MA
NYSE · Financial Services · Financial - Credit Services · US
Research · Sep 29, 2026
[MA] Mastercard: Q3 2026 Earnings Preview on Cross-Border Fees vs Rebates
Mastercard grew Q2 2026 net revenue 14% to $9,277 million at a 61.1% adjusted operating margin; Q3 results test whether cross-border fees can keep outrunning rising rebates.
Research · Sep 3, 2026
[MA] Mastercard Thesis 2026: Cross-Border Recovery Drives Margin to Record Territory
Mastercard FY25 (Dec 31, 2025) at $32.8B net revenue (+16.4%, accelerated from FY24 +12%). GDV +8.7% USD; cross-border +18% USD / +15% local. OpMargin expanded 230bp to 57.6% (vs V's 570bp compression). Net income $15.0B; FCF $16.4B; capital return $14.5B (buybacks $11.7B + dividends $2.8B). VAS ~29% of net revenue, the structural mix lever vs V. 13 analysts: 1 SB / 11 Buy / 1 Hold; April 4 of 5 PT cuts.
Research · Apr 9, 2026
Market Optimism Surges on April 8: Which Cyclical Powerhouses Will Capitalize on Fading Recession Fears?
Anchored to Bloomberg's April 8, 2026 report of market optimism, this analyzes six cyclicals (JPM, XOM, V, MA, MU, CAT) benefiting from fading recession fears via resilient spending and growth. Micron leads conviction with 85% revenue surge; ranks prioritize exposure and value.