How does Mastercard (MA) make money?

Mastercard (MA) generates revenue primarily from Payment Network, which accounted for 58.9% of total revenue in TTM through Q1 2026. The company reported $33.9B in revenue and converted 45.9% of it into net profit, equivalent to roughly $15.6B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Mastercard (MA)?

Mastercard (MA) reported a gross profit margin of 83% in TTM through Q1 2026, equivalent to $28.2B in gross profit on $33.9B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Mastercard (MA)?

Mastercard (MA) reported an operating profit margin of 59.4% in TTM through Q1 2026, equivalent to $20.2B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Mastercard (MA)?

Mastercard (MA) reported a net profit margin of 45.9% in TTM through Q1 2026, equivalent to $15.6B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Mastercard (MA) profitable?

Yes. Mastercard (MA) reported $15.6B in net income for TTM through Q1 2026, with a net profit margin of 45.9%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Mastercard (MA) spend on capital expenditures?

Mastercard (MA) spent $484M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 1.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Mastercard (MA) generate?

Mastercard (MA) generated $17.7B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 52.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Mastercard (MA)?

Mastercard (MA) had an effective tax rate of 19.6% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Mastercard (MA)?

Mastercard (MA) reports revenue across 2 reportable product segments, led by Payment Network at 58.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Mastercard (MA) generate most of its revenue?

International Markets is the largest geographic market for Mastercard (MA), accounting for 64.7% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Mastercard Makes Money: 2026 Visual Revenue Map

Mastercard (MA) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 30, 2026).

Mastercard (MA) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Mastercard (MA), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Payment Network	$20B	58.9%
Value-Added Services And Solutions	$13.9B	41.1%
Total	$33.9B	100%

Payment Network$20B
Value-Added Services And Solutions$13.9B
Total$33.9B

Mastercard (MA) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Mastercard (MA), TTM through Q1 2026
Region	Revenue (USD)	% of total
International Markets	$19.5B	64.7%
North America	$10.6B	35.3%
Total	$30.1B	100%

International Markets
North America
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Mastercard (MA) reports revenue across 2 reportable product segments; the largest segment was Payment Network at 58.9%, followed by Value-Added Services And Solutions (41.1%). Geographically, International Markets accounted for 64.7% of revenue, followed by North America (35.3%).

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