CART
Instacart (Maplebear Inc.)
CART has the edge over TSLA overall, supported by stronger fundamentals and stronger valuation.
TSLA
Tesla, Inc.
TSLA's outlook is improving, though it still trails on the overall score.
CART Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
CART's revenue, profitability, cash flow and balance sheet are all currently healthy.
TSLA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Strong |
TSLA's revenue and balance sheet are currently healthy, and its profitability is stable, but its cash flow is under pressure.
CART PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $58.48 | — |
| Cheap | 22x | $43.21 | -26% |
| Fair | 25x | $48.42 | -17% |
| Expensive | 29x | $55.58 | -5% |
| Current | 30x | $58.48 | — |
Historical ranges are pointers, not guarantees.
CART has the edge over TSLA in the historical PE scenario, which offers more potential upside but is not a forecast.
TSLA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 60x | $54.70 | -86% |
| Fair | 174x | $158 | -60% |
| Forward | 196x | $397 | — |
| Expensive | 415x | $378 | -4.9% |
| Current | 437x | $397 | — |
Historical ranges are pointers, not guarantees.
TSLA's PE is in its expensive range at 437x. If earnings grow as analysts expect, today's price would be 196x next year's earnings, in its fair range.
CART Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
CART has the edge over TSLA on the outlook, with more favorable profitability expectations.
TSLA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for TSLA, with profitability holding steady. However, they disagree widely on these estimates.
CART Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.74 | +42% |
| Q3 2026 | $1.93 | +6% |
| Q2 2026 | $1.84 | +6.4% |
| Q1 2026 | $1.80 | +18% |
| Q4 2025 | $1.60 | +1.3% |
CART has the edge over TSLA on earnings, with more consistent year-over-year improvement.
TSLA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.03 | +123% |
| Q3 2026 | $0.91 | -39% |
| Q2 2026 | $1.08 | -38% |
| Q1 2026 | $1.09 | -40% |
| Q4 2025 | $1.08 | -47% |
| Q3 2025 | $1.50 | -59% |
| Q2 2025 | $1.73 | -51% |
| Q1 2025 | $1.82 | -53% |
| Q4 2024 | $2.04 | -53% |
TSLA's earnings per share have fallen from their peak: $0.91 over the past year, against $4.30 in late 2023.
CART Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +17% |
| Q2 2026 | $1B | +14% |
| Q1 2026 | $1B | +14% |
| Q4 2025 | $992M | +12% |
| Q3 2025 | $939M | +10% |
| Q2 2025 | $914M | +11% |
| Q1 2025 | $897M | +9.4% |
| Q4 2024 | $883M | +10% |
CART has the edge over TSLA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -1.8 points |
| Q2 2026 | 14% | +0.1 points |
| Q1 2026 | 18% | +5.6 points |
| Q4 2025 | 9.8% | -7.8 points |
| Q3 2025 | 18% | +1.5 points |
| Q2 2025 | 14% | +7.3 points |
| Q1 2025 | 12% | -5.3 points |
| Q4 2024 | 18% | +12 points |
CART has the edge over TSLA on profitability, with a higher operating margin.
TSLA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $28B | -0.2% |
| Q2 2026 | $28.2B | +26% |
| Q1 2026 | $22.4B | +16% |
| Q4 2025 | $24.9B | -3.1% |
| Q3 2025 | $28.1B | +12% |
| Q2 2025 | $22.5B | -12% |
| Q1 2025 | $19.3B | -9.2% |
| Q4 2024 | $25.7B | +2.1% |
TSLA's revenue has picked up after two years of holding roughly level: $28B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.6% | -3.2 points |
| Q2 2026 | 1.4% | -2.7 points |
| Q1 2026 | 4.2% | +2.1 points |
| Q4 2025 | 5.7% | -0.5 points |
| Q3 2025 | 5.8% | -5 points |
| Q2 2025 | 4.1% | -2.2 points |
| Q1 2025 | 2.1% | -3.4 points |
| Q4 2024 | 6.2% | -2 points |
TSLA's operating margin was 2.6% last quarter, down 3.2 points from the same quarter a year ago, near the bottom of its range since 2019.
CART Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $306M | +13% |
| Q2 2026 | $481M | +157% |
| Q1 2026 | $252M | -10% |
| Q4 2025 | $171M | +21% |
| Q3 2025 | $272M | +59% |
| Q2 2025 | $187M | -15% |
| Q1 2025 | $280M | +208% |
| Q4 2024 | $141M | -35% |
CART has the edge over TSLA on cash flow, with more consistent year-over-year improvement.
TSLA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.5B | -62% |
| Q2 2026 | -$1.1B | -848% |
| Q1 2026 | $1.4B | +117% |
| Q4 2025 | $1.4B | -30% |
| Q3 2025 | $4B | +46% |
| Q2 2025 | $146M | -89% |
| Q1 2025 | $664M | +$3.2B |
| Q4 2024 | $2B | -1.6% |
TSLA still generates free cash flow, though less than at its 2025 peak: $3.3B over the past year.
CART Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1.3M shares |
| 1 year | -13% | -35.6M shares |
| 3 years | -10% | -28.9M shares |
CART has the edge over TSLA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $238M |
| Q2 2026 | $324M |
| Q1 2026 | $359M |
| Q4 2025 | $1.1B |
| Q3 2025 | $62M |
| Q2 2025 | $121M |
| Q1 2025 | $89M |
| Q4 2024 | $5M |
CART spent $2B buying back its own shares over the past year, about seven times what it spent the year before.
TSLA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +1M shares |
| 1 year | +0.4% | +15M shares |
| 3 years | +1.4% | +48M shares |
| 5 years | +5.1% | +172M shares |
| Available history | +33% | +886M shares |
TSLA has 3.5B diluted shares, about the same as a year ago.
CART Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -2.7x | Net Cash |
| Q2 2025 | -2.5x | Net Cash |
| Q1 2025 | -3.0x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
CART has the edge over TSLA on leverage, with a lower net debt burden relative to earnings.
TSLA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.1x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
TSLA has more cash than debt.
CART Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.1 | Neutral |
| Stochastic | 78.4 | Neutral |
CART's weekly RSI is 69 (neutral) and its Stochastic is 78 (neutral).
TSLA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 72.6 | Neutral |
TSLA's weekly RSI is 54 (neutral) and its Stochastic is 73 (neutral).
CART PE vs Consumer Cyclical Sector
| Metric | CART | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 18x | 68% above |
| PE % | 92 | 31 | 61 pts above |
CART has the edge over TSLA on valuation relative to its sector.
TSLA PE vs Consumer Cyclical Sector
| Metric | TSLA | Sector median | Relative |
|---|---|---|---|
| PE | 437x | 18x | 2,324% above |
| PE % | 84 | 47 | 37 pts above |
TSLA is trading at 437x earnings, a 2324% premium to the Consumer Cyclical sector's median of 18x.
CART Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $51.8 | 13% above |
| 20 week MA | $49.3 | 19% above |
| 50 week MA | $44.0 | 33% above |
| 100 week MA | $43.8 | 33% above |
TSLA has stronger trend alignment. CART is above 4 of 4 weekly averages versus TSLA above 5 of 5.
TSLA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $376.0 | 5.7% above |
| 20 week MA | $364.0 | 9.2% above |
| 50 week MA | $393.6 | 1% above |
| 100 week MA | $372.1 | 6.8% above |
| 200 week MA | $296.9 | 34% above |
TSLA is in an uptrend: it's above all five of its weekly moving averages, and 34% above its 200-week average.
CART Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $30.0 | $23.5 | -22% |
| 2024 | $23.5 | $42.2 | +80% |
| 2025 | $42.2 | $45.9 | +8.6% |
| 2026 YTD | $45.9 | $58.5 | +28% |
CART has the edge over TSLA on returns for 2026, with the stronger performance.
TSLA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.7 | $220.6 | +669% |
| 2021 | $220.6 | $355.7 | +61% |
| 2022 | $355.7 | $123.2 | -65% |
| 2023 | $123.2 | $248.5 | +102% |
| 2024 | $248.5 | $431.7 | +74% |
| 2025 | $431.7 | $475.2 | +10% |
| 2026 YTD | $475.2 | $397.5 | -16% |
TSLA's yearly returns have swung widely, from +669% in 2020 to −65% in 2022. It's down 16% so far in 2026.