Mastercard
Runs a global payment network alongside security, analytics and account-based payment services.
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Profile
Runs a global network that switches domestic and cross-border payments for financial institutions, earning fees tied to payment volume and transactions. Security, analytics, authentication, processing, open finance and account-based payment services add fixed and transaction-based revenue, while card issuance, credit and customer relationships remain with partner banks.
Connects account holders, issuers, acquirers and merchants through a payment network spanning more than 220 countries and territories. Payment Network services authorize, clear and settle domestic and cross-border consumer and commercial transactions. Its globally integrated architecture combines transaction routing with tokenization and fraud scoring, while financial institutions retain cardholder and merchant relationships.
Value-Added Services and Solutions covers security and threat intelligence, digital identity and authentication, data and market insights, processing and gateways, open finance, and real-time account-based payments; newly acquired BVNK adds stablecoin infrastructure. Revenue comes from payment-volume and transaction-based network fees plus fixed or transaction-based service fees. Cross-border activity, payment and data regulation, and issuer-acquirer relationships shape the business. It does not issue cards or extend credit.
Company facts
Key statistics
Year to date +5.7% · Average volume (30d) 2.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 25, 2026 | Wolfe Research | Reiterate | Outperform | $655 | $740 |
| Aug 5, 2026 | Truist Financial | Target | $554 | $633 | |
| Aug 3, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $650 | $695 |
| Jul 31, 2026 | RBC Capital | Reiterate | Outperform | $526 | $642 |
| Jul 31, 2026 | Raymond James | Reiterate | Outperform | $609 | $632 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $4.77 | $5.04 | +5.7% | $9.08B | $9.28B | +2.2% | +2.49% |
| Apr 30, 2026Q1 FY26 | $4.41 | $4.60 | +4.3% | $8.26B | $8.40B | +1.7% | −1.48% |
| Jan 29, 2026Q4 FY25 | $4.24 | $4.76 | +12.3% | $8.77B | $8.81B | +0.4% | −0.91% |
| Oct 30, 2025Q3 FY25 | $4.32 | $4.38 | +1.4% | $8.53B | $8.60B | +0.8% | −0.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $7.25B | $8.13B | $8.60B | $8.81B | $8.40B | $9.28B | |
| Gross profit | $5.56B | $6.28B | $6.71B | $6.99B | $8.40B | $9.28B | |
| Operating income | $4.15B | $4.78B | $5.17B | $5.13B | $4.97B | $5.73B | |
| Net income | $3.28B | $3.70B | $3.93B | $4.06B | $3.88B | $4.39B | |
| Diluted EPS | $3.59 | $4.07 | $4.34 | $4.52 | $4.35 | $4.97 | |
| Gross margin | 76.7% | 77.2% | 78.0% | 79.4% | 100.0% | 100.0% | |
| Operating margin | 57.2% | 58.7% | 60.1% | 58.2% | 59.1% | 61.7% |
Fiscal years (4-quarter sums)FY21 $18.88B · FY22 $22.24B · FY23 $25.10B · FY24 $28.17B · FY25 $32.79B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $11.61B · Total debt $24.64B · Total assets $57.69B · Shareholders' equity $5.61B
Dividends
Raised for 18 straight years — most recently to $0.87 from $0.76 in Jan 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 9, 2026 | Jul 9 | Aug 7 | $0.87 | |
| Apr 9, 2026 | Apr 9 | May 8 | $0.87 | |
| Jan 9, 2026 | Jan 9 | Feb 9 | $0.87 | raised from $0.76 |
| Oct 9, 2025 | Oct 9 | Nov 7 | $0.76 | |
| Jul 9, 2025 | Jul 9 | Aug 8 | $0.76 | |
| Apr 9, 2025 | Apr 9 | May 9 | $0.76 | |
| Jan 10, 2025 | Jan 10 | Feb 7 | $0.76 | raised from $0.66 |
| Oct 9, 2024 | Oct 9 | Nov 8 | $0.66 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 877.04M · Float 868.23M · 99.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 66.39M | 7.57% | 13F | Aug 7, 2026 |
| Mastercard Foundation Asset Management Corp | 60.35M | 6.88% | 13F | Jul 29, 2026 |
| Vanguard Capital Management LLC | 52.12M | 5.94% | 13F | Aug 13, 2026 |
| State Street Corp | 36.96M | 4.21% | 13F | Aug 7, 2026 |
| JPMorgan Chase & Co | 28.23M | 3.22% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | J. Mehra Sachin | officer: Chief Business Officer | −1,000 | $572.07 |
| Aug 19, 2026 | J. Mehra Sachin | officer: Chief Business Officer | −7,444 | $577.13 |
| Aug 17, 2026 | Linda Pistecchia Kirkpatrick | officer: Chief Services Officer | −1,191 | $565.24 |
| Aug 5, 2026 | Michael Miebach | director, officer: President & CEO | −15,372 | $575.00 |
| Aug 5, 2026 | J. Mehra Sachin | officer: Chief Business Officer | −3,000 | $571.87 |
Peers
- Visa
Dominant open-loop card network, closest peer on every revenue dimension.
- American Express
Closed-loop rival dominating premium spend, corporate T&E, and cobrand cards.
- Capital One
Card issuer turned network owner; migrating volume off Mastercard/Visa rails.
- PayPal
Dominant digital wallet owning the checkout UX layer across card and A2A flows.
- Block
SMB payments + consumer wallet + BNPL competing across merchant and P2P layers.
- Klarna
World's largest BNPL platform; bypasses card rails with direct merchant fees.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mastercard | $595.33 | −0.00% | $522.10B | 32.7 | 28.0 | 14.9 | +14.1% |
| Visa | $381.03 | −0.14% | $712.47B | 32.4 | 26.4 | 16.0 | +14.4% |
| American Express | $333.50 | +0.10% | $225.01B | 20.2 | 17.9 | 2.7 | +10.0% |
| Capital One | $223.60 | +3.64% | $132.31B | 13.3 | 9.9 | 1.7 | +26.0% |
| PayPal | $53.74 | +0.15% | $45.90B | 10.1 | 9.7 | 1.3 | +4.8% |
| Block | $83.54 | −0.05% | $49.74B | 149.2 | 18.3 | 2.0 | +9.3% |
| Klarna | $14.33 | +1.06% | $5.36B | — | 106.9 | 1.3 | — |
| Median | 20.2 | 18.1 | 1.8 | +10.0% |