Aureus
AExcellent

Mastercard Incorporated(MA)

A

Financial data as of Dec 31, 2025Stable · Financials

FCF Margin50.1%Free Cash Flow / Revenue
Cash Conversion117.9%Operating CF / Net Income
Free Cash Flow$16.4B
Revenue$32.8B
Net Cash-$8.4BNet debt position
Debt / FCF1.2xManageable debt load
Current Ratio1.03Adequate short-term liquidity
YoY FCF Growth+2.8%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (50.1%, 1.2x)
→
+1Very low debt-to-FCF ratio (1.2x)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (50.1%)
  • Excellent cash conversion (118%)
  • Very low debt relative to cash flow (1.2x)
  • Highly consistent quarterly FCF

Concerns

  • Net debt position ($8.4B) — 1.2x FCF, manageable

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin50.1%
Net Margin45.6%
Operating CF Margin53.8%
CapEx Ratio3.7%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$8.4BNet debt position
Debt / FCF1.2xManageable debt load
Current Ratio1.03Adequate liquidity
Debt / Equity2.46High leverage

Quarterly FCF Trend

+2.8% YoYStable (+2.8%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameMastercard Incorporated
SectorFinancials
Free Cash Flow$16.4B
Revenue$32.8B
Net Income$15.0B
Operating Cash Flow$17.6B
Capital Expenditure$1.2B
FCF Margin50.1%
Cash Conversion Rate117.9%
Net Margin45.6%
Total Debt$19.0B
Total Cash$10.6B
Net Cash-$8.4B
Current Ratio1.03
Debt / Equity2.46
Debt / FCF1.2x
YoY FCF Growth+2.8%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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