May 2026
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Largest Card Networks Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Visa, Mastercard and American Express.
 | Visa is the largest payment processor in the world. In fiscal 2025, it processed almost $17 trillion in total volume. Visa operates in over 200 countries and processes transactions in over 160 currencies. Its systems are capable of processing over 65,000 transactions per second. | $326 | -11% | $619B | $630B | 15.8x | 22.3x | ||
| Mastercard is the second-largest payment processor in the world, having processed close to $10 trillion in volume during 2024. Mastercard operates in over 200 countries and processes transactions in over 150 currencies. | $494 | -16% | $437B | $447B | 13.6x | 21.8x | ||
| American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. It operates in four segments: US consumer services, US commercial services, international card services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans. | $313 | +7% | $214B | $274B | 3.8x | — | ||
| Median | $326 | -11% | $437B | $447B | 13.6x | 22.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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