MA Q1 2021 Earnings Report — Mastercard Incorporated Revenue & Financial Results | Market Cap Arena

Mastercard IncorporatedMA

Q1 2021 Earnings

Reported April 29, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$4.2B	$4.1B	$4.0B	0.8%	3.6%
Op. Income	$2.2B	$2.1B	$2.2B	6.8%	-0.6%
Gross Margin	73.4%	76.5%	76.0%	-3.0pp	-2.6pp
Net Margin	44.0%	43.3%	42.2%	0.7pp	1.8pp
EPS (Diluted)	$1.83	$1.78	$1.68	2.8%	8.9%
Free Cash Flow	$1.3B	$2.1B	$1.6B	-37.3%	-20.1%

Revenue Flow

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$1.1B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$119M
General & Administrative	$564M
SG&A Expenses	$683M
Other Expenses	$171M
Operating Expenses	$854M
Cost & Expenses	$2.0B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$107M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$362M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$163M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.2B
Cost of Revenue	$1.1B
GROSS PROFIT	$3.1B
R&D Expenses	$0
Selling & Marketing	$119M
General & Administrative	$564M
SG&A Expenses	$683M
Other Expenses	$171M
Operating Expenses	$854M
Cost & Expenses	$2.0B
OPERATING INCOME	$2.2B
Interest Income	$0
Interest Expense	$107M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$362M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$163M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$163M
Stock-Based Compensation	$65M
Deferred Income Tax	$33M
Other Non-Cash Items	$255M
Change in Working Capital	-$881M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$144M
Acquisitions (Net)	-$3.4B
Purchases of Investments	-$235M
Sales/Maturities of Investments	$174M
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$3.6B
Net Debt Issuance	$1.3B
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$439M
Other Financing Activities	$28M
NET CASH FROM FINANCING	-$606M
FREE CASH FLOW	$1.3B
Net Change in Cash	-$2.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$7.2B
Short-Term Investments	$489M
Net Receivables	$4.3B
Inventory	$0
Other Current Assets	$4.3B
TOTAL CURRENT ASSETS	$16.4B
PP&E (Net)	$1.9B
Goodwill	$7.1B
Intangible Assets	$3.3B
Long-Term Investments	$1.3B
Tax Assets	$459M
Other Non-Current Assets	$4.4B
TOTAL NON-CURRENT ASSETS	$18.4B
TOTAL ASSETS	$34.8B
Account Payables	$476M
Short-Term Debt	$649M
Deferred Revenue	$0
Other Current Liabilities	$3.0B
TOTAL CURRENT LIABILITIES	$11.5B
Long-Term Debt	$13.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$391M
Other Non-Current Liabilities	$3.3B
TOTAL NON-CURRENT LIABILITIES	$16.9B
TOTAL LIABILITIES	$28.3B
Common Stock	$0
Additional Paid-In Capital	$4.9B
Retained Earnings	$40.1B
Treasury Stock	-$38.0B
Accum. Other Comp. Income	-$738M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$126M
TOTAL EQUITY	$6.5B
TOTAL LIABILITIES & EQUITY	$34.8B
Total Debt	$13.9B
Net Debt	$6.6B