Mastercard annual debt-to-equity ratio
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Mastercard Debt-to-Equity Ratio Growth & History (MA)
Mastercard's debt-to-equity ratio was 2.56 for fiscal 2025.
View full Mastercard company overviewMastercard annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 2.56 | −0.36 | −12.44% |
| 2024 | 2024-12-31 | 2.93 | 0.55 | +23.27% |
| 2023 | 2023-12-31 | 2.37 | 0.03 | +1.11% |
| 2022 | 2022-12-31 | 2.35 | 0.34 | +17.05% |
| 2021 | 2021-12-31 | 2.01 | −0.11 | −5.16% |
| 2020 | 2020-12-31 | 2.12 | 0.54 | +34.24% |
| 2019 | 2019-12-31 | 1.58 | 0.40 | +34.26% |
| 2018 | 2018-12-31 | 1.17 | 0.18 | +18.36% |
| 2017 | 2017-12-31 | 0.99 | 0.08 | +8.31% |
| 2016 | 2016-12-31 | 0.92 | 0.37 | +68.93% |
| 2015 | 2015-12-31 | 0.54 | 0.32 | +146.39% |
| 2014 | 2014-12-31 | 0.22 | 0.22 | — |
| 2013 | 2013-12-31 | 0.00 | −0.00 | — |
| 2012 | 2012-12-31 | 0.00 | −0.00 | −57.58% |
| 2011 | 2011-12-31 | 0.00 | −0.00 | −85.81% |
| 2010 | 2010-12-31 | 0.00 | −0.00 | −23.50% |
| 2009 | 2009-12-31 | 0.01 | −0.08 | −92.83% |
| 2008 | 2008-12-31 | 0.09 | — | — |
Mastercard quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 4.39 | 1.98 | +81.81% |
| Q1 2026 | 2026-03-31 | 2.82 | 0.00 | +0.12% |
| Q4 2025 | 2025-12-31 | 2.56 | −0.36 | −12.44% |
| Q3 2025 | 2025-09-30 | 2.40 | −0.07 | −2.67% |
| Q2 2025 | 2025-06-30 | 2.42 | 0.31 | +14.88% |
| Q1 2025 | 2025-03-31 | 2.82 | 0.66 | +30.86% |
| Q4 2024 | 2024-12-31 | 2.93 | 0.55 | +23.27% |
| Q3 2024 | 2024-09-30 | 2.47 | 0.00 | +0.04% |
| Q2 2024 | 2024-06-30 | 2.10 | −0.74 | −25.90% |
| Q1 2024 | 2024-03-31 | 2.15 | −0.77 | −26.26% |
| Q4 2023 | 2023-12-31 | 2.37 | 0.03 | +1.11% |
| Q3 2023 | 2023-09-30 | 2.47 | 0.18 | +7.95% |
| Q2 2023 | 2023-06-30 | 2.84 | 0.49 | +20.94% |
| Q1 2023 | 2023-03-31 | 2.92 | 0.84 | +40.28% |
| Q4 2022 | 2022-12-31 | 2.35 | 0.34 | +17.05% |
| Q3 2022 | 2022-09-30 | 2.28 | 0.22 | +10.49% |
| Q2 2022 | 2022-06-30 | 2.35 | 0.19 | +8.76% |
| Q1 2022 | 2022-03-31 | 2.08 | −0.11 | −5.02% |
| Q4 2021 | 2021-12-31 | 2.01 | −0.11 | −5.16% |
| Q3 2021 | 2021-09-30 | 2.07 | −0.10 | −4.68% |
| Q2 2021 | 2021-06-30 | 2.16 | 0.23 | +11.69% |
| Q1 2021 | 2021-03-31 | 2.19 | −0.12 | −5.07% |
| Q4 2020 | 2020-12-31 | 2.12 | 0.54 | +34.24% |
| Q3 2020 | 2020-09-30 | 2.17 | 0.51 | +30.63% |
| Q2 2020 | 2020-06-30 | 1.93 | 0.29 | +17.63% |
| Q1 2020 | 2020-03-31 | 2.31 | 1.01 | +78.00% |
| Q4 2019 | 2019-12-31 | 1.58 | 0.40 | +34.26% |
| Q3 2019 | 2019-09-30 | 1.66 | 0.56 | +50.85% |
| Q2 2019 | 2019-06-30 | 1.64 | 0.43 | +35.80% |
| Q1 2019 | 2019-03-31 | 1.30 | 0.16 | +14.38% |
| Q4 2018 | 2018-12-31 | 1.17 | 0.18 | +18.36% |
| Q3 2018 | 2018-09-30 | 1.10 | 0.26 | +31.51% |
| Q2 2018 | 2018-06-30 | 1.21 | 0.30 | +32.87% |
| Q1 2018 | 2018-03-31 | 1.13 | 0.20 | +22.02% |
| Q4 2017 | 2017-12-31 | 0.99 | 0.08 | +8.31% |
| Q3 2017 | 2017-09-30 | 0.84 | 0.30 | +56.53% |
| Q2 2017 | 2017-06-30 | 0.91 | 0.34 | +60.69% |
| Q1 2017 | 2017-03-31 | 0.93 | 0.32 | +52.81% |
| Q4 2016 | 2016-12-31 | 0.92 | 0.37 | +68.93% |
| Q3 2016 | 2016-09-30 | 0.53 | 0.30 | +124.19% |
| Q2 2016 | 2016-06-30 | 0.57 | 0.33 | +142.62% |
| Q1 2016 | 2016-03-31 | 0.61 | 0.37 | +156.39% |
| Q4 2015 | 2015-12-31 | 0.54 | 0.32 | +146.39% |
| Q3 2015 | 2015-09-30 | 0.24 | 0.01 | +3.80% |
| Q2 2015 | 2015-06-30 | 0.23 | −0.00 | −2.09% |
| Q1 2015 | 2015-03-31 | 0.24 | 0.01 | +4.29% |
| Q4 2014 | 2014-12-31 | 0.22 | 0.22 | — |
| Q3 2014 | 2014-09-30 | 0.23 | — | — |
| Q2 2014 | 2014-06-30 | 0.24 | — | — |
| Q1 2014 | 2014-03-31 | 0.23 | — | — |
| Q4 2013 | 2013-12-31 | 0.00 | −0.00 | — |
| Q4 2012 | 2012-12-31 | 0.00 | −0.00 | −57.58% |
| Q4 2011 | 2011-12-31 | 0.00 | −0.00 | −85.81% |
| Q3 2011 | 2011-09-30 | 0.00 | −0.00 | −42.09% |
| Q2 2011 | 2011-06-30 | 0.00 | −0.01 | −87.96% |
| Q1 2011 | 2011-03-31 | 0.00 | −0.00 | −12.30% |
| Q4 2010 | 2010-12-31 | 0.00 | −0.00 | −23.50% |
| Q3 2010 | 2010-09-30 | 0.00 | −0.01 | −78.55% |
| Q2 2010 | 2010-06-30 | 0.01 | −0.00 | −21.27% |
| Q1 2010 | 2010-03-31 | 0.01 | — | — |
| Q4 2009 | 2009-12-31 | 0.01 | −0.08 | −92.83% |
| Q3 2009 | 2009-09-30 | 0.01 | — | — |
| Q2 2009 | 2009-06-30 | 0.01 | — | — |
| Q4 2008 | 2008-12-31 | 0.09 | — | — |
Mastercard debt-to-equity ratio trends
Over the last five fiscal years, Mastercard's debt-to-equity ratio increased from 2.12 to 2.56, a change of 0.45. The latest reported quarter, Q2 2026, shows 4.39.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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