Growth & profitability
- Revenue has grown 16.6% per year over the past 5 years.
- Operating margin has expanded, at -7.4% in the latest year.
- Free cash flow has grown 27.4% per year over the past 5 years.
MQ Financials Marqeta, Inc.
7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $625M | -$14M | 70.0% | -7.4% | $161M | — | $709M |
| 2024 | $507M | $27M | 69.4% | -4.8% | $56M | — | $923M |
| 2023 | $676M | -$223M | 48.7% | -41.9% | $20M | — | $981M |
| 2022 | $748M | -$185M | 42.8% | -28.0% | -$15M | — | $1.2B |
| 2021 | $517M | -$164M | 44.8% | -31.3% | $54M | — | $1.2B |
| 2020 | $290M | -$48M | 40.6% | -16.2% | $48M | — | $220M |
| 2019 | $143M | -$58M | 42.2% | -41.1% | -$20M | — | $60M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $166M | $8M | 70.9% | 1.3% | -$5M | — | $675M |
| Dec '25 | $172M | -$1M | 69.7% | -4.8% | $53M | — | $709M |
| Sep '25 | $163M | -$4M | 70.1% | -6.4% | $86M | — | $747M |
| Jun '25 | $150M | -$647000 | 69.2% | -6.1% | $12M | — | $733M |
| Mar '25 | $139M | -$8M | 71.0% | -13.3% | $9M | — | $831M |
| Dec '24 | $136M | -$27M | 72.3% | -27.6% | $25M | — | $923M |
| Sep '24 | $128M | -$29M | 70.4% | -33.0% | $7M | — | $886M |
| Jun '24 | $125M | $119M | 63.3% | 83.9% | $25M | — | $925M |
| Mar '24 | $118M | -$36M | 71.3% | -42.3% | -$765000 | — | $970M |
| Dec '23 | $119M | -$40M | 70.0% | -47.4% | $16M | — | $981M |
| Sep '23 | $109M | -$55M | 66.6% | -64.1% | $41M | — | $948M |
| Jun '23 | $231M | -$59M | 36.6% | -30.0% | -$26M | — | $950M |
| Mar '23 | $217M | -$69M | 41.0% | -40.2% | -$11M | — | $1.1B |
| Dec '22 | $204M | -$26M | 42.7% | -26.7% | $14M | — | $1.2B |
| Sep '22 | $192M | -$53M | 41.8% | -31.0% | -$5M | — | $1.2B |
| Jun '22 | $187M | -$45M | 41.8% | -25.0% | $23M | — | $1.2B |
| Mar '22 | $166M | -$61M | 45.0% | -29.7% | -$47M | — | $1.2B |
| Dec '21 | $155M | -$37M | 48.8% | -24.3% | $55M | — | $1.2B |
| Sep '21 | $132M | -$46M | 44.9% | -34.7% | -$6M | — | $1.3B |
| Jun '21 | $122M | -$69M | 38.4% | -55.6% | -$13M | — | $1.6B |
Valuation over time
How the market has priced MQ against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 59.7× (Dec '24) to 75.2× (Nov '25).
- The price-to-sales ratio has risen from 2.6× (Mar '23) to 2.7× (Jun '26).
P/E
P/S
Frequently asked questions
Is MQ growing its revenue and profit?
Over the past 5 years, Marqeta, Inc.'s revenue has grown 16.6% per year. These are computed facts, not advice.
How much debt does MQ have?
As of FY2025, Marqeta, Inc. reported — of total debt against $709M of cash.
What is MQ's profit margin?
In FY2025, gross margin was 70.0%, operating margin -7.4%, and net margin -2.2%.
What is MQ's P/E ratio?
As of Jun '26, Marqeta, Inc. traded at a price-to-earnings ratio of about 75.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.