Company Valuation: Mastercard Incorporated

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 353,053 334,328 399,971 483,302 512,648 450,310 - -
Change - -5.3% 19.63% 20.83% 6.07% -12.16% - -
Enterprise Value (EV) 1 359,060 340,943 406,472 492,756 520,750 457,742 455,223 449,504
Change - -5.05% 19.22% 21.23% 5.68% -12.1% -0.55% -1.26%
P/E 41x 34x 36.1x 37.9x 34.6x 26.4x 22.5x 19.5x
PBR 48.2x 52.8x 57.1x 73.6x 65.4x 43.6x 28.3x 19x
PEG - 2x 2.3x 2.2x 1.8x 1.6x 1.3x 1.3x
Capitalization / Revenue 18.7x 15x 15.9x 17.2x 15.6x 12.1x 10.8x 9.62x
EV / Revenue 19x 15.3x 16.2x 17.5x 15.9x 12.3x 10.9x 9.61x
EV / EBITDA 32.7x 25.4x 26.5x 28.4x 25.3x 19.6x 17.2x 15.1x
EV / EBIT 35x 26.9x 27.9x 30x 26.8x 20.7x 18.2x 15.9x
EV / FCF 39.6x 31.7x 35x 34.4x 31.7x 26.2x 22.3x 19.6x
FCF Yield 2.52% 3.15% 2.86% 2.9% 3.16% 3.82% 4.48% 5.1%
Dividend per Share 2 1.81 2.04 2.37 2.74 3.04 3.538 3.912 4.322
Rate of return 0.5% 0.59% 0.56% 0.52% 0.53% 0.69% 0.77% 0.85%
EPS 2 8.76 10.22 11.83 13.89 16.52 19.33 22.67 26.18
Distribution rate 20.7% 20% 20% 19.7% 18.4% 18.3% 17.3% 16.5%
Net sales 1 18,884 22,237 25,098 28,167 32,791 37,087 41,733 46,796
EBITDA 1 10,984 13,401 15,346 17,349 20,544 23,401 26,434 29,725
EBIT 1 10,258 12,651 14,547 16,452 19,401 22,157 25,043 28,201
Net income 1 8,687 9,930 11,195 12,874 14,968 17,100 19,522 21,912
Net Debt 1 6,007 6,615 6,501 9,454 8,102 7,433 4,913 -806
Reference price 2 359.32 347.73 426.51 526.57 570.88 509.64 509.64 509.64
Nbr of stocks (in thousands) 982,557 961,460 937,776 917,831 897,996 883,584 - -
Announcement Date 27/01/22 26/01/23 31/01/24 30/01/25 29/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
59.79x - - - 955M
9.55x0.04x0.86x2.04% 325M
5.36x-0.04x-0.5x4.21% 163M
4.43x0.32x3.27x6.17% 164M
13.76x1.26x8.28x5.92% 151M
Average 18.58x 0.40x 2.98x 4.59% 351.5M
Weighted average by Cap. 36.34x 0.31x 2.47x 4.05%

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 Incorporated