{ "ok": true, "cik": "1141391", "ticker": "MA", "name": "Mastercard Incorporated", "filings": [ { "form": "10-Q", "filed": "2026-07-30", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000083/0001141391-26-000083-index.htm" }, { "form": "8-K", "filed": "2026-07-30", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000081/0001141391-26-000081-index.htm" }, { "form": "8-K", "filed": "2026-06-17", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000041/0001141391-26-000041-index.htm" }, { "form": "8-K", "filed": "2026-06-08", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000119312526261669/0001193125-26-261669-index.htm" }, { "form": "8-K", "filed": "2026-06-02", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000037/0001141391-26-000037-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000034/0001141391-26-000034-index.htm" } ], "events12m": 11, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-06-02", "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000037/0001141391-26-000037-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001141391.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1141391" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Mastercard Incorporated ($MA). Last filing: 10-Q, 2026-07-30. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 32791000000, "revenueGrowth1y": 0.16416373770724602, "revenueGrowthPerYear": 0.023813305828505493, "yearsOfData": 5, "operatingMargin": 0.5762861760849013, "operatingMarginPrior": 0.5532005538395995, "netMargin": 0.45646671342746487, "operatingCashFlow": 17648000000, "capitalSpending": 489000000, "freeCashFlow": 17159000000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 10566000000, "longTermDebt": 19000000000, "longTermDebtChange": 0.042466805662240814, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 29845000000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 22237000000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 25098000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 28167000000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 32791000000 } ], "totalEquity": 7737000000, "totalAssets": 54157000000, "equityRatio": 0.1428624185239212, "returnOnEquity": 1.9345999741501874, "dividendsPaid": 2756000000, "payoutRatio": 0.18412613575628006, "dividendPerShare": 3.15, "dividendYearsRising": 12, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 16.54, "sharesOutstanding": 906000000, "bookValuePerShare": 8.539735099337749, "revenuePerShare": 36.19315673289183, "range80": { "low": 29290050290.085835, "high": 44949880684.921295, "baseline": 37748730104.42123, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.21247375648615724, "classVolatility": 0.06659579566308972, "volatility": 0.1574485585760296 }, "ifPaceHeld": { "low": 29290050290.085835, "high": 44949880684.921295 } }, "edgarette": "🔖 Exposure: revenue $32.8B (FY2025), total debt $19.0B. Experience: revenue up 16.4% on the year, up 2.4% a year over 4 years; operating margin 57.6%, up from 55.3%. Soundness: equity 14.3% of assets, return on equity 193.5%, payout 18.4% of profit, dividend per share up 12 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $29.3B and $44.9B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $24.3B to $53.4B. A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin 57.6% against a 7.9% median; growth 16.4% against 10.2%.", "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "summary": "Mastercard Incorporated (MA) grew revenue 16.4% in FY2025 to $32.8 billion, operating margin 57.6% against a 7.9% median for services-business services, nec, equity 14.3% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Mastercard Incorporated against its own record and its peers
Operating marginPeer median 7.9%57.6%Revenue, on the yearPeer median 10.2%16.4%Equity of assetsPeer median 39.6%14.3%Return on equityPeer median 9.3%193.5%Payout of profitPeer median 29.3%18.4%Gold tick: the median of 14–67 peers with $50M+ revenue in services-business services, nec
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit18.4% paid out81.6% keptHanded back per share$3.15up 12 years runningGrowth its own profit can fund157.8%retained x return on equityRevenue growth it managed16.4%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 10, "rate": 0.6666666666666666, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 0, 1 ], "2018": [ 0, 1 ], "2019": [ 0, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:56:48.211Z", "hash": "e6d368c3c1679913", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Mastercard Incorporated (MA) grew revenue 16.4% in FY2025 to $32.8 billion, operating margin 57.6% against a 7.9% median for services-business services, nec, equity 14.3% of assets, and dividend per share up 12 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 32791000000, "totalDebt": 19000000000, "cash": 10566000000 }, "experience": { "revenueGrowth1y": 0.16416373770724602, "revenueGrowthPerYear": 0.023813305828505493, "operatingMargin": 0.5762861760849013, "operatingMarginPrior": 0.5532005538395995, "netMargin": 0.45646671342746487, "freeCashFlow": 17159000000 }, "soundness": { "equityRatio": 0.1428624185239212, "returnOnEquity": 1.9345999741501874, "payoutRatio": 0.18412613575628006, "dividendPerShare": 3.15, "dividendYearsRising": 12, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-06-02", "url": "https://www.sec.gov/Archives/edgar/data/1141391/000114139126000037/0001141391-26-000037-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 29290050290.085835, "high": 44949880684.921295, "baseline": 37748730104.42123, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.21247375648615724, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.1574485585760296, "k": 3 }, "stress": { "low": 24266610533.20533, "high": 53365996536.5794, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 10, "rate": 0.6666666666666666, "method": "v4", "byYear": { "2011": [ 1, 1 ], "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 0, 1 ], "2018": [ 0, 1 ], "2019": [ 0, 1 ], "2020": [ 0, 1 ], "2021": [ 1, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:56:48.211Z", "hash": "e6d368c3c1679913", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001141391.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1141391" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.5382, "growth3y": 0.1382, "volatility": 0.2125, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.1429, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 53.8% of revenue into operating cash; revenue growing 13.8% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 99th percentile for cash, 86th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 99, "growthPctInClass": 86, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 17648000000, "investing": -1362000000, "financing": -14179000000, "capitalSpending": 489000000, "free": 17159000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 9463000000, "free": 9056000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 11195000000, "free": 10753000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 11980000000, "free": 11609000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 14780000000, "free": 14306000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 17648000000, "free": 17159000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 10566000000, "shortTerm": 103000000, "longTerm": 216000000, "equityHoldings": null, "totalAssets": 54157000000, "ladder": { "within1y": 103000000, "y1to5": 216000000, "y5to10": null, "y10plus": null, "noSingleDate": null }, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.5382, "growth3y": 0.1382, "volatility": 0.2125, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.1429, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 53.8% of revenue into operating cash; revenue growing 13.8% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 99th percentile for cash, 86th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$10B+", "cashPctInClass": 99, "growthPctInClass": 86, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 17648000000, "investing": -1362000000, "financing": -14179000000, "capitalSpending": 489000000, "free": 17159000000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 9463000000, "free": 9056000000 }, { "fiscalYearEnd": "2022-12-31", "operating": 11195000000, "free": 10753000000 }, { "fiscalYearEnd": "2023-12-31", "operating": 11980000000, "free": 11609000000 }, { "fiscalYearEnd": "2024-12-31", "operating": 14780000000, "free": 14306000000 }, { "fiscalYearEnd": "2025-12-31", "operating": 17648000000, "free": 17159000000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 10566000000, "shortTerm": 103000000, "longTerm": 216000000, "equityHoldings": null, "totalAssets": 54157000000, "ladder": { "within1y": 103000000, "y1to5": 216000000, "y5to10": null, "y10plus": null, "noSingleDate": null }, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }