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NYSE · SERVICES-BUSINESS SERVICES, NEC · LARGE CAP

Mastercard Inc. MA

19 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$32.8B
▲ 16.4% YoY
$15.0B
▲ 16.3% YoY
$17.2B
▲ 19.9% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Mastercard operates a global payments network through which it switches payment transactions, authorizing, clearing and settling them. It enables transactions for its customers in more than 150 currencies and in more than 220 countries and territories. The company classifies its net revenues from contracts with customers into two categories: payment network, and value-added services and solutions. Payment network revenue comes primarily from fees charged to customers based on gross dollar volume on the cards that carry its brands and from switching and other network-related services. Its value-added services and solutions include security solutions, consumer acquisition and engagement, business and market insights, digital and authentication, processing and gateway, and other solutions such as account-based payments and open finance. Its branded debit programs consist of Mastercard, Maestro and Cirrus. As of December 31, 2025 it employed approximately 39,800 persons globally, of whom approximately 70% worked outside the United States, in more than 90 countries. Mastercard Incorporated was incorporated as a Delaware corporation in May 2001 and conducts its business principally through its operating subsidiary Mastercard International Incorporated, formed in November 1966.

Written from the business description in Mastercard Inc's annual report to the U.S. Securities and Exchange Commission, filed 11 February 2026. Every sentence was checked against that document before publication.

Growth

USD 32.8B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 32.8 · Net income 15.0
15B30B
2007201020132016201920222025
Compound annual growth
+13.8%
+16.5%
+13.0%
+12.6%
+14.7%
+18.5%
+14.7%
+17.4%
+21.0%
+17.3%
+15.6%
+10.6%
+19.0%
+13.0%
+41.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +16.5% a year over the five years to FY2025 — but profit grew faster: net income at +18.5%, earnings per share at +21.0%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

46 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 57.6% · Net 45.6%
20%40%-5%-10%
200720162025
ROE
FY2025 · ROE 210.5%
100%200%
200720162025
Three returns, three denominators.

Each USD of equity produced 210 cents of profit this year.

Cash & shareholders

USD 14.3B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 17.2
10B20B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 2.8 · Net buybacks 11.5
5B10BDividendsNet buybacks
2007201020132016201920222025

USD 2.8B in dividends and USD 11.5B in buybacks — 95% of the year's profit went back to shareholders.

Total assetsUSD 54.2B
EquityUSD 7.7B
CashUSD 10.6B
Gross debtUSD 19.0B
Net debtUSD 8.4B
Current ratio1.03×

Net debt stands at 109% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
MA, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B32.828.225.122.218.915.325.021.812.510.89.79.48.37.46.75.55.15.04.1
Operating income $B18.915.614.012.310.18.19.77.36.65.85.15.14.53.92.72.82.3−0.51.1
EBITDA $B20.016.514.813.010.88.710.27.77.1◌◌◌◌◌◌◌◌◌◌
Income tax $B3.62.42.41.81.61.31.61.32.61.61.11.51.41.20.80.90.8−0.10.6
Net income $B15.012.911.29.98.76.48.15.93.94.13.83.63.12.81.91.81.5−0.31.1
Free cash flow $B17.214.311.610.89.16.97.85.95.44.33.93.24.02.92.61.61.30.30.7
EPS, diluted $16.5213.8911.8310.228.766.377.945.603.653.693.353.102.562.191.4814.0511.16−1.947.96
Dividend / sh $3.152.742.372.04◌◌1.391.080.910.790.670.490.290.120.060.600.600.600.60
Payout %18191919202517182421191485445−317
ROE %210.5191.9169.3145.9126.8104.4143.8107.670.269.559.450.743.343.234.442.453.9−10.235.8

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 0 failures in 72 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Business Services, NEC
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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