Visa Surpasses Mastercard on Revenue Growth, but MA Still Leads on EPS
The past year has seen a notable performance gap between Mastercard and Visa stocks. While Mastercard shares fell by 2.5%, Visa rose by 5.8%. This reversal in fortune can be attributed to a shift in revenue growth trends, which previously favored Mastercard.
In the most recent two quarters, Visa's top-line growth exceeded Mastercard's, coming in at 17.1% and 14.4% respectively. This marks a significant change from mid-2025, when Mastercard consistently outgrew Visa by 2-5 percentage points per quarter.
Mastercard still holds an advantage on earnings per share growth, with a rate of 22.1% compared to Visa's 10.2%. However, the valuation gap between the two companies has narrowed, with current P/E levels standing at 30.2x for Mastercard and 29.5x for Visa.