Mastercard vs Visa
Visa is the larger business, with $40.00bn of revenue in fiscal 2025 against $32.79bn for Mastercard (1.2 times as much). Mastercard grew faster (16.4% against 11.3%). Visa kept more of each dollar of sales as profit: a net margin of 50.1% against 45.6%.
| Latest fiscal year | MastercardMA, 2025 | VisaV, 2025 |
|---|---|---|
| Revenue | $32.79bn | $40.00bn |
| Revenue growth | 16.4% | 11.3% |
| Net income | $14.97bn | $20.06bn |
| Operating margin | 57.6% | — |
| Net margin | 45.6% | 50.1% |
| Return on equity | — | 52.1% |
| Free cash flow | $17.16bn | $21.58bn |
| Cash | $10.57bn | $17.16bn |
| Total debt | $19.15bn | $25.39bn |
| Debt to equity | 247.5% | — |
| Dividend per share | $3.15 | — |
| Dividend yield | 0.5% | 0.7% |
| Share buybacks | $11.73bn | $18.32bn |
| Employees | — | 26,000 |
| Market value | $576.50bn | $725.12bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 95 (Strong) | 95 (Strong) |
| Insider trades, 12 months | 0 buys, 74 sales | 0 buys, 25 sales |