Mastercard Incorporated Financials
This page shows Mastercard Incorporated (MA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Mastercard Incorporated has an operating margin of 57.6%, meaning the company retains $58 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 55.3% the prior year.
Mastercard Incorporated's revenue declined 100% year-over-year, from $28.2B to $33K. This contraction results in a growth score of 0/100.
Mastercard Incorporated has elevated debt relative to equity (D/E of 2.36), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.
Mastercard Incorporated's current ratio of 1.03 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.
Mastercard Incorporated converts 52.3% of revenue into free cash flow ($17K). This strong cash generation earns a score of 100/100.
Mastercard Incorporated earns a strong 193.5% return on equity (ROE), meaning it generates $193 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 198.5% the prior year.
Mastercard Incorporated scores 5976343.58, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($462.3B) relative to total liabilities ($46K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Mastercard Incorporated passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Mastercard Incorporated generates $1.18 in operating cash flow ($18K OCF vs $15K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Mastercard Incorporated earns $27.8 in operating income for every $1 of interest expense ($19K vs $680). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Mastercard Incorporated generated $33K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Mastercard Incorporated's EBITDA was $20K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Mastercard Incorporated generated $17K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Mastercard Incorporated reported $15K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Mastercard Incorporated earned $16.52 per diluted share (EPS) in fiscal year 2025. This represents an increase of 18.9% from the prior year.
Mastercard Incorporated held $11K in cash against $18K in long-term debt as of fiscal year 2025.
Mastercard Incorporated paid $3.15 per share in dividends in fiscal year 2025. This represents an increase of 15.0% from the prior year.
Mastercard Incorporated had 885M shares outstanding in fiscal year 2025.
Mastercard Incorporated's operating margin was 57.6% in fiscal year 2025, reflecting core business profitability. This is up 2.3 percentage points from the prior year.
Mastercard Incorporated's net profit margin was 45.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.
Mastercard Incorporated's ROE was 193.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.1 percentage points from the prior year.
Mastercard Incorporated spent $12K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Mastercard Incorporated invested $489 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
MA Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.8B+2.4% | $8.6B+5.8% | $8.1B+12.2% | $7.3B-3.2% | $7.5B+1.6% | $7.4B+5.9% | $7.0B+9.7% | $6.3B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3.1B+6.3% | $2.9B+5.7% | $2.8B+9.6% | $2.5B-8.1% | $2.7B0.0% | $2.7B+13.5% | $2.4B+5.8% | $2.3B |
| Operating Income | $4.9B-3.0% | $5.1B+5.9% | $4.8B+15.1% | $4.1B+5.4% | $3.9B-1.6% | $4.0B-0.8% | $4.0B+12.0% | $3.6B |
| Interest Expense | $117.0M-37.1% | $186.0M-4.6% | $195.0M+7.1% | $182.0M+67.0% | $109.0M-31.4% | $159.0M+3.9% | $153.0M+2.0% | $150.0M |
| Income Tax | $816.0M-23.9% | $1.1B+10.4% | $971.0M+29.3% | $751.0M+36.8% | $549.0M-9.0% | $603.0M-11.5% | $681.0M+24.5% | $547.0M |
| Net Income | $4.1B+3.4% | $3.9B+6.1% | $3.7B+12.8% | $3.3B-1.9% | $3.3B+2.4% | $3.3B+0.2% | $3.3B+8.2% | $3.0B |
| EPS (Diluted) | $4.52+4.1% | $4.34+6.6% | $4.07+13.4% | $3.59-1.4% | $3.64+3.1% | $3.53+0.9% | $3.50+8.7% | $3.22 |
MA Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $54.2B+1.6% | $53.3B+3.6% | $51.4B+6.1% | $48.5B+0.8% | $48.1B+1.8% | $47.2B+11.6% | $42.3B-0.6% | $42.6B |
| Current Assets | $23.6B+1.4% | $23.2B+4.9% | $22.1B+11.8% | $19.8B+0.4% | $19.7B-11.6% | $22.3B+25.4% | $17.8B-3.5% | $18.4B |
| Cash & Equivalents | $10.6B+2.5% | $10.3B+14.2% | $9.0B+19.2% | $7.6B-10.3% | $8.4B-23.7% | $11.1B+58.1% | $7.0B-4.1% | $7.3B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $4.6B+8.5% | $4.2B+1.5% | $4.2B+5.5% | $4.0B+5.1% | $3.8B-6.0% | $4.0B-4.3% | $4.2B-0.9% | $4.2B |
| Goodwill | $9.6B-0.1% | $9.6B-0.3% | $9.6B+2.6% | $9.4B+1.7% | $9.2B+19.1% | $7.7B+2.1% | $7.6B+0.2% | $7.5B |
| Total Liabilities | $46.4B+2.3% | $45.4B+4.2% | $43.6B+4.3% | $41.8B+0.5% | $41.6B+4.6% | $39.7B+14.0% | $34.9B-1.3% | $35.3B |
| Current Liabilities | $22.8B+10.0% | $20.7B+8.7% | $19.0B+6.7% | $17.8B-7.2% | $19.2B+11.1% | $17.3B+10.9% | $15.6B-7.8% | $16.9B |
| Long-Term Debt | $18.3B-3.9% | $19.0B+0.1% | $19.0B+0.9% | $18.8B+7.6% | $17.5B-0.7% | $17.6B+21.3% | $14.5B+7.2% | $13.5B |
| Total Equity | $7.7B-2.1% | $7.9B+0.6% | $7.9B+17.7% | $6.7B+2.9% | $6.5B-12.8% | $7.4B+0.3% | $7.4B+2.5% | $7.2B |
| Retained Earnings | $85.0B+4.0% | $81.8B+4.1% | $78.5B+4.0% | $75.5B+3.5% | $72.9B+3.8% | $70.3B+3.9% | $67.6B+4.1% | $65.0B |
MA Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.0B-11.7% | $5.7B+23.0% | $4.6B+93.4% | $2.4B-50.8% | $4.8B-5.9% | $5.1B+63.7% | $3.1B+87.7% | $1.7B |
| Capital Expenditures | $112.0M-37.1% | $178.0M+345.0% | $40.0M-74.8% | $159.0M+67.4% | $95.0M-11.2% | $107.0M-7.0% | $115.0M-26.8% | $157.0M |
| Free Cash Flow | $4.9B-10.8% | $5.5B+20.2% | $4.6B+105.4% | $2.2B-53.1% | $4.7B-5.8% | $5.0B+66.4% | $3.0B+99.5% | $1.5B |
| Investing Cash Flow | -$421.0M-12.6% | -$374.0M-64.8% | -$227.0M+33.2% | -$340.0M+87.3% | -$2.7B-946.1% | -$256.0M+12.9% | -$294.0M-69.0% | -$174.0M |
| Financing Cash Flow | -$4.2B-4.7% | -$4.0B-33.1% | -$3.0B-0.6% | -$3.0B+26.1% | -$4.0B-371.5% | -$857.0M+73.7% | -$3.3B-21.5% | -$2.7B |
| Dividends Paid | $684.0M-0.4% | $687.0M-0.6% | $691.0M-0.4% | $694.0M+14.5% | $606.0M-0.8% | $611.0M-0.7% | $615.0M-0.2% | $616.0M |
| Share Buybacks | $3.6B+6.8% | $3.3B+45.5% | $2.3B-10.2% | $2.5B-24.8% | $3.4B+15.5% | $2.9B+11.2% | $2.6B+32.5% | $2.0B |
MA Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 55.8%-3.1pp | 58.8%+0.1pp | 58.7%+1.5pp | 57.2%+4.6pp | 52.6%-1.8pp | 54.3%-3.6pp | 58.0%+1.2pp | 56.8% |
| Net Margin | 46.1%+0.5pp | 45.6%+0.1pp | 45.5%+0.3pp | 45.2%+0.6pp | 44.6%+0.3pp | 44.3%-2.5pp | 46.8%-0.6pp | 47.4% |
| Return on Equity | 52.5%+2.8pp | 49.7%+2.6pp | 47.1%-2.0pp | 49.2%-2.4pp | 51.5%+7.7pp | 43.9%-0.0pp | 43.9%+2.3pp | 41.6% |
| Return on Assets | 7.5%+0.1pp | 7.4%+0.2pp | 7.2%+0.4pp | 6.8%-0.2pp | 7.0%+0.0pp | 6.9%-0.8pp | 7.7%+0.6pp | 7.1% |
| Current Ratio | 1.03-0.1 | 1.12-0.0 | 1.16+0.1 | 1.11+0.1 | 1.03-0.3 | 1.29+0.1 | 1.14+0.1 | 1.09 |
| Debt-to-Equity | 2.36-0.0 | 2.40-0.0 | 2.42-0.4 | 2.82+0.1 | 2.69+0.3 | 2.37+0.4 | 1.96+0.1 | 1.87 |
| FCF Margin | 55.5%-8.2pp | 63.8%+7.7pp | 56.1%+25.5pp | 30.6%-32.6pp | 63.3%-5.0pp | 68.3%+24.8pp | 43.4%+19.6pp | 23.9% |
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Frequently Asked Questions
What is Mastercard Incorporated's annual revenue?
Mastercard Incorporated (MA) reported $33K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mastercard Incorporated's revenue growing?
Mastercard Incorporated (MA) revenue declined by 100% year-over-year, from $28.2B to $33K in fiscal year 2025.
Is Mastercard Incorporated profitable?
Yes, Mastercard Incorporated (MA) reported a net income of $15K in fiscal year 2025, with a net profit margin of 45.6%.
What is Mastercard Incorporated's earnings per share (EPS)?
Mastercard Incorporated (MA) reported diluted earnings per share of $16.52 for fiscal year 2025. This represents a 18.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Mastercard Incorporated's EBITDA?
Mastercard Incorporated (MA) had EBITDA of $20K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mastercard Incorporated have?
As of fiscal year 2025, Mastercard Incorporated (MA) had $11K in cash and equivalents against $18K in long-term debt.
What is Mastercard Incorporated's operating margin?
Mastercard Incorporated (MA) had an operating margin of 57.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mastercard Incorporated's net profit margin?
Mastercard Incorporated (MA) had a net profit margin of 45.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Mastercard Incorporated pay dividends?
Yes, Mastercard Incorporated (MA) paid $3.15 per share in dividends during fiscal year 2025.
What is Mastercard Incorporated's return on equity (ROE)?
Mastercard Incorporated (MA) has a return on equity of 193.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mastercard Incorporated's free cash flow?
Mastercard Incorporated (MA) generated $17K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mastercard Incorporated's operating cash flow?
Mastercard Incorporated (MA) generated $18K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mastercard Incorporated's total assets?
Mastercard Incorporated (MA) had $54K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mastercard Incorporated's capital expenditures?
Mastercard Incorporated (MA) invested $489 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Mastercard Incorporated buy back shares?
Yes, Mastercard Incorporated (MA) spent $12K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Mastercard Incorporated have outstanding?
Mastercard Incorporated (MA) had 885M shares outstanding as of fiscal year 2025.
What is Mastercard Incorporated's current ratio?
Mastercard Incorporated (MA) had a current ratio of 1.03 as of fiscal year 2025, which is considered adequate.
What is Mastercard Incorporated's debt-to-equity ratio?
Mastercard Incorporated (MA) had a debt-to-equity ratio of 2.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mastercard Incorporated's return on assets (ROA)?
Mastercard Incorporated (MA) had a return on assets of 27.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mastercard Incorporated's Altman Z-Score?
Mastercard Incorporated (MA) has an Altman Z-Score of 5976343.58, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mastercard Incorporated's Piotroski F-Score?
Mastercard Incorporated (MA) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mastercard Incorporated's earnings high quality?
Mastercard Incorporated (MA) has an earnings quality ratio of 1.18x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mastercard Incorporated cover its interest payments?
Mastercard Incorporated (MA) has an interest coverage ratio of 27.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mastercard Incorporated?
Mastercard Incorporated (MA) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.