Mastercard Incorporated
MANYSE
$627.38
Last price · USD
- Market cap
- $563.4B
- P/E
- 38.0x
- EV / EBITDA
- 27.8x
- P/S
- 17.2x
- FCF yield
- 2.9%
- Div. yield
- 0.49%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Mastercard Incorporated cash flow statement
Annual · USD millions except per-share data · 37 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 14,968 | 12,874 | 11,195 | 9,930 | 8,687 | +14.6% | |
| Depreciation & amortization | 1,143 | 897 | 799 | 887 | 726 | +12.0% | |
| Deferred income tax | 57 | (527) | (236) | (651) | (69) | — | |
| Stock-based compensation | 597 | 526 | 460 | 295 | 273 | +21.6% | |
| Change in working capital | (1,442) | (1,040) | (1,943) | (599) | (916) | — | |
| Accounts receivables | (733) | 21 | (506) | (421) | (7) | — | |
| Inventory | 0 | 0 | (823) | 0 | (1,440) | — | |
| Accounts payables | 45 | 75 | (99) | 190 | 100 | -18.1% | |
| Other working capital | (754) | (1,136) | (515) | (368) | 431 | — | |
| Other non-cash items | 2,325 | 2,050 | 1,705 | 1,933 | 762 | +32.2% | |
| Net cash from operating activities | 17,648 | 14,780 | 11,980 | 11,500 | 9,463 | +16.9% | |
| Operating cash flow | 17,648 | 14,780 | 11,980 | 11,500 | 9,463 | +16.9% | |
| Investing activities | |||||||
| Investments in PP&E | (489) | (474) | (371) | (1,097) | (814) | — | |
| Capital expenditure | (1,215) | (474) | (371) | (442) | (814) | — | |
| Acquisitions, net | 0 | (2,511) | 0 | (317) | (4,436) | — | |
| Purchases of investments | (868) | (658) | (736) | (594) | (911) | — | |
| Sales / maturities of investments | 719 | 586 | 479 | 537 | 856 | -4.3% | |
| Other investing activities | (724) | (345) | (723) | (3) | 33 | — | |
| Net cash from investing activities | (1,362) | (3,402) | (1,351) | (1,474) | (5,272) | — | |
| Financing activities | |||||||
| Net debt issuance | 492 | 2,624 | 1,554 | 399 | 1,374 | -22.6% | |
| Long-term net debt issuance | 492 | 2,624 | 1,554 | 399 | 1,374 | -22.6% | |
| Net stock issuance | (11,524) | (10,811) | (9,121) | (8,663) | (5,843) | — | |
| Common stock issuance | 203 | 0 | 0 | 90 | 0 | — | |
| Common stock repurchased | (11,727) | (11,035) | (9,032) | (8,753) | (5,904) | — | |
| Net common stock issuance | (11,524) | (11,035) | (9,032) | (8,663) | (5,904) | — | |
| Common dividends paid | (2,756) | (2,448) | (2,158) | (1,903) | (1,741) | — | |
| Net dividends paid | (2,756) | (2,448) | (2,158) | (1,903) | (1,741) | — | |
| Net preferred stock issuance | 0 | 224 | (89) | (141) | 61 | — | |
| Other financing activities | (391) | (201) | 237 | (157) | (345) | — | |
| Net cash from financing activities | (14,179) | (10,836) | (9,488) | (10,324) | (6,555) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 333 | (199) | 128 | (112) | (153) | — | |
| Net change in cash | 2,440 | 343 | 1,269 | (410) | (2,517) | — | |
| Cash at beginning of period | 10,808 | 10,465 | 9,196 | 8,007 | 12,419 | -3.4% | |
| Cash at end of period | 13,248 | 10,808 | 10,465 | 7,597 | 9,902 | +7.5% | |
| Free cash flow | 16,433 | 14,306 | 11,609 | 11,058 | 8,649 | +17.4% | |
| Income taxes paid | 3,020 | 3,252 | 2,746 | 2,506 | 0 | — | |
| Interest paid | 680 | 571 | 477 | 414 | 0 | — | |