Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Mastercard Inc. (NYSE:MA)

This company has been moved to the archive! The financial data has not been updated since April 27, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Mastercard Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable 1.89 2.39 1.64 1.75 1.79 1.96 1.57 1.57 1.37 1.57 1.08 1.15 1.21 1.67 1.94 1.75 2.16 2.16 1.64 1.54 1.61
Settlement obligations 2.23 2.87 2.80 1.85 1.47 2.42 1.40 1.63 3.73 4.39 3.57 4.75 3.75 9.28 8.31 5.38 5.06 8.81 4.95 5.48 5.58
Restricted security deposits held for customers 4.13 4.05 4.07 4.47 4.66 4.97 5.17 5.17 5.05 5.05 4.96 4.82 4.95 4.69 4.51 4.29 4.44 4.34 4.43 4.41 4.21
Accrued litigation 2.84 2.83 2.89 2.55 2.14 2.23 2.37 2.60 2.42 2.51 2.53 2.66 2.78 3.13 3.61 3.78 6.70 6.40 3.94 4.22 3.61
Accrued expenses 18.77 20.15 18.31 16.87 16.02 17.63 16.84 15.94 14.94 16.17 15.86 14.10 15.26 18.77 19.19 19.21 18.41 19.09 20.33 19.66 19.62
Short-term debt 0.71 0.71 2.54 2.03 2.09 2.10 1.84 1.86 1.86 1.93 0.00 0.00 0.00 0.00 0.00 0.00 2.13 2.01 2.14 0.00 0.00
Other current liabilities 4.48 3.61 3.58 3.84 3.92 3.62 3.46 3.60 3.60 3.66 3.52 3.41 3.74 3.17 3.68 3.99 4.68 3.82 4.17 6.76 4.38
Current liabilities 35.06% 36.59% 35.83% 33.36% 32.10% 34.94% 32.65% 32.36% 32.97% 35.28% 31.52% 30.89% 31.69% 40.72% 41.24% 38.40% 43.56% 46.63% 41.60% 42.08% 39.00%
Long-term debt 39.27 35.51 36.10 37.94 37.32 34.80 37.31 37.95 37.99 35.80 39.80 38.90 40.67 29.17 29.77 31.56 24.66 23.47 25.10 26.07 28.19
Deferred income taxes 1.00 1.01 0.92 1.02 1.04 1.05 1.06 1.13 1.12 0.26 0.27 0.26 0.27 0.29 0.37 0.38 0.26 0.27 0.21 0.26 0.28
Other liabilities 10.78 10.42 10.02 10.40 10.36 9.53 9.78 9.74 9.37 9.26 9.80 9.57 9.43 9.33 9.18 8.99 9.15 7.55 7.95 7.79 7.24
Noncurrent liabilities 51.05% 46.94% 47.04% 49.36% 48.72% 45.38% 48.14% 48.82% 48.48% 45.32% 49.87% 48.73% 50.37% 38.79% 39.33% 40.94% 34.06% 31.29% 33.26% 34.12% 35.71%
Total liabilities 86.11% 83.53% 82.87% 82.72% 80.81% 80.32% 80.79% 81.18% 81.46% 80.59% 81.39% 79.62% 82.06% 79.51% 80.57% 79.34% 77.62% 77.92% 74.86% 76.19% 74.71%
Redeemable non-controlling interests 0.05 0.05 0.05 0.07 0.08 0.08 0.08 0.08 0.08 0.09 0.08 0.16 0.24 0.25 0.28 0.30 0.31 0.29 0.30 0.32 0.31
Class A common stock, $0.0001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Class B common stock, $0.0001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in-capital 13.81 13.68 14.01 14.25 13.52 13.44 14.19 14.47 14.22 14.83 15.59 15.04 15.45 16.37 18.19 18.90 19.43 18.42 19.39 19.82 19.03
Class A treasury stock, at cost -139.31 -132.62 -130.05 -130.71 -121.07 -113.06 -116.58 -113.80 -109.26 -109.15 -112.85 -104.60 -109.41 -110.16 -120.11 -119.10 -117.07 -103.58 -106.29 -105.25 -96.51
Retained earnings 142.35 138.43 137.26 136.90 128.62 121.18 123.55 119.65 115.34 115.37 118.39 112.95 115.09 116.24 124.28 123.40 122.47 109.75 114.51 111.64 103.96
Accumulated other comprehensive loss -3.16 -3.24 -4.30 -3.40 -2.15 -2.15 -2.23 -1.87 -2.12 -2.02 -2.79 -3.26 -3.52 -2.30 -3.30 -2.95 -2.86 -2.89 -2.87 -2.81 -1.63
Total Mastercard Incorporated stockholders’ equity 13.69% 16.26% 16.91% 17.03% 18.93% 19.41% 18.93% 18.45% 18.18% 19.03% 18.35% 20.14% 17.61% 20.16% 19.05% 20.25% 21.97% 21.70% 24.74% 23.39% 24.86%
Non-controlling interests 0.14 0.15 0.16 0.18 0.18 0.19 0.20 0.28 0.28 0.29 0.19 0.09 0.08 0.08 0.10 0.11 0.09 0.09 0.09 0.10 0.12
Total equity 13.83% 16.41% 17.08% 17.21% 19.11% 19.60% 19.13% 18.73% 18.46% 19.32% 18.54% 20.23% 17.69% 20.24% 19.15% 20.36% 22.07% 21.79% 24.83% 23.49% 24.98%
Total liabilities, redeemable non-controlling interests and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

A comprehensive analysis of the common-size balance sheet reveals a systemic shift in the capital structure, characterized by an increase in total liabilities and a corresponding decline in total equity as a percentage of the total balance sheet. Total liabilities rose from 74.71% in March 2018 to 86.11% by March 2023, while total equity contracted from 24.98% to 13.83% over the same period.

Liability Composition and Trends
Noncurrent liabilities have seen a substantial increase, rising from 35.71% in March 2018 to 51.05% in March 2023. This growth is primarily driven by long-term debt, which expanded from 28.19% to 39.27% of the total balance sheet. In contrast, current liabilities showed more volatility and a general downward trend, moving from 39.00% in March 2018 to 35.06% in March 2023.
Within current liabilities, accrued expenses remained a dominant component, though they fluctuated between a high of 20.33% in September 2018 and a low of 14.10% in June 2020. Settlement obligations exhibited significant volatility, peaking at 9.28% in December 2019 before stabilizing at lower levels, reaching 2.23% by March 2023.
Equity Dynamics and Capital Management
The contraction of total equity is not a result of operating losses, but rather a consequence of aggressive capital return strategies. Retained earnings as a percentage of the total balance sheet increased steadily from 103.96% in March 2018 to 142.35% in March 2023, indicating strong internal profit generation.
This growth in retained earnings was offset by an increase in treasury stock, which moved from -96.51% in March 2018 to -139.31% in March 2023. The widening negative value of treasury stock suggests that share repurchases have been a primary driver in reducing the overall equity proportion of the balance sheet.
Risk and Stability Indicators
The increasing reliance on long-term debt to fund operations or capital returns has heightened the company's leverage ratio. The shift toward noncurrent liabilities suggests a strategy of locking in longer-term financing, reducing the immediate pressure of current liability obligations.
Other stability metrics, such as restricted security deposits held for customers, remained relatively stable, oscillating between 4.05% and 5.17% throughout the period, indicating a consistent relationship between customer deposits and the total balance sheet size.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?