Mastercard (MA) Return on Capital Employed [ROCE] (2009 - 2026)
Mastercard's Return on Capital Employed [ROCE] was 68.07% in Q2 2026, up 13.52 percentage points from 54.55% a year earlier and up 3.35 percentage points from the prior quarter.
Powered by 
Analysis
Mastercard (MA) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Mastercard came in at 66.64%, up 6.81 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now increased for five consecutive years, with a five-year change of +25.33 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 59.83% in FY2024 (+2.23 pp), 57.59% in FY2023 (+6.55 pp), 51.05% in FY2022 (+6.17 pp) and 44.88% in FY2021 (+3.57 pp).
- The Q2 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] in data going back to Q3 2009.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for four straight quarters, with an average year-over-year change of +3.31 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q2 2026 (a gain of 13.52 percentage points); the worst was Q1 2025 (a drop of 3.54 percentage points).
- Per Business Quant data, MA's Return on Capital Employed [ROCE] in the three quarters before Q2 2026 was 64.72% (Q1 2026), 61.03% (Q4 2025) and 56.60% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 687.36 Bn | 630.68 Bn | - | 42.61% |
| 2 | Mastercard | 513.04 Bn | 472.96 Bn | - | 68.07% |
| 3 | Wise | 14.65 Bn | 14.65 Bn | - | - |
| 4 | Remitly Global | 5.11 Bn | 2.76 Bn | 307.34 Mn | 15.95% |
| 5 | Western Union | 1.91 Bn | -2.11 Bn | 336.50 Mn | - |
| 6 | International Money Express | 382.67 Mn | -237.48 Mn | - | 9.54% |
| 7 | Currenc | 167.21 Mn | -59.72 Mn | 3.70 Mn | -77.84% |
| 8 | Sentage Holdings | 4.88 Mn | 4.88 Mn | - | - |
| 9 | American Express | 208.01 Bn | -160.24 Mn | - | - |
| 10 | Capital One Financial | 122.27 Bn | 122.27 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 68.07% |
| Mar 31, 2026 | 64.72% |
| Dec 31, 2025 | 61.03% |
| Sep 30, 2025 | 56.60% |
| Jun 30, 2025 | 54.55% |
| Mar 31, 2025 | 52.97% |
| Dec 31, 2024 | 54.79% |
| Sep 30, 2024 | 54.62% |
| Jun 30, 2024 | 55.28% |
| Mar 31, 2024 | 56.50% |
| Dec 31, 2023 | 56.49% |
| Sep 30, 2023 | 55.68% |
| Jun 30, 2023 | 53.78% |
| Mar 31, 2023 | 49.45% |
| Dec 31, 2022 | 51.11% |
| Sep 30, 2022 | 50.79% |
| Jun 30, 2022 | 46.77% |
| Mar 31, 2022 | 42.51% |
| Dec 31, 2021 | 43.13% |
| Sep 30, 2021 | 39.46% |
API Access
Mastercard Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=MA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "MA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=MA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();