Mastercard Incorporated

MAUS

Mastercard Incorporated is a global technology firm specializing in providing transaction processing and a wide array of payment solutions, operating across the United States and internationally. Its core business centers on enabling the entire payment transaction lifecycle – including authorization, clearing, and settlement – alongside offering a spectrum of complementary payment services. The company provides a comprehensive suite of integrated products and value-added services to a diverse clientele, which includes individual account holders, merchants, financial institutions, businesses, governments, and other organizations. These offerings span programs enabling deferred payment credit, prepaid card management services, commercial credit and debit solutions, and tools for accessing funds in deposit and other accounts. Additionally, Mastercard offers advanced cyber and intelligence solutions designed to secure transactions for all participants, and provides proprietary insights derived from the responsible utilization of consumer and merchant data. For online merchants, its specialized offerings encompass analytics, experimental "test and learn" platforms, consulting, managed services, loyalty programs, payment processing, and secure gateway technologies. The company also operates open banking and digital identity platforms. Its prominent payment solutions are delivered under the MasterCard, Maestro, and Cirrus brands. Established in 1966, Mastercard Incorporated is headquartered in Purchase, New York.

Founded1966IPO year2006As of2026-08-04
Market Cap
$502.05B
Enterprise Value
$515.08B
EV / LTM Revenue
15.7x
EV / NTM Revenue
12.9x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
12.9x
Gross Profit
15.6x
EBITDA
19.9x
Classification
Sector
Fintech
Sub-sector
Payments
Listing
MA
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY18%13%12%16%14%13%
Revenue$18.88B$22.24B$25.10B$28.17B$32.79B$37.22B$41.91B
Gross Profit$14.39B$16.97B$19.08B$21.49B$25.54B
Gross Profit Margin76.2%76.3%76.0%76.3%77.9%
EBITDA$11.46B$12.95B$15.01B$16.80B$20.44B$24.01B$27.04B
EBITDA Margin60.7%58.2%59.8%59.6%62.3%64.5%64.5%
EBIT$10.08B$12.26B$14.01B$15.58B$19.23B$22.87B$25.75B
Net Income$8.69B$9.93B$11.20B$12.87B$14.97B$17.54B$20.76B
Free Cash Flow$8.65B$10.10B$11.61B$13.59B$17.09B
FCF Margin45.8%45.4%46.3%48.2%52.1%
Short-Term Debt$792M$274M$1.34B$750M$749M
Long-Term Debt$13.11B$13.75B$14.34B$17.48B$18.25B
Cash & Cash Equivalents$7.42B$7.01B$8.59B$8.44B$10.57B
Net Debt$6.48B$7.01B$7.09B$9.78B$8.43B
Net Debt / EBITDA0.6x0.5x0.5x0.6x0.4x
Rule of 4063.2%59.1%60.5%68.5%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.