Mastercard Incorporated
Financial ServicesNYSE:MA · New York Stock Exchange
+$2.50 today
Vol 1.53M · Avg 3.57M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$33.9B of revenue converted into $15.6B of net income for the selected period. Gross margin is 82.7% and net margin is 45.9%, showing how much revenue survives after costs and taxes. EPS is $17.28, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.8B +16.4% | $28.2B +12.2% | $25.1B +12.9% | $22.2B +17.8% | $18.9B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $5.4B -18.6% | $6.7B +10.8% | $6.0B +14.4% | $5.3B +17.2% | $4.5B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $27.4B +27.3% | $21.5B +12.7% | $19.1B +12.4% | $17.0B +17.9% | $14.4B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 83.4% +7.1pp | 76.3% +0.3pp | 76.0% -0.3pp | 76.3% +0.1pp | 76.2% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $7.1B +67.3% | $4.3B +17.1% | $3.6B +4.1% | $3.5B +1.7% | $3.4B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $8.0B +34.6% | $5.9B +16.7% | $5.1B +7.6% | $4.7B +9.2% | $4.3B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $1.1B +27.4% | $897.0M +12.3% | $799.0M +6.5% | $750.0M +3.3% | $726.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $20.2B +20.2% | $16.8B +11.9% | $15.0B +15.9% | $13.0B +13.0% | $11.5B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 61.6% +2.0pp | 59.6% -0.2pp | 59.8% +1.6pp | 58.2% -2.5pp | 60.7% | 5.6% | 46.3% | 42.0% |
| Operating Income | $19.4B +24.5% | $15.6B +11.2% | $14.0B +14.2% | $12.3B +21.6% | $10.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 59.2% +3.8pp | 55.3% -0.5pp | 55.8% +0.7pp | 55.2% +1.8pp | 53.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $722.0M +11.8% | $646.0M +12.3% | $575.0M +22.1% | $471.0M +9.3% | $431.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$823.0M -150.9% | -$328.0M +11.1% | -$369.0M +30.6% | -$532.0M -336.4% | $225.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $18.6B +21.8% | $15.3B +11.8% | $13.6B +16.3% | $11.7B +13.8% | $10.3B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 56.7% +2.5pp | 54.2% -0.2pp | 54.3% +1.6pp | 52.8% -1.8pp | 54.6% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $3.6B +51.7% | $2.4B -2.6% | $2.4B +35.6% | $1.8B +11.2% | $1.6B | $1.3B | -$1.6B | $745.2M |
| Net Income | $15.0B +16.3% | $12.9B +15.0% | $11.2B +12.7% | $9.9B +14.3% | $8.7B | $4.9B | $4.8B | $4.7B |
| Net Margin | 45.6% -0.1pp | 45.7% +1.1pp | 44.6% -0.1pp | 44.7% -1.3pp | 46.0% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $17 +18.9% | $14 +17.4% | $12 +15.6% | $10 +16.7% | $9 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $17 +18.9% | $14 +17.4% | $12 +15.6% | $10 +16.8% | $9 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $897.0M -3.0% | $925.0M -2.0% | $944.0M -2.5% | $968.0M -2.0% | $988.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $898.0M -3.1% | $927.0M -2.0% | $946.0M -2.6% | $971.0M -2.1% | $992.0M | $1.2B | $924.4M | $678.0M |
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How much revenue does MA generate?
Mastercard Incorporated (MA) reported $32.79B of revenue in fiscal 2025.
Is MA profitable?
Mastercard Incorporated (MA) reported $14.97B of net income, with a net margin of 45.6%.
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