Mastercard Incorporated

MANYSEFinancial Services● Active

$491.08

+$9.32(+1.93%)

Market Cap$433.9B

P/E Ratio—

52W High$601.77

52W Low$464.52

Avg Volume3.5M

Open$484.00

Beta0.74

Overview

Mastercard Incorporated (MA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MA · free cash flow · updated Jun 8, 2026

Core FCF metrics

MA · FCF · TTM · margin & CAGR

Free cash flow was $16.91B for FY2025 (fiscal year ending 2025-12-31), up 18.2% year-over-year The FCF margin was 51.6%. Five-year CAGR stands at +21.0%.

FY2025 Free Cash Flow$16.91B▲ +18.2% YoY

Trailing 12M (TTM)$17.72Btrailing 4 quarters sum

FCF Margin51.6%$16.91B ÷ revenue

3-Year CAGR+18.8%FY2022 → FY2025

5-Year CAGR+21.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$17.40B(489M)$16.91B▲ +18.2%51.6%

FY2024$14.78B(474M)$14.31B▲ +23.2%50.8%

FY2023$11.98B(371M)$11.61B▲ +15.0%46.3%

FY2022$11.20B(1.10B)$10.10B▲ +16.8%45.4%

FY2021$9.46B(814M)$8.65B▲ +32.7%45.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MA · P/FCF · FCF yield · FCF per share

Mastercard Incorporated (MA) trades at a FCF yield of 4.08% and a price-to-free-cash-flow ratio of 24.9x. FCF per share stands at $19.75, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.08%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$19.75

TTM FCF ÷ Shares Outstanding

Price / FCF

x24.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x25.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

MA · cash flow statement · operating / investing / financing

For FY2025, Mastercard Incorporated generated $17.40B in operating cash flow and spent 489M in capital expenditures, yielding $16.91B in free cash flow.

Operating Activities

+$17.40B

Cash from core business operations

2025-12-31

Investing Activities

−$1.36B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$14.18B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($17.40B) − |CapEx| (489M) = FCF ($16.91B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

MA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Mastercard IncorporatedYOU

$16.91B+18.2%51.6%

17%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Bank of America Corporation

BAC

$12.61B+243.2%6.6%

13%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Mastercard Incorporated (MA) reported free cash flow of $16.91B for FY2025 (fiscal year ending 2025-12-31), up 18.2% year-over-year. The FCF margin was 51.6%.

Based on available data, Mastercard Incorporated has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $16.91B in FY2025. The 5-year CAGR stands at +21.0%.

Mastercard Incorporated's FCF yield is 4.08% and price-to-FCF ratio is 24.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MA free cash flow · 8 questions

Mastercard Incorporated free cash flow was $16.91B for FY2025, up 18.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $17.72B.

MA free cash flowMA FCFMA FCF 2025MA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Mastercard Incorporated · Mastercard Incorporated SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026