Price to Sales (P/S)
since 2006
Calculation
Mastercard Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net revenue1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2023 | 15.86 | = | 369.96 | ÷ | 23.33 | 23.33 | = | 22,237 | ÷ | 953,242,534 | |
| Feb 11, 2022 | 19.14 | = | 369.77 | ÷ | 19.32 | 19.32 | = | 18,884 | ÷ | 977,476,439 | |
| Feb 12, 2021 | 22.14 | = | 341.00 | ÷ | 15.40 | 15.40 | = | 15,301 | ÷ | 993,362,338 | |
| Feb 14, 2020 | 20.30 | = | 340.95 | ÷ | 16.80 | 16.80 | = | 16,883 | ÷ | 1,005,108,964 | |
| Feb 13, 2019 | 15.13 | = | 220.54 | ÷ | 14.57 | 14.57 | = | 14,950 | ÷ | 1,025,909,048 | |
| Feb 14, 2018 | 14.51 | = | 172.52 | ÷ | 11.89 | 11.89 | = | 12,497 | ÷ | 1,051,384,936 | |
| Feb 15, 2017 | 10.97 | = | 109.66 | ÷ | 10.00 | 10.00 | = | 10,776 | ÷ | 1,077,919,768 | |
| Feb 12, 2016 | 9.75 | = | 84.89 | ÷ | 8.70 | 8.70 | = | 9,667 | ÷ | 1,110,738,748 | |
| Feb 13, 2015 | 10.56 | = | 87.14 | ÷ | 8.25 | 8.25 | = | 9,473 | ÷ | 1,148,452,950 | |
| Feb 14, 2014 | 11.00 | = | 77.39 | ÷ | 7.03 | 7.03 | = | 8,346 | ÷ | 1,186,540,730 | |
| Feb 14, 2013 | 8.67 | = | 52.22 | ÷ | 6.02 | 6.02 | = | 7,391 | ÷ | 1,227,706,140 | |
| Feb 16, 2012 | 7.41 | = | 39.32 | ÷ | 5.31 | 5.31 | = | 6,714 | ÷ | 1,265,112,800 | |
| Feb 24, 2011 | 5.76 | = | 24.42 | ÷ | 4.24 | 4.24 | = | 5,539 | ÷ | 1,305,964,320 | |
| Feb 18, 2010 | 5.68 | = | 22.20 | ÷ | 3.91 | 3.91 | = | 5,099 | ÷ | 1,304,210,450 | |
| Feb 19, 2009 | 4.01 | = | 15.46 | ÷ | 3.86 | 3.86 | = | 4,992 | ÷ | 1,293,647,390 | |
| Feb 21, 2008 | 6.59 | = | 20.45 | ÷ | 3.10 | 3.10 | = | 4,068 | ÷ | 1,311,309,130 | |
| Feb 28, 2007 | 4.35 | = | 10.72 | ÷ | 2.46 | 2.46 | = | 3,326 | ÷ | 1,350,846,950 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Mastercard Inc. Annual Report.
The data indicates a general upward trend in the share price over the analyzed period. Starting at $10.72 in early 2007, the share price experienced fluctuations but largely increased, reaching a peak of approximately $370 by 2023. Notable increments occurred especially after 2013, where the price more than quadrupled, reflecting strong market confidence or growth prospects.
The sales per share metric exhibits steady and consistent growth over the same timeframe. From $2.46 in 2007, it increased almost tenfold to $23.33 by 2023. This steady increase illustrates ongoing revenue growth relative to the shares outstanding, suggesting operational expansion or improving margins.
- Price-to-Sales (P/S) Ratio
- The P/S ratio demonstrates variability with an overall increasing trend until reaching a high point around 2021, followed by a decline. Starting at 4.35 in 2007, the ratio fluctuated, with dips observed in 2009 and 2016, corresponding with market or company-specific factors affecting valuation. The ratio peaked at over 22 in 2021, indicating heightened investor willingness to pay a premium for each unit of sales, possibly reflecting growth expectations or reduced risk perception. However, a decrease to 15.86 by 2023 suggests some market reassessment or normalization of valuation metrics.
In summary, the steady rise in sales per share alongside rising share prices illustrates sustained operational growth paired with increasing investor confidence. The P/S ratio's fluctuations indicate varying market sentiment and valuation adjustment through the period, with a notable premium valuation in the later years, partially moderating by 2023.
Comparison to Competitors
Mastercard Inc., P/S, long-term trends, comparison to competitors
| Mastercard Inc. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Fair Isaac Corp. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2023 | 15.86 | 2.56 | 8.95 | 14.23 | 30.15 | 8.05 | 1.94 | 9.30 | 10.40 | 4.25 | 9.34 | 9.62 | 7.40 | 12.75 | 10.03 | 11.19 |
| Feb 11, 2022 | 19.14 | 4.28 | 14.94 | 12.55 | 48.70 | 8.08 | 1.94 | 16.09 | 12.81 | 5.38 | 15.58 | 10.72 | 9.24 | 19.02 | 13.22 | 13.95 |
| Feb 12, 2021 | 22.14 | 3.26 | 17.04 | 13.85 | 22.79 | 10.38 | 1.47 | 11.78 | 10.85 | 4.33 | 39.86 | 6.66 | 8.88 | 25.66 | 10.08 | 10.65 |
| Feb 14, 2020 | 20.30 | 2.72 | 15.11 | 8.56 | — | 8.28 | 1.63 | 11.05 | 8.38 | 4.74 | — | 7.06 | 9.00 | 19.36 | 6.27 | 14.75 |
| Feb 13, 2019 | 15.13 | 2.35 | 13.23 | 7.53 | — | 5.51 | 1.56 | 9.52 | 7.51 | 4.41 | — | 9.75 | 8.89 | 16.63 | 4.10 | 13.73 |
| Feb 14, 2018 | 14.51 | 2.45 | 13.32 | 5.85 | — | 4.95 | 1.82 | 6.99 | 6.19 | 5.56 | — | 7.49 | 6.96 | 14.55 | 4.80 | 11.06 |
| Feb 15, 2017 | 10.97 | 2.13 | 9.34 | 4.53 | — | 3.97 | 2.12 | 6.17 | 5.13 | 4.45 | — | 9.69 | 7.09 | 10.50 | 3.71 | 12.08 |
| Feb 12, 2016 | 9.75 | 2.11 | 9.27 | 3.73 | — | 3.23 | 1.56 | 5.56 | 3.99 | 4.66 | — | 16.88 | 7.82 | 8.69 | 3.07 | 19.97 |
| Feb 13, 2015 | 10.56 | 1.61 | 8.59 | 3.42 | — | 2.88 | 1.76 | 5.32 | 4.10 | 4.67 | — | 13.17 | 9.54 | 16.81 | 3.15 | 35.87 |
| Feb 14, 2014 | 11.00 | 1.64 | 7.45 | 2.96 | — | 2.64 | 1.91 | 4.47 | 3.41 | 3.75 | — | 8.38 | 8.92 | 22.61 | 3.12 | 37.91 |
| Feb 14, 2013 | 8.67 | 1.54 | 4.30 | 3.02 | — | 2.13 | 2.12 | 4.27 | 3.32 | 3.66 | — | 17.50 | 8.91 | 19.84 | 2.76 | — |
| Feb 16, 2012 | 7.41 | 1.47 | 3.65 | 2.81 | — | 1.98 | 2.15 | 3.71 | 3.32 | 4.60 | — | — | 9.79 | — | 2.52 | — |
| Feb 24, 2011 | 5.76 | 1.36 | 4.50 | 2.76 | — | 1.55 | 1.98 | 4.12 | 3.57 | 4.04 | — | — | 7.35 | — | 2.93 | — |
| Feb 18, 2010 | 5.68 | 1.20 | 6.12 | 1.81 | — | 1.48 | 1.72 | 2.81 | 3.63 | 4.63 | — | — | 3.52 | — | 2.33 | — |
| Feb 19, 2009 | 4.01 | 0.92 | 2.88 | 1.01 | — | 0.88 | 1.12 | 3.21 | 3.89 | 4.79 | — | — | 9.52 | — | 1.93 | — |
| Feb 21, 2008 | 6.59 | 1.41 | 6.24 | 1.91 | — | 2.31 | 1.60 | 3.61 | 20.52 | 5.60 | — | — | 9.94 | — | 3.16 | — |
| Feb 28, 2007 | 4.35 | 1.44 | 8.78 | 3.95 | — | 2.90 | 1.55 | 4.87 | 17.98 | 5.51 | — | — | 13.93 | — | 3.54 | — |
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).
Comparison to Sector (Software & Services)
Mastercard Inc., P/S, long-term trends, comparison to sector (software & services)
| Mastercard Inc. | Software & Services | |
|---|---|---|
| Feb 14, 2023 | 15.86 | 7.46 |
| Feb 11, 2022 | 19.14 | 9.46 |
| Feb 12, 2021 | 22.14 | 7.68 |
| Feb 14, 2020 | 20.30 | 6.09 |
| Feb 13, 2019 | 15.13 | 5.24 |
| Feb 14, 2018 | 14.51 | 4.65 |
| Feb 15, 2017 | 10.97 | 3.95 |
| Feb 12, 2016 | 9.75 | 3.41 |
| Feb 13, 2015 | 10.56 | 3.34 |
| Feb 14, 2014 | 11.00 | 2.89 |
| Feb 14, 2013 | 8.67 | 2.78 |
| Feb 16, 2012 | 7.41 | 2.85 |
| Feb 24, 2011 | 5.76 | 2.72 |
| Feb 18, 2010 | 5.68 | 2.60 |
| Feb 19, 2009 | 4.01 | 2.31 |
| Feb 21, 2008 | 6.59 | 6.93 |
| Feb 28, 2007 | 4.35 | 6.18 |
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).
Comparison to Industry (Information Technology)
Mastercard Inc., P/S, long-term trends, comparison to industry (information technology)
| Mastercard Inc. | Information Technology | |
|---|---|---|
| Feb 14, 2023 | 15.86 | 6.01 |
| Feb 11, 2022 | 19.14 | 6.97 |
| Feb 12, 2021 | 22.14 | 6.11 |
| Feb 14, 2020 | 20.30 | 4.61 |
| Feb 13, 2019 | 15.13 | 4.31 |
| Feb 14, 2018 | 14.51 | 4.19 |
| Feb 15, 2017 | 10.97 | 3.47 |
| Feb 12, 2016 | 9.75 | 3.04 |
| Feb 13, 2015 | 10.56 | 3.32 |
| Feb 14, 2014 | 11.00 | 2.86 |
| Feb 14, 2013 | 8.67 | 2.88 |
| Feb 16, 2012 | 7.41 | 2.84 |
| Feb 24, 2011 | 5.76 | 3.03 |
| Feb 18, 2010 | 5.68 | 3.11 |
| Feb 19, 2009 | 4.01 | 2.38 |
| Feb 21, 2008 | 6.59 | 5.73 |
| Feb 28, 2007 | 4.35 | 5.18 |
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).