MA · NYQ · Financial Services
Mastercard Incorporated
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 108.38
Market price
USD 658.10
Implied upside
-83.5%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 185.8%
- Payout
- 19%
- Cost of equity
- 8.47%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 7.7bn | USD 9.1bn | USD 10.7bn | USD 12.2bn | USD 13.8bn | USD 15.4bn | USD 16.8bn | USD 18.1bn | USD 19.2bn | USD 20.0bn |
| Return on equity | 169.2% | 152.6% | 136.1% | 119.5% | 102.9% | 86.3% | 69.7% | 53.2% | 36.6% | 20.0% |
| Excess return | USD 12.4bn | USD 13.2bn | USD 13.6bn | USD 13.6bn | USD 13.1bn | USD 12.0bn | USD 10.3bn | USD 8.1bn | USD 5.4bn | USD 2.3bn |
| Present value | USD 11.5bn | USD 11.2bn | USD 10.7bn | USD 9.8bn | USD 8.7bn | USD 7.3bn | USD 5.8bn | USD 4.2bn | USD 2.6bn | USD 1.0bn |
| Book equity | USD 7.7bn |
| Present value of excess returns | USD 72.9bn |
| Terminal, growing at 2.50% | USD 17.6bn |
| Equity value | USD 98.2bn |
| Per share | USD 108.38 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.846 | Reported 0.770, pulled toward 1.0 (Blume) |
| Cost of equity | 8.47% | Risk-free + beta x equity risk premium |
Download as Excel
Live formulas, not pasted numbers - edit a driver and the workbook reprices.
Yahoo Finance and RBA data. General information, not advice. Methodology.