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NYSE · Financials

Mastercard Inc (MA)

As-reported financials and SEC filings for Mastercard Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Mastercard Inc

Mastercard Inc operates a global payments network that facilitates electronic payments between consumers, merchants, financial institutions, and governments. The company provides payment processing services, including credit, debit, and prepaid card transactions, and offers related products and services to consumers and businesses worldwide. Mastercard serves a broad range of customers, including cardholders, merchants, issuers, and acquirers, across multiple countries.

Snapshot

Revenue
$32.79B
Revenue growth (YoY)
16.4%
Net income
$14.97B
Diluted EPS
$16.52
Gross margin
Operating margin
57.6%
Net margin
45.6%
FCF margin
52.3%
ROE
193.2%
net income / fiscal-year-end equity
P/E
31.3×
trailing when available, otherwise FY EPS
Market cap
$495.27B
Long-term debt / equity
2.36×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Mastercard

  • Revenue grew 16.4% to $32.8B in FY2025, faster than the 12.2% the year before.
  • Operating margin is 57.6% in FY2025, +4.2 pp against 53.4% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $9.3B, up 14.1% from Q2 FY2025.
  • Free cash flow was $17.2B in FY2025, 52.3% of revenue.
  • Net income rose 16.3% to $15.0B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Mastercard’s fundamentals sit among the 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin57.6%
97th percentile of 146
Net margin45.6%
95th percentile of 377
FCF margin52.3%
91st percentile of 272
Revenue growth (YoY)+16.4%
63rd percentile of 420
ROE193.2%
99th percentile of 375
P/E31.3×
88th percentile of 319
Long-term debt / equity2.36×
93rd percentile of 194
Short interest2.56d
23rd percentile of 420

Mastercard’s return on equity of 193.2% ranks in the 99th percentile of the 375 Financials companies reporting it. Mastercard’s operating margin of 57.6% ranks in the 97th percentile of the 146 Financials companies reporting it. Mastercard’s net margin of 45.6% ranks in the 95th percentile of the 377 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 47 insider sales totaling $62.1M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 8 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
8
+6 quant / multi-strat
Initiated / added
7
0 new, 7 added
Reduced / exited
7
4 trimmed, 3 exited
Combined position
$5.70B
reported long value
InvestorAs ofPosition valueSharesChange
Akre Capital ManagementQ2 2026$1.02B2.0MReduced
D. E. ShawquantQ2 2026$1.02B2.0MAdded
Two Sigma InvestmentsquantQ2 2026$945.6M1.8MAdded
Citadel AdvisorsquantQ2 2026$753.8M1.5MAdded
Polen Capital ManagementQ2 2026$586.5M1.1MReduced
AQR Capital ManagementquantQ2 2026$498.4M974.1KAdded
Millennium ManagementquantQ2 2026$398.7M776.2KReduced
Point72 Asset ManagementquantQ2 2026$238.3M464.0KAdded
Markel GroupQ2 2026$106.6M207.5KHeld
Harris Associates (Oakmark)Q2 2026$51.9M101.0KReduced
Gotham Asset ManagementQ2 2026$44.5M86.7KAdded
Soros Fund ManagementQ2 2026$15.6M30.5KHeld
Giverny CapitalQ2 2026$14.8M28.8KAdded
Yacktman Asset ManagementQ2 2026$6.0M11.7KHeld

No longer held by: Bridgewater Associates (as of Q2 2026), Lone Pine Capital (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
47
$62.1M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-02
filed 2026-09-03
SACHIN J. MEHRAChief Business OfficerSell3.3K$584.00$1.9M
2026-08-31
filed 2026-09-01
Kirkpatrick Linda PistecchiaChief Services OfficerSell923$593.54$548K
2026-08-20
SACHIN J. MEHRAChief Business OfficerSell1.0K$572.07$572K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell1.3K$576.82$738K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell1.2K$575.77$672K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell1.1K$574.73$661K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell966$573.99$554K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell840$581.58$489K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell732$580.39$425K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell628$577.90$363K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell400$579.35$232K
2026-08-19
filed 2026-08-20
SACHIN J. MEHRAChief Business OfficerSell160$582.25$93K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
7.6M
settled 2026-08-31
Change vs prior
+5.6%
vs previous settlement
Days to cover
2.56
at avg daily volume
Avg daily volume
3.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-317.6M+5.6%2.56
2026-08-147.2M-19.8%2.58
2026-07-319.0M-1.1%2.87
2026-07-159.1M+16.9%2.84
2026-06-307.7M+16.3%1.63
2026-06-156.7M+2.8%1.65
2026-05-296.5M-8.9%1.95
2026-05-157.1M+5.2%1.81

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$32.79B$28.17B$25.10B$22.24B$18.88B
Gross profit
Operating income$18.90B$15.58B$14.01B$12.26B$10.08B
Net income$14.97B$12.87B$11.20B$9.93B$8.69B
Diluted EPS$16.52$13.89$11.83$10.22$8.76

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$17.65B$14.78B$11.98B$11.20B$9.46B
Capital expenditure$489.0M$474.0M$371.0M$442.0M$407.0M
Free cash flow$17.16B$14.31B$11.61B$10.75B$9.06B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$9.28B14.1%$4.39B$4.97
Q1 FY2026$8.40B15.8%$3.88B$4.35
Q4 FY2025$8.81B17.6%$4.52
Q3 FY2025$8.60B16.7%$3.93B$4.34
Q2 FY2025$8.13B16.8%$3.70B$4.07
Q1 FY2025$7.25B14.2%$3.28B$3.59
Q4 FY2024$7.49B14.4%$3.64
Q3 FY2024$7.37B12.8%$3.26B$3.53

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorFinancials
SIC industryServices-Business Services, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2019
SEC CIK1141391

Selected SEC filings

10-K2026-02-11
View on EDGAR →
10-K2025-02-12
View on EDGAR →
10-Q2026-07-30
View on EDGAR →
10-Q2026-04-30
View on EDGAR →
10-Q2025-10-30
View on EDGAR →
10-Q2025-07-31
View on EDGAR →
8-K2026-07-30
View on EDGAR →
8-K2026-06-17
View on EDGAR →

Largest Financials peers

All Financials companies →

MA head to head

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.