Mastercard Inc MA

Industrials SIC 7389 - Services-Business Services, NEC NAICS Administrative and Support and Waste Management and Remediation Services › Administrative and Support Services derived NYSE

Mastercard is a technology company in the global payments industry. We connect consumers, financial institutions, merchants, governments, digital partners, businesses and other organizations worldwide by enabling electronic payments and making those payment transactions secure, simple, smart and accessible. We make payments easier and more efficient by providing a wide range of payment solutions and services using our family of well-known and trusted brands, including our primary brand Mastercard®, as well as our Maestro® and Cirrus® brands. We operate a payments network that provides choice and flexibility for consumers, merchants and our customers. Through our unique and proprietary global payments network, we switch (authorize, clear and settle) payment transactions. We have additional payments capabilities that include automated clearing house ("ACH") transactions (both batch and real-time account-based payments). Using these capabilities, we offer consumer and commercial payment products, capture new payment flows and provide services and solutions. These services and solutions include, among others, security solutions, consumer acquisition and engagement services, business and market insights, digital and authentication, processing and gateway and other solutions, all of which draw on our principled and responsible use of secure data. Our capabilities strengthen, reinforce and complement each other and are fundamentally interdependent. For our global payments network, our franchise model sets the standards and ground-rules that balance value and risk across (and allow for interoperability among) all stakeholders. We employ a multi-layered approach to help protect the global payments ecosystem in which we operate.

Last close 623.60 2026-10-23
Market cap $550.02B estimated share count
52-week range 464.52 - 633.29

Valuation FY2025 figures against the last close

P/S16.8x
P/E37.7x
P/FCF32.1x
EV/EBITDA27.9x
Dividend yield0.5%
Diluted EPS16.52

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Asia Pacific, Europe, Middle East and Africa
  • Americas
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 Asia Pacific, Europe, Middle East and Africa, FY2025: 18.7B (57.2%) 57% Asia Pacific, Europe, Middle East and Africa Americas, FY2025: 14B (42.8%) 43% Americas FY2024 Asia Pacific, Europe, Middle East and Africa, FY2024: 15.8B (56.1%) 56% Americas, FY2024: 12.4B (43.9%) 44% FY2023 Asia Pacific, Europe, Middle East and Africa, FY2023: 14B (55.6%) 56% Americas, FY2023: 11.1B (44.4%) 44%
Region FY2025FY2024FY2023
Asia Pacific, Europe, Middle East and Africa $18.75B $15.79B $13.96B
Americas $14.04B $12.38B $11.13B

As the company reported it, from the “Revenue - Disaggregation of Revenues (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $32.79B$28.17B$25.10B$22.24B$18.88B$15.30B$24.98B$21.83B$12.50B$10.78B
SG&A $11.32B$10.19B$8.93B$8.08B$7.09B$5.91B$5.76B$5.17B$4.65B$3.83B
Total operating expenses $13.89B$12.59B$11.09B$9.97B$8.80B$7.22B$7.22B$7.67B$5.88B$5.01B
Operating income $18.90B$15.58B$14.01B$12.26B$10.08B$8.08B$9.66B$7.28B$6.62B$5.76B
Interest expense $722.0M$646.0M$575.0M$471.0M$431.0M$380.0M$224.0M$186.0M$154.0M$95.0M
Pre-tax income $18.58B$15.25B$13.64B$11.73B$10.31B$7.76B$9.73B$7.20B$6.52B$5.65B
Income tax $3.61B$2.38B$2.44B$1.80B$1.62B$1.35B$1.61B$1.34B$2.61B$1.59B
Net income $14.97B$12.87B$11.20B$9.93B$8.69B$6.41B$8.12B$5.86B$3.92B$4.06B
EPS, basic 16.5413.9111.8610.268.796.407.985.633.673.70
EPS, diluted 16.5213.8911.8310.228.766.377.945.603.653.69
Shares, diluted (wtd. avg.) 906.0M927.0M946.0M971.0M992.0M1.01B1.02B1.05B1.07B1.10B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $10.57B$8.44B$10.46B$9.20B$9.90B$12.42B$8.97B$8.34B$7.59B$6.72B
Receivables $4.61B$3.77B$4.06B$3.42B$3.01B$2.65B$2.51B$2.28B—$1.42B
Total current assets $23.56B$19.72B$18.96B$16.61B$16.95B$19.11B$16.90B$16.17B—$13.23B
Property, plant and equipment $2.30B$2.14B$2.06B$2.01B$1.91B$1.90B$1.83B$921.0M$829.0M$733.0M
Goodwill $9.56B$9.19B$7.66B$7.52B$7.66B$4.96B$4.02B$2.90B$3.04B$1.76B
Other intangibles $5.55B$5.45B$4.09B$3.86B$3.67B$1.75B$1.42B$991.0M—$722.0M
Total assets $54.16B$48.08B$42.45B$38.72B$37.67B$33.58B$29.24B$24.86B—$18.68B
Accounts payable $999.0M$929.0M$834.0M$926.0M$738.0M$527.0M$489.0M$537.0M$933.0M$609.0M
Short-term debt $749.0M$750.0M$1.34B$274.0M$792.0M$649.0M$0$500.0M——
Total current liabilities $22.76B$19.22B$16.26B$14.17B$13.16B$11.85B$11.90B$11.59B—$7.21B
Long-term debt $18.25B$17.48B$14.34B$13.75B$13.11B$12.02B$8.53B$5.83B—$5.18B
Total liabilities $46.41B$41.57B$35.45B$32.35B$30.26B$27.07B$23.25B$19.37B—$12.99B
Retained earnings $85.03B$72.91B$62.56B$53.61B$45.65B$38.75B$33.98B$27.28B$22.36B$19.42B
Total equity $7.74B$6.49B$6.97B$6.36B$7.38B$6.49B$5.92B$5.42B$5.50B$5.68B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $17.65B$14.78B$11.98B$11.20B$9.46B$7.22B$8.18B$6.22B$5.66B$4.64B
Depreciation and amortisation $1.14B$897.0M$799.0M$750.0M$726.0M$580.0M$522.0M$459.0M$437.0M$373.0M
Stock-based compensation $597.0M$526.0M$460.0M$295.0M$273.0M$254.0M$250.0M$196.0M$176.0M$149.0M
Capital expenditure $489.0M$474.0M$371.0M$442.0M$407.0M$339.0M$422.0M$330.0M$300.0M$215.0M
Investing cash flow -$1.36B-$3.40B-$1.35B-$1.47B-$5.27B-$1.88B-$1.64B-$506.0M-$1.78B-$1.16B
Financing cash flow -$14.18B-$10.84B-$9.49B-$10.33B-$6.55B-$2.15B-$5.87B-$4.97B-$4.76B-$2.34B
Dividends paid $2.76B$2.45B$2.16B$1.90B$1.74B$1.60B$1.34B$1.04B$942.0M$837.0M
Buybacks $11.73B$10.95B$9.03B$8.75B$5.90B$4.47B$6.50B$4.93B$3.76B$3.51B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001141391-26-000021.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 10.8B Net income, FY2016: 4.1B Revenue, FY2017: 12.5B Net income, FY2017: 3.9B Revenue, FY2018: 21.8B Net income, FY2018: 5.9B Revenue, FY2019: 25B Net income, FY2019: 8.1B Revenue, FY2020: 15.3B Net income, FY2020: 6.4B Revenue, FY2021: 18.9B Net income, FY2021: 8.7B Revenue, FY2022: 22.2B Net income, FY2022: 9.9B Revenue, FY2023: 25.1B Net income, FY2023: 11.2B Revenue, FY2024: 28.2B Net income, FY2024: 12.9B Revenue, FY2025: 32.8B Net income, FY2025: 15B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $10.78B $12.50B $21.83B $24.98B $15.30B $18.88B $22.24B $25.10B $28.17B $32.79B
Gross profit — — — — — — — — — —
Net income $4.06B $3.92B $5.86B $8.12B $6.41B $8.69B $9.93B $11.20B $12.87B $14.97B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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