PerpEquities

Equity

Maplebear Inc. (CART) perpetual futures

CART perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade CARTUSDT.

Maplebear Inc., operating as Instacart, is a technology and enablement partner for the grocery industry, offering a marketplace, an enterprise platform for retailers, and advertising solutions.

$60.39-0.5%NASDAQ open
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TradingView symbol NASDAQ:CART

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Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$12.1K
Open interest
$30.8K
Best liquidity
$67.7K
MEXC
Tightest spread
+9.9 bps
MEXC
Highest volume
$12.1K
MEXC
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $50.5M
OI / float
0.00%
Float $9.9B
Spot performance
1D-0.57%
5D+19.91%
1M+40.15%
6M+40.47%
YTD+34.57%
1Y+57.84%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeCART/USDTTrading$60.39+4.7% APR
+0.00430% every 8h
+9.9 bps$67.7K$12.1K$30.8KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Thin liquidity · 1 of 1 venues absorb $10k · Typical cost: +19.0 bps

Cheapest execution: MEXC · +19.0 bps

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

CART

Tightest spread

CART

Highest volume

CART

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 1h ago
Market cap
$14.2B
Updated 1h ago
Revenue
$4B
Trailing 12 months
Revenue growth
+14%
Next fiscal year
Profit margin
+12.0%
P/E
31.5
Peer P/E 10.6
Free cash flow
$1.2B
Trailing 12 months
More metrics
Net income
$480M
Trailing 12 months
P/S
3.6
Peer P/E
10.6
Similar listed perps
Revenue estimate
$4.3B
Next fiscal year
Earnings
2026-11-05
Revenue est. $1.1B · Updated 1h ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$3.7B
Net margin+11.9%
Free cash flow$911M
Net debt-$601M
2020$1.5B
2021$1.8B
2022$2.6B
2023$3B
2024$3.4B
2025$3.7B
PeriodRevenueGrowthNet incomeFCF
2020$1.5B+590%-$70M-$98M
2021$1.8B+24%-$73M-$226M
2022$2.6B+39%$428M$251M
2023$3B+19%-$1.6B$530M
2024$3.4B+11%$457M$623M
2025$3.7B+11%$447M$911M
PeriodGross marginOperating marginNet marginROEROA
2020+59.5%-5.1%-4.7%-4.4%-3.3%
2021+66.8%-4.7%-4.0%-3.2%-2.5%
2022+71.8%+2.4%+16.8%+15.5%+11.7%
2023+74.9%-70.4%-53.3%-43.3%-34.3%
2024+75.3%+14.5%+13.5%+14.8%+11.1%
2025+73.7%+13.3%+11.9%+17.8%+12.1%
PeriodCashDebtNet debtCurrent ratio
2020$1.2B$51M-$1.2B4.85
2021$1.1B$54M-$1.1B4.05
2022$1.6B$49M-$1.5B3.45
2023$2.1B$40M-$2.1B4.51
2024$1.4B$26M-$1.4B3.38
2025$637M$36M-$601M2.40
PeriodMarket capEnterprise valueP/SP/E
2020$9.3B$8.2B6.3-134.8
2021$9.3B$8.2B5.1-129.6
2022$9.3B$7.8B3.7120.4
2023$3.1B$968.6M1.0-1.9
2024$11B$9.6B3.224.5
2025$11.8B$11.2B3.126.3
Q3 2024$852M
Q4 2024$883M
Q1 2025$897M
Q2 2025$914M
Q3 2025$939M
Q4 2025$992M
Q1 2026$1B
Q2 2026$1B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$852M+12%$118M$171M
Q4 2024$883M+10%$148M$141M
Q1 2025$897M+9%$106M$280M
Q2 2025$914M+11%$116M$187M
Q3 2025$939M+10%$144M$272M
Q4 2025$992M+12%$81M$171M
Q1 2026$1B+14%$144M$252M
Q2 2026$1B+14%$111M$480M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+75.2%+16.2%+13.8%+4.1%+3.0%
Q4 2024+75.2%+17.6%+16.8%+4.8%+3.6%
Q1 2025+74.8%+12.3%+11.8%+3.3%+2.5%
Q2 2025+74.2%+13.6%+12.7%+3.5%+2.6%
Q3 2025+73.7%+17.7%+15.3%+4.2%+3.2%
Q4 2025+72.3%+9.9%+8.2%+3.2%+2.2%
Q1 2026+71.8%+18.1%+14.1%+5.6%+4.1%
Q2 2026+72.0%+13.7%+10.6%+4.8%+3.2%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$1.3B$28M-$1.3B3.06
Q4 2024$1.4B$26M-$1.4B3.38
Q1 2025$1.6B$22M-$1.5B3.24
Q2 2025$1.5B$37M-$1.5B3.32
Q3 2025$1.7B$37M-$1.7B3.64
Q4 2025$637M$36M-$601M2.40
Q1 2026$741M$34M-$707M2.36
Q2 2026$757M$34M-$723M2.28
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$10.6B$9.3B12.422.6
Q4 2024$10.7B$9.3B12.118.5
Q1 2025$10.5B$8.9B11.724.9
Q2 2025$11.9B$10.4B13.026.3
Q3 2025$9.7B$8.1B10.417.0
Q4 2025$11.5B$10.9B11.636.3
Q1 2026$9B$8.3B8.815.9
Q2 2026$11.1B$10.4B10.725.7

Refreshed 1h ago

Charts: revenue, profit, cash flow & valuation
Revenue$1BQ2 2026
$260.8M$521.5M$782.3M$1BQ3 2023: $764MQ4 2023: $803MQ1 2024: $820MQ2 2024: $823MQ3 2024: $852MQ4 2024: $883MQ1 2025: $897MQ2 2025: $914MQ3 2025: $939MQ4 2025: $992MQ1 2026: $1BQ2 2026: $1BQ3 2023Q2 2026
Net income$111MQ2 2026
-$1.5B-$925.5M-$388.8M$148MQ3 2023: -$2BQ4 2023: $135MQ1 2024: $130MQ2 2024: $61MQ3 2024: $118MQ4 2024: $148MQ1 2025: $106MQ2 2025: $116MQ3 2025: $144MQ4 2025: $81MQ1 2026: $144MQ2 2026: $111MQ3 2023Q2 2026
EBITDA$179MQ2 2026
-$1.8B-$1.1B-$442.5M$218MQ3 2023: -$2.4BQ4 2023: $85MQ1 2024: $177MQ2 2024: $83MQ3 2024: $171MQ4 2024: $185MQ1 2025: $146MQ2 2025: $146MQ3 2025: $209MQ4 2025: $135MQ1 2026: $218MQ2 2026: $179MQ3 2023Q2 2026
Free cash flow$480MQ2 2026
$120M$240M$360M$480MQ3 2023: $95MQ4 2023: $215MQ1 2024: $91MQ2 2024: $221MQ3 2024: $171MQ4 2024: $141MQ1 2025: $280MQ2 2025: $187MQ3 2025: $272MQ4 2025: $171MQ1 2026: $252MQ2 2026: $480MQ3 2023Q2 2026
EPS$0.45Q2 2026
-$5.21-$3.28-$1.36$0.57Q3 2023: -$7.14Q4 2023: $0.48Q1 2024: $0.48Q2 2024: $0.2Q3 2024: $0.42Q4 2024: $0.53Q1 2025: $0.38Q2 2025: $0.41Q3 2025: $0.51Q4 2025: $0.3Q1 2026: $0.57Q2 2026: $0.45Q3 2023Q2 2026
Cash / Debt$757MQ2 2026
$534.3M$1.1B$1.6B$2.1BQ3 2023 · Cash: $2.1BQ3 2023 · Debt: $43MQ4 2023 · Cash: $2.1BQ4 2023 · Debt: $40MQ1 2024 · Cash: $1.5BQ1 2024 · Debt: $36MQ2 2024 · Cash: $1.4BQ2 2024 · Debt: $32MQ3 2024 · Cash: $1.3BQ3 2024 · Debt: $28MQ4 2024 · Cash: $1.4BQ4 2024 · Debt: $26MQ1 2025 · Cash: $1.6BQ1 2025 · Debt: $22MQ2 2025 · Cash: $1.5BQ2 2025 · Debt: $37MQ3 2025 · Cash: $1.7BQ3 2025 · Debt: $37MQ4 2025 · Cash: $637MQ4 2025 · Debt: $36MQ1 2026 · Cash: $741MQ1 2026 · Debt: $34MQ2 2026 · Cash: $757MQ2 2026 · Debt: $34MQ3 2023Q2 2026
CashDebt
Profitability+72.0%Q2 2026
-222.3%-122.9%-23.6%+75.7%Q3 2023 · Gross margin: +73.4%Q4 2023 · Gross margin: +75.7%Q1 2024 · Gross margin: +74.9%Q2 2024 · Gross margin: +75.7%Q3 2024 · Gross margin: +75.2%Q4 2024 · Gross margin: +75.2%Q1 2025 · Gross margin: +74.8%Q2 2025 · Gross margin: +74.2%Q3 2025 · Gross margin: +73.7%Q4 2025 · Gross margin: +72.3%Q1 2026 · Gross margin: +71.8%Q2 2026 · Gross margin: +72.0%Q3 2023 · Operating margin: -321.6%Q4 2023 · Operating margin: +5.7%Q1 2024 · Operating margin: +17.6%Q2 2024 · Operating margin: +6.3%Q3 2024 · Operating margin: +16.2%Q4 2024 · Operating margin: +17.6%Q1 2025 · Operating margin: +12.3%Q2 2025 · Operating margin: +13.6%Q3 2025 · Operating margin: +17.7%Q4 2025 · Operating margin: +9.9%Q1 2026 · Operating margin: +18.1%Q2 2026 · Operating margin: +13.7%Q3 2023 · Net margin: -261.6%Q4 2023 · Net margin: +16.8%Q1 2024 · Net margin: +15.9%Q2 2024 · Net margin: +7.4%Q3 2024 · Net margin: +13.8%Q4 2024 · Net margin: +16.8%Q1 2025 · Net margin: +11.8%Q2 2025 · Net margin: +12.7%Q3 2025 · Net margin: +15.3%Q4 2025 · Net margin: +8.2%Q1 2026 · Net margin: +14.1%Q2 2026 · Net margin: +10.6%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+14.1%Q2 2026
+3.5%+7.1%+10.6%+14.1%Q3 2024: +11.5%Q4 2024: +10.0%Q1 2025: +9.4%Q2 2025: +11.1%Q3 2025: +10.2%Q4 2025: +12.3%Q1 2026: +13.6%Q2 2026: +14.1%Q3 2023Q2 2026
Shares outstanding248.9MQ2 2026
71.6M143.1M214.7M286.3MQ3 2023: 280.1MQ4 2023: 279MQ1 2024: 265.7MQ2 2024: 286.3MQ3 2024: 281MQ4 2024: 282MQ1 2025: 277.2MQ2 2025: 281.3MQ3 2025: 283.2MQ4 2025: 265.3MQ1 2026: 253.6MQ2 2026: 248.9MQ3 2023Q2 2026
Valuation25.7Q2 2026
8.417.927.436.8Q3 2023 · P/E: -1.0Q4 2023 · P/E: 12.2Q1 2024 · P/E: 18.8Q2 2024 · P/E: 36.8Q3 2024 · P/E: 22.6Q4 2024 · P/E: 18.5Q1 2025 · P/E: 24.9Q2 2025 · P/E: 26.3Q3 2025 · P/E: 17.0Q4 2025 · P/E: 36.3Q1 2026 · P/E: 15.9Q2 2026 · P/E: 25.7Q3 2023 · P/S: 10.9Q4 2023 · P/S: 8.2Q1 2024 · P/S: 11.9Q2 2024 · P/S: 10.5Q3 2024 · P/S: 12.4Q4 2024 · P/S: 12.1Q1 2025 · P/S: 11.7Q2 2025 · P/S: 13.0Q3 2025 · P/S: 10.4Q4 2025 · P/S: 11.6Q1 2026 · P/S: 8.8Q2 2026 · P/S: 10.7Q3 2023Q2 2026
P/EP/S
Revenue$3.7B2025
$935.5M$1.9B$2.8B$3.7B2019: $214M2020: $1.5B2021: $1.8B2022: $2.6B2023: $3B2024: $3.4B2025: $3.7B20192025
Net income$447M2025
-$1.1B-$582.5M-$62.8M$457M2019: -$531M2020: -$70M2021: -$73M2022: $428M2023: -$1.6B2024: $457M2025: $447M20192025
EBITDA$655M2025
-$1.3B-$674.5M-$9.8M$655M2019: -$551M2020: -$55M2021: -$45M2022: $118M2023: -$2B2024: $619M2025: $655M20192025
Free cash flow$911M2025
-$152.5M$202M$556.5M$911M2019: -$507M2020: -$98M2021: -$226M2022: $251M2023: $530M2024: $623M2025: $911M20192025
EPS$1.62025
-$8.92-$5.42-$1.91$1.62019: -$9.712020: -$0.252021: -$0.262022: $0.282023: -$12.42024: $1.582025: $1.620192025
Cash / Debt$637M2025
$534.3M$1.1B$1.6B$2.1B2020 · Cash: $1.2B2020 · Debt: $51M2021 · Cash: $1.1B2021 · Debt: $54M2022 · Cash: $1.6B2022 · Debt: $49M2023 · Cash: $2.1B2023 · Debt: $40M2024 · Cash: $1.4B2024 · Debt: $26M2025 · Cash: $637M2025 · Debt: $36M20192025
CashDebt
Profitability+73.7%2025
-176.0%-92.3%-8.5%+75.3%2019 · Gross margin: -8.4%2020 · Gross margin: +59.5%2021 · Gross margin: +66.8%2022 · Gross margin: +71.8%2023 · Gross margin: +74.9%2024 · Gross margin: +75.3%2025 · Gross margin: +73.7%2019 · Operating margin: -259.8%2020 · Operating margin: -5.1%2021 · Operating margin: -4.7%2022 · Operating margin: +2.4%2023 · Operating margin: -70.4%2024 · Operating margin: +14.5%2025 · Operating margin: +13.3%2019 · Net margin: -248.1%2020 · Net margin: -4.7%2021 · Net margin: -4.0%2022 · Net margin: +16.8%2023 · Net margin: -53.3%2024 · Net margin: +13.5%2025 · Net margin: +11.9%20192025
Gross marginOperating marginNet margin
Revenue growth+10.8%2025
+147.5%+295.1%+442.6%+590.2%2020: +590.2%2021: +24.2%2022: +39.1%2023: +19.2%2024: +11.0%2025: +10.8%20192025
Shares outstanding279.6M2025
72.3M144.6M216.9M289.2M2019: 54.7M2020: 276.7M2021: 276.7M2022: 276.7M2023: 130.6M2024: 289.2M2025: 279.6M20192025
Valuation26.32025
-71.0-7.256.6120.42019 · P/E: -3.52020 · P/E: -134.82021 · P/E: -129.62022 · P/E: 120.42023 · P/E: -1.92024 · P/E: 24.52025 · P/E: 26.32019 · P/S: 8.62020 · P/S: 6.32021 · P/S: 5.12022 · P/S: 3.72023 · P/S: 1.02024 · P/S: 3.22025 · P/S: 3.120192025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-05
Revenue est. $1.1B · Updated 1h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20262.33$4.3B+14%23
FY 20272.96$4.7B+26%24
FY 20283.50$5.2B+39%19
FY 20293.86$5.5B+48%8
FY 20304.38$5.9B+59%14
Q1 20270.68$1.1B+11%7

Company events

6
2026-11-05EarningsActual - / Estimate 0.63-
2026-08-06EarningsActual 0.45 / Estimate 0.54Miss
2026-05-06EarningsActual 0.57 / Estimate 0.58Miss
2026-02-12EarningsActual 0.31 / Estimate 0.52Miss
2025-11-10EarningsActual 0.51 / Estimate 0.49Beat
2025-08-07EarningsActual 0.41 / Estimate 0.38Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering CART have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings123352
Analysts3543
Buy / hold / sell72 / 47 / 4207 / 140 / 5
Upgrades / downgrades / initiations4 / 1 / 412 / 7 / 20
Price targets hit / missed92 / 19 (83%)257 / 38 (87%)
Avg. return after a rating (TipRanks)+17.3%+25.2%
Best / worst call+68.2% / -21.4%+132.9% / -21.4%

After buy calls on this stock: median 21-day move 0.0% vs S&P 500 -0.7% (n = 209)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Doug AnmuthJ.P. Morgan89% hit rate on this stock · 9 targets measuredBuytarget $62.00Aug 7, 2026
  2. Colin SebastianRobert W. Baird79% hit rate on this stock · 14 targets measuredBuytarget $55.00Aug 7, 2026
  3. Jason HelfsteinOppenheimer46% hit rate on this stock · 13 targets measuredBuytarget $65.00Aug 7, 2026

Latest ratings

DateAnalystCallTarget
Oct 26, 2026Nikhil DevnaniBernsteinBuyMaintained$60.00
Oct 26, 2026Ygal ArounianWedbushBuyReiterated$63.00
Oct 26, 2026Ronald JoseyCitiBuyMaintained$58.00
Oct 12, 2026Eric SheridanGoldman SachsBuyReiterated$65.00
Oct 12, 2026Nikhil DevnaniBernsteinBuyMaintained$60.00

TipRanks data via FMP · computed Oct 27, 2026 · 123 ratings

Frequently asked questions

Where can I trade CART perpetual futures?

Maplebear Inc. (CART) perpetual futures trade on 1 crypto venues, including MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade CART around the clock?

Yes. Unlike the underlying stock, CART perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on CART perpetuals?

Right now the CART perp funding rate is +4.7% annualized (venue median), ranging from +4.7% to +4.7% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the CART perp price compare to the Maplebear Inc. stock?

The venue-median CART perp mark is $60.4 versus a reference stock price of $60.4, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a CART perpetual future?

A CART perpetual is a derivative that tracks the price of Maplebear Inc. with no expiry date. It lets you take long or short exposure to Maplebear Inc. on crypto venues, around the clock.

What is CARTUSDT perpetual?

CARTUSDT is the symbol most crypto exchanges use for the Maplebear Inc. perpetual settled in USDT (Tether). It tracks the CART share price through an index, trades 24/7 with leverage and never expires.

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