What is Maplebear Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Maplebear Inc.'s reported free cash flow gives $110.23 per share. The share price was $43.19 on September 25, 2026, 61% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $68.04 | +58% |
| Base | 15.0% | 9.0% | $110.23 | +155% |
| Bull | 20.0% | 8.0% | $188.79 | +337% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $142.17 | $152.14 | $164.31 | $179.53 | $199.09 |
| 8.0% | $118.18 | $124.64 | $132.27 | $141.43 | $152.63 |
| 9.0% | $100.72 | $105.13 | $110.23 | $116.18 | $123.20 |
| 10.0% | $87.48 | $90.62 | $94.18 | $98.25 | $102.94 |
| 11.0% | $77.12 | $79.42 | $82.00 | $84.89 | $88.17 |
Where the presets come from
Base: years 1 to 5 grow at Maplebear Inc.'s revenue growth rate over the last 4 fiscal years (19.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions