Mastercard is the second-largest payment processor in the world, having processed close to $11 trillion in volume during 2025. Mastercard operates in over 200 countries and processes transactions in over 150 currencies.
It is a $516B financial services company. Revenue grew 16.0% over the last year, and it keeps 46¢ of every dollar of sales as profit. It trades at 31.7× earnings — in the cheapest third of its own history.
- Website
- mastercard.com
- Location
- Purchase, NY
- Employees
- 39 800
- Sector
- Financial Services
- Founded
- 1966
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability, quality and moat; Health lags behind.
Valuation54
- P/E vs own history13th pct · 25/25
- FCF yield3.2% · 12/25
- P/S14.7x · 5/25
- EV/EBITDA24.4x · 12/25
Growth85
- Revenue CAGR14.8% · 20/25
- Net income CAGR14.6% · 20/25
- EPS CAGR ~5Y21.0% · 25/25
- Fwd implied growth26.9% · 20/25
Profitability100
- ROIC97.1% · 25/25
- ROE232.5% · 25/25
- Net margin46.3% · 25/25
- Operating margin58.3% · 25/25
Health49
- Altman Zn/a · 0/25
- Current ratio1.06 · 12/25
- Interest coverage32.1x · 25/25
- Net cash / debtD/A 14% · 12/25
Quality100
- Piotroski F8/9 · 25/25
- Beneish M-2.54 · 25/25
- FCF conversion103% · 25/25
- Margin stabilityσ 2.3% · 25/25
Moat100
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin100.0% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 31.3% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionMastercard announced its biggest digital currencies deal through the $1.8 billion acquisition of…
- FY2025FinancialBest year on record$15.0B net income
- 2024AcquisitionMastercard acquired cybersecurity company Recorded Future for $2.65 billion
- 2019MilestoneDropped the name from the logothe two circles alone — a brand-fame milestone
- 2019AcquisitionMastercard launched an offer to acquire part of the operations of Nets, a Scandinavian company, for…
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$10.8B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2014AcquisitionMastercard acquired Australian rewards program manager company Pinpoint for an undisclosed amount
- 2010AcquisitionMastercard Worldwide, as it had been rebranded, expanded its e-commerce offering with the…
- May 25, 2006IPOIPO on NYSEwent public at $39 per share
- 1985AcquisitionMastercard acquired the Cirrus network of automated tellers in 1985
- 1983MilestoneThe company became the first card-issuer to use holograms as part of its credit card security
- 1979MilestoneRenamed MasterCard
- 1969ProductMaster Chargethe interlocking-circles brand is born
- 1966FoundedInterbank Card Associationa bank consortium's answer to BankAmericard
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Strongly profitable — 46.3% net margin
- Revenue growing 16.0% year over year
- Strong cash conversion — FCF is 47.6% of revenue
- Interest covered 32.1× by operating earnings
- High returns on invested capital (ROIC 97.1%)
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+16.0% YoY
- Profitable — makes more than it spends$16.3B TTM
- Profit growing — earnings are higher than last year+17.3% YoY
- Generates cash — cash left after running and investing$16.7B TTM
- Debt under control — could handle its obligations~0.5y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$516B market cap
- Not printing shares — share count not ballooning — you keep your slice-9.9% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 37/100
- Pays a dividend — returns cash to shareholdersyield 0.57%
- Valuation not extreme — price not wildly above earningsP/E 31.7
Peer comparisonMastercard Incorporated vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MA this company | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
| MS Morgan Stanley | $299.6B | 14.8 | +18.0% | 25.8% | Strained |
Head-to-head: MA vs BRK.A · MA vs BRK.B · MA vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MA
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of MA on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $589.50 · market cap $516B.