IB Net Payout Yields Model

MasterCard: Another Quarter Of Limited Growth


Summary

  • MasterCard reported mixed results for Q1 2015.
  • The majority of the earnings beat was based on a substantially lower effective tax rate.
  • The valuation of MasterCard remains stretched for a company with limited operating income growth.
   Investors reading my work know that I'm not bullish on a company with volumes growing around 10%, margins at very high levels that attract competition and valuations suggestive that growth is double the current level. Those are the general numbers that MasterCard (NYSE:MA) offers investors with the last quarter not providing any improvements on that theme.

 Read the full article on Seeking Alpha.


 Disclosure: No positions mentioned. Please read the disclaimer page for more details.

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