Mastercard Incorporated (MA) 10-Year Financial Performance & Capital Metrics

MA • • Banking & Credit

Financial ServicesCredit ServicesPayment Networks and Merchant Acquiring

AboutMastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers other payment-related products and services. The company offers integrated products and value-added services for account holders, merchants, financial institutions, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; prepaid programs and management services; commercial credit and debit payment products and solutions; and payment products and solutions that allow its customers to access funds in deposit and other accounts. It also provides value-added products and services comprising cyber and intelligence solutions for parties to transact, as well as proprietary insights, drawing on principled use of consumer, and merchant data services. In addition, the company offers analytics, test and learn, consulting, managed services, loyalty, processing, and payment gateway solutions for e-commerce merchants. Further, it provides open banking and digital identity platforms services. The company offers payment solutions and services under the MasterCard, Maestro, and Cirrus. Mastercard Incorporated was founded in 1966 and is headquartered in Purchase, New York.Show more

Net Interest Income -$722M -11.8%
Total Revenue $32.79B +16.4%
Net Income $14.97B +16.3%
Return on Equity 209.92% +10.2%
Net Interest Margin -1.33% +0.8%
Efficiency Ratio 24.27% +15.6%
ROA 29.28% +2.9%
Equity / Assets 14.3% +5.6%
Book Value per Share 8.63 +22.7%
Tangible BV/Share -8.20 +6.5%
Debt/Equity 2.45 -12.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 189.3%
✓Strong 5Y profit CAGR of 18.5%
✓Strong Piotroski F-Score: 9/9
✓Efficient operations: 24.3% efficiency ratio
✓14 consecutive years of dividend growth
✓Well capitalized: 14.3% equity/assets

✗Weaknesses

✗High debt to equity ratio of 2.5x
✗Weak NIM of -1.3%
✗Expensive at 60.0x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.99%

5Y16.47%

3Y13.82%

TTM-

Profit (Net Income) CAGR

10Y14.67%

5Y18.48%

3Y14.66%

TTM16.27%

EPS CAGR

10Y17.3%

5Y21%

3Y17.32%

TTM18.93%

ROCE

10Y Avg53.97%

5Y Avg53.97%

3Y Avg58.74%

Latest64.4%

Peer Comparison

Payment Networks and Merchant Acquiring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VVisa Inc.	2.88B	320.14	31.39	11.34%	50.14%	53.62%	100%	0.66
MAMastercard Incorporated	457.84B	517.21	31.31	16.42%	45.65%	193.01%	3.75%	2.45
AXPAmerican Express Company	212.83B	308.90	22.03	10.15%	13.65%	32.52%	5.7%	1.69
PYPLPayPal Holdings, Inc.	42.51B	46.21	8.54	4.85%	15.7%	25.83%	13.09%	0.49
PMTSCPI Card Group Inc.	139.67M	12.27	7.48	8.11%	4.06%		24.38%
WUThe Western Union Company	3.04B	9.63	6.29	-4%	12.36%	52.16%	12.92%
CURRCurrenc Group, Inc.	160.12M	2.09	-2.03	-12.81%	-85.01%	-138.16%	1.79%
GDOTGreen Dot Corporation	640.67M	11.56	-23.12	14.82%	-1.55%	-5.14%	1.11%	0.07

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Net Interest Income+	-95M	-154M	-186M	-224M	-380M	-431M	-471M	-575M	-646M	-722M
NII Growth %	-55.74%	-62.11%	-20.78%	-20.43%	-69.64%	-13.42%	-9.28%	-22.08%	-12.35%	-11.76%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	95M	154M	186M	224M	380M	431M	471M	575M	646M	722M
Loan Loss Provision	2.13B	2.53B	3.03B	3.31B	3.41B	4.06B	4.79B	5.45B	6.03B	4.71B
Non-Interest Income+	10.78B	12.5B	14.95B	16.88B	15.3B	18.88B	22.24B	25.1B	28.17B	32.79B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	10.78B	12.5B	14.95B	16.88B	15.3B	18.88B	22.24B	25.1B	28.17B	32.79B
Revenue Growth %	11.47%	15.97%	19.63%	12.93%	-9.37%	23.42%	17.76%	12.87%	12.23%	16.42%
Non-Interest Expense	2.79B	3.19B	4.45B	3.68B	3.43B	4.31B	4.71B	5.07B	5.91B	7.96B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.76B	6.62B	7.28B	9.66B	8.08B	10.08B	12.26B	14.01B	15.58B	19.4B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	13.45%	14.95%	9.97%	32.71%	-16.38%	24.76%	21.64%	14.22%	11.24%	24.51%
Pretax Income+	5.65B	6.52B	7.2B	9.73B	7.76B	10.31B	11.73B	13.64B	15.25B	18.58B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.59B	2.61B	1.34B	1.61B	1.35B	1.62B	1.8B	2.44B	2.38B	3.61B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	6.59%	-3.55%	49.66%	38.56%	-21.03%	35.5%	14.31%	12.74%	15%	16.27%
Net Income (Continuing)	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
EPS (Diluted)+	3.69	3.65	5.60	7.94	6.37	8.76	10.23	11.83	13.89	16.52
EPS Growth %	10.15%	-1.08%	53.42%	41.79%	-19.77%	37.52%	16.78%	15.64%	17.41%	18.93%
EPS (Basic)	3.70	3.67	5.63	7.98	6.40	8.79	10.26	11.86	13.92	16.55
Diluted Shares Outstanding	1.1B	1.07B	1.05B	1.02B	1.01B	992M	971M	946M	927M	898M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash & Short Term Investments+	8.34B	7.78B	8.38B	7.68B	10.6B	7.89B	7.41B	9.18B	8.77B	11.46B
Cash & Due from Banks	6.72B	5.93B	6.68B	6.99B	10.11B	7.42B	7.01B	8.59B	8.44B	11.13B
Short Term Investments	1.61B	1.85B	1.7B	688M	483M	473M	400M	592M	330M	332M
Total Investments+	1.75B	2.1B	2.03B	1.6B	1.66B	2.31B	2.13B	2.32B	1.94B	332M
Investments Growth %	50.91%	20.16%	-3.1%	-21.2%	3.31%	39.4%	-7.67%	8.97%	-16.54%	-82.86%
Long-Term Investments	132M	249M	337M	914M	1.17B	1.83B	1.73B	1.73B	1.61B	0
Accounts Receivables	1.42B	1.97B	2.28B	2.51B	940M	3.01B	3.42B	4.06B	3.77B	4.61B
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.76B	3.04B	2.9B	4.02B	4.96B	7.66B	7.52B	7.66B	9.19B	9.56B
Intangible Assets	722M	1.12B	991M	1.42B	1.75B	3.67B	3.86B	4.09B	5.45B	5.55B
PP&E (Net)	733M	829M	921M	1.83B	1.9B	1.91B	2.01B	2.06B	2.14B	2.3B
Other Assets	1.8B	2.05B	2.97B	3.61B	4.19B	5.16B	5.85B	6.6B	8.35B	11.62B
Total Current Assets	13.23B	13.8B	16.17B	16.9B	19.11B	16.95B	16.61B	18.96B	19.72B	23.56B
Total Non-Current Assets	5.45B	7.53B	8.69B	12.33B	14.47B	20.72B	22.12B	23.49B	28.36B	30.6B
Total Assets+	18.68B	21.33B	24.86B	29.24B	33.58B	37.67B	38.72B	42.45B	48.08B	54.16B
Asset Growth %	14.92%	14.21%	16.55%	17.6%	14.87%	12.16%	2.8%	9.62%	13.27%	12.64%
Return on Assets (ROA)	23.24%	19.57%	25.37%	30.01%	20.41%	24.38%	26%	27.58%	28.44%	29.28%
Accounts Payable	609M	933M	537M	489M	527M	738M	926M	834M	929M	999M
Total Debt+	5.18B	5.42B	6.33B	8.53B	12.67B	13.9B	14.02B	15.68B	18.23B	19B
Net Debt	-1.54B	-509M	-348M	1.54B	2.56B	6.48B	7.01B	7.09B	9.78B	7.87B
Long-Term Debt	5.18B	5.42B	5.83B	8.53B	12.02B	13.11B	13.75B	14.34B	17.48B	18.25B
Short-Term Debt	0	0	500M	0	649M	792M	274M	1.34B	750M	749M
Other Liabilities	524M	1.44B	1.88B	2.73B	3.11B	3.59B	4.03B	4.47B	4.55B	5.09B
Total Current Liabilities	7.21B	8.79B	11.59B	11.9B	11.85B	13.16B	14.17B	16.26B	19.22B	22.76B
Total Non-Current Liabilities	5.79B	6.97B	7.78B	11.34B	15.22B	17.09B	18.18B	19.19B	22.35B	23.65B
Total Liabilities	12.99B	15.76B	19.37B	23.25B	27.07B	30.26B	32.35B	35.45B	41.57B	46.41B
Total Equity+	5.68B	5.57B	5.49B	5.99B	6.52B	7.41B	6.38B	7B	6.51B	7.75B
Equity Growth %	-6.24%	-2.04%	-1.42%	9.15%	8.78%	13.73%	-13.96%	9.72%	-6.89%	18.89%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	69.11%	69.59%	105.98%	141.43%	102.51%	124.73%	144.03%	167.41%	190.56%	209.92%
Book Value per Share	5.16	5.19	5.24	5.86	6.48	7.47	6.57	7.40	7.03	8.63
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	0	0	0	0	0	0	0	0	0
Additional Paid-in Capital	4.18B	4.37B	4.58B	4.79B	4.98B	5.06B	5.3B	5.89B	6.44B	6.91B
Retained Earnings	19.42B	22.36B	27.28B	33.98B	38.75B	45.65B	53.61B	62.56B	72.91B	85.03B
Accumulated OCI	-924M	-497M	-718M	-673M	-680M	-809M	-1.25B	-1.1B	-1.43B	-981M
Treasury Stock	-17.02B	-20.76B	-25.75B	-32.2B	-36.66B	-42.59B	-51.35B	-60.43B	-71.43B	-83.22B
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	4.48B	5.55B	6.22B	8.18B	7.22B	9.46B	11.2B	11.98B	14.78B	17.65B
Operating CF Growth %	10.91%	23.88%	12.03%	31.5%	-11.72%	30.99%	18.3%	7.01%	23.37%	19.4%
Net Income	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
Depreciation & Amortization	373M	437M	459M	522M	580M	726M	750M	799M	897M	2.1B
Deferred Taxes	-20M	86M	-244M	-7M	73M	-69M	-651M	-236M	-527M	57M
Other Non-Cash Items	889M	1.23B	1.27B	998M	1.06B	762M	1.77B	1.71B	2.05B	1.96B
Working Capital Changes	-867M	-286M	-1.31B	-1.7B	-1.15B	-916M	-904M	-1.94B	-1.04B	-2.03B
Cash from Investing+	-1.17B	-1.78B	-506M	-1.64B	-1.88B	-5.27B	-1.47B	-1.35B	-3.4B	-1.36B
Purchase of Investments	-1.82B	-2.01B	-1.9B	-1.32B	-807M	-911M	-594M	-736M	-658M	-868M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-167M	-1.18B	174M	-1.44B	-989M	-4.44B	-313M	0	-2.51B	0
Other Investing	134M	1M	-188M	-4M	3M	33M	-3M	-723M	-345M	-672M
Cash from Financing+	-2.29B	-4.76B	-4.97B	-5.87B	-2.15B	-6.55B	-10.33B	-9.49B	-10.84B	-14.18B
Dividends Paid	-837M	-942M	-1.04B	-1.34B	-1.6B	-1.74B	-1.9B	-2.16B	-2.45B	-2.76B
Share Repurchases	-3.51B	-3.76B	-4.93B	-6.5B	-4.47B	-5.9B	-8.75B	-9.03B	-11.04B	-11.73B
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Financing	134M	-53M	100M	-375M	117M	-345M	70M	237M	-201M	-188M
Net Change in Cash+	974M	-788M	745M	632M	3.45B	-2.52B	-706M	1.27B	343M	2.44B
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K
Cash at Beginning	5.75B	6.72B	7.59B	8.34B	8.97B	12.42B	9.9B	9.2B	10.46B	10.81B
Cash at End	6.72B	5.93B	8.34B	8.97B	12.42B	9.9B	9.2B	10.46B	10.81B	13.25B
Interest Paid	0	0	0	0	0	0	414M	477M	571M	0
Income Taxes Paid	0	0	0	0	0	0	2.51B	2.75B	3.25B	0
Free Cash Flow+	4.1B	5.13B	5.72B	7.46B	6.52B	8.65B	10.1B	11.61B	14.31B	17.16B
FCF Growth %	10.83%	25.11%	11.44%	30.35%	-12.6%	32.73%	16.75%	14.96%	23.23%	19.94%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	69.11%	69.59%	105.98%	141.43%	102.51%	124.73%	144.03%	167.41%	190.56%	209.92%
Return on Assets (ROA)	23.24%	19.57%	25.37%	30.01%	20.41%	24.38%	26%	27.58%	28.44%	29.28%
Net Interest Margin	-0.51%	-0.72%	-0.75%	-0.77%	-1.13%	-1.14%	-1.22%	-1.35%	-1.34%	-1.33%
Efficiency Ratio	25.89%	25.51%	29.79%	21.81%	22.44%	22.84%	21.18%	20.19%	20.99%	24.27%
Equity / Assets	30.44%	26.11%	22.08%	20.49%	19.41%	19.68%	16.47%	16.48%	13.55%	14.3%
Book Value / Share	5.16	5.19	5.24	5.86	6.48	7.47	6.57	7.4	7.03	8.63
NII Growth	-55.74%	-62.11%	-20.78%	-20.43%	-69.64%	-13.42%	-9.28%	-22.08%	-12.35%	-11.76%
Dividend Payout	20.62%	24.06%	17.82%	16.57%	25.04%	20.04%	19.16%	19.28%	19.02%	18.41%

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Mastercard Incorporated (MA) 10-Year Financial Performance & Capital Metrics

MA • • Banking & Credit

Financial ServicesCredit ServicesPayment Networks and Merchant Acquiring

Net Interest Income -$722M -11.8%
Total Revenue $32.79B +16.4%
Net Income $14.97B +16.3%
Return on Equity 209.92% +10.2%
Net Interest Margin -1.33% +0.8%
Efficiency Ratio 24.27% +15.6%
ROA 29.28% +2.9%
Equity / Assets 14.3% +5.6%
Book Value per Share 8.63 +22.7%
Tangible BV/Share -8.20 +6.5%
Debt/Equity 2.45 -12.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 189.3%
✓Strong 5Y profit CAGR of 18.5%
✓Strong Piotroski F-Score: 9/9
✓Efficient operations: 24.3% efficiency ratio
✓14 consecutive years of dividend growth
✓Well capitalized: 14.3% equity/assets

✗Weaknesses

✗High debt to equity ratio of 2.5x
✗Weak NIM of -1.3%
✗Expensive at 60.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.99%

5Y16.47%

3Y13.82%

TTM-

Profit (Net Income) CAGR

10Y14.67%

5Y18.48%

3Y14.66%

TTM16.27%

EPS CAGR

10Y17.3%

5Y21%

3Y17.32%

TTM18.93%

ROCE

10Y Avg53.97%

5Y Avg53.97%

3Y Avg58.74%

Latest64.4%

Peer Comparison

Payment Networks and Merchant Acquiring

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VVisa Inc.	2.88B	320.14	31.39	11.34%	50.14%	53.62%	100%	0.66
MAMastercard Incorporated	457.84B	517.21	31.31	16.42%	45.65%	193.01%	3.75%	2.45
AXPAmerican Express Company	212.83B	308.90	22.03	10.15%	13.65%	32.52%	5.7%	1.69
PYPLPayPal Holdings, Inc.	42.51B	46.21	8.54	4.85%	15.7%	25.83%	13.09%	0.49
PMTSCPI Card Group Inc.	139.67M	12.27	7.48	8.11%	4.06%		24.38%
WUThe Western Union Company	3.04B	9.63	6.29	-4%	12.36%	52.16%	12.92%
CURRCurrenc Group, Inc.	160.12M	2.09	-2.03	-12.81%	-85.01%	-138.16%	1.79%
GDOTGreen Dot Corporation	640.67M	11.56	-23.12	14.82%	-1.55%	-5.14%	1.11%	0.07

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Net Interest Income+	-95M	-154M	-186M	-224M	-380M	-431M	-471M	-575M	-646M	-722M
NII Growth %	-55.74%	-62.11%	-20.78%	-20.43%	-69.64%	-13.42%	-9.28%	-22.08%	-12.35%	-11.76%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	95M	154M	186M	224M	380M	431M	471M	575M	646M	722M
Loan Loss Provision	2.13B	2.53B	3.03B	3.31B	3.41B	4.06B	4.79B	5.45B	6.03B	4.71B
Non-Interest Income+	10.78B	12.5B	14.95B	16.88B	15.3B	18.88B	22.24B	25.1B	28.17B	32.79B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	10.78B	12.5B	14.95B	16.88B	15.3B	18.88B	22.24B	25.1B	28.17B	32.79B
Revenue Growth %	11.47%	15.97%	19.63%	12.93%	-9.37%	23.42%	17.76%	12.87%	12.23%	16.42%
Non-Interest Expense	2.79B	3.19B	4.45B	3.68B	3.43B	4.31B	4.71B	5.07B	5.91B	7.96B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.76B	6.62B	7.28B	9.66B	8.08B	10.08B	12.26B	14.01B	15.58B	19.4B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	13.45%	14.95%	9.97%	32.71%	-16.38%	24.76%	21.64%	14.22%	11.24%	24.51%
Pretax Income+	5.65B	6.52B	7.2B	9.73B	7.76B	10.31B	11.73B	13.64B	15.25B	18.58B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.59B	2.61B	1.34B	1.61B	1.35B	1.62B	1.8B	2.44B	2.38B	3.61B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	6.59%	-3.55%	49.66%	38.56%	-21.03%	35.5%	14.31%	12.74%	15%	16.27%
Net Income (Continuing)	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
EPS (Diluted)+	3.69	3.65	5.60	7.94	6.37	8.76	10.23	11.83	13.89	16.52
EPS Growth %	10.15%	-1.08%	53.42%	41.79%	-19.77%	37.52%	16.78%	15.64%	17.41%	18.93%
EPS (Basic)	3.70	3.67	5.63	7.98	6.40	8.79	10.26	11.86	13.92	16.55
Diluted Shares Outstanding	1.1B	1.07B	1.05B	1.02B	1.01B	992M	971M	946M	927M	898M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash & Short Term Investments+	8.34B	7.78B	8.38B	7.68B	10.6B	7.89B	7.41B	9.18B	8.77B	11.46B
Cash & Due from Banks	6.72B	5.93B	6.68B	6.99B	10.11B	7.42B	7.01B	8.59B	8.44B	11.13B
Short Term Investments	1.61B	1.85B	1.7B	688M	483M	473M	400M	592M	330M	332M
Total Investments+	1.75B	2.1B	2.03B	1.6B	1.66B	2.31B	2.13B	2.32B	1.94B	332M
Investments Growth %	50.91%	20.16%	-3.1%	-21.2%	3.31%	39.4%	-7.67%	8.97%	-16.54%	-82.86%
Long-Term Investments	132M	249M	337M	914M	1.17B	1.83B	1.73B	1.73B	1.61B	0
Accounts Receivables	1.42B	1.97B	2.28B	2.51B	940M	3.01B	3.42B	4.06B	3.77B	4.61B
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.76B	3.04B	2.9B	4.02B	4.96B	7.66B	7.52B	7.66B	9.19B	9.56B
Intangible Assets	722M	1.12B	991M	1.42B	1.75B	3.67B	3.86B	4.09B	5.45B	5.55B
PP&E (Net)	733M	829M	921M	1.83B	1.9B	1.91B	2.01B	2.06B	2.14B	2.3B
Other Assets	1.8B	2.05B	2.97B	3.61B	4.19B	5.16B	5.85B	6.6B	8.35B	11.62B
Total Current Assets	13.23B	13.8B	16.17B	16.9B	19.11B	16.95B	16.61B	18.96B	19.72B	23.56B
Total Non-Current Assets	5.45B	7.53B	8.69B	12.33B	14.47B	20.72B	22.12B	23.49B	28.36B	30.6B
Total Assets+	18.68B	21.33B	24.86B	29.24B	33.58B	37.67B	38.72B	42.45B	48.08B	54.16B
Asset Growth %	14.92%	14.21%	16.55%	17.6%	14.87%	12.16%	2.8%	9.62%	13.27%	12.64%
Return on Assets (ROA)	23.24%	19.57%	25.37%	30.01%	20.41%	24.38%	26%	27.58%	28.44%	29.28%
Accounts Payable	609M	933M	537M	489M	527M	738M	926M	834M	929M	999M
Total Debt+	5.18B	5.42B	6.33B	8.53B	12.67B	13.9B	14.02B	15.68B	18.23B	19B
Net Debt	-1.54B	-509M	-348M	1.54B	2.56B	6.48B	7.01B	7.09B	9.78B	7.87B
Long-Term Debt	5.18B	5.42B	5.83B	8.53B	12.02B	13.11B	13.75B	14.34B	17.48B	18.25B
Short-Term Debt	0	0	500M	0	649M	792M	274M	1.34B	750M	749M
Other Liabilities	524M	1.44B	1.88B	2.73B	3.11B	3.59B	4.03B	4.47B	4.55B	5.09B
Total Current Liabilities	7.21B	8.79B	11.59B	11.9B	11.85B	13.16B	14.17B	16.26B	19.22B	22.76B
Total Non-Current Liabilities	5.79B	6.97B	7.78B	11.34B	15.22B	17.09B	18.18B	19.19B	22.35B	23.65B
Total Liabilities	12.99B	15.76B	19.37B	23.25B	27.07B	30.26B	32.35B	35.45B	41.57B	46.41B
Total Equity+	5.68B	5.57B	5.49B	5.99B	6.52B	7.41B	6.38B	7B	6.51B	7.75B
Equity Growth %	-6.24%	-2.04%	-1.42%	9.15%	8.78%	13.73%	-13.96%	9.72%	-6.89%	18.89%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	69.11%	69.59%	105.98%	141.43%	102.51%	124.73%	144.03%	167.41%	190.56%	209.92%
Book Value per Share	5.16	5.19	5.24	5.86	6.48	7.47	6.57	7.40	7.03	8.63
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	0	0	0	0	0	0	0	0	0
Additional Paid-in Capital	4.18B	4.37B	4.58B	4.79B	4.98B	5.06B	5.3B	5.89B	6.44B	6.91B
Retained Earnings	19.42B	22.36B	27.28B	33.98B	38.75B	45.65B	53.61B	62.56B	72.91B	85.03B
Accumulated OCI	-924M	-497M	-718M	-673M	-680M	-809M	-1.25B	-1.1B	-1.43B	-981M
Treasury Stock	-17.02B	-20.76B	-25.75B	-32.2B	-36.66B	-42.59B	-51.35B	-60.43B	-71.43B	-83.22B
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	4.48B	5.55B	6.22B	8.18B	7.22B	9.46B	11.2B	11.98B	14.78B	17.65B
Operating CF Growth %	10.91%	23.88%	12.03%	31.5%	-11.72%	30.99%	18.3%	7.01%	23.37%	19.4%
Net Income	4.06B	3.92B	5.86B	8.12B	6.41B	8.69B	9.93B	11.2B	12.87B	14.97B
Depreciation & Amortization	373M	437M	459M	522M	580M	726M	750M	799M	897M	2.1B
Deferred Taxes	-20M	86M	-244M	-7M	73M	-69M	-651M	-236M	-527M	57M
Other Non-Cash Items	889M	1.23B	1.27B	998M	1.06B	762M	1.77B	1.71B	2.05B	1.96B
Working Capital Changes	-867M	-286M	-1.31B	-1.7B	-1.15B	-916M	-904M	-1.94B	-1.04B	-2.03B
Cash from Investing+	-1.17B	-1.78B	-506M	-1.64B	-1.88B	-5.27B	-1.47B	-1.35B	-3.4B	-1.36B
Purchase of Investments	-1.82B	-2.01B	-1.9B	-1.32B	-807M	-911M	-594M	-736M	-658M	-868M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-167M	-1.18B	174M	-1.44B	-989M	-4.44B	-313M	0	-2.51B	0
Other Investing	134M	1M	-188M	-4M	3M	33M	-3M	-723M	-345M	-672M
Cash from Financing+	-2.29B	-4.76B	-4.97B	-5.87B	-2.15B	-6.55B	-10.33B	-9.49B	-10.84B	-14.18B
Dividends Paid	-837M	-942M	-1.04B	-1.34B	-1.6B	-1.74B	-1.9B	-2.16B	-2.45B	-2.76B
Share Repurchases	-3.51B	-3.76B	-4.93B	-6.5B	-4.47B	-5.9B	-8.75B	-9.03B	-11.04B	-11.73B
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Financing	134M	-53M	100M	-375M	117M	-345M	70M	237M	-201M	-188M
Net Change in Cash+	974M	-788M	745M	632M	3.45B	-2.52B	-706M	1.27B	343M	2.44B
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K	1000K
Cash at Beginning	5.75B	6.72B	7.59B	8.34B	8.97B	12.42B	9.9B	9.2B	10.46B	10.81B
Cash at End	6.72B	5.93B	8.34B	8.97B	12.42B	9.9B	9.2B	10.46B	10.81B	13.25B
Interest Paid	0	0	0	0	0	0	414M	477M	571M	0
Income Taxes Paid	0	0	0	0	0	0	2.51B	2.75B	3.25B	0
Free Cash Flow+	4.1B	5.13B	5.72B	7.46B	6.52B	8.65B	10.1B	11.61B	14.31B	17.16B
FCF Growth %	10.83%	25.11%	11.44%	30.35%	-12.6%	32.73%	16.75%	14.96%	23.23%	19.94%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	69.11%	69.59%	105.98%	141.43%	102.51%	124.73%	144.03%	167.41%	190.56%	209.92%
Return on Assets (ROA)	23.24%	19.57%	25.37%	30.01%	20.41%	24.38%	26%	27.58%	28.44%	29.28%
Net Interest Margin	-0.51%	-0.72%	-0.75%	-0.77%	-1.13%	-1.14%	-1.22%	-1.35%	-1.34%	-1.33%
Efficiency Ratio	25.89%	25.51%	29.79%	21.81%	22.44%	22.84%	21.18%	20.19%	20.99%	24.27%
Equity / Assets	30.44%	26.11%	22.08%	20.49%	19.41%	19.68%	16.47%	16.48%	13.55%	14.3%
Book Value / Share	5.16	5.19	5.24	5.86	6.48	7.47	6.57	7.4	7.03	8.63
NII Growth	-55.74%	-62.11%	-20.78%	-20.43%	-69.64%	-13.42%	-9.28%	-22.08%	-12.35%	-11.76%
Dividend Payout	20.62%	24.06%	17.82%	16.57%	25.04%	20.04%	19.16%	19.28%	19.02%	18.41%

Mastercard Incorporated (MA) 10-Year Financial Performance & Capital Metrics

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Revenue History

Financial Ratios

Mastercard Incorporated (MA) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare MA vs Peers

vs AXP

vs PYPL

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Banking Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios