Mastercard Incorporated (MA) Financial Ratios
25 years of historical data (2001–2025) · Financial Services · Financial - Credit Services
EV/EBITDA
↓
21.52
↓-25% vs avg
5yr avg: 28.67
30Y Low9.1·High41.8
P/FCF
↓
25.64
↓-26% vs avg
5yr avg: 34.77
30Y Low19.0·High76.5
P/B Ratio
↑
56.78
-5% vs avg
5yr avg: 59.96
30Y Low5.6·High74.9
ROE
↑
209.9%
↓+25% vs avg
5yr avg: 167.3%
30Y Low-45%·High210%
Debt/EBITDA
↓
0.92
↓-15% vs avg
5yr avg: 1.09
30Y Low0.0·High1.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Mastercard Incorporated trades at 29.6x earnings, 19% below its 5-year average of 36.7x, sitting at the 44th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 118%. On a free-cash-flow basis, the stock trades at 25.6x P/FCF, 26% below the 5-year average of 34.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $433.6B | $512.7B | $488.1B | $403.5B | $337.6B | $356.4B | $359.1B | $305.2B | $197.5B | $162.3B | $113.7B |
| Enterprise Value | $442.0B | $521.1B | $497.9B | $410.6B | $344.7B | $362.9B | $361.6B | $306.7B | $197.2B | $161.7B | $112.1B |
| P/E Ratio → | 29.65 | 34.56 | 37.91 | 36.05 | 33.99 | 41.02 | 56.03 | 37.61 | 33.69 | 41.47 | 27.98 |
| P/S Ratio | 13.22 | 15.63 | 17.33 | 16.08 | 15.18 | 18.88 | 23.47 | 18.07 | 13.21 | 12.98 | 10.55 |
| P/B Ratio | 56.78 | 66.18 | 74.92 | 57.66 | 52.95 | 48.09 | 55.10 | 50.94 | 35.98 | 29.14 | 20.00 |
| P/FCF | 25.64 | 30.31 | 34.12 | 34.76 | 33.44 | 41.21 | 55.11 | 40.93 | 34.54 | 31.62 | 27.71 |
| P/OCF | 24.92 | 29.46 | 33.03 | 33.68 | 30.16 | 37.67 | 49.71 | 37.29 | 31.74 | 29.21 | 25.35 |
P/E links to full P/E history page with 30-year chart
MA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Mastercard Incorporated's enterprise value stands at 21.5x EBITDA, 25% below its 5-year average of 28.7x. The Financial Services sector median is 11.4x, placing the stock at a 89% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.89 | 17.68 | 16.36 | 15.50 | 19.22 | 23.64 | 18.17 | 13.19 | 12.94 | 10.41 |
| EV / EBITDA | 21.52 | 25.36 | 30.22 | 27.73 | 26.48 | 33.58 | 41.76 | 30.11 | 25.47 | 22.91 | 18.28 |
| EV / EBIT | 22.78 | 27.35 | 31.32 | 28.89 | 28.24 | 33.80 | 44.43 | 30.81 | 26.68 | 24.23 | 19.53 |
| EV / FCF | — | 30.81 | 34.80 | 35.37 | 34.13 | 41.96 | 55.50 | 41.14 | 34.48 | 31.52 | 27.34 |
MA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Mastercard Incorporated earns an operating margin of 59.2%, significantly above the Financial Services sector average of 20.3%. Operating margins have expanded from 55.8% to 59.2% over the past 3 years, signaling improving operational efficiency. Return on equity of 209.9% is exceptionally high, though this is partly amplified by negative book value driven by aggressive share buybacks — well above the sector median of 9.0%. ROIC of 56.5% represents excellent returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.4% | 83.4% | 76.3% | 76.0% | 76.3% | 76.2% | 75.3% | 79.0% | 78.5% | 78.5% | 79.4% |
| Operating Margin | 59.2% | 59.2% | 55.3% | 55.8% | 55.2% | 53.4% | 52.8% | 57.2% | 48.7% | 53.0% | 53.5% |
| Net Profit Margin | 45.6% | 45.6% | 45.7% | 44.6% | 44.7% | 46.0% | 41.9% | 48.1% | 39.2% | 31.3% | 37.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 209.9% | 209.9% | 190.6% | 167.4% | 144.0% | 124.7% | 102.5% | 141.4% | 106.0% | 69.6% | 69.1% |
| ROA | 29.3% | 29.3% | 28.4% | 27.6% | 26.0% | 24.4% | 20.4% | 30.0% | 25.4% | 19.6% | 23.2% |
| ROIC | 56.5% | 56.5% | 49.3% | 48.8% | 44.1% | 37.3% | 36.0% | 55.0% | 47.9% | 45.4% | 42.8% |
| ROCE | 64.4% | 64.4% | 56.6% | 55.2% | 50.0% | 43.6% | 41.4% | 63.2% | 56.4% | 55.2% | 53.7% |
MA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Mastercard Incorporated carries a Debt/EBITDA ratio of 0.9x, which is very conservative (78% below the sector average of 4.3x). Net debt stands at $8.4B ($19.0B total debt minus $10.6B cash). Interest coverage of 26.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.45 | 2.45 | 2.80 | 2.24 | 2.20 | 1.88 | 1.94 | 1.42 | 1.15 | 0.97 | 0.91 |
| Debt / EBITDA | 0.92 | 0.92 | 1.11 | 1.06 | 1.08 | 1.29 | 1.46 | 0.84 | 0.82 | 0.77 | 0.84 |
| Net Debt / Equity | — | 1.09 | 1.50 | 1.01 | 1.10 | 0.87 | 0.39 | 0.26 | -0.06 | -0.09 | -0.27 |
| Net Debt / EBITDA | 0.41 | 0.41 | 0.59 | 0.48 | 0.54 | 0.60 | 0.30 | 0.15 | -0.04 | -0.07 | -0.25 |
| Debt / FCF | — | 0.50 | 0.68 | 0.61 | 0.69 | 0.75 | 0.39 | 0.21 | -0.06 | -0.10 | -0.38 |
| Interest Coverage | 26.39 | 26.39 | 24.61 | 24.72 | 25.91 | 24.91 | 21.42 | 44.44 | 39.73 | 43.35 | 60.43 |
MA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.03x means Mastercard Incorporated can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.17x to 1.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.03 | 1.03 | 1.03 | 1.17 | 1.17 | 1.29 | 1.61 | 1.42 | 1.39 | 1.57 | 1.84 |
| Quick Ratio | 1.03 | 1.03 | 1.03 | 1.17 | 1.17 | 1.29 | 1.61 | 1.42 | 1.39 | 1.57 | 1.84 |
| Cash Ratio | 0.46 | 0.46 | 0.44 | 0.53 | 0.49 | 0.56 | 0.85 | 0.59 | 0.58 | 0.67 | 0.93 |
| Asset Turnover | — | 0.61 | 0.59 | 0.59 | 0.57 | 0.50 | 0.46 | 0.58 | 0.60 | 0.59 | 0.58 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Mastercard Incorporated returns 3.3% to shareholders annually — split between a 0.6% dividend yield and 2.7% buyback yield. The payout ratio of 18.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 18.4% | 18.4% | 19.0% | 19.3% | 19.2% | 20.0% | 25.0% | 16.6% | 17.8% | 24.1% | 20.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 2.9% | 2.6% | 2.8% | 2.9% | 2.4% | 1.8% | 2.7% | 3.0% | 2.4% | 3.6% |
| FCF Yield | 3.9% | 3.3% | 2.9% | 2.9% | 3.0% | 2.4% | 1.8% | 2.4% | 2.9% | 3.2% | 3.6% |
| Buyback Yield | 2.7% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.3% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $898M | $927M | $946M | $971M | $992M | $1.0B | $1.0B | $1.0B | $1.1B | $1.1B |
Peer Comparison
Compare MA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MAYou | $434B | 29.6 | 21.5 | 25.6 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 V | $628B | 32.1 | 25.1 | 29.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 AXP | $232B | 22.0 | 15.5 | 14.5 | 83.2% | 17.1% | 34.0% | 12.0% | 3.7 |
 PYPL | $37B | 7.9 | 5.6 | 6.7 | 46.6% | 18.3% | 25.7% | 15.0% | 1.4 |
 FIS | $20B | 50.9 | 6.4 | 7.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISV | $26B | 7.5 | 6.1 | 5.9 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
 GPN | $16B | 11.5 | 10.1 | 7.8 | 72.6% | 19.1% | 6.0% | 3.0% | 7.6 |
 WEX | $4B | 15.1 | 8.3 | 14.1 | 54.9% | 25.4% | 22.3% | 9.6% | 4.8 |
 JPM | $909B | 16.2 | 18.5 | 9.0 | 59.9% | 26.0% | 16.1% | 4.5% | 11.6 |
 BAC | $424B | 14.7 | 14.0 | 33.6 | 56.1% | 19.7% | 10.2% | 3.5% | 9.1 |
 COF | $125B | 50.0 | 15.7 | 4.8 | 47.3% | 3.3% | 2.8% | 1.3% | 6.8 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 25 years · Updated daily
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MA — Frequently Asked Questions
Quick answers to the most common questions about buying MA stock.
What is Mastercard Incorporated's P/E ratio?
Mastercard Incorporated's current P/E ratio is 29.6x. The historical average is 32.4x. This places it at the 44th percentile of its historical range.
What is Mastercard Incorporated's EV/EBITDA?
Mastercard Incorporated's current EV/EBITDA is 21.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.8x.
What is Mastercard Incorporated's ROE?
Mastercard Incorporated's return on equity (ROE) is 209.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 69.2%.
Is MA stock overvalued?
Based on historical data, Mastercard Incorporated is trading at a P/E of 29.6x. This is at the 44th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Mastercard Incorporated's dividend yield?
Mastercard Incorporated's current dividend yield is 0.63% with a payout ratio of 18.4%.
What are Mastercard Incorporated's profit margins?
Mastercard Incorporated has 83.4% gross margin and 59.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Mastercard Incorporated have?
Mastercard Incorporated's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.