analyzeportfolio
Nasdaq · Industrials

Maplebear Inc. (CART)

As-reported financials and SEC filings for Maplebear Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Maplebear Inc.

Maplebear Inc., known as Instacart, provides technology and services for the grocery industry, connecting consumers, retailers, brands, and shoppers. It offers an online marketplace and an enterprise platform that powers grocery e-commerce, fulfillment, in-store technologies, advertising, and data insights. Instacart serves over 2,200 retail banners, reaches more than 98% of North American households, supports around 600,000 shoppers, and provides advertising solutions to over 9,000 brands.

Snapshot

Revenue
$3.74B
Revenue growth (YoY)
10.8%
Net income
$447.0M
Diluted EPS
$1.60
Gross margin
73.7%
Operating margin
13.3%
Net margin
11.9%
FCF margin
24.3%
ROE
—
net income / fiscal-year-end equity
P/E
27.0×
trailing when available, otherwise FY EPS
Market cap
$11.72B
Long-term debt / equity
—
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Maplebear

  • Revenue grew 10.8% to $3.7B in FY2025, in line with the 11.0% the year before.
  • Operating margin turned positive at 13.3% in FY2025, from a 4.7% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.0B, up 14.1% from Q2 FY2025.
  • Free cash flow was $910M in FY2025, 24.3% of revenue.
  • Net income fell 2.2% to $447M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Maplebear’s fundamentals sit among the 668 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin73.7%
97th percentile of 455
Operating margin13.3%
73rd percentile of 598
Net margin11.9%
80th percentile of 630
FCF margin24.3%
95th percentile of 546
Revenue growth (YoY)+10.8%
68th percentile of 652
P/E27.0×
60th percentile of 406
Short interest4.85d
73rd percentile of 661

Maplebear’s gross margin of 73.7% ranks in the 97th percentile of the 455 Industrials companies reporting it. Maplebear’s FCF margin of 24.3% ranks in the 95th percentile of the 546 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 11 insider sales totaling $12.7M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+7 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$322.7M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$71.8M1.5MAdded
Renaissance TechnologiesquantQ2 2026$68.8M1.5MReduced
Citadel AdvisorsquantQ2 2026$61.9M1.3MAdded
Point72 Asset ManagementquantQ2 2026$40.7M858.8KReduced
Gotham Asset ManagementQ2 2026$31.2M658.4KAdded
AQR Capital ManagementquantQ2 2026$26.0M548.1KReduced
Millennium ManagementquantQ2 2026$18.2M384.5KAdded
Two Sigma InvestmentsquantQ2 2026$4.2M89.7KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
11
$12.7M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-22
filed 2026-09-24
Morgan FongChief Legal OfficerSell17.6K$44.95$792K
2026-09-22
filed 2026-09-24
Morgan FongChief Legal OfficerSell773$45.64$35K
2026-09-15
filed 2026-09-17
Lisa Blackwood-KapralChief Accounting OfficerSell3.0K$47.08$142K
2026-08-27
filed 2026-08-31
Mary Beth LaughtonDirectorSell10.2K$50.33$515K
2026-08-24
filed 2026-08-26
Morgan FongChief Legal OfficerSell14.1K$49.81$702K
2026-08-24
filed 2026-08-26
Morgan FongChief Legal OfficerSell4.3K$50.47$217K
2026-08-19
filed 2026-08-21
Ravi GuptaDirectorSell150.0K$50.61$7.6M
2026-08-19
filed 2026-08-21
Chris RogersPresident and CEOSell7.6K$48.95$372K
2026-08-13
filed 2026-08-17
Emily ReuterCHIEF FINANCIAL OFFICERSell25.0K$50.01$1.3M
2026-08-07
filed 2026-08-11
Chris RogersPresident and CEOSell4.9K$50.00$247K
2026-07-22
filed 2026-07-24
Morgan FongChief Legal OfficerSell18.4K$44.34$815K
2026-07-15
filed 2026-07-17
Lisa Blackwood-KapralChief Accounting OfficerSell3.0K$47.64$144K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
22.0M
settled 2026-09-30
Change vs prior
+41.9%
vs previous settlement
Days to cover
4.85
at avg daily volume
Avg daily volume
4.5M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3022.0M+41.9%4.85
2026-09-1515.5M-3.0%4.46
2026-08-3116.0M+1.1%4.35
2026-08-1415.8M+1.2%3.13
2026-07-3115.6M-7.0%4.70
2026-07-1516.8M-12.8%3.86
2026-06-3019.3M+1.5%4.17
2026-06-1519.0M+14.6%4.61

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$3.74B$3.38B$3.04B$2.55B$1.83B
Gross profit
Operating income$498.0M$489.0M$-2.14B$62.0M$-86.0M
Net income$447.0M$457.0M$-1.62B$428.0M$-73.0M
Diluted EPS$1.60$1.58$-12.43$0.96$-1.12

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$637.0M$1.28B$2.14B$1.50B$1.15B
Current assets$2.20B$2.70B$3.31B$2.74B—
Total assets$3.69B$4.12B$4.73B$3.67B—
Current liabilities$917.0M$798.0M$733.0M$795.0M—
Long-term debt—————
Total liabilities$974.0M$836.0M$800.0M$911.0M—
Total equity$2.52B$3.09B$3.75B$-64.0M$-573.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$971.0M$687.0M$586.0M$277.0M$-204.0M
Capital expenditure$61.0M$64.0M$54.0M$24.0M$13.0M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.04B14.1%$111.0M$0.45
Q1 FY2026$1.02B13.6%$144.0M$0.57
Q4 FY202512.3%
Q3 FY2025$939.0M10.2%$144.0M$0.51
Q2 FY2025$914.0M11.1%$116.0M$0.41
Q1 FY2025$897.0M9.4%$106.0M$0.37
Q4 FY202410.0%
Q3 FY2024$852.0M11.5%$118.0M$0.42

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorIndustrials
SIC industryServices-Business Services, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2013
SEC CIK1579091

Selected SEC filings

10-Q2026-08-07
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-09-25
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-05-29
View on EDGAR →
8-K2026-05-06
View on EDGAR →

Largest Industrials peers

All Industrials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.