Operating Profit Margin
since 2006
Calculation
Mastercard Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Net revenue1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 55.15% | = | 100 | × | 12,264) | ÷ | 22,237) |
| Dec 31, 2021 | 53.39% | = | 100 | × | 10,082) | ÷ | 18,884) |
| Dec 31, 2020 | 52.81% | = | 100 | × | 8,081) | ÷ | 15,301) |
| Dec 31, 2019 | 57.24% | = | 100 | × | 9,664) | ÷ | 16,883) |
| Dec 31, 2018 | 48.71% | = | 100 | × | 7,282) | ÷ | 14,950) |
| Dec 31, 2017 | 52.99% | = | 100 | × | 6,622) | ÷ | 12,497) |
| Dec 31, 2016 | 53.46% | = | 100 | × | 5,761) | ÷ | 10,776) |
| Dec 31, 2015 | 52.53% | = | 100 | × | 5,078) | ÷ | 9,667) |
| Dec 31, 2014 | 53.90% | = | 100 | × | 5,106) | ÷ | 9,473) |
| Dec 31, 2013 | 53.95% | = | 100 | × | 4,503) | ÷ | 8,346) |
| Dec 31, 2012 | 53.27% | = | 100 | × | 3,937) | ÷ | 7,391) |
| Dec 31, 2011 | 40.41% | = | 100 | × | 2,713) | ÷ | 6,714) |
| Dec 31, 2010 | 49.68% | = | 100 | × | 2,752) | ÷ | 5,539) |
| Dec 31, 2009 | 44.33% | = | 100 | × | 2,260) | ÷ | 5,099) |
| Dec 31, 2008 | -10.71% | = | 100 | × | (535) | ÷ | 4,992) |
| Dec 31, 2007 | 27.24% | = | 100 | × | 1,108) | ÷ | 4,068) |
| Dec 31, 2006 | 6.90% | = | 100 | × | 229) | ÷ | 3,326) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31).
1 US$ in millions
The operating profit margin exhibits a trajectory of significant expansion and long-term stabilization between 2006 and 2022. While net revenue grew steadily from US$ 3,326 million to US$ 22,237 million over the period, operating income experienced a more dramatic increase, rising from US$ 229 million to US$ 12,264 million, reflecting a substantial increase in operational efficiency.
- Early Period Volatility (2006–2009)
- A phase of extreme fluctuation is observed during the initial years. The operating profit margin rose from 6.90% in 2006 to 27.24% in 2007, before collapsing to -10.71% in 2008. A sharp recovery followed in 2009, with the margin ascending to 44.33%, marking a pivot toward a high-margin operating model.
- Margin Stabilization and Consolidation (2010–2017)
- From 2010 onward, the operating profit margin entered a period of relative stability, consistently remaining above 40%. Between 2012 and 2017, the margin hovered primarily between 52% and 54%, indicating a mature cost structure where operating expenses grew at a slower rate than net revenue.
- Recent Trends and Resilience (2018–2022)
- The most recent five-year window shows continued resilience despite intermittent fluctuations. A dip to 48.71% in 2018 was followed by a period peak of 57.24% in 2019. Although the margin contracted to 52.81% in 2020, a recovery trend is evident, ending the period at 55.15% in 2022.
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Comparison to Competitors
Mastercard Inc., operating profit margin, long-term trends, comparison to competitors
| Mastercard Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 55.15% | 15.21% | 34.64% | -1.70% | 30.15% | -3.50% | 20.20% | 42.06% | 25.74% | -8.46% | -3.43% | 2.07% | 4.90% | 22.87% | -2.27% |
| Dec 31, 2021 | 53.39% | 15.08% | 36.76% | 5.37% | 26.07% | -1.86% | 25.95% | 41.59% | 37.58% | -26.66% | -7.15% | 2.14% | 4.36% | 17.48% | -5.76% |
| Dec 31, 2020 | 52.81% | 14.69% | 32.93% | — | 24.06% | -2.28% | 28.34% | 37.03% | 35.57% | -107.41% | -5.25% | 1.74% | 4.40% | 16.83% | -13.85% |
| Dec 31, 2019 | 57.24% | 14.59% | 29.25% | — | 21.05% | -5.55% | 27.33% | 34.14% | 34.26% | — | -1.87% | 4.03% | 1.22% | 15.48% | -16.42% |
| Dec 31, 2018 | 48.71% | 14.04% | 31.45% | — | 18.53% | — | 25.10% | 31.77% | 34.34% | — | -5.68% | 2.25% | -1.63% | 11.54% | -14.15% |
| Dec 31, 2017 | 52.99% | 12.60% | 29.69% | — | 16.67% | — | 26.95% | 24.82% | 33.69% | — | -10.21% | 0.77% | -5.25% | 12.76% | -24.00% |
| Dec 31, 2016 | 53.46% | 13.82% | 25.51% | — | 13.49% | — | 26.46% | 23.65% | 34.02% | — | -13.79% | 1.72% | -30.41% | 13.10% | -22.77% |
| Dec 31, 2015 | 52.53% | 13.48% | 18.83% | — | 16.77% | — | 17.60% | 19.41% | 36.29% | — | -14.39% | -2.71% | -16.55% | 11.88% | -27.38% |
| Dec 31, 2014 | 53.90% | 13.49% | 9.95% | — | 13.07% | — | 29.16% | 31.97% | 38.56% | — | -36.00% | -7.03% | -22.24% | 12.09% | -32.69% |
| Dec 31, 2013 | 53.95% | 14.27% | 10.42% | — | 12.94% | — | 29.56% | 34.38% | 39.49% | — | -4.70% | -3.63% | -15.61% | 12.56% | -43.07% |
| Dec 31, 2012 | 53.27% | 13.00% | 26.80% | — | 15.96% | — | 28.35% | 29.52% | 36.92% | — | 1.53% | -1.55% | -15.42% | 10.82% | — |
| Dec 31, 2011 | 40.41% | 12.69% | 26.07% | — | 10.47% | — | 26.15% | 38.83% | 33.78% | — | — | 5.88% | — | 13.86% | — |
| Dec 31, 2010 | 49.68% | 12.62% | 26.13% | — | -3.09% | — | 24.98% | 38.57% | 33.79% | — | — | 8.83% | — | 13.33% | — |
| Dec 31, 2009 | 44.33% | 11.41% | 23.44% | — | -14.50% | — | 21.43% | 34.85% | 35.79% | — | — | 5.92% | — | 15.31% | — |
| Dec 31, 2008 | -10.71% | 11.90% | 28.72% | — | -151.48% | — | 21.19% | 37.23% | 34.97% | — | — | 2.71% | — | 16.39% | — |
| Dec 31, 2007 | 27.24% | 11.62% | 27.16% | — | 19.68% | — | 23.85% | 36.23% | 33.20% | — | — | -0.72% | — | 9.74% | — |
| Dec 31, 2006 | 6.90% | 10.10% | 21.41% | — | 15.14% | — | 23.89% | 37.20% | 32.93% | — | — | 6.49% | — | 2.69% | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31).