Mastercard Inc. (MA) Stock Inflation-Adjusted

Mastercard Inc. (MA) is a global technology company in the payments industry that connects consumers, financial institutions, merchants, governments and businesses worldwide through its payment processing network.

Nominal stock prices can be misleading because they don't reflect an investment's real growth in purchasing power. To provide a more accurate analysis, this page adjusts Mastercard's historical stock prices using the US Consumer Price Index. The charts and data below let you compare the nominal price against its real value, offering a clearer picture of the company's long-term performance.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use July 2026 as the baseline (latest available CPI).

The current value of Mastercard stock is 567.5 (as of the close of Sep 9, 2026), 5.39% lower than the all-time high of 599.86 (Aug 24, 2026).

While the nominal high reached 599.86, the inflation-adjusted peak value was 613.52 on August 22, 2025.

Since May 25, 2006, the inflation-adjusted total return for the stock has been 8,171%, which is equivalent to an annual growth rate of 24.31%.

In nominal values, the total return since this date has been 13,539%, or an annualized rate of 27.41%.

Inflation-Adjusted Values by Month

This data presents Mastercard's end-of-month closing levels over time. The inflation-adjusted column shows what each past level would represent in roughly today's dollars based on the latest CPI reading, following the same present-value method that underlies the US Inflation Calculator. The newest row will show matching nominal and adjusted values until another CPI update becomes available.

Date	Inflation-Adjusted	Nominal value
Sep 2026	567.5	567.5
Aug 2026	589.31	589.31
Jul 2026	573.1	573.1
Jun 2026	512.69	512.74
May 2026	491.38	493.15
Apr 2026	503.43	502.08
Mar 2026	503.56	497.97
Feb 2026	526.71	515.46
Jan 2026	551.28	536.97
Dec 2025	585.39	568.1
Nov 2025	564.4	547.85
Oct 2025	549.3	549.3
Sep 2025	581.16	565.29
Aug 2025	609.76	591.61
Jul 2025	581.91	562.97
Jun 2025	577.35	557.71
May 2025	603.71	581.19
Apr 2025	566.19	543.94
Mar 2025	567.2	543.22
Feb 2025	597.71	571.16
Jan 2025	578.62	550.46
Dec 2024	551.33	521.1
Nov 2024	558.2	527.4
Oct 2024	522.99	494.4
Sep 2024	516.83	488.02
Aug 2024	506.7	477.68
Jul 2024	486.51	458.28
Jun 2024	462.71	435.35
May 2024	469.07	441.18
Apr 2024	474.19	445.26
Mar 2024	507.37	474.57
Feb 2024	503.43	467.86
Jan 2024	479.31	442.7
Dec 2023	456.83	419.65
Nov 2023	442.8	407.18
Oct 2023	401.89	370.3
Sep 2023	422	388.98
Aug 2023	440.93	405.42
Jul 2023	423.15	387.38
Jun 2023	422.29	385.86
May 2023	393.19	358.11
Apr 2023	410.39	372.84
Mar 2023	393.81	355.98
Feb 2023	386.29	348.02
Jan 2023	405.18	363.02
Dec 2022	382.6	340.07
Nov 2022	390.94	348.55
Oct 2022	359.62	320.95
Sep 2022	312.34	277.63
Aug 2022	357.08	316.71
Jul 2022	389.32	345.44
Jun 2022	346.6	307.56
May 2022	398.57	348.89
Apr 2022	409.16	354.26
Mar 2022	404.1	347.93
Feb 2022	413.43	351.28
Jan 2022	446.76	376.16
Dec 2021	418.42	349.36
Nov 2021	367.85	306.19
Oct 2021	393.83	326.22
Sep 2021	410.98	337.61
Aug 2021	410.38	336.21
Jul 2021	458.39	374.77
Jun 2021	435.2	354.1
May 2021	433.82	349.73
Apr 2021	463.34	370.56
Mar 2021	434.83	344.93
Feb 2021	435.21	342.8
Jan 2021	391.14	306.41
Dec 2020	442.73	345.35
Nov 2020	417.78	325.58
Oct 2020	358.13	279.27
Sep 2020	419.27	326.81
Aug 2020	444.71	346.16
Jul 2020	384.26	298.17
Jun 2020	369.65	285.39
May 2020	378.2	290.4
Apr 2020	345.63	265.38
Mar 2020	301.14	232.78
Feb 2020	361.05	279.69
Jan 2020	394.08	304.45
Dec 2019	373.39	287.35
Nov 2019	365.1	281.23
Oct 2019	345.65	266.39
Sep 2019	339.47	261.03
Aug 2019	352	270.45
Jul 2019	340.6	261.7
Jun 2019	331.07	253.95
May 2019	314.81	241.44
Apr 2019	318.93	244.08
Mar 2019	296.51	225.72
Feb 2019	284.65	215.48
Jan 2019	268.51	202.41
Dec 2018	239.96	180.54
Nov 2018	254.95	192.43
Oct 2018	249.8	189.18
Sep 2018	281.48	212.8
Aug 2018	272.89	206.06
Jul 2018	250.8	189.27
Jun 2018	248.63	187.62
May 2018	240.91	181.51
Apr 2018	226.84	170.2
Mar 2018	223.45	166.99
Feb 2018	224.72	167.56
Jan 2018	217.06	161.12
Dec 2017	195.15	144.08
Nov 2017	193.89	143.23
Oct 2017	191.7	141.61
Sep 2017	181.55	134.2
Aug 2017	172.3	126.69
Jul 2017	165.69	121.46
Jun 2017	157.06	115.22
May 2017	159.05	116.57
Apr 2017	150.69	110.35
Mar 2017	145.85	106.49
Feb 2017	143.36	104.59
Jan 2017	138.43	100.68
Dec 2016	134.93	97.56
Nov 2016	133.6	96.57
Oct 2016	139.68	101.12
Sep 2016	132.75	95.98
Aug 2016	126.35	91.13
Jul 2016	124.64	89.82
Jun 2016	114.81	82.87
May 2016	125.45	90.25
Apr 2016	127.38	91.27
Mar 2016	124.45	88.75
Feb 2016	114.96	81.63
Jan 2016	117.85	83.61
Dec 2015	128.83	91.26
Nov 2015	129.13	91.78
Oct 2015	130.27	92.78
Sep 2015	118.34	84.33
Aug 2015	121.1	86.43
Jul 2015	127.52	91.14
Jun 2015	122.19	87.32
May 2015	121.01	86.18
Apr 2015	118.93	84.27
Mar 2015	113.92	80.55
Feb 2015	119.55	84.04
Jan 2015	109.28	76.49
Dec 2014	114.03	80.18
Nov 2014	114.87	81.23
Oct 2014	109.61	77.94
Sep 2014	96.36	68.69
Aug 2014	98.9	70.45
Jul 2014	96.57	68.9
Jun 2014	95.51	68.17
May 2014	99.57	70.94
Apr 2014	96.13	68.25
Mar 2014	97.8	69.21
Feb 2014	102.41	72.01
Jan 2014	100.1	70.12
Dec 2013	110.76	77.3
Nov 2013	100.86	70.4
Oct 2013	94.87	66.35
Sep 2013	88.7	62.2
Aug 2013	80	56.03
Jul 2013	80.69	56.45
Jun 2013	75.87	53.06
May 2013	75.49	52.66
Apr 2013	73.33	51.06
Mar 2013	71.61	49.92
Feb 2013	68.7	47.77
Jan 2013	69.34	47.82
Dec 2012	65.87	45.29
Nov 2012	65.35	45.05
Oct 2012	61.34	42.49
Sep 2012	60.02	41.6
Aug 2012	56.48	38.96
Jul 2012	58.63	40.22
Jun 2012	57.62	39.6
May 2012	54.38	37.43
Apr 2012	60.43	41.64
Mar 2012	56.33	38.69
Feb 2012	56.68	38.64
Jan 2012	48.2	32.72
Dec 2011	50.74	34.29
Nov 2011	50.85	34.45
Oct 2011	47.1	31.94
Sep 2011	42.91	29.16
Aug 2011	44.67	30.31
Jul 2011	41.2	27.88
Jun 2011	40.96	27.69
May 2011	38.98	26.37
Apr 2011	37.64	25.35
Mar 2011	34.54	23.12
Feb 2011	33.33	22.09
Jan 2011	32.93	21.72
Dec 2010	31.33	20.57
Nov 2010	33.2	21.75
Oct 2010	33.64	22.03
Sep 2010	31.4	20.54
Aug 2010	27.82	18.19
Jul 2010	29.5	19.26
Jun 2010	28.01	18.28
May 2010	28.3	18.49
Apr 2010	34.82	22.73
Mar 2010	35.69	23.26
Feb 2010	31.66	20.55
Jan 2010	35.27	22.89
Dec 2009	36.23	23.43
Nov 2009	34.03	22.05
Oct 2009	30.97	20.05
Sep 2009	28.59	18.49
Aug 2009	28.67	18.53
Jul 2009	27.52	17.75
Jun 2009	23.67	15.29
May 2009	25.16	16.11
Apr 2009	26.25	16.76
Mar 2009	24	15.29
Feb 2009	22.7	14.43
Jan 2009	19.6	12.4
Dec 2008	20.71	13.04
Nov 2008	20.83	13.25
Oct 2008	20.79	13.48
Sep 2008	24.66	16.16
Aug 2008	33.69	22.1
Jul 2008	33.77	22.25
Jun 2008	36.9	24.18
May 2008	43.33	28.11
Apr 2008	39.38	25.33
Mar 2008	31.74	20.3
Feb 2008	27.28	17.29
Jan 2008	29.8	18.84
Dec 2007	31.12	19.57
Nov 2007	28.99	18.25
Oct 2007	27.6	17.27
Sep 2007	21.53	13.44
Aug 2007	19.99	12.45
Jul 2007	23.42	14.61
Jun 2007	24.15	15.07
May 2007	21.8	13.58
Apr 2007	16.38	10.14
Mar 2007	15.66	9.63
Feb 2007	15.94	9.72
Jan 2007	16.68	10.11
Dec 2006	14.76	8.92
Nov 2006	15.27	9.22
Oct 2006	11.11	6.71
Sep 2006	10.47	6.36
Aug 2006	8.28	5.06
Jul 2006	6.81	4.15
Jun 2006	7.15	4.34
May 2006	6.7	4.07

Returns from Investing in Mastercard stock

How much did an investment in Mastercard really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for Mastercard stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2021.

Year	Inflation-Adjusted Return	Nominal Return
2024	20.69%	24.17%
2023	19.4%	23.4%
2022	-8.56%	-2.66%
2021	-5.49%	1.16%
2020	18.57%	20.19%
2019	55.6%	59.16%
2018	22.96%	25.31%
2017	44.63%	47.68%
2016	4.73%	6.91%
2015	12.99%	13.81%
2014	2.95%	3.72%
2013	68.15%	70.68%
2012	29.83%	32.09%
2011	61.92%	66.72%
2010	-13.52%	-12.22%
2009	74.96%	79.72%
2008	-33.45%	-33.39%
2007	110.8%	119.4%

Mastercard Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for Mastercard over various trailing periods ending July 31, 2026, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	-1.51%	1.8%
Last 3 years	10.64%	13.95%
Last 5 years	4.57%	8.87%
Last 10 years	16.48%	20.36%
Last 20 years	24.81%	27.94%

Real Returns of Investing in the Mastercard

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Mastercard five years ago yielded an 64.91% nominal gain, but the real return (the actual increase in buying power) was 33.54%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period	What $100 Grew To (Nominal)	Total Nominal Return (%)	Total Inflation-Adjusted Return (%)
Last 5 years Feb 2021 - Sep 2025	$164.91	64.91%	33.54%
Last 10 years Feb 2016 - Sep 2025	$692.48	592.48%	405.52%

Inflation in Mastercard Operations

Mastercard generally experiences low to moderate inflation impact due to its asset-light business model and network-based revenue structure.

Technology Infrastructure: Rising costs for data centers, cybersecurity systems and payment processing technology can affect operational expenses, though these represent a smaller portion of total costs compared to traditional businesses.
Personnel Costs: Wage inflation for skilled technology professionals, particularly in cybersecurity and data analytics, can increase labor expenses across global operations.
Regulatory & Compliance: Inflation in legal, regulatory and compliance costs as payment regulations evolve and require additional infrastructure investments.
Global Operations: Currency fluctuations and local inflation in international markets can impact the cost structure of regional offices and local partnerships.

Mastercard's business model provides strong protection against inflation through several mechanisms. The company earns revenue as a percentage of transaction volumes, meaning that as prices rise due to inflation, transaction values increase proportionally, naturally boosting revenue without requiring active price adjustments.

This transaction-based fee structure creates an automatic hedge against inflation, as higher prices for goods and services directly translate to higher payment processing volumes. Additionally, the company's minimal physical assets and scalable technology platform allow it to maintain margins even as operational costs rise.

About Mastercard

Mastercard Incorporated is a global payments technology company that facilitates electronic payments between consumers, merchants, financial institutions and government entities worldwide.

Founded in 1966 and headquartered in Purchase, New York, the company operates one of the world's largest payment processing networks. Mastercard does not issue cards directly but provides the technology and network that enables financial institutions to offer branded credit, debit and prepaid cards.

As a component of the S&P 500, Mastercard represents the financial technology sector in major market indices. The company processes billions of transactions annually across more than 200 countries and territories, making it a critical component of global commerce infrastructure.

Last Close Sep 9, 2026	567.5
Highest Aug 24, 2026	599.86
Highest, Inflation-Adjusted Aug 22, 2025	613.52
Annualized return Since May 25, 2006	27.41%
Annualized return, Inflation-Adjusted Since May 25, 2006	24.31%