Mastercard Incorporated (MA) fundamental analysis

From the Sep 26, 2026 report · Read the full report

Annual income statement

Fiscal year	Revenue	Growth	Gross margin	Operating margin	Net margin	Free cash flow	Diluted EPS
Dec 31, 2025	32.79B	16.4%	77.9%	59.5%	45.6%	16.43B	16.52
Dec 31, 2024	28.17B	12.2%	76.3%	58.0%	45.7%	13.59B	13.89
Dec 31, 2023	25.1B	12.9%	76.0%	58.3%	44.6%	10.89B	11.83
Dec 31, 2022	22.24B	—	76.3%	57.2%	44.7%	10.1B	10.22

Balance sheet

Jun 30, 2026

Cash and short-term investments: 11.61B
Total debt: 24.64B
Shareholders' equity: 5.61B

Against its sector

	MA	Sector median
Forward P/E	24.7	18.1
Net margin	46.3%	32.2%
Revenue growth	14.1%	15.6%
ROE	241.2%	15.0%
Debt / equity	439.6	—

From the Sep 26, 2026 report

Mastercard's fundamentals remain strong with consistent revenue growth (14.1% YoY) and industry-leading profitability. The company reports $35.1B in revenue (TTM) with a 46.3% profit margin and $22.2B in EBITDA (63.3% margin). Free cash flow stands at $17.0B, providing significant flexibility for debt management and shareholder returns. The debt-to-equity ratio of 439.58% is elevated but offset by robust FCF ($17.0B), with a current ratio of 1.06 confirming short-term liquidity adequacy. Dividend yield of 0.61% is modest but sustainable given the company's financial strength.

Frequently asked questions

How fast is MA revenue growing?

Mastercard Incorporated reported revenue of 32.79B in the fiscal year ended Dec 31, 2025, 16.4% more than the year before.

Data as of Sep 29, 2026. Sources: Yahoo Finance (prices, financial statements and analysts' estimates) and the U.S. Treasury (10-year yield). Indicators and valuation are computed without AI.

AI-generated informational content. Not financial advice or a personalised investment recommendation. Investing involves risk, including loss of capital.

Comparisons

VSell

MAHold

V vs MA: Valuation vs. Strategic Growth

Visa (V) is rated SELL due to overvaluation and technical resistance, while Mastercard (MA) is rated HOLD with a focus on strategic growth initiatives. V's higher valuation (31.27x TTM PE) contrasts with MA's strategic positioning in stablecoin and AI commerce.

Updated Sep 29, 2026

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