MA FY 2009 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

FY 2009 Earnings

Reported February 18, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$5.1B	—	$5.0B	—	2.2%
Op. Income	$2.3B	—	-$535M	—	522.8%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	28.7%	—	-5.1%	—	33.8pp
EPS (Diluted)	$1.12	—	$-0.20	—	660.0%
Free Cash Flow	$1.2B	—	$243M	—	409.9%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$0
GROSS PROFIT	$5.1B
R&D Expenses	$0
Selling & Marketing	$756M
General & Administrative	$1.9B
SG&A Expenses	$2.7B
Other Expenses	$148M
Operating Expenses	$2.8B
Cost & Expenses	$2.8B
OPERATING INCOME	$2.3B
Interest Income	$56M
Interest Expense	$115M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$755M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$141M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$0
GROSS PROFIT	$5.1B
R&D Expenses	$0
Selling & Marketing	$756M
General & Administrative	$1.9B
SG&A Expenses	$2.7B
Other Expenses	$148M
Operating Expenses	$2.8B
Cost & Expenses	$2.8B
OPERATING INCOME	$2.3B
Interest Income	$56M
Interest Expense	$115M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$755M
Net Income from Continuing Ops	$1.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.5B
D&A	$141M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.5B
Depreciation & Amortization	$141M
Stock-Based Compensation	$88M
Deferred Income Tax	$337M
Other Non-Cash Items	$23M
Change in Working Capital	-$674M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$139M
Acquisitions (Net)	-$3M
Purchases of Investments	-$650M
Sales/Maturities of Investments	$134M
Other Investing Activities	-$6M
NET CASH FROM INVESTING	-$664M
Net Debt Issuance	-$149M
Common Stock Repurchased	-$5M
Common Dividends Paid	-$79M
Other Financing Activities	$48M
NET CASH FROM FINANCING	-$185M
FREE CASH FLOW	$1.2B
Net Change in Cash	$550M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.1B
Short-Term Investments	$824M
Net Receivables	$995M
Inventory	$0
Other Current Assets	$816M
TOTAL CURRENT ASSETS	$5.0B
PP&E (Net)	$449M
Goodwill	$309M
Intangible Assets	$415M
Long-Term Investments	$518M
Tax Assets	$264M
Other Non-Current Assets	$512M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$7.5B
Account Payables	$768M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$22M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$80M
Other Non-Current Liabilities	$689M
TOTAL NON-CURRENT LIABILITIES	$791M
TOTAL LIABILITIES	$4.0B
Common Stock	$14.0K
Additional Paid-In Capital	$3.4B
Retained Earnings	$1.1B
Treasury Stock	-$1.3B
Accum. Other Comp. Income	$194M
Other Equity	$594.0K
TOTAL STOCKHOLDERS' EQUITY	$3.5B
Minority Interest	$8M
TOTAL EQUITY	$3.5B
TOTAL LIABILITIES & EQUITY	$7.5B
Total Debt	$22M
Net Debt	-$2.0B