Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over 2021–2024 Mastercard’s total assets grew from $37,669m to $48,081m (≈+27.6%), while total liabilities rose faster, from $30,257m to $41,566m (≈+37.4%). The faster liability growth compressed the company’s equity share of the balance sheet: liabilities as a percent of assets increased from ~80.3% in 2021 to ~86.5% in 2024, and the equity-to-assets ratio fell from about 19.4% to 13.5% (a drop of ~5.9 percentage points). The rising asset base suggests business expansion or increased working capital, but the heavier reliance on liabilities indicates greater leverage or increased short-term funding needs over the period. Stockholders’ equity moved unevenly: it declined sharply from $7,312m in 2021 to $6,298m in 2022 (≈-13.9%), recovered to $6,929m in 2023 (+10.0%), then fell again to $6,485m in 2024 (-6.4% year-over-year). Overall equity decreased about 11.3% from 2021 to 2024. For a payments network like Mastercard, such equity volatility can reflect a mix of retained earnings swings, capital returns (dividends/share buybacks), and accounting changes rather than operational distress; however, the trend of liabilities growing faster than assets warrants monitoring of leverage and liquidity metrics and any aggressive capital return policy. Note the 2025 row contains zeros and appears to be missing data.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.