MastercardMA

MastercardMA

Revenue: is the business selling more than it used to?

$32.8B+16% YoYFY 2025

→Revenue reached $32.8B in 2025, compounding +14% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $35.1B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Net income: how much of that revenue becomes profit?

$15.0B+16% YoYFY 2025

→Net income was $15.0B in 2025, compounding +15% a year over three years. Trailing twelve-month profit stands at $16.3B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

How fast is it growing, year by year?

+16.4%revenue growth, FY 2025

→Revenue grew +16% in 2025 against a five-year average of +8%. Earnings grew more slowly (+16%), so costs are absorbing part of the growth.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Revenue per share: is your slice growing as fast as the company?

$36.19revenue per share, FY 2025

→Revenue per share reached $36.19 in 2025, compounding +16% a year against +14% for MA as a whole. Buybacks added roughly 2.7 points to your per-share result. Free cash flow per share stands at $18.94.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Free cash flow: what is left in real cash after everything?

$17.2B+20% YoYFY 2025

→Free cash flow was $17.2B in 2025, compounding +17% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $16.7B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

How much of every sales dollar ends up as free cash?

→52 cents of every sales dollar became free cash in 2025, up 4 points since 2022 - the best conversion in its filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is stock compensation, at 2% of revenue (capital spending 1%). That share has risen since 2022, so the cost of competing is climbing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +21% against +16%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 2 points to 58% since 2022. After everything, 46 cents of each sales dollar reaches net profit. MA doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

What does it earn on the money it uses?

→ROE of 290% sits well above ROCE of 60%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

What has the market paid for MA over time?

32.3xP/E today

→At 32.3x earnings, the market is paying about what it has typically paid MA's own 11-year median of 32.7x. Neither a bargain nor a stretch by its own standard.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

What cash return does the business throw off per dollar of market value?

23.5%FCF yield today

→Every dollar of market value currently buys 23.5% of annual free cash flow, more than its 11-year median of 3.3% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Could it handle its debt if things went wrong?

→Debt of $24.6B sits against $11.3B of cash, or 4.4x shareholders' equity. Earnings cover the interest bill 29 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Is the company's own capital growing?

→The company's own capital shrank from $6.9B in 2023 to $5.6B (-19%). Buybacks or losses are drawing the buffer down - the distinction matters.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

How much goes back, and how much leaks out as stock comp?

→Shareholders received $11.7B in buybacks and $2.8B in dividends in 2025. Stock compensation issued $597M of new shares in the same year, offsetting 4% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

How fast is your ownership being diluted - or concentrated?

→The share count shrank 2.3% in 2025, averaging 2.3% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Is the dividend cheque growing?

→The dividend per share reached $3.04 in 2025, compounding +14% a year since 2020.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Can it afford the dividend?

→The dividend consumed 18% of profit and 16% of free cash flow in 2025. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Does MA earn more on its capital than that capital costs?

→MA earns 60.2% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 49.9% in 2022, so the trend is up, and the pace is picking up. That is the highest in MA's filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

MA has issued or retired shares - did shareholders end up better off?

→MA has shrunk its share count -29% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +592% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

MastercardMA

Are the people running it buying or selling?

→Insiders sold $62M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 13 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30