Mastercard Incorporated logo MA.BA - Mastercard Incorporated

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STRONG
BUY
1
BUY 31
HOLD 7
SELL 1
STRONG
SELL
0
Metric 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2
Revenue
Revenue 8,602.0 8,133.0 7,250.0 7,489.0 7,369.0 6,961.0 6,348.0 6,548.0 6,533.0 6,269.0
Cost of Revenue 1,893.0 1,852.0 1,688.0 1,653.0 1,899.0 1,607.0 1,514.0 1,528.0 1,573.0 1,495.0
Gross Profit 6,709.0 6,281.0 5,562.0 5,836.0 5,470.0 5,354.0 4,834.0 5,020.0 4,960.0 4,774.0
Operating Expenses
R&D Expenses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
SG&A Expenses 1,648.0 1,086.0 986.0 1,371.0 1,049.0 990.0 860.0 1,117.0 880.0 882.0
Other Expenses 0.0 418.0 427.0 527.0 417.0 328.0 370.0 531.0 236.0 236.0
Operating Expenses 1,648.0 1,504.0 1,413.0 1,898.0 1,466.0 1,318.0 1,230.0 1,648.0 1,116.0 1,118.0
Operating Income
Operating Income 5,061.0 4,777.0 4,149.0 3,938.0 4,004.0 4,036.0 3,604.0 3,372.0 3,844.0 3,656.0
Interest Expense 186.0 195.0 182.0 184.0 159.0 153.0 150.0 148.0 151.0 144.0
Interest Income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Profitability
EBITDA 5,351.0 5,148.0 4,488.0 4,306.0 4,248.0 4,317.0 3,924.0 3,674.0 4,123.0 4,040.0
EBIT 5,061.0 4,867.0 4,213.0 4,075.0 4,025.0 4,092.0 3,708.0 3,469.0 3,912.0 3,848.0
Income Before Tax 4,999.0 4,672.0 4,031.0 3,891.0 3,866.0 3,939.0 3,558.0 3,321.0 3,761.0 3,704.0
Income Tax Expense 1,072.0 971.0 751.0 549.0 603.0 681.0 547.0 530.0 563.0 859.0
Net Income 3,927.0 3,701.0 3,280.0 3,342.0 3,263.0 3,258.0 3,011.0 2,791.0 3,198.0 2,845.0
Per Share Data
EPS (Basic) 4.35 4.06 3.60 3.60 3.52 3.51 3.23 2.98 3.40 3.01
EPS (Diluted) 4.34 4.05 3.59 3.64 3.53 3.50 3.22 2.97 3.39 3.00
Shares Outstanding 903.0 912.0 912.0 927.9 927.9 930.9 935.1 938.5 943.4 948.3
Metric 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2
Current Assets
Cash & Cash Equivalents 10,313.0 9,031.0 7,575.0 8,442.0 11,063.0 6,996.0 7,293.0 8,588.0 6,890.0 6,170.0
Short-Term Investments 335.0 336.0 319.0 330.0 338.0 362.0 364.0 592.0 602.0 344.0
Net Receivables 4,247.0 4,184.0 3,965.0 3,773.0 4,014.0 4,195.0 4,231.0 4,060.0 3,925.0 3,763.0
Inventory 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other Current Assets 8,328.0 8,589.0 7,945.0 7,179.0 6,885.0 6,227.0 6,536.0 5,721.0 5,542.0 6,188.0
Total Current Assets 23,223.0 22,140.0 19,804.0 19,724.0 22,300.0 17,780.0 18,424.0 18,961.0 16,983.0 16,530.0
Non-Current Assets
Property, Plant & Equipment 2,299.0 2,225.0 2,171.0 2,138.0 2,176.0 2,148.0 2,077.0 2,061.0 1,972.0 1,986.0
Goodwill 9,574.0 9,598.0 9,352.0 9,193.0 7,721.0 7,563.0 7,545.0 7,660.0 7,488.0 7,579.0
Intangible Assets 5,591.0 5,629.0 5,533.0 5,453.0 4,235.0 4,149.0 4,123.0 4,086.0 4,022.0 4,049.0
Long-Term Investments 0.0 1,638.0 1,598.0 1,607.0 1,601.0 1,709.0 1,737.0 1,729.0 1,650.0 1,664.0
Other Non-Current Assets 11,056.0 8,631.0 8,437.0 8,352.0 7,592.0 7,561.0 7,367.0 6,596.0 6,189.0 6,075.0
Total Non-Current Assets 30,066.0 29,291.0 28,666.0 28,357.0 24,937.0 24,553.0 24,178.0 23,487.0 22,691.0 22,474.0
Total Assets 53,289.0 51,431.0 48,470.0 48,081.0 47,237.0 42,333.0 42,602.0 42,448.0 39,674.0 39,004.0
Current Liabilities
Account Payables 935.0 818.0 993.0 929.0 911.0 835.0 790.0 834.0 589.0 643.0
Short-Term Debt 0.0 0.0 0.0 750.0 750.0 1,086.0 2,086.0 1,337.0 1,337.0 1,336.0
Deferred Revenue 2,054.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other Current Liabilities 5,725.0 7,060.0 6,515.0 6,218.0 13,983.0 5,141.0 5,372.0 4,853.0 4,343.0 4,461.0
Total Current Liabilities 20,693.0 19,029.0 17,828.0 19,220.0 17,294.0 15,594.0 16,905.0 16,264.0 14,519.0 14,636.0
Non-Current Liabilities
Long-Term Debt 18,983.0 18,970.0 18,802.0 17,476.0 17,608.0 14,519.0 13,543.0 14,344.0 14,229.0 14,284.0
Deferred Tax Liabilities 326.0 361.0 315.0 317.0 349.0 337.0 345.0 369.0 385.0 395.0
Other Non-Current Liabilities 5,368.0 5,197.0 4,829.0 4,553.0 4,488.0 4,401.0 4,501.0 4,474.0 4,160.0 4,110.0
Total Non-Current Liabilities 24,677.0 24,528.0 23,946.0 22,346.0 22,445.0 19,257.0 18,389.0 19,187.0 18,774.0 18,789.0
Total Liabilities 45,370.0 43,557.0 41,774.0 41,566.0 39,739.0 34,851.0 35,294.0 35,451.0 33,293.0 33,425.0
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 81,752.0 78,509.0 75,495.0 72,907.0 70,258.0 67,604.0 64,959.0 62,564.0 60,390.0 57,730.0
Accumulated Other Comprehensive Income (935.0) (919.0) (1,155.0) (1,433.0) (1,073.0) (1,205.0) (1,202.0) (1,099.0) (1,297.0) (1,189.0)
Total Stockholders' Equity 7,919.0 7,853.0 6,671.0 6,485.0 7,440.0 7,421.0 7,243.0 6,929.0 6,311.0 5,504.0
Total Liabilities & Equity 53,289.0 51,431.0 48,470.0 48,081.0 47,237.0 42,333.0 42,602.0 42,448.0 39,674.0 39,004.0
Debt Metrics
Total Debt 18,983.0 18,970.0 18,802.0 18,226.0 18,358.0 15,605.0 15,629.0 15,681.0 15,566.0 15,620.0
Net Debt 8,670.0 9,939.0 11,227.0 9,784.0 7,295.0 8,609.0 8,336.0 7,093.0 8,676.0 9,450.0
Metric 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2
Operating Activities
Net Income 3,927.0 3,701.0 3,280.0 3,342.0 3,263.0 3,258.0 3,011.0 2,791.0 3,198.0 2,845.0
Depreciation & Amortization 533.0 281.0 275.0 231.0 225.0 225.0 216.0 205.0 211.0 192.0
Stock-Based Compensation 177.0 179.0 129.0 108.0 155.0 155.0 108.0 86.0 131.0 135.0
Change in Working Capital (292.0) (137.0) (1,884.0) 883.0 1,060.0 (880.0) (2,103.0) (173.0) 43.0 (373.0)
Other Non-Cash Items 1,322.0 535.0 543.0 536.0 601.0 476.0 437.0 1,218.0 (87.0) (254.0)
Operating Cash Flow 5,663.0 4,603.0 2,380.0 4,834.0 5,136.0 3,138.0 1,672.0 4,130.0 3,233.0 2,698.0
Investing Activities
Capital Expenditure (178.0) (209.0) (357.0) (250.0) (270.0) (296.0) (378.0) (77.0) (104.0) (80.0)
Acquisitions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12.0 286.0 (16.0)
Purchases of Investments (144.0) (142.0) (127.0) (118.0) (240.0) (139.0) (161.0) (104.0) (391.0) (143.0)
Sales/Maturities of Investments 124.0 137.0 141.0 203.0 258.0 130.0 373.0 92.0 105.0 159.0
Other Investing Activities (176.0) (182.0) (195.0) (2,668.0) (167.0) (170.0) (229.0) (137.0) (418.0) (138.0)
Investing Cash Flow (374.0) (227.0) (340.0) (2,678.0) (256.0) (294.0) (174.0) (214.0) (522.0) (218.0)
Financing Activities
Net Debt Issuance 0.0 0.0 492.0 0.0 2,641.0 (17.0) 0.0 0.0 4.0 61.0
Stock Repurchased 4,838.0 (2,289.0) (2,549.0) (3,470.0) (2,934.0) (2,639.0) (1,992.0) (1,832.0) (1,906.0) (2,416.0)
Dividends Paid (687.0) (691.0) (694.0) (606.0) (611.0) (615.0) (616.0) (534.0) (538.0) (541.0)
Other Financing Activities (8,151.0) (26.0) (236.0) 35.0 47.0 14.0 (73.0) 24.0 36.0 117.0
Financing Cash Flow (4,000.0) (3,006.0) (2,987.0) (4,041.0) (857.0) (3,257.0) (2,681.0) (2,350.0) (2,404.0) (2,779.0)
Cash Position
Net Change in Cash 1,273.0 1,590.0 (826.0) (2,159.0) 4,165.0 (385.0) (1,278.0) 1,723.0 221.0 (279.0)
Cash at Beginning 11,572.0 9,982.0 10,808.0 12,967.0 8,802.0 9,187.0 10,465.0 8,742.0 8,521.0 8,800.0
Cash at End 12,845.0 11,572.0 9,982.0 10,808.0 12,967.0 8,802.0 9,187.0 10,465.0 8,742.0 8,521.0
Free Cash Flow 5,485.0 4,394.0 2,023.0 4,584.0 4,866.0 2,842.0 1,294.0 4,053.0 3,129.0 2,618.0
Key Metrics 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2
Income Statement
Revenue 8,602.0 8,133.0 7,250.0 7,489.0 7,369.0 6,961.0 6,348.0 6,548.0 6,533.0 6,269.0
Gross Profit 6,709.0 6,281.0 5,562.0 5,836.0 5,470.0 5,354.0 4,834.0 5,020.0 4,960.0 4,774.0
Operating Income 5,061.0 4,777.0 4,149.0 3,938.0 4,004.0 4,036.0 3,604.0 3,372.0 3,844.0 3,656.0
Net Income 3,927.0 3,701.0 3,280.0 3,342.0 3,263.0 3,258.0 3,011.0 2,791.0 3,198.0 2,845.0
EPS (Diluted) 4.34 4.05 3.59 3.64 3.53 3.50 3.22 2.97 3.39 3.00
Balance Sheet
Cash & Equivalents 10,313.0 9,031.0 7,575.0 8,442.0 11,063.0 6,996.0 7,293.0 8,588.0 6,890.0 6,170.0
Total Assets 53,289.0 51,431.0 48,470.0 48,081.0 47,237.0 42,333.0 42,602.0 42,448.0 39,674.0 39,004.0
Total Debt 18,983.0 18,970.0 18,802.0 18,226.0 18,358.0 15,605.0 15,629.0 15,681.0 15,566.0 15,620.0
Stockholders' Equity 7,919.0 7,853.0 6,671.0 6,485.0 7,440.0 7,421.0 7,243.0 6,929.0 6,311.0 5,504.0
Cash Flow
Operating Cash Flow 5,663.0 4,603.0 2,380.0 4,834.0 5,136.0 3,138.0 1,672.0 4,130.0 3,233.0 2,698.0
Capital Expenditure (178.0) (209.0) (357.0) (250.0) (270.0) (296.0) (378.0) (77.0) (104.0) (80.0)
Free Cash Flow 5,485.0 4,394.0 2,023.0 4,584.0 4,866.0 2,842.0 1,294.0 4,053.0 3,129.0 2,618.0