ValueScreener
Mastercard IncorporatedMANYSE

Debt/Equity stays at or below 3.2. It has not broken in 10 filed years.

Today it reads 2.56x. Tested against 10 filed years.

Write a thesis
Named tests met3 of 30
660.73 USD Market data. Sources for Share priceClose of Nov 11, 2026

Market data as of Nov 11, 2026. Ratios computed Nov 11, 2026.

ValueScreener company report

NYSE / Financial Services / Financial - Credit Services

Reading

The evidence behind it

Overview

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

89.5% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

39.95x Computed

FY2025 accounts, priced at 21:00 UTC

Read valuation

Cash generation

Free cash flow yield

2.9% Computed

FY2025 accounts, priced at 21:00 UTC

Read cash generation

Strength

Debt to equity

2.56 Computed

From the FY2025 filing

Read strength

Revenue and net income, as filed

FY2016 Revenue: 10.78B USDFY2016 Net income: 4.06B USDFY2017 Revenue: 12.50B USDFY2017 Net income: 3.92B USDFY2018 Revenue: 14.95B USDFY2018 Net income: 5.86B USDFY2019 Revenue: 16.88B USDFY2019 Net income: 8.12B USDFY2020 Revenue: 15.30B USDFY2020 Net income: 6.41B USDFY2021 Revenue: 18.88B USDFY2021 Net income: 8.69B USDFY2022 Revenue: 22.24B USDFY2022 Net income: 9.93B USDFY2023 Revenue: 25.10B USDFY2023 Net income: 11.20B USDFY2024 Revenue: 28.17B USDFY2024 Net income: 12.87B USDFY2025 Revenue: 32.79B USDFY2025 Net income: 14.97B USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Market capitalisation
575.60B USD Market data. Sources for Market capitalisation21:00 UTC
Filed accounts
FY2025, filed Feb 11, 2026
Filed years
10, FY2016 to FY2025
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 39.95x at the close of 2026-11-11 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Financial - Credit Services industry (43 companies), 39.95x sits at the 99th percentile; the middle half of that group runs from 4.83x to 20.43x.

Is it good

Return on invested capital was 89.5% in FY2025, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Financial Services sector (77 companies), 89.5% sits at the 97th percentile; the middle half of that group runs from -0.5% to 9.2%.

Is it safe

Interest coverage was 26.17x in FY2025, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.

Year by year against peers
Whether Mastercard Incorporated's return on equity stayed above the median of the Financial - Credit Services industry, year by year. (FY2016 to FY2025, 10 fiscal years of Mastercard Incorporated with a comparable figure)
The direction
Which way Mastercard Incorporated's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Mastercard Incorporated)
What could explain it
What in Mastercard Incorporated's filed statements could explain the movements. (8 readings drawn from the statement lines Mastercard Incorporated filed)
What to check next
What to check next on Mastercard Incorporated, and where in its filings. (4 questions for Mastercard Incorporated)
In one paragraph
One paragraph on Mastercard Incorporated's returns, cash, balance sheet and price. (15 of sixteen figures read for Mastercard Incorporated)

These are MA’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

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What changed

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 11, 2026, accession 0001141391-26-000013.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

  • 4 figures could not be read on this company, among them Current Ratio, Altman Z-Score, Gross Margin. Each blank in the table above names the rest, with its reason. 1 named test comes back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Then we check your line against newly filed data and write to you the night our data shows it broke. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published. It is Professional, the plan a new account starts on for 30 days, one trial per person.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, and what it can mean for a thesis.

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