Company Valuation: Mastercard, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 353,053 334,328 399,971 483,302 512,648 483,709 - -
Change - -5.3% 19.63% 20.83% 6.07% -5.64% - -
Enterprise Value (EV) 1 359,060 340,943 406,472 492,756 520,750 491,142 488,622 482,903
Change - -5.05% 19.22% 21.23% 5.68% -5.69% -0.51% -1.17%
P/E 41x 34x 36.1x 37.9x 34.6x 28.3x 24.2x 20.9x
PBR 48.2x 52.8x 57.1x 73.6x 65.4x 46.8x 30.3x 20.4x
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 13x 11.6x 10.3x
EV / Revenue 19x 15.3x 16.2x 17.5x 15.9x 13.2x 11.7x 10.3x
EV / EBITDA 32.7x 25.4x 26.5x 28.4x 25.3x 21x 18.5x 16.2x
EV / EBIT 35x 26.9x 27.9x 30x 26.8x 22.2x 19.5x 17.1x
EV / FCF 39.6x 31.7x 35x 34.4x 31.7x 28.1x 24x 21.1x
FCF Yield 2.52% 3.15% 2.86% 2.9% 3.16% 3.56% 4.17% 4.74%
Dividend per Share 2 1.81 2.04 2.37 2.74 3.04 3.519 3.971 4.451
Rate of return 0.5% 0.59% 0.56% 0.52% 0.53% 0.64% 0.73% 0.81%
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 37,092 41,765 46,763
EBITDA 1 10,984 13,401 15,346 17,349 20,544 23,376 26,409 29,754
EBIT 1 10,258 12,651 14,547 16,452 19,401 22,149 25,070 28,220
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 2 359.32 347.73 426.51 526.57 570.88 547.44 547.44 547.44
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.($)
58.39x - - - 936M
8.35x-0.03x-0.58x2.35% 295M
5.29x-0.04x-0.54x4.26% 168M
4.21x0.31x3.22x6.42% 167M
13.93x1.28x8.42x5.85% 151M
Average 18.04x 0.38x 2.63x 4.72% 343.47M
Weighted average by Cap. 35.42x 0.29x 1.98x 4.31%

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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  5. Valuation Mastercard, Inc.