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Marqeta, Inc.

MQ Technology Software Infrastructure

Marqeta, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $624.9 million, up 23.3% from fiscal 2024.

Revenue
+7.88%
EPS
+2,868.8%
Free cash flow
−77.6%
Total debt
+5.89%

Quarter to September 2026, against a year earlier

18.35 0.25 −1.34%
Market cap
$1.9B
P/E
14.6×
Fwd P/E
66.4×
Dividend yield
—
F-score
6/9
Altman Z
1.67
Beneish M
−3.11
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.10
Sold, $m 2.40
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell 5 2 2 2 4 2 4 2 1 3 1 —
Insider Ownership 14.93%

Capital & Financial Ratios $m

Size
Market Cap 1,910.00
Revenue ttm 690.09
Net income ttm 129.45
Free cash flow ttm 106.28
Net debt Q (746.58)
Valuation
P/E 14.59
Forward P/E 66.40 (above 35: high)
Price / sales 2.77
Forward P/S Powerpack
Price / FCF 18.00
Price / book 2.29
Financial health
Current ratio Q 1.70 (at or above 1.5: strong)
Debt / equity Q 0.26 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q +7.88% (above 0%: growing)
Operating income growth Q +160.51% (above 0%: growing)
EPS, this year +931.99% (at or above 15%: strong)
EPS, next year A −48.43% (below 0%: weak)
Revenue, next year A +12.68% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +32.03% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.7×, against a ten-year median of 3.0×; over the ten years it ranged from 1.1× in 2023 to 33.1× in 2021.
P/S against its own 10 years 9.78%
10-year low 10-year high
P/B against its own 10 years 28.62%
10-year low 10-year high
EV/Sales against its own 10 years 17.57%
10-year low 10-year high
EV/FCF against its own 10 years 17.73%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,258 1,111 1,080 964
Receivables 103 113 121 114
Inventory — — — —
Other — — — —
1,389 1,249 1,235 1,108
2023 2024 2025 Q'26
Payables 1 1 2 1
ST’ Debt 174 193 225 217
Other — — — —
337 371 749 651

Compound Annual Growth %

10y 5y 3y
Sales — 16.57% (5.83%)
Cash Flow — 26.46% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% (19.73%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.07 Actual 0.10

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.04 0.00 Beat by 0.04
Q1 FY26 0.00 0.08 Beat by 0.08
Q2 FY26 0.00 0.07 Beat by 0.07
Q3 FY26 0.07 0.10 Beat by 0.03
Q4 FY26 0.07 — Reports 23 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.08 0.07 1.09 — —
’25 (0.08) (0.01) (0.04) 0.00 (0.12)
’24 (0.28) 0.92 (0.24) (0.20) 0.20
’23 (0.52) (0.44) (0.40) (0.32) (1.68)
’22 (0.44) (0.32) (0.40) (0.20) (1.36)
’21 (0.39) (1.16) (0.32) (0.28) (1.80)
’20 (0.49) (0.24) (0.40) (0.43) (1.55)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 166 176 176 — —
’25 139 150 163 172 625
’24 118 125 128 136 507
’23 217 231 109 119 676
’22 166 187 192 204 748
’21 108 122 132 155 517
’20 48 69 84 88 290
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 63 26 — —
’25 10 13 87 53 163
’24 0 26 7 25 58
’23 (11) (26) 41 17 21
’22 (47) 23 (4) 15 (13)
’21 18 (12) (4) 56 57
’20 (9) 23 14 22 50
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) 55 18 — —
’25 3 5 79 47 132
’24 (6) 20 3 21 37
’23 (14) (29) 38 14 8
’22 (47) 23 (5) 13 (17)
’21 17 (13) (6) 55 54
’20 (9) 22 13 21 48
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — — 143 290 517 748 676 507 625 690 +27.8% 704 808 920 +13.8%
Gross margin, % — — — 42.20 40.62 44.80 42.77 48.73 69.40 69.98 69.78 +27.8 pt
EBT — — — (58) (48) (165) (185) (231) 28 (13) 25 (21.8%)
EBT margin, % — — — (40.60) (16.40) (31.82) (24.71) (34.10) 5.54 (2.13) 3.68 +38.5 pt
Net income — 0 — (58) (48) (164) (185) (223) 27 (14) 129 n/m
Per share, $
Per share, $ Revenue — — — 1.26 9.45 5.70 5.49 5.08 3.97 5.41 6.62 +27.5%
Earnings — — — (1.07) (1.55) (1.80) (1.36) (1.68) 0.20 (0.12) 1.26 (30.6%)
Cash flow — — — (0.14) 1.64 0.63 (0.10) 0.16 0.46 1.41 1.34 n/m
Capex — — — (0.04) (0.08) (0.03) (0.03) (0.09) (0.17) (0.26) (0.32) +35.1%
Free cash flow — — — (0.18) 1.56 0.60 (0.12) 0.06 0.29 1.15 1.02 n/m
Book value — — — (1.74) (6.95) 17.35 10.80 9.34 8.49 6.59 8.03 n/m
Shares, m — — — 114 31 91 136 133 128 116 108 +0.2%
Valuation, ×
Valuation, × P/E — — — 0.00 0.00 0.00 0.00 0.00 75.80 0.00 14.59 10.8
P/S — — — 11.41 11.41 12.04 4.28 5.36 3.82 3.51 2.77 7.4
P/B — — — 0.00 0.00 3.96 2.17 2.92 1.79 2.88 2.29 2.0
EV/Sales — — — 10.55 10.55 8.97 2.29 3.76 2.01 2.14 1.69 5.8
EV/FCF — — — 49.72 49.72 85.59 (111.95) 300.73 27.58 10.13 10.97 58.8
Cash, $m
Cash, $m Operating cash flow — — — (15) 50 57 (13) 21 58 163 139 n/m
Capex — — — (5) (2) (3) (4) (13) (21) (30) (33) +35.4%
Free cash flow — — — (20) 48 54 (17) 8 37 132 106 n/m
Balance, $m
Balance, $m Working capital — — — 133 290 1,561 1,464 1,052 878 486 457 +24.1%
Net debt — — — (134) (300) (1,587) (1,490) (1,085) (918) (855) (747) +36.3%
Shareholders’ equity — — — (198) (214) 1,573 1,473 1,243 1,085 762 837 n/m
Returns, %
Returns, % ROA — — — (109.64) (14.01) (14.33) (10.26) (13.27) 1.79 (0.93) 8.66 +108.7 pt
ROIC — — — 0.00 0.00 0.00 0.00 (111.36) (9.13) 0.00 2.57 0.0 pt
ROE — — — 59.39 23.15 (24.11) (12.13) (16.42) 2.34 (1.51) 15.45 (60.9) pt
People
People Employees — — — — 509 789 958 771 854 938 — +13.0%
Revenue/emp, $m — — — 0.00 0.57 0.66 0.78 0.88 0.59 0.67 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Marqeta, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GCT GigaCloud Technology Inc. $2.3B 13.5× 12.7× +27.33% (above 0%: growing) +42.42% (above 0%: growing) −27.55% (below 0%: shrinking) 24.85% 13.94% Compare
EVTC Evertec, Inc. $2.0B 21.8× 19.4× +23.80% (above 0%: growing) +3.80% (above 0%: growing) +29.34% (above 0%: growing) 53.70% 17.89% Compare
MQ Marqeta, Inc. $1.9B 14.6× 66.4× +7.88% (above 0%: growing) n/m −77.59% (below 0%: shrinking) 69.30% 3.56%
AI C3.ai, Inc. $1.8B — (loss-making) — (loss-making) −25.46% (below 0%: shrinking) n/m +106.02% (above 0%: growing) 31.83% (187.62%) Compare
STNE StoneCo Ltd. $1.8B 3.0× 3.0× +14.89% (above 0%: growing) −2.63% (below 0%: shrinking) +2,108.82% (above 0%: growing) 68.05% 43.79% Compare
PRGS Progress Software Corporation $1.8B 20.3× 36.0× −1.52% (below 0%: shrinking) +22.22% (above 0%: growing) +19.24% (above 0%: growing) 82.74% 18.92% Compare
NYAX Nayax Ltd. $1.7B 214× 179× +28.25% (above 0%: growing) n/m −335.31% (below 0%: shrinking) 46.86% (5.42%) Compare
INFQ Infleqtion, Inc. $1.7B — (loss-making) — — n/m +914.79% (above 0%: growing) 16.01% (220.55%) Compare
ATEN A10 Networks, Inc. $1.6B 37.8× 39.0× +15.50% (above 0%: growing) −20.00% (below 0%: shrinking) +53.34% (above 0%: growing) 79.09% 11.26% Compare
Median of peers $1.8B 21.1× 27.7× +15.50% +3.80% +41.34% 50.28% 12.60%

All 183 Software Infrastructure stocks →

Pay and ownership Proxy statement filed 21 April 2026

Ownership

Directors and executive officers, together 48.62% of the votes
Jason Gardner 46.92% of the votes
Entities associated with T. Rowe Price Associates 7.81% of the votes
Entities associated with T. Rowe Price Investment Management 4.21% of the votes
Entities associated with BlackRock, Inc. 3.92% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Marqeta, Inc. (MQ) Latest News

5 Nov

Impact 3 · · paymentsdive.com

4 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Simply Wall St.
Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · StockStory

20 Oct

Impact 3 · · StockStory

19 Oct

Impact 4 · · Business Wire
Impact 4 · · Forkast News
Impact 3 · · Insider Monkey

18 Oct

Impact 4 · · Simply Wall St.

16 Oct

Impact 3 · · 24/7 Wall St.

9 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

8 Oct

Impact 4 · · Simply Wall St.

7 Oct

Impact 3 · · Zacks

1 Oct

Impact 3 ·

30 Sep

Impact 3 · · StockStory

25 Sep

Impact 3 · · Business Wire

8 Sep

Impact 3 ·

12 Aug

Impact 3 ·

6 Aug

Impact 4 ·
Impact 3 ·

5 Aug

Impact 4 ·
Impact 4 · transcript
Impact 3 ·
Impact 3 ·

4 Aug

Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·
stockrow.com/MQ · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com