Marqeta MQ Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 70%0.0pp | 70%-0.6pp | 70.6%-0.1pp | 70.7%+1.3pp | 69.4%0.0pp | |
| Operating margin | -4%+3.5pp | -7.4%+5.4pp | -12.8%+6.6pp | -19.4%-20.7pp | 1.3%+6.1pp | |
| Net margin | 0.3%+2.6pp | -2.2%— | —— | —— | —— | |
| EBITDA margin | 0.8%+3.8pp | -3.1%+5.6pp | -8.7%+6.8pp | -15.4%-20.4pp | 4.9%+6.3pp | |
| Free cash flow margin | 22.6%-3.1pp | 25.7%+3.3pp | 22.4%+12.9pp | 9.5%-2.8pp | 12.4%+1.4pp | |
| Returns | ||||||
| Return on equity | 0.3%+1.8pp | -1.5%— | —— | —— | —— | |
| Return on assets | 0.2%+1.1pp | -0.9%— | —— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 0.5×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | |
| Liquidity | ||||||
| Current ratio | 1.6×0.0× | 1.6×-0.2× | 1.9×-0.9× | 2.7×-0.4× | 3.2×-0.2× | |
| Quick ratio | 1.6×0.0× | 1.6×-0.2× | 1.9×-0.9× | 2.7×-0.4× | 3.2×-0.2× | |
| Cash ratio | 1.3×0.0× | 1.4×-0.2× | 1.5×-0.5× | 2.1×-0.3× | 2.4×-0.2× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Debt-to-assets | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Net debt / EBITDA | -194.1×— | —— | —— | —— | -32×— | |
| Per Share | ||||||
| Book value per share | $1.71+3.8% | $1.65-11.8% | $1.87+2.3% | $1.83-7.2% | $1.97-5.8% | |
| Valuation | ||||||
| Market capitalization | $1.74B-16.6% | $2.09B-11.7% | $2.37B-12.1% | $2.69B+29.6% | $2.08B+9.1% | |
| Enterprise value | $794.31M-26.5% | $1.08B-22.3% | $1.39B-28.9% | $1.96B+57.6% | $1.24B+27.1% | |
| Price / earnings | 803.6×— | —— | —— | —— | —— | |
| Price / sales | 2.7×-0.7× | 3.3×-0.7× | 4×-0.8× | 4.9×+0.9× | 3.9×+0.2× | |
| Price / book | 2.3×-0.4× | 2.7×-0.1× | 2.8×-0.4× | 3.2×+1.1× | 2.1×+0.3× | |
| EV / EBITDA | 162.5×— | —— | —— | —— | 47.6×— | |
| EV / sales | 1.2×-0.5× | 1.7×-0.6× | 2.4×-1.2× | 3.5×+1.2× | 2.4×+0.4× | |
| Free cash flow yield | 8.5%+0.8pp | 7.7%+2.1pp | 5.6%+3.6pp | 2%-1.2pp | 3.1%+0.2pp | |
| Earnings yield | 0.1%+0.8pp | -0.7%— | —— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Marqeta's profit margins?
- Marqeta (MQ) runs a 70.0% gross margin and a -4.0% operating margin, with a 0.3% net margin.
- Where do Marqeta's ratios come from?
- Every ratio is computed from Marqeta'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.