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 February 2026 as the baseline (latest available CPI).

The current value of Mastercard stock is 497.99 (as of the close of Mar 13, 2026), 16.62% lower than the all-time high of 597.28 (Aug 22, 2025).

Since May 25, 2006, the inflation-adjusted total return for the stock has been 7,291%, which is equivalent to an annual growth rate of 24.27%.

In nominal values, the total return since this date has been 11,828%, or an annualized rate of 27.31%.

Inflation-Adjusted Values by Month

This data presents Mastercard's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date	Inflation-Adjusted	Nominal value
Mar 2026	497.99	497.99
Feb 2026	517.21	517.21
Jan 2026	541.33	538.79
Dec 2025	574.83	570.03
Nov 2025	554.22	549.71
Oct 2025	551.16	551.16
Sep 2025	570.68	567.21
Aug 2025	598.76	593.62
Jul 2025	571.41	564.88
Jun 2025	566.93	559.6
May 2025	592.82	583.17
Apr 2025	555.97	545.78
Mar 2025	556.97	545.06
Feb 2025	586.93	573.1
Jan 2025	568.18	552.33
Dec 2024	541.38	522.86
Nov 2024	548.13	529.19
Oct 2024	513.55	496.07
Sep 2024	507.51	489.67
Aug 2024	497.56	479.3
Jul 2024	477.74	459.83
Jun 2024	454.36	436.83
May 2024	460.6	442.68
Apr 2024	465.63	446.77
Mar 2024	498.22	476.18
Feb 2024	494.35	469.45
Jan 2024	470.66	444.2
Dec 2023	448.58	421.08
Nov 2023	434.81	408.56
Oct 2023	394.64	371.55
Sep 2023	414.39	390.3
Aug 2023	432.97	406.79
Jul 2023	415.51	388.69
Jun 2023	414.67	387.17
May 2023	386.1	359.33
Apr 2023	402.99	374.1
Mar 2023	386.71	357.18
Feb 2023	379.32	349.2
Jan 2023	397.87	364.25
Dec 2022	375.7	341.22
Nov 2022	383.88	349.73
Oct 2022	353.13	322.04
Sep 2022	306.7	278.57
Aug 2022	350.63	317.79
Jul 2022	382.3	346.61
Jun 2022	340.34	308.6
May 2022	391.38	350.07
Apr 2022	401.78	355.46
Mar 2022	396.8	349.11
Feb 2022	405.97	352.47
Jan 2022	438.7	377.44
Dec 2021	410.87	350.54
Nov 2021	361.21	307.23
Oct 2021	386.73	327.32
Sep 2021	403.56	338.76
Aug 2021	402.97	337.35
Jul 2021	450.12	376.04
Jun 2021	427.35	355.3
May 2021	425.99	350.92
Apr 2021	454.98	371.82
Mar 2021	426.99	346.1
Feb 2021	427.35	343.96
Jan 2021	384.08	307.45
Dec 2020	434.74	346.52
Nov 2020	410.24	326.69
Oct 2020	351.67	280.22
Sep 2020	411.71	327.92
Aug 2020	436.69	347.33
Jul 2020	377.33	299.18
Jun 2020	362.98	286.35
May 2020	371.38	291.38
Apr 2020	339.39	266.28
Mar 2020	295.7	233.57
Feb 2020	354.53	280.64
Jan 2020	386.97	305.48
Dec 2019	366.65	288.32
Nov 2019	358.51	282.18
Oct 2019	339.42	267.29
Sep 2019	333.35	261.91
Aug 2019	345.65	271.37
Jul 2019	334.45	262.59
Jun 2019	325.09	254.82
May 2019	309.13	242.26
Apr 2019	313.17	244.9
Mar 2019	291.16	226.49
Feb 2019	279.52	216.21
Jan 2019	263.67	203.09
Dec 2018	235.64	181.16
Nov 2018	250.35	193.08
Oct 2018	245.29	189.82
Sep 2018	276.41	213.52
Aug 2018	267.96	206.76
Jul 2018	246.27	189.92
Jun 2018	244.14	188.26
May 2018	236.57	182.13
Apr 2018	222.74	170.78
Mar 2018	219.41	167.56
Feb 2018	220.66	168.13
Jan 2018	213.14	161.67
Dec 2017	191.63	144.56
Nov 2017	190.39	143.71
Oct 2017	188.25	142.09
Sep 2017	178.28	134.65
Aug 2017	169.19	127.12
Jul 2017	162.7	121.87
Jun 2017	154.23	115.61
May 2017	156.19	116.97
Apr 2017	147.97	110.72
Mar 2017	143.22	106.85
Feb 2017	140.77	104.94
Jan 2017	135.94	101.02
Dec 2016	132.49	97.89
Nov 2016	131.19	96.89
Oct 2016	137.16	101.46
Sep 2016	130.35	96.3
Aug 2016	124.07	91.44
Jul 2016	122.39	90.12
Jun 2016	112.74	83.15
May 2016	123.18	90.55
Apr 2016	125.09	91.58
Mar 2016	122.21	89.05
Feb 2016	112.89	81.91
Jan 2016	115.72	83.9
Dec 2015	126.51	91.57
Nov 2015	126.8	92.09
Oct 2015	127.92	93.1
Sep 2015	116.2	84.61
Aug 2015	118.92	86.72
Jul 2015	125.22	91.45
Jun 2015	119.98	87.62
May 2015	118.83	86.47
Apr 2015	116.78	84.55
Mar 2015	111.86	80.82
Feb 2015	117.4	84.32
Jan 2015	107.31	76.75
Dec 2014	111.97	80.45
Nov 2014	112.79	81.51
Oct 2014	107.63	78.2
Sep 2014	94.62	68.92
Aug 2014	97.12	70.69
Jul 2014	94.83	69.14
Jun 2014	93.79	68.41
May 2014	97.78	71.18
Apr 2014	94.39	68.48
Mar 2014	96.04	69.45
Feb 2014	100.57	72.25
Jan 2014	98.29	70.36
Dec 2013	108.76	77.57
Nov 2013	99.04	70.64
Oct 2013	93.16	66.58
Sep 2013	87.1	62.41
Aug 2013	78.55	56.22
Jul 2013	79.24	56.64
Jun 2013	74.5	53.24
May 2013	74.13	52.84
Apr 2013	72.01	51.24
Mar 2013	70.32	50.09
Feb 2013	67.46	47.93
Jan 2013	68.09	47.98
Dec 2012	64.68	45.45
Nov 2012	64.17	45.21
Oct 2012	60.24	42.64
Sep 2012	58.94	41.74
Aug 2012	55.46	39.1
Jul 2012	57.57	40.36
Jun 2012	56.59	39.74
May 2012	53.4	37.56
Apr 2012	59.34	41.78
Mar 2012	55.31	38.83
Feb 2012	55.66	38.78
Jan 2012	47.33	32.83
Dec 2011	49.82	34.4
Nov 2011	49.93	34.56
Oct 2011	46.25	32.04
Sep 2011	42.13	29.25
Aug 2011	43.87	30.41
Jul 2011	40.46	27.97
Jun 2011	40.22	27.78
May 2011	38.27	26.46
Apr 2011	36.96	25.44
Mar 2011	33.92	23.19
Feb 2011	32.73	22.17
Jan 2011	32.34	21.79
Dec 2010	30.77	20.64
Nov 2010	32.6	21.83
Oct 2010	33.03	22.11
Sep 2010	30.84	20.61
Aug 2010	27.32	18.25
Jul 2010	28.97	19.33
Jun 2010	27.51	18.35
May 2010	27.79	18.55
Apr 2010	34.19	22.81
Mar 2010	35.05	23.34
Feb 2010	31.09	20.62
Jan 2010	34.63	22.97
Dec 2009	35.58	23.51
Nov 2009	33.42	22.12
Oct 2009	30.41	20.12
Sep 2009	28.07	18.55
Aug 2009	28.16	18.6
Jul 2009	27.02	17.81
Jun 2009	23.24	15.34
May 2009	24.71	16.17
Apr 2009	25.78	16.82
Mar 2009	23.57	15.34
Feb 2009	22.29	14.48
Jan 2009	19.25	12.44
Dec 2008	20.33	13.08
Nov 2008	20.46	13.3
Oct 2008	20.41	13.53
Sep 2008	24.22	16.21
Aug 2008	33.08	22.18
Jul 2008	33.17	22.32
Jun 2008	36.24	24.26
May 2008	42.55	28.21
Apr 2008	38.67	25.42
Mar 2008	31.17	20.36
Feb 2008	26.78	17.35
Jan 2008	29.27	18.9
Dec 2007	30.55	19.64
Nov 2007	28.47	18.31
Oct 2007	27.11	17.33
Sep 2007	21.14	13.49
Aug 2007	19.63	12.49
Jul 2007	23	14.66
Jun 2007	23.72	15.12
May 2007	21.41	13.62
Apr 2007	16.08	10.17
Mar 2007	15.38	9.66
Feb 2007	15.65	9.75
Jan 2007	16.38	10.15
Dec 2006	14.49	8.95
Nov 2006	15	9.25
Oct 2006	10.91	6.73
Sep 2006	10.28	6.39
Aug 2006	8.13	5.07
Jul 2006	6.69	4.16
Jun 2006	7.02	4.36
May 2006	6.58	4.08

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 February 28, 2026, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	-11.88%	-9.75%
Last 3 years	10.89%	13.99%
Last 5 years	3.89%	8.5%
Last 10 years	16.44%	20.24%

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 Mar 13, 2026	497.99
Highest Aug 22, 2025	597.28
Highest, Inflation-Adjusted Aug 22, 2025	602.45
Annualized return Since May 25, 2006	27.31%
Annualized return, Inflation-Adjusted Since May 25, 2006	24.27%