MQNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Marqeta, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$18.69+0.00 (0.00%)
Close on Oct 19, 2026
- Market cap
- $2.00B
- P/E (TTM)
- 186.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
70.0%+29.4 pts over 5 years
Operating margin
-7.4%+8.8 pts over 5 years
Net margin
-2.2%+14.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +23.3% | -5.8% | +16.6% | – | |
| Gross profit | +24.3% | +11.0% | +30.0% | – | |
| Free cash flow | +188.4% | – | +27.4% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 23.1% | -1.5% | |
| Return on assets | – | – | -0.9% | |
| Current ratio | – | 3.05 | 1.65 | |
| Capex to revenue | – | 0.8% | 0.3% | |
| Diluted shares | – | 31M | 116M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Marqeta generated $311.84M from operations and spent $824.42M on capital expenditure, dividends and share buybacks. 1% of that went back into the business.
Generated
$311.84M
Used
$824.42M
Capital expenditure$10.08M1%Dividends$00%Share buybacks$814.35M99%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.2%
×Asset turnover0.42×
×Equity multiplier1.62×
=Return on equity, FY2025-1.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.2% | 0.42× | 1.62× | -1.5% |
| FY2024 | 5.4% | 0.33× | 1.31× | 2.3% |
| FY2023 | -33.0% | 0.40× | 1.24× | -16.4% |
| FY2022 | -24.7% | 0.42× | 1.18× | -12.1% |
| FY2021 | -31.7% | 0.45× | 1.68× | -24.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$13.93M
- Cash generatingOperating cash flow above zero$162.62M
- Return on assets improvedROA up on the prior year1.7% → -1.0%
- Earnings backed by cashOperating cash flow above net income$162.62M vs -$13.93M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.37 → 1.65
- No dilutionShare count did not rise130M → 116M
- Gross margin improvedGross margin up on the prior year69.40% → 69.98%
- More efficientAsset turnover rose0.32 → 0.43