Maplebear vs Sprouts Farmers Market
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KIRA’s take AI analyst
I put Maplebear and Sprouts Farmers Market side by side, using each one’s latest annual report. Here is what stands out:
- Sprouts Farmers Market is the larger business, with $8.8B of revenue in fiscal 2025 against $3.7B for Maplebear, about 2.4 times as much.
- Sprouts Farmers Market grew revenue faster (14.1%, against 10.8%).
- Maplebear kept more of each dollar of sales as operating profit (13.3% operating margin, against 7.8%).
- Maplebear turned more of its sales into free cash flow (24.3% FCF margin, against 5.3%).
- Sprouts Farmers Market earned a higher return on the capital invested in it (46.9%, against 22.5%).
- Investors pay more for each dollar of Maplebear’s earnings: a P/E of 33.3x against 12.6x for Sprouts Farmers Market.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Maplebear
CART
6/10
Gross marginOperating marginNet marginFCF marginNet debt / EBITDAShare count change
Sprouts Farmers Market
SFM
4/10
Revenue growthReturn on capitalReturn on equityPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | CART FY25 | SFM FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.2B | $6.2B |
| Revenue | $3.7B | $8.8B |
| Free cash flow | $910M | $468M |
| Net income | $447M | $524M |
| Growth | ||
| Revenue growth | 10.8% | 14.1% |
| 5-year growth | — | 6.4% |
| Share count change | −3.3% | −2.6% |
| Profitability | ||
| Gross margin | 73.7% | 38.8% |
| Operating margin | 13.3% | 7.8% |
| Net margin | 12.0% | 6.0% |
| FCF margin | 24.3% | 5.3% |
| Return on capital | 22.5% | 46.9% |
| Return on equity | 15.9% | 38.4% |
| Balance sheet | ||
| Net debt | −$687M | −$244M |
| Net debt / EBITDA | −1.2x | −0.3x |
| Dividends and buybacks | $1.4B | $472M |
| Valuation & quality | ||
| P/E | 33.3x | 12.6x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.