CART

Maplebear Inc.

Technology · $10.2B market cap

Verdict

Share price

$44.25

close of Oct 3, 2026

Fair value

$70.56

Sticker Price

Payback Price

$28.22

buy price

Undervalued

CART is Undervalued: at $44.25 it trades 37% below its fair value of $70.56. Its buy price (Payback Price) is $28.22, 36% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 14% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth0.0% a year✗
Equity per share growth-17.6% a year✗
Sales growth20.4% a year✓
Free cash flow growth49.9% a year✓
Return on invested capital-5.2%✗

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Superinvestors

1 of the investors we track holds CART. In Q1 2026, 1 opened a position and 1 sold out. Who we track

Moves in Q1 2026

New position: Bill Miller

Sold out: Lee Ainslie

Insider activity

Since Jun 15, 2026: no open-market purchases, 10 sales worth $12.0M and 8 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Other filings

About Maplebear Inc.

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally. The company offers Instacart Marketplace which helps retailers serve customers’ needs by supporting fulfillment options, shopping occasions, and categories; Instacart Enterprise platform, an end-to-end technology solution for retailers across all aspects of…

Software - Services

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works