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Mastercard's Earnings Power Fuels Stock Surge
24 Mar
Summary
- Mastercard processed $10.6 trillion in volume in 2025.
- Its stock returned 461% over the last decade.
- Earnings per share grew 393% between 2015 and 2025.
Mastercard has delivered exceptional returns for investors over the past decade, significantly outperforming the S&P 500 index. As of March 19, 2026, the company's shares produced a total return of 461% over the preceding ten years. This remarkable performance contrasts with the S&P 500's 283% return during the same period.
The key driver behind Mastercard's success was not an expansion in its valuation multiples. Instead, the company's robust earnings growth played the primary role. Between 2015 and 2025, Mastercard's diluted earnings per share (EPS) climbed an impressive 393%. This highlights the company's strong earnings power, supported by healthy profit margins.
Mastercard continues to be a dominant force in the payments industry. In 2025, it processed a staggering $10.6 trillion in volume and maintained 3.4 billion active cards by December 31. Looking ahead, analysts project that EPS will increase at a compound annual rate of 16% over the next three years.
