vs
Maplebear Inc.（CART）与猫途鹰（TRIP）财务数据对比。点击上方公司名可切换其他公司
Maplebear Inc.的季度营收约是猫途鹰的2.4倍（$992.0M vs $411.0M），Maplebear Inc.净利率更高（8.2% vs -9.2%，领先17.4%），Maplebear Inc.同比增速更快（12.3% vs 0.0%），Maplebear Inc.自由现金流更多（$171.0M vs $-122.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 2.0%）
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。
TripAdvisor是美国知名在线旅游服务企业，旗下运营在线旅行社平台、旅游产品比价网站及移动应用，平台拥有大量用户生成的真实旅行内容，为全球消费者提供出行规划、预订等多元服务。
CART vs TRIP — 直观对比
营收规模更大
CART
是对方的2.4倍
$411.0M
营收增速更快
CART
高出12.3%
0.0%
净利率更高
CART
高出17.4%
-9.2%
自由现金流更多
CART
多$293.0M
$-122.0M
两年增速更快
CART
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $411.0M |
| 净利润 | $81.0M | $-38.0M |
| 毛利率 | 72.3% | 91.5% |
| 营业利润率 | 9.9% | -8.3% |
| 净利率 | 8.2% | -9.2% |
| 营收同比 | 12.3% | 0.0% |
| 净利润同比 | -45.3% | -3900.0% |
| 每股收益（稀释后） | $0.31 | $-0.32 |
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CARTTRIP
| Q4 25 | $992.0M | $411.0M | ||
| Q3 25 | $939.0M | $553.0M | ||
| Q2 25 | $914.0M | $529.0M | ||
| Q1 25 | $897.0M | $398.0M | ||
| Q4 24 | $883.0M | $411.0M | ||
| Q3 24 | $852.0M | $532.0M | ||
| Q2 24 | $823.0M | $497.0M | ||
| Q1 24 | $820.0M | $395.0M |
净利润CARTTRIP
| Q4 25 | $81.0M | $-38.0M | ||
| Q3 25 | $144.0M | $53.0M | ||
| Q2 25 | $116.0M | $36.0M | ||
| Q1 25 | $106.0M | $-11.0M | ||
| Q4 24 | $148.0M | $1.0M | ||
| Q3 24 | $118.0M | $39.0M | ||
| Q2 24 | $61.0M | $24.0M | ||
| Q1 24 | $130.0M | $-59.0M |
毛利率CARTTRIP
| Q4 25 | 72.3% | 91.5% | ||
| Q3 25 | 73.7% | 92.6% | ||
| Q2 25 | 74.2% | 92.1% | ||
| Q1 25 | 74.8% | 93.2% | ||
| Q4 24 | 75.2% | 93.4% | ||
| Q3 24 | 75.2% | 92.5% | ||
| Q2 24 | 75.7% | 92.8% | ||
| Q1 24 | 74.9% | 93.7% |
营业利润率CARTTRIP
| Q4 25 | 9.9% | -8.3% | ||
| Q3 25 | 17.7% | 12.7% | ||
| Q2 25 | 13.6% | 11.2% | ||
| Q1 25 | 12.3% | -3.8% | ||
| Q4 24 | 17.6% | 0.2% | ||
| Q3 24 | 16.2% | 13.2% | ||
| Q2 24 | 6.3% | 7.2% | ||
| Q1 24 | 17.6% | -3.8% |
净利率CARTTRIP
| Q4 25 | 8.2% | -9.2% | ||
| Q3 25 | 15.3% | 9.6% | ||
| Q2 25 | 12.7% | 6.8% | ||
| Q1 25 | 11.8% | -2.8% | ||
| Q4 24 | 16.8% | 0.2% | ||
| Q3 24 | 13.8% | 7.3% | ||
| Q2 24 | 7.4% | 4.8% | ||
| Q1 24 | 15.9% | -14.9% |
每股收益（稀释后）CARTTRIP
| Q4 25 | $0.31 | $-0.32 | ||
| Q3 25 | $0.51 | $0.43 | ||
| Q2 25 | $0.41 | $0.28 | ||
| Q1 25 | $0.37 | $-0.08 | ||
| Q4 24 | $0.53 | $0.03 | ||
| Q3 24 | $0.42 | $0.27 | ||
| Q2 24 | $0.20 | $0.17 | ||
| Q1 24 | $0.43 | $-0.43 |
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 | $1.0B |
| 总债务越低越好 | — | $819.0M |
| 股东权益账面价值 | $2.5B | $645.0M |
| 总资产 | $3.7B | $2.6B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资CARTTRIP
| Q4 25 | $687.0M | $1.0B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
总债务CARTTRIP
| Q4 25 | — | $819.0M | ||
| Q3 25 | — | $821.0M | ||
| Q2 25 | — | $822.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $831.0M | ||
| Q3 24 | — | $832.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CARTTRIP
| Q4 25 | $2.5B | $645.0M | ||
| Q3 25 | $3.5B | $707.0M | ||
| Q2 25 | $3.3B | $627.0M | ||
| Q1 25 | $3.2B | $643.0M | ||
| Q4 24 | $3.1B | $943.0M | ||
| Q3 24 | $2.9B | $944.0M | ||
| Q2 24 | $3.0B | $857.0M | ||
| Q1 24 | $3.1B | $825.0M |
总资产CARTTRIP
| Q4 25 | $3.7B | $2.6B | ||
| Q3 25 | $4.5B | $2.8B | ||
| Q2 25 | $4.4B | $2.9B | ||
| Q1 25 | $4.3B | $2.8B | ||
| Q4 24 | $4.1B | $2.6B | ||
| Q3 24 | $3.9B | $2.7B | ||
| Q2 24 | $4.0B | $2.8B | ||
| Q1 24 | $4.1B | $2.7B |
负债/权益比CARTTRIP
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-103.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $-122.0M |
| 自由现金流率自由现金流/营收 | 17.2% | -29.7% |
| 资本支出强度资本支出/营收 | 1.2% | 4.6% |
| 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 | $163.0M |
8季度趋势，按日历期对齐
经营现金流CARTTRIP
| Q4 25 | $183.0M | $-103.0M | ||
| Q3 25 | $287.0M | $44.0M | ||
| Q2 25 | $203.0M | $202.0M | ||
| Q1 25 | $298.0M | $102.0M | ||
| Q4 24 | $153.0M | $-3.0M | ||
| Q3 24 | $185.0M | $-43.0M | ||
| Q2 24 | $244.0M | $51.0M | ||
| Q1 24 | $105.0M | $139.0M |
自由现金流CARTTRIP
| Q4 25 | $171.0M | $-122.0M | ||
| Q3 25 | $272.0M | $25.0M | ||
| Q2 25 | $187.0M | $177.0M | ||
| Q1 25 | $280.0M | $83.0M | ||
| Q4 24 | $141.0M | $-26.0M | ||
| Q3 24 | $171.0M | $-63.0M | ||
| Q2 24 | $220.0M | $36.0M | ||
| Q1 24 | $91.0M | $123.0M |
自由现金流率CARTTRIP
| Q4 25 | 17.2% | -29.7% | ||
| Q3 25 | 29.0% | 4.5% | ||
| Q2 25 | 20.5% | 33.5% | ||
| Q1 25 | 31.2% | 20.9% | ||
| Q4 24 | 16.0% | -6.3% | ||
| Q3 24 | 20.1% | -11.8% | ||
| Q2 24 | 26.7% | 7.2% | ||
| Q1 24 | 11.1% | 31.1% |
资本支出强度CARTTRIP
| Q4 25 | 1.2% | 4.6% | ||
| Q3 25 | 1.6% | 3.4% | ||
| Q2 25 | 1.8% | 4.7% | ||
| Q1 25 | 2.0% | 4.8% | ||
| Q4 24 | 1.4% | 5.6% | ||
| Q3 24 | 1.6% | 3.8% | ||
| Q2 24 | 2.9% | 3.0% | ||
| Q1 24 | 1.7% | 4.1% |
现金转化率CARTTRIP
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | 0.83× | ||
| Q2 25 | 1.75× | 5.61× | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | -3.00× | ||
| Q3 24 | 1.57× | -1.10× | ||
| Q2 24 | 4.00× | 2.13× | ||
| 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% |
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
