MA vs V
Mastercard Inc. and Visa Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MA | V |
|---|---|---|
| Revenue | $32.8B | $40.0B |
| Net income | $15.0B | $20.1B |
| Gross margin | · | · |
| Net margin | 45.6% | 50.1% |
| Return on equity | 210.5% | 52.1% |
| Diluted EPS | $16.52 | · |
| Dividend / share | $3.15 | $0.59 |
| Payout ratio | 18.4% | 23.1% |
| Free cash flow | $17.2B | $21.6B |
| Equity | $7.7B | · |
| Net debt / equity | 1.09× | 0.21× |
| Current ratio | 1.03× | 1.08× |
| Revenue CAGR 5y | 16.5% | 12.9% |
| Profit CAGR 5y | 18.5% | 13.0% |
V bills 1.2× the revenue of MA, and keeps more of each dollar of revenue as profit (50.1% against 45.6%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MA | V |
|---|---|---|
| FY2025 | $32.8B | $40.0B |
| FY2024 | $28.2B | $35.9B |
| FY2023 | $25.1B | $32.7B |
| FY2022 | $22.2B | $29.3B |
| FY2021 | $18.9B | $24.1B |
| FY2020 | $15.3B | $21.8B |
| FY2019 | $25.0B | $23.0B |
| FY2018 | $21.8B | $20.6B |
| FY2017 | $12.5B | $18.4B |
| FY2016 | $10.8B | $15.1B |
Bottom line
| Fiscal year | MA | V |
|---|---|---|
| FY2025 | $15.0B | $20.1B |
| FY2024 | $12.9B | $19.7B |
| FY2023 | $11.2B | $17.3B |
| FY2022 | $9.9B | $15.0B |
| FY2021 | $8.7B | $12.3B |
| FY2020 | $6.4B | $10.9B |
| FY2019 | $8.1B | $12.1B |
| FY2018 | $5.9B | $10.3B |
| FY2017 | $3.9B | $6.7B |
| FY2016 | $4.1B | $6.0B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$7,209,000,000 | V |
| FY2024 | −$7,759,000,000 | V |
| FY2023 | −$7,555,000,000 | V |
| FY2022 | −$7,073,000,000 | V |
| FY2021 | −$5,221,000,000 | V |
| FY2020 | −$6,545,000,000 | V |
| FY2019 | +$2,003,000,000 | MA |
| FY2018 | +$1,222,000,000 | MA |
| FY2017 | −$5,861,000,000 | V |
| FY2016 | −$4,306,000,000 | V |
| FY2015 | −$4,213,000,000 | V |
| FY2014 | −$3,261,000,000 | V |
| FY2013 | −$3,432,000,000 | V |
| FY2012 | −$3,030,000,000 | V |
| FY2011 | −$2,474,000,000 | V |
| FY2010 | −$2,526,000,000 | V |
| FY2009 | −$1,812,000,000 | V |
| FY2008 | −$1,271,000,000 | V |
| FY2007 | +$477,599,000 | MA |
The higher-revenue side has changed between MA and V over this period. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −4.5 pp | V |
| FY2024 | −9.2 pp | V |
| FY2023 | −8.3 pp | V |
| FY2022 | −6.4 pp | V |
| FY2021 | −5.1 pp | V |
| FY2020 | −7.8 pp | V |
| FY2019 | −20.1 pp | V |
| FY2018 | −23.1 pp | V |
| FY2017 | −5.2 pp | V |
| FY2016 | −2.1 pp | V |
| FY2015 | −6.2 pp | V |
| FY2014 | −4.5 pp | V |
| FY2013 | −4.9 pp | V |
| FY2012 | +16.8 pp | MA |
| FY2011 | −11.3 pp | V |
| FY2010 | −3.4 pp | V |
| FY2009 | −5.3 pp | V |
| FY2008 | −17.9 pp | V |
| FY2007 | +56.7 pp | MA |
The higher net margin has changed hands between MA and V over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
V's net margin has been more volatile than MA's over the 19 comparable fiscal years — 19.4 percentage points of standard deviation against 11.4.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MA and V over these 19 fiscal years — MA led in 2 and V in 17.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MA's return on equity has been more volatile than V's over the 17 comparable fiscal years — 55.5 percentage points of standard deviation against 13.6.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
MA led in return on equity in every one of the 17 comparable fiscal years — a structural lead, not a recent swing.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.