Income Statement Instacart (Maplebear)

Equities

CART

US5653941030

Internet Services

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-11 pm EDT			5-day change	1st Jan Change
36.88 ^USD	-2.90%		-1.21%	-18.01%

Mar. 05	US House committee wants travel companies to disclose AI use for pricing	RE
Mar. 05	Kroger keeps forecasts soft as new CEO bets on growth by keeping prices down	RE

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Published financial data: INSTACART (MAPLEBEAR)

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.83B	2.55B	3.04B	3.38B	3.74B
Total Revenues	1.83B	2.55B	3.04B	3.38B	3.74B
Cost of Goods Sold, Total	608M	720M	764M	836M	984M
Gross Profit	1.23B	1.83B	2.28B	2.54B	2.76B
Selling General & Admin Expenses, Total	944M	1.25B	2.1B	1.43B	1.6B
R&D Expenses	368M	517M	2.3B	580M	638M
Other Operating Expenses	-	-	24M	24M	23M
Other Operating Expenses, Total	1.31B	1.76B	4.42B	2.03B	2.26B
Operating Income	-86M	66M	-2.15B	509M	500M
Interest And Investment Income	2M	17M	81M	66M	57M
Net Interest Expenses	2M	17M	81M	66M	57M
Currency Exchange Gains (Loss)	-	-8M	-	-3M	1M
Other Non Operating Income (Expenses)	1M	-	-	-	-
EBT, Excl. Unusual Items	-83M	75M	-2.06B	572M	558M
Restructuring Charges	-	-	-	-18M	-
Merger & Related Restructuring Charges	-	-4M	4M	-2M	-2M
Legal Settlements	11M	-	-	-	-
EBT, Incl. Unusual Items	-72M	71M	-2.06B	552M	556M
Income Tax Expense	1M	-357M	-439M	95M	109M
Earnings From Continuing Operations	-73M	428M	-1.62B	457M	447M
Net Income to Company	-73M	428M	-1.62B	457M	447M
Net Income - (IS)	-73M	428M	-1.62B	457M	447M
Preferred Dividend and Other Adjustments	-	351M	2M	9M	9M
Net Income to Common Incl Extra Items	-73M	77M	-1.62B	448M	438M
Net Income to Common Excl. Extra Items	-73M	77M	-1.62B	448M	438M
Per Share Items
Net EPS - Basic	-1.11	1.07	-12.43	1.69	1.68
Basic EPS - Continuing Operations	-1.11	1.07	-12.43	1.69	1.68
Basic Weighted Average Shares Outstanding	65.87M	71.85M	131M	265M	261M
Net EPS - Diluted	-1.11	0.96	-12.43	1.58	1.6
Diluted EPS - Continuing Operations	-1.11	0.96	-12.43	1.58	1.6
Diluted Weighted Average Shares Outstanding	65.87M	101M	131M	289M	280M
Normalized Basic EPS	-0.79	0.65	-9.88	1.35	1.33
Normalized Diluted EPS	-0.79	0.46	-9.88	1.24	1.25
Supplemental Items
EBITDA	-73M	96M	-2.11B	543M	531M
EBITA	-79M	87M	-2.12B	535M	525M
EBIT	-86M	66M	-2.15B	509M	500M
EBITDAR	-59M	111M	-2.09B	560M	543M
Effective Tax Rate - (Ratio)	-1.39	-502.82	21.3	17.21	19.6
Current Domestic Taxes	1M	15M	17M	30M	9M
Current Foreign Taxes	2M	1M	3M	6M	1M
Total Current Taxes	3M	16M	20M	36M	10M
Deferred Domestic Taxes	-2M	-373M	-459M	59M	98M
Deferred Foreign Taxes	-	-	-	-	1M
Total Deferred Taxes	-2M	-373M	-459M	59M	99M
Normalized Net Income	-51.88M	46.88M	-1.29B	358M	349M
Supplemental Operating Expense Items
Advertising Expense	-	426M	388M	457M	485M
Selling and Marketing Expenses	394M	662M	963M	801M	851M
General and Administrative Expenses	288M	334M	797M	354M	473M
Research And Development Expense From Footnotes	368M	518M	2.31B	604M	650M
Net Rental Expense, Total	14M	15M	19M	17M	12M
Stock-Based Comp., COGS (Total)	-	-	18M	8M	9M
Stock-Based Comp., R&D Exp. (Total)	9M	18M	1.8B	144M	204M
Stock-Based Comp., S&M Exp. (Total)	3M	4M	316M	62M	59M
Stock-Based Comp., G&A Exp. (Total)	9M	11M	532M	73M	66M
Stock-Based Comp., SG&A Exp. (Total)	1M	-	90M	13M	14M
Total Stock-Based Compensation	22M	33M	2.76B	300M	352M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.15B	1.5B	2.14B	1.28B	637M
Short Term Investments	348M	209M	49M	91M	50M
Total Cash And Short Term Investments	1.49B	1.71B	2.19B	1.37B	687M
Accounts Receivable, Total	832M	842M	853M	1.01B	1.13B
Total Receivables	832M	842M	853M	1.01B	1.13B
Prepaid Expenses	68M	109M	129M	162M	213M
Restricted Cash	1M	75M	137M	152M	172M
Total Current Assets	2.4B	2.74B	3.3B	2.7B	2.2B
Gross Property Plant And Equipment	98M	116M	216M	295M	375M
Accumulated Depreciation	-25M	-37M	-50M	-74M	-127M
Net Property Plant And Equipment	73M	79M	166M	221M	248M
Long-term Investments	128M	28M	-	-	81M
Goodwill	263M	317M	318M	317M	393M
Other Intangibles, Total	68M	103M	77M	52M	71M
Deferred Tax Assets Long-Term	-	371M	830M	771M	664M
Other Long-Term Assets, Total	34M	31M	31M	57M	31M
Total Assets	2.96B	3.67B	4.73B	4.12B	3.69B
Liabilities
Accounts Payable, Total	60M	88M	72M	80M	70M
Accrued Expenses, Total	224M	265M	291M	350M	338M
Current Portion of Leases	11M	13M	13M	13M	3M
Current Income Taxes Payable	-	17M	-	-	-
Unearned Revenue Current, Total	148M	179M	197M	200M	211M
Other Current Liabilities	149M	233M	160M	155M	295M
Total Current Liabilities	592M	795M	733M	798M	917M
Long-Term Leases	43M	36M	27M	13M	33M
Other Non Current Liabilities	77M	80M	40M	25M	23M
Total Liabilities	712M	911M	800M	836M	973M
Preferred Stock Convertible	2.82B	2.82B	177M	186M	196M
Total Preferred Equity	2.82B	2.82B	177M	186M	196M
Additional Paid In Capital	833M	918M	6.38B	6.69B	7B
Retained Earnings	-1.4B	-977M	-2.64B	-3.58B	-4.49B
Comprehensive Income and Other	-1M	-5M	3M	-9M	-1M
Total Common Equity	-573M	-64M	3.75B	3.09B	2.52B
Total Equity	2.25B	2.76B	3.93B	3.28B	2.71B
Total Liabilities And Equity	2.96B	3.67B	4.73B	4.12B	3.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	68.84M	71.4M	266M	265M	241M
ECS Total Common Shares Outstanding	68.84M	71.4M	279M	261M	243M
Book Value / Share	-8.32	-0.9	13.44	11.85	10.37
Tangible Book Value	-904M	-484M	3.36B	2.72B	2.05B
Tangible Book Value Per Share	-13.13	-6.78	12.02	10.44	8.46
Total Debt	54M	49M	40M	26M	36M
Net Debt	-1.57B	-1.69B	-2.15B	-1.34B	-732M
Debt Equivalent Oper. Leases	112M	120M	152M	136M	96M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	18M	28M	28M	26M	23M
Full Time Employees	3.48K	-	3.38K	3.26K	3.6K
Accumulated Allowance for Doubtful Accounts (Supple)	2M	2M	4M	4M	3M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-73M	428M	-1.62B	457M	447M
Depreciation & Amortization - CF	17M	22M	25M	19M	14M
Amortization of Goodwill and Intangible Assets - (CF)	7M	21M	27M	26M	25M
Depreciation & Amortization, Total	24M	43M	52M	45M	39M
Amortization of Deferred Charges, Total - (CF)	3M	4M	5M	22M	60M
Asset Writedown & Restructuring Costs	-	-	-	-	24M
Stock-Based Compensation (CF)	22M	33M	2.76B	300M	352M
Provision and Write-off of Bad Debts	7M	10M	23M	19M	15M
Other Operating Activities, Total	5M	-365M	-463M	63M	95M
Change In Accounts Receivable	-318M	-21M	-33M	-185M	-121M
Change In Accounts Payable	36M	25M	-16M	8M	-11M
Change in Unearned Revenues	47M	24M	18M	4M	10M
Change in Other Net Operating Assets	43M	96M	-134M	-46M	61M
Cash from Operations	-204M	277M	586M	687M	971M
Capital Expenditure	-13M	-24M	-54M	-64M	-61M
Cash Acquisitions	-54M	-93M	-	-	-106M
Sale (Purchase) of Intangible assets	-9M	-2M	-2M	-	-
Investment in Marketable and Equity Securities, Total	-254M	236M	191M	-40M	-37M
Other Investing Activities, Total	-	-	-	-3M	-4M
Cash from Investing	-330M	117M	135M	-107M	-208M
Short Term Debt Issued, Total	-	-	-	10M	12M
Total Debt Issued	-	-	-	10M	12M
Issuance of Common Stock	199M	35M	407M	80M	8M
Repurchase of Common Stock	-	-	-606M	-1.5B	-1.41B
Issuance of Preferred Stock	265M	-	175M	-	-
Other Financing Activities, Total	-	11M	-6M	-	-1M
Cash from Financing	464M	46M	-30M	-1.41B	-1.39B
Foreign Exchange Rate Adjustments	-1M	-6M	3M	-11M	4M
Miscellaneous Cash Flow Adjustments	-	-	-	-	1M
Net Change in Cash	-71M	434M	694M	-844M	-623M
Supplemental Items
Cash Income Tax Paid (Refund)	4M	3M	54M	13M	43M
Levered Free Cash Flow	-196M	171M	1.26B	477M	648M
Unlevered Free Cash Flow	-196M	171M	1.26B	477M	648M
Change In Net Working Capital	169M	-76M	155M	144M	55M
Net Debt Issued / Repaid	-	-	-	10M	12M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-2.13	1.24	-31.95	7.2	8.01
Return on Total Capital	-2.73	1.61	-39.6	8.75	10.32
Return On Equity %	-3.82	17.1	-48.53	12.68	14.92
Return on Common Equity	9.4	-24.18	-88.12	13.09	15.61
Margin Analysis
Gross Profit Margin %	66.85	71.78	74.88	75.25	73.7
SG&A Margin	51.47	48.92	69.1	42.3	42.68
EBITDA Margin %	-3.98	3.76	-69.3	16.07	14.19
EBITA Margin %	-4.31	3.41	-69.66	15.84	14.03
EBIT Margin %	-4.69	2.59	-70.55	15.07	13.36
Income From Continuing Operations Margin %	-3.98	16.78	-53.32	13.53	11.95
Net Income Margin %	-3.98	16.78	-53.32	13.53	11.95
Net Avail. For Common Margin %	-3.98	3.02	-53.39	13.26	11.7
Normalized Net Income Margin	-2.83	1.84	-42.43	10.58	9.32
Levered Free Cash Flow Margin	-10.67	6.71	41.44	14.12	17.3
Unlevered Free Cash Flow Margin	-10.67	6.71	41.44	14.12	17.3
Asset Turnover
Asset Turnover	0.73	0.77	0.72	0.76	0.96
Fixed Assets Turnover	25.12	33.57	24.83	17.46	15.96
Receivables Turnover (Average Receivables)	2.71	3.05	3.59	3.62	3.5
Short Term Liquidity
Current Ratio	4.05	3.45	4.51	3.38	2.4
Quick Ratio	3.93	3.22	4.15	2.99	1.98
Operating Cash Flow to Current Liabilities	-0.34	0.35	0.8	0.86	1.06
Days Sales Outstanding (Average Receivables)	134.54	119.76	101.69	101.14	104.42
Average Days Payable Outstanding	24.91	37.51	38.22	33.27	27.82
Long Term Solvency
Total Debt/Equity	2.4	1.78	1.02	0.79	1.33
Total Debt / Total Capital	2.34	1.75	1.01	0.79	1.31
LT Debt/Equity	1.91	1.31	0.69	0.4	1.22
Long-Term Debt / Total Capital	1.87	1.28	0.68	0.39	1.2
Total Liabilities / Total Assets	24.05	24.83	16.92	20.32	26.39
Total Debt / EBITDA	-0.92	0.44	-0.02	0.05	0.07
Net Debt / EBITDA	26.58	-15.25	1.03	-2.4	-1.35
Total Debt / (EBITDA - Capex)	-0.75	0.56	-0.02	0.05	0.07
Net Debt / (EBITDA - Capex)	21.78	-19.46	1	-2.71	-1.52
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.17	39.09	19.25	11.05	10.78
Gross Profit, 1 Yr. Growth %	39.48	49.35	24.41	11.59	8.5
EBITDA, 1 Yr. Growth %	7.35	-252.38	-2.3K	-125.76	-2.21
EBITA, 1 Yr. Growth %	8.22	-226.09	-2.54K	-125.25	-1.87
EBIT, 1 Yr. Growth %	14.67	-186.84	-3.35K	-123.72	-1.77
Earnings From Cont. Operations, 1 Yr. Growth %	4.29	-686.3	-478.97	-128.18	-2.19
Net Income, 1 Yr. Growth %	4.29	-686.3	-478.97	-128.18	-2.19
Normalized Net Income, 1 Yr. Growth %	18.57	-202.74	-2.85K	-127.7	-2.45
Diluted EPS Before Extra, 1 Yr. Growth %	-8.29	-185.34	-1.4K	-112.71	1.15
Accounts Receivable, 1 Yr. Growth %	60	1.2	1.31	18.87	11.14
Net Property, Plant and Equip., 1 Yr. Growth %	0	8.22	110.13	33.13	12.22
Total Assets, 1 Yr. Growth %	41.27	23.91	28.84	-12.95	-10.4
Tangible Book Value, 1 Yr. Growth %	-9.51	-46.46	-793.18	-18.81	-24.6
Common Equity, 1 Yr. Growth %	-41.59	-88.83	-5.96K	-17.52	-18.59
Cash From Operations, 1 Yr. Growth %	124.18	-235.78	111.55	17.24	41.34
Capital Expenditures, 1 Yr. Growth %	85.71	84.62	125	18.52	-4.69
Levered Free Cash Flow, 1 Yr. Growth %	-	-190.37	636.2	-62.22	35.71
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-190.37	636.2	-62.22	35.71
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	192.75	31.42	28.79	15.07	10.91
Gross Profit, 2 Yr. CAGR %	725.29	44.33	36.31	17.83	10.03
EBITDA, 2 Yr. CAGR %	-63.6	19.7	492.73	137.83	-49.81
EBITA, 2 Yr. CAGR %	-62.24	9.92	466.62	147.98	-50.22
EBIT, 2 Yr. CAGR %	-60.67	-5.56	442.19	177.71	-51.73
Earnings From Cont. Operations, 2 Yr. CAGR %	-62.92	147.27	371.37	3.33	-47.5
Net Income, 2 Yr. CAGR %	-62.92	147.27	371.37	3.33	-47.5
Normalized Net Income, 2 Yr. CAGR %	-60.46	4.26	443.14	176.16	-48.02
Diluted EPS Before Extra, 2 Yr. CAGR %	-66.21	-11.12	233.19	28.59	-64.14
Accounts Receivable, 2 Yr. CAGR %	-	27.25	1.25	9.74	14.94
Net Property, Plant and Equip., 2 Yr. CAGR %	-	4.03	50.8	67.26	22.23
Total Assets, 2 Yr. CAGR %	-	32.31	26.35	5.9	-11.68
Tangible Book Value, 2 Yr. CAGR %	-	-30.4	92.65	137.24	-21.76
Common Equity, 2 Yr. CAGR %	-	-74.46	155.82	595.18	-18.06
Cash From Operations, 2 Yr. CAGR %	-35.54	74.47	69.49	57.48	28.72
Capital Expenditures, 2 Yr. CAGR %	-9.86	85.16	103.81	63.3	6.28
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	159.22	65.95	-28.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	159.22	65.95	-28.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	128.44	27.23	22.58	13.62
Gross Profit, 3 Yr. CAGR %	-	366.81	37.36	27.52	14.63
EBITDA, 3 Yr. CAGR %	-	-44.15	215.69	108.39	76.85
EBITA, 3 Yr. CAGR %	-	-46.05	208.74	100.88	82.06
EBIT, 3 Yr. CAGR %	-	-50.85	207.23	91.04	96.4
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-6.94	185.09	84.3	1.46
Net Income, 3 Yr. CAGR %	-	-6.94	185.09	84.3	1.46
Normalized Net Income, 3 Yr. CAGR %	-	-47.92	210.47	101.42	95.22
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-53.82	117.4	12.16	18.7
Accounts Receivable, 3 Yr. CAGR %	-	-	17.94	6.82	10.21
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	31.5	44.66	46.42
Total Assets, 3 Yr. CAGR %	-	-	31.14	11.59	0.16
Tangible Book Value, 3 Yr. CAGR %	-	-	49.75	44.44	61.9
Common Equity, 3 Yr. CAGR %	-	-	56.36	75.42	240.11
Cash From Operations, 3 Yr. CAGR %	-	-17.37	86.05	49.89	51.91
Capital Expenditures, 3 Yr. CAGR %	-	14.47	97.59	70.12	36.47
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	36.49	55.19
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	36.49	55.19
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	73.64	20.43
Gross Profit, 5 Yr. CAGR %	-	-	-	169.14	25.7
EBITDA, 5 Yr. CAGR %	-	-	-	-0.29	51.29
EBITA, 5 Yr. CAGR %	-	-	-	-0.7	48.79
EBIT, 5 Yr. CAGR %	-	-	-	-1.75	46.54
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-2.96	44.89
Net Income, 5 Yr. CAGR %	-	-	-	-2.96	44.89
Normalized Net Income, 5 Yr. CAGR %	-	-	-	1.5	51.9
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-30.44	5.73
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	16.73
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	27.71
Total Assets, 5 Yr. CAGR %	-	-	-	-	11.96
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	15.51
Common Equity, 5 Yr. CAGR %	-	-	-	-	20.75
Cash From Operations, 5 Yr. CAGR %	-	-	-	6.95	60.56
Capital Expenditures, 5 Yr. CAGR %	-	-	-	31.95	54.19