Company Valuation: Mastercard, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 353,053 334,328 399,971 483,302 512,648 487,332 - -
Change - -5.3% 19.63% 20.83% 6.07% -4.94% - -
Enterprise Value (EV) 1 359,060 340,943 406,472 492,756 520,750 494,764 492,245 486,526
Change - -5.05% 19.22% 21.23% 5.68% -4.99% -0.51% -1.16%
P/E 41x 34x 36.1x 37.9x 34.6x 28.5x 24.3x 21.1x
PBR 48.2x 52.8x 57.1x 73.6x 65.4x 47.2x 30.6x 20.6x
PEG - 2x 2.3x 2.2x 1.8x 1.7x 1.4x 1.4x
Capitalization / Revenue 18.7x 15x 15.9x 17.2x 15.6x 13.1x 11.7x 10.4x
EV / Revenue 19x 15.3x 16.2x 17.5x 15.9x 13.3x 11.8x 10.4x
EV / EBITDA 32.7x 25.4x 26.5x 28.4x 25.3x 21.1x 18.6x 16.4x
EV / EBIT 35x 26.9x 27.9x 30x 26.8x 22.3x 19.7x 17.2x
EV / FCF 39.6x 31.7x 35x 34.4x 31.7x 28.3x 24.2x 21.2x
FCF Yield 2.52% 3.15% 2.86% 2.9% 3.16% 3.54% 4.14% 4.71%
Dividend per Share 2 1.81 2.04 2.37 2.74 3.04 3.526 3.971 4.439
Rate of return 0.5% 0.59% 0.56% 0.52% 0.53% 0.64% 0.72% 0.8%
EPS 2 8.76 10.22 11.83 13.89 16.52 19.33 22.67 26.17
Distribution rate 20.7% 20% 20% 19.7% 18.4% 18.2% 17.5% 17%
Net sales 1 18,884 22,237 25,098 28,167 32,791 37,090 41,736 46,814
EBITDA 1 10,984 13,401 15,346 17,349 20,544 23,405 26,445 29,754
EBIT 1 10,258 12,651 14,547 16,452 19,401 22,161 25,048 28,225
Net income 1 8,687 9,930 11,195 12,874 14,968 17,102 19,522 21,910
Net Debt 1 6,007 6,615 6,501 9,454 8,102 7,433 4,913 -806
Reference price 2 359.32 347.73 426.51 526.57 570.88 551.54 551.54 551.54
Nbr of stocks (in thousands) 982,557 961,460 937,776 917,831 897,996 883,584 - -
Announcement Date 1/27/22 A 1/26/23 A 1/31/24 A 1/30/25 A 1/29/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.53x13.34x21.14x0.64% 487B
59.68x - - - 956M
8.97x-0x-0.09x2.19% 316M
5.57x-0.03x-0.4x4.05% 176M
4.26x0.31x3.24x6.34% 169M
14.06x1.3x8.53x5.79% 152M
Average 20.18x 2.98x 6.48x 3.8% 81.52B
Weighted average by Cap. 28.55x 13.32x 21.11x 0.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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