MA
Mastercard Inc
MA—
Mastercard Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 59.2% TTM vs industry median 13.9% - 4.3x advantage from network economics with minimal incremental costs per transaction[Operating Margin TTM]
- ROIC 54.1% TTM on 26.9B invested capital - every dollar deployed generates 54 cents annually, rare capital efficiency[ROIC TTM]
- Tangible book value negative (-7.3B) with goodwill 121% of equity - asset-light model but acquisition-dependent growth[Tangible Book Value]
Watch Triggers
- Operating Margin TTM: Falls below 55% — Signals competitive pressure or regulatory impact on take rates - core thesis invalidator
- Total Revenue 3Y Growth: Declines below 10% — Would indicate digital payments TAM saturation or share loss to alternatives
- Free Cash Flow TTM: FCF/Net Income falls below 100% — Currently 114% - deterioration signals earnings quality issues
Bull Case
Duopoly network effects: 59% operating margins with 14.3% 3Y revenue CAGR - pricing power + volume growth simultaneously
Operating Margin TTMTotal Revenue 3Y Growth
Capital-light compounder: 54% ROIC generating 16.3B FCF annually on just 2.3B PPE - minimal reinvestment required
ROIC TTMFree Cash Flow TTMPPE
Bear Case
Premium valuation: P/E 34x vs industry 12.2x median, P/S 15.5x vs 3.1x - requires flawless execution to justify
PE RatioPS Ratio
Debt/equity 2.4x with 19B total debt - leveraged balance sheet vulnerable to rate environment or regulatory fines
Debt to EquityTotal Debt
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
62%
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Forward Thesis
FCF margin expansion to 55%+ as digital payments penetration accelerates in emerging markets
1-3yhigh
- Current FCF margin 51.8% TTM with capex only 3.7% of revenue
- Revenue 3Y CAGR 14.3% vs industry 5.1% - share gains continuing
- Operating leverage: 77.5% gross margin flows to bottom line
FCF 16.3B TTM on 31.5B revenueEPS 5Y CAGR 22.1% vs revenue 14.3% - margin expansion provenCapex -1.2B TTM, minimal reinvestment needed
Valuation Context
Caveats
Public Strategies Rankings
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MA Fundamentals
Finance and Insurance → Credit Intermediation and Related Activities
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$488.24B | — | ||
$496.91B | — | ||
34 | — | ||
$31.47B | +15.6% | — | |
$15.91 | +16.4% | — | |
59.2% | +1.2% | — | |
45.3% | +0.0% | — | |
$16.30B | +26.8% | — | |
1.9 | +6.5% | — | |
Beta 5Y (Monthly) | unknown | — |
MA Dividend History
78 dividends
2026
$0.870001/09/26$0.8700
2025
$3.040010/09/25$0.7600
07/09/25$0.7600
04/09/25$0.7600
01/10/25$0.7600
2024
$2.640010/09/24$0.6600
07/09/24$0.6600
04/08/24$0.6600
01/08/24$0.6600
2023
$2.280010/05/23$0.5700
07/06/23$0.5700
04/05/23$0.5700
01/06/23$0.5700
2022
$1.960010/06/22$0.4900
07/07/22$0.4900
04/07/22$0.4900
01/06/22$0.4900
2021
$1.760010/07/21$0.4400
07/08/21$0.4400
04/08/21$0.4400
01/07/21$0.4400
2020
$1.600010/08/20$0.4000
07/08/20$0.4000
04/08/20$0.4000
01/08/20$0.4000
2019
$1.320010/08/19$0.3300
07/08/19$0.3300
04/08/19$0.3300
01/08/19$0.3300
2018
$1.000010/05/18$0.2500
07/06/18$0.2500
04/06/18$0.2500
01/08/18$0.2500
2017
$0.880010/05/17$0.2200
07/05/17$0.2200
04/05/17$0.2200
01/05/17$0.2200
2016
$0.760010/05/16$0.1900
07/06/16$0.1900
04/06/16$0.1900
01/06/16$0.1900
2015
$0.640010/07/15$0.1600
07/07/15$0.1600
04/07/15$0.1600
01/07/15$0.1600
2014
$1.430010/07/14$0.1100
07/07/14$0.1100
04/07/14$0.1100
01/07/14$1.1000
2013
$0.210010/07/13$0.0600
07/05/13$0.0600
04/05/13$0.0600
01/07/13$0.0300
2012
$0.105010/05/12$0.0300
07/05/12$0.0300
04/04/12$0.0300
01/05/12$0.0150
2011
$0.060010/05/11$0.0150
07/06/11$0.0150
04/06/11$0.0150
01/06/11$0.0150
2010
$0.060010/07/10$0.0150
07/01/10$0.0150
04/07/10$0.0150
01/06/10$0.0150
2009
$0.060010/07/09$0.0150
07/08/09$0.0150
04/08/09$0.0150
01/07/09$0.0150
2008
$0.060010/08/08$0.0150
07/09/08$0.0150
04/07/08$0.0150
01/09/08$0.0150
2007
$0.054010/17/07$0.0150
06/29/07$0.0150
04/04/07$0.0150
01/10/07$0.0090
2006
$0.009010/05/06$0.0090
MA Stock Splits
1 stock split
01/22/141:10 split
MA SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/30/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
02/12/25 | 12/31/24 | Unknown | |
10/31/24 | 09/30/24 | 10-Q | |
07/31/24 | 06/30/24 | 10-Q | |
05/01/24 | 03/31/24 | 10-Q | |
02/13/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/14/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/11/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
02/12/21 | 12/31/20 | 10-K | |
10/28/20 | 09/30/20 | 10-Q | |
07/30/20 | 06/30/20 | 10-Q | |
04/29/20 | 03/31/20 | 10-Q | |
02/14/20 | 12/31/19 | 10-K | |
10/29/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
04/30/19 | 03/31/19 | 10-Q | |
02/13/19 | 12/31/18 | 10-K | |
10/30/18 | 09/30/18 | 10-Q | |
07/26/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
02/14/18 | 12/31/17 | 10-K | |
10/31/17 | 09/30/17 | 10-Q | |
07/27/17 | 06/30/17 | 10-Q | |
05/02/17 | 03/31/17 | 10-Q | |
02/15/17 | 12/31/16 | 10-K | |
10/28/16 | 09/30/16 | 10-Q | |
07/28/16 | 06/30/16 | 10-Q | |
04/28/16 | 03/31/16 | 10-Q | |
02/12/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/29/15 | 06/30/15 | 10-Q | |
04/29/15 | 03/31/15 | 10-Q | |
02/13/15 | 12/31/14 | 10-K | |
10/30/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/14/14 | 12/31/13 | 10-K | |
10/31/13 | 09/30/13 | 10-Q | |
07/31/13 | 06/30/13 | 10-Q | |
05/01/13 | 03/31/13 | 10-Q | |
02/14/13 | 12/31/12 | 10-K | |
10/31/12 | 09/30/12 | 10-Q | |
08/01/12 | 06/30/12 | 10-Q | |
05/02/12 | 03/31/12 | 10-Q | |
02/16/12 | 12/31/11 | 10-K | |
11/02/11 | 09/30/11 | 10-Q | |
08/03/11 | 06/30/11 | 10-Q | |
05/03/11 | 03/31/11 | 10-Q | |
02/24/11 | 12/31/10 | 10-K | |
11/02/11 | 09/30/10 | 10-Q | |
08/03/10 | 06/30/10 | 10-Q | |
05/04/10 | 03/31/10 | 10-Q | |
02/18/10 | 12/31/09 | 10-K | |
11/02/10 | 09/30/09 | 10-Q | |
11/03/09 | 09/30/09 | 10-Q | |
07/31/09 | 06/30/09 | 10-Q | |
05/01/09 | 03/31/09 | 10-Q | |
02/19/09 | 12/31/08 | 10-K | |
11/04/08 | 09/30/08 | 10-Q | |
08/01/08 | 06/30/08 | 10-Q | |
04/29/08 | 03/30/08 | Unknown | -- |
02/21/08 | 12/31/07 | 4 | |
10/31/07 | 09/30/07 | 10-Q | |
08/01/07 | 06/30/07 | 10-Q | |
05/02/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 4 | |
11/01/06 | 09/30/06 | 10-Q | |
08/02/06 | 06/30/06 | 10-Q | |
05/02/06 | 03/30/06 | Unknown | -- |
03/16/06 | 12/31/05 | 8-K | |
11/03/05 | 09/30/05 | 10-Q | |
08/05/05 | 06/30/05 | 10-Q | |
05/09/05 | 03/30/05 | Unknown | -- |
03/02/05 | 12/31/04 | 10-K | |
11/09/04 | 09/30/04 | 10-Q | |
08/05/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/30/04 | Unknown | -- |
03/04/04 | 12/31/03 | 10-K | |
11/07/03 | 09/30/03 | 10-Q | |
08/08/03 | 06/30/03 | 10-Q | |
05/10/04 | 03/30/03 | 10-Q | |
05/14/03 | 03/30/03 | 10-Q | |
03/07/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 10-Q |