Maplebear Inc. (CART)
Return on total capital
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 508,000 | 401,000 | -2,194,000 | -2,139,000 | -2,150,000 | -2,096,000 | 394,000 | 295,000 | 62,000 | -83,000 | -159,000 | -138,000 | -52,000 | -5,463 | 41,420 | 14,252 | 11,735 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 3,093,000 | 2,872,000 | 3,221,000 | 3,320,000 | 3,927,000 | 3,484,000 | 191,000 | 2,892,000 | -64,000 | 2,758,000 | 2,219,000 | 2,249,000 | 2,249,000 | 2,249,000 | — | 1,576,000 | 71,436 |
| Return on total capital | 16.42% | 13.96% | -68.12% | -64.43% | -54.75% | -60.16% | 206.28% | 10.20% | — | -3.01% | -7.17% | -6.14% | -2.31% | -0.24% | — | 0.90% | 16.43% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $508,000K ÷ ($—K + $3,093,000K)
= 16.42%
The return on total capital for Maplebear Inc. has shown significant fluctuations over the periods analyzed. Starting at 16.43% on September 30, 2019, the return declined drastically to 0.90% by March 31, 2021. Subsequently, the return on total capital became negative and remained so for several quarters, reaching its lowest point of -68.12% on June 30, 2024.
Although there were periods of substantial negative returns, there were also instances of positive returns. The return on total capital recovered notably by June 30, 2023, showing a significant increase to 206.28%. However, this improvement was short-lived as the return turned negative again in the following quarters.
Overall, the return on total capital exhibited volatility and inconsistency, reflecting the company's challenges in generating sufficient returns relative to its total capital base. This analysis suggests that Maplebear Inc. may have experienced operational difficulties impacting its profitability and efficiency in capital utilization during the period under review.
Peer comparison
Dec 31, 2024