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Maplebear Inc.（CART）与Ubiquiti Inc.（UI）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Ubiquiti Inc.的1.2倍（$992.0M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 8.2%，领先20.5%），Ubiquiti Inc.同比增速更快（35.8% vs 12.3%），Ubiquiti Inc.自由现金流更多（$260.3M vs $171.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
CART vs UI — 直观对比
营收规模更大
CART
是对方的1.2倍
$814.9M
营收增速更快
UI
高出23.5%
12.3%
净利率更高
UI
高出20.5%
8.2%
自由现金流更多
UI
多$89.3M
$171.0M
两年增速更快
UI
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $814.9M |
| 净利润 | $81.0M | $233.6M |
| 毛利率 | 72.3% | 45.9% |
| 营业利润率 | 9.9% | 35.9% |
| 净利率 | 8.2% | 28.7% |
| 营收同比 | 12.3% | 35.8% |
| 净利润同比 | -45.3% | 70.8% |
| 每股收益（稀释后） | $0.31 | $3.86 |
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CARTUI
| Q4 25 | $992.0M | $814.9M | ||
| Q3 25 | $939.0M | $733.8M | ||
| Q2 25 | $914.0M | $759.2M | ||
| Q1 25 | $897.0M | $664.2M | ||
| Q4 24 | $883.0M | $599.9M | ||
| Q3 24 | $852.0M | $550.3M | ||
| Q2 24 | $823.0M | $507.5M | ||
| Q1 24 | $820.0M | $493.0M |
净利润CARTUI
| Q4 25 | $81.0M | $233.6M | ||
| Q3 25 | $144.0M | $207.9M | ||
| Q2 25 | $116.0M | $266.7M | ||
| Q1 25 | $106.0M | $180.4M | ||
| Q4 24 | $148.0M | $136.8M | ||
| Q3 24 | $118.0M | $128.0M | ||
| Q2 24 | $61.0M | $103.8M | ||
| Q1 24 | $130.0M | $76.3M |
毛利率CARTUI
| Q4 25 | 72.3% | 45.9% | ||
| Q3 25 | 73.7% | 46.0% | ||
| Q2 25 | 74.2% | 45.1% | ||
| Q1 25 | 74.8% | 44.5% | ||
| Q4 24 | 75.2% | 41.2% | ||
| Q3 24 | 75.2% | 42.1% | ||
| Q2 24 | 75.7% | 40.2% | ||
| Q1 24 | 74.9% | 35.3% |
营业利润率CARTUI
| Q4 25 | 9.9% | 35.9% | ||
| Q3 25 | 17.7% | 35.7% | ||
| Q2 25 | 13.6% | 34.4% | ||
| Q1 25 | 12.3% | 34.2% | ||
| Q4 24 | 17.6% | 29.8% | ||
| Q3 24 | 16.2% | 30.7% | ||
| Q2 24 | 6.3% | 27.3% | ||
| Q1 24 | 17.6% | 22.6% |
净利率CARTUI
| Q4 25 | 8.2% | 28.7% | ||
| Q3 25 | 15.3% | 28.3% | ||
| Q2 25 | 12.7% | 35.1% | ||
| Q1 25 | 11.8% | 27.2% | ||
| Q4 24 | 16.8% | 22.8% | ||
| Q3 24 | 13.8% | 23.3% | ||
| Q2 24 | 7.4% | 20.5% | ||
| Q1 24 | 15.9% | 15.5% |
每股收益（稀释后）CARTUI
| Q4 25 | $0.31 | $3.86 | ||
| Q3 25 | $0.51 | $3.43 | ||
| Q2 25 | $0.41 | $4.40 | ||
| Q1 25 | $0.37 | $2.98 | ||
| Q4 24 | $0.53 | $2.26 | ||
| Q3 24 | $0.42 | $2.12 | ||
| Q2 24 | $0.20 | $1.72 | ||
| Q1 24 | $0.43 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $2.5B | $1.0B |
| 总资产 | $3.7B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资CARTUI
| Q4 25 | $687.0M | $302.8M | ||
| Q3 25 | $1.7B | $177.2M | ||
| Q2 25 | $1.6B | $149.7M | ||
| Q1 25 | $1.6B | $151.0M | ||
| Q4 24 | $1.4B | $133.1M | ||
| Q3 24 | $1.3B | $165.2M | ||
| Q2 24 | $1.4B | $126.3M | ||
| Q1 24 | $1.5B | $102.5M |
总债务CARTUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益CARTUI
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $3.5B | $828.4M | ||
| Q2 25 | $3.3B | $668.3M | ||
| Q1 25 | $3.2B | $436.1M | ||
| Q4 24 | $3.1B | $290.4M | ||
| Q3 24 | $2.9B | $188.1M | ||
| Q2 24 | $3.0B | $95.1M | ||
| Q1 24 | $3.1B | $25.9M |
总资产CARTUI
| Q4 25 | $3.7B | $1.6B | ||
| Q3 25 | $4.5B | $1.5B | ||
| Q2 25 | $4.4B | $1.5B | ||
| Q1 25 | $4.3B | $1.3B | ||
| Q4 24 | $4.1B | $1.2B | ||
| Q3 24 | $3.9B | $1.2B | ||
| Q2 24 | $4.0B | $1.2B | ||
| Q1 24 | $4.1B | $1.2B |
负债/权益比CARTUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $260.3M |
| 自由现金流率自由现金流/营收 | 17.2% | 31.9% |
| 资本支出强度资本支出/营收 | 1.2% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.26× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $699.5M |
8季度趋势，按日历期对齐
经营现金流CARTUI
| Q4 25 | $183.0M | $263.9M | ||
| Q3 25 | $287.0M | $198.5M | ||
| Q2 25 | $203.0M | $130.4M | ||
| Q1 25 | $298.0M | $123.6M | ||
| Q4 24 | $153.0M | $152.4M | ||
| Q3 24 | $185.0M | $233.7M | ||
| Q2 24 | $244.0M | $231.4M | ||
| Q1 24 | $105.0M | $163.9M |
自由现金流CARTUI
| Q4 25 | $171.0M | $260.3M | ||
| Q3 25 | $272.0M | $193.3M | ||
| Q2 25 | $187.0M | $125.2M | ||
| Q1 25 | $280.0M | $120.7M | ||
| Q4 24 | $141.0M | $150.4M | ||
| Q3 24 | $171.0M | $231.1M | ||
| Q2 24 | $220.0M | $229.5M | ||
| Q1 24 | $91.0M | $160.6M |
自由现金流率CARTUI
| Q4 25 | 17.2% | 31.9% | ||
| Q3 25 | 29.0% | 26.3% | ||
| Q2 25 | 20.5% | 16.5% | ||
| Q1 25 | 31.2% | 18.2% | ||
| Q4 24 | 16.0% | 25.1% | ||
| Q3 24 | 20.1% | 42.0% | ||
| Q2 24 | 26.7% | 45.2% | ||
| Q1 24 | 11.1% | 32.6% |
资本支出强度CARTUI
| Q4 25 | 1.2% | 0.4% | ||
| Q3 25 | 1.6% | 0.7% | ||
| Q2 25 | 1.8% | 0.7% | ||
| Q1 25 | 2.0% | 0.4% | ||
| Q4 24 | 1.4% | 0.3% | ||
| Q3 24 | 1.6% | 0.5% | ||
| Q2 24 | 2.9% | 0.4% | ||
| Q1 24 | 1.7% | 0.7% |
现金转化率CARTUI
| Q4 25 | 2.26× | 1.13× | ||
| Q3 25 | 1.99× | 0.95× | ||
| Q2 25 | 1.75× | 0.49× | ||
| Q1 25 | 2.81× | 0.68× | ||
| Q4 24 | 1.03× | 1.11× | ||
| Q3 24 | 1.57× | 1.83× | ||
| Q2 24 | 4.00× | 2.23× | ||
| Q1 24 | 0.81× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
