Maplebear Inc. (CART)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Sep 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	552,000	458,000	-2,134,000	-2,060,000	-2,061,000	-2,022,000	450,000	316,000	71,000	-81,500	-156,000	-135,000	-48,500	-5,077	38,758	10,168	5,918
Revenue (ttm)	US$ in thousands	3,378,000	3,298,000	3,210,000	3,103,000	3,042,000	2,996,000	2,900,000	2,805,000	2,551,000	2,269,000	2,076,000	1,899,000	1,836,000	1,366,758	897,613	459,271	21,683
Pretax margin		16.34%	13.89%	-66.48%	-66.39%	-67.75%	-67.49%	15.52%	11.27%	2.78%	-3.59%	-7.51%	-7.11%	-2.64%	-0.37%	4.32%	2.21%	27.29%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $552,000K ÷ $3,378,000K
= 16.34%

Maplebear Inc.'s pretax margin has displayed significant fluctuations over the past few years. It started with a strong pretax margin of 27.29% in September 2019. However, the margin took a sharp decline by March 2021, dropping to just 2.21%. This downward trend continued through various quarters, reaching negative figures by September 2021 and persisting for several quarters thereafter.

The negative trend in pretax margin indicates that Maplebear Inc. may have been facing challenges in generating profits before accounting for taxes and other expenses. Despite these difficulties, there was a notable recovery by March 2023 when the pretax margin surged to 11.27% and continued to improve in subsequent quarters.

The most recent data as of December 31, 2024, shows a pretax margin of 16.34%, indicating a rebound in profitability for Maplebear Inc. It is essential for the company to sustain this positive trend in pretax margin to ensure financial health and profitability in the future.