
| Q2 25 | $914.0M | $798.0M | ||
| Q1 25 | $897.0M | $792.0M | ||
| Q4 24 | $883.0M | $905.7M | ||
| Q3 24 | $852.0M | $839.1M | ||
| Q2 24 | $823.0M | $788.5M | ||
| Q1 24 | $820.0M | $820.7M |
净利润CARTTHS
| Q4 25 | $81.0M | — | ||
| Q3 25 | $144.0M | $-265.8M | ||
| Q2 25 | $116.0M | $-2.9M | ||
| Q1 25 | $106.0M | $-31.8M | ||
| Q4 24 | $148.0M | $58.7M | ||
| Q3 24 | $118.0M | $-3.4M | ||
| Q2 24 | $61.0M | $-16.7M | ||
| Q1 24 | $130.0M | $-11.7M |
毛利率CARTTHS
| Q4 25 | 72.3% | — | ||
| Q3 25 | 73.7% | 18.8% | ||
| Q2 25 | 74.2% | 17.4% | ||
| Q1 25 | 74.8% | 14.5% | ||
| Q4 24 | 75.2% | 19.5% | ||
| Q3 24 | 75.2% | 15.6% | ||
| Q2 24 | 75.7% | 16.3% | ||
| Q1 24 | 74.9% | 13.6% |
营业利润率CARTTHS
| Q4 25 | 9.9% | — | ||
| Q3 25 | 17.7% | -30.2% | ||
| Q2 25 | 13.6% | 3.4% | ||
| Q1 25 | 12.3% | -0.7% | ||
| Q4 24 | 17.6% | 8.9% | ||
| Q3 24 | 16.2% | 3.8% | ||
| Q2 24 | 6.3% | -0.5% | ||
| Q1 24 | 17.6% | -0.6% |
净利率CARTTHS
| Q4 25 | 8.2% | — | ||
| Q3 25 | 15.3% | -31.6% | ||
| Q2 25 | 12.7% | -0.4% | ||
| Q1 25 | 11.8% | -4.0% | ||
| Q4 24 | 16.8% | 6.5% | ||
| Q3 24 | 13.8% | -0.4% | ||
| Q2 24 | 7.4% | -2.1% | ||
| Q1 24 | 15.9% | -1.4% |
每股收益（稀释后）CARTTHS
| Q4 25 | $0.31 | — | ||
| Q3 25 | $0.51 | $-5.26 | ||
| Q2 25 | $0.41 | $-0.06 | ||
| Q1 25 | $0.37 | $-0.63 | ||
| Q4 24 | $0.53 | $1.12 | ||
| Q3 24 | $0.42 | $-0.07 | ||
| Q2 24 | $0.20 | $-0.32 | ||
| Q1 24 | $0.43 | $-0.22 |
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 | $21.0M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $2.5B | $1.3B |
| 总资产 | $3.7B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资CARTTHS
| Q4 25 | $687.0M | — | ||
| Q3 25 | $1.7B | $21.0M | ||
| Q2 25 | $1.6B | $17.1M | ||
| Q1 25 | $1.6B | $16.4M | ||
| Q4 24 | $1.4B | $289.6M | ||
| Q3 24 | $1.3B | $102.0M | ||
| Q2 24 | $1.4B | $105.8M | ||
| Q1 24 | $1.5B | $191.8M |
总债务CARTTHS
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
股东权益CARTTHS
| Q4 25 | $2.5B | — | ||
| Q3 25 | $3.5B | $1.3B | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $3.2B | $1.5B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $2.9B | $1.6B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $3.1B | $1.6B |
总资产CARTTHS
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.5B | $3.8B | ||
| Q2 25 | $4.4B | $4.0B | ||
| Q1 25 | $4.3B | $3.9B | ||
| Q4 24 | $4.1B | $4.0B | ||
| Q3 24 | $3.9B | $4.0B | ||
| Q2 24 | $4.0B | $3.9B | ||
| Q1 24 | $4.1B | $4.0B |
负债/权益比CARTTHS
| Q4 25 | — | — | ||
| Q3 25 | — | 1.18× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 0.90× | ||
| Q1 24 | — | 0.87× |
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 | $38.2M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | — |
| 自由现金流率自由现金流/营收 | 17.2% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CARTTHS
| Q4 25 | $183.0M | — | ||
| Q3 25 | $287.0M | $38.2M | ||
| Q2 25 | $203.0M | $-47.2M | ||
| Q1 25 | $298.0M | $-53.5M | ||
| Q4 24 | $153.0M | $296.2M | ||
| Q3 24 | $185.0M | $41.4M | ||
| Q2 24 | $244.0M | $-19.4M | ||
| Q1 24 | $105.0M | $-52.4M |
自由现金流CARTTHS
| Q4 25 | $171.0M | — | ||
| Q3 25 | $272.0M | — | ||
| Q2 25 | $187.0M | — | ||
| Q1 25 | $280.0M | — | ||
| Q4 24 | $141.0M | — | ||
| Q3 24 | $171.0M | — | ||
| Q2 24 | $220.0M | $-42.2M | ||
| Q1 24 | $91.0M | $-80.7M |
自由现金流率CARTTHS
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.0% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 16.0% | — | ||
| Q3 24 | 20.1% | — | ||
| Q2 24 | 26.7% | -5.4% | ||
| Q1 24 | 11.1% | -9.8% |
资本支出强度CARTTHS
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.9% | 2.9% | ||
| Q1 24 | 1.7% | 3.4% |
现金转化率CARTTHS
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | 5.05× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — | ||
| 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% |
THS
| Retail Grocery Customers | $670.6M | 80% |
| Food Away From Home And Other | $85.3M | 10% |
| Co Manufacturing | $84.4M | 10% |
