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Side-by-side financial comparison of Mastercard (MA) and Royal Caribbean Group (RCL). Click either name above to swap in a different company.
Mastercard is the larger business by last-quarter revenue ($8.4B vs $4.5B, roughly 1.9× Royal Caribbean Group). Mastercard runs the higher net margin — 46.4% vs 21.3%, a 25.1% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (16.0% vs 11.3%). Over the past eight quarters, Mastercard's revenue compounded faster (9.9% CAGR vs 4.1%).
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.
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
MA vs RCL — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.4B | $4.5B |
| Net Profit | $3.9B | $950.0M |
| Gross Margin | — | — |
| Operating Margin | 58.3% | 26.1% |
| Net Margin | 46.4% | 21.3% |
| Revenue YoY | 16.0% | 11.3% |
| Net Profit YoY | 18.0% | 29.1% |
| EPS (diluted) | $4.35 | $3.48 |
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.
| Q1 26 | $8.4B | $4.5B | ||
| Q4 25 | $8.8B | $4.3B | ||
| Q3 25 | $8.6B | $5.1B | ||
| Q2 25 | $8.1B | $4.5B | ||
| Q1 25 | $7.3B | $4.0B | ||
| Q4 24 | $7.5B | $3.8B | ||
| Q3 24 | $7.4B | $4.9B | ||
| Q2 24 | $7.0B | $4.1B |
| Q1 26 | $3.9B | $950.0M | ||
| Q4 25 | $4.1B | $753.0M | ||
| Q3 25 | $3.9B | $1.6B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $3.3B | $730.0M | ||
| Q4 24 | $3.3B | $552.0M | ||
| Q3 24 | $3.3B | $1.1B | ||
| Q2 24 | $3.3B | $854.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
| Q1 26 | 58.3% | 26.1% | ||
| Q4 25 | 55.8% | 21.9% | ||
| Q3 25 | 58.8% | 33.1% | ||
| Q2 25 | 58.7% | 29.3% | ||
| Q1 25 | 57.2% | 23.6% | ||
| Q4 24 | 52.6% | 16.6% | ||
| Q3 24 | 54.3% | 33.4% | ||
| Q2 24 | 58.0% | 26.7% |
| Q1 26 | 46.4% | 21.3% | ||
| Q4 25 | 46.1% | 17.7% | ||
| Q3 25 | 45.7% | 30.6% | ||
| Q2 25 | 45.5% | 26.7% | ||
| Q1 25 | 45.2% | 18.3% | ||
| Q4 24 | 44.6% | 14.7% | ||
| Q3 24 | 44.3% | 22.7% | ||
| Q2 24 | 46.8% | 20.8% |
| Q1 26 | $4.35 | $3.48 | ||
| Q4 25 | $4.52 | $2.76 | ||
| Q3 25 | $4.34 | $5.74 | ||
| Q2 25 | $4.07 | $4.41 | ||
| Q1 25 | $3.59 | $2.70 | ||
| Q4 24 | $3.64 | $2.27 | ||
| Q3 24 | $3.53 | $4.21 | ||
| Q2 24 | $3.50 | $3.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.9B | $512.0M |
| Total DebtLower is stronger | $19.0B | $21.1B |
| Stockholders' EquityBook value | $6.7B | $10.0B |
| Total Assets | $52.4B | $42.0B |
| Debt / EquityLower = less leverage | 2.82× | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $7.9B | $512.0M | ||
| Q4 25 | $10.6B | $825.0M | ||
| Q3 25 | $10.3B | $432.0M | ||
| Q2 25 | $9.0B | $735.0M | ||
| Q1 25 | $7.6B | $386.0M | ||
| Q4 24 | $8.4B | $388.0M | ||
| Q3 24 | $11.1B | $418.0M | ||
| Q2 24 | $7.0B | $391.0M |
| Q1 26 | $19.0B | $21.1B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
| Q1 26 | $6.7B | $10.0B | ||
| Q4 25 | $7.7B | $10.0B | ||
| Q3 25 | $7.9B | $10.1B | ||
| Q2 25 | $7.9B | $9.2B | ||
| Q1 25 | $6.7B | $8.0B | ||
| Q4 24 | $6.5B | $7.6B | ||
| Q3 24 | $7.4B | $7.0B | ||
| Q2 24 | $7.4B | $6.0B |
| Q1 26 | $52.4B | $42.0B | ||
| Q4 25 | $54.2B | $41.6B | ||
| Q3 25 | $53.3B | $40.1B | ||
| Q2 25 | $51.4B | $38.5B | ||
| Q1 25 | $48.5B | $37.5B | ||
| Q4 24 | $48.1B | $37.1B | ||
| Q3 24 | $47.2B | $37.1B | ||
| Q2 24 | $42.3B | $37.0B |
| Q1 26 | 2.82× | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $3.0B | $1.8B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.77× | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.0B | $1.8B | ||
| Q4 25 | $5.0B | $1.6B | ||
| Q3 25 | $5.7B | $1.5B | ||
| Q2 25 | $4.6B | $1.7B | ||
| Q1 25 | $2.4B | $1.6B | ||
| Q4 24 | $4.8B | $1.5B | ||
| Q3 24 | $5.1B | $897.0M | ||
| Q2 24 | $3.1B | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $4.9B | $116.0M | ||
| Q3 25 | $5.5B | $-989.0M | ||
| Q2 25 | $4.6B | $910.0M | ||
| Q1 25 | $2.2B | $1.2B | ||
| Q4 24 | $4.7B | $915.0M | ||
| Q3 24 | $5.0B | $563.0M | ||
| Q2 24 | $3.0B | $-567.0M |
| Q1 26 | — | — | ||
| Q4 25 | 55.5% | 2.7% | ||
| Q3 25 | 63.8% | -19.2% | ||
| Q2 25 | 56.1% | 20.1% | ||
| Q1 25 | 30.6% | 30.0% | ||
| Q4 24 | 63.3% | 24.3% | ||
| Q3 24 | 68.2% | 11.5% | ||
| Q2 24 | 43.4% | -13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 35.4% | ||
| Q3 25 | 2.1% | 47.8% | ||
| Q2 25 | 0.5% | 18.4% | ||
| Q1 25 | 2.2% | 10.7% | ||
| Q4 24 | 1.3% | 14.7% | ||
| Q3 24 | 1.5% | 6.8% | ||
| Q2 24 | 1.7% | 52.1% |
| Q1 26 | 0.77× | 1.93× | ||
| Q4 25 | 1.23× | 2.16× | ||
| Q3 25 | 1.44× | 0.93× | ||
| Q2 25 | 1.24× | 1.44× | ||
| Q1 25 | 0.73× | 2.23× | ||
| Q4 24 | 1.45× | 2.66× | ||
| Q3 24 | 1.57× | 0.81× | ||
| Q2 24 | 0.96× | 1.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MA
Segment breakdown not available.
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
