Mastercard (MA) Operating Margin (2009 - 2026)
Mastercard (MA) posted Operating Margin of 58.43% for Q1 2026, up 4.79% quarter-over-quarter from 55.76% in Q4 2025, and up 120.0% year-on-year from 26.56% in Q1 2025.
Mastercard (MA) Operating Margin (2009 - 2026) Analysis & Trends
Mastercard (MA) has reported Operating Margin for 18 consecutive years, with 58.43% the latest figure, recorded in Q1 2026.
- Operating Margin for Q1 2026 came in at 58.43%, up 120.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 57.91% (up 243.0% YoY), and the FY2025 annual result was 57.63%, up 231.0% from the prior year.
- Operating Margin was 58.43% for Q1 2026 at Mastercard, up from 55.76% in the prior quarter.
- Over five years, Operating Margin peaked at 58.84% in Q3 2023 and troughed at 51.5% in Q4 2023.
- Average Operating Margin over 5 years is 56.16%, with a median of 56.77% recorded in 2024.
- Year-over-year, Operating Margin soared 477 bps in 2023 and tumbled 450 bps in 2024.
- Over 5 years, Operating Margin stood at 54.74% in 2022, then decreased by 6 bps to 51.5% in 2023, then gained by 2 bps to 52.58% in 2024, then rose by 6 bps to 55.76% in 2025, then gained by 5 bps to 58.43% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 58.43% in Q1 2026, 55.76% in Q4 2025, and 58.84% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 587.74 Bn | 575.34 Bn | - | 64.42% |
| 2 | Mastercard | 465.55 Bn | 455.34 Bn | - | 58.43% |
| 3 | American Express | 238.39 Bn | 184.35 Bn | 17.43 Bn | 18.77% |
| 4 | PayPal Holdings | 40.24 Bn | 30.89 Bn | 7.84 Bn | 17.81% |
| 5 | Affirm Holdings | 28.27 Bn | 26.55 Bn | 261.64 Mn | 26.44% |
| 6 | SoFi Technologies | 23.54 Bn | 20.13 Bn | 929.25 Mn | 3.39% |
| 7 | Ally Financial | 14.34 Bn | 13.89 Bn | 1.98 Bn | 35.49% |
| 8 | Credit Acceptance | 7.51 Bn | 7.49 Bn | 562.70 Mn | 24.11% |
| 9 | FinVolution | 6.22 Bn | 4.97 Bn | 311.24 Mn | 15.96% |
| 10 | Sezzle | 5.91 Bn | 5.79 Bn | - | 50.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 58.43% |
| Dec 31, 2025 | 55.76% |
| Sep 30, 2025 | 58.84% |
| Jun 30, 2025 | 58.74% |
| Mar 31, 2025 | 57.23% |
| Dec 31, 2024 | 52.58% |
| Sep 30, 2024 | 54.34% |
| Jun 30, 2024 | 57.98% |
| Mar 31, 2024 | 56.77% |
| Dec 31, 2023 | 51.50% |
| Sep 30, 2023 | 58.84% |
| Jun 30, 2023 | 58.32% |
| Mar 31, 2023 | 54.56% |
| Dec 31, 2022 | 54.74% |
| Sep 30, 2022 | 54.07% |
| Jun 30, 2022 | 54.90% |
| Mar 31, 2022 | 57.09% |
| Dec 31, 2021 | 54.20% |
| Sep 30, 2021 | 54.50% |
| Jun 30, 2021 | 51.70% |