Instacart (Maplebear Inc.) (CART) Stock

Instacart (Maplebear Inc.) (CART) is a Technology stock trading at $49.81 (as of 2026-08-21), with a market capitalization of $11.53B and a trailing P/E of 21.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Maplebear Inc., doing business as Instacart, offers online grocery shopping services in North America. It connects households with personal shoppers to purchase and have products such as food, alcohol, consumer health, pet care, ready-made meals, and other items delivered via a mobile application or website.

Understand Instacart (Maplebear Inc.): how it makes money

Instacart (Maplebear) provides online grocery shopping and delivery, connecting households with personal shoppers through a mobile app or website, and it makes money from transaction-related revenue tied to purchases plus advertising and other platform revenue.

Instacart’s profit model scales with how much consumers buy through the platform, since Transaction Revenue is driven by Gross Transaction Value, and it adds a second revenue stream by monetizing retailers and brands through Advertising and Other Revenue.

Revenue by segment (latest quarter)
Transaction	$0.7B
Ads&Other	$0.3B

Business quality (Solid): For retail investors, the key is understanding how purchase volume (Gross Transaction Value and Orders) translates into Transaction Revenue, and how well the platform monetizes that commerce with advertising (Advertising and Other Revenue).

Valuation: Trades at 23× trailing earnings · $10B market cap.

Bull case

Two-part monetization of the same shopping activity: Revenue comes from both Transaction Revenue (tied to purchases) and Advertising and Other Revenue (tied to brands and retailers using the platform).
Platform operational improvements can support better commerce throughput: The company tracks improvements such as Perfect Order Fill Rate Improvement vs. Three Years Ago (15.0 percent) and Order Completion Speed Improvement (25.0 percent), which can support order execution quality and speed.

Bear case

Transaction revenue may be sensitive to changes in shopping volume: If Gross Transaction Value and Orders decline, Transaction Revenue may decline because it is closely linked to purchases made through the platform.
Advertising and other revenue can be exposed to advertiser demand: Because a portion of revenue is Advertising and Other Revenue, weaker advertiser or retailer engagement could pressure results.

Valuation — source: SEC EDGAR (first-party)
Price	$49.81
Market Cap	$11.53B
P/E Ratio	21.2
EV / EBITDA	12.4
Price / Book	4.97
Price / Sales	2.87
FCF Yield	17.1%
DCF Value (model)	$91.65
DCF Upside vs Price	84.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.74B
Net Margin	11.9%
Revenue Growth (YoY)	10.8%
EPS Growth (YoY)	-0.6%
FCF Growth (YoY)	46.1%

Financial Health — source: SEC EDGAR
Altman Z-Score	6.33 (safe)

Valuation vs Sector & Industry
Stock P/E	21.2
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	29.9
vs Sector	-37.3%
vs Industry	-28.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	SC US (TTGP), LTD. ($1.05B)
Institutional Holders Tracked	10
Congressional Trades (recent)	2

Company
Sector	Technology
Industry	Business Services
CEO	Chris Rogers
Employees	3,265
Country	US
IPO Date	2023-09-19

Related Companies (Business model: IT Services / Consulting and Managed Services; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.