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Side-by-side financial comparison of Mastercard (MA) and TJX Companies (TJX). Click either name above to swap in a different company.
TJX Companies is the larger business by last-quarter revenue ($15.1B vs $8.8B, roughly 1.7× Mastercard). Mastercard runs the higher net margin — 46.1% vs 9.5%, a 36.6% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (17.6% vs 7.5%). Mastercard produced more free cash flow last quarter ($4.9B vs $1.0B). Over the past eight quarters, Mastercard's revenue compounded faster (17.8% CAGR vs -4.0%).
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.
The TJX Companies, Inc. is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts. It was formed as a subsidiary of Zayre Corp. in 1987, and became the legal successor to Zayre Corp. following a company reorganization in 1989.
MA vs TJX — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.8B | $15.1B |
| Net Profit | $4.1B | $1.4B |
| Gross Margin | — | 32.6% |
| Operating Margin | 55.8% | — |
| Net Margin | 46.1% | 9.5% |
| Revenue YoY | 17.6% | 7.5% |
| Net Profit YoY | 21.5% | 11.2% |
| EPS (diluted) | $4.52 | $1.28 |
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 | $8.8B | $15.1B | ||
| Q3 25 | $8.6B | $14.4B | ||
| Q2 25 | $8.1B | $13.1B | ||
| Q1 25 | $7.3B | $16.4B | ||
| Q4 24 | $7.5B | $14.1B | ||
| Q3 24 | $7.4B | $13.5B | ||
| Q2 24 | $7.0B | $12.5B | ||
| Q1 24 | $6.3B | $16.4B |
| Q4 25 | $4.1B | $1.4B | ||
| Q3 25 | $3.9B | $1.2B | ||
| Q2 25 | $3.7B | $1.0B | ||
| Q1 25 | $3.3B | $1.4B | ||
| Q4 24 | $3.3B | $1.3B | ||
| Q3 24 | $3.3B | $1.1B | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.0B | $1.4B |
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 30.7% | ||
| Q2 25 | — | 29.5% | ||
| Q1 25 | — | 30.5% | ||
| Q4 24 | — | 31.6% | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 30.0% | ||
| Q1 24 | — | 29.8% |
| Q4 25 | 55.8% | — | ||
| Q3 25 | 58.8% | — | ||
| Q2 25 | 58.7% | — | ||
| Q1 25 | 57.2% | 11.6% | ||
| Q4 24 | 52.6% | 12.3% | ||
| Q3 24 | 54.3% | 10.9% | ||
| Q2 24 | 58.0% | 11.1% | ||
| Q1 24 | 56.8% | 11.2% |
| Q4 25 | 46.1% | 9.5% | ||
| Q3 25 | 45.7% | 8.6% | ||
| Q2 25 | 45.5% | 7.9% | ||
| Q1 25 | 45.2% | 8.6% | ||
| Q4 24 | 44.6% | 9.2% | ||
| Q3 24 | 44.3% | 8.2% | ||
| Q2 24 | 46.8% | 8.6% | ||
| Q1 24 | 47.4% | 8.5% |
| Q4 25 | $4.52 | $1.28 | ||
| Q3 25 | $4.34 | $1.10 | ||
| Q2 25 | $4.07 | $0.92 | ||
| Q1 25 | $3.59 | $1.23 | ||
| Q4 24 | $3.64 | $1.14 | ||
| Q3 24 | $3.53 | $0.96 | ||
| Q2 24 | $3.50 | $0.93 | ||
| Q1 24 | $3.22 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.6B | $4.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $9.4B |
| Total Assets | $54.2B | $35.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.6B | $4.6B | ||
| Q3 25 | $10.3B | $4.6B | ||
| Q2 25 | $9.0B | $4.3B | ||
| Q1 25 | $7.6B | $5.3B | ||
| Q4 24 | $8.4B | $4.7B | ||
| Q3 24 | $11.1B | $5.3B | ||
| Q2 24 | $7.0B | $5.1B | ||
| Q1 24 | $7.3B | $5.6B |
| Q4 25 | $7.7B | $9.4B | ||
| Q3 25 | $7.9B | $8.9B | ||
| Q2 25 | $7.9B | $8.5B | ||
| Q1 25 | $6.7B | $8.4B | ||
| Q4 24 | $6.5B | $8.2B | ||
| Q3 24 | $7.4B | $7.8B | ||
| Q2 24 | $7.4B | $7.5B | ||
| Q1 24 | $7.2B | $7.3B |
| Q4 25 | $54.2B | $35.2B | ||
| Q3 25 | $53.3B | $32.9B | ||
| Q2 25 | $51.4B | $31.9B | ||
| Q1 25 | $48.5B | $31.7B | ||
| Q4 24 | $48.1B | $32.4B | ||
| Q3 24 | $47.2B | $30.6B | ||
| Q2 24 | $42.3B | $29.7B | ||
| Q1 24 | $42.6B | $29.7B |
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 | $5.0B | $1.5B |
| Free Cash FlowOCF − Capex | $4.9B | $1.0B |
| FCF MarginFCF / Revenue | 55.5% | 6.6% |
| Capex IntensityCapex / Revenue | 1.3% | 3.5% |
| Cash ConversionOCF / Net Profit | 1.23× | 1.06× |
| TTM Free Cash FlowTrailing 4 quarters | $17.2B | $4.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.0B | $1.5B | ||
| Q3 25 | $5.7B | $1.8B | ||
| Q2 25 | $4.6B | $394.0M | ||
| Q1 25 | $2.4B | $2.7B | ||
| Q4 24 | $4.8B | $1.0B | ||
| Q3 24 | $5.1B | $1.6B | ||
| Q2 24 | $3.1B | $737.0M | ||
| Q1 24 | $1.7B | $2.8B |
| Q4 25 | $4.9B | $1.0B | ||
| Q3 25 | $5.5B | $1.3B | ||
| Q2 25 | $4.6B | $-103.0M | ||
| Q1 25 | $2.2B | $2.2B | ||
| Q4 24 | $4.7B | $624.0M | ||
| Q3 24 | $5.0B | $1.1B | ||
| Q2 24 | $3.0B | $318.0M | ||
| Q1 24 | $1.5B | $2.4B |
| Q4 25 | 55.5% | 6.6% | ||
| Q3 25 | 63.8% | 9.2% | ||
| Q2 25 | 56.1% | -0.8% | ||
| Q1 25 | 30.6% | 13.4% | ||
| Q4 24 | 63.3% | 4.4% | ||
| Q3 24 | 68.2% | 7.9% | ||
| Q2 24 | 43.4% | 2.5% | ||
| Q1 24 | 23.9% | 14.4% |
| Q4 25 | 1.3% | 3.5% | ||
| Q3 25 | 2.1% | 3.2% | ||
| Q2 25 | 0.5% | 3.8% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | 1.3% | 3.0% | ||
| Q3 24 | 1.5% | 4.2% | ||
| Q2 24 | 1.7% | 3.4% | ||
| Q1 24 | 2.5% | 2.7% |
| Q4 25 | 1.23× | 1.06× | ||
| Q3 25 | 1.44× | 1.44× | ||
| Q2 25 | 1.24× | 0.38× | ||
| Q1 25 | 0.73× | 1.93× | ||
| Q4 24 | 1.45× | 0.81× | ||
| Q3 24 | 1.57× | 1.48× | ||
| Q2 24 | 0.96× | 0.69× | ||
| Q1 24 | 0.56× | 2.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MA
| Payment Network | $4.9B | 56% |
| Value Added Services And Solutions | $3.9B | 44% |
TJX
| Marmaxx | $9.0B | 60% |
| Home Goods | $2.5B | 17% |
| TJX International | $2.0B | 14% |
| Tjx Canada | $1.5B | 10% |
