CART Stock Analysis: Maplebear | NASDAQ
Internet Retail | NASDAQ, USA | Market Cap: 11.129m USD | 12M Return: -0.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 185M
Qual. Beats: 0
Rev. Trend: 99.9%
Qual. Beats: 2
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 2.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Maplebear Inc., doing business as Instacart (NASDAQ: CART), is a technology and enablement partner for the grocery industry, operating its consumer marketplace and related services in the United States and internationally. The company was incorporated in 2012 and is headquartered in San Francisco, California.
Instacart operates a three-part platform: the Instacart Marketplace, which connects consumers with grocers for fulfillment across multiple shopping occasions; the Instacart Enterprise platform, an end-to-end technology offering for retailers; and Instacart Ads, which provides brands with advertising products (sponsored product ads, display ads, coupons, and brand pages) and consumer-insight tools. The business combines a two-sided consumer/retailer marketplace with enterprise software-as-a-service and an advertising layer, effectively monetizing the same grocery order through delivery fees, retailer service fees, and brand ad spend.
The company is classified under the GICS Consumer Staples sector within the Food Retail sub-industry, and completed its initial public offering on September 19, 2023. Services are delivered through the Instacart mobile application and website.
- Instacart Ads revenue accelerates, boosting take rate and margins
- Competition from Walmart+ and Amazon pressures grocery delivery market share
- Enterprise platform retailer wins diversify revenue beyond consumer marketplace
| Net Income: 485.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.25 > 0.02 and ΔFCF/TA 6.01 > 1.0 |
| NWC/Revenue: 31.21% < 20% (prev 57.48%; Δ -26.27% < -1%) |
| CFO/TA 0.27 > 3% & CFO 941.0m > Net Income 485.0m |
| Net Debt (-766.0m) to EBITDA (708.0m): -1.08 < 3 |
| Current Ratio: 2.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (253.6m) vs 12m ago -8.51% < -2% |
| Gross Margin: 72.96% > 18% (prev 75.22%; Δ -2.27% > 0.5%) |
| Asset Turnover: 98.74% > 50% (prev 80.50%; Δ 18.24% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.34 (Total Current Assets 2.09b - Total Current Liabilities 885.0m) / Total Assets 3.54b |
| B: -1.34 (Retained Earnings -4.74b / Total Assets 3.54b) |
| C: 0.15 (EBIT TTM 601.0m / Avg Total Assets 3.91b) |
| D: 2.76 (Book Value of Equity 2.59b / Total Liabilities 941.0m) |
| Altman-Z'' = 1.79 = BBB |
| DSRI: 1.01 (Receivables 1.09b/974.0m, Revenue 3.86b/3.46b) |
| GMI: 1.03 (GM 75.22% / 72.96%) |
| AQI: 1.22 (AQ_t 0.34 / AQ_t-1 0.28) |
| SGI: 1.12 (Revenue 3.86b / 3.46b) |
| TATA: -0.13 (NI 485.0m - CFO 941.0m) / TA 3.54b) |
| Beneish M = -2.79 (Cap -4..+1) = A |
As of July 03, 2026, the stock is trading at USD 45.78 with a total of 3,313,479 shares traded. Over the past week, the price has changed by -2.18%, over one month by +12.37%, over three months by +18.08% and over the past year by -0.65%.
Current recommended Stop Loss: 40.40 (which is 11.8% or 2.5 ATR below the current price).
Maplebear has received a consensus analysts rating of 3.91. Therefore, it is recommended to buy CART.
- StrongBuy: 11
- Buy: 7
- Hold: 14
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 50.2 | 9.6% |
P/E Trailing = 26.3056
P/E Forward = 18.4162
P/S = 2.8801
P/B = 4.6466
P/EG = 2.606
Revenue TTM = 3.86b USD
EBIT TTM = 601.0m USD
EBITDA TTM = 708.0m USD
Long Term Debt = 32.0m USD (estimated: total debt 34.0m - short term 2.00m)
Short Term Debt = 2.00m USD (from shortTermDebt, last quarter)
Debt = 34.0m USD (from shortLongTermDebtTotal, last quarter) (leases 34.0m already included)
Net Debt = -766.0m USD (calculated: Debt 34.0m - CCE 800.0m)
Enterprise Value = 10.4b USD (11.1b + Debt 34.0m - CCE 800.0m)
Interest Coverage Ratio = unknown (Ebit TTM 601.0m / Interest Expense TTM 0.0)
EV/FCF = 11.75x (Enterprise Value 10.4b / FCF TTM 882.0m)
FCF Yield = 8.51% (FCF TTM 882.0m / Enterprise Value 10.4b)
FCF Margin = 22.83% (FCF TTM 882.0m / Revenue TTM 3.86b)
Net Margin = 12.55% (Net Income TTM 485.0m / Revenue TTM 3.86b)
Gross Margin = 72.96% ((Revenue TTM 3.86b - Cost of Revenue TTM 1.04b) / Revenue TTM)
Gross Margin QoQ = 71.84% (prev 72.28%)
Tobins Q-Ratio = 2.93 (Enterprise Value 10.4b / Total Assets 3.54b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 34.0m)
Taxrate = 21.77% (135.0m / 620.0m)
NOPAT = 470.1m (EBIT 601.0m * (1 - 21.77%))
Current Ratio = 2.36 (Total Current Assets 2.09b / Total Current Liabilities 885.0m)
Debt / Equity = 0.01 (Debt 34.0m / totalStockholderEquity, last quarter 2.59b)
Debt / EBITDA = -1.08 (Net Debt -766.0m / EBITDA 708.0m)
Debt / FCF = -0.87 (Net Debt -766.0m / FCF TTM 882.0m)
Total Stockholder Equity = 2.97b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.39% (Net Income 485.0m / Total Assets 3.54b)
RoE = 16.35% (Net Income TTM 485.0m / Total Stockholder Equity 2.97b)
RoCE = 20.04% (EBIT 601.0m / Capital Employed (Equity 2.97b + L.T.Debt 32.0m))
RoIC = 19.12% (NOPAT 470.1m / Invested Capital 2.46b)
WACC = 7.09% (E(11.1b)/V(11.2b) * Re(7.11%) + D(34.0m)/V(11.2b) * Rd(0.0%) * (1-Tc(0.22)))
Discount Rate = 7.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -20.0 | Cagr: -4.16%
[DCF] Terminal Value 76.49% ; FCFF base≈854.4m ; Y1≈918.2m ; Y5≈1.11b
[DCF] Fair Price = 75.97 (EV 17.1b - Net Debt -766.0m = Equity 17.9b / Shares 235.0m; r=8.35% [WACC [floored]]; 5y FCF grow 8.49% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.77 | # QB: 0
Revenue Correlation: 99.89 | Revenue CAGR: 10.77% | SUE: 0.99 | # QB: 2
EPS current Quarter (2026-09-30): EPS=0.64 | Chg30d=+0.20% | Revisions=+31% | Analysts=24
EPS current Year (2026-12-31): EPS=2.43 | Chg30d=+0.26% | Revisions=+16% | GrowthEPS=+51.8% | GrowthRev=+12.0%
EPS next Year (2027-12-31): EPS=2.98 | Chg30d=+0.78% | Revisions=+47% | GrowthEPS=+22.5% | GrowthRev=+9.4%
[Analyst] Revisions Ratio: +47%