Stock Analysis on Net

Mastercard Inc. (NYSE:MA)

Enterprise Value (EV) 

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Current Enterprise Value (EV)

Mastercard Inc., current enterprise value calculation

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Current share price (P) $336.18
No. shares of common stock outstanding 972,644,723
US$ in millions
Common equity (market value)1 326,984 
Add: Non-controlling interests (per books) 71 
Total equity 327,055 
Add: Current portion of long-term debt (per books) 792 
Add: Long-term debt, excluding current portion (per books) 13,109 
Total equity and debt 340,956 
Less: Cash and cash equivalents 7,421 
Less: Restricted cash for litigation settlement 586 
Less: Investments 473 
Less: Restricted security deposits held for customers 1,873 
Enterprise value (EV) 330,603 

Based on: 10-K (reporting date: 2021-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 336.18 × 972,644,723


Historical Enterprise Value (EV)

Mastercard Inc., EV calculation

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Share price1, 2 $369.77 $341.00 $340.95 $220.54 $172.52
No. shares of common stock outstanding1 977,476,439 993,362,338 1,005,108,964 1,025,909,048 1,051,384,936
US$ in millions
Common equity (market value)3 361,441  338,737  342,692  226,254  181,385 
Add: Non-controlling interests (book value) 71  97  24  23  29 
Total equity 361,512  338,834  342,716  226,277  181,414 
Add: Current portion of long-term debt (book value) 792  649  —  500  — 
Add: Long-term debt, excluding current portion (book value) 13,109  12,023  8,527  5,834  5,424 
Total equity and debt 375,413  351,506  351,243  232,611  186,838 
Less: Cash and cash equivalents 7,421  10,113  6,988  6,682  5,933 
Less: Restricted cash for litigation settlement 586  586  584  553  546 
Less: Investments 473  483  688  1,696  1,849 
Less: Restricted security deposits held for customers 1,873  1,696  1,370  1,080  1,085 
Enterprise value (EV) 365,060  338,628  341,613  222,600  177,425 

Based on: 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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Mastercard Inc. Annual Report.

3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 369.77 × 977,476,439

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Mastercard Inc. EV decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.