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Our Business Marqeta s mission is modernizing financial services by making the entire payment experience native and delightful. Marqeta s modern platform empowers our customers to create customized and innovative payment card programs, giving them configurability and flexibility.
$3.87
$0.23 (-5.61%)
Price from 2 days ago
The business is unprofitable at the operating level (-7.43% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 23.3%, still solid. Margins contracted 2.6pp, which offsets some of the top-line progress.
At 876x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from -1.65% to -3.94%, capital efficiency is deteriorating.
875.9x earnings, 11.4x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$652M
▲ +23.3% YoY
Net Income (TTM)
$2M
▼ -151.0% YoY
Op. Margin
-3.96%
▼ -2.6pp YoY
ROIC
-2.53%
▼ -2.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$147M
▲ +188.4% YoY
Op. Cash Flow (TTM)
$149M
▲ +179.6% YoY
Net Debt
-$705M
Net Cash Position
Cash & Equiv.
$712M
5Y CAGR: +16.6%
5Y CAGR: +27.4%
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