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Maplebear earnings quality score

How much of the reported profit is backed by cash, and how many markers of managed earnings the filings show

Score77 / 100 · grade B · rank 115 of 1027

Maplebear (CART) scores 77 of 100 for earnings quality, grade B: rank 115 of 1027 companies and 14 of 287 in industrials. It loses the most points on discretionary accruals of -11.0% of assets (modified Jones), larger than most, Montier C-score 2 of 5 checks failed, adjusted earnings 10% below GAAP. It earns full or near-full marks for accruals of -13.4% of assets, lower than 90% of companies (profit backed by cash), Beneish M-score -3.09: clean (below −2.22), Dechow F-score 0.51 (normal).

What earned and lost points

ComponentWhat the filings showPointsOf
Accrualsaccruals of -13.4% of assets, lower than 90% of companies (profit backed by cash)1820
Beneish M-scoreBeneish M-score -3.09: clean (below −2.22)1515
Dechow F-scoreDechow F-score 0.51 (normal)1515
Montier C-scoreMontier C-score 2 of 5 checks failed915
Discretionary accrualsdiscretionary accruals of -11.0% of assets (modified Jones), larger than most110
Piotroski F-scorePiotroski F-score 7 of 9810
Non-GAAP gapadjusted earnings 10% below GAAP710
Earnings smoothnessprofit about as variable as cash flow (smoothness 2.88)55
CART: share of the available points, by componentCART: share of the available points, by componentAccruals91%Discretionary accruals9%Beneish M-score100%Dechow F-score100%Montier C-score60%Piotroski F-score78%Non-GAAP gap67%Earnings smoothness100%

How the score is built

Eight published measures, each scored against the whole universe or on its own scale and weighted: accruals 20, discretionary accruals 10, Beneish M 15, Dechow F 15, Montier C 15, Piotroski F 10, the non-GAAP gap 10, smoothness 5. A measure that cannot be computed (Beneish for a bank, say) drops out and the rest is rescaled, so every company is scored on what applies to it.

Every company ranked → The full quality workbench, live → Maplebear: cash flow →

Computed from the companies’ own XBRL filings (latest fiscal year) by published formulas; a statistical screen, not an audit or an accusation. A low score means the reported profit shows more of the markers of managed or low-quality earnings than its peers. Not investment advice.