MAMastercard
Mastercard is a technology company in the global payments industry. 10-K, Item 1
- Headquarters
- Purchase, NY
- CEO
- Michael Miebach
- Next results
- around Jan 28, 2027
The biggest changes in the 10-K filed 2026-02-11, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
55.3% → 57.6% (+2.3 pts) Big change FY to 2025-12-31 vs 2024-12-31“GAAP Non-GAAP Both the as-reported and as-adjusted operating expenses increases were primarily due to higher general and administrative expenses.”
Read it in the 10-K ↗
Cash from operations
+19.4% Big change FY to 2025-12-31 vs 2024-12-31“Net cash provided by operating activities increased $2.9 billion in 2025 versus the prior year, primarily due to higher net income after adjusting for non-cash items.”
Read it in the 10-K ↗
Revenue
+16.4% Big change FY to 2025-12-31 vs 2024-12-31“The remaining increase in net revenue was attributable to organic growth in our payment network and value-added services and solutions.”
Read it in the 10-K ↗
“Net revenue from our payment network included $20,522 million of rebates and incentives provided to customers, which increased 16%, on both an as-reported and currency-neutral basis, in 2025 versus the prior year, primarily due to an increase in our key drivers as well as new and renewed deals.”
Read it in the 10-K ↗
Net income
+16.3% Big change FY to 2025-12-31 vs 2024-12-31“1 Other income (expense), net increased in 2025 versus the prior year, primarily driven by approximately $135 million recognized related to government grants.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on MA in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MA/export.csv") into a cell.