Mastercard Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	32,791	28,167	25,098	22,237	18,884
Revenue Growth (YoY)	16.42%	12.23%	12.87%	17.76%	23.42%
Gross Profit	32,791	28,167	25,098	22,237	18,884
Selling, General & Admin	12,247	10,818	9,752	8,800	7,890
Operating Expenses	13,390	11,715	10,551	9,550	8,616
Operating Income	19,401	16,452	14,547	12,687	10,268
Interest Expense	-722	-646	-575	-471	-431
Interest & Investment Income	325	327	274	61	11
Other Non Operating Income (Expenses)	166	20	-7	23	-10
EBT Excluding Unusual Items	19,170	16,153	14,239	12,300	9,838
Merger & Restructuring Charges	-	-190	-	-	-
Gain (Loss) on Sale of Investments	-88	-29	-61	-145	645
Legal Settlements	-504	-680	-539	-356	-94
Other Unusual Items	-	-	-	-67	-82
Pretax Income	18,578	15,254	13,639	11,732	10,307
Income Tax Expense	3,610	2,380	2,444	1,802	1,620
Net Income	14,968	12,874	11,195	9,930	8,687
Net Income to Common	14,968	12,874	11,195	9,930	8,687
Net Income Growth	16.27%	15.00%	12.74%	14.31%	35.50%
Shares Outstanding (Basic)	905	925	944	968	988
Shares Outstanding (Diluted)	906	927	946	971	992
Shares Change (YoY)	-2.27%	-2.01%	-2.57%	-2.12%	-1.39%
EPS (Basic)	16.54	13.92	11.86	10.26	8.79
EPS (Diluted)	16.52	13.89	11.83	10.22	8.76
EPS Growth	18.93%	17.41%	15.75%	16.67%	37.52%
Free Cash Flow	17,159	14,306	11,609	10,753	9,056
Free Cash Flow Per Share	18.94	15.43	12.27	11.07	9.13
Dividend Per Share	3.150	2.740	2.370	2.040	1.810
Dividend Growth	14.96%	15.61%	16.18%	12.71%	10.37%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	59.17%	58.41%	57.96%	57.05%	54.37%
Profit Margin	45.65%	45.71%	44.60%	44.66%	46.00%
Free Cash Flow Margin	52.33%	50.79%	46.26%	48.36%	47.96%
EBITDA	20,544	17,349	15,346	13,437	10,994
EBITDA Margin	62.65%	61.59%	61.14%	60.43%	58.22%
D&A For EBITDA	1,143	897	799	750	726
EBIT	19,401	16,452	14,547	12,687	10,268
EBIT Margin	59.17%	58.41%	57.96%	57.05%	54.37%
Effective Tax Rate	19.43%	15.60%	17.92%	15.36%	15.72%
Advertising Expenses	929	815	825	789	895

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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