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Maplebear Inc.（CART）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.4倍（$992.0M vs $693.4M），ADVANCED DRAINAGE SYSTEMS, INC.净利率更高（13.5% vs 8.2%，领先5.3%），Maplebear Inc.同比增速更快（12.3% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $171.0M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
CART vs WMS — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $693.4M |
| 净利润 | $81.0M | $93.6M |
| 毛利率 | 72.3% | 37.4% |
| 营业利润率 | 9.9% | 19.7% |
| 净利率 | 8.2% | 13.5% |
| 营收同比 | 12.3% | 0.4% |
| 净利润同比 | -45.3% | 15.3% |
| 每股收益（稀释后） | $0.31 | $1.19 |
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
| Q4 25 | $992.0M | $693.4M | ||
| Q3 25 | $939.0M | $850.4M | ||
| Q2 25 | $914.0M | $829.9M | ||
| Q1 25 | $897.0M | $615.8M | ||
| Q4 24 | $883.0M | $690.5M | ||
| Q3 24 | $852.0M | $782.6M | ||
| Q2 24 | $823.0M | $815.3M | ||
| Q1 24 | $820.0M | $653.8M |
| Q4 25 | $81.0M | $93.6M | ||
| Q3 25 | $144.0M | $156.0M | ||
| Q2 25 | $116.0M | $143.9M | ||
| Q1 25 | $106.0M | $77.2M | ||
| Q4 24 | $148.0M | $81.2M | ||
| Q3 24 | $118.0M | $130.4M | ||
| Q2 24 | $61.0M | $161.4M | ||
| Q1 24 | $130.0M | $94.8M |
| Q4 25 | 72.3% | 37.4% | ||
| Q3 25 | 73.7% | 40.0% | ||
| Q2 25 | 74.2% | 39.8% | ||
| Q1 25 | 74.8% | 36.7% | ||
| Q4 24 | 75.2% | 35.0% | ||
| Q3 24 | 75.2% | 37.6% | ||
| Q2 24 | 75.7% | 40.8% | ||
| Q1 24 | 74.9% | 38.5% |
| Q4 25 | 9.9% | 19.7% | ||
| Q3 25 | 17.7% | 26.3% | ||
| Q2 25 | 13.6% | 24.8% | ||
| Q1 25 | 12.3% | 19.0% | ||
| Q4 24 | 17.6% | 18.4% | ||
| Q3 24 | 16.2% | 23.9% | ||
| Q2 24 | 6.3% | 27.7% | ||
| Q1 24 | 17.6% | 20.7% |
| Q4 25 | 8.2% | 13.5% | ||
| Q3 25 | 15.3% | 18.3% | ||
| Q2 25 | 12.7% | 17.3% | ||
| Q1 25 | 11.8% | 12.5% | ||
| Q4 24 | 16.8% | 11.8% | ||
| Q3 24 | 13.8% | 16.7% | ||
| Q2 24 | 7.4% | 19.8% | ||
| Q1 24 | 15.9% | 14.5% |
| Q4 25 | $0.31 | $1.19 | ||
| Q3 25 | $0.51 | $1.99 | ||
| Q2 25 | $0.41 | $1.84 | ||
| Q1 25 | $0.37 | $0.99 | ||
| Q4 24 | $0.53 | $1.04 | ||
| Q3 24 | $0.42 | $1.67 | ||
| Q2 24 | $0.20 | $2.06 | ||
| Q1 24 | $0.43 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $1.9B |
| 总资产 | $3.7B | $4.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $687.0M | $1.0B | ||
| Q3 25 | $1.7B | $812.9M | ||
| Q2 25 | $1.6B | $638.3M | ||
| Q1 25 | $1.6B | $463.3M | ||
| Q4 24 | $1.4B | $488.9M | ||
| Q3 24 | $1.3B | $613.0M | ||
| Q2 24 | $1.4B | $541.6M | ||
| Q1 24 | $1.5B | $490.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $2.5B | $1.9B | ||
| Q3 25 | $3.5B | $1.8B | ||
| Q2 25 | $3.3B | $1.7B | ||
| Q1 25 | $3.2B | $1.5B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $3.0B | $1.3B | ||
| Q1 24 | $3.1B | $1.2B |
| Q4 25 | $3.7B | $4.1B | ||
| Q3 25 | $4.5B | $4.1B | ||
| Q2 25 | $4.4B | $3.9B | ||
| Q1 25 | $4.3B | $3.7B | ||
| Q4 24 | $4.1B | $3.6B | ||
| Q3 24 | $3.9B | $3.5B | ||
| Q2 24 | $4.0B | $3.4B | ||
| Q1 24 | $4.1B | $3.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $183.6M |
| 自由现金流率自由现金流/营收 | 17.2% | 26.5% |
| 资本支出强度资本支出/营收 | 1.2% | 12.4% |
| 现金转化率经营现金流/净利润 | 2.26× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $910.0M | $577.1M |
8季度趋势，按日历期对齐
| Q4 25 | $183.0M | $269.3M | ||
| Q3 25 | $287.0M | $234.9M | ||
| Q2 25 | $203.0M | $275.0M | ||
| Q1 25 | $298.0M | $41.2M | ||
| Q4 24 | $153.0M | $189.9M | ||
| Q3 24 | $185.0M | $166.9M | ||
| Q2 24 | $244.0M | $183.4M | ||
| Q1 24 | $105.0M | $17.7M |
| Q4 25 | $171.0M | $183.6M | ||
| Q3 25 | $272.0M | $176.4M | ||
| Q2 25 | $187.0M | $222.4M | ||
| Q1 25 | $280.0M | $-5.3M | ||
| Q4 24 | $141.0M | $135.7M | ||
| Q3 24 | $171.0M | $112.4M | ||
| Q2 24 | $220.0M | $125.7M | ||
| Q1 24 | $91.0M | $-29.8M |
| Q4 25 | 17.2% | 26.5% | ||
| Q3 25 | 29.0% | 20.7% | ||
| Q2 25 | 20.5% | 26.8% | ||
| Q1 25 | 31.2% | -0.9% | ||
| Q4 24 | 16.0% | 19.7% | ||
| Q3 24 | 20.1% | 14.4% | ||
| Q2 24 | 26.7% | 15.4% | ||
| Q1 24 | 11.1% | -4.6% |
| Q4 25 | 1.2% | 12.4% | ||
| Q3 25 | 1.6% | 6.9% | ||
| Q2 25 | 1.8% | 6.3% | ||
| Q1 25 | 2.0% | 7.6% | ||
| Q4 24 | 1.4% | 7.9% | ||
| Q3 24 | 1.6% | 7.0% | ||
| Q2 24 | 2.9% | 7.1% | ||
| Q1 24 | 1.7% | 7.3% |
| Q4 25 | 2.26× | 2.88× | ||
| Q3 25 | 1.99× | 1.51× | ||
| Q2 25 | 1.75× | 1.91× | ||
| Q1 25 | 2.81× | 0.53× | ||
| Q4 24 | 1.03× | 2.34× | ||
| Q3 24 | 1.57× | 1.28× | ||
| Q2 24 | 4.00× | 1.14× | ||
| Q1 24 | 0.81× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
