<p>Maplebear (CART) 实现了又一个季度的盈利增长，得益于健康的客户需求和企业合作伙伴关系的扩展。管理层还发布了乐观的前景，强调近期产品发布和战略联盟的积极进展。</p>
<p>查看我们对 Maplebear 的最新分析。</p>
<p>Maplebear 最近一系列乐观的盈利、重大产品发布以及与行业领袖如 Kroger 的合作伙伴关系扩展，激发了市场的乐观情绪。然而，短期内股价表现不一；经过几个月的波动后，该股的 1 年总股东回报几乎持平，暗示市场仍在等待长期真正的动能建立。</p>
<p>如果你有兴趣发现其他创新者在获得关注的同时，现在是扩大搜索范围、发现高内部持股的快速增长股票的好时机。</p>
<p>凭借强劲的财务状况、乐观的指引以及来自合作伙伴关系和技术创新的持续动能，投资者可能会想知道 Maplebear 当前的估值是否还有上涨空间，或者市场是否已经考虑了这一增长故事。</p>
<h2>最受欢迎的叙述：低估 20%</h2>
<p>Maplebear 最广泛关注的叙述将该股的价值显著高于其最近的收盘价，表明共识公允价值与当前市场价格之间存在差异。该叙述强调了未来增长和盈利能力的蓝图，为进一步上涨奠定了基调。</p>
<blockquote>
<p><em>深化企业合作伙伴关系和不断增长的全渠道零售商整合（如 Storefront、Carrot Ads、Caper Carts、Carrot Tags）正在增强与主要零售连锁的粘性，创造新的经常性收入来源，并推动更高利润的非交易性收入（例如，广告、店内技术）。这一发展使商业模式的波动性降低，并支持可持续的利润扩张和盈利韧性。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>是什么推动了这种乐观情绪？该叙述高估值背后的一个关键催化剂是利润丰厚的收入来源的结构性扩展，得益于对利润上升和企业采用加速的多年度预期。找出哪些关键财务预测支撑了今天价格的大胆溢价；这可能是改变 Maplebear 一切的指标。</p>
<p><strong>结果：公允价值为 $50.67（低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，劳动力成本上升或进一步的监管变化可能威胁到 Maplebear 的利润扩张，并减少对其长期增长预测的乐观情绪。</p>
<p>了解 Maplebear 叙述的关键风险。</p>
<h2>另一种观点：倍数指标的看法如何？</h2>
<p>虽然我们的公允价值估计表明 Maplebear 被低估，但与其市盈率的对比则呈现出不同的视角。该股的市盈率为 21.1 倍，高于同行平均的 19.1 倍和公允比率的 17.9 倍。这一溢价表明投资者可能在为预期的未来增长付费，如果预期未能实现，可能会面临下行风险。市场是否相信这个故事，还是在自我超前？</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2fed49c0-96b2-4935-af97-b18e1578de9c/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2fed49c0-96b2-4935-af97-b18e1578de9c/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 11 月的 NasdaqGS:CART 市盈率</p>
<h2>构建你自己的 Maplebear 叙述</h2>
<p>如果你更愿意采取动手的方法或信任自己的分析，你可以深入数字，快速制定个性化评估。按照你的方式进行。</p>
<p>一个好的起点是我们的分析，强调投资者对 Maplebear 的三大关键回报的乐观情绪。</p>
<h2>寻找更多投资想法？</h2>
<p>不要在场外观望，而是让最聪明的投资者寻找明天的领袖。超越 Maplebear，抓住这些精心挑选的短名单中的新机会：</p>
<ul>
<li>通过查看这些 899 只基于现金流的低估股票，发现具有强大长期现金流潜力的市场赢家，这些股票目前被我们的模型标记为真正低估。</li>
<li>加强你的被动收入策略，查看这些 18 只当前提供吸引人收益的股息股票，收益率超过 3%。</li>
<li>通过评估这些 82 只在数字金融和区块链创新中推动极限的加密货币和区块链股票，保持领先。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

CART

<p>Maplebear (CART) 显示出强劲的盈利增长和扩展的合作伙伴关系，前景乐观。尽管短期股票表现参差不齐，但该公司被认为低估了 20%，公允价值为 50.67 美元。该股票的高市盈率表明投资者正在为未来的增长付出代价，如果预期未能实现，可能会面临下行风险。叙述强调了利润丰厚的收入来源的结构性扩展以及上升的劳动力成本等潜在风险。Simply Wall St 提供了一般分析，但不提供财务建议</p>

<p>Maplebear (CART) delivered another quarter of earnings growth, fueled by healthy customer demand and progress expanding enterprise partnerships. Management also issued an upbeat outlook, highlighting traction from recent product launches and strategic alliances.</p>
<div class="lb-trans"><p>Maplebear (CART) 实现了又一个季度的盈利增长，得益于健康的客户需求和企业合作伙伴关系的扩展。管理层还发布了乐观的前景，强调近期产品发布和战略联盟的积极进展。</p>
</div><p>See our latest analysis for Maplebear.</p>
<div class="lb-trans"><p>查看我们对 Maplebear 的最新分析。</p>
</div><p>Maplebear’s recent string of upbeat earnings, major product launches, and expanded partnerships with industry leaders like Kroger have fueled optimism. However, the short-term share price performance has been a mixed bag; after a choppy few months, the stock’s 1-year total shareholder return sits just shy of flat, hinting that the market is still waiting for momentum to really build over the longer term.</p>
<div class="lb-trans"><p>Maplebear 最近一系列乐观的盈利、重大产品发布以及与行业领袖如 Kroger 的合作伙伴关系扩展，激发了市场的乐观情绪。然而，短期内股价表现不一；经过几个月的波动后，该股的 1 年总股东回报几乎持平，暗示市场仍在等待长期真正的动能建立。</p>
</div><p>If you’re interested in spotting other innovators as they gain traction, now’s a great moment to broaden your search and discover fast growing stocks with high insider ownership</p>
<div class="lb-trans"><p>如果你有兴趣发现其他创新者在获得关注的同时，现在是扩大搜索范围、发现高内部持股的快速增长股票的好时机。</p>
</div><p>With strong financials, upbeat guidance, and continued momentum from partnerships and tech innovation, investors may be wondering whether Maplebear’s current valuation offers room for upside or if the market has already factored in the growth story.</p>
<div class="lb-trans"><p>凭借强劲的财务状况、乐观的指引以及来自合作伙伴关系和技术创新的持续动能，投资者可能会想知道 Maplebear 当前的估值是否还有上涨空间，或者市场是否已经考虑了这一增长故事。</p>
</div><h2>Most Popular Narrative: 20% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：低估 20%</h2>
</div><p>Maplebear’s most widely followed narrative values the stock notably ahead of its recent close, signaling divergence between consensus fair value and current market price. The narrative highlights a blueprint for future growth and earnings power, setting the tone for what could propel further upside.</p>
<div class="lb-trans"><p>Maplebear 最广泛关注的叙述将该股的价值显著高于其最近的收盘价，表明共识公允价值与当前市场价格之间存在差异。该叙述强调了未来增长和盈利能力的蓝图，为进一步上涨奠定了基调。</p>
</div><blockquote>
<p><em>Deepening enterprise partnerships and a growing suite of omnichannel retailer integrations (such as Storefront, Carrot Ads, Caper Carts, Carrot Tags) are increasing stickiness with major retail chains, creating new recurring revenue streams and driving higher-margin, non-transaction-based revenues (for example, advertising, in-store tech). This development makes the business model less volatile and supports sustainable margin expansion and earnings resilience.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>深化企业合作伙伴关系和不断增长的全渠道零售商整合（如 Storefront、Carrot Ads、Caper Carts、Carrot Tags）正在增强与主要零售连锁的粘性，创造新的经常性收入来源，并推动更高利润的非交易性收入（例如，广告、店内技术）。这一发展使商业模式的波动性降低，并支持可持续的利润扩张和盈利韧性。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>What’s fueling this optimism? One key catalyst behind the narrative’s high valuation is structural expansion of margin-rich revenue streams, fueled by multi-year expectations for rising profits and accelerating enterprise adoption. Find out which critical financial forecasts underpin the bold premium over today’s price; this could be the metric that changes everything for Maplebear.</p>
<div class="lb-trans"><p>是什么推动了这种乐观情绪？该叙述高估值背后的一个关键催化剂是利润丰厚的收入来源的结构性扩展，得益于对利润上升和企业采用加速的多年度预期。找出哪些关键财务预测支撑了今天价格的大胆溢价；这可能是改变 Maplebear 一切的指标。</p>
</div><p><strong>Result: Fair Value of $50.67 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 $50.67（低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, rising labor costs or further regulatory changes could threaten Maplebear’s margin expansion and reduce optimism surrounding its long-term growth forecast.</p>
<div class="lb-trans"><p>然而，劳动力成本上升或进一步的监管变化可能威胁到 Maplebear 的利润扩张，并减少对其长期增长预测的乐观情绪。</p>
</div><p>Find out about the key risks to this Maplebear narrative.</p>
<div class="lb-trans"><p>了解 Maplebear 叙述的关键风险。</p>
</div><h2>Another View: What Do Multiples Say?</h2>
<div class="lb-trans"><h2>另一种观点：倍数指标的看法如何？</h2>
</div><p>While our fair value estimate suggests Maplebear is undervalued, a check against its price-to-earnings ratio presents a different perspective. The stock trades at 21.1x earnings, which is higher than both the peer average of 19.1x and the fair ratio of 17.9x. This premium indicates that investors may be paying for anticipated future growth and could encounter downside risk if expectations are not met. Does the market believe the story, or is it moving ahead of itself?</p>
<div class="lb-trans"><p>虽然我们的公允价值估计表明 Maplebear 被低估，但与其市盈率的对比则呈现出不同的视角。该股的市盈率为 21.1 倍，高于同行平均的 19.1 倍和公允比率的 17.9 倍。这一溢价表明投资者可能在为预期的未来增长付费，如果预期未能实现，可能会面临下行风险。市场是否相信这个故事，还是在自我超前？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2fed49c0-96b2-4935-af97-b18e1578de9c/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/2fed49c0-96b2-4935-af97-b18e1578de9c/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:CART PE Ratio as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 NasdaqGS:CART 市盈率</p>
</div><h2>Build Your Own Maplebear Narrative</h2>
<div class="lb-trans"><h2>构建你自己的 Maplebear 叙述</h2>
</div><p>If you’d rather take a hands-on approach or trust your own analysis, you can dive into the numbers and craft a personalized assessment in just a few minutes. Do it your way.</p>
<div class="lb-trans"><p>如果你更愿意采取动手的方法或信任自己的分析，你可以深入数字，快速制定个性化评估。按照你的方式进行。</p>
</div><p>A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Maplebear.</p>
<div class="lb-trans"><p>一个好的起点是我们的分析，强调投资者对 Maplebear 的三大关键回报的乐观情绪。</p>
</div><h2>Looking for More Investment Ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Don’t stand on the sidelines while the smartest investors scout out tomorrow’s leaders. Go beyond Maplebear and capture new opportunities with these hand-picked shortlists:</p>
<div class="lb-trans"><p>不要在场外观望，而是让最聪明的投资者寻找明天的领袖。超越 Maplebear，抓住这些精心挑选的短名单中的新机会：</p>
</div><ul>
<li>Spot market winners with strong long-term cash flow potential by reviewing these 899 undervalued stocks based on cash flows that our models flag as truly undervalued right now.</li>
<li>Strengthen your passive income strategy and see which companies currently offer attractive yields among these 18 dividend stocks with yields &gt; 3% paying more than 3%.</li>
<li>Stay ahead of the curve by evaluating these 82 cryptocurrency and blockchain stocks pushing the limits in digital finance and blockchain innovation.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过查看这些 899 只基于现金流的低估股票，发现具有强大长期现金流潜力的市场赢家，这些股票目前被我们的模型标记为真正低估。</li>
<li>加强你的被动收入策略，查看这些 18 只当前提供吸引人收益的股息股票，收益率超过 3%。</li>
<li>通过评估这些 82 只在数字金融和区块链创新中推动极限的加密货币和区块链股票，保持领先。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成购买或出售任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

在强劲的收益、乐观的业绩指引和不断扩展的合作伙伴关系之后，评估 Maplebear（Instacart: CART）的估值