Comprehensive Stock Comparison
Compare Instacart (Maplebear Inc.) (CART) vs Casey's General Stores, Inc. (CASY) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CART | 11.0% revenue growth vs CASY's 7.3% |
| Value | CART | Lower P/E (15.7x vs 39.5x) |
| Quality / Margins | CART | 14.1% net margin vs CASY's 3.6% |
| Stability / Safety | CASY | Beta 0.43 vs CART's 0.66 |
| Dividends | CASY | 0.3% yield; 19-year raise streak; CART pays no meaningful dividend |
| Momentum (1Y) | CASY | +66.1% vs CART's -8.7% |
| Efficiency (ROA) | CART | 11.3% ROA vs CASY's 7.1%, ROIC 21.9% vs 11.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Instacart operates a digital marketplace that connects consumers with personal shoppers for same-day grocery delivery and pickup from retail partners. It generates revenue primarily through service fees, delivery charges, and advertising from consumer packaged goods brands — with its advertising business becoming an increasingly significant profit driver. The company's competitive advantage lies in its extensive retail partnerships — including exclusive deals with major grocery chains — and its first-mover scale in the North American online grocery delivery space.
Casey's General Stores operates a large chain of convenience stores primarily in rural and suburban communities across the Midwest. It generates revenue through fuel sales — which typically contribute around 70% of total revenue — and in-store merchandise including prepared foods, groceries, and beverages. The company's competitive advantage lies in its strategic rural locations with limited competition and strong brand loyalty built on its popular prepared food offerings — especially its pizza.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CART leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). CASY leads in 2 (Total Returns, Risk & Volatility).
Financial Metrics (TTM)
CASY is the larger business by revenue, generating $17.0B annually — 4.7x CART's $3.6B. CART is the more profitable business, keeping 14.1% of every revenue dollar as net income compared to CASY's 3.6%. On growth, CASY holds the edge at +14.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| RevenueTrailing 12 months | $3.6B | $17.0B |
| EBITDAEarnings before interest/tax | $646M | $1.3B |
| Net IncomeAfter-tax profit | $514M | $607M |
| Free Cash FlowCash after capex | $880M | $682M |
| Gross MarginGross profit ÷ Revenue | +74.5% | +23.4% |
| Operating MarginEBIT ÷ Revenue | +15.3% | +5.3% |
| Net MarginNet income ÷ Revenue | +14.1% | +3.6% |
| FCF MarginFCF ÷ Revenue | +24.2% | +4.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.2% | +14.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +21.4% | +14.0% |
Valuation Metrics
At 23.7x trailing earnings, CART trades at a 49% valuation discount to CASY's 46.8x P/E. On an enterprise value basis, CART's 15.4x EV/EBITDA is more attractive than CASY's 23.4x.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| Market CapShares × price | $10.0B | $25.4B |
| Enterprise ValueMkt cap + debt − cash | $8.6B | $28.0B |
| Trailing P/EPrice ÷ TTM EPS | 23.74x | 46.83x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.70x | 39.47x |
| PEG RatioP/E ÷ EPS growth rate | — | 3.01x |
| EV / EBITDAEnterprise value multiple | 15.39x | 23.37x |
| Price / SalesMarket cap ÷ Revenue | 2.95x | 1.59x |
| Price / BookPrice ÷ Book value/share | 3.51x | 7.30x |
| Price / FCFMarket cap ÷ FCF | 15.99x | 43.47x |
Profitability & Efficiency
CASY delivers a 15.9% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $14 for CART. CART carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to CASY's 0.84x. On the Piotroski fundamental quality scale (0–9), CART scores 7/9 vs CASY's 6/9, reflecting strong financial health.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| ROE (TTM)Return on equity | +14.1% | +15.9% |
| ROA (TTM)Return on assets | +11.3% | +7.1% |
| ROICReturn on invested capital | +21.9% | +11.3% |
| ROCEReturn on capital employed | +13.4% | +12.5% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | 0.01x | 0.84x |
| Net DebtTotal debt minus cash | -$1.4B | $2.6B |
| Cash & Equiv.Liquid assets | $1.4B | $327M |
| Total DebtShort + long-term debt | $26M | $3.0B |
| Interest CoverageEBIT ÷ Interest expense | — | 8.24x |
Total Returns (with DRIP)
A $10,000 investment in CASY five years ago would be worth $34,197 today (with dividends reinvested), compared to $11,131 for CART. Over the past 12 months, CASY leads with a +66.1% total return vs CART's -8.7%. The 3-year compound annual growth rate (CAGR) favors CASY at 49.3% vs CART's 3.6% — a key indicator of consistent wealth creation.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| YTD ReturnYear-to-date | -14.6% | +23.4% |
| 1-Year ReturnPast 12 months | -8.7% | +66.1% |
| 3-Year ReturnCumulative with dividends | +11.3% | +232.5% |
| 5-Year ReturnCumulative with dividends | +11.3% | +242.0% |
| 10-Year ReturnCumulative with dividends | +11.3% | +563.0% |
| CAGR (3Y)Annualised 3-year return | +3.6% | +49.3% |
Risk & Volatility
CASY is the less volatile stock with a 0.43 beta — it tends to amplify market swings less than CART's 0.66 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CASY currently trades 99.4% from its 52-week high vs CART's 70.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.66x | 0.43x |
| 52-Week HighHighest price in past year | $53.50 | $690.00 |
| 52-Week LowLowest price in past year | $32.73 | $372.09 |
| % of 52W HighCurrent price vs 52-week peak | +70.1% | +99.4% |
| RSI (14)Momentum oscillator 0–100 | 55.9 | 70.0 |
| Avg Volume (50D)Average daily shares traded | 4.5M | 269K |
Analyst Outlook
Wall Street rates CART as "Buy" and CASY as "Buy". Consensus price targets imply 26.7% upside for CART (target: $48) vs -8.0% for CASY (target: $631). CASY is the only dividend payer here at 0.28% yield — a key consideration for income-focused portfolios.
| Metric | CARTInstacart (Mapleb… | CASYCasey's General S… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $47.54 | $630.91 |
| # AnalystsCovering analysts | 26 | 24 |
| Dividend YieldAnnual dividend ÷ price | — | +0.3% |
| Dividend StreakConsecutive years of raises | — | 19 |
| Dividend / ShareAnnual DPS | — | $1.94 |
| Buyback YieldShare repurchases ÷ mkt cap | +14.1% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Sep 23 | Feb 26 | Change |
|---|---|---|---|
| Instacart (Maplebea… (CART) | 100 | 112.18 | +12.2% |
| Casey's General Sto… (CASY) | 100 | 230.26 | +130.3% |
Casey's General Sto… (CASY) returned +242% over 5 years vs Instacart (Maplebea… (CART)'s +11%. A $10,000 investment in CASY 5 years ago would be worth $34,197 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Instacart (Maplebea… (CART) | $1.5B | $3.4B | +128.7% |
| Casey's General Sto… (CASY) | $7.1B | $15.9B | +123.8% |
Casey's General Stores, Inc.'s revenue grew from $7.1B (2016) to $15.9B (2025) — a 9.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Instacart (Maplebea… (CART) | -4.7% | 13.5% | +385.5% |
| Casey's General Sto… (CASY) | 3.2% | 3.4% | +8.0% |
Casey's General Stores, Inc.'s net margin went from 3% (2016) to 3% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Casey's General Sto… (CASY) | 25 | 37.8 | +51.2% |
Casey's General Stores, Inc. has traded in a 15x–38x P/E range over 9 years; current trailing P/E is ~47x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Instacart (Maplebea… (CART) | -0.25 | 1.58 | +732.0% |
| Casey's General Sto… (CASY) | 5.73 | 14.64 | +155.5% |
Casey's General Stores, Inc.'s EPS grew from $5.73 (2016) to $14.64 (2025) — a 11% CAGR.
Chart 6Free Cash Flow — 5 Years
Instacart (Maplebear Inc.) generated $623M FCF in 2024 (+376% vs 2021). Casey's General Stores, Inc. generated $585M FCF in 2025 (+61% vs 2021).
CART vs CASY: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is CART or CASY a better buy right now?
Instacart (Maplebear Inc.) (CART) offers the better valuation at 23.7x trailing P/E (15.7x forward), making it the more compelling value choice. Analysts rate Instacart (Maplebear Inc.) (CART) a "Buy" — based on 26 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CART or CASY?
On trailing P/E, Instacart (Maplebear Inc.) (CART) is the cheapest at 23.7x versus Casey's General Stores, Inc. at 46.8x. On forward P/E, Instacart (Maplebear Inc.) is actually cheaper at 15.7x.
03Which is the better long-term investment — CART or CASY?
Over the past 5 years, Casey's General Stores, Inc. (CASY) delivered a total return of +242.0%, compared to +11.3% for Instacart (Maplebear Inc.) (CART). A $10,000 investment in CASY five years ago would be worth approximately $34K today (assuming dividends reinvested). Over 10 years, the gap is even starker: CASY returned +563.0% versus CART's +11.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CART or CASY?
By beta (market sensitivity over 5 years), Casey's General Stores, Inc. (CASY) is the lower-risk stock at 0.43β versus Instacart (Maplebear Inc.)'s 0.66β — meaning CART is approximately 54% more volatile than CASY relative to the S&P 500. On balance sheet safety, Instacart (Maplebear Inc.) (CART) carries a lower debt/equity ratio of 1% versus 84% for Casey's General Stores, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — CART or CASY?
Instacart (Maplebear Inc.) (CART) is the more profitable company, earning 13.5% net margin versus 3.4% for Casey's General Stores, Inc. — meaning it keeps 13.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CART leads at 14.5% versus 5.0% for CASY. At the gross margin level — before operating expenses — CART leads at 75.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CART or CASY more undervalued right now?
On forward earnings alone, Instacart (Maplebear Inc.) (CART) trades at 15.7x forward P/E versus 39.5x for Casey's General Stores, Inc. — 23.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CART: 26.7% to $47.54.
07Which pays a better dividend — CART or CASY?
In this comparison, CASY (0.3% yield) pays a dividend. CART does not pay a meaningful dividend and should not be held primarily for income.
08Is CART or CASY better for a retirement portfolio?
For long-horizon retirement investors, Casey's General Stores, Inc. (CASY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.43), +563.0% 10Y return). Both have compounded well over 10 years (CASY: +563.0%, CART: +11.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CART and CASY?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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