← Mastercard Incorporated (MA)

Mastercard Incorporated (MA) Financials

Q1 FY2026, built from SEC filings. Accession numbers are cited throughout so every figure can be checked against sec.gov. The same data is published as JSON at financials.json for agents that prefer to fetch it directly.

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About this file

Ticker	MA
CIK	0001141391
Company	Mastercard Incorporated
Business type	Global payments network and value-added services provider (four-party card network: issuers, acquirers, merchants, account holders). Not a lender - Mastercard does not issue cards, extend credit or set interest rates or fees to account holders; it earns assessment and processing fees on volume and transactions, and fees for security, data, digital and other services.
Schema template	Payments network template. Mastercard has no cost of goods sold and no meaningful inventory, so a revenue/COGS/gross-margin presentation would be misleading. This file instead presents: (1) net revenue split into payment network and value-added services and solutions, (2) the gross payment network assessments the company bills customers alongside the rebates and incentives netted against them, because the gap between gross assessments and net payment network revenue is the single largest economic lever in the business, (3) the four reported operating expense lines and operating margin, (4) a balance sheet emphasising cash, total debt and the very small book equity that results from decades of buybacks, and (5) cash flow with capital expenditure defined as purchases of property and equipment plus capitalized software.
Reporting currency	USD
Converted to USD	no
Units	actual dollars (not millions), except per-share amounts, share counts, and ratios
Fiscal year end	December 31

Annual

	FY2025	FY2024	FY2023
Fiscal year	2025	2024	2023
Period end	2025-12-31	2024-12-31	2023-12-31
Period type	fiscal year	fiscal year	fiscal year
Source accession	0001141391-26-000013	0001141391-26-000013	0001141391-26-000013
Source form	10-K filed 2026-02-11	10-K filed 2026-02-11 (comparative prior-year columns)	10-K filed 2026-02-11 (comparative prior-year columns)
Audited	yes	yes	yes
Income statement
Net revenue	32,791,000,000	28,167,000,000	25,098,000,000
Net revenue payment network	19,476,000,000	17,335,000,000	15,824,000,000
Net revenue value added services and solutions	13,315,000,000	10,832,000,000	9,274,000,000
Net revenue americas	14,044,000,000	12,375,000,000	11,135,000,000
Net revenue asia pacific europe middle east africa	18,747,000,000	15,792,000,000	13,963,000,000
Gross payment network assessments	39,998,000,000	34,964,000,000	31,005,000,000
Assessments domestic	11,029,000,000	10,245,000,000	9,566,000,000
Assessments cross border	12,021,000,000	10,181,000,000	8,409,000,000
Assessments transaction processing	15,930,000,000	13,602,000,000	12,067,000,000
Assessments other network	1,018,000,000	936,000,000	963,000,000
Rebates and incentives payment network	20,522,000,000	17,629,000,000	15,181,000,000
Rebates and incentives source	disclosed in the filing	derived: gross payment network assessments less payment network net revenue	derived: gross payment network assessments less payment network net revenue
Rebates as pct of gross payment network assessments	0.5131	0.5042	0.4896
Operating expenses general and administrative	11,318,000,000	10,193,000,000	8,927,000,000
Operating expenses advertising and marketing	929,000,000	815,000,000	825,000,000
Operating expenses depreciation and amortization	1,143,000,000	897,000,000	799,000,000
Operating expenses provision for litigation	504,000,000	680,000,000	539,000,000
Total operating expenses	13,894,000,000	12,585,000,000	11,090,000,000
Operating income	18,897,000,000	15,582,000,000	14,008,000,000
Operating margin	0.5763	0.5532	0.5581
Investment income	325,000,000	327,000,000	274,000,000
Gains losses on equity investments net	-88,000,000	-29,000,000	-61,000,000
Interest expense	-722,000,000	-646,000,000	-575,000,000
Other income expense net	166,000,000	20,000,000	-7,000,000
Total other income expense	-319,000,000	-328,000,000	-369,000,000
Income before income taxes	18,578,000,000	15,254,000,000	13,639,000,000
Income tax expense	3,610,000,000	2,380,000,000	2,444,000,000
Effective tax rate	0.1943	0.156	0.1792
Net income	14,968,000,000	12,874,000,000	11,195,000,000
Net margin	0.4565	0.457	0.4461
Basic EPS	16.54	13.91	11.86
Basic weighted average shares	905,000,000	925,000,000	944,000,000
Diluted EPS	16.52	13.89	11.83
Diluted weighted average shares	906,000,000	927,000,000	946,000,000
Balance sheet
Cash and cash equivalents	10,566,000,000	8,442,000,000
Restricted cash and restricted cash equivalents	561,000,000	492,000,000
Restricted security deposits held for customers asset	2,121,000,000	1,874,000,000
Investments	332,000,000	330,000,000
Accounts receivable	4,609,000,000	3,773,000,000
Settlement assets	1,626,000,000	1,821,000,000
Prepaid expenses and other current assets	3,743,000,000	2,992,000,000
Total current assets	23,558,000,000	19,724,000,000
Property equipment and right of use assets net	2,303,000,000	2,138,000,000
Deferred income tax assets	1,567,000,000	1,614,000,000
Goodwill	9,560,000,000	9,193,000,000
Other intangible assets net	5,554,000,000	5,453,000,000
Other assets	11,615,000,000	9,959,000,000
Total assets	54,157,000,000	48,081,000,000
Accounts payable	999,000,000	929,000,000
Settlement obligations	2,409,000,000	2,316,000,000
Restricted security deposits held for customers liability	2,121,000,000	1,874,000,000
Accrued litigation	800,000,000	930,000,000
Accrued expenses	13,272,000,000	10,393,000,000
Short term debt	749,000,000	750,000,000
Other current liabilities	2,412,000,000	2,028,000,000
Total current liabilities	22,762,000,000	19,220,000,000
Long term debt	18,251,000,000	17,476,000,000
Deferred income tax liabilities	307,000,000	317,000,000
Other liabilities	5,091,000,000	4,553,000,000
Total liabilities	46,411,000,000	41,566,000,000
Total debt	19,000,000,000	18,226,000,000
Additional paid in capital	6,907,000,000	6,442,000,000
Class a treasury stock at cost	-83,224,000,000	-71,431,000,000
Retained earnings	85,035,000,000	72,907,000,000
Accumulated other comprehensive income loss	-981,000,000	-1,433,000,000
Stockholders equity attributable to mastercard	7,737,000,000	6,485,000,000
Non controlling interests	9,000,000	30,000,000
Total equity	7,746,000,000	6,515,000,000
Class a shares outstanding	887,000,000	907,000,000
Class b shares outstanding	7,000,000	7,000,000
Total shares outstanding	894,000,000	914,000,000
Cash flow
Net cash provided by operating activities	17,648,000,000	14,780,000,000	11,980,000,000
Amortization of customer incentives	2,098,000,000	1,830,000,000	1,622,000,000
Depreciation and amortization	1,143,000,000	897,000,000	799,000,000
Share based compensation	597,000,000	526,000,000	460,000,000
Purchases of property and equipment	489,000,000	474,000,000	371,000,000
Capitalized software	726,000,000	720,000,000	717,000,000
Capital expenditure	1,215,000,000	1,194,000,000	1,088,000,000
Free cash flow	16,433,000,000	13,586,000,000	10,892,000,000
Acquisition of businesses net of cash acquired	0	-2,511,000,000	0
Net cash used in investing activities	-1,362,000,000	-3,402,000,000	-1,351,000,000
Purchases of treasury stock	-11,727,000,000	-10,954,000,000	-9,032,000,000
Dividends paid	-2,756,000,000	-2,448,000,000	-2,158,000,000
Proceeds from debt net	1,242,000,000	3,960,000,000	1,554,000,000
Payment of debt	-750,000,000	-1,336,000,000	0
Net cash used in financing activities	-14,179,000,000	-10,836,000,000	-9,488,000,000
Cash dividends paid per share	3.04	2.64	2.28
Dividends declared per share	3.15	2.74	2.37
Total dividends declared	2,840,000,000	2,526,000,000	2,231,000,000
Balance sheet note			The FY2025 10-K presents balance sheets for December 31, 2025 and 2024 only, so no December 31, 2023 balance sheet is available from this filing.

Quarterly

	2026-03-31	2025-03-31
Fiscal quarter	Q1 2026	Q1 2025
Period start	2026-01-01	2025-01-01
Period end	2026-03-31	2025-03-31
Period type	three months	three months
Source accession	0001141391-26-000031	0001141391-26-000031
Source form	10-Q filed 2026-04-30	10-Q filed 2026-04-30 (comparative prior-year columns)
Audited	no	no
Income statement
Net revenue	8,398,000,000	7,250,000,000
Net revenue payment network	4,948,000,000	4,432,000,000
Net revenue value added services and solutions	3,450,000,000	2,818,000,000
Net revenue americas	3,564,000,000	3,151,000,000
Net revenue asia pacific europe middle east africa	4,834,000,000	4,099,000,000
Gross payment network assessments	10,587,000,000	9,011,000,000
Assessments domestic	2,896,000,000	2,658,000,000
Assessments cross border	3,190,000,000	2,595,000,000
Assessments transaction processing	4,224,000,000	3,527,000,000
Assessments other network	277,000,000	231,000,000
Rebates and incentives payment network	5,639,000,000	4,579,000,000
Rebates and incentives source	disclosed in the filing	derived: gross payment network assessments less payment network net revenue
Rebates as pct of gross payment network assessments	0.5326	0.5081
Operating expenses general and administrative	3,039,000,000	2,523,000,000
Operating expenses advertising and marketing	153,000,000	152,000,000
Operating expenses depreciation and amortization	299,000,000	275,000,000
Operating expenses provision for litigation	0	151,000,000
Total operating expenses	3,491,000,000	3,101,000,000
Operating income	4,907,000,000	4,149,000,000
Operating margin	0.5843	0.5723
Investment income	81,000,000	88,000,000
Gains losses on equity investments net	-66,000,000	-29,000,000
Interest expense	-185,000,000	-182,000,000
Other income expense net	75,000,000	5,000,000
Total other income expense	-95,000,000	-118,000,000
Income before income taxes	4,812,000,000	4,031,000,000
Income tax expense	930,000,000	751,000,000
Effective tax rate	0.1933	0.1863
Net income	3,882,000,000	3,280,000,000
Net margin	0.4623	0.4524
Basic EPS	4.35	3.6
Basic weighted average shares	891,000,000	912,000,000
Diluted EPS	4.35	3.59
Diluted weighted average shares	893,000,000	914,000,000
Balance sheet
Cash and cash equivalents	7,906,000,000
Restricted cash and restricted cash equivalents	551,000,000
Restricted security deposits held for customers asset	2,307,000,000
Investments	313,000,000
Accounts receivable	4,720,000,000
Settlement assets	2,062,000,000
Prepaid expenses and other current assets	4,639,000,000
Total current assets	22,498,000,000
Property equipment and right of use assets net	2,349,000,000
Deferred income tax assets	1,396,000,000
Goodwill	9,525,000,000
Other intangible assets net	5,495,000,000
Other assets	11,186,000,000
Total assets	52,449,000,000
Accounts payable	1,030,000,000
Settlement obligations	2,544,000,000
Restricted security deposits held for customers liability	2,307,000,000
Accrued litigation	339,000,000
Accrued expenses	12,327,000,000
Short term debt	1,748,000,000
Other current liabilities	2,639,000,000
Total current liabilities	22,934,000,000
Long term debt	17,212,000,000
Deferred income tax liabilities	331,000,000
Other liabilities	5,250,000,000
Total liabilities	45,727,000,000
Total debt	18,960,000,000
Additional paid in capital	6,843,000,000
Class a treasury stock at cost	-87,342,000,000
Retained earnings	88,146,000,000
Accumulated other comprehensive income loss	-928,000,000
Stockholders equity attributable to mastercard	6,719,000,000
Non controlling interests	3,000,000
Total equity	6,722,000,000
Class a shares outstanding	880,000,000
Class b shares outstanding	7,000,000
Total shares outstanding	887,000,000
Cash flow
Net cash provided by operating activities	2,999,000,000	2,380,000,000
Amortization of customer incentives	620,000,000	476,000,000
Depreciation and amortization	299,000,000	275,000,000
Share based compensation	136,000,000	129,000,000
Purchases of property and equipment	154,000,000	159,000,000
Capitalized software	181,000,000	198,000,000
Capital expenditure	335,000,000	357,000,000
Free cash flow	2,664,000,000	2,023,000,000
Net cash used in investing activities	-362,000,000	-340,000,000
Purchases of treasury stock	-4,035,000,000	-2,549,000,000
Dividends paid	-777,000,000	-694,000,000
Proceeds from debt net	0	1,242,000,000
Payment of debt	0	-750,000,000
Net cash used in financing activities	-5,005,000,000	-2,987,000,000
Dividends declared per share	0.87	0.76
Total dividends declared	771,000,000	692,000,000
Balance sheet note		The Q1 2026 10-Q presents balance sheets as of March 31, 2026 and December 31, 2025 only, so no March 31, 2025 balance sheet is available from this filing.

Trailing twelve months

	2026-03-31
Period start	2025-04-01
Period end	2026-03-31
Derivation	Fiscal year 2025 plus the three months ended March 31, 2026, less the three months ended March 31, 2025. Built from figures reported in the FY2025 10-K (accession 0001141391-26-000013) and the Q1 2026 10-Q (accession 0001141391-26-000031); no trailing-twelve-month figure appears in either filing itself.
Net revenue	33,939,000,000
Net revenue payment network	19,992,000,000
Net revenue value added services and solutions	13,947,000,000
Gross payment network assessments	41,574,000,000
Rebates and incentives payment network	21,582,000,000
Total operating expenses	14,284,000,000
Operating income	19,655,000,000
Operating margin	0.5791
Income before income taxes	19,359,000,000
Income tax expense	3,789,000,000
Effective tax rate	0.1957
Net income	15,570,000,000
Net margin	0.4588
Diluted EPS sum of reported periods	17.28
Net cash provided by operating activities	18,267,000,000
Capital expenditure	1,193,000,000
Free cash flow	17,074,000,000
Dividends paid	-2,839,000,000
Purchases of treasury stock	-13,213,000,000

Units notes seen

	Value
FY2025 10-K consolidated statements of operations	(in millions, except per share data)
FY2025 10-K consolidated statements of comprehensive income	(in millions)
FY2025 10-K consolidated balance sheets	(in millions, except per share data)
FY2025 10-K consolidated statements of cash flows	(in millions)
FY2025 10-K MD&A key metrics related to the payment network (assessments table)	($ in millions)
FY2025 10-K MD&A components of net revenue table	($ in millions)
FY2025 10-K MD&A components of operating expenses table	($ in millions)
FY2025 10-K MD&A annual dividends paid table	(in millions, except per share data)
FY2025 10-K Note 3 (Revenue) disaggregation table	(in millions)
FY2025 10-K Note 13 (Debt) schedule	(in millions)
FY2025 10-K Note 15 (Stockholders' Equity) dividends declared table	(in millions, except per share data)
Q1 2026 10-Q consolidated statements of operations	(in millions, except per share data)
Q1 2026 10-Q consolidated balance sheets	(in millions, except per share data)
Q1 2026 10-Q consolidated statements of cash flows	(in millions)
Q1 2026 10-Q Note 3 (Revenue) disaggregation table	(in millions)
Q1 2026 10-Q Note 8 (Debt) schedule	(in millions)
Q1 2026 10-Q Note 10 (Stockholders' Equity) dividends declared table	(in millions, except per share data)
Q1 2026 10-Q MD&A key metrics related to the payment network and components of net revenue	($ in millions)
Q1 2026 10-Q cover page share counts	stated as exact share numbers, not in thousands or millions

Adjustments

	Value
Splits applied	none
Splits note	No stock split falls within the periods reported here, so no per-share figure required split adjustment. Earnings per share and weighted-average share counts are exactly as the filings present them.
ADR ratio	n/a
ADR note	Mastercard Class A common stock trades directly on the NYSE; it is not an American Depositary Receipt, so no depositary ratio applies.
FX	None applied. Mastercard's reporting currency is the U.S. dollar, confirmed on the face of every statement used here. The company's primary functional currencies are the U.S. dollar, euro, British pound and Brazilian real, and results from non-dollar functional-currency entities are translated into dollars within the filings themselves; no further conversion was made.

Definitions

	Value
Net revenue	Revenue from contracts with customers, reported net of rebates and incentives provided to customers. This is the top line on Mastercard's income statement - there is no gross revenue line on the face of the statements.
Gross payment network assessments	The sum of the four payment network assessment metrics Mastercard discloses (domestic, cross-border, transaction processing and other network assessments). The company states that assessments represent agreed-upon standard pricing and do not represent net revenue.
Rebates and incentives payment network	Rebates and incentives netted against payment network revenue. For FY2025 and both first quarters this figure is disclosed verbatim in the filing; for FY2024 and FY2023 it is derived as gross payment network assessments less payment network net revenue (see notes).
Total debt	Total debt outstanding per the debt note, equal to short-term debt plus long-term debt on the balance sheet.
Capital expenditure	Purchases of property and equipment plus capitalized software, both from the investing section of the cash flow statement.
Free cash flow	Net cash provided by operating activities less capital expenditure as defined above.
Total equity	Total equity including non-controlling interests. Equity attributable to Mastercard Incorporated stockholders is reported separately.

Operating metrics

	Value
Note	Volume and transaction growth rates as disclosed in the filings. Mastercard reports these as growth percentages rather than absolute levels.
FY2025
Mastercard branded gdv growth USD	0.09
Mastercard branded gdv growth local currency	0.09
United states gdv growth USD	0.06
United states gdv growth local currency	0.06
Worldwide less united states gdv growth USD	0.1
Worldwide less united states gdv growth local currency	0.1
Cross border volume growth USD	0.18
Cross border volume growth local currency	0.15
Switched transactions growth	0.1
FY2024
Mastercard branded gdv growth USD	0.08
Mastercard branded gdv growth local currency	0.11
United states gdv growth USD	0.07
United states gdv growth local currency	0.07
Worldwide less united states gdv growth USD	0.09
Worldwide less united states gdv growth local currency	0.12
Cross border volume growth USD	0.17
Cross border volume growth local currency	0.18
Switched transactions growth	0.11
Q1 2026
Gdv growth USD	0.12
Gdv growth local currency	0.07

	Value
Shares outstanding 2026 04 27 class a	877,036,230
Shares outstanding 2026 04 27 class b	6,547,625
Shares outstanding 2026 04 27 total	883,583,855
Source	cover page of the Q1 2026 10-Q (accession 0001141391-26-000031), stated as exact share counts

Capital returns

	Value
Remaining buyback authorization 2026 03 31	13,400,000,000
Buyback programs authorized	In December 2025 and December 2024 the Board approved programs authorizing repurchases of Class A common stock of up to $14.0 billion and $12.0 billion respectively; the 2025 program becomes effective after the 2024 program is completed.
Dividend declared 2026 02 10 per share	0.87
Source accession	0001141391-26-000031 and 0001141391-26-000013

Notes

Mastercard's income statement has a single top line, Net Revenue, which is already net of rebates and incentives paid to customers. There is no gross revenue line on the face of the statements, so this file adds the gross payment network assessments Mastercard discloses in management's discussion (domestic, cross-border, transaction processing and other network assessments) to make the scale of customer incentives visible. The company explicitly cautions that assessments represent agreed-upon standard pricing and do not represent net revenue.
Rebates and incentives netted against payment network revenue were disclosed directly for FY2025 ($20,522 million, per the FY2025 10-K, accession 0001141391-26-000013) and for the three months ended March 31, 2026 ($5,639 million, per the Q1 2026 10-Q, accession 0001141391-26-000031). For FY2024, FY2023 and the three months ended March 31, 2025 the figure is not stated, so it was derived as gross payment network assessments less payment network net revenue. That derivation reproduces both disclosed figures exactly (FY2025: $39,998 million of assessments less $19,476 million of net payment network revenue equals $20,522 million; Q1 2026: $10,587 million less $4,948 million equals $5,639 million), and the derived FY2024 and Q1 2025 values reproduce the growth rates the filings state (16% and 23% respectively). The derived figures are labelled as derived in each period.
Rebates and incentives are attributed by the company to the revenue category they pertain to, so value-added services and solutions revenue is also reported net of some incentives. Only the payment network portion is quantified in the filings, so no gross figure is presented for value-added services and solutions.
Capital expenditure is defined here as purchases of property and equipment plus capitalized software, both taken from the investing section of the cash flow statement. Capitalized software is the larger of the two in every period shown, which matters for a business whose principal asset is a processing network rather than physical plant.
Total equity is reported both including and excluding non-controlling interests. Mastercard's book equity is very small relative to its earnings power ($7.7 billion at December 31, 2025 against $15.0 billion of net income) because cumulative treasury stock stands at $83.2 billion; conventional return-on-equity measures are therefore not meaningful for this company.
Total debt is taken from the debt note, which reconciles the face amount of senior notes to the balance sheet: $19,000 million outstanding at December 31, 2025 and $18,960 million at March 31, 2026. Short-term debt rose from $749 million to $1,748 million between those dates because the 2020 USD Notes due March 2027 joined the 2016 USD Notes due November 2026 in the current-maturity classification; this is a reclassification, not new borrowing, and no debt was issued or repaid in the quarter.
The FY2025 10-K reports no balance sheet as of December 31, 2023, and the Q1 2026 10-Q reports no balance sheet as of March 31, 2025. Those two balance sheets are recorded as unavailable rather than estimated.
Dividends are reported on two bases because they differ: cash dividends paid per share (from the cash flow discussion) and dividends declared per share (from the stockholders' equity note). For FY2025 these were $3.04 and $3.15 respectively, the gap reflecting the December 2025 declaration paid in February 2026.
The provision for litigation was $504 million in FY2025, $680 million in FY2024 and $539 million in FY2023; it was $nil in the three months ended March 31, 2026 versus $151 million in the comparable 2025 quarter. Mastercard treats this line as a special item in its own non-GAAP presentation, so a reader comparing operating margins across periods should be aware it is lumpy.
The SEC's structured XBRL company facts were checked against the filings for net revenue, operating income, net income, diluted earnings per share, diluted weighted-average shares, total assets, stockholders' equity, cash and cash equivalents, long-term debt, operating cash flow and purchases of property and equipment across all periods reported here. They agreed with the filings in every case, so no override was required. One presentational difference is worth flagging for readers: the structured data's stockholders' equity concept carries the amount attributable to Mastercard Incorporated ($7,737 million at December 31, 2025) rather than total equity including non-controlling interests ($7,746 million); both are reported separately in this file.
Capitalized software is not carried under the common structured-data concept for software development payments, so the capital expenditure figures here were read directly from the cash flow statements in both filings.
The most recent event filing on record is dated 2026-06-17 and contains no financial results, and no earnings release for a quarter after March 31, 2026 has been filed. The Q1 2026 10-Q is therefore the latest financial reporting available, and every quarterly figure here comes from that 10-Q rather than from a press release.
The trailing-twelve-month block is a calculation, not a reported figure. It is arithmetic on the reported fiscal-year and quarterly periods and is labelled as such; the trailing diluted earnings per share is the sum of the reported periods' per-share amounts rather than a recomputed figure, so it may differ slightly from net income divided by a trailing share count.
Multi-year trend the filings show: net revenue grew from $25,098 million in 2023 to $28,167 million in 2024 to $32,791 million in 2025, with value-added services and solutions growing faster (23% in 2025) than the payment network (12%) and rising from 37% to 41% of net revenue over the three years. Operating margin moved from 55.8% to 55.3% to 57.6%. Net income grew from $11,195 million to $12,874 million to $14,968 million, and diluted earnings per share grew faster still, from $11.83 to $13.89 to $16.52, because diluted shares fell from 946 million to 906 million. Operating cash flow grew from $11,980 million to $17,648 million while capital expenditure stayed near $1.1-1.2 billion, so free cash flow rose from $10,892 million to $16,433 million. Essentially all of it was returned: $11,727 million of buybacks and $2,756 million of dividends in 2025 alone. The first quarter of 2026 continued the pattern with net revenue up 16% and net income up 18% year over year.

Uncertainties

Rebates and incentives for FY2024, FY2023 and the three months ended March 31, 2025 are derived, not disclosed. The derivation method reproduces both disclosed figures exactly and matches the growth rates stated in the filings, but these three values are arithmetic inferences from the assessments tables rather than figures printed in a filing.
The rebates figure applies only to the payment network category. Value-added services and solutions revenue is also stated net of incentives attributed to it, and that amount is nowhere quantified, so the total company-wide rebates and incentives burden is larger than the payment network figures shown here by an undisclosed amount.
Gross payment network assessments are the sum of four separately disclosed assessment metrics. Mastercard presents them as key metrics and states they do not represent net revenue; while the four sum exactly to net payment network revenue plus disclosed rebates in both periods where rebates are disclosed, the company does not itself present the sum as a gross revenue line, and it should not be read as a GAAP revenue figure.
FY2023 has no balance sheet in the latest 10-K, so no December 31, 2023 balance sheet data, total debt or period-end share count is reported. The same applies to March 31, 2025 in the 10-Q. No older filings were used to fill these in.
Operating metrics (gross dollar volume, cross-border volume and switched transactions) are disclosed only as growth percentages, not as absolute dollar or transaction counts, so no level figures are available for those drivers.
The FY2025 10-K states total debt outstanding at December 31, 2025 was '$19.0 billion' in management's discussion and $19,000 million in the debt note; these agree, but the balance-sheet components (short-term debt $749 million plus long-term debt $18,251 million) sum to exactly $19,000 million only because the note nets unamortized discount, issuance costs and hedge accounting adjustments against a $19,149 million face amount. The face amount of the notes, not reported as a separate line here, is therefore higher than the carrying value shown.
As of April 27, 2026 Mastercard had $2.5 billion of commercial paper outstanding, issued during April 2026. That is after the March 31, 2026 balance sheet date and is not reflected in any debt figure in this file.
The three-month 2026 income tax expense reflects a 19.3% effective rate versus 18.6% a year earlier and 19.4% for full-year 2025; quarterly effective rates at Mastercard move with discrete items and should not be annualised.

Company details

	Value
Name	Mastercard Inc
Ticker	MA
CIK	0001141391
Exchange	NYSE
State	New York
Incorporation	Delaware
SIC	7389
Office	Trade & Services
Industry	Services-Business Services, NEC

Next filing

	Value
Predicted date	2026-07-30
Predicted type	10-Q

Fiscal period

	FY2026
Fiscal year	2026
Fiscal period	Q1
Tag	FY26Q1
Period end	2026-03-31
Form	10-Q
Accession	0001141391-26-000031
Fiscal year end	1231
Source	facts

Built from Mastercard Incorporated's SEC filings by Ticker Scout. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer. Also for this company: company index, financials.json, index.json.