Mastercard Inc (MA) closed fiscal year 2025 with a gross margin of 77.9 % and a net margin of 45.6 %.
Mastercard Inc (MA) closed fiscal year 2025 with a gross margin of 77.9 % and a net margin of 45.6 %. The same year shows an EBITDA margin of 61.1 % and an EBIT margin of 57.6 %. The free cash flow margin was 52.3 %. Against the previous year the gross margin moved +1.6 pp and the net margin −0.1 pp. Across the period the gross margin ranges between 76.0 % in 2023 and 77.9 % in 2025. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 76.33 % | 76.01 % | 76.31 % | 77.89 % |
| EBITDA margin (%) | 29.64 % | -8.45 % | 47.09 % | 52.36 % | 43.30 % | 56.38 % | 57.05 % | 57.29 % | 56.32 % | 56.92 % | 56.49 % | 35.46 % | 40.78 % | 36.67 % | 36.21 % | 58.52 % | 59.00 % | 58.50 % | 61.11 % |
| EBIT margin (%) | 27.24 % | -10.70 % | 44.32 % | 49.68 % | 40.41 % | 53.27 % | 53.95 % | 53.90 % | 52.53 % | 53.46 % | 52.99 % | 33.36 % | 38.69 % | 34.22 % | 33.78 % | 55.15 % | 55.81 % | 55.32 % | 57.63 % |
| Net margin (%) | 26.70 % | -5.09 % | 28.69 % | 33.33 % | 28.39 % | 37.33 % | 37.34 % | 38.42 % | 39.39 % | 37.61 % | 31.34 % | 26.81 % | 32.50 % | 27.46 % | 29.08 % | 44.60 % | 44.56 % | 45.65 % | 45.58 % |
| FCF margin (%) | 16.92 % | 6.75 % | 25.91 % | 29.54 % | 38.83 % | 38.59 % | 47.69 % | 34.12 % | 39.99 % | 39.62 % | 42.92 % | 26.99 % | 31.07 % | 29.15 % | 30.34 % | 48.36 % | 46.25 % | 50.79 % | 52.33 % |
