Maplebear (CART) AI Stock Analysis

• Market Cap: $10.35B
• Dividend Yield: N/A
• Average Volume (3M): 6.57M
• Price to Earnings (P/E): 21.6
• Beta (1Y): 1.01
• Revenue Growth: 10.16%
• EPS Growth: 18.29%
• Country: US
• Employees: 3,265
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.51
• Shares Outstanding: 262,532,960
• 10 Day Avg. Volume: 8,254,386
• 30 Day Avg. Volume: 6,574,879
• PEG Ratio: -0.21
• Price to Book (P/B): 3.54
• Price to Sales (P/S): 3.24
• P/FCF Ratio: 17.59
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 2.42
• Enterprise Value/Gross Profit: 3.25
• Enterprise Value/Ebitda: 13.31
• 1Y Price Target: $50.75
• Price Target Upside: 25.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 23
• EPS Forecast (FY): 1.81
• Revenue Forecast (FY): $3.72B

• Rating: 75 Outperform
• Price Target: $44.00 ▲(9.10% Upside)

Maplebear's strong financial performance and positive earnings call are the most significant factors driving the stock score. The company's robust profitability, low leverage, and strategic growth initiatives provide a solid foundation for future growth. However, technical analysis suggests potential bearish momentum, and valuation metrics indicate moderate attractiveness. Challenges such as declining average order value and regulatory issues should be monitored.

Positive Factors

Revenue Growth

Consistent revenue growth reflects the company's ability to expand its market presence and maintain customer demand, supporting long-term business sustainability.

Enterprise Platform Expansion

The expansion of the enterprise platform enhances market reach and provides opportunities for international growth, strengthening competitive positioning.

Strong Financial Health

Low leverage and strong financial stability provide a solid foundation for future growth and resilience against economic fluctuations.

Negative Factors

Regulatory Challenges

Regulatory changes can increase operational costs and affect profitability, posing long-term challenges to the business model in key markets.

Decreasing Average Order Value

A decline in average order value can impact revenue growth and profitability, necessitating strategic adjustments to maintain financial performance.

Macro Environment Impact

Economic uncertainties affecting advertising spend can limit revenue from this segment, challenging the company's diversification efforts.

Maplebear Business Overview & Revenue Model

Company Description

Maplebear (CART) is a technology-driven logistics company specializing in on-demand delivery services. Operating primarily in the e-commerce sector, Maplebear focuses on providing fast and efficient delivery solutions for various products, including groceries, household items, and personal care products. The company leverages a network of local couriers and advanced routing algorithms to ensure timely deliveries, catering to both consumers and businesses seeking quick fulfillment options.

How the Company Makes Money

Maplebear generates revenue through multiple streams, primarily by charging delivery fees for its services. Customers pay a service charge for each order, which varies based on distance and delivery speed. Additionally, the company partners with local retailers and brands, offering them a platform to reach consumers through Maplebear's delivery network for a fee or commission on sales made through the platform. Subscription models for frequent users who wish to enjoy lower delivery fees or unlimited deliveries also contribute to the revenue. Moreover, advertising partnerships with brands looking to promote their products within the Maplebear app add an additional layer of income. Overall, the combination of delivery fees, commissions from retailers, subscription services, and advertising partnerships forms the core of Maplebear's revenue model.

Maplebear Financial Statement Overview

Summary

Maplebear demonstrates strong financial health with robust profitability, low leverage, and efficient cash flow management. The company has shown consistent growth and stability, although past financial volatility and leverage should be monitored. The positive trajectory in recent years suggests a promising outlook for continued financial performance.

Income Statement

Maplebear's income statement shows strong profitability with a gross profit margin of 74.8% and a net profit margin of 13.8% in TTM. Revenue growth is positive at 2.5% TTM, indicating a steady upward trajectory. EBIT and EBITDA margins are healthy at 15.7% and 17.9% respectively, reflecting efficient operations. The company has shown consistent revenue growth over the years, although the growth rate has slowed recently.

Balance Sheet

The balance sheet is robust with a low debt-to-equity ratio of 0.01, indicating minimal leverage and strong financial stability. Return on equity is strong at 15.3% TTM, showcasing effective use of equity to generate profits. The equity ratio stands at 80.4%, reflecting a solid equity base relative to total assets. However, past negative equity and high leverage in earlier years highlight potential risks.

Cash Flow

Cash flow analysis reveals a healthy free cash flow growth rate of 13% TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is nearly 1, suggesting efficient cash conversion. The free cash flow to net income ratio is 0.93, reflecting good cash flow management. Historical volatility in cash flows poses a potential risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.63B	3.38B	3.04B	2.55B	1.83B	1.48B
Gross Profit	2.71B	2.54B	2.28B	1.83B	1.23B	879.00M
EBITDA	660.00M	556.00M	-2.08B	109.00M	-59.00M	-55.00M
Net Income	514.00M	457.00M	-1.62B	428.00M	-73.00M	-70.00M
Balance Sheet
Total Assets	4.54B	4.12B	4.73B	3.67B	2.96B	2.10B
Cash, Cash Equivalents and Short-Term Investments	1.73B	1.52B	2.19B	1.79B	1.50B	1.43B
Total Debt	37.00M	26.00M	40.00M	49.00M	54.00M	51.00M
Total Liabilities	1.08B	1.02B	977.00M	911.00M	712.00M	520.00M
Stockholders Equity	3.46B	3.09B	3.75B	2.76B	2.25B	1.58B
Cash Flow
Free Cash Flow	880.00M	623.00M	530.00M	251.00M	-226.00M	-98.00M
Operating Cash Flow	941.00M	687.00M	586.00M	277.00M	-204.00M	-91.00M
Investing Cash Flow	-244.00M	-107.00M	135.00M	117.00M	-330.00M	301.00M
Financing Cash Flow	-302.00M	-1.41B	-30.00M	46.00M	464.00M	671.00M

Maplebear Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 40.33
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CART, the sentiment is Neutral. The current price of 40.33 is above the 20-day moving average (MA) of 38.13, above the 50-day MA of 40.14, and below the 200-day MA of 43.55, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 61.46 is Neutral, neither overbought nor oversold. The STOCH value of 88.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CART.

Maplebear Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CART	75 Outperform	$10.35B	21.64	15.33%	―	10.16%	18.29%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
WINA	58 Neutral	$1.48B	37.00	―	3.33%	3.35%	1.97%
W	57 Neutral	$14.56B	―	―	―	3.35%	42.99%
CHWY	54 Neutral	$13.69B	93.12	34.48%	―	9.04%	-56.79%
ETSY	53 Neutral	$6.31B	44.67	―	―	1.98%	-20.98%
TDUP	52 Neutral	$936.06M	―	-35.37%	―	-4.90%	50.77%

Maplebear Corporate Events

Instacart’s Earnings Call Highlights Growth Amid Challenges

Instacart’s recent earnings call painted a picture of robust financial health and strategic growth, despite facing some challenges. The company showcased strong performance metrics, particularly in orders and advertising, while also addressing potential hurdles such as regulatory changes and shifts in average order value. The sentiment was largely positive, bolstered by an increased share repurchase program that signals confidence in future prospects.

Instacart Reports Strong Q3 Growth and Strategic Advances

Maplebear Inc., operating as Instacart, is a leading technology and enablement partner in the grocery industry, offering a platform that facilitates the discovery, purchase, and delivery of groceries. In its latest earnings report, Instacart announced a robust performance for the third quarter, with a 14% increase in orders and a 10% rise in Gross Transaction Value (GTV), alongside significant growth in net income and Adjusted EBITDA. The company is advancing its strategy to accelerate online grocery adoption by enhancing customer and retailer relationships, expanding its advertising ecosystem, and launching innovative AI-powered tools. Key financial highlights include a total revenue of $939 million, a 10% increase year-over-year, and a net income of $144 million, reflecting a 22% rise. Instacart’s strategic initiatives, such as price parity with retailers and the expansion of enterprise solutions, have been instrumental in driving growth. Looking ahead, Instacart remains optimistic about its growth trajectory, with plans to continue investing in technology and expanding its market presence, while maintaining a focus on profitable growth.

Maplebear Expands Share Repurchase Program to $2.5 Billion

On November 4, 2025, Maplebear‘s Board of Directors approved an increase to their share repurchase program, raising the authorization to $2.5 billion from the previous $1 billion. This strategic move, which includes an accelerated share repurchase agreement with Goldman Sachs, is expected to impact the company’s market operations by enhancing shareholder value and demonstrating confidence in long-term growth. The transactions under this agreement are set to begin on November 11, 2025, with final settlement expected by the end of Q1 2026.

The most recent analyst rating on (CART) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on Maplebear stock, see the CART Stock Forecast page.

Instacart Appoints New CEO and Board Member

On August 15, 2025, Instacart announced the appointment of Josh Silverman, CEO of Etsy, to its Board of Directors, expanding the board to ten members. Silverman’s extensive experience in consumer technology and marketplaces is expected to enhance Instacart’s strategic direction and growth in the grocery technology sector. Concurrently, Chris Rogers assumed the roles of CEO and President, following Fidji Simo’s resignation from these positions, though she continues as Chair of the Board.

The most recent analyst rating on (CART) stock is a Hold with a $53.00 price target. To see the full list of analyst forecasts on Maplebear stock, see the CART Stock Forecast page.

Maplebear Inc. Reports Strong Growth Amid Challenges

Maplebear Inc.’s recent earnings call showcased a generally positive sentiment, highlighting strong growth in several key areas. The company reported significant advancements in Gross Transaction Value (GTV), orders, and advertising revenue, largely fueled by strategic initiatives in artificial intelligence, membership expansion, and enterprise partnerships. Despite some challenges, such as a decrease in average order value and reduced ad spend from large consumer packaged goods (CPG) brands, the overall sentiment remained optimistic due to the robust financial performance and positive developments.