Mastercard

Revenue and cash flows are highly recurring and tied to secular card and digital payment penetration.

TTM net revenue is about 30.2B dollars and TTM net income about 13.6B dollars, with consistent double‑digit growth in 2024 and 1H25. The model is a tollbooth on consumer and commercial spend globally, diversified so that the US was ~30% of revenue in 2024 and no single customer exceeded 10% of revenue.

Key cyclicality is in cross‑border travel and FX, which can swing growth, yet long‑term trends remain favorable.