MA
Mastercard Incorporated
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Mastercard Incorporated.
Coverage
Mastercard Q2 2026: Beat and Raised Margins — Stock Barely Moves
Mastercard beat on revenue, EPS, and margin, with value-added services growing 20%, and the stock traded roughly flat while American Express fell 6% the same week. We break down why network scale keeps compounding quietly.
Mastercard Beat Q1 Expectations
EPS +15% YoY, revenue +15% YoY; cross-border +14%; reducing headcount 4% via efficiencies (AI?); green in red market.
Mastercard Q1 Earnings
Down -1.7% premarket despite beat; analysts positive on VAS growth and AI tools.
Mastercard Dipping 2% After Hours
Despite double beat, credit card rate cap fears linger—good numbers not enough.
Mastercard Up 4%
Gapped up on earnings beat; cross-border +14%, services growth; solid guide.
Latest: $9.28B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $3.84B |
| 2020Q4 | $4.12B |
| 2021Q1 | $4.16B |
| 2021Q2 | $4.53B |
| 2021Q3 | $4.99B |
| 2021Q4 | $5.22B |
| 2022Q1 | $5.17B |
| 2022Q2 | $5.50B |
| 2022Q3 | $5.76B |
| 2022Q4 | $5.82B |
| 2023Q1 | $5.75B |
| 2023Q2 | $6.27B |
| 2023Q3 | $6.53B |
| 2023Q4 | $6.55B |
| 2024Q1 | $6.35B |
| 2024Q2 | $6.96B |
| 2024Q3 | $7.37B |
| 2024Q4 | $7.49B |
| 2025Q1 | $7.25B |
| 2025Q2 | $8.13B |
| 2025Q3 | $8.60B |
| 2025Q4 | $8.81B |
| 2026Q1 | $8.40B |
| 2026Q2 | $9.28B |
Latest: $4.97 (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $1.51 |
| 2020Q4 | $1.77 |
| 2021Q1 | $1.83 |
| 2021Q2 | $2.08 |
| 2021Q3 | $2.44 |
| 2021Q4 | $2.41 |
| 2022Q1 | $2.68 |
| 2022Q2 | $2.34 |
| 2022Q3 | $2.58 |
| 2022Q4 | $2.62 |
| 2023Q1 | $2.47 |
| 2023Q2 | $3.00 |
| 2023Q3 | $3.39 |
| 2023Q4 | $2.97 |
| 2024Q1 | $3.22 |
| 2024Q2 | $3.50 |
| 2024Q3 | $3.53 |
| 2024Q4 | $3.64 |
| 2025Q1 | $3.59 |
| 2025Q2 | $4.07 |
| 2025Q3 | $4.34 |
| 2025Q4 | $4.52 |
| 2026Q1 | $4.35 |
| 2026Q2 | $4.97 |
Latest: 28.9 (2026Q1)
| Period | Value |
|---|---|
| 2020Q2 | 39.6 |
| 2020Q3 | 49.1 |
| 2020Q4 | 54.3 |
| 2021Q1 | 53.0 |
| 2021Q2 | 49.3 |
| 2021Q3 | 41.7 |
| 2021Q4 | 40.0 |
| 2022Q1 | 36.3 |
| 2022Q2 | 31.3 |
| 2022Q3 | 27.8 |
| 2022Q4 | 33.4 |
| 2023Q1 | 35.7 |
| 2023Q2 | 36.3 |
| 2023Q3 | 34.0 |
| 2023Q4 | 35.6 |
| 2024Q1 | 37.8 |
| 2024Q2 | 33.4 |
| 2024Q3 | 37.0 |
| 2024Q4 | 37.6 |
| 2025Q1 | 38.2 |
| 2025Q2 | 37.7 |
| 2025Q3 | 36.3 |
| 2025Q4 | 34.5 |
| 2026Q1 | 28.9 |
Latest: $3.48B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $1.49B |
| 2020Q4 | $2.10B |
| 2021Q1 | $1.40B |
| 2021Q2 | $2.19B |
| 2021Q3 | $2.40B |
| 2021Q4 | $3.07B |
| 2022Q1 | $1.64B |
| 2022Q2 | $2.40B |
| 2022Q3 | $3.75B |
| 2022Q4 | $2.97B |
| 2023Q1 | $1.81B |
| 2023Q2 | $2.62B |
| 2023Q3 | $3.13B |
| 2023Q4 | $4.05B |
| 2024Q1 | $1.51B |
| 2024Q2 | $3.02B |
| 2024Q3 | $5.03B |
| 2024Q4 | $4.74B |
| 2025Q1 | $2.22B |
| 2025Q2 | $4.56B |
| 2025Q3 | $5.49B |
| 2025Q4 | $4.89B |
| 2026Q1 | $2.85B |
| 2026Q2 | $3.48B |
Latest: $905,000,000.00 (2025Q3)
| Period | Value |
|---|---|
| 2009Q3 | $109,773,787.00 |
| 2010Q2 | $118,834,396.00 |
| 2010Q3 | $122,530,193.00 |
| 2015Q4 | $1,160,000,000.00 |
| 2017Q4 | $1,099,000,000.00 |
| 2018Q4 | $1,068,000,000.00 |
| 2020Q1 | $1,032,000,000.00 |
| 2020Q2 | $1,025,000,000.00 |
| 2020Q3 | $1,019,000,000.00 |
| 2021Q1 | $1,010,000,000.00 |
| 2021Q2 | $1,008,000,000.00 |
| 2021Q3 | $1,005,000,000.00 |
| 2022Q1 | $998,000,000.00 |
| 2022Q2 | $994,000,000.00 |
| 2022Q3 | $990,000,000.00 |
| 2023Q1 | $981,000,000.00 |
| 2023Q2 | $974,000,000.00 |
| 2023Q3 | $968,000,000.00 |
| 2024Q1 | $956,000,000.00 |
| 2024Q2 | $949,000,000.00 |
| 2024Q3 | $943,000,000.00 |
| 2025Q1 | $914,000,000.00 |
| 2025Q2 | $909,000,000.00 |
| 2025Q3 | $905,000,000.00 |
Latest: $114.30B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $42.99B |
| 2020Q4 | $45.09B |
| 2021Q1 | $46.49B |
| 2021Q2 | $48.68B |
| 2021Q3 | $51.08B |
| 2021Q4 | $54.15B |
| 2022Q1 | $55.78B |
| 2022Q2 | $58.19B |
| 2022Q3 | $61.93B |
| 2022Q4 | $64.90B |
| 2023Q1 | $66.71B |
| 2023Q2 | $69.33B |
| 2023Q3 | $72.46B |
| 2023Q4 | $76.51B |
| 2024Q1 | $78.02B |
| 2024Q2 | $81.05B |
| 2024Q3 | $86.08B |
| 2024Q4 | $90.81B |
| 2025Q1 | $93.04B |
| 2025Q2 | $97.60B |
| 2025Q3 | $103.08B |
| 2025Q4 | $107.97B |
| 2026Q1 | $110.82B |
| 2026Q2 | $114.30B |
Latest results
Company History
Founded by a group of California banks as Interbank Card Association to compete with BankAmericard (later Visa).
Renamed to Master Charge: The Interbank Card, establishing unified branding.
Changed name from Master Charge to Mastercard to reflect global expansion.
Went public on NYSE, raising $2.4 billion in one of the largest IPOs that year.
Acquired payment gateway DataCash for $520 million, expanding e-commerce capabilities.
Acquired UK-based VocaLink for $920 million, gaining real-time payments infrastructure.
Acquired European payment services for $3.2 billion.
Following the Russian invasion of Ukraine, Mastercard suspended all business operations in Russia in March 2022.
Key Players
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