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Side-by-side financial comparison of Alibaba Group Holding Ltd (BABA) and Mastercard (MA). Click either name above to swap in a different company.
Alibaba Group Holding Ltd is the larger business by last-quarter revenue ($38.8B vs $8.8B, roughly 4.4× Mastercard). Mastercard runs the higher net margin — 46.1% vs 5.8%, a 40.4% gap on every dollar of revenue.
Alibaba Group Holding Limited, branded as Alibaba, is a Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology. Founded on 28 June 1999 in Hangzhou, Zhejiang, the company provides consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via Chinese and global marketplaces, as well as local consumer, digital media and entertainment, logistics, and cloud computing services. It owns and operates a diverse...
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.
BABA vs MA — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $38.8B | $8.8B |
| Net Profit | $2.2B | $4.1B |
| Gross Margin | 40.2% | — |
| Operating Margin | 6.6% | 55.8% |
| Net Margin | 5.8% | 46.1% |
| Revenue YoY | — | 17.6% |
| Net Profit YoY | — | 21.5% |
| EPS (diluted) | $6.64 | $4.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $38.8B | $8.8B | ||
| Q3 25 | $34.2B | $8.6B | ||
| Q2 25 | $32.6B | $8.1B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | $38.7B | $7.5B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $6.3B |
| Q4 25 | $2.2B | $4.1B | ||
| Q3 25 | $2.9B | $3.9B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $6.8B | $3.3B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.0B |
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 6.6% | 55.8% | ||
| Q3 25 | 2.2% | 58.8% | ||
| Q2 25 | 12.0% | 58.7% | ||
| Q1 25 | — | 57.2% | ||
| Q4 24 | 14.7% | 52.6% | ||
| Q3 24 | — | 54.3% | ||
| Q2 24 | — | 58.0% | ||
| Q1 24 | — | 56.8% |
| Q4 25 | 5.8% | 46.1% | ||
| Q3 25 | 8.5% | 45.7% | ||
| Q2 25 | 5.3% | 45.5% | ||
| Q1 25 | — | 45.2% | ||
| Q4 24 | 17.5% | 44.6% | ||
| Q3 24 | — | 44.3% | ||
| Q2 24 | — | 46.8% | ||
| Q1 24 | — | 47.4% |
| Q4 25 | $6.64 | $4.52 | ||
| Q3 25 | $8.72 | $4.34 | ||
| Q2 25 | $5.20 | $4.07 | ||
| Q1 25 | — | $3.59 | ||
| Q4 24 | $20.40 | $3.64 | ||
| Q3 24 | — | $3.53 | ||
| Q2 24 | — | $3.50 | ||
| Q1 24 | — | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.3B | $10.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $148.7B | $7.7B |
| Total Assets | $268.6B | $54.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3B | $10.6B | ||
| Q3 25 | $19.0B | $10.3B | ||
| Q2 25 | $20.0B | $9.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | $22.3B | $8.4B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $7.3B |
| Q4 25 | $148.7B | $7.7B | ||
| Q3 25 | $145.0B | $7.9B | ||
| Q2 25 | $139.2B | $7.9B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | $137.2B | $6.5B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $7.4B | ||
| Q1 24 | — | $7.2B |
| Q4 25 | $268.6B | $54.2B | ||
| Q3 25 | $264.6B | $53.3B | ||
| Q2 25 | $248.6B | $51.4B | ||
| Q1 25 | — | $48.5B | ||
| Q4 24 | $254.1B | $48.1B | ||
| Q3 24 | — | $47.2B | ||
| Q2 24 | — | $42.3B | ||
| Q1 24 | — | $42.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | $5.0B |
| Free Cash FlowOCF − Capex | — | $4.9B |
| FCF MarginFCF / Revenue | — | 55.5% |
| Capex IntensityCapex / Revenue | — | 1.3% |
| Cash ConversionOCF / Net Profit | 2.31× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | — | $17.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.2B | $5.0B | ||
| Q3 25 | $1.4B | $5.7B | ||
| Q2 25 | $3.8B | $4.6B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | $9.7B | $4.8B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | — | $4.9B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | 55.5% | ||
| Q3 25 | — | 63.8% | ||
| Q2 25 | — | 56.1% | ||
| Q1 25 | — | 30.6% | ||
| Q4 24 | — | 63.3% | ||
| Q3 24 | — | 68.2% | ||
| Q2 24 | — | 43.4% | ||
| Q1 24 | — | 23.9% |
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 2.31× | 1.23× | ||
| Q3 25 | 0.49× | 1.44× | ||
| Q2 25 | 2.19× | 1.24× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | 1.43× | 1.45× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
