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Mastercard
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S&P 500
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$558.8B
Market Cap
34.3
P/E
2.14
PEG
93.6%
ROCE
209.9%
ROE
2.56
D/E
59.2%
OPM
0.0%
% from 52W High
73
α RS
🔍 MA is showing a multi-screen setup because it matches 20 of 39 tracked screener presets, Sector RRG has Financials in the Improving quadrant with the trail still strengthening, RS Rating is 73, and it has maintained a 25-day Near 52-Week High momentum persistence. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating Momentum Streaks
Sources
Conviction 20/39 · Financials in Improving quadrant · RS Rating 73 · Near 52-Week High streak: 25d
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🌏 Global Investor Returns
Currency-adjusted total returns for MA including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

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.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding MA
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 194.7K $97.3M 0.15% Mar 2026
Steve Cohen Point72 Asset Management 76.8K $38.4M 0.05% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$9.3B
+12% YoY (currency-neutral)
Operating Income
$5.6B
+14% YoY (currency-neutral)
Operating Margin
60.2%
+1.1pp YoY (currency-neutral)
Net Income
$4.4B
+16% YoY (currency-neutral)
What Went Right
  • Net revenue beat expectations at $9.3B, up 12% currency-neutral, with adjusted EPS of $5.04, up 19% currency-neutral.
  • Value-added services and solutions revenue grew 18% currency-neutral, supported by strong demand for security and cyber solutions.
  • Cross-border volumes grew 12%, with US debit growth ex-Capital One at 8% and switching penetration reaching 72%.
What to Watch
  • Management flagged continued geopolitical uncertainty, particularly in the Middle East and related energy prices.
  • Q3 cross-border card-not-present ex-travel is expected to sequentially decline due to timing of retail promotions and day mix.
  • Rebates and incentives are expected to be slightly higher as a percentage of payment network assessments in Q3, and Q3 other income/expense is expected to be an expense of ~$125 million.
Management Guidance
  • Q3 2026 net revenue growth expected at high end of low double digits on a currency-neutral basis, excluding inorganic activity; FX headwind of approximately 0.5pp.
  • Q3 2026 adjusted operating expense growth expected at low double digits on a currency-neutral basis, excluding inorganic activity and special items; inorganic headwind of 0.5pp and FX tailwind of 0-0.5pp.
  • Full-year 2026 net revenue growth expected at high end of low double digits currency-neutral, excluding inorganic activity; FX tailwind of approximately 1pp.
  • Full-year 2026 adjusted operating expense growth expected at low double digits currency-neutral, excluding inorganic activity and special items; FX headwind of 0.5-1pp.
  • Non-GAAP tax rate expected in range of 20%-21% for both Q3 and Q4 2026.
Investor Lens
The investment thesis is stronger after this quarter: Mastercard delivered above expectations on revenue, EPS, and value-added services, while raising its full-year revenue view within the same low-double-digit range. The diversified model, with resilient consumer spending, 18% VAS growth, and 12% cross-border growth, supports durable mid-teens earnings power. Agentic commerce, stablecoins, and domestic switch partnerships are early but expand the long-term opportunity. Key risks remain FX, Middle East geopolitics, and elevated rebates and incentives.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Q2 delivered above expectations: revenue +12% CN, EPS $5.04.
Revenue
Net revenue was $9.3B, up 14% reported or 12% currency-neutral YoY. Payment Network net revenue grew 8% currency-neutral, while value-added services and solutions grew 18% currency-neutral. Underlying drivers included GDV growth of 8%, cross-border volume growth of 12%, and switched transaction growth of 9%.
Profitability
Adjusted net income was $4.5B, up 16% currency-neutral; GAAP net income was $4.4B, up 19% reported or 16% currency-neutral. Adjusted diluted EPS was $5.04, up 19% currency-neutral (21% reported).
Margins
GAAP operating margin was 60.2%, up 1.5pp reported or 1.1pp currency-neutral; adjusted operating margin was 61.1%. Adjusted operating expenses increased 10% currency-neutral, including a 1pp benefit from dispositions.
Balance Sheet
No overall balance-sheet figures were provided. During the quarter, Mastercard repurchased $4.9B of stock plus approximately $700M through July 27, 2026; a June bond issuance will incrementally increase interest expense in Q3.
Key Risks
Management highlighted Middle East geopolitical uncertainty, FX volatility, and a sequential decline in cross-border card-not-present ex-travel in July due to timing and mix. They also noted that rebates and incentives as a percentage of payment network assessments are expected to be slightly higher in Q3.
Outlook
Q3 net revenue growth is expected at the high end of low double digits on a currency-neutral basis, with full-year 2026 revenue also expected at the high end of that range. The company expects Q3 and full-year adjusted operating expense growth at low double digits, with a full-year non-GAAP tax rate of 20%-21% in Q3 and Q4.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Net revenue rose 12% and adjusted net income 16% year-over-year, with strong growth in value-added services and commercial volumes. Guidance for 2026 was raised to the high end of low double digits, supported by resilient consumer and business spending and ongoing innovation in digital payments and security.
Q1 2026 Q1 2026 2026-04-30
Net revenue grew 12% and net income rose 15% year-over-year, driven by strong network and value-added services growth. Geopolitical tensions, especially in the Middle East, are pressuring cross-border travel, but diversified operations and innovation in digital assets and AI support a positive outlook.
Q4 2025 Q4 2025 2026-01-29
Q4 2025 saw 15% net revenue growth and 22% value-added services growth, with strong global partnerships and innovation in digital payments. 2026 guidance anticipates high-end low double-digit revenue growth, continued investment, and a $200M restructuring charge.
Q3 2025 Q3 2025 2025-10-30
Net revenue rose 15% year-over-year, driven by strong payment network and VAS growth, with cross-border volumes up 15% and robust consumer/business spending. Guidance calls for continued double-digit revenue growth, while Capital One debit migration poses a future headwind.
Q2 2025 Q2 2025 2025-07-31
Q2 2025 saw net revenue up 16% and adjusted net income up 12% year-over-year, driven by strong consumer spending, strategic partnerships, and robust growth in value-added services. Guidance for 2025 was raised to the high end of prior ranges, with continued focus on innovation and global expansion.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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