Instacart (Maplebear Inc.) logo CART - Instacart (Maplebear Inc.)

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 20
HOLD 5
SELL 1
STRONG
SELL 0
| PRICE TARGET: $52.30 DETAILS
HIGH: $69.00
LOW: $43.00
MEDIAN: $51.00
CONSENSUS: $52.30
UPSIDE: 26.88%
Annual Quarterly
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1
Revenue
Revenue 1,019 992 939 914 897 883 852 823 820 803 764 716 759 757 668 621 505 475 475 444 442
Cost of Revenue 287 275 247 236 226 219 211 200 206 195 203 189 177 180 183 181 176 151.5 151.5 141 152.5
Gross Profit 732 717 692 678 671 664 641 623 614 608 561 527 582 577 485 440 329 323.5 323.5 303 289.5
Operating Expenses
R&D Expenses 164 171 169 166 144 155 149 185 115 205 1,850 130 127 148 127 129 114 108.5 108.5 87 75.5
SG&A Expenses 318 377 293 323 342 282 290 317 271 286 1,023 217 238 262 268 243 225 196 196 125 141.5
Other Expenses 66 71 64 65 75 72 64 69 84 71 145 61 67 65 57 60 71 67 67 62 67.5
Operating Expenses 548 619 526 554 561 509 503 571 470 562 3,018 408 432 475 452 432 410 371.5 371.5 274 284.5
Operating Income
Operating Income 184 98 166 124 110 155 138 52 144 46 (2,457) 119 150 102 33 8 (81) (48) (48) 29 5
Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 6 12 16 15 14 12 15 17 22 24 23 20 14 10 5 2 0 0.5 0.5 0.5 0.5
Profitability
EBITDA 215 124 208 146 132 174 156 67 171 54 (2,442) 134 164 116 45 16 (75) (36) (39) 31.5 7.5
EBIT 184 98 181 123 110 155 138 52 162 46 (2,457) 119 150 102 33 9 (81) (40) (43) 29 5
Income Before Tax 188 109 181 142 124 166 153 68 165 72 (2,439) 142 164 111 33 8 (81) (41.5) (41.5) 29 5.5
Income Tax Expense 44 28 37 26 18 18 35 7 35 (63) (440) 28 36 (355) (3) 0 1 0 0 1 0.5
Net Income 144 81 144 116 106 148 118 61 130 135 (1,999) 114 128 466 36 8 (82) (41.5) (41.5) 28 5
Per Share Data
EPS (Basic) 0.59 0.31 0.54 0.43 0.40 0.56 0.45 0.22 0.49 0.48 -7.14 0.08 0.46 0.42 0.13 0.03 -1.15 -0.62 -0.62 0.44 0.08
EPS (Diluted) 0.57 0.30 0.51 0.41 0.38 0.53 0.42 0.20 0.48 0.48 -7.14 0.08 0.46 0.42 0.13 0.03 -1.15 -0.61 -0.61 0.44 0.08
Shares Outstanding 239.3 255.5 264.9 262.6 262.4 258.9 259.7 265.5 265.7 279.0 280.1 276.7 276.5 276.7 276.5 276.7 71.3 67.2 67.2 63.9 63.9
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2
Current Assets
Cash & Cash Equivalents 741 637 1,690 1,489 1,558 1,430 1,288 1,434 1,514 2,137 2,085 1,913 1,691 1,580 1,505 1,406
Short-Term Investments 59 50 39 109 72 91 20 9 20 49 56 125 168 209 209 348
Net Receivables 1,095 1,127 1,042 1,043 974 1,014 949 888 917 853 841 765 849 842 842 705
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 196 385 260 249 269 162 252 254 256 266 91 93 102 109 184 94
Total Current Assets 2,091 2,199 3,031 2,890 2,873 2,697 2,509 2,585 2,707 3,305 3,073 2,896 2,810 2,740 2,740 2,553
Non-Current Assets
Property, Plant & Equipment 247 248 249 254 231 221 215 200 181 166 141 92 80 79 79 82
Goodwill 393 393 392 392 317 317 318 318 318 318 318 318 317 317 317 263
Intangible Assets 60 71 74 82 47 52 58 64 70 77 82 88 95 103 103 60
Long-Term Investments 81 99 62 0 0 0 0 0 0 0 19 23 39 47 28 42
Other Non-Current Assets 37 13 36 40 44 57 51 58 31 31 13 18 9 12 0 30
Total Non-Current Assets 1,444 1,488 1,509 1,543 1,419 1,418 1,417 1,442 1,389 1,422 1,348 891 905 929 527 477
Total Assets 3,535 3,687 4,540 4,433 4,292 4,115 3,926 4,027 4,097 4,727 4,421 3,787 3,715 3,669 3,669 3,030
Current Liabilities
Account Payables 48 70 78 69 77 80 69 57 49 72 57 47 34 88 88 51
Short-Term Debt 2 0 0 0 0 0 0 0 0 0 13 13 13 13 0 0
Deferred Revenue 230 258 219 220 217 200 209 214 212 197 201 198 197 179 0 0
Other Current Liabilities 605 190 216 233 220 179 212 100 106 139 372 349 374 463 707 642
Total Current Liabilities 885 917 832 871 887 798 820 750 716 733 683 682 709 795 795 693
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 42
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 24 219 216 228 220 211 218 219 217 217 49 62 81 80 0 76
Total Non-Current Liabilities 56 252 250 262 229 224 234 238 240 244 79 92 114 116 0 118
Total Liabilities 941 1,169 1,082 1,133 1,116 1,022 1,054 988 956 977 762 774 823 911 911 811
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings (4,744) (4,486) (3,491) (3,568) (3,573) (3,585) (3,728) (3,484) (3,220) (2,635) (2,734) (735) (849) (977) (977) (1,479)
Accumulated Other Comprehensive Income (4) (1) (4) (1) (9) (9) 0 (2) (2) 3 (2) (2) (4) (5) 0 (5)
Total Stockholders' Equity 2,593 2,518 3,458 3,300 3,176 3,093 2,872 3,039 3,141 3,750 3,659 3,013 2,892 2,758 2,758 2,219
Total Liabilities & Equity 3,535 3,687 4,540 4,433 4,292 4,115 3,926 4,027 4,097 4,727 4,421 3,787 3,715 3,669 3,669 3,030
Debt Metrics
Total Debt 34 36 37 37 22 26 28 32 36 40 43 43 46 49 0 42
Net Debt (707) (601) (1,653) (1,452) (1,536) (1,404) (1,260) (1,402) (1,478) (2,097) (2,042) (1,870) (1,645) (1,531) (1,505) (1,364)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1
Operating Activities
Net Income 144 81 144 116 106 148 118 61 130 135 (1,999) 114 128 466 36 8 (82) (41.5) (41.5) 28 5
Depreciation & Amortization 30 27 27 23 22 19 18 15 15 13 15 15 14 14 11 11 10 7 7 5 5
Stock-Based Compensation 0 0 81 106 66 86 69 136 9 142 2,605 4 5 10 10 6 7 5 5 5 6
Change in Working Capital (36) (61) (47) (49) 96 (109) (52) 41 (99) 4 (111) 31 (89) (74) 57 42 93 (63) (63) (74.5) (74.5)
Other Non-Cash Items 92 105 15 6 10 5 4 5 9 4 13 (4) 6 6 15 1 2 32.5 32.5 (5.5) 16.5
Operating Cash Flow 268 184 287 203 298 153 185 244 105 233 111 172 70 49 129 69 30 (60) (60) (42) (42)
Investing Activities
Capital Expenditure (16) (12) (15) (16) (18) (12) (14) (23) (15) (18) (16) (13) (9) (3) (8) (9) (6) (3) (3) (3.5) (3.5)
Acquisitions 0 (1) 0 (105) 0 0 0 0 0 (5) (73) (60) 0 0 (93) (46) 0 (27) (27) 0 0
Purchases of Investments (4) (50) (86) (82) (62) (85) (25) (5) 0 (20) (10) (80) 0 0 (6) (96) (56) 0 0 0 0
Sales/Maturities of Investments 12 22 94 46 81 16 10 16 28 27 83 140 51 50 109 144 91 0 0 0 0
Other Investing Activities 0 (4) 0 0 0 0 3 0 0 5 73 60 0 0 0 46 0 (63) (63) (68.5) (68.5)
Investing Cash Flow (8) (45) (7) (157) 1 (81) (26) (13) 13 (11) 57 47 42 47 2 39 29 (93) (93) (72) (72)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased (359) (1,114) (62) (121) (89) (5) (357) (325) (715) (36) 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 28 (32) (10) (10) 39 (56) 56 20 (35) 3 (569) 0 (1) (3) (58) 3 55 (1.5) (1.5) 233.5 233.5
Financing Cash Flow (328) (1,146) (70) (129) (46) (57) (301) (305) (750) (36) 7 0 (1) 11 (58) 3 90 (1.5) (1.5) 233.5 233.5
Cash Position
Net Change in Cash (68) (1,816) 205 (77) 254 8 (140) (76) (636) 189 172 222 111 108 66 109 151 (156) (156) 120.5 120.5
Cash at Beginning 809 1,816 1,625 1,703 1,449 1,441 1,581 1,638 2,274 2,085 1,932 1,691 1,580 1,491 1,425 1,316 1,165 1,321 0 0 0
Cash at End 741 0 1,833 1,625 1,703 1,449 1,441 1,562 1,638 2,274 2,104 1,913 1,691 1,599 1,491 1,425 1,316 1,165 (156) 120.5 120.5
Free Cash Flow 252 172 272 187 280 141 171 221 90 215 95 159 61 46 121 60 24 (63) (63) (45.5) (45.5)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1
Income Statement
Revenue 1,019 992 939 914 897 883 852 823 820 803 764 716 759 757 668 621 505 475 475 444 442
Gross Profit 732 717 692 678 671 664 641 623 614 608 561 527 582 577 485 440 329 323.5 323.5 303 289.5
Operating Income 184 98 166 124 110 155 138 52 144 46 (2,457) 119 150 102 33 8 (81) (48) (48) 29 5
Net Income 144 81 144 116 106 148 118 61 130 135 (1,999) 114 128 466 36 8 (82) (41.5) (41.5) 28 5
EPS (Diluted) 0.57 0.30 0.51 0.41 0.38 0.53 0.42 0.20 0.48 0.48 -7.14 0.08 0.46 0.42 0.13 0.03 -1.15 -0.61 -0.61 0.44 0.08
Balance Sheet
Cash & Equivalents 741 637 1,690 1,489 1,558 1,430 1,288 1,434 1,514 2,137 2,085 1,913 1,691 1,580 1,505 1,406
Total Assets 3,535 3,687 4,540 4,433 4,292 4,115 3,926 4,027 4,097 4,727 4,421 3,787 3,715 3,669 3,669 3,030
Total Debt 34 36 37 37 22 26 28 32 36 40 43 43 46 49 0 42
Stockholders' Equity 2,593 2,518 3,458 3,300 3,176 3,093 2,872 3,039 3,141 3,750 3,659 3,013 2,892 2,758 2,758 2,219
Cash Flow
Operating Cash Flow 268 184 287 203 298 153 185 244 105 233 111 172 70 49 129 69 30 (60) (60) (42) (42)
Capital Expenditure (16) (12) (15) (16) (18) (12) (14) (23) (15) (18) (16) (13) (9) (3) (8) (9) (6) (3) (3) (3.5) (3.5)
Free Cash Flow 252 172 272 187 280 141 171 221 90 215 95 159 61 46 121 60 24 (63) (63) (45.5) (45.5)