Question 1

What is Mastercard's P/S ratio?

Accepted Answer

Mastercard (MA) P/S ratio is 14.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Mastercard?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Mastercard specifically, the relevant sector benchmark is the current sector median of 2.3×.

Question 5

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

Accepted Answer

Mastercard's P/S ratio of 14.0× is below its own 5-year average of 16.4× and above the sector median of 2.3×. That places the current reading at the 8th 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/S ratio range?

Accepted Answer

In the available daily series, Mastercard (MA) P/S ratio has ranged from a low of 1.6× in 2004 to a high of 25.4× in 2021. The 5-year average is 16.4× and the 5-year median is 16.1×.

Question 7

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

Accepted Answer

Mastercard (MA) P/S ratio at the end of 2025 was 15.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$32.8B	15.6×	-1.5×	Dec 31, 2025
2024	$483B	$28.2B	17.1×	+1.2×	Dec 31, 2024
2023	$399B	$25.1B	15.9×	+0.9×	Dec 31, 2023
2022	$334B	$22.2B	15.0×	-3.7×	Dec 31, 2022
2021	$353B	$18.9B	18.7×	-4.5×	Dec 31, 2021
2020	$356B	$15.3B	23.2×	+5.4×	Dec 31, 2020
2019	$301B	$16.9B	17.8×	+4.8×	Dec 31, 2019
2018	$195B	$15B	13.0×	+0.2×	Dec 31, 2018
2017	$160B	$12.5B	12.8×	+2.4×	Dec 31, 2017
2016	$112B	$10.8B	10.4×	-0.9×	Dec 31, 2016
2015	$109B	$9.67B	11.3×	+0.8×	Dec 31, 2015
2014	$99.3B	$9.45B	10.5×	-1.6×	Dec 31, 2014
2013	$101B	$8.35B	12.1×	+3.9×	Dec 31, 2013
2012	$60.9B	$7.39B	8.2×	+1.2×	Dec 31, 2012
2011	$47.3B	$6.71B	7.1×	+1.8×	Dec 31, 2011
2010	$29.1B	$5.54B	5.3×	-1.3×	Dec 31, 2010
2009	$33.3B	$5.1B	6.5×	+2.8×	Dec 31, 2009
2008	$18.5B	$4.99B	3.7×	-3.2×	Dec 31, 2008
2007	$28.3B	$4.07B	7.0×	+2.9×	Dec 31, 2007
2006	$13.4B	$3.33B	4.0×	+2.5×	Dec 31, 2006
2005	$4.6B	$2.94B	1.6×	-0.2×	Dec 31, 2005
2004	$4.6B	$2.59B	1.8×	+0.1×	Dec 31, 2004
2003	$3.7B	$2.23B	1.7×	—	Dec 31, 2003


Citigroup (C)	1.5×
W. R. Berkley (WRB)	1.5×
American International Group (AIG)	1.5×
Capital One Financial (COF)	1.5×
Travelers Companies (TRV)	1.4×
Federal Agricultural Mortgage (AGM)	1.4×
Franklin Resources (BEN)	1.4×
Brookfield (BN)	1.3×
American Financial Group (AFG)	1.3×
Hartford Insurance Group (HIG)	1.3×
Markel (MKL)	1.3×
PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
PayPal (PYPL)	1.2×
Loews (L)	1.2×
AXIS Capital Holdings (AXS)	1.1×
Old Republic International (ORI)	1.0×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Everest Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×
Atlantic Union Bankshares (AUB)	0.0×

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

P/S Ratio daily chart for Mastercard (MA)

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

About P/S Ratio at Mastercard (MA)

Mastercard P/S Ratio by Year

Mastercard P/S Ratio 2025: 15.6×

Mastercard P/S Ratio 2024: 17.1×

Mastercard P/S Ratio 2023: 15.9×

Mastercard P/S Ratio 2022: 15.0×

Mastercard P/S Ratio 2021: 18.7×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Mastercard (MA) Key Financials