Mastercard (MA) FY2011 results: revenue $6.7 billion, up 21.2% on the year
Mastercard Inc. (MA) reported revenue of $6.7 billion for fiscal 2011, the year ended 31 December 2011, up 21.2% on the year before. Net income was $1.9 billion, up 3.3%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$6.7 billion
+21.2% on the year
FY2007FY2011
Operating margin
40.4%
49.7% a year earlier
FY2007FY2011
Net income
$1.9 billion
+3.3% on the year
FY2007FY2011
Diluted EPS
$1.49
+5.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
6,714
5,539
5,099
+21.2%
Operating income
2,713
2,752
2,260
-1.4%
Operating margin
40.4%
49.7%
44.3%
Interest expense
25.0
52.0
115
-51.9%
Pre-tax income
2,746
2,757
2,218
-0.4%
Income tax
842
910
755
-7.5%
Effective tax rate
30.7%
33.0%
34.1%
Net income
1,906
1,846
1,463
+3.3%
Net margin
28.4%
33.3%
28.7%
Diluted EPS
$1.49
$1.41
$1.12
+5.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,684
1,697
1,378
+58.2%
Capital expenditure
77.0
61.0
57.0
+26.2%
Free cash flow
2,607
1,636
1,321
+59.4%
Free cash flow margin
38.8%
29.5%
25.9%
Cash from investing
-748
-641
-664
Cash from financing
-1,215
19.0
-185
Depreciation and amortisation
194
148
141
+31.1%
Share-based compensation
35.0
63.0
88.0
-44.4%
Buybacks
1,148
0.0
0.0
Dividends paid
77.0
79.0
79.0
-2.5%
Dividend per share
$0.06
$0.06
$0.06
0.0%
Diluted shares, weighted
1,280m
1,310m
1,302m
-2.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
5,868
5,205
3,504
+12.7%
Non-controlling interest
9.0
11.0
8.0
-18.2%
Debt
0.0
20.0
20.0
Other liabilities
4,816
3,601
3,939
+33.7%
Total liabilities and equity
10,693
8,837
7,470
+21.0%
Fixed assets
449
439
449
+2.3%
Goodwill
1,014
677
309
+49.8%
Intangible assets
665
530
415
+25.5%
Investments
1,285
937
1,004
+37.1%
Cash and equivalents
3,734
3,067
2,055
+21.7%
Receivables
808
650
536
+24.3%
Other assets
2,738
2,537
2,701
+7.9%
Total assets
10,693
8,837
7,470
+21.0%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.