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Mastercard MA Debt-to-equity

Debt-to-equity at other companies

American Express logo
American ExpressAXP
1.8×+0.1×
Visa logo
VisaV
0.7×+0.1×
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
0.5×-0.1×
U.S. Bancorp logo
U.S. BancorpUSB
1.2×-0.1×
Capital One Financial logo
Capital One FinancialCOF
0.5×-0.2×
Fidelity National Information Services logo
Fidelity National Information ServicesFIS
1.3×+0.7×

Other financials

Income statement

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Revenue$8.4B+15.8%
Operating income$4.9B+18.3%
Net income$3.9B+18.4%
EPS (diluted)$4.35+21.2%

Balance sheet

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Cash & equivalents$7.9B+4.4%
Total debt$19.0B+0.8%
Total equity$6.7B+0.7%
Total assets$52.4B+8.2%

Cash flow

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Operating cash flow$3.0B+26.0%
CapEx$154.0M-3.1%
Free cash flow$2.8B+28.1%

Valuation

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Market cap$435.6B-10.8%
Enterprise value$446.65B-10.6%
P/E28×-9.2×
P/S12.8×-4.0×

Profitability

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Operating margin57.9%+2.4pp
Net margin45.9%+0.7pp

Returns & leverage

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Return on equity232.6%+43.6pp
Current ratio-0.1×

Where this comes from

Calculated from Mastercard’s reported figures.

Based on the most recent quarter.

The official record: Mastercard’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mastercard's debt-to-equity?
Mastercard (MA) reported debt-to-equity of 2.8× in Q1 2026.
How has Mastercard's debt-to-equity changed year-over-year?
Mastercard's debt-to-equity increased by 0.1% year-over-year, from 2.8× to 2.8×.
What is the long-term trend for Mastercard's debt-to-equity?
Over 4 years (2021 to 2025), Mastercard's debt-to-equity has grown at a 3.7% compound annual growth rate (CAGR), from 8.8× to 10.2×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.