Marqeta, Inc.

Technology
Computer Software: Prepackaged Software
www.marqeta.com

Moat Score

Market Cap $1.99B
PE 73
Debt -
Cash $931.52M
EV -
FCF $55.75M

Earnings

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Sales & Net Margins

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Earnings	$27.29M
EBIT	$28.08M
ROE	3%
ROA	2%
FCF	$55.75M
Equity	$1.09B
Growth Stability	1
PE	73.04
PB	1.84
P/FCF	35.75
P/S	3.93
Price/Cash	0.47
Net Margins	5%
Gross Margins	69%
Op. Margins	6%
Sales Growth YoY	14%
Sales Growth QoQ	6%
Sales CAGR	9%
FCF CAGR	3%
Equity CAGR	-10%
Earnings Growth YoY	-33%

Earnings Growth QoQ	-5%
Sales CAGR 5Y	9%
FCF CAGR 5Y	3%
Equity CAGR 5Y	-11%
Earnings CAGR 3Y	-11%
Sales CAGR 3Y	-11%
FCF CAGR 3Y	44%
Equity CAGR 3Y	-13%
Market Cap	$1.99B
Revenue	$507.00M
Assets	$1.46B
Cash	$931.52M
Shares Outstanding	511.07M
Moat Score	42%
Working Capital	878.31M
Current Ratio	3.37
Gross Profit	$351.85M
Shares Growth 3y	-3%
Equity Growth QoQ	-1%
Equity Growth YoY	-13%

Assets & ROA

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Stockholders Equity & ROE

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Marqeta brings speed and efficiency to card issuing and payment processing with the world's first open API platform. Our platform was built from the ground up to power an innovative payment experience for many of the apps and services you enjoy daily. Today, Marqeta has 800+ employees and operates globally in the US, UK, EU, Canada and the APAC region. We have extensive partnerships with multiple banks and card networks including Visa, Mastercard & Discover and our solutions are used by innovators in digital banking, lending, e-commerce, on-demand services and more. We are proud of our Oakland roots and strive to build a team as diverse as the markets we serve. Join us in reshaping the way payments are made.

SEC Filings

Direct access to Marqeta, Inc. (MQ) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Marqeta, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Marqeta, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Marqeta, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Marqeta, Inc..

Years

Calculation mode

= $690M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$56M	$57M	$59M	$61M	$63M	$65M	$67M	$69M	$71M	$74M	$76M	$759M
DCF		$52M	$49M	$46M	$43M	$40M	$38M	$35M	$33M	$31M	$29M	$293M
Value	$690M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-85%	-16%	-32%	-25%	-33%	5%	5%
ROA	-	-10%	-9%	-10%	-15%	2%	2%
ROE	-	22%	-10%	-13%	-18%	3%	3%

Bad Net Margins (5.38%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	103%	78%	45%	-10%	-25%	9%
Earnings YoY growth	-	-61%	244%	13%	21%	-112%	-
Equity YoY growth	-	8%	-836%	-6%	-16%	-13%	-11%
FCF YoY growth	-	-336%	13%	-128%	-233%	174%	3%