Mastercard Incorporated - Ordinary Shares - Class A
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+ FollowMarket Cap$588.51B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 financial momentum (good):
- Net revenue +14% YoY and net income +18% YoY (non-GAAP, currency-neutral); EPS +21% YoY.
- Operating income +15% YoY; Q3 EPS was $5.31, including $0.16 from share repurchases.
- Drivers: Payment network net revenue +11% and Value-added services +19% (reflecting strong underlying demand; BVNK contributions included).
Volume/engagement trends remain solid (good, with detail):
- Worldwide GDV +7% YoY (U.S. +6%; credit +10%, debit +1% including Capital One debit migration impact; ex-U.S. +8% with debit +10%).
- Cross-border volumes +11% YoY; cross-border assessments +16% (pricing/mix positive).
- Switched transactions +9% YoY and contactless penetration 81% of in-person switched transactions (+5 PPT YoY).
- Card growth +5%; 3.8B Mastercard/Maestro cards issued globally.
Outlook for remainder of 2026 (forecast; mostly positive):
- Full-year 2026 net revenue growth: high end of low double-digit range (currency-neutral; excluding inorganic activity).
- Operating expense growth: low double digits range (currency-neutral; ex-inorganic).
- FX: FX expected to be tailwind ~+1 PPT full-year; Q4 ~+0.5 PPT tailwind.
- Q4 net revenue growth expected high end of low double digits; expenses high end of low double digits vs. a year ago.
- Non-GAAP tax rate ~20–21% (full year and Q4).
- Notable: some revenue strength also reflects timing benefits (services projects / deal timing from Q4 into Q3), implying some offset in Q4.
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$568.75
15.4% downside
Current Fair Value
15.4% downsideOvervalued by 15.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $588.51 Billion |
|---|---|
| Enterprise Value | $601.86 Billion |
| Annual dividend | $3.48 |
| Dividend yield | 0.55% |
| Earnings per Share | $16.55 |
| Beta | 0.74 |
| Outstanding Shares | 875,000,000 |
Return
| Return on Equity | 302.23% |
|---|---|
| Return on Assets | 29.39% |
| Return on Invested Capital | 65.64% |
Valuation & Multiples
| P/E Ratio | 33.32 |
|---|---|
| PEG | 186.64 |
| Price to Sales | 16.4 |
| Price to Book Ratio | 112.1 |
| Enterprise Value to Revenue | 16.59 |
| Enterprise Value to EBIT | 28.05 |
| Enterprise Value to Net Income | 35 |
| Total Debt to Enterprise | 0.04 |
| Debt to Equity | 4.39 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$5.17
Consensus analyst estimateRevenue Estimate
$9.66 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 28, 2027
EPS Estimate
$5.11
Consensus analyst estimateRevenue Estimate
$9.93 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.63, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.6323▼ 19.43% |
|---|---|
| Total Calls | 4,112▼ 99.93% |
| Total Puts | 2,600▼ 99.95% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 11.60%▼ 75.76% |
|---|---|
| Total Invested | $56.39B▼ 85.89% |
| Investors Holding | 1,584▼ 2157.00% |
About Mastercard Incorporated
18,600 employees
CEO: David Carlucci
Mastercard is a global technology company in the payments industry. Its mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using sec...