MA FY 2019 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

FY 2019 Earnings

Reported February 14, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$16.9B	—	$14.9B	—	12.9%
Op. Income	$9.7B	—	$7.3B	—	32.7%
Gross Margin	79.0%	—	78.5%	—	0.5pp
Net Margin	48.1%	—	39.2%	—	8.9pp
EPS (Diluted)	$7.94	—	$5.60	—	41.8%
Free Cash Flow	$7.5B	—	$5.7B	—	30.4%

Revenue Flow

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$3.5B
GROSS PROFIT	$13.3B
R&D Expenses	$0
Selling & Marketing	$934M
General & Administrative	$2.2B
SG&A Expenses	$3.1B
Other Expenses	$554M
Operating Expenses	$3.7B
Cost & Expenses	$7.2B
OPERATING INCOME	$9.7B
Interest Income	$0
Interest Expense	$224M
Other Income/Expenses	$67M
INCOME BEFORE TAX	$9.7B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$8.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8.1B
D&A	$522M
EBIT	$10.0B
EBITDA	$10.5B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$16.9B
Cost of Revenue	$3.5B
GROSS PROFIT	$13.3B
R&D Expenses	$0
Selling & Marketing	$934M
General & Administrative	$2.2B
SG&A Expenses	$3.1B
Other Expenses	$554M
Operating Expenses	$3.7B
Cost & Expenses	$7.2B
OPERATING INCOME	$9.7B
Interest Income	$0
Interest Expense	$224M
Other Income/Expenses	$67M
INCOME BEFORE TAX	$9.7B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$8.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$8.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$8.1B
D&A	$522M
EBIT	$10.0B
EBITDA	$10.5B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$8.1B
Depreciation & Amortization	$522M
Stock-Based Compensation	$250M
Deferred Income Tax	-$7M
Other Non-Cash Items	$998M
Change in Working Capital	-$1.7B
OPERATING CASH FLOW	$8.2B
Capital Expenditure	-$728M
Acquisitions (Net)	-$1.4B
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$2.2B
Common Stock Repurchased	-$6.5B
Common Dividends Paid	-$1.3B
Other Financing Activities	-$375M
NET CASH FROM FINANCING	-$5.9B
FREE CASH FLOW	$7.5B
Net Change in Cash	$632M

Balance Sheet

Item	Amount
Cash & Equivalents	$7.0B
Short-Term Investments	$688M
Net Receivables	$5.5B
Inventory	$0
Other Current Assets	$3.6B
TOTAL CURRENT ASSETS	$16.9B
PP&E (Net)	$1.8B
Goodwill	$4.0B
Intangible Assets	$1.4B
Long-Term Investments	$914M
Tax Assets	$543M
Other Non-Current Assets	$3.6B
TOTAL NON-CURRENT ASSETS	$12.3B
TOTAL ASSETS	$29.2B
Account Payables	$489M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$2.3B
TOTAL CURRENT LIABILITIES	$11.9B
Long-Term Debt	$8.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$85M
Other Non-Current Liabilities	$2.7B
TOTAL NON-CURRENT LIABILITIES	$11.3B
TOTAL LIABILITIES	$23.2B
Common Stock	$0
Additional Paid-In Capital	$4.8B
Retained Earnings	$34.0B
Treasury Stock	-$32.2B
Accum. Other Comp. Income	-$673M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.9B
Minority Interest	$98M
TOTAL EQUITY	$6.0B
TOTAL LIABILITIES & EQUITY	$29.2B
Total Debt	$8.5B
Net Debt	$1.5B