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Side-by-side financial comparison of ALERUS FINANCIAL CORP (ALRS) and Mastercard (MA), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Mastercard is the larger business by last-quarter revenue ($8.8B vs $45.2M, roughly 194.9× ALERUS FINANCIAL CORP). Mastercard runs the higher net margin — -73.2% vs 46.1%, a 119.3% gap on every dollar of revenue. On growth, ALERUS FINANCIAL CORP posted the faster year-over-year revenue change (18.0% vs 17.6%). Mastercard produced more free cash flow last quarter ($4.9B vs $15.3M). Over the past eight quarters, ALERUS FINANCIAL CORP's revenue compounded faster (42.6% CAGR vs 17.8%).
Alerus Financial Corporation, marketed as simply Alerus, is a chain of financial institutions headquartered in Grand Forks, North Dakota, with locations in North Dakota, Minnesota, Wisconsin, and Arizona. Alerus offers banking, mortgage, wealth management, and retirement services.
Mastercard Inc. is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
ALRS vs MA — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $45.2M | $8.8B |
| Net Profit | $-33.1M | $4.1B |
| Gross Margin | — | — |
| Operating Margin | -96.0% | 55.8% |
| Net Margin | -73.2% | 46.1% |
| Revenue YoY | 18.0% | 17.6% |
| Net Profit YoY | -49232.8% | 21.5% |
| EPS (diluted) | $-1.27 | $4.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $45.2M | $8.8B | ||
| Q3 25 | $43.1M | $8.6B | ||
| Q2 25 | $43.0M | $8.1B | ||
| Q1 25 | $41.2M | $7.3B | ||
| Q4 24 | $38.3M | $7.5B | ||
| Q3 24 | $22.5M | $7.4B | ||
| Q2 24 | $24.0M | $7.0B | ||
| Q1 24 | $22.2M | $6.3B |
| Q4 25 | $-33.1M | $4.1B | ||
| Q3 25 | $16.9M | $3.9B | ||
| Q2 25 | $20.3M | $3.7B | ||
| Q1 25 | $13.3M | $3.3B | ||
| Q4 24 | $-67.0K | $3.3B | ||
| Q3 24 | $5.2M | $3.3B | ||
| Q2 24 | $6.2M | $3.3B | ||
| Q1 24 | $6.4M | $3.0B |
| Q4 25 | -96.0% | 55.8% | ||
| Q3 25 | 51.1% | 58.8% | ||
| Q2 25 | 61.2% | 58.7% | ||
| Q1 25 | 42.7% | 57.2% | ||
| Q4 24 | -0.8% | 52.6% | ||
| Q3 24 | 30.2% | 54.3% | ||
| Q2 24 | 33.9% | 58.0% | ||
| Q1 24 | 38.4% | 56.8% |
| Q4 25 | -73.2% | 46.1% | ||
| Q3 25 | 39.2% | 45.7% | ||
| Q2 25 | 47.1% | 45.5% | ||
| Q1 25 | 32.4% | 45.2% | ||
| Q4 24 | -0.2% | 44.6% | ||
| Q3 24 | 23.1% | 44.3% | ||
| Q2 24 | 25.9% | 46.8% | ||
| Q1 24 | 28.9% | 47.4% |
| Q4 25 | $-1.27 | $4.52 | ||
| Q3 25 | $0.65 | $4.34 | ||
| Q2 25 | $0.78 | $4.07 | ||
| Q1 25 | $0.52 | $3.59 | ||
| Q4 24 | $-0.06 | $3.64 | ||
| Q3 24 | $0.26 | $3.53 | ||
| Q2 24 | $0.31 | $3.50 | ||
| Q1 24 | $0.32 | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $67.2M | $10.6B |
| Total DebtLower is stronger | $59.2M | — |
| Stockholders' EquityBook value | $564.9M | $7.7B |
| Total Assets | $5.2B | $54.2B |
| Debt / EquityLower = less leverage | 0.10× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $67.2M | $10.6B | ||
| Q3 25 | $92.0M | $10.3B | ||
| Q2 25 | $80.9M | $9.0B | ||
| Q1 25 | $83.0M | $7.6B | ||
| Q4 24 | $61.2M | $8.4B | ||
| Q3 24 | $66.0M | $11.1B | ||
| Q2 24 | $438.1M | $7.0B | ||
| Q1 24 | $545.8M | $7.3B |
| Q4 25 | $59.2M | — | ||
| Q3 25 | $59.2M | — | ||
| Q2 25 | $59.1M | — | ||
| Q1 25 | $59.1M | — | ||
| Q4 24 | $59.1M | — | ||
| Q3 24 | $59.0M | — | ||
| Q2 24 | $59.0M | — | ||
| Q1 24 | $59.0M | — |
| Q4 25 | $564.9M | $7.7B | ||
| Q3 25 | $550.7M | $7.9B | ||
| Q2 25 | $533.2M | $7.9B | ||
| Q1 25 | $514.2M | $6.7B | ||
| Q4 24 | $495.4M | $6.5B | ||
| Q3 24 | $386.5M | $7.4B | ||
| Q2 24 | $373.2M | $7.4B | ||
| Q1 24 | $371.6M | $7.2B |
| Q4 25 | $5.2B | $54.2B | ||
| Q3 25 | $5.3B | $53.3B | ||
| Q2 25 | $5.3B | $51.4B | ||
| Q1 25 | $5.3B | $48.5B | ||
| Q4 24 | $5.3B | $48.1B | ||
| Q3 24 | $4.4B | $47.2B | ||
| Q2 24 | $4.4B | $42.3B | ||
| Q1 24 | $4.3B | $42.6B |
| Q4 25 | 0.10× | — | ||
| Q3 25 | 0.11× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 0.11× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | 0.16× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $16.3M | $5.0B |
| Free Cash FlowOCF − Capex | $15.3M | $4.9B |
| FCF MarginFCF / Revenue | 33.9% | 55.5% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.3% | 1.3% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $58.8M | $17.2B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $16.3M | $5.0B | ||
| Q3 25 | $32.8M | $5.7B | ||
| Q2 25 | $10.7M | $4.6B | ||
| Q1 25 | $7.7M | $2.4B | ||
| Q4 24 | $2.3M | $4.8B | ||
| Q3 24 | $20.2M | $5.1B | ||
| Q2 24 | $-12.5M | $3.1B | ||
| Q1 24 | $11.7M | $1.7B |
| Q4 25 | $15.3M | $4.9B | ||
| Q3 25 | $30.3M | $5.5B | ||
| Q2 25 | $7.6M | $4.6B | ||
| Q1 25 | $5.7M | $2.2B | ||
| Q4 24 | $-2.7M | $4.7B | ||
| Q3 24 | $17.4M | $5.0B | ||
| Q2 24 | $-16.1M | $3.0B | ||
| Q1 24 | $10.8M | $1.5B |
| Q4 25 | 33.9% | 55.5% | ||
| Q3 25 | 70.3% | 63.8% | ||
| Q2 25 | 17.6% | 56.1% | ||
| Q1 25 | 13.8% | 30.6% | ||
| Q4 24 | -7.1% | 63.3% | ||
| Q3 24 | 77.3% | 68.2% | ||
| Q2 24 | -67.3% | 43.4% | ||
| Q1 24 | 48.7% | 23.9% |
| Q4 25 | 2.3% | 1.3% | ||
| Q3 25 | 5.7% | 2.1% | ||
| Q2 25 | 7.3% | 0.5% | ||
| Q1 25 | 5.0% | 2.2% | ||
| Q4 24 | 13.2% | 1.3% | ||
| Q3 24 | 12.3% | 1.5% | ||
| Q2 24 | 15.4% | 1.7% | ||
| Q1 24 | 4.0% | 2.5% |
| Q4 25 | — | 1.23× | ||
| Q3 25 | 1.94× | 1.44× | ||
| Q2 25 | 0.53× | 1.24× | ||
| Q1 25 | 0.58× | 0.73× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 3.88× | 1.57× | ||
| Q2 24 | -2.01× | 0.96× | ||
| Q1 24 | 1.82× | 0.56× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
ALRS
| Other | $17.3M | 38% |
| Retirement And Benefit Services | $17.3M | 38% |
| Wealth Management | $7.4M | 16% |
| Mortgage Banking | $3.2M | 7% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
