Maplebear Inc.

NasdaqGS:CART Stock Report

Market Cap: US$11.1b

Maplebear Valuation

Is CART undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CART when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$86.83
Fair Value
51.5% undervalued intrinsic discount
29
Number of Analysts

Below Fair Value: CART ($42.08) is trading below our estimate of fair value ($86.83)

Significantly Below Fair Value: CART is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CART?

Key metric: As CART is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CART. This is calculated by dividing CART's market cap by their current earnings.
What is CART's PE Ratio?
PE Ratio24.9x
EarningsUS$448.00m
Market CapUS$11.08b

Price to Earnings Ratio vs Peers

How does CART's PE Ratio compare to its peers?

The above table shows the PE ratio for CART vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average65.3x
ACI Albertsons Companies
12.8x1.8%US$11.6b
SFM Sprouts Farmers Market
41.1x12.1%US$15.7b
CASY Casey's General Stores
31.7x9.3%US$17.2b
TBBB BBB Foods
175.6x31.4%US$3.1b
CART Maplebear
24.9x12.3%US$11.1b

Price-To-Earnings vs Peers: CART is good value based on its Price-To-Earnings Ratio (24.9x) compared to the peer average (65.3x).

Price to Earnings Ratio vs Industry

How does CART's PE Ratio compare vs other companies in the US Consumer Retailing Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BLMH Blum Holdings
0.7xn/aUS$9.80m
No more companies available in this PE range
CART 24.9xIndustry Avg. 24.0xNo. of Companies6PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CART is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the US Consumer Retailing industry average (24x).

Price to Earnings Ratio vs Fair Ratio

What is CART's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CART PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.9x
Fair PE Ratio22x

Price-To-Earnings vs Fair Ratio: CART is expensive based on its Price-To-Earnings Ratio (24.9x) compared to the estimated Fair Price-To-Earnings Ratio (22x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CART forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$42.08
US$50.59
+20.2%
13.0%US$60.00US$39.00n/a29
Apr ’26US$40.22
US$51.79
+28.8%
11.2%US$60.00US$39.00n/a28
Mar ’26US$41.09
US$52.11
+26.8%
11.5%US$60.00US$39.00n/a27
Feb ’26US$48.28
US$51.54
+6.7%
11.5%US$60.00US$37.00n/a26
Jan ’26US$41.42
US$50.27
+21.4%
13.3%US$60.00US$37.00n/a23
Dec ’25US$43.67
US$50.56
+15.8%
12.0%US$60.00US$38.32n/a22
Nov ’25US$44.78
US$45.13
+0.8%
11.7%US$55.00US$35.00n/a22
Oct ’25US$40.45
US$44.47
+9.9%
10.9%US$52.00US$35.00n/a21
Sep ’25US$35.89
US$44.32
+23.5%
11.7%US$52.00US$34.00n/a20
Aug ’25US$33.02
US$42.21
+27.8%
12.1%US$49.00US$32.00n/a21
Jul ’25US$32.40
US$42.37
+30.8%
10.5%US$49.00US$34.00n/a20
Jun ’25US$30.48
US$42.30
+38.8%
10.7%US$49.00US$34.00n/a20
May ’25US$35.46
US$38.84
+9.5%
17.4%US$48.00US$26.00n/a21
Apr ’25US$36.86
US$37.39
+1.4%
17.5%US$48.00US$26.00US$40.2220
Mar ’25US$33.17
US$33.93
+2.3%
16.3%US$48.00US$26.00US$41.0919
Feb ’25US$25.25
US$33.57
+33.0%
18.5%US$48.00US$26.00US$48.2819
Jan ’25US$23.47
US$34.59
+47.4%
18.4%US$48.00US$26.00US$41.4215
Dec ’24US$25.37
US$35.43
+39.6%
16.7%US$48.00US$29.00US$43.6714
Nov ’24US$25.05
US$35.23
+40.6%
17.7%US$48.00US$28.00US$44.7813
AnalystConsensusTarget
Consensus Narrative from 29 Analysts
US$50.59
Fair Value
16.8% undervalued intrinsic discount
29
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/16 23:04
End of Day Share Price 2025/04/16 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Maplebear Inc. is covered by 39 analysts. 32 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Colin SebastianBaird
Ishan MajumdarBaptista Research
Ross SandlerBarclays