CARTMaplebear Inc.
Services-Business Services, NEC
- Revenue
- $3.7B
- 11% YoY
- Operating margin
- 13.3%
- 8.1% YoY
- EBITDA
- $589M
- 8.1% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear217% of net incomeCash flow under 80% of net income
- Dilutive SBCClear9% of revenueOver 10% of revenue
- Payouts exceed cash flowFired143% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear12% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.6B | $3.0B | $3.4B | $3.7B | 11% |
| Operating income | −$86M | $62M | −$2.1B | $489M | $498M | 1.8% |
| Net income | −$73M | $428M | −$1.6B | $457M | $447M | 2.2% |
| Operating cash flow | −$204M | $277M | $586M | $687M | $971M | 41% |
| Capex | $13M | $24M | $54M | $64M | $61M | 4.7% |
| Stock-based comp | $22M | $33M | $2.8B | $300M | $352M | 17% |
| Buybacks | $0 | $0 | $36M | $1.4B | $1.4B | 1.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $8M · 9
- Net
- −$8M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 133 | 192 |
| FY2024 | — | — | 123 | 155 |
| FY2023 | — | — | 70 | 114 |