Mastercard Incorporated (MA)

Mastercard Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	14,250	12,874	11,195	9,930	8,687	6,411
Depreciation & Amortization	1,222	1,042	940	887	848	703
Other Amortization	2,028	1,830	1,622	1,586	1,371	1,072
Loss (Gain) From Sale of Investments	-56	29	61	145	-645	-30
Stock-Based Compensation	593	526	460	295	273	254
Other Operating Activities	-161	-481	-355	-744	-155	-36
Change in Accounts Receivable	-177	186	-546	-481	-397	1,202
Change in Accounts Payable	-12	75	-99	190	100	26
Change in Income Taxes	-328	-328	-300	-109	-139	-39
Change in Other Net Operating Assets	121	-973	-998	-504	-480	-2,339
Operating Cash Flow	17,480	14,780	11,980	11,195	9,463	7,224
Operating Cash Flow Growth	24.18%	23.37%	7.01%	18.30%	30.99%	-11.72%
Capital Expenditures	-472	-474	-371	-442	-407	-339
Cash Acquisitions	-2,511	-2,511	-	-313	-4,436	-989
Sale (Purchase) of Intangibles	-703	-720	-717	-655	-407	-369
Investment in Securities	88	306	-257	-57	-55	-10
Other Investing Activities	-21	-3	-6	-3	33	-172
Investing Cash Flow	-3,619	-3,402	-1,351	-1,470	-5,272	-1,879
Long-Term Debt Issued	-	3,960	1,554	1,123	2,024	3,959
Long-Term Debt Repaid	-	-1,336	-	-724	-650	-
Net Debt Issued (Repaid)	492	2,624	1,554	399	1,374	3,959
Issuance of Common Stock	200	224	237	90	61	97
Repurchase of Common Stock	-11,925	-11,213	-9,121	-8,894	-6,037	-4,623
Common Dividends Paid	-2,678	-2,448	-2,158	-1,903	-1,741	-1,605
Other Financing Activities	-123	-23	-	-20	-212	20
Financing Cash Flow	-14,034	-10,836	-9,488	-10,328	-6,555	-2,152
Foreign Exchange Rate Adjustments	51	-199	128	-103	-153	257
Net Cash Flow	-122	343	1,269	-706	-2,517	3,450
Free Cash Flow	17,008	14,306	11,609	10,753	9,056	6,885
Free Cash Flow Growth	24.88%	23.23%	7.96%	18.74%	31.53%	-11.29%
Free Cash Flow Margin	54.04%	50.79%	46.26%	48.36%	47.96%	45.00%
Free Cash Flow Per Share	18.66	15.43	12.27	11.07	9.13	6.84
Cash Interest Paid	571	571	477	414	399	311
Cash Income Tax Paid	3,252	3,252	2,746	2,506	1,820	1,349
Levered Free Cash Flow	16,259	14,464	11,112	10,677	8,458	6,169
Unlevered Free Cash Flow	16,725	14,868	11,471	10,971	8,728	6,406
Change in Working Capital	-396	-1,040	-1,943	-904	-916	-1,150

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q