Instacart (Maplebear Inc.) (CART) Financial Ratios
6 years of historical data (2020–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↑
16.55
↓-15% vs avg
5yr avg: 19.54
30Y Low19.0·High20.1
P/FCF
↑
11.50
↓-11% vs avg
5yr avg: 12.94
30Y Low5.8·High19.2
P/B Ratio
↑
4.92
↑+52% vs avg
5yr avg: 3.23
30Y Low0.8·High5.0
ROE
↑
15.9%
↓+1195% vs avg
5yr avg: -1.5%
30Y Low-50%·High17%
Debt/EBITDA
↓
0.06
↓-67% vs avg
5yr avg: 0.19
30Y Low0.0·High0.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CART Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Instacart (Maplebear Inc.) trades at 27.7x earnings, roughly in line with its 5-year average of 27.2x, sitting at the 50th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 20.8x, the stock trades at a premium of 33%. On a free-cash-flow basis, the stock trades at 11.5x P/FCF, 11% below the 5-year average of 12.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $10.5B | $12.6B | $12.0B | $3.1B | — | — | — |
| Enterprise Value | $9.9B | $12.0B | $10.6B | $969M | — | — | — |
| P/E Ratio → | 27.67 | 28.11 | 26.22 | — | — | — | — |
| P/S Ratio | 2.80 | 3.36 | 3.55 | 1.01 | — | — | — |
| P/B Ratio | 4.92 | 4.99 | 3.87 | 0.82 | — | — | — |
| P/FCF | 11.50 | 13.81 | 19.22 | 5.78 | — | — | — |
| P/OCF | 10.78 | 12.94 | 17.43 | 5.23 | — | — | — |
P/E links to full P/E history page with 30-year chart
CART EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Instacart (Maplebear Inc.)'s enterprise value stands at 16.5x EBITDA, 15% below its 5-year average of 19.5x. The Consumer Cyclical sector median is 12.1x, placing the stock at a 37% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.20 | 3.13 | 0.32 | — | — | — |
| EV / EBITDA | 16.55 | 20.06 | 19.02 | — | — | — | — |
| EV / EBIT | 19.84 | 24.05 | 21.62 | — | — | — | — |
| EV / FCF | — | 13.15 | 16.97 | 1.83 | — | — | — |
CART Profitability
Margins and return-on-capital ratios measuring operating efficiency
Instacart (Maplebear Inc.) earns an operating margin of 13.3%, above the Consumer Cyclical sector average of 2.0%. Operating margins have expanded from -70.4% to 13.3% over the past 3 years, signaling improving operational efficiency. ROE of 15.9% indicates solid capital efficiency, compared to the sector median of 5.3%. ROIC of 20.7% represents excellent returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 73.7% | 73.7% | 75.3% | 74.9% | 71.8% | 66.8% | 59.5% |
| Operating Margin | 13.3% | 13.3% | 14.5% | -70.4% | 2.4% | -4.7% | -5.1% |
| Net Profit Margin | 11.9% | 11.9% | 13.5% | -53.3% | 16.8% | -4.0% | -4.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 15.9% | 15.9% | 13.4% | -49.8% | 17.1% | -3.8% | -4.4% |
| ROA | 11.5% | 11.5% | 10.3% | -38.6% | 12.9% | -2.9% | -3.3% |
| ROIC | 20.7% | 20.7% | 21.9% | -111.6% | 3.9% | -8.2% | — |
| ROCE | 16.4% | 16.4% | 13.4% | -62.4% | 2.4% | -4.2% | -4.4% |
CART Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Instacart (Maplebear Inc.) carries a Debt/EBITDA ratio of 0.1x, which is very conservative (99% below the sector average of 4.8x). The company holds a net cash position — cash of $637M exceeds total debt of $36M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 |
| Debt / EBITDA | 0.06 | 0.06 | 0.05 | — | 0.45 | — | — |
| Net Debt / Equity | — | -0.24 | -0.45 | -0.56 | -0.56 | -0.49 | -0.74 |
| Net Debt / EBITDA | -1.01 | -1.01 | -2.53 | — | -14.05 | — | — |
| Debt / FCF | — | -0.66 | -2.25 | -3.96 | -6.10 | — | — |
| Interest Coverage | — | — | — | — | — | — | — |
Net cash position: cash ($637M) exceeds total debt ($36M)
CART Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Instacart (Maplebear Inc.)'s current ratio of 2.40x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 4.51x to 2.40x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.40 | 2.40 | 3.38 | 4.51 | 3.45 | 4.05 | 4.85 |
| Quick Ratio | 2.40 | 2.40 | 3.38 | 4.51 | 3.45 | 4.05 | 4.85 |
| Cash Ratio | 0.75 | 0.75 | 1.91 | 2.98 | 2.25 | 2.53 | 3.50 |
| Asset Turnover | — | 1.01 | 0.82 | 0.64 | 0.70 | 0.62 | 0.70 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 109.93 | 109.56 | 102.35 | 120.47 | 165.58 | 128.50 |
CART Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Instacart (Maplebear Inc.) returns 13.2% to shareholders annually primarily through share buybacks. The earnings yield of 3.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 3.6% | 3.8% | — | — | — | — |
| FCF Yield | 8.7% | 7.2% | 5.2% | 17.3% | — | — | — |
| Buyback Yield | 13.2% | 11.0% | 11.7% | 1.2% | — | — | — |
| Total Shareholder Yield | 13.2% | 11.0% | 11.7% | 1.2% | — | — | — |
| Shares Outstanding | — | $280M | $289M | $131M | $277M | $277M | $277M |
Peer Comparison
Compare CART with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CARTYou | $10B | 27.7 | 16.5 | 11.5 | 73.7% | 13.3% | 15.9% | 20.7% | 0.1 |
 DASH | $75B | 80.8 | 50.6 | 34.5 | 50.9% | 5.3% | 10.5% | 7.9% | 2.6 |
 UBER | $148B | 15.1 | 24.3 | 15.2 | 39.8% | 10.7% | 39.8% | 13.6% | 2.1 |
 AMZN | $2.5T | 32.5 | 17.6 | 325.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 WMT | $934B | 42.9 | 22.5 | 62.6 | 24.9% | 4.2% | 21.5% | 14.4% | 1.5 |
 KR | $34B | 36.2 | 9.6 | 10.3 | 23.3% | 1.3% | 14.3% | 5.0% | 4.2 |
 FRSH | $2B | 14.2 | 26.7 | 10.1 | 85.0% | 1.6% | 16.9% | 2.0% | 0.9 |
 GOOGL | $4.2T | 32.3 | 28.3 | 57.7 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
 TTD | $8B | 19.8 | 11.7 | 10.6 | 78.6% | 20.3% | 16.3% | 21.3% | 0.6 |
 CELH | $7B | 116.5 | 15.5 | 23.0 | 50.4% | 18.6% | 5.2% | 19.7% | 1.3 |
 SYY | $37B | 20.9 | 12.2 | 21.0 | 18.4% | 3.8% | 97.5% | 15.7% | 3.5 |
| Consumer Cyclical Median | — | 20.8 | 12.1 | 15.5 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 6 years · Updated daily
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CART — Frequently Asked Questions
Quick answers to the most common questions about buying CART stock.
What is Instacart (Maplebear Inc.)'s P/E ratio?
Instacart (Maplebear Inc.)'s current P/E ratio is 27.7x. The historical average is 27.2x. This places it at the 50th percentile of its historical range.
What is Instacart (Maplebear Inc.)'s EV/EBITDA?
Instacart (Maplebear Inc.)'s current EV/EBITDA is 16.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.5x.
What is Instacart (Maplebear Inc.)'s ROE?
Instacart (Maplebear Inc.)'s return on equity (ROE) is 15.9%. The historical average is -2.0%.
Is CART stock overvalued?
Based on historical data, Instacart (Maplebear Inc.) is trading at a P/E of 27.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Instacart (Maplebear Inc.)'s profit margins?
Instacart (Maplebear Inc.) has 73.7% gross margin and 13.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Instacart (Maplebear Inc.) have?
Instacart (Maplebear Inc.)'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.