Mastercard (MA) FY2024 results: revenue $28.2 billion, up 12.2% on the year
Mastercard Inc. (MA) reported revenue of $28.2 billion for fiscal 2024, the year ended 31 December 2024, up 12.2% on the year before. Net income was $12.9 billion, up 15.0%, and diluted earnings per share $13.89. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2025.
Revenue
$28.2 billion
+12.2% on the year
FY2017FY2024
Operating margin
55.3%
55.8% a year earlier
FY2017FY2024
Net income
$12.9 billion
+15.0% on the year
FY2017FY2024
Diluted EPS
$13.89
+17.4% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
14,780
11,980
11,195
+23.4%
Capital expenditure
474
371
442
+27.8%
Free cash flow
14,306
11,609
10,753
+23.2%
Free cash flow margin
50.8%
46.3%
48.4%
Cash from investing
-3,402
-1,351
-1,470
Cash from financing
-10,836
-9,488
-10,328
Depreciation and amortisation
897
799
750
+12.3%
Share-based compensation
526
460
295
+14.3%
Buybacks
10,954
9,032
8,753
+21.3%
Dividends paid
2,448
2,158
1,903
+13.4%
Dividend per share
$2.74
$2.37
$2.04
+15.6%
Diluted shares, weighted
927m
946m
971m
-2.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,485
6,929
6,298
-6.4%
Non-controlling interest
30.0
46.0
58.0
-34.8%
Debt
18,226
15,681
14,023
+16.2%
Operating lease liabilities
627
633
630
-0.9%
Other liabilities
22,713
19,159
17,715
+18.6%
Total liabilities and equity
48,081
42,448
38,724
+13.3%
Fixed assets
2,138
2,061
2,006
+3.7%
Goodwill
9,193
7,660
7,522
+20.0%
Intangible assets
5,453
4,086
3,859
+33.5%
Securities held for sale or to maturity
330
592
400
-44.3%
Cash and equivalents
8,442
8,588
7,008
-1.7%
Receivables
3,773
4,060
3,425
-7.1%
Other assets
18,752
15,401
14,504
+21.8%
Total assets
48,081
42,448
38,724
+13.3%
10-K for the year ended 31 December 2024, filed 12 February 2025: the filing.