Mastercard (MA): analysis in plain words
Is Mastercard cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Mastercard (MA) is listed on the NYSE and we classify it in financial services and payments. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Mastercard according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Mastercard (MA) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $672.68 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 35.2x | Price over earnings per share |
| Revenue growth | +14.0% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 46.7% | Profit for every 100 of sales |
| Net debt / EBITDA | 0.6x | Years of operating profit to repay debt |
| Dividend yield | 0.54% | Annual dividend over price |
| Market cap | $586.0 billion | What the stock market values it at |
The Mastercard figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MA figure that is not available shows as N/A: we do not estimate it.
How Mastercard makes money
Mastercard runs a payments network linking card-issuing banks, merchants and consumers. It does not lend money; it earns fees on payment volume, processing and cross-border transactions. It reports revenue from its Payment Network, the larger stream, and from Value-Added Services and Solutions such as cybersecurity, data analytics and open banking.
Over the last 12 months, Mastercard brought in revenue of $36.3 billion. For every 100 it sells, Mastercard keeps 100.0 after the direct cost of what it sells (gross margin) and 60.5 after all operating costs (operating margin). With 39,800 full-time employees, that is about $912,000 of revenue per employee.
Mastercard against its sector
To know whether a Mastercard figure is high or low you have to put it next to similar companies. This table compares Mastercard with the median of the 21 financial services and payments companies Fintols covers, with data as of November 4, 2026.
| Figure | Mastercard | financial services and payments median |
|---|---|---|
| P/E | 35.2x | 27.9x (21) |
| Revenue growth | +14.0% | +12.4% (24) |
| Net margin | 46.7% | 25.8% (24) |
| Dividend yield | 0.54% | 0.81% (24) |
| Net debt / EBITDA | 0.6x | 0.6x (13) |
In short, against the typical financial services and payments company, Mastercard trades on a higher P/E, earns a wider margin and pays a lower dividend yield. By size, Mastercard ranks number 2 of 22 financial services and payments companies quoted in USD on Fintols.
The bull case for Mastercard
What works in favour of Mastercard, according to its figures as of November 4, 2026:
- Mastercard keeps 46.7 of every 100 it sells as net profit, against 25.8 for the median financial services and payments company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Mastercard earns 231.4% a year on its shareholders' money (return on equity).
- Analysts expect Mastercard earnings to rise: its P/E on the next 12 months of estimated earnings is 29.1x, below the current 35.2x.
The main risk for Mastercard
The Mastercard figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a drop in the payment, investment or trading volumes it earns fees on, plus regulation.
Frequently asked questions about Mastercard
Is it a good time to buy Mastercard stock?
Fintols does not tell you whether to buy or sell Mastercard, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Mastercard stock trades at $672.68, 0% below its 52-week high ($673.50) and 45% above its low ($464.52). Its P/E is 35.2x against a financial services and payments median of 27.9x, and 29.1x on the earnings analysts expect over the next 12 months. With Mastercard, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Mastercard pay a dividend?
Yes. As of November 4, 2026, Mastercard pays $3.48 per share a year, which at today's price is a yield of 0.54%. It uses 18% of its profit to pay it, which leaves room to keep paying it if profit dips. The financial services and payments median on Fintols is 0.81%.
Is Mastercard stock expensive?
It depends on what you compare it with. On P/E, Mastercard trades at 35.2x its last 12 months of earnings: more expensive than the financial services and payments median (27.9x). Including its debt, Mastercard is valued at 25.1x its EBITDA (EV/EBITDA). A high P/E alone does not make Mastercard expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Mastercard's competitors?
On Fintols we compare Mastercard with Visa, American Express and BlackRock, which are also in financial services and payments. As of November 4, 2026, Visa is worth $816.0 billion and trades on a P/E of 35.4; American Express is worth $223.0 billion and trades on a P/E of 18.7; BlackRock is worth $198.9 billion and trades on a P/E of 27.9. Each has a side-by-side comparison with Mastercard below.
Mastercard competitors
- Visa (V) analysis · Mastercard vs Visa comparison
- American Express (AXP) analysis · Mastercard vs American Express comparison
- BlackRock (BLK) analysis · Mastercard vs BlackRock comparison
To understand Mastercard better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Mastercard: financial services and payments stocks, S&P 500 companies and S&P 100 companies. Open the full MA analysis with its valuation and scenarios. Educational content about Mastercard, not investment advice.