Mastercard Cash Flow Statement
NYSE: MAConsumer DiscretionaryBusiness ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Mastercard free cash flow
In fiscal 2025, Mastercard generated $17.65 billion of operating cash flow and spent $489.0 million on capital expenditures. That left free cash flow of $17.16 billion, a free-cash-flow margin of 52.3% of revenue. Free cash flow was up 19.9% from the prior year's $14.31 billion.
Mastercard returned $14.48 billion to shareholders: $2.76 billion in dividends and $11.73 billion in share repurchases, equal to 84% of free cash flow. Free cash flow covered dividend payments 6.2 times.
Summary generated from market data by MetaCap's automated system. Methodology
Mastercard cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 14.97B | 12.87B | 11.20B | 9.93B | 8.69B | 6.41B | 8.12B | 5.86B | 3.92B | 4.06B |
| Net Income growth (YoY) | +16.27% | +15.00% | +12.74% | +14.31% | +35.50% | -21.03% | +38.56% | +49.66% | -3.55% | +6.59% |
| Depreciation & Amortization | 1.14B | 897.00M | 799.00M | 750.00M | 726.00M | 580.00M | 522.00M | 459.00M | 437.00M | 373.00M |
| Stock-Based Compensation | 597.00M | 526.00M | 460.00M | 295.00M | 273.00M | 254.00M | 250.00M | 196.00M | 176.00M | 149.00M |
| Change in Working Capital | 1.49B | 1.88B | 203.00M | 592.00M | 1.24B | 152.00M | 659.00M | 217.00M | 434.00M | 327.00M |
| Operating Cash Flow | 17.65B | 14.78B | 11.98B | 11.20B | 9.46B | 7.22B | 8.18B | 6.22B | 5.66B | 4.64B |
| Capital Expenditures | -489.00M | -474.00M | -371.00M | -442.00M | -407.00M | -339.00M | -422.00M | -330.00M | -300.00M | -215.00M |
| Investing Cash Flow | -1.36B | -3.40B | -1.35B | -1.47B | -5.27B | -1.88B | -1.64B | -506.00M | -1.78B | -1.16B |
| Dividends Paid | -2.76B | -2.45B | -2.16B | -1.90B | -1.74B | -1.60B | -1.34B | -1.04B | -942.00M | -837.00M |
| Share Repurchases | -11.73B | -10.95B | -9.03B | -8.75B | -5.90B | -4.47B | -6.50B | -4.93B | -3.76B | -3.51B |
| Debt Issued | 1.24B | 3.96B | 1.55B | 1.12B | 2.02B | 3.96B | 2.72B | 991.00M | 0 | 1.97B |
| Debt Repaid | -750.00M | -1.34B | 0 | -724.00M | -650.00M | 0 | -500.00M | 0 | -64.00M | 0 |
| Financing Cash Flow | -14.18B | -10.84B | -9.49B | -10.33B | -6.55B | -2.15B | -5.87B | -4.97B | -4.76B | -2.34B |
| Net Change in Cash | 2.44B | 343.00M | 1.27B | -706.00M | -2.52B | 3.45B | 632.00M | 745.00M | -681.00M | 1.08B |
| Free Cash Flow | 17.16B | 14.31B | 11.61B | 10.75B | 9.06B | 6.88B | 7.76B | 5.89B | 5.36B | 4.42B |
This table shows 10 annual periods of Mastercard's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MA's reporting calendar. What is a cash flow statement?