MA FY 2023 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

FY 2023 Earnings

Reported February 13, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$25.1B	—	$22.2B	—	12.9%
Op. Income	$14.0B	—	$12.3B	—	14.2%
Gross Margin	76.0%	—	76.3%	—	-0.3pp
Net Margin	44.6%	—	44.7%	—	-0.1pp
EPS (Diluted)	$11.83	—	$10.23	—	15.6%
Free Cash Flow	$11.6B	—	$10.1B	—	15.0%

Revenue Flow

Item	Amount
REVENUE	$25.1B
Cost of Revenue	$6.0B
GROSS PROFIT	$19.1B
R&D Expenses	$0
Selling & Marketing	$825M
General & Administrative	$2.8B
SG&A Expenses	$3.6B
Other Expenses	$1.4B
Operating Expenses	$5.1B
Cost & Expenses	$11.1B
OPERATING INCOME	$14.0B
Interest Income	$0
Interest Expense	$575M
Other Income/Expenses	-$369M
INCOME BEFORE TAX	$13.6B
Income Tax Expense	$2.4B
Net Income from Continuing Ops	$11.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11.2B
D&A	$799M
EBIT	$14.2B
EBITDA	$15.0B
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$25.1B
Cost of Revenue	$6.0B
GROSS PROFIT	$19.1B
R&D Expenses	$0
Selling & Marketing	$825M
General & Administrative	$2.8B
SG&A Expenses	$3.6B
Other Expenses	$1.4B
Operating Expenses	$5.1B
Cost & Expenses	$11.1B
OPERATING INCOME	$14.0B
Interest Income	$0
Interest Expense	$575M
Other Income/Expenses	-$369M
INCOME BEFORE TAX	$13.6B
Income Tax Expense	$2.4B
Net Income from Continuing Ops	$11.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$11.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$11.2B
D&A	$799M
EBIT	$14.2B
EBITDA	$15.0B
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$11.2B
Depreciation & Amortization	$799M
Stock-Based Compensation	$460M
Deferred Income Tax	-$236M
Other Non-Cash Items	$1.7B
Change in Working Capital	-$1.9B
OPERATING CASH FLOW	$12.0B
Capital Expenditure	-$371M
Acquisitions (Net)	$0
Purchases of Investments	-$736M
Sales/Maturities of Investments	$479M
Other Investing Activities	-$723M
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$1.6B
Common Stock Repurchased	-$9.0B
Common Dividends Paid	-$2.2B
Other Financing Activities	$237M
NET CASH FROM FINANCING	-$9.5B
FREE CASH FLOW	$11.6B
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$8.6B
Short-Term Investments	$592M
Net Receivables	$4.1B
Inventory	$0
Other Current Assets	$5.7B
TOTAL CURRENT ASSETS	$19.0B
PP&E (Net)	$2.1B
Goodwill	$7.7B
Intangible Assets	$4.1B
Long-Term Investments	$1.7B
Tax Assets	$1.4B
Other Non-Current Assets	$6.6B
TOTAL NON-CURRENT ASSETS	$23.5B
TOTAL ASSETS	$42.4B
Account Payables	$834M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$16.3B
Long-Term Debt	$14.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$369M
Other Non-Current Liabilities	$4.5B
TOTAL NON-CURRENT LIABILITIES	$19.2B
TOTAL LIABILITIES	$35.5B
Common Stock	$0
Additional Paid-In Capital	$5.9B
Retained Earnings	$62.6B
Treasury Stock	-$60.4B
Accum. Other Comp. Income	-$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.9B
Minority Interest	$68M
TOTAL EQUITY	$7.0B
TOTAL LIABILITIES & EQUITY	$42.4B
Total Debt	$15.7B
Net Debt	$7.1B