Mastercard (MA) Net Margin (2009 - 2026)
Mastercard posted quarterly Net Margin of 46.23% for Q1 2026, up 98.0% year-on-year from 23.35% in Q1 2025, and little changed on a QoQ basis from 46.1% in Q4 2025.
Mastercard (MA) Net Margin (2009 - 2026) Analysis & Trends
Mastercard (MA) has 18 years of Net Margin data on file, last reported at 46.23% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin rose 98.0% year-over-year to 46.23%; the trailing twelve-month figure through Mar 2026 stood at 45.88% (up 92.0% YoY), and the FY2025 full-year result was 45.65%, down 6.0% from the prior year.
- Net Margin for Q1 2026 stood at 46.23%, roughly flat from 46.1% in the prior quarter.
- Across five years, Net Margin topped out at 49.6% in Q1 2022 and bottomed at 40.1% in Q1 2023.
- The 5-year median for Net Margin is 45.24% (2025), against an average of 44.67%.
- The widest annual swing landed in 2022, when Net Margin surged 797 bps; it then slumped 950 bps in 2023.
- A 5-year view of Net Margin shows it stood at 42.41% in 2022, then slipped by 1 bps to 41.92% in 2023, then grew by 6 bps to 44.63% in 2024, then rose by 3 bps to 46.1% in 2025, then advanced by 0 bps to 46.23% in 2026.
- The last three Net Margin figures came in at 46.23% (Q1 2026), 46.1% (Q4 2025), and 45.65% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 539.53 Bn | 527.13 Bn | - | 53.62% |
| 2 | Mastercard | 441.81 Bn | 431.60 Bn | - | 46.23% |
| 3 | American Express | 215.01 Bn | 160.96 Bn | 17.43 Bn | 15.71% |
| 4 | Capital One Financial | 114.99 Bn | 38.50 Bn | - | 13.66% |
| 5 | PayPal Holdings | 41.29 Bn | 31.95 Bn | 7.84 Bn | 13.32% |
| 6 | Affirm Holdings | 24.62 Bn | 22.89 Bn | 261.64 Mn | 30.76% |
| 7 | Synchrony Financial | 24.22 Bn | 3.66 Bn | - | 16.44% |
| 8 | SoFi Technologies | 23.71 Bn | 20.31 Bn | 929.25 Mn | 15.15% |
| 9 | Ally Financial | 13.13 Bn | 12.69 Bn | 1.98 Bn | 13.84% |
| 10 | Credit Acceptance | 6.46 Bn | 6.44 Bn | 562.70 Mn | 21.04% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 46.23% |
| Dec 31, 2025 | 46.10% |
| Sep 30, 2025 | 45.65% |
| Jun 30, 2025 | 45.51% |
| Mar 31, 2025 | 45.24% |
| Dec 31, 2024 | 44.63% |
| Sep 30, 2024 | 43.81% |
| Jun 30, 2024 | 46.24% |
| Mar 31, 2024 | 46.75% |
| Dec 31, 2023 | 41.92% |
| Sep 30, 2023 | 48.20% |
| Jun 30, 2023 | 44.54% |
| Mar 31, 2023 | 40.10% |
| Dec 31, 2022 | 42.41% |
| Sep 30, 2022 | 42.34% |
| Jun 30, 2022 | 40.20% |
| Mar 31, 2022 | 49.60% |
| Dec 31, 2021 | 44.25% |
| Sep 30, 2021 | 47.02% |
| Jun 30, 2021 | 43.46% |