MA FY 2013 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

FY 2013 Earnings

Reported February 14, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$8.3B	—	$7.4B	—	12.5%
Op. Income	$4.5B	—	$3.9B	—	14.4%
Gross Margin	79.1%	—	78.8%	—	0.3pp
Net Margin	37.5%	—	37.3%	—	0.2pp
EPS (Diluted)	$2.56	—	$2.19	—	16.9%
Free Cash Flow	$3.8B	—	$2.7B	—	40.5%

Revenue Flow

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$6.6B
R&D Expenses	$0
Selling & Marketing	$841M
General & Administrative	$874M
SG&A Expenses	$1.7B
Other Expenses	$355M
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$4.5B
Interest Income	$33M
Interest Expense	$14M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$4.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$258M
EBIT	$4.5B
EBITDA	$4.8B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$8.3B
Cost of Revenue	$1.7B
GROSS PROFIT	$6.6B
R&D Expenses	$0
Selling & Marketing	$841M
General & Administrative	$874M
SG&A Expenses	$1.7B
Other Expenses	$355M
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$4.5B
Interest Income	$33M
Interest Expense	$14M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$4.5B
Income Tax Expense	$1.4B
Net Income from Continuing Ops	$3.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.1B
D&A	$258M
EBIT	$4.5B
EBITDA	$4.8B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$3.1B
Depreciation & Amortization	$258M
Stock-Based Compensation	$63M
Deferred Income Tax	-$119M
Other Non-Cash Items	$67M
Change in Working Capital	$750M
OPERATING CASH FLOW	$4.1B
Capital Expenditure	-$299M
Acquisitions (Net)	-$144M
Purchases of Investments	-$2.5B
Sales/Maturities of Investments	$2.8B
Other Investing Activities	$140M
NET CASH FROM INVESTING	-$4M
Net Debt Issuance	$35M
Common Stock Repurchased	-$2.4B
Common Dividends Paid	-$255M
Other Financing Activities	$34M
NET CASH FROM FINANCING	-$2.6B
FREE CASH FLOW	$3.8B
Net Change in Cash	$1.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.6B
Short-Term Investments	$2.7B
Net Receivables	$2.3B
Inventory	$0
Other Current Assets	$2.3B
TOTAL CURRENT ASSETS	$10.9B
PP&E (Net)	$526M
Goodwill	$1.1B
Intangible Assets	$672M
Long-Term Investments	$229M
Tax Assets	$0
Other Non-Current Assets	$743M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$14.2B
Account Payables	$338M
Short-Term Debt	$35M
Deferred Revenue	$0
Other Current Liabilities	$3.7B
TOTAL CURRENT LIABILITIES	$6.0B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$715M
TOTAL NON-CURRENT LIABILITIES	$715M
TOTAL LIABILITIES	$6.7B
Common Stock	$0
Additional Paid-In Capital	$3.8B
Retained Earnings	$10.1B
Treasury Stock	-$6.6B
Accum. Other Comp. Income	$178M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.5B
Minority Interest	$11M
TOTAL EQUITY	$7.5B
TOTAL LIABILITIES & EQUITY	$14.2B
Total Debt	$35M
Net Debt	-$3.6B