Mastercard annual operating margin
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Mastercard Operating Margin Growth & History (MA)
Mastercard's operating margin was 57.63% for fiscal 2025.
View full Mastercard company overviewMastercard annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 57.63% | +2.31 pp |
| 2024 | 2024-12-31 | 55.32% | −0.49 pp |
| 2023 | 2023-12-31 | 55.81% | +0.66 pp |
| 2022 | 2022-12-31 | 55.15% | +21.37 pp |
| 2021 | 2021-12-31 | 33.78% | −0.44 pp |
| 2020 | 2020-12-31 | 34.22% | −4.47 pp |
| 2019 | 2019-12-31 | 38.69% | −14.77 pp |
| 2016 | 2016-12-31 | 53.46% | −0.44 pp |
| 2014 | 2014-12-31 | 53.90% | −0.05 pp |
| 2013 | 2013-12-31 | 53.95% | +0.69 pp |
| 2012 | 2012-12-31 | 53.27% | +12.86 pp |
| 2011 | 2011-12-31 | 40.41% | −9.28 pp |
| 2010 | 2010-12-31 | 49.68% | +5.36 pp |
| 2009 | 2009-12-31 | 44.32% | +55.02 pp |
| 2008 | 2008-12-31 | −10.70% | −37.94 pp |
| 2007 | 2007-12-31 | 27.24% | — |
Mastercard quarterly operating margin
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| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 60.22% | +1.49 pp |
| Q1 2026 | 2026-03-31 | 58.43% | +1.20 pp |
| Q4 2025 | 2025-12-31 | 55.76% | +3.17 pp |
| Q3 2025 | 2025-09-30 | 58.84% | +4.50 pp |
| Q2 2025 | 2025-06-30 | 58.74% | +0.76 pp |
| Q1 2025 | 2025-03-31 | 57.23% | +0.45 pp |
| Q4 2024 | 2024-12-31 | 52.58% | +1.09 pp |
| Q3 2024 | 2024-09-30 | 54.34% | −4.50 pp |
| Q2 2024 | 2024-06-30 | 57.98% | −0.34 pp |
| Q1 2024 | 2024-03-31 | 56.77% | +2.22 pp |
| Q4 2023 | 2023-12-31 | 51.50% | +17.55 pp |
| Q3 2023 | 2023-09-30 | 58.84% | +24.17 pp |
| Q2 2023 | 2023-06-30 | 58.32% | +21.56 pp |
| Q1 2023 | 2023-03-31 | 54.56% | +20.79 pp |
| Q3 2022 | 2022-09-30 | 33.95% | −0.77 pp |
| Q2 2022 | 2022-06-30 | 34.67% | +2.25 pp |
| Q1 2022 | 2022-03-31 | 36.76% | +2.58 pp |
| Q4 2021 | 2021-12-31 | 33.77% | +1.74 pp |
| Q3 2021 | 2021-09-30 | 34.72% | −0.75 pp |
| Q2 2021 | 2021-06-30 | 32.43% | −1.09 pp |
| Q1 2021 | 2021-03-31 | 34.18% | −1.70 pp |
| Q4 2020 | 2020-12-31 | 32.03% | −3.66 pp |
| Q3 2020 | 2020-09-30 | 35.47% | −5.02 pp |
| Q2 2020 | 2020-06-30 | 33.52% | −5.98 pp |
| Q1 2020 | 2020-03-31 | 35.88% | −3.41 pp |
| Q4 2019 | 2019-12-31 | 35.69% | −4.91 pp |
| Q3 2019 · Sep 30 | 2019-09-30 | 40.49% | +4.30 pp |
| Q2 2019 · Jun 30 | 2019-06-30 | 39.50% | +3.50 pp |
| Q1 2019 · Mar 31 | 2019-03-31 | 39.29% | −17.83 pp |
| Q3 2019 · Sep 30 | 2018-09-30 | 40.60% | −13.54 pp |
| Q2 2019 · Jun 30 | 2018-06-30 | 36.19% | −18.90 pp |
| Q1 2019 · Mar 31 | 2018-03-31 | 36.00% | −13.46 pp |
| Q3 2017 | 2017-09-30 | 57.12% | −0.86 pp |
| Q2 2017 | 2017-06-30 | 54.14% | +2.92 pp |
| Q1 2017 | 2017-03-31 | 55.08% | −0.03 pp |
| Q4 2016 | 2016-12-31 | 49.46% | −4.65 pp |
| Q3 2016 | 2016-09-30 | 57.99% | +5.64 pp |
| Q2 2016 | 2016-06-30 | 51.22% | −9.36 pp |
| Q1 2016 | 2016-03-31 | 55.11% | +13.44 pp |
| Q3 2015 | 2015-09-30 | 54.11% | −2.92 pp |
| Q2 2015 | 2015-06-30 | 52.34% | −6.06 pp |
| Q1 2015 | 2015-03-31 | 60.58% | +1.42 pp |
| Q4 2014 | 2014-12-31 | 41.67% | −1.60 pp |
| Q3 2014 | 2014-09-30 | 57.03% | +0.76 pp |
| Q2 2014 | 2014-06-30 | 58.40% | −0.18 pp |
| Q1 2014 | 2014-03-31 | 59.16% | +1.08 pp |
| Q4 2013 | 2013-12-31 | 43.27% | −4.17 pp |
| Q3 2013 | 2013-09-30 | 56.27% | +0.79 pp |
| Q2 2013 | 2013-06-30 | 58.59% | +5.07 pp |
| Q1 2013 | 2013-03-31 | 58.08% | +1.20 pp |
| Q4 2012 | 2012-12-31 | 47.44% | +48.02 pp |
| Q3 2012 | 2012-09-30 | 55.47% | +0.36 pp |
| Q2 2012 | 2012-06-30 | 53.52% | +0.43 pp |
| Q1 2012 | 2012-03-31 | 56.88% | +1.19 pp |
| Q4 2011 | 2011-12-31 | −0.58% | −40.15 pp |
| Q3 2011 | 2011-09-30 | 55.12% | +1.47 pp |
| Q2 2011 | 2011-06-30 | 53.09% | +0.56 pp |
| Q1 2011 | 2011-03-31 | 55.70% | +2.18 pp |
| Q4 2010 | 2010-12-31 | 39.57% | +3.46 pp |
| Q3 2010 | 2010-09-30 | 53.64% | +4.30 pp |
| Q2 2010 | 2010-06-30 | 52.53% | +9.01 pp |
| Q1 2010 | 2010-03-31 | 53.52% | +4.99 pp |
| Q4 2009 | 2009-12-31 | 36.10% | +56.97 pp |
| Q3 2009 | 2009-09-30 | 49.34% | +148.27 pp |
| Q2 2009 | 2009-06-30 | 43.52% | — |
| Q1 2009 | 2009-03-31 | 48.53% | — |
| Q3 2008 | 2008-09-30 | −20.87% | — |
| Q2 2008 | 2008-06-30 | −98.93% | — |
Mastercard operating margin trends
Over the last five reported fiscal years, Mastercard's operating margin increased from 34.22% to 57.63%, a change of +23.41 percentage points. The latest reported quarter, Q2 2026, shows 60.22%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Mastercard filings at SEC.gov ↗