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 September 2025 as the baseline (latest available CPI).

The current value of Mastercard stock is 542.31 (as of the close of Dec 4, 2025), 9.34% lower than the all-time high of 598.17 (Aug 22, 2025).

Since May 25, 2006, the inflation-adjusted total return for the stock has been 7,986%, which is equivalent to an annual growth rate of 25.22%.

In nominal values, the total return since this date has been 12,870%, or an annualized rate of 28.29%.

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
Dec 2025	542.31	542.31
Nov 2025	550.53	550.53
Oct 2025	551.99	551.99
Sep 2025	568.06	568.06
Aug 2025	596.02	594.51
Jul 2025	568.79	565.72
Jun 2025	564.33	560.44
May 2025	590.1	584.04
Apr 2025	553.42	546.6
Mar 2025	554.42	545.88
Feb 2025	584.24	573.95
Jan 2025	565.57	553.16
Dec 2024	538.9	523.65
Nov 2024	545.62	529.98
Oct 2024	511.2	496.82
Sep 2024	505.18	490.41
Aug 2024	495.27	480.02
Jul 2024	475.55	460.52
Jun 2024	452.28	437.48
May 2024	458.49	443.34
Apr 2024	463.5	447.44
Mar 2024	495.93	476.9
Feb 2024	492.08	470.15
Jan 2024	468.5	444.87
Dec 2023	446.53	421.71
Nov 2023	432.82	409.17
Oct 2023	392.83	372.11
Sep 2023	412.49	390.89
Aug 2023	430.99	407.4
Jul 2023	413.61	389.28
Jun 2023	412.77	387.75
May 2023	384.33	359.87
Apr 2023	401.14	374.67
Mar 2023	384.94	357.72
Feb 2023	377.58	349.73
Jan 2023	396.05	364.8
Dec 2022	373.97	341.73
Nov 2022	382.12	350.25
Oct 2022	351.51	322.52
Sep 2022	305.3	278.99
Aug 2022	349.03	318.26
Jul 2022	380.55	347.13
Jun 2022	338.78	309.07
May 2022	389.58	350.59
Apr 2022	399.94	355.99
Mar 2022	394.99	349.63
Feb 2022	404.11	353
Jan 2022	436.69	378
Dec 2021	408.99	351.07
Nov 2021	359.55	307.69
Oct 2021	384.95	327.81
Sep 2021	401.71	339.27
Aug 2021	401.12	337.85
Jul 2021	448.05	376.6
Jun 2021	425.39	355.84
May 2021	424.04	351.44
Apr 2021	452.9	372.38
Mar 2021	425.03	346.62
Feb 2021	425.4	344.47
Jan 2021	382.32	307.91
Dec 2020	432.75	347.04
Nov 2020	408.36	327.18
Oct 2020	350.06	280.64
Sep 2020	409.82	328.41
Aug 2020	434.69	347.85
Jul 2020	375.6	299.63
Jun 2020	361.32	286.78
May 2020	369.67	291.82
Apr 2020	337.84	266.68
Mar 2020	294.35	233.92
Feb 2020	352.91	281.06
Jan 2020	385.2	305.94
Dec 2019	364.97	288.76
Nov 2019	356.87	282.61
Oct 2019	337.86	267.69
Sep 2019	331.82	262.31
Aug 2019	344.06	271.77
Jul 2019	332.92	262.98
Jun 2019	323.6	255.2
May 2019	307.71	242.62
Apr 2019	311.74	245.27
Mar 2019	289.82	226.83
Feb 2019	278.24	216.54
Jan 2019	262.46	203.4
Dec 2018	234.56	181.43
Nov 2018	249.2	193.37
Oct 2018	244.16	190.1
Sep 2018	275.14	213.84
Aug 2018	266.73	207.07
Jul 2018	245.14	190.2
Jun 2018	243.02	188.54
May 2018	235.48	182.4
Apr 2018	221.72	171.03
Mar 2018	218.41	167.81
Feb 2018	219.65	168.39
Jan 2018	212.16	161.91
Dec 2017	190.75	144.78
Nov 2017	189.52	143.93
Oct 2017	187.38	142.3
Sep 2017	177.46	134.85
Aug 2017	168.42	127.31
Jul 2017	161.95	122.06
Jun 2017	153.52	115.78
May 2017	155.47	117.14
Apr 2017	147.3	110.89
Mar 2017	142.56	107.01
Feb 2017	140.13	105.1
Jan 2017	135.31	101.17
Dec 2016	131.89	98.04
Nov 2016	130.59	97.04
Oct 2016	136.53	101.61
Sep 2016	129.76	96.45
Aug 2016	123.5	91.58
Jul 2016	121.83	90.26
Jun 2016	112.22	83.28
May 2016	122.62	90.69
Apr 2016	124.51	91.72
Mar 2016	121.65	89.19
Feb 2016	112.37	82.03
Jan 2016	115.19	84.02
Dec 2015	125.93	91.7
Nov 2015	126.22	92.23
Oct 2015	127.33	93.24
Sep 2015	115.67	84.74
Aug 2015	118.37	86.85
Jul 2015	124.64	91.58
Jun 2015	119.43	87.75
May 2015	118.29	86.6
Apr 2015	116.25	84.68
Mar 2015	111.35	80.95
Feb 2015	116.86	84.45
Jan 2015	106.82	76.86
Dec 2014	111.45	80.58
Nov 2014	112.28	81.63
Oct 2014	107.14	78.32
Sep 2014	94.19	69.03
Aug 2014	96.67	70.79
Jul 2014	94.4	69.24
Jun 2014	93.36	68.51
May 2014	97.33	71.29
Apr 2014	93.96	68.58
Mar 2014	95.6	69.55
Feb 2014	100.11	72.36
Jan 2014	97.84	70.46
Dec 2013	108.27	77.68
Nov 2013	98.58	70.74
Oct 2013	92.73	66.68
Sep 2013	86.7	62.5
Aug 2013	78.19	56.3
Jul 2013	78.87	56.72
Jun 2013	74.16	53.32
May 2013	73.79	52.92
Apr 2013	71.68	51.31
Mar 2013	69.99	50.16
Feb 2013	67.15	48
Jan 2013	67.78	48.06
Dec 2012	64.39	45.51
Nov 2012	63.87	45.27
Oct 2012	59.96	42.7
Sep 2012	58.67	41.8
Aug 2012	55.2	39.15
Jul 2012	57.3	40.42
Jun 2012	56.33	39.8
May 2012	53.16	37.61
Apr 2012	59.07	41.85
Mar 2012	55.06	38.88
Feb 2012	55.4	38.83
Jan 2012	47.11	32.88
Dec 2011	49.59	34.46
Nov 2011	49.7	34.62
Oct 2011	46.04	32.09
Sep 2011	41.94	29.3
Aug 2011	43.67	30.46
Jul 2011	40.27	28.01
Jun 2011	40.04	27.82
May 2011	38.1	26.5
Apr 2011	36.79	25.47
Mar 2011	33.76	23.23
Feb 2011	32.58	22.2
Jan 2011	32.19	21.83
Dec 2010	30.63	20.67
Nov 2010	32.45	21.86
Oct 2010	32.88	22.14
Sep 2010	30.69	20.64
Aug 2010	27.2	18.28
Jul 2010	28.84	19.36
Jun 2010	27.38	18.37
May 2010	27.66	18.58
Apr 2010	34.03	22.84
Mar 2010	34.89	23.38
Feb 2010	30.95	20.65
Jan 2010	34.47	23
Dec 2009	35.41	23.55
Nov 2009	33.26	22.15
Oct 2009	30.27	20.15
Sep 2009	27.94	18.58
Aug 2009	28.03	18.62
Jul 2009	26.9	17.83
Jun 2009	23.14	15.36
May 2009	24.59	16.19
Apr 2009	25.66	16.85
Mar 2009	23.46	15.37
Feb 2009	22.19	14.5
Jan 2009	19.16	12.46
Dec 2008	20.24	13.1
Nov 2008	20.36	13.32
Oct 2008	20.32	13.55
Sep 2008	24.11	16.24
Aug 2008	32.93	22.21
Jul 2008	33.01	22.36
Jun 2008	36.07	24.3
May 2008	42.35	28.25
Apr 2008	38.49	25.46
Mar 2008	31.02	20.39
Feb 2008	26.66	17.38
Jan 2008	29.13	18.93
Dec 2007	30.41	19.67
Nov 2007	28.34	18.34
Oct 2007	26.98	17.36
Sep 2007	21.05	13.51
Aug 2007	19.54	12.51
Jul 2007	22.89	14.68
Jun 2007	23.61	15.14
May 2007	21.31	13.64
Apr 2007	16.01	10.19
Mar 2007	15.31	9.68
Feb 2007	15.58	9.76
Jan 2007	16.31	10.16
Dec 2006	14.43	8.96
Nov 2006	14.93	9.26
Oct 2006	10.86	6.74
Sep 2006	10.24	6.39
Aug 2006	8.09	5.08
Jul 2006	6.65	4.17
Jun 2006	6.98	4.36
May 2006	6.55	4.09

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 September 30, 2025, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	12.45%	15.83%
Last 3 years	23%	26.75%
Last 5 years	6.75%	11.58%
Last 10 years	17.25%	20.96%

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 102.11% nominal gain, but the real return (the actual increase in buying power) was 60.97%.

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 2020 - Sep 2025	$202.11	102.11%	60.97%
Last 10 years Feb 2015 - Sep 2025	$672.66	572.66%	386.11%

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 Dec 4, 2025	542.31
Highest Aug 22, 2025	598.17
Highest, Inflation-Adjusted Aug 22, 2025	599.69
Annualized return Since May 25, 2006	28.29%
Annualized return, Inflation-Adjusted Since May 25, 2006	25.22%