Filing Flows › Mastercard (MA) › Q3 2026 › vs Q3 2025
Mastercard (MA) Q3 2026 vs Q3 2025 (year over year)
Mastercard's revenue rose $1.2B (+14%) from $8.6B in Q3 2025 to $9.8B in Q3 2026. The biggest changes: Value-added services and solutions +$635M (+19%); Payment network +$570M (+11%). Operating margin 59.8% against 58.8% (+0.9 pts).
Mastercard, Q3 2026: revenue $9.8B (+14% year over year), operating margin 59.8%, net earnings $4.6B, operating cash flow $5.1B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 59.8% | 58.8% | +0.9 pts |
| Net margin | 47.2% | 45.7% | +1.5 pts |
| Free cash flow margin | 49.6% | 63.8% | -14.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Payment network | $5.7B | $5.2B | $570M | +11% |
| Value-added services and solutions | $4.1B | $3.4B | $635M | +19% |
| Revenue | $9.8B | $8.6B | $1.2B | +14% |
| Operating profit | $5.9B | $5.1B | $801M | +16% |
| Costs & expenses | $3.9B | $3.5B | $404M | +11% |
| Pre-tax earnings | $5.7B | $5.0B | $742M | +15% |
| Other expense, net | $121M | $62.0M | $59.0M | +95% |
| Sales & marketing | $252M | $245M | $7.0M | +3% |
| General & admin | $3.3B | $2.9B | $370M | +13% |
| Other operating costs | $400M | $373M | $27.0M | +7% |
| Net earnings | $4.6B | $3.9B | $701M | +18% |
| Income tax | $1.1B | $1.1B | $41.0M | +4% |
| Depreciation & amortization | $326M | $290M | $36.0M | +12% |
| Share-based compensation | $199M | $177M | $22.0M | +12% |
| Working capital & other | $66.0M | −$1.3B | $1.3B | — |
| Operating cash flow | $5.1B | $5.7B | −$576M | -10% |
| Free cash flow (OCF − capex) | $4.9B | $5.5B | −$620M | -11% |
| Capital expenditures | $222M | $178M | $44.0M | +25% |
Questions
How much did Mastercard's revenue grow year over year in Q3 2026?
Mastercard's revenue rose $1.2B (+14%) from $8.6B in Q3 2025 to $9.8B in Q3 2026.
What drove Mastercard's revenue change in Q3 2026?
Value-added services and solutions +$635M (+19%); Payment network +$570M (+11%).