Where do Mastercard's ratios come from?

Every ratio is computed from Mastercard's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Mastercard MA Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	57.9%+0.3pp	57.6%+0.7pp	57%+1.2pp	55.8%+0.3pp	55.5%+0.2pp
Net margin	45.9%+0.2pp	45.6%+0.4pp	45.3%+0.3pp	44.9%-0.3pp	45.2%-0.5pp
EBITDA margin	61.4%+0.2pp	61.1%+0.7pp	60.4%+1.2pp	59.1%+0.4pp	58.8%+0.3pp
Free cash flow margin	52.4%+0.1pp	52.3%-1.7pp	54%-0.7pp	54.7%+3.1pp	51.6%+0.9pp
Returns
Return on equity	232.6%+22.1pp	210.5%+24.8pp	185.7%+7.8pp	177.9%-11.0pp	188.9%-3.0pp
Return on assets	30.9%+1.6pp	29.3%+0.9pp	28.4%-0.6pp	29%+0.1pp	28.9%+0.4pp
Return on invested capital	88.6%-0.8pp	89.5%-6.8pp	96.3%+12.2pp	84.1%+4.0pp	80.1%-3.9pp
Efficiency
Asset turnover	0.7×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×	0.6×0.0×
Liquidity
Current ratio	1×-0.1×	1×-0.1×	1.1×0.0×	1.2×+0.1×	1.1×+0.1×
Quick ratio	1×-0.1×	1×-0.1×	1.1×0.0×	1.2×+0.1×	1.1×+0.1×
Cash ratio	0.3×-0.1×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.4×0.0×
Leverage
Debt-to-equity	2.8×+0.3×	2.6×+0.2×	2.4×0.0×	2.4×-0.4×	2.8×-0.1×
Debt-to-assets	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	0.5×+0.1×	0.5×0.0×	0.5×-0.1×	0.6×-0.1×	0.7×0.0×
Interest coverage	27.1×+0.9×	26.2×+2.2×	24×+0.6×	23.4×-0.4×	23.8×-0.3×
Per Share
Book value per share	$7.52-11.9%	$8.54-2.2%	$8.73+1.1%	$8.64+18.4%	$7.30+4.3%
Valuation
Market capitalization	$445.6B-13.1%	$512.65B-0.3%	$514.21B+1.6%	$506.28B+1.3%	$499.73B+3.4%
Enterprise value	$456.66B-12.5%	$521.91B-0.2%	$522.88B+1.3%	$516.22B+1.0%	$510.95B+3.5%
Price / earnings	28.6×-5.6×	34.2×-1.8×	36.1×-1.2×	37.3×-0.8×	38×+0.5×
Price / sales	13.1×-2.5×	15.6×-0.7×	16.3×-0.4×	16.7×-0.4×	17.2×0.0×
Price / book	66.3×+0.1×	66.3×+1.2×	65.1×+0.6×	64.5×-10.4×	74.9×+0.4×
EV / EBITDA	21.9×-4.1×	26×-1.5×	27.5×-1.4×	28.9×-1.0×	29.9×-0.1×
EV / sales	13.5×-2.5×	15.9×-0.7×	16.6×-0.5×	17.1×-0.5×	17.6×0.0×
Free cash flow yield	4%+0.6pp	3.3%0.0pp	3.3%0.0pp	3.3%+0.3pp	3%0.0pp
Earnings yield	3.5%+0.6pp	2.9%+0.1pp	2.8%+0.1pp	2.7%+0.1pp	2.6%0.0pp
Dividend yield	0.6%+0.1pp	0.5%0.0pp	0.5%0.0pp	0.5%0.0pp	0.5%0.0pp
PEG ratio	1.5×-0.6×	2.1×-0.2×	2.3×-1.1×	3.4×0.0×	3.5×+1.0×

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Questions, answered.

Where do Mastercard's ratios come from?: Every ratio is computed from Mastercard's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.