Mastercard Trails Market Despite Earnings Growth
Mastercard Incorporated (NYSE: MA) has underperformed the broader market despite reporting healthy earnings growth, according to a Q2 2026 investor letter from Giverny Capital Asset Management. The stock closed at $547.44 on July 20, 2026, with a market cap of $483.71 billion. While Mastercard posted a one-month return of 11.06%, its shares lost 2.99% over the past 52 weeks and were down 10% in the first half of 2026. The S&P 500 rose 10.2% in the same period. Giverny Capital noted that many high-quality earnings compounders like Mastercard, Charles Schwab, JP Morgan, and Progressive Corp are seeing stock prices lag despite strong EPS growth. Wall Street analysts expect Mastercard to compound EPS by 15% over the next few years, consistent with its historical growth rate. The article also notes that 157 hedge fund portfolios held Mastercard at the end of Q1 2026, up from 150 in the previous quarter.
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