Maplebear Inc. (CART) vs Wayfair Inc. (W)

Maplebear Inc. and Wayfair Inc. are both Internet Retail companies. Wayfair Inc. is the larger, with a market value of $15.5B against $13.7B — 1.1× the size. Wayfair Inc. has negative trailing earnings, so its P/E is not meaningful; Maplebear Inc. trades at 29.2×. Maplebear Inc. grew revenue faster over the last twelve months: 14.2% against 7.89%. Maplebear Inc. has the higher net margin (11.4% vs −1.21%) and the higher return on invested capital (0.00% vs 0.00%). Across the 18 metrics below, Maplebear Inc. leads on 13 and Wayfair Inc. on 5.

Valuation

Metric CART W Internet Retail median
P/E 29.17 n/m 23.90
P/S 3.24 1.18 0.71
P/B 5.24 n/m 1.80
Price to free cash flow 11.12 25.87 15.07
EV/EBITDA 17.62 30.60 17.34
EV/Sales 3.01 1.29 0.77
Earnings yield 3.43% (1.10%) 0.46%
Free cash flow yield 8.99% 3.87% (0.39%)

Profitability

Metric CART W Internet Retail median
Gross margin 72.11% 29.95% 44.04%
Operating margin 0.00% 2.14% 0.08%
Net margin 11.42% (1.21%) 1.15%
Free cash flow margin 29.16% 4.56% 0.00%
Return on equity 15.73% 5.74% 0.00%
Return on assets 11.68% (5.11%) 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric CART W Internet Retail median
Revenue growth (TTM) 14.20% 7.89% 10.82%
EPS growth (last fiscal year) 1.27% 39.15% 19.82%
Revenue growth, 5-year CAGR 20.43% (2.51%) 10.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CART W Internet Retail median
Debt to equity 0.00 (0.92) 0.12
Current ratio 2.34 0.67 1.52
Net debt to EBITDA (1.44) 5.11 (0.66)

Dividend

Metric CART W Internet Retail median
Dividend yield — — 1.66%
Payout ratio — — 0.27

Size

Metric CART W Internet Retail median
Market cap 13.67b 15.53b 566.40m

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