Bringing the fundamentals into focus…

MA Financial Services

Mastercard Incorporated

$570.06+0.61%

Price as of close on Oct 7, 2026

Basics

Sector: Financial Services
Industry: Credit Services
Country: United States
Market cap: 499.4B USD
Full-time employees: 39,800

This snapshot is over eight days old. A refresh may be pending.

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.06 vs a peer median of 1.98) and more debt relative to equity (4.39× vs a peer median of 0.57×)higher risk: less liquidity (current ratio 1.06 vs peers 1.98) and more debt vs equity (4.39× vs peers 0.57×)

Ranks #129 of 228 financial services companies (bottom 44%)

See how it ranks against its peers

Worth knowing

Nothing unusual stands out. Its strongest area is profitability (99/100).
None of our checks flag anything unusual in Mastercard's latest figures; its strongest area is profitability, at 99 out of 100.

StockQuotient Score

49/ 100

Valuation

Is the price right?

21/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.81Sector median: 0.0608 · MAD: 0.0354

EBITDA yield4.2%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.65Sector median: 0.0692 · MAD: 0.0421

Free cash flow yield3.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.48Sector median: 0.0632 · MAD: 0.0628

Other data (not scored)

Book yield1.1%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.8170 · MAD: 0.4382

Growth

Is it growing?

66/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.4%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth23.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.46Sector median: 0.1040 · MAD: 0.2805

3-year revenue growth14.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.48Sector median: 0.0999 · MAD: 0.0867

Revenue growth16.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.58Sector median: 0.0749 · MAD: 0.1470

Profitability

Does it earn well?

99/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin58.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.43Sector median: 0.2327 · MAD: 0.1442

Return on assets28.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 6.11Sector median: 0.0257 · MAD: 0.0231

Return on invested capital85.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 12.92Sector median: 0.0634 · MAD: 0.0513

Other data (not scored)

Gross margin100.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7851 · MAD: 0.2149

Return on equity289.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0942 · MAD: 0.0697

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: Changed: worth a look

Debt up 30%

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.73

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.15Sector median: 0.6895 · MAD: 0.3090

Current ratio1.06×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.78Sector median: 1.9820 · MAD: 1.1820

Debt / equity4.39×

SEC filings · latest balance sheetReported value33% base weight · Z-score -7.03Sector median: 0.5736 · MAD: 0.5434

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Debt up 30%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	33.9B USD	35.1B USD	+3.4%
Net income (12 months)	15.6B USD	16.3B USD	+4.4%
Operating margin	57.9%	58.3%	+0.4 pts
Free cash flow (12 months)	17.8B USD	16.7B USD	−6.1%
Debt	19.0B USD	24.6B USD	+30.0%
Cash	7.9B USD	11.3B USD	+42.8%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Financial Services · 98 companies

Valuations in Financial Services are above their usual range since 2016.

67% of months since 2016 were valued lower than now.
32% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +7% and earnings +21% (medians): prices and earnings moved broadly together.
Median price-to-sales is +30% vs the whole market, against a usual +47%.

2016Shaded: most expensive fifth of its range2026

Shown for Financial Services: too few Credit Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	33.8%	55.2%	55.8%	55.3%	57.6%	▲ 2.3 pts
Net margin	29.1%	44.7%	44.6%	45.7%	45.6%	▼ 0.1 pts
Return on assets (ROA)	23.1%	25.6%	26.4%	26.8%	27.6%	▲ 0.9 pts
Return on equity (ROE)	118.8%	157.7%	161.6%	198.5%	193.5%	▼ 5.1 pts
Debt to equity	1.90×	2.23×	2.26×	2.81×	2.46×	▼ 13%
Interest coverage	23.39×	26.04×	24.36×	24.12×	26.17×	▲ 8.5%

MA price history

Price history is added with the daily price update and will appear after the next one.

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