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Mastercard IncMA

Sector
Other
Industry
Services-Business Services, NEC
Exchange
NYSE

Stock Price $MA

Latest filings

You are here#4 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K128

MA filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 128 current reports (8-K) between 2016 and 2026.

  1. FY2019 annual report10-K · Feb ’20Feb ’20
  2. Leadership change8-K · Mar ’23Mar ’23
  3. Leadership change8-K · Feb ’25Feb ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $32.79B
YoY changeLargest recent move+23.4%in FY21Latest +16.4%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All MA Financial Metrics59 metrics

Income Statement13

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

Mastercard Inc Financial Overview 2021–2025

Updated Jul 10, 2026

By returning a massive $14.5 billiona to shareholders through buybacks and dividends in FY2025, Mastercard demonstrated the sheer cash-generating power of its network. The payments giant is successfully capitalizing on the secular shift away from physical cash, driving sustained, high-margin growth across both its core processing rails and its expanding portfolio of value-added services.

The company's financial trajectory highlights a relentless compounding engine. Net revenue grew from $18.9 billion in FY2021 to $32.8 billionb in FY2025, fueled heavily by a sustained expansion in international commerce. This global scale was evident in FY2025, as cross-border volume surged 18% on a local currency basis and gross dollar volume (GDV) expanded by 15%. Mastercard paired this top-line expansion with aggressive operational efficiency. Operating expenses consistently grew slower than revenue, building upon the 58.0% adjusted operating margin recorded in FY2023 and pushing FY2025 net income up 16% to $15.0 billion.

The market has heavily rewarded this combination of double-digit growth and consistent capital returns. At the close of FY2025, the stock traded at $570.88c, commanding a premium 34.6x P/E ratio as diluted EPS reached $16.52.

Recent Developments (Q4 2025 and Q1 2026)

In Q1 2026 and subsequent months, Mastercard initiated a sweeping leadership reorganization and fortified its balance sheet. Sachin Mehra transitioned from CFO to Chief Business Officer, with Ling Hai assuming the CFO role. Expanding its capital flexibility, the company completed a $5.35 billiond multi-tranche debt offering, featuring fixed-rate notes yielding up to 5.000% maturing in 2036. Underlying network usage also demonstrated ongoing strength, highlighted by a 10% increase in switched transactions.

Bulls assert that Mastercard’s entrenched market position and expanding transaction volumes easily justify its continued premium pricing. Bears warn that simultaneous C-suite turnover and a sudden $5.35 billione debt expansion could introduce near-term operational and execution risks. At a 30.4x P/E ratio as of the April 30, 2026 reporting date, the stock traded at $502.92, reflecting a notable multiple contraction from prior levels while still remaining historically rich.

What to watch: strategic continuity under the newly appointed executive team; capital allocation regarding the recent multi-tranche debt issuance

03—Filings

Recent SEC Filings

  1. 8-KMastercard Inc 8-K Report, Financial Results (Jul 30, 2026)Mastercard Incorporated (MA) filed an 8-K on July 30, 2026, to report its financial results for the second quarter of 2026. The filing primarily consists of an attached earnings release, which provides the detailed financial performance for the quarter. Investors should refer to this attached release for specific figures related to revenue, earnings per share, and other key performance indicators. As the 8-K itself does not contain the detailed financials but rather incorporates them by reference, a thorough review of the accompanying exhibit is crucial for a comprehensive understanding of the company's operational and financial condition during the period.
  2. 8-KMastercard Inc 8-K Report, Shareholder Vote Results (Jun 17, 2026)Mastercard Incorporated (MA) filed an 8-K report on June 17, 2026, detailing the outcomes of its annual meeting of stockholders held on June 16, 2026. The primary focus of this filing is the voting results on key corporate matters, including the election of directors, executive compensation, and the ratification of the independent auditor. The meeting confirmed strong shareholder support for the company's leadership and financial reporting practices, with all nominated directors being overwhelmingly elected and the executive compensation plan receiving advisory approval. The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026 was also ratified by a significant margin. Notably, two stockholder proposals did not receive majority approval from the Class A common stockholders. These proposals concerned the shareholder right to act by written consent and the adoption of cumulative voting for director elections. The lack of approval on these specific governance-related proposals suggests that the current board and management's recommended approach to these matters aligns with the majority of the voting shareholders' preferences, reinforcing the status quo in these areas. Overall, the filing indicates a stable governance environment with broad shareholder confidence in the company's current direction and leadership.
  3. 8-KMastercard Inc 8-K Report, Corporate Update (Jun 8, 2026)Mastercard Incorporated has announced the successful completion of a significant debt offering, raising a total of $5.35 billion through the issuance of various senior notes. The offering includes $500 million in Floating Rate Notes due 2028, $1.25 billion in 4.325% Notes due 2028, $1.15 billion in 4.425% Notes due 2029, $1.35 billion in 4.600% Notes due 2031, and $750 million in 5.000% Notes due 2036. This debt issuance, conducted under the company's existing shelf registration statement, provides Mastercard with substantial capital that can be utilized for various corporate purposes, including potential acquisitions, strategic investments, general corporate needs, or to refinance existing debt. The diverse maturities and structures of the notes offer flexibility in managing the company's capital structure and debt obligations over the medium to long term. Investors in these notes are providing capital to Mastercard in exchange for fixed interest payments and principal repayment according to the specified terms.
  4. 8-KMastercard Inc 8-K Report, Executive Changes (Jun 2, 2026)Mastercard Inc. has announced significant leadership transitions effective August 3, 2026, impacting key executive roles. Sachin Mehra, the current Chief Financial Officer, will move to the newly created position of Chief Business Officer, focusing on global country operations and unifying go-to-market leadership. This move signifies a strategic alignment towards a more integrated global operational approach. Ling Hai, currently President of Asia Pacific, Europe, Middle East, and Africa, will succeed Mr. Mehra as the new Chief Financial Officer. Mr. Hai's compensation package for this role includes a $850,000 base salary and a $1,500,000 Long-Term Incentive Award in restricted stock units, along with eligibility for existing incentive plans.
  5. 8-KMastercard Inc 8-K Report, Executive Changes (May 7, 2026)Mastercard Inc. has announced a significant leadership transition within its accounting and audit functions, effective August 3, 2026. Sandra Arkell, currently Corporate Controller and principal accounting officer, will be moving to the role of Chief Audit Executive. This transition is strategically important as it places a seasoned executive in charge of internal controls and audit processes. The company has also appointed Chris Mullett to succeed Ms. Arkell as Corporate Controller and principal accounting officer, a critical role overseeing financial reporting and compliance.
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04—See also

Related Companies

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