Mastercard (MA) Return on Invested Capital [ROIC] (2009 - 2026)
Mastercard's Return on Invested Capital [ROIC] came in at 58.97% for Q2 2026, up 5.77 percentage points from 53.20% a year earlier but down 1.34 percentage points from the prior quarter.
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Analysis
Mastercard (MA) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Mastercard's Return on Invested Capital [ROIC] was 59.14%, up 3.65 percentage points from FY2024.
- Return on Invested Capital [ROIC] has increased in each of the last five years, with a five-year change of +19.41 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 55.49% in FY2024 (+2.06 pp), 53.44% in FY2023 (+3.61 pp), 49.83% in FY2022 (+7.81 pp) and 42.02% in FY2021 (+2.29 pp).
- The five-year range for quarterly Return on Invested Capital [ROIC] is 38.02% (Q3 2021) to 60.30% (Q1 2026).
- Year-over-year, Return on Invested Capital [ROIC] has increased for four consecutive quarters, with an average year-over-year change of +2.43 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q2 2022 (a gain of 11.80 percentage points), and the weakest in Q2 2025 (a drop of 1.13 percentage points).
- Business Quant data shows MA's Return on Invested Capital [ROIC] at 60.30% (Q1 2026), 56.76% (Q4 2025) and 54.03% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 761.85 Bn | 709.39 Bn | - | 40.13% |
| 2 | Mastercard | 576.33 Bn | 536.42 Bn | - | 56.59% |
| 3 | Wise | 11.36 Bn | 11.36 Bn | - | - |
| 4 | Remitly Global | 4.75 Bn | 2.21 Bn | 319.61 Mn | 19.38% |
| 5 | Western Union | 2.15 Bn | -2.01 Bn | 343.00 Mn | 11.92% |
| 6 | International Money Express | 221.76 Mn | -398.39 Mn | - | 6.87% |
| 7 | Currenc | 116.19 Mn | -135.10 Mn | 3.70 Mn | -22.87% |
| 8 | Sentage Holdings | 4.40 Mn | 324,699.40 | - | - |
| 9 | American Express | 216.03 Bn | 15.51 Bn | - | 19.59% |
| 10 | Capital One Financial | 123.02 Bn | 123.02 Bn | - | 14.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 56.59% |
| Jun 30, 2026 | 58.97% |
| Mar 31, 2026 | 60.30% |
| Dec 31, 2025 | 56.76% |
| Sep 30, 2025 | 54.03% |
| Jun 30, 2025 | 53.20% |
| Mar 31, 2025 | 53.65% |
| Dec 31, 2024 | 52.01% |
| Sep 30, 2024 | 51.54% |
| Jun 30, 2024 | 54.33% |
| Mar 31, 2024 | 52.46% |
| Dec 31, 2023 | 51.58% |
| Sep 30, 2023 | 52.27% |
| Jun 30, 2023 | 49.98% |
| Mar 31, 2023 | 49.27% |
| Dec 31, 2022 | 50.22% |
| Sep 30, 2022 | 48.76% |
| Jun 30, 2022 | 46.91% |
| Mar 31, 2022 | 43.88% |
| Dec 31, 2021 | 40.54% |
API Access
Mastercard Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=MA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=MA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();