Financials in USD. Standardized financial statements.
A compact view of how Mastercard Incorporated turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $32.79B | $28.17B | $25.10B | $22.24B | $18.88B | $15.30B | $16.88B | $14.95B | $12.50B | $10.78B |
| Revenue Growth? | +16.4% | +12.2% | +12.9% | +17.8% | +23.4% | -9.4% | +12.9% | +19.6% | +16.0% | 0.0% |
| Cost of Revenue? | $5.43B | $6.67B | $6.02B | $5.26B | $4.49B | $3.79B | $3.54B | $3.21B | $2.69B | $2.23B |
| Gross Profit? | $27.36B | $21.49B | $19.08B | $16.97B | $14.39B | $11.51B | $13.35B | $11.74B | $9.81B | $8.55B |
| Gross Margin? | +83.4% | +76.3% | +76.0% | +76.3% | +76.2% | +75.2% | +79.0% | +78.5% | +78.5% | +79.4% |
| Operating Expenses? | $7.96B | $5.91B | $5.07B | $4.71B | $4.31B | $3.43B | $3.68B | $4.45B | $3.19B | $2.79B |
| Operating Income? | $19.40B | $15.58B | $14.01B | $12.26B | $10.08B | $8.08B | $9.66B | $7.28B | $6.62B | $5.76B |
| EBITDA? | $20.19B | $16.80B | $15.01B | $12.95B | $11.46B | $8.72B | $10.48B | $7.85B | $7.11B | $6.11B |
| Income Before Tax | $18.58B | $15.25B | $13.64B | $11.73B | $10.31B | $7.76B | $9.73B | $7.20B | $6.52B | $5.65B |
| Income Tax Expense | $3.61B | $2.38B | $2.44B | $1.80B | $1.62B | $1.35B | $1.61B | $1.34B | $2.61B | $1.59B |
| Net Income? | $14.97B | $12.87B | $11.20B | $9.93B | $8.69B | $6.41B | $8.12B | $5.86B | $3.92B | $4.06B |
| EPS? | $16.55 | $13.92 | $11.86 | $10.26 | $8.79 | $6.40 | $7.98 | $5.63 | $3.67 | $3.70 |
| Diluted EPS? | $16.52 | $13.89 | $11.83 | $10.23 | $8.76 | $6.37 | $7.94 | $5.60 | $3.65 | $3.69 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality