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Mastercard MA Net gains (losses) on investments

Net gains (losses) on investments at other companies

Visa logo
VisaV
-$9M+74.3%
PayPal Holdings, Inc. logo
PayPal Holdings, Inc.PYPL
-$74M-773%
Pathward Financial, Inc. logo
Pathward Financial, Inc.CASH
$0
Green Dot logo
Green DotGDOT
-$1.68M+97.8%
Fidelity National Information Services logo
Fidelity National Information ServicesFIS
$2.21B+3,218%
Commerce Bancshares logo
Commerce BancsharesCBSH
$12.83M+2,836%

Other financials

Income statement

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Revenue$9.3B+14.1%
Operating income$5.6B+17.0%
Net income$4.4B+18.6%
EPS (diluted)$4.97+22.1%

Balance sheet

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Cash & equivalents$11.3B+25.0%
Total debt$24.6B+29.9%
Total equity$5.6B-28.5%
Total assets$57.7B+12.2%

Cash flow

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Operating cash flow$3.8B-18.0%
CapEx$291.0M+628%
Free cash flow$3.5B-23.7%

Valuation

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Market cap$493.15B-5.0%
Enterprise value$506.5B-4.2%
P/E30.3×-7.9×
P/S14.1×-3.1×

Profitability

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Operating margin58.3%+2.6pp
Net margin46.3%+1.4pp
FCF margin47.6%-7.1pp

Returns & leverage

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Return on equity241.5%+63.6pp
Debt / equity4.4×+2.0×
Current ratio1.1×-0.1×

Where this comes from

Reported directly by Mastercard in its filing.

Tagged under the XBRL concept us-gaap:EquitySecuritiesFvNiRealizedGainLoss.

The source filing: Mastercard’s 10-Q, filed October 30, 2025.

Filed
Oct 30, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001141391-25-000193
Consolidated Statements of Cash Flows (Unaudited)Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of customer incentives1,5261,328
Depreciation and amortization846666
(Gains) losses on equity investments, net(16)69
Share-based compensation485418
Deferred income taxes77(261)
Other99117
Changes in operating assets and liabilities:

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

FAQ

What is Mastercard's net gains (losses) on investments?
Mastercard (MA) reported net gains (losses) on investments of $41M in Q3 2025.
How has Mastercard's net gains (losses) on investments changed year-over-year?
Mastercard's net gains (losses) on investments increased by 166.1% year-over-year, from -$62M to $41M.
What does net gains (losses) on investments mean?
Realized and unrealized gains/losses on investments removed from operating cash flow since they're investing-related.

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