| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 22 | 31.8x | 18.2x | Bottom tier | |
Growth | 75 | 16.0% | 7.1% | Top tier | |
Quality | 100 | — | — | Top tier | |
Safety | 15 | — | — | Bottom tier | |
Capital Return | 50 | 0.58% | 2.10% | Around median | |
Momentum | 69 | -3.3% | 2.9% | Top tier | |
Sentiment | 66 | 25 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Mastercard operates a global payments network connecting card issuers, merchants, and service providers, and generates revenue from processing domestic and cross-border transactions and from value-added services including cybersecurity, fraud prevention, identity verification, data, marketing, and consulting. Its switched penetration rate reached 72%, and the number of Mastercard and Maestro cards issued worldwide reached 3.7 billion, while about 60% of net revenue from value-added services is linked to the network, allowing the company to cross-sell additional services based on transaction data and its customer relationships.
In Q2 of fiscal year 2026, Mastercard reported revenue of $9.3 billion, net income of $4.4 billion, and EDGAR EPS of $4.97. Adjusted EPS was $5.04 versus expectations of $4.77, while net revenue increased 12% and adjusted net income increased 16% year over year and on a constant-currency basis, and the reported net margin was 46.3%. Growth came from both sides of the business; net payment network revenue increased 8%, compared with 18% growth in net revenue from value-added services and solutions.
Worldwide gross dollar volume increased 8% in Q2 of fiscal year 2026, cross-border volume increased 12%, and switched transactions grew 9%. Contactless payments reached 80% of switched in-person purchase transactions, up 5 percentage points annually, while tokenization penetration exceeded 40% of all switched transactions. The company also repurchased $4.9 billion of shares during the quarter, followed by about an additional $700 million through July 27, 2026.
The analyst consensus is Buy, with an average price target of $667.56 and a wide range of $597 to $740; the average is above the 52-week range high of $601.62, while the low is $464.52. In contrast, the July 31, 2026 valuation showed a price-to-earnings ratio of 31.4 times and an enterprise value-to-EBITDA multiple of 23.8 times, reflecting a quality premium that requires continued double-digit growth. Goldman Sachs raised its target to $701 from $674 while maintaining its Buy rating following the Q2 fiscal year 2026 results, but the wide target range underscores differing analyst estimates of how much growth justifies these multiples.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue was $9.3 billion, net income was $4.4 billion, and EDGAR EPS was approximately $4.97. Adjusted EPS was $5.04 versus expectations of $4.77, while net revenue increased 12% year over year and on a constant-currency basis. Net payment network revenue also grew 8%, value-added services and solutions grew 18%, and the reported net margin was 46.3%.
Cross-border transaction volume grew 12% in Q2 of fiscal year 2026, while related assessments increased 20% due to volume, pricing, and mix. Outbound travel from affected Gulf countries improved as flight capacity increased, while dollar availability in Venezuela supported non-travel card-not-present spending. This latter type of cross-border spending recorded growth of 20%, with Mastercard benefiting from its leading position in Venezuela's primarily debit-card-based market.
The company's portfolio combines card fraud prevention, identity verification, and threat intelligence, and was strengthened by Recorded Future's capabilities and the launch of Mastercard Threat Intelligence. During its first three quarters of operation, the product identified more than 7 million card-testing transactions in 192 countries and helped prevent an estimated $172 million in fraud. The company also launched Mastercard Merchant Trust Services to use AI-powered capabilities to detect fraudulent merchants before they generate disputes and losses.
Automated analysis for informational purposes only — not investment advice.
Management said on July 30, 2026, that it expected to close the $1.8 billion BVNK acquisition during Q3 of fiscal year 2026. BVNK is intended to enable customers to send, receive, store, and convert assets through an interoperability layer, while BNB Chain joined the cryptocurrency partner program on August 26, 2026. These initiatives complement Mastercard Agent Pay and Agent Pay for Machines, at a time when the volume of co-branded cards with cryptocurrency companies has more than tripled over two years.
The July 30, 2026 call stated that Sachin Mehra was delivering his final earnings call as Chief Financial Officer, as he transitioned to the role of Chief Business Officer. The company announced that Ling Hai, who had been President of Asia Pacific, Europe, the Middle East, and Africa, would become Chief Financial Officer effective August 3, 2026. Michael Miebach remained Chief Executive Officer and led the presentation of the payments, services, and digital assets strategy during the Q2 fiscal year 2026 call.
