Thursday 15 October 2026
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Maplebear Inc.
CART Consumer Cyclical Internet Retail
Maplebear Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, up 10.8% from fiscal 2024. In the quarter to June 2026, revenue grew 14.1%, EPS grew 6.98% and free cash flow grew 157.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
51.13
1.73
+3.50%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | 23.02 | 22.13 | 34.78 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | — | — | 42.95 | 50.01 | 53.50 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | 3,486 | 3,380 | 3,265 | 3,600 | ||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 0.00 | 0.73 | 0.90 | 1.03 | 1.04 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | 1,477 | 1,834 | 2,551 | 3,042 | 3,378 | 3,742 | ||||
| Gross margin, % | — | — | — | — | 59.51 | 66.85 | 71.78 | 74.88 | 75.25 | 73.70 | |||||
| EBT | — | — | — | — | (70) | (72) | 71 | (2,061) | 552 | 556 | |||||
| EBT margin, % | — | — | — | — | (4.74) | (3.93) | 2.78 | (67.75) | 16.34 | 14.86 | |||||
| Net income | — | — | — | — | (70) | (73) | 428 | (1,622) | 457 | 447 | |||||
| Depreciation | — | — | — | — | 46 | 32 | 47 | 57 | 67 | 99 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 25.50 | 27.84 | 35.50 | 23.29 | 12.76 | 14.32 | ||||
| Earnings | — | — | — | — | (1.21) | (1.11) | 5.96 | (12.43) | 1.69 | 1.68 | |||||
| Cash flow | — | — | — | — | (1.57) | (3.10) | 3.86 | 4.49 | 2.60 | 3.72 | |||||
| Capex | — | — | — | — | (0.12) | (0.33) | (0.36) | (0.43) | (0.24) | (0.23) | |||||
| Free cash flow | — | — | — | — | (1.69) | (3.43) | 3.49 | 4.06 | 2.35 | 3.48 | |||||
| Book value | — | — | — | — | 0.00 | (8.70) | (0.89) | 28.71 | 11.69 | 9.63 | |||||
| Shares, m | — | — | — | — | 58 | 66 | 72 | 131 | 265 | 261 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | 7.89 | 7.89 | 7.89 | 0.00 | 24.36 | 26.77 | ||||
| P/S | — | — | — | — | 0.84 | 0.84 | 0.84 | 1.03 | 3.24 | 3.14 | |||||
| P/B | — | — | — | — | 12.75 | 12.75 | 12.75 | 0.84 | 3.54 | 4.67 | |||||
| EV/Sales | — | — | — | — | 0.14 | 0.14 | 0.14 | 0.27 | 2.79 | 2.91 | |||||
| EV/FCF | — | — | — | — | 0.84 | 0.84 | 0.84 | 1.53 | 15.15 | 11.97 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | (91) | (204) | 277 | 586 | 687 | 971 | ||||
| Capex | — | — | — | — | (7) | (22) | (26) | (56) | (64) | (61) | |||||
| Free cash flow | — | — | — | — | (98) | (226) | 251 | 530 | 623 | 910 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | 1,803 | 1,945 | 2,572 | 1,899 | 1,282 | ||||
| Total debt | — | — | — | — | — | 54 | 49 | — | — | — | |||||
| Net debt | — | — | — | — | — | (1,495) | (1,789) | (2,323) | (1,521) | (859) | |||||
| Shareholders’ equity | — | — | — | — | — | (573) | (64) | 3,750 | 3,093 | 2,518 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | 0.00 | (4.93) | 2.32 | (38.69) | 10.13 | 11.23 | ||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 0.00 | (93.82) | 19.44 | 18.76 | |||||
| ROE | — | — | — | — | 0.00 | 0.00 | (24.18) | (88.12) | 13.09 | 15.61 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Maplebear Inc. vs peers in Internet Retail (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| EBAY eBay Inc. | $51.8B | 23.7× | 24.0× | +14.80% (above 0%: growing) | +55.00% (above 0%: growing) | +168.03% (above 0%: growing) | 73.45% | 21.57% | Compare |
| JD JD.com, Inc. | $32.2B | 17.1× | 10.9× | +2.54% (above 0%: growing) | +27.87% (above 0%: growing) | +64.77% (above 0%: growing) | 17.12% | 1.31% | Compare |
| CPNG Coupang, Inc. | $27.2B | — (loss-making) | — (loss-making) | +3.89% (above 0%: growing) | n/m | −79.35% (below 0%: shrinking) | 28.16% | (6.28%) | Compare |
| W Wayfair Inc. | $14.4B | — (loss-making) | — (loss-making) | +7.52% (above 0%: growing) | n/m | +28.46% (above 0%: growing) | 29.95% | 2.96% | Compare |
| CART Maplebear Inc. | $11.5B | 26.0× | 17.0× | +14.11% (above 0%: growing) | +6.98% (above 0%: growing) | +157.22% (above 0%: growing) | 72.00% | 13.81% | |
| CHWY Chewy | $7.9B | 31.6× | 23.1× | +7.28% (above 0%: growing) | +33.33% (above 0%: growing) | −15.49% (below 0%: shrinking) | 30.36% | 2.76% | Compare |
| ETSY Etsy, Inc. | $7.3B | 38.9× | 18.9× | +6.23% (above 0%: growing) | n/m | −64.33% (below 0%: shrinking) | 72.43% | 18.74% | Compare |
| GLBE Global-e Online Ltd. | $6.6B | 42.2× | 28.3× | +39.15% (above 0%: growing) | +366.67% (above 0%: growing) | +15.22% (above 0%: growing) | 44.10% | 14.94% | Compare |
| VIPS Vipshop Holdings Limited | $5.1B | 4.1× | 5.1× | +1.08% (above 0%: growing) | +221.95% (above 0%: growing) | +38.25% (above 0%: growing) | 23.29% | 6.15% | Compare |
| Median of peers | $11.2B | 27.6× | 21.0× | +6.76% | +55.00% | +21.84% | 30.16% | 4.56% |
Maplebear Inc. (CART) key facts
- Strength: Maplebear Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, up 10.8% from fiscal 2024.
- Maplebear Inc. (CART) is an Internet Retail company in the Consumer Cyclical sector, listed on Nasdaq.
- As of October 15, 2026, CART traded at $51.13, a market capitalization of $11.5 billion.
- Return on equity was 15.6% and debt-to-equity 0.00.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 6.20 (safe zone) for fiscal 2025.