Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Mastercard delivered a strong FY2025, with revenue rising 16.4% to $32.8B and operating income surging 21.3% to $18.9B, driving operating margin to a record 57.6% while returning over $14.4B to shareholders via buybacks and dividends.
Revenue
$32.79B
+16.42% YoY
EPS (Diluted)
$16.52
+18.93% YoY
Operating Income
$18.9B
+21.27% YoY
Source: SEC XBRL
Mastercard (MA) reported FY2025 revenue of $32.79B, up 16.4% year over year. Operating margin was 57.6%, up 2.3 points from 55.3% a year earlier. Operating cash flow was $17.65B, up 19.4% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 5.04 | 4.91 | Beat +2.7% |
| Mar 2026 | 4.60 | 4.53 | Beat +1.5% |
| Dec 2025This filing | 4.76 | 4.38 | Beat +8.8% |
| Sep 2025 | 4.38 | 4.45 | Miss -1.6% |
Reported EPS of $4.76 versus the $4.38 analyst consensus — a +8.8% beat for Dec 2025.
Compiled by AI from this SEC filing
Mastercard grew total revenue by 16.4% year-over-year to $32.8B in FY2025, up from $28.2B in the prior year, reflecting continued strength in payment volumes, cross-border transactions, and value-added services.
Source: 10-K Income Statement (XBRL Financial Data)
Operating income grew 21.3% to $18.9B, outpacing revenue growth and expanding the operating margin by approximately 230 basis points to 57.6%, demonstrating Mastercard's highly scalable business model and disciplined cost management.
Source: 10-K Income Statement & Key Ratios (XBRL Financial Data)
Operating cash flow increased 19.4% to $17.6B, enabling Mastercard to return $14.5B to shareholders through $11.7B in share repurchases and $2.8B in dividends, reflecting management's confidence in sustained earnings power.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Basic EPS rose 18.9% to $16.54 from $13.91, with diluted EPS similarly up 18.9% to $16.52, benefiting from both strong net income growth and a reduced share count resulting from the aggressive buyback program.
Source: 10-K Income Statement (XBRL Financial Data)
Cash and equivalents grew 25.2% to $10.6B, providing ample liquidity, while total assets expanded 12.6% to $54.2B; however, the debt-to-equity ratio stands at approximately 6.0x, reflecting Mastercard's capital-light but leverage-intensive financial structure.
Source: 10-K Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
Mastercard's debt-to-equity ratio of approximately 6.0x reflects a highly leveraged balance sheet relative to stockholders' equity of only $7.7B against total liabilities of $46.4B. While this structure is common for payment networks with predictable cash flows, it leaves limited cushion in the event of an economic downturn or unexpected litigation settlements. Rising interest rates could also increase the cost of refinancing $18.3B in long-term debt.
Source: 10-K Balance Sheet (XBRL Financial Data)
As a dominant global payment network, Mastercard faces ongoing scrutiny from regulators in the U.S., EU, and other jurisdictions regarding interchange fees, network rules, and competitive practices. Adverse regulatory outcomes could force fee reductions or structural changes that materially impact revenue. The company's high operating margin of 57.6% makes it a frequent target for regulatory intervention.
Source: 10-K (XBRL Financial Data, inferred from business model)
A meaningful portion of Mastercard's revenue growth is driven by cross-border transactions, which are sensitive to global travel volumes, geopolitical tensions, and currency fluctuations. Any significant slowdown in international travel or trade could disproportionately impact revenue growth. This risk is amplified by the company's global operating footprint spanning markets with varying political and economic stability.
Source: 10-K (XBRL Financial Data, inferred from revenue growth drivers)
Mastercard deployed $14.5B in shareholder returns in FY2025 ($11.7B buybacks + $2.8B dividends), representing approximately 82% of operating cash flow. While this signals confidence in cash generation, it limits the company's ability to pursue large-scale acquisitions or build cash reserves for unexpected needs. The current ratio of just 1.03x indicates current liabilities nearly match current assets, leaving thin near-term liquidity headroom.
Source: 10-K Cash Flow Statement & Key Ratios (XBRL Financial Data)
As a global payment network processing billions of transactions, Mastercard is a high-value target for cyberattacks and data breaches. A significant breach could result in substantial financial penalties, reputational damage, and loss of customer trust. The increasing sophistication of threat actors and reliance on digital payment infrastructure heightens this operational risk.
Source: 10-K (inferred from business model and industry context)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 32.79 $B | 28.17 $B | +16.42% |
Operating Income $B | 18.90 $B | 15.58 $B | +21.27% |
EPS (Basic) $ | 16.54 $ | 13.91 $ | +18.91% |
EPS (Diluted) $ | 16.52 $ | 13.89 $ | +18.93% |
Answers draw on this SEC filing and the data on this page
In Q2 FY2026, Mastercard delivered revenue of $9.28B (up 14.1% YoY) and diluted EPS of $4.97 (up 22.1% YoY), driven by double-digit cross-border volume expansion and rapid growth in value-added services.
Mastercard delivered a strong Q1 2026 with revenue of $8.4B (+15.8% YoY) and diluted EPS of $4.35 (+21.2% YoY), driven by robust operating leverage that pushed operating margin above 58%, while the company returned over $4.8B to shareholders via buybacks and dividends.
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