Visa (V) vs Mastercard (MA): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
The two are priced about the same on earnings (35.1 and 33.7 times); Visa keeps the higher net margin (50.8% against 46.7%); revenue growth is about the same (14.4% and 15.3%); dividend yield is about the same (0.6% and 0.5%). Visa clears 2 of this site's 8 value filters and Mastercard 2. Figures are as of November 7, 2026; each is on the page below with its source.
How do Visa and Mastercard compare on the numbers?
| Measure | Visa (V) | Mastercard (MA) | Clearer lead |
|---|---|---|---|
| Share price | $422.65 | $652.70 | |
| Market value | $793 billion | $571 billion | |
| P/E ratio (trailing) | 35.1 | 33.7 | About the same |
| PEG ratio | 2.71 | 2.22 | MA |
| Free-cash-flow yield | 2.8% | 2.7% | About the same |
| Net profit margin | 50.8% | 46.7% | V |
| Revenue growth, last year | 14.4% | 15.3% | About the same |
| Return on equity | 61.3% | 252.9% | MA |
| Debt to equity | 0.61 | 3.54 | V |
| Dividend yield | 0.6% | 0.5% | About the same |
| Margin of safety (DCF) | n/a | n/a | n/a |
| Value filters passed (of 8) | 2 | 2 | About the same |
| Distance from 52-week high | -3.2% | -3.0% |
How have Visa and Mastercard shares done against each other?
Visa 192Mastercard 187
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Visa shares are up 92% and Mastercard shares up 87%, so Visa has pulled ahead of Mastercard by 5 points of the starting price. The deepest fall from a prior high in that window was 21% for Visa and 25% for Mastercard.
| Period | Visa (V) | Mastercard (MA) |
|---|---|---|
| Last 1 year | +25.4% | +18.0% |
| Last 3 years | +73.6% | +69.0% |
| Last 5 years | +95.1% | +87.1% |
Which has grown faster, Visa or Mastercard?
Over 5 years, Visa grew revenue 12.9% a year and earnings per share 15.8% a year; Mastercard grew revenue 16.5% and earnings per share 21.0%. Its net margin averaged 52.0% at Visa and 45.3% at Mastercard.
| Measure | Visa (V) | Mastercard (MA) |
|---|---|---|
| Latest fiscal year ended | Sep 2025 | Dec 2025 |
| Revenue, first year to latest | $21.8 billion to $40 billion | $15.3 billion to $32.8 billion |
| Revenue growth per year | 12.9% | 16.5% |
| Earnings per share, first year to latest | $4.89 to $10.20 | $6.37 to $16.52 |
| Earnings per share growth per year | 15.8% | 21.0% |
| Net margin, latest year | 50.1% | 45.6% |
| Net margin, average of the years | 52.0% | 45.3% |
| Free cash flow margin, latest year | 53.9% | 52.3% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years. Fiscal years end in different months, so each is shown for its own latest 5 years.
What growth does each share price assume?
| Measure | Visa (V) | Mastercard (MA) |
|---|---|---|
| Free cash flow growth the price implies | n/a | n/a |
| Free cash flow per share | $11.76 | $17.62 |
| Margin of safety on this site's DCF | n/a | n/a |
A free-cash-flow DCF does not fit Visa (its free cash flow is negative or missing, or it is the kind of business the DCF leaves out), so no implied growth is shown.
A free-cash-flow DCF does not fit Mastercard (its free cash flow is negative or missing, or it is the kind of business the DCF leaves out), so no implied growth is shown.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Visa leads
- Higher net margin: 50.8% against 46.7%
- Less debt for its equity: 0.61 against 3.54
- A higher net margin in its latest filed year: 50.1% against 45.6%
- A higher average net margin: 52.0% against 45.3%
- A higher free-cash-flow margin in its latest filed year: 53.9% against 52.3%
Where Mastercard leads
- Lower PEG: 2.22 against 2.71
- Higher return on equity: 252.9% against 61.3%
- Faster revenue growth over its filed record: 16.5% against 12.9%
- Faster earnings-per-share growth over its filed record: 21.0% against 15.8%
About the same on: p/e ratio (trailing), free-cash-flow yield, revenue growth, last year, dividend yield, value filters passed (of 8). A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Visa. Visa runs the payment network behind Visa credit and debit cards. It does not lend money or issue most cards, since banks do that; Visa earns small fees each time a card is used.
Mastercard. Mastercard runs the payment network behind Mastercard credit and debit cards. It does not lend money or issue most cards, since banks do that; Mastercard earns small fees each time a card is used.
Both are in the Financial Services industry on this site. Visa and Mastercard run the same kind of business: card networks that earn a small fee each time a card is used, without lending money or taking credit risk themselves. They differ mainly in size, in where each is strongest and in how much each pays banks and merchants in incentives.
What stands out about Visa
- Misses 4 of the 8 value filters. It fails Trailing P/E < 25 (35.08), PEG Ratio < 1.5 (2.71) and Price/Book < 8 (21.95) and 1 more; the other 2 pass and 2 were not evaluated.
- Strongest against peers: net margin. At 50.8% (peer median 20.6%) it ranks 1st of 40 among financial services stocks this site tracks.
- Weakest against peers: dividend yield. At 0.65% (peer median 1.45%) it ranks 32nd of 34 among financial services stocks this site tracks.
What stands out about Mastercard
- Misses 4 of the 8 value filters. It fails Trailing P/E < 25 (33.70), PEG Ratio < 1.5 (2.22) and Price/Book < 8 (84.62) and 1 more; the other 2 pass and 2 were not evaluated.
- Strongest against peers: return on equity. At 253% (peer median 18%) it ranks 1st of 40 among financial services stocks this site tracks.
- Weakest against peers: dividend yield. At 0.52% (peer median 1.45%) it ranks 33rd of 34 among financial services stocks this site tracks.
Frequently asked questions about Visa and Mastercard
Which is cheaper, Visa or Mastercard?
On trailing earnings, they are priced about the same: Visa trades at 35.1 times and Mastercard at 33.7 times. On free cash flow, the yields are 2.8% and 2.7%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Visa or Mastercard?
Their yields are about the same: Visa 0.6% and Mastercard 0.5% over the last year.
Which has grown faster, Visa or Mastercard?
Over their latest filed five years, Visa grew revenue 12.9% a year and Mastercard 16.5%; earnings per share grew 15.8% and 21.0% a year.
Which has more debt, Visa or Mastercard?
Mastercard has more debt for its equity: debt to equity is 0.61 for Visa and 3.54 for Mastercard. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, Visa or Mastercard?
Visa keeps more of each sales dollar as profit: 50.8% for Visa and 46.7% for Mastercard, with a return on equity of 61.3% and 252.9%.
Which passes more of the 8 value filters?
Both clear 2 of the 8. The filters are this site's own value rules, shown with each stock's page.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Visa and Mastercard). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.