What is Mastercard's net investment gains (losses)?

Mastercard (MA) reported net investment gains (losses) of $41M in Q3 2025.

How has Mastercard's net investment gains (losses) changed year-over-year?

Mastercard's net investment gains (losses) increased by 166.1% year-over-year, from -$62M to $41M.

What does net investment gains (losses) mean?

Net realized and unrealized gains and losses on the company's investment portfolio, including equity securities, debt securities, and alternative investments.

Mastercard MA Net investment gains (losses)

Discontinued — last reported Q3 '25

Net investment gains (losses) at other companies

Banner CorporationBANR

-$1.24M—

American ExpressAXP

——

Segments

By segment

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Payment Solutions$66M+128%

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$462.29B-9.9%

Enterprise value$473.35B-9.5%

P/E29.7×-8.1×

P/S13.6×-3.3×

Profitability

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Operating margin57.9%+2.4pp

Net margin45.9%+0.7pp

FCF margin52.4%+0.8pp

Returns & leverage

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Return on equity232.6%+43.6pp

Debt / equity2.8×0.0×

Current ratio1×-0.1×

Where this comes from

Reported directly by Mastercard in its filing.

Tagged under the XBRL concept us-gaap:EquitySecuritiesFvNiGainLoss.

The official record: Mastercard’s 10-Q, filed October 30, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mastercard's net investment gains (losses)?: Mastercard (MA) reported net investment gains (losses) of $41M in Q3 2025.
How has Mastercard's net investment gains (losses) changed year-over-year?: Mastercard's net investment gains (losses) increased by 166.1% year-over-year, from -$62M to $41M.
What does net investment gains (losses) mean?: Net realized and unrealized gains and losses on the company's investment portfolio, including equity securities, debt securities, and alternative investments.