Instacart (Maplebear Inc.) (CART) AI Stock Analysis

Instacart, operating as Maplebear Inc., provides online grocery shopping services across North America. Through its mobile application and website, the platform connects consumers with personal shoppers who fulfill orders for groceries, alcohol, consumer health products, pet care essentials, and ready-made meals. Founded in 2012 and based in San Francisco, California, the company operates an agile business model and logistics network to deliver household goods. Instacart partners with leading retailers to serve as a digital intermediary connecting retail stores and households across North America.

Instacart grew revenue at a 5-year CAGR of 20.4% from FY2020 to FY2025, reaching $3.74B in FY2025 with 10.8% annual growth. Gross margin reached 73.7% in FY2025, compared to 66.8% in FY2021 and 75.3% in FY2024. After a net loss of -$1.62B in FY2023 driven by $2.31B in research and development expenses, net income rebounded to $457.0M in FY2024 and stood at $447.0M in FY2025. Operating margin was 13.3% in FY2025. Over the trailing twelve months, revenue was $3.99B with a profit margin of 12.0%. For the quarter ended June 30, 2026, quarterly revenue grew 14.1% year-over-year while quarterly earnings expanded 8.1%.

As of June 30, 2026, Instacart held $850.0M in cash and short-term investments against $34.0M in total debt, yielding net cash of $816.0M. The company maintains a current ratio of 2.28 and a debt-to-equity ratio of 0.01 on $2.32B of shareholders' equity. For FY2025, operating cash flow reached $971.0M and free cash flow was $911.0M, supporting $61.0M in capital expenditures. Instacart also directed $1.39B toward share buybacks during FY2025.

Instacart trades at a trailing P/E of 27.2x, which is above the median of its US-listed Consumer Cyclical peers at 18.0x. However, its forward P/E of 13.0x is below the peer median of 14.1x. The company commands a price-to-sales ratio of 3.0x, higher than the peer median of 0.7x, and an EV-to-EBITDA multiple of 12.9x compared to the peer median of 11.1x. Over the past year, CART delivered a return of 27.8%, outpacing the S&P 500 (SPY) return of 16.8%.

Wall Street coverage consists of 13 Strong Buy, 5 Buy, and 15 Hold recommendations, with no Sell or Strong Sell ratings. The mean price target of $57.90 sits 16.2% above the last close of $49.83. For the fiscal year ending December 31, 2026, analysts estimate EPS of $2.31 on revenue of $4.26B. For the following fiscal year, 31 analysts project EPS of $2.91 on revenue of $4.71B. The company beat EPS estimates in 1 of the last 4 quarters, with next earnings scheduled for November 5, 2026.

This page is an AI-written research summary of Instacart (Maplebear Inc.) (CART). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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