Mastercard (MA) FY2015 results: revenue $9.7 billion, up 2.4% on the year
Mastercard Inc. (MA) reported revenue of $9.7 billion for fiscal 2015, the year ended 31 December 2015, up 2.4% on the year before. Net income was $3.8 billion, up 5.3%, and diluted earnings per share $3.35. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$9.7 billion
+2.4% on the year
FY2008FY2015
Operating margin
52.5%
54.1% a year earlier
FY2008FY2015
Net income
$3.8 billion
+5.3% on the year
FY2008FY2015
Diluted EPS
$3.35
+8.1% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,667
9,441
8,312
+2.4%
Operating income
5,078
5,106
4,503
-0.5%
Operating margin
52.5%
54.1%
54.2%
Interest expense
61.0
48.0
14.0
+27.1%
Pre-tax income
4,958
5,079
4,500
-2.4%
Income tax
1,150
1,462
1,384
-21.3%
Effective tax rate
23.2%
28.8%
30.8%
Net income
3,808
3,617
3,116
+5.3%
Net margin
39.4%
38.3%
37.5%
Diluted EPS
$3.35
$3.10
$2.56
+8.1%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
4,101
3,407
4,135
+20.4%
Capital expenditure
177
175
155
+1.1%
Free cash flow
3,924
3,232
3,980
+21.4%
Free cash flow margin
40.6%
34.2%
47.9%
Cash from investing
-715
690
-4.0
Cash from financing
-2,516
-2,339
-2,629
Depreciation and amortisation
366
321
258
+14.0%
Share-based compensation
122
-15.0
63.0
Buybacks
3,518
3,386
2,443
+3.9%
Dividends paid
727
515
255
+41.2%
Dividend per share
$0.67
$0.49
$0.29
+36.7%
Diluted shares, weighted
1,137m
1,169m
1,215m
-2.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,028
6,790
7,484
-11.2%
Non-controlling interest
34.0
34.0
11.0
0.0%
Debt
3,268
1,494
0.0
+118.7%
Other liabilities
6,939
7,011
6,747
-1.0%
Total liabilities and equity
16,269
15,329
14,242
+6.1%
Fixed assets
675
615
526
+9.8%
Goodwill
1,891
1,522
1,122
+24.2%
Intangible assets
803
714
672
+12.5%
Investments
n/a
1,168
2,707
Securities held for sale or to maturity
861
n/a
n/a
Cash and equivalents
5,747
5,137
3,599
+11.9%
Receivables
1,079
1,109
966
-2.7%
Other assets
5,213
5,064
4,650
+2.9%
Total assets
16,269
15,329
14,242
+6.1%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.