Aureus
AExcellent

Mastercard Incorporated(MA)

A

Financial data as of Dec 31, 2024Stable · Financials

FCF Margin48.2%Free Cash Flow / Revenue
Cash Conversion114.8%Operating CF / Net Income
Free Cash Flow$13.6B
Revenue$28.2B
Net Cash-$9.8BNet debt position
Debt / FCF1.3xManageable debt load
Current Ratio1.03Adequate short-term liquidity
YoY FCF Growth+9.0%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 (48.2%, 1.3x)
→
+1Very low debt-to-FCF ratio (1.3x)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (48.2%)
  • Excellent cash conversion (115%)
  • Very low debt relative to cash flow (1.3x)
  • Highly consistent quarterly FCF

Concerns

  • Net debt position ($9.8B)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin48.2%
Net Margin45.7%
Operating CF Margin52.5%
CapEx Ratio4.2%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$9.8BNet debt position
Debt / FCF1.3xManageable debt load
Current Ratio1.03Adequate liquidity
Debt / Equity2.81High leverage

Quarterly FCF Trend

+9.0% YoYStable (+9.0%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameMastercard Incorporated
SectorFinancials
Free Cash Flow$13.6B
Revenue$28.2B
Net Income$12.9B
Operating Cash Flow$14.8B
Capital Expenditure$1.2B
FCF Margin48.2%
Cash Conversion Rate114.8%
Net Margin45.7%
Total Debt$18.2B
Total Cash$8.4B
Net Cash-$9.8B
Current Ratio1.03
Debt / Equity2.81
Debt / FCF1.3x
YoY FCF Growth+9.0%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2024
GradeA
Data SourceYahoo Finance

Related Research

All research →
Sector Report4 min read

Financials: Twelve A-Grades Propped Up by Payments

The sector looks healthy on paper. But strip out the payment networks and exchanges, and the numbers tell a different story.

Feb 13, 2026
CMEVMACOF+12