Maplebear Inc. (CART) financials

NASDAQ · Technology · Software - Services · 3,600 employees · CEO Chris Rogers

Price: $56.45 -1.16%
Market cap: $13.4B
Enterprise value: $12.6B
Last report: Q3 '26 filed 2026-10-29
Next report: 2027-02-11 EPS est. $0.70

Revenue (TTM)$4.15B+14.2% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)14.4%-0.8 pp vs a year agoOperating income $599M

Net income (TTM)$483M-6.0% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$1.21B+37.4% vs a year agoCapex $58M

Diluted EPS (TTM)$1.92+4.9% vs a year agoSum of the last 4 quarters

Net cash$893M-47.2% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $13.4B
Revenue: $4.15B
Revenue growth: +14%
Profit margin: 11.6%
P/E: 28.5×
P/S: 3.2×
EV / EBITDA: 16.8×
Free cash flow: $1.21B
Net income: $483M
Revenue estimate: $4.28B
Earnings: 2027-02-11
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-29): revenue beat by 2.2%, EPS missed by 4.8%Revenue $1.1B vs $1.07B expected (+2.2%); EPS $0.60 vs $0.63 (-4.8%).
Revenue growth accelerating: 16.6% year on yearQ3 '26 revenue $1.1B, against an average of 12.6% over the four quarters before.
Operating margin 14.4% (TTM), -0.8 pp on a year agoOperating income grew 7.9% while revenue grew 14.2%.
Capex 1.4% of revenue (a year ago 1.7%)$58M invested in the last 4 quarters (-4.9% on a year earlier). Free cash flow $1.21B = 250.3% of net income.
Returned $2.04B to shareholders = 168.3% of free cash flowBuybacks $2.04B (a year earlier $277M), dividends $0, stock-based pay $441M (TTM). More than the free cash flow: paid from cash or debt.
Diluted share count down 12.6% in a year248M diluted shares in Q3 '26, 283M a year earlier.
Net cash $893MCash + short-term investments $927M, debt incl. leases $34M; a year ago net cash $1.69B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$1.1B	$939M	+16.6%
Gross margin	71.8%	73.7%	-1.9 pp
Operating income	$174M	$166M	+4.8%
Operating margin	15.9%	17.7%	-1.8 pp
Net income	$147M	$144M	+2.1%
Diluted EPS	$0.60	$0.51	+17.6%
Operating cash flow	$323M	$287M	+12.5%
Capex	$17M	$15M	+13.3%
Free cash flow	$306M	$272M	+12.5%
R&D	$194M	$169M	+14.8%
Stock-based compensation	$120M	$81M	+48.1%

Reported vs consensus

2026-10-29

	Actual	Consensus	vs consensus
Revenue	$1.1B	$1.07B	+2.2%
EPS (as estimated)	$0.60	$0.63	-4.8%

From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q2 '26	y/y	Share	TTM	TTM y/y	12 quarters
Transaction	$746M	+13.2%	71.5%	$2.85B	+12.5%
Advertising And Other	$297M	+16.5%	28.5%	$1.15B	+12.9%

Revenue by region

share of total

Segment	Q2 '26	y/y	Share	TTM	TTM y/y	12 quarters
United States	$994M	+13.2%	95.4%	$3.83B	+12.2%
Non-US	$48M	+33.3%	4.6%	$165M	+20.4%

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $1.27B
Capex: -$58M
Buybacks: -$2.04B
Dividends: $0
Acquisitions: -$59M
Net debt issued: $0
Stock-based compensation: $441M
Free cash flow: $1.21B
Returned to shareholders / FCF: 168.3%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	28.5×	57.1× 3 of 5 years	24.5× – 120.4×
EV / EBITDA	16.8×	32.8× 3 of 5 years	15.4× – 66.0×
EV / Sales	3.0×	2.7×	0.3× – 4.5×
Price / FCF	11.0×	18.4× 4 of 5 years	5.8× – 37.1×
Price / Book	5.1×	3.3×	0.8× – 4.7×
FCF yield	9.1%	6.2%	-2.4% – 17.3%
Return on invested capital	17.5%	-3.4%	-42.1% – 14.4%
Return on equity	19.3%	0.3%	-43.3% – 17.8%

Analysts

Consensus target $58.47 (+3.6%)
range $45.00 – $77.00 · rating Buy

Strong buy0

Buy17

Hold11

Sell1

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$4.28B	+14.4%	$2.30	+43.8%	24.5×	24
FY2027	$4.75B	+11.0%	$2.98	+29.4%	19.0×	24
FY2028	$5.26B	+10.8%	$3.55	+19.3%	15.9×	20
FY2029	$5.67B	+7.7%	$4.22	+18.9%	13.4×	9
FY2030	$6B	+5.9%	$4.90	+16.2%	11.5×	9

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 244 figures Maplebear Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$62M	$69M	-10.1%	$70M	$80M	-12.5%
Accounts Receivable, after Allowance for Credit Loss, Current	$979M	$1.04B	-6.1%	$1.13B	$1.01B	+11.1%
Accounts Receivable, Allowance for Credit Loss, Current	$2M	$4M	-50.0%	$3M	$4M	-25.0%
Accounts Receivable, Allowance for Credit Loss, Writeoff	–	–	–	$15M	$19M	-21.1%
Accounts Receivable, Credit Loss Expense (Reversal)	$3M	$5M	-40.0%	$15M	$19M	-21.1%
Accrued Advertising, Current	$63M	$84M	-25.0%	$53M	$77M	-31.2%
Accrued Liabilities, Current	$631M	$579M	+9.0%	$634M	$505M	+25.5%
Accrued Professional Fees, Current	$66M	$45M	+46.7%	$51M	$46M	+10.9%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$171M	$93M	+83.9%	$127M	$74M	+71.6%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$7M	-$1M	-600.0%	-$1M	-$9M	+88.9%
Additional Paid in Capital	$7.29B	$6.87B	+6.1%	$7.01B	$6.69B	+4.8%
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock	$2M	$2M	0.0%	$9M	$9M	0.0%
Advertising Expense	–	–	–	$485M	$457M	+6.1%
Amortization	$6M	$6M	0.0%	$25M	$26M	-3.8%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4.62M	757K	+510.2%	1.89M	2.41M	-21.7%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$151M	$117M	+29.1%	$394M	$335M	+17.6%
Asset Impairment Charges	$0	$5M	-100.0%	$24M	$0	–
Assets	$3.51B	$4.43B	-20.8%	$3.69B	$4.12B	-10.4%
Assets, Current	$2.12B	$2.89B	-26.7%	$2.2B	$2.7B	-18.5%
Assets, Fair Value Disclosure	$565M	–	–	$446M	$975M	-54.3%
Business Combination, Acquisition Related Costs	–	–	–	$02025-04-30	–	–
Capitalized Computer Software, Period Increase (Decrease)	$24M2026-03-31	$26M	-7.7%	$98M	$91M	+7.7%
Cash and Cash Equivalents, at Carrying Value	$757M	$1.49B	-49.2%	$637M	$1.28B	-50.2%
Cash and Cash Equivalents, Fair Value Disclosure	$436M	–	–	–	–	–
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$874M	$1.63B	-46.2%	$827M	$1.45B	-42.9%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$115M	-$78M	+247.4%	-$623M	-$844M	+26.2%
Common Stock, Capital Shares Reserved for Future Issuance	102M	102M	+0.1%	95.1M	94.2M	+1.0%
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	0.0%	$0.00	$0.00	0.0%
Common Stock, Shares Authorized	2B	2B	0.0%	2B	2B	0.0%
Common Stock, Shares, Issued	233M	263M	-11.5%	243M	261M	-6.9%
Common Stock, Shares, Outstanding	233M	263M	-11.5%	243M	261M	-6.9%
Common Stock, Value, Issued	$0	$0	–	$0	$0	–
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$108M	$124M	-12.9%	$455M	$445M	+2.2%
Contract with Customer, Liability, Current	$232M	$220M	+5.5%	$211M	$200M	+5.5%
Contract with Customer, Liability, Revenue Recognized	$63M	$62M	+1.6%	$199M	$195M	+2.1%
Conversion of Stock, Amount Converted	–	–	–	$0	$0	–
Cost of Goods and Services Sold	$292M	$236M	+23.7%	$984M	$836M	+17.7%
Current Federal Tax Expense (Benefit)	–	–	–	$1M	$18M	-94.4%
Current Foreign Tax Expense (Benefit)	–	–	–	$1M	$6M	-83.3%
Current Income Tax Expense (Benefit)	–	–	–	$10M	$36M	-72.2%
Current State and Local Tax Expense (Benefit)	–	–	–	$8M	$12M	-33.3%
Debt Securities, Available-for-sale	$565M	$1.3B	-56.6%	$446M	$975M	-54.3%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$02025-09-30	$0	–	$02024-12-31	$0	–
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$02025-09-30	$0	–	$02024-12-31	$0	–
Debt Securities, Available-for-sale, Allowance for Credit Loss	$02025-12-31	$0	–	$0	$0	–
Debt Securities, Available-for-sale, Amortized Cost	$565M	$1.3B	-56.6%	$446M	$975M	-54.3%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$35M	–	–	$81M	$0	–
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$530M	$1.3B	-59.3%	$366M	$975M	-62.5%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$35M	–	–	$81M	$0	–
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$530M	$1.3B	-59.3%	$366M	$975M	-62.5%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$89M	$58M	+53.4%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	$1M	$0	–
Deferred Income Tax Assets, Net	$596M	$775M	-23.1%	$664M	$771M	-13.9%
Deferred Income Tax Expense (Benefit)	$29M	$1M	+2,800.0%	$98M	$59M	+66.1%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$9M	$1M	+800.0%
Deferred Tax Asset, Interest Carryforward	$42M2025-12-31	$0	–	$42M	$0	–
Deferred Tax Assets, Gross	$744M2025-12-31	$788M	-5.6%	$744M	$788M	-5.6%
Deferred Tax Assets, in Process Research and Development	$287M2025-12-31	$446M	-35.7%	$287M	$446M	-35.7%
Deferred Tax Assets, Net	$664M2025-12-31	$771M	-13.9%	$664M	$771M	-13.9%
Deferred Tax Assets, Net of Valuation Allowance	$702M2025-12-31	$785M	-10.6%	$702M	$785M	-10.6%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30

Data as of 2026-11-02