Mastercard annual net debt
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2025
Mastercard Net Debt Growth & History (MA)
Mastercard's net debt was $9.27B for fiscal 2025.
View full Mastercard company overviewMastercard annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $9.27B | −$1.28B | −12.11% |
| 2024 | 2024-12-31 | $10.54B | $2.68B | +34.01% |
| 2023 | 2023-12-31 | $7.87B | $83.0M | +1.07% |
| 2022 | 2022-12-31 | $7.79B | $533.0M | +7.35% |
| 2021 | 2021-12-31 | $7.25B | $3.84B | +112.67% |
| 2020 | 2020-12-31 | $3.41B | $1.11B | +48.20% |
| 2019 | 2019-12-31 | $2.30B | $2.65B | — |
| 2018 | 2018-12-31 | −$348.0M | $161.0M | — |
| 2017 | 2017-12-31 | −$509.0M | $1.03B | — |
| 2016 | 2016-12-31 | −$1.54B | $938.0M | — |
| 2015 | 2015-12-31 | −$2.48B | $1.16B | — |
| 2014 | 2014-12-31 | −$3.64B | −$44.0M | — |
| 2013 | 2013-12-31 | −$3.60B | −$1.55B | — |
| 2012 | 2012-12-31 | −$2.05B | $1.68B | — |
| 2011 | 2011-12-31 | −$3.73B | −$688.0M | — |
| 2010 | 2010-12-31 | −$3.04B | −$1.01B | — |
| 2009 | 2009-12-31 | −$2.03B | −$696.8M | — |
| 2008 | 2008-12-31 | −$1.34B | — | — |
Mastercard quarterly net debt
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Q2.25
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $13.35B | $3.41B | +34.34% |
| Q1 2026 | 2026-03-31 | $11.05B | −$173.0M | −1.54% |
| Q4 2025 | 2025-12-31 | $9.27B | −$1.28B | −12.11% |
| Q3 2025 | 2025-09-30 | $8.67B | $1.38B | +18.85% |
| Q2 2025 | 2025-06-30 | $9.94B | $1.33B | +15.45% |
| Q1 2025 | 2025-03-31 | $11.23B | $2.92B | +35.15% |
| Q4 2024 | 2024-12-31 | $10.54B | $2.68B | +34.01% |
| Q3 2024 | 2024-09-30 | $7.29B | −$1.38B | −15.92% |
| Q2 2024 | 2024-06-30 | $8.61B | −$841.0M | −8.90% |
| Q1 2024 | 2024-03-31 | $8.31B | −$695.0M | −7.72% |
| Q4 2023 | 2023-12-31 | $7.87B | $83.0M | +1.07% |
| Q3 2023 | 2023-09-30 | $8.68B | $1.77B | +25.72% |
| Q2 2023 | 2023-06-30 | $9.45B | $890.0M | +10.40% |
| Q1 2023 | 2023-03-31 | $9.00B | $1.24B | +15.90% |
| Q4 2022 | 2022-12-31 | $7.79B | $533.0M | +7.35% |
| Q3 2022 | 2022-09-30 | $6.90B | −$554.0M | −7.43% |
| Q2 2022 | 2022-06-30 | $8.56B | $877.0M | +11.41% |
| Q1 2022 | 2022-03-31 | $7.77B | $1.14B | +17.26% |
| Q4 2021 | 2021-12-31 | $7.25B | $3.84B | +112.67% |
| Q3 2021 | 2021-09-30 | $7.46B | $5.11B | +217.37% |
| Q2 2021 | 2021-06-30 | $7.68B | $6.32B | +464.51% |
| Q1 2021 | 2021-03-31 | $6.62B | $4.37B | +193.23% |
| Q4 2020 | 2020-12-31 | $3.41B | $1.11B | +48.20% |
| Q3 2020 | 2020-09-30 | $2.35B | −$769.0M | −24.66% |
| Q2 2020 | 2020-06-30 | $1.36B | −$1.17B | −46.27% |
| Q1 2020 | 2020-03-31 | $2.26B | $1.41B | +166.39% |
| Q4 2019 | 2019-12-31 | $2.30B | $2.65B | — |
| Q3 2019 | 2019-09-30 | $3.12B | $3.63B | — |
| Q2 2019 | 2019-06-30 | $2.53B | $2.39B | +1623.13% |
| Q1 2019 | 2019-03-31 | $848.0M | $1.27B | — |
| Q4 2018 | 2018-12-31 | −$348.0M | $161.0M | — |
| Q3 2018 | 2018-09-30 | −$513.0M | −$347.0M | — |
| Q2 2018 | 2018-06-30 | $147.0M | −$2.0M | −1.34% |
| Q1 2018 | 2018-03-31 | −$421.0M | $369.0M | — |
| Q4 2017 | 2017-12-31 | −$509.0M | $1.03B | — |
| Q3 2017 | 2017-09-30 | −$166.0M | $1.71B | — |
| Q2 2017 | 2017-06-30 | $149.0M | $2.02B | — |
| Q1 2017 | 2017-03-31 | −$790.0M | $771.0M | — |
| Q4 2016 | 2016-12-31 | −$1.54B | $938.0M | — |
| Q3 2016 | 2016-09-30 | −$1.88B | $2.37B | — |
| Q2 2016 | 2016-06-30 | −$1.87B | −$4.0M | — |
| Q1 2016 | 2016-03-31 | −$1.56B | $1.15B | — |
| Q4 2015 | 2015-12-31 | −$2.48B | $1.16B | — |
| Q3 2015 | 2015-09-30 | −$4.25B | −$609.0M | — |
| Q2 2015 | 2015-06-30 | −$1.87B | −$482.0M | — |
| Q1 2015 | 2015-03-31 | −$2.71B | −$187.0M | — |
| Q4 2014 | 2014-12-31 | −$3.64B | −$44.0M | — |
| Q3 2014 | 2014-09-30 | −$3.64B | — | — |
| Q2 2014 | 2014-06-30 | −$1.38B | — | — |
| Q1 2014 | 2014-03-31 | −$2.52B | — | — |
| Q4 2013 | 2013-12-31 | −$3.60B | −$1.55B | — |
| Q4 2012 | 2012-12-31 | −$2.05B | $1.68B | — |
| Q4 2011 | 2011-12-31 | −$3.73B | −$688.0M | — |
| Q3 2011 | 2011-09-30 | −$3.75B | −$1.28B | — |
| Q2 2011 | 2011-06-30 | −$2.76B | −$462.0M | — |
| Q1 2011 | 2011-03-31 | −$2.93B | −$831.0M | — |
| Q4 2010 | 2010-12-31 | −$3.04B | −$1.01B | — |
| Q3 2010 | 2010-09-30 | −$2.47B | −$177.7M | — |
| Q2 2010 | 2010-06-30 | −$2.30B | −$270.6M | — |
| Q1 2010 | 2010-03-31 | −$2.10B | — | — |
| Q4 2009 | 2009-12-31 | −$2.03B | −$696.8M | — |
| Q3 2009 | 2009-09-30 | −$2.29B | — | — |
| Q2 2009 | 2009-06-30 | −$2.03B | — | — |
| Q4 2008 | 2008-12-31 | −$1.34B | — | — |
Mastercard net debt trends
Over the last five fiscal years, Mastercard's net debt increased from $3.41B to $9.27B, a change of $5.86B. The latest reported quarter, Q2 2026, shows $13.35B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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