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 2026 as the baseline (latest available CPI).

The current value of Mastercard stock is 635.7 (as of the close of Oct 29, 2026), which is the all-time high.

Since May 25, 2006, the inflation-adjusted total return for the stock has been 9,096%, which is equivalent to an annual growth rate of 24.77%.

In nominal values, the total return since this date has been 15,201%, or an annualized rate of 27.92%.

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
Oct 2026	635.7	635.7
Sep 2026	550.64	550.64
Aug 2026	591.86	588.42
Jul 2026	577.41	572.23
Jun 2026	516.55	511.97
May 2026	495.08	492.41
Apr 2026	507.22	501.32
Mar 2026	507.35	497.22
Feb 2026	530.68	514.68
Jan 2026	555.42	536.16
Dec 2025	589.8	567.24
Nov 2025	568.65	547.02
Oct 2025	548.47	548.47
Sep 2025	585.54	564.44
Aug 2025	614.35	590.71
Jul 2025	586.29	562.12
Jun 2025	581.69	556.87
May 2025	608.25	580.32
Apr 2025	570.45	543.11
Mar 2025	571.47	542.4
Feb 2025	602.21	570.29
Jan 2025	582.97	549.63
Dec 2024	555.48	520.31
Nov 2024	562.4	526.6
Oct 2024	526.92	493.65
Sep 2024	520.72	487.28
Aug 2024	510.51	476.96
Jul 2024	490.17	457.59
Jun 2024	466.19	434.69
May 2024	472.6	440.52
Apr 2024	477.75	444.59
Mar 2024	511.19	473.85
Feb 2024	507.22	467.15
Jan 2024	482.91	442.03
Dec 2023	460.26	419.02
Nov 2023	446.14	406.56
Oct 2023	404.91	369.74
Sep 2023	425.18	388.39
Aug 2023	444.25	404.81
Jul 2023	426.33	386.79
Jun 2023	425.47	385.28
May 2023	396.15	357.57
Apr 2023	413.48	372.28
Mar 2023	396.78	355.44
Feb 2023	389.2	347.5
Jan 2023	408.23	362.47
Dec 2022	385.48	339.55
Nov 2022	393.88	348.02
Oct 2022	362.32	320.46
Sep 2022	314.69	277.21
Aug 2022	359.76	316.23
Jul 2022	392.25	344.91
Jun 2022	349.2	307.1
May 2022	401.57	348.36
Apr 2022	412.24	353.72
Mar 2022	407.14	347.4
Feb 2022	416.54	350.74
Jan 2022	450.12	375.59
Dec 2021	421.57	348.83
Nov 2021	370.61	305.73
Oct 2021	396.8	325.72
Sep 2021	414.07	337.1
Aug 2021	413.46	335.7
Jul 2021	461.84	374.2
Jun 2021	438.47	353.57
May 2021	437.08	349.2
Apr 2021	466.83	370
Mar 2021	438.1	344.41
Feb 2021	438.48	342.28
Jan 2021	394.08	305.95
Dec 2020	446.06	344.83
Nov 2020	420.92	325.09
Oct 2020	360.83	278.85
Sep 2020	422.43	326.32
Aug 2020	448.06	345.64
Jul 2020	387.16	297.72
Jun 2020	372.44	284.96
May 2020	381.05	289.96
Apr 2020	348.23	264.98
Mar 2020	303.4	232.42
Feb 2020	363.76	279.27
Jan 2020	397.05	303.99
Dec 2019	376.2	286.91
Nov 2019	367.85	280.8
Oct 2019	348.25	265.99
Sep 2019	342.03	260.64
Aug 2019	354.65	270.04
Jul 2019	343.16	261.31
Jun 2019	333.56	253.57
May 2019	317.18	241.07
Apr 2019	321.33	243.71
Mar 2019	298.74	225.38
Feb 2019	286.8	215.16
Jan 2019	270.53	202.1
Dec 2018	241.77	180.27
Nov 2018	256.86	192.14
Oct 2018	251.68	188.89
Sep 2018	283.6	212.48
Aug 2018	274.94	205.75
Jul 2018	252.68	188.99
Jun 2018	250.5	187.34
May 2018	242.72	181.24
Apr 2018	228.54	169.94
Mar 2018	225.13	166.74
Feb 2018	226.41	167.31
Jan 2018	218.69	160.88
Dec 2017	196.62	143.86
Nov 2017	195.35	143.01
Oct 2017	193.15	141.4
Sep 2017	182.92	133.99
Aug 2017	173.6	126.5
Jul 2017	166.94	121.28
Jun 2017	158.24	115.04
May 2017	160.25	116.4
Apr 2017	151.83	110.18
Mar 2017	146.95	106.33
Feb 2017	144.44	104.43
Jan 2017	139.48	100.52
Dec 2016	135.94	97.41
Nov 2016	134.61	96.42
Oct 2016	140.73	100.97
Sep 2016	133.75	95.83
Aug 2016	127.3	90.99
Jul 2016	125.58	89.68
Jun 2016	115.68	82.75
May 2016	126.39	90.11
Apr 2016	128.34	91.14
Mar 2016	125.39	88.62
Feb 2016	115.83	81.51
Jan 2016	118.74	83.49
Dec 2015	129.8	91.12
Nov 2015	130.1	91.64
Oct 2015	131.25	92.64
Sep 2015	119.23	84.2
Aug 2015	122.02	86.3
Jul 2015	128.48	91
Jun 2015	123.11	87.19
May 2015	121.93	86.05
Apr 2015	119.82	84.14
Mar 2015	114.77	80.43
Feb 2015	120.45	83.91
Jan 2015	110.11	76.37
Dec 2014	114.88	80.06
Nov 2014	115.73	81.11
Oct 2014	110.44	77.82
Sep 2014	97.09	68.59
Aug 2014	99.64	70.34
Jul 2014	97.3	68.8
Jun 2014	96.23	68.07
May 2014	100.32	70.83
Apr 2014	96.85	68.15
Mar 2014	98.54	69.11
Feb 2014	103.19	71.9
Jan 2014	100.85	70.01
Dec 2013	111.6	77.19
Nov 2013	101.62	70.29
Oct 2013	95.58	66.25
Sep 2013	89.36	62.1
Aug 2013	80.6	55.94
Jul 2013	81.3	56.36
Jun 2013	76.44	52.98
May 2013	76.06	52.58
Apr 2013	73.88	50.99
Mar 2013	72.15	49.84
Feb 2013	69.22	47.7
Jan 2013	69.87	47.75
Dec 2012	66.37	45.22
Nov 2012	65.84	44.99
Oct 2012	61.8	42.43
Sep 2012	60.48	41.53
Aug 2012	56.9	38.91
Jul 2012	59.07	40.16
Jun 2012	58.06	39.54
May 2012	54.79	37.37
Apr 2012	60.89	41.58
Mar 2012	56.75	38.64
Feb 2012	57.11	38.59
Jan 2012	48.56	32.67
Dec 2011	51.12	34.24
Nov 2011	51.23	34.4
Oct 2011	47.45	31.89
Sep 2011	43.23	29.11
Aug 2011	45.01	30.26
Jul 2011	41.51	27.83
Jun 2011	41.27	27.65
May 2011	39.27	26.34
Apr 2011	37.92	25.31
Mar 2011	34.8	23.08
Feb 2011	33.58	22.06
Jan 2011	33.18	21.69
Dec 2010	31.57	20.54
Nov 2010	33.45	21.72
Oct 2010	33.89	22
Sep 2010	31.64	20.51
Aug 2010	28.03	18.16
Jul 2010	29.73	19.23
Jun 2010	28.22	18.26
May 2010	28.51	18.46
Apr 2010	35.08	22.7
Mar 2010	35.96	23.23
Feb 2010	31.9	20.52
Jan 2010	35.54	22.85
Dec 2009	36.5	23.4
Nov 2009	34.29	22.01
Oct 2009	31.2	20.02
Sep 2009	28.8	18.46
Aug 2009	28.89	18.51
Jul 2009	27.73	17.72
Jun 2009	23.85	15.27
May 2009	25.35	16.09
Apr 2009	26.45	16.74
Mar 2009	24.18	15.27
Feb 2009	22.88	14.41
Jan 2009	19.75	12.38
Dec 2008	20.86	13.02
Nov 2008	20.99	13.23
Oct 2008	20.94	13.46
Sep 2008	24.85	16.14
Aug 2008	33.94	22.07
Jul 2008	34.03	22.21
Jun 2008	37.18	24.15
May 2008	43.66	28.07
Apr 2008	39.67	25.3
Mar 2008	31.98	20.26
Feb 2008	27.48	17.27
Jan 2008	30.03	18.81
Dec 2007	31.35	19.54
Nov 2007	29.21	18.22
Oct 2007	27.81	17.25
Sep 2007	21.69	13.42
Aug 2007	20.14	12.43
Jul 2007	23.6	14.59
Jun 2007	24.33	15.05
May 2007	21.96	13.55
Apr 2007	16.5	10.12
Mar 2007	15.78	9.62
Feb 2007	16.06	9.7
Jan 2007	16.81	10.1
Dec 2006	14.87	8.91
Nov 2006	15.39	9.2
Oct 2006	11.19	6.7
Sep 2006	10.55	6.35
Aug 2006	8.34	5.05
Jul 2006	6.86	4.14
Jun 2006	7.2	4.34
May 2006	6.75	4.06

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

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	-5.96%	-2.45%
Last 3 years	9%	12.34%
Last 5 years	5.87%	10.31%
Last 10 years	15.2%	19.11%
Last 20 years	21.86%	24.99%

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 Oct 29, 2026	635.7
Highest Oct 29, 2026	635.7
Highest, Inflation-Adjusted Oct 29, 2026	635.7
Annualized return Since May 25, 2006	27.92%
Annualized return, Inflation-Adjusted Since May 25, 2006	24.77%