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Side-by-side financial comparison of Mastercard (MA) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Mastercard is the larger business by last-quarter revenue ($8.8B vs $6.3B, roughly 1.4× Block, Inc.). Mastercard runs the higher net margin — 46.1% vs 1.9%, a 44.3% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (17.6% vs 3.6%). Mastercard produced more free cash flow last quarter ($4.9B vs $579.8M). Over the past eight quarters, Mastercard's revenue compounded faster (17.8% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
MA vs XYZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.8B | $6.3B |
| Net Profit | $4.1B | $115.8M |
| Gross Margin | — | 45.9% |
| Operating Margin | 55.8% | 7.8% |
| Net Margin | 46.1% | 1.9% |
| Revenue YoY | 17.6% | 3.6% |
| Net Profit YoY | 21.5% | -94.1% |
| EPS (diluted) | $4.52 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $8.6B | $6.1B | ||
| Q2 25 | $8.1B | $6.1B | ||
| Q1 25 | $7.3B | $5.8B | ||
| Q4 24 | $7.5B | $6.0B | ||
| Q3 24 | $7.4B | $6.0B | ||
| Q2 24 | $7.0B | $6.2B | ||
| Q1 24 | $6.3B | $6.0B |
| Q4 25 | $4.1B | $115.8M | ||
| Q3 25 | $3.9B | $461.5M | ||
| Q2 25 | $3.7B | $538.5M | ||
| Q1 25 | $3.3B | $189.9M | ||
| Q4 24 | $3.3B | $1.9B | ||
| Q3 24 | $3.3B | $283.8M | ||
| Q2 24 | $3.3B | $195.3M | ||
| Q1 24 | $3.0B | $472.0M |
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 43.5% | ||
| Q2 25 | — | 41.9% | ||
| Q1 25 | — | 39.7% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 36.3% | ||
| Q1 24 | — | 35.2% |
| Q4 25 | 55.8% | 7.8% | ||
| Q3 25 | 58.8% | 6.7% | ||
| Q2 25 | 58.7% | 8.0% | ||
| Q1 25 | 57.2% | 5.7% | ||
| Q4 24 | 52.6% | 0.2% | ||
| Q3 24 | 54.3% | 5.4% | ||
| Q2 24 | 58.0% | 5.0% | ||
| Q1 24 | 56.8% | 4.2% |
| Q4 25 | 46.1% | 1.9% | ||
| Q3 25 | 45.7% | 7.5% | ||
| Q2 25 | 45.5% | 8.9% | ||
| Q1 25 | 45.2% | 3.3% | ||
| Q4 24 | 44.6% | 32.3% | ||
| Q3 24 | 44.3% | 4.7% | ||
| Q2 24 | 46.8% | 3.2% | ||
| Q1 24 | 47.4% | 7.9% |
| Q4 25 | $4.52 | $0.19 | ||
| Q3 25 | $4.34 | $0.74 | ||
| Q2 25 | $4.07 | $0.87 | ||
| Q1 25 | $3.59 | $0.30 | ||
| Q4 24 | $3.64 | $3.06 | ||
| Q3 24 | $3.53 | $0.45 | ||
| Q2 24 | $3.50 | $0.31 | ||
| Q1 24 | $3.22 | $0.74 |
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 | $6.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.7B | $22.2B |
| Total Assets | $54.2B | $39.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.6B | $6.6B | ||
| Q3 25 | $10.3B | $8.3B | ||
| Q2 25 | $9.0B | $6.4B | ||
| Q1 25 | $7.6B | $7.1B | ||
| Q4 24 | $8.4B | $8.1B | ||
| Q3 24 | $11.1B | $8.3B | ||
| Q2 24 | $7.0B | $7.8B | ||
| Q1 24 | $7.3B | $5.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $7.7B | $22.2B | ||
| Q3 25 | $7.9B | $22.5B | ||
| Q2 25 | $7.9B | $22.2B | ||
| Q1 25 | $6.7B | $21.5B | ||
| Q4 24 | $6.5B | $21.3B | ||
| Q3 24 | $7.4B | $19.9B | ||
| Q2 24 | $7.4B | $19.3B | ||
| Q1 24 | $7.2B | $19.0B |
| Q4 25 | $54.2B | $39.5B | ||
| Q3 25 | $53.3B | $39.2B | ||
| Q2 25 | $51.4B | $36.9B | ||
| Q1 25 | $48.5B | $36.4B | ||
| Q4 24 | $48.1B | $36.8B | ||
| Q3 24 | $47.2B | $36.4B | ||
| Q2 24 | $42.3B | $37.5B | ||
| Q1 24 | $42.6B | $35.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| Free Cash FlowOCF − Capex | $4.9B | $579.8M |
| FCF MarginFCF / Revenue | 55.5% | 9.3% |
| Capex IntensityCapex / Revenue | 1.3% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.23× | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | $17.2B | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.0B | $621.0M | ||
| Q3 25 | $5.7B | $1.5B | ||
| Q2 25 | $4.6B | $374.3M | ||
| Q1 25 | $2.4B | $133.3M | ||
| Q4 24 | $4.8B | $13.8M | ||
| Q3 24 | $5.1B | $684.8M | ||
| Q2 24 | $3.1B | $519.4M | ||
| Q1 24 | $1.7B | $489.4M |
| Q4 25 | $4.9B | $579.8M | ||
| Q3 25 | $5.5B | $1.4B | ||
| Q2 25 | $4.6B | $343.0M | ||
| Q1 25 | $2.2B | $101.5M | ||
| Q4 24 | $4.7B | $-13.2M | ||
| Q3 24 | $5.0B | $628.2M | ||
| Q2 24 | $3.0B | $481.0M | ||
| Q1 24 | $1.5B | $457.4M |
| Q4 25 | 55.5% | 9.3% | ||
| Q3 25 | 63.8% | 22.9% | ||
| Q2 25 | 56.1% | 5.7% | ||
| Q1 25 | 30.6% | 1.8% | ||
| Q4 24 | 63.3% | -0.2% | ||
| Q3 24 | 68.2% | 10.5% | ||
| Q2 24 | 43.4% | 7.8% | ||
| Q1 24 | 23.9% | 7.7% |
| Q4 25 | 1.3% | 0.7% | ||
| Q3 25 | 2.1% | 0.8% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 2.2% | 0.6% | ||
| Q4 24 | 1.3% | 0.4% | ||
| Q3 24 | 1.5% | 0.9% | ||
| Q2 24 | 1.7% | 0.6% | ||
| Q1 24 | 2.5% | 0.5% |
| Q4 25 | 1.23× | 5.36× | ||
| Q3 25 | 1.44× | 3.14× | ||
| Q2 25 | 1.24× | 0.70× | ||
| Q1 25 | 0.73× | 0.70× | ||
| Q4 24 | 1.45× | 0.01× | ||
| Q3 24 | 1.57× | 2.41× | ||
| Q2 24 | 0.96× | 2.66× | ||
| Q1 24 | 0.56× | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
