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Maplebear cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$306M in Q3 2026 · $1.2B over twelve months

Operating cash flow$323M
Capital spending−$17.0M
Free cash flow+$306M
Cash / net income2.2×
Cash conversion cycle64 days

Analysis

In Q3 2026, Maplebear generated $323M of operating cash flow and spent $17.0M on capital projects, leaving free cash flow of $306M. That is $34.0M more than in Q3 2025 ($272M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.3B; the largest uses were buybacks ($2.0B), acquisitions ($59.0M), capital spending ($58.0M); besides operations, cash came from shares issued ($6.0M); the cash balance fell by $911M.

Operating cash flow was $323M against net income of $147M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$120M, receivables −$76.0M, depreciation & amortization +$35.0M.

Its cash conversion cycle was 64 days (receivables 85 + inventory 0 − payables 21).

Free cash flow

Maplebear: free cash flow by quarterMaplebear: free cash flow by quarter$141MQ4 2024$280MQ1 2025$187MQ2 2025$272MQ3 2025$171MQ4 2025$252MQ1 2026$481MQ2 2026$306MQ3 2026
Operating cash flow less capital spending.
Maplebear: operating cash flow against capital spendingMaplebear: operating cash flow against capital spendingOperating cash flowCapital spending$153M$12.0MQ4 2024$298M$18.0MQ1 2025$203M$16.0MQ2 2025$287M$15.0MQ3 2025$183M$12.0MQ4 2025$268M$16.0MQ1 2026$494M$13.0MQ2 2026$323M$17.0MQ3 2026
Latest (Q3 2026): Operating cash flow $323M, Capital spending $17.0M.

Capital allocation, year by year

Maplebear: where the cash came from (up) and went (down), by fiscal yearMaplebear: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$204MFY2021: Shares issued $131MFY2021: Capital spending −$13.0MFY2021: Acquisitions −$54.0M$131MFY2021FY2022: Operating cash flow $277MFY2022: Shares issued $1.0MFY2022: Capital spending −$24.0MFY2022: Acquisitions −$93.0M$278MFY2022FY2023: Operating cash flow $586MFY2023: Shares issued $6.0MFY2023: Capital spending −$54.0MFY2023: Buybacks −$36.0M$592MFY2023FY2024: Operating cash flow $687MFY2024: Shares issued $80.0MFY2024: Capital spending −$64.0MFY2024: Buybacks −$1.4B$767MFY2024FY2025: Operating cash flow $971MFY2025: Shares issued $8.0MFY2025: Capital spending −$61.0MFY2025: Acquisitions −$106MFY2025: Buybacks −$1.4B$979MFY2025
Over these 5 years operating cash flow totalled $2.3B; the largest uses were buybacks ($2.8B) and acquisitions ($253M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$927M
Debtnone
Net cash$927M

Maplebear funds itself: free cash flow was $1.2B over the last twelve months, with $927M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Maplebear: sources (+) and uses (−) of cash, Q3 2026Maplebear: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$323MBuybacks−$238MCash drawn (+) / kept (−)−$49.0MAcquisitions−$29.0MCapital spending−$17.0MOther investing$13.0MTaxes on employees’ shares−$4.0MOther financing−$3.0MShares issued$2.0MExchange rates$1.0MNot reconciled$1.0M
Maplebear: sources (+) and uses (−) of cash, TTM to Q3 2026Maplebear: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$2.0BOperating cash flow$1.3BCash drawn (+) / kept (−)$911MAcquisitions−$59.0MCapital spending−$58.0MOther investing−$17.0MTaxes on employees’ shares−$15.0MShares issued$6.0MExchange rates−$2.0MNot reconciled$1.0M

From profit to cash

Maplebear: net income to operating cash flow, Q3 2026Maplebear: net income to operating cash flow, Q3 2026Net income$147MDepreciation & amortization$35.0MStock-based pay$120MDeferred taxes$32.0MImpairments$1.0MOther non-cash−$1.0MReceivables−$76.0MPayables$19.0MAccrued liabilities$21.0MDeferred revenue−$11.0MPrepaid and other assets$30.0MOperating cash flow$323M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202685—2164
Q2 202690—1773
Q1 202698—1979
Q4 2025101—2576
Q3 2025102—2775
Q2 2025100—2872
Q1 2025100—3168
Q4 2024102—3171

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$323M−$17.0M−$29.0M−$238M$2.0M−$49.0M$306M
Q2 2026$494M−$13.0M—−$324M$1.0M−$115M$481M
Q1 2026$268M−$16.0M—−$359M$3.0M$68.0M$252M
Q4 2025$183M−$12.0M−$1.0M−$1.1B—$1.0B$171M
Q3 2025$287M−$15.0M—−$62.0M$2.0M−$208M$272M
Q2 2025$203M−$16.0M—−$121M$2.0M$78.0M$187M
Q1 2025$298M−$18.0M—−$89.0M$4.0M−$254M$280M
Q4 2024$153M−$12.0M—−$5.0M$4.0M−$8.0M$141M

Maplebear: income statement and cash flow

Maplebear, Q3 2026: revenue $1.1B (+17% year over year), operating margin 15.9%. The chart follows the revenue to costs, profit and cash.

Maplebear: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.