Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. Its service can be provided through company's mobile application or website. The company also provides advertising services; and software-as-a-service solutions. Maplebear Inc., was incorporated in 2012 and is headquartered in San Francisco, California.
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 73.7% (top 5%) and operating margin at 13.3% (top 5%) indicate strong pricing power.
Scale Supporting ProfitabilityProfitability at scale is strong (score 0.95), demonstrating competitive advantages.
Key risks
Volatile Margins Suggest CyclicalityMargin volatility is high (stability score 0.24), suggesting cyclical exposure or competitive pressure.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Maplebear Inc. ranks #4 of 43
scored companies in Internet Retail by moat score — the top 9%.
The widest moat in the group is PDD Holdings Inc. (PDD)
at 77/100.
Moat scores for companies ranked near CART in Internet Retail
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 74
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 82
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 68
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 65
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 88
· 15% of the moat score
Scale matters only when it converts into economics.
Maplebear Inc. (CART) scores 73 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #4 of 43 scored companies in Internet Retail, the top 9%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 42 companies in Internet Retail. Its strongest defense is Scale & Market Position (88/100) and its weakest is Resilience (65/100).
How does Maplebear Inc. compare with other Internet Retail companies?
Maplebear Inc. ranks #4 of 43 scored companies in Internet Retail by moat score. The widest moat in Internet Retail is PDD Holdings Inc. (PDD) at 77/100. The companies ranked closest are MercadoLibre, Inc. (MELI) at 75 just above it and Vipshop Holdings Limited (VIPS) at 72 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 42 companies in Internet Retail. The defenses are then weighted to produce the overall score out of 100.
Why is Maplebear Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Maplebear Inc.?
The Corporate Default template measures 6 defenses, and CART scores: Pricing Power (66), Cost Advantage (74), Customer Stickiness (82), Capital Efficiency (68), Resilience (65), Scale & Market Position (88). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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