Mastercard Incorporated (MA) stock analysis
Company overview and business model
Source fact: Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers products and services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; consumer bill payment services; and commercial credit, debit, and prepaid payment products and solutions. It also provides solutions that enable businesses or governments to make payments to businesses, including Virtual Card Number, which is generated dynamically from an existing account and leverages the credit limit of the funding account; and a platform to optimize supplier payment enablement campaigns for financial institutions. In addition, the company offers Mastercard Move, which partners with digital messaging and payment platforms to enable consumers to send money directly within applications to other consumers; and partners with central banks, fintechs, and financial institutions, as well as enables various cross-border payment flows. Further, it provides security solutions; marketing, personalization, and issuer and merchant loyalty services; business and operational intelligence, advanced analytics and AI, consulting and agentic solutions, and payments and portfolio optimization; digital and authentication; processing and gateway solutions; and other solutions. The company offers payment solutions and services under the MasterCard, Maestro, and Cirrus names. Mastercard Incorporated was founded in 1966 and is headquartered in Purchase, New York.
Classification: NYSE · Financial Services · Credit Services
Revenue and growth
Source fact: Revenue was USD 32.79 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +16.4% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 14.97 billion in the latest reported period.
Source metric: Reported net margin was 45.6%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 10.57 billion.
Source fact: Total debt was USD 19.00 billion.
Source metric: Current ratio was 1.03x.
Cash-flow analysis
Source fact: Operating cash flow was USD 17.65 billion.
Source fact: Free cash flow was USD 16.43 billion.
Valuation
Source metrics: Trailing P/E 31.92x; Forward P/E 25.22x; Price to book 90.78x; Price to sales 14.50x; EV/EBITDA 23.23x.
Caverian model output: Value score was 33/100.
Competitive position
Classification: Peer context: Credit Services within Financial Services.
Caverian model output: Quality score was 87/100.
Caverian model output: Growth score was 80/100.
Material risks
Caverian calculation: Altman Z-score was 10.57 (safe zone).
Caverian calculation: Piotroski F-score was 8/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles