Question 1

What is Mastercard's P/B ratio?

Accepted Answer

Mastercard (MA) P/B ratio is 70.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Mastercard?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Mastercard specifically, the relevant sector benchmark is the current sector median of 1.7×.

Question 5

Is Mastercard's P/B ratio high or low?

Accepted Answer

Mastercard's P/B ratio of 70.7× is above its own 5-year average of 59.5× and above the sector median of 1.7×. That places the current reading at the 88th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Mastercard's historical P/B ratio range?

Accepted Answer

In the available daily series, Mastercard (MA) P/B ratio has ranged from a low of 3.1× in 2006 to a high of 81.7× in 2025. The 5-year average is 59.5× and the 5-year median is 60.1×.

Question 7

What was Mastercard's P/B ratio in 2025?

Accepted Answer

Mastercard (MA) P/B ratio at the end of 2025 was 66.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Mastercard's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$512B	$7.74B	66.2×	-8.3×	Dec 31, 2025
2024	$483B	$6.49B	74.5×	+16.8×	Dec 31, 2024
2023	$399B	$6.93B	57.6×	+4.6×	Dec 31, 2023
2022	$334B	$6.3B	53.0×	+4.7×	Dec 31, 2022
2021	$353B	$7.31B	48.3×	-7.4×	Dec 31, 2021
2020	$356B	$6.39B	55.6×	+4.6×	Dec 31, 2020
2019	$301B	$5.89B	51.1×	+15.0×	Dec 31, 2019
2018	$195B	$5.4B	36.1×	+6.8×	Dec 31, 2018
2017	$160B	$5.47B	29.3×	+9.4×	Dec 31, 2017
2016	$112B	$5.66B	19.8×	+1.7×	Dec 31, 2016
2015	$109B	$6.03B	18.1×	+3.5×	Dec 31, 2015
2014	$99.3B	$6.79B	14.6×	+1.1×	Dec 31, 2014
2013	$101B	$7.48B	13.5×	+4.7×	Dec 31, 2013
2012	$60.9B	$6.92B	8.8×	+0.7×	Dec 31, 2012
2011	$47.3B	$5.87B	8.1×	+2.5×	Dec 31, 2011
2010	$29.1B	$5.21B	5.6×	-3.9×	Dec 31, 2010
2009	$33.3B	$3.5B	9.5×	-0.1×	Dec 31, 2009
2008	$18.5B	$1.93B	9.6×	+0.3×	Dec 31, 2008
2007	$28.3B	$3.03B	9.3×	+3.7×	Dec 31, 2007
2006	$13.4B	$2.36B	5.7×	+1.7×	Dec 31, 2006
2005	$4.6B	$1.17B	3.9×	-0.8×	Dec 31, 2005
2004	$4.6B	$975M	4.7×	-0.6×	Dec 31, 2004
2003	$3.7B	$699M	5.3×	—	Dec 31, 2003


AXIS Capital Holdings (AXS)	1.2×
Loews (L)	1.2×
First Financial (THFF)	1.1×
Citizens Financial Group (CFG)	1.1×
Citigroup (C)	1.1×
Federal Agricultural Mortgage (AGM)	1.1×
UMB Financial (UMBF)	1.1×
Southside Bancshares (SBSI)	1.1×
Prudential Financial (PRU)	1.1×
United Bankshares (UBSI)	1.1×
Alerus Financial (ALRS)	1.0×
Capital One Financial (COF)	1.0×
Franklin Resources (BEN)	1.0×
American International Group (AIG)	1.0×
Eagle Financial Services (EFSI)	1.0×
Truist Financial (TFC)	1.0×
Ares Capital (ARCC)	0.9×
Huntington Bancshares (HBAN)	0.9×
Auburn National Bancorporation (AUBN)	0.9×
Invesco (IVZ)	0.9×
Everest Group (EG)	0.9×
PSB Holdings (PSBQ)	0.8×
Global Payments (GPN)	0.7×
Assured Guaranty (AGO)	0.7×
Atlantic Union Bankshares (AUB)	0.0×

P/B Ratio for Mastercard (MA) 2003-2026

P/B Ratio daily chart for Mastercard (MA)

Historical P/B Ratio for Mastercard (MA) from 2003 to 2025

About P/B Ratio at Mastercard (MA)

Mastercard P/B Ratio by Year

Mastercard P/B Ratio 2025: 66.2×

Mastercard P/B Ratio 2024: 74.5×

Mastercard P/B Ratio 2023: 57.6×

Mastercard P/B Ratio 2022: 53.0×

Mastercard P/B Ratio 2021: 48.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Mastercard (MA) Key Financials