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Card-issuing and payment infrastructure platform enabling companies to launch and manage debit, credit and prepaid card programs.
Card-issuing and payment infrastructure platform enabling companies to launch and manage debit, credit and prepaid card programs.
Takes a small cut of every card payment made on cards issued through its platform, usually a share of interchange (the fee merchants pay on each card payment), so revenue rises with the amount customers spend. One large customer, Block, has long accounted for a big share of volume.
Moat: narrow (switching costs, scale). Deep API integrations into customer products create switching costs, though reliant on a concentrated customer base.
Headquarters: Oakland, California · Founded: 2010 · Employees: 938
Size Marqeta (MQ) is a United States Financials company (Miscellaneous Commercial Services) with a market value of $1.93B, the 1816th largest of 3,117 United States companies the cockpit tracks. Shares closed at $18.59 on 6 Nov 2026.
Performance Over six months the shares gained 11.4%, against +8.5% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 17 in its peer set.
Growth Revenue grew 17.2% over the last twelve months (peer median +14.6%); the operating margin is 1.6% (peer median 11.7%).
Valuation It trades at 38.5× forward earnings against a peer median of 8.4× (3rd most expensive of 16).
Backlog Backlog (remaining performance obligations) was $36.2M at 30 Sep 2026, down 18% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 4.7% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $690M | $625M | $507M | $676M | $748M |
| Revenue growth | — | +23% | -25% | -10% | — |
| Gross profit | $123M | $69.7M | -$63.2M | -$181M | -$98.9M |
| EBITDA | $48.1M | -$1.99M | -$110M | -$186M | -$202M |
| Net income | $129M | -$13.9M | $27.3M | -$223M | -$185M |
| Free cash flow | $106M | $132M | $37.0M | $8.45M | -$15.3M |
| Capital expenditure | $33.2M | $30.3M | $21.2M | $12.7M | $3.92M |
| Total debt | $13.8M | $16.3M | $13.2M | $16.9M | $12.4M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Marqeta MQ | $1.93B | +11% | +17% | 2% | 38.5× | n/a |
| SOFI SOFI | $21.0B | +3% | +38% | 23% | 19.7× | n/a |
| Bancorp TBBK | $1.97B | -15% | -7% | n/a | 6.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MQ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.6% | +0.7% | 6th highest of 17 |
| 6-month return | +11.4% | +8.5% | 9th highest of 17 |
| Distance from 52-week high | -16.6% | -17.9% | 9th highest of 17 |
| Revenue growth (TTM) | +17.2% | +14.6% | 8th highest of 17 |
| Operating margin | 1.6% | 11.7% | 3rd lowest of 17 |
| Forward P/E | 38.5× | 8.4× | 3rd most expensive of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Marqeta MQ | United States | $1.93B | +11% | +17% | 2% | 38.5× | n/a | n/a |
| EVERTEC EVTC | United States | $2.00B | +40% | +16% | 20% | 7.8× | n/a | n/a |
| StoneCo STNE | United States | $1.83B | -30% | -30% | -130% | 3.7× | n/a | n/a |
| PagSeguro Digital PAGS | United States | $2.11B | -25% | +11% | 38% | 4.5× | n/a | n/a |
| Payoneer Global PAYO | United States | $2.42B | +39% | +6% | 12% | 33.9× | n/a | n/a |
| Flywire FLYW | United States | $2.62B | +25% | +31% | 9% | 33.9× | n/a | n/a |
| Euronet Worldwide EEFT | United States | $2.65B | +3% | +5% | 11% | 6.2× | n/a | n/a |
| Shift4 Payments FOUR | United States | $3.47B | +3% | +32% | 10% | 8.4× | n/a | n/a |
| Paymentus PAY | United States | $3.70B | +20% | +26% | 8% | 32.3× | n/a | n/a |
| Katapult KPLT | United States | $939M | +64% | +13% | 17% | n/a | n/a | n/a |
| PicS PICS | United States | $889M | -44% | +89% | 6% | 2.8× | n/a | n/a |
| Paysign PAYS | United States | $829M | +155% | +47% | 17% | 40.3× | n/a | n/a |
| Remitly Global RELY | United States | $4.72B | -7% | +24% | 10% | 22.7× | n/a | n/a |
| Klarna KLAR | United States | $5.13B | -6% | +34% | -1% | 106.5× | n/a | n/a |
| Cass Information Systems CASS | United States | $694M | +14% | +2% | 22% | 15.7× | n/a | n/a |
| WEX WEX | United States | $5.99B | +29% | +10% | 27% | 8.0× | n/a | n/a |
| PRA PRAA | United States | $486M | -33% | +12% | 37% | 5.1× | n/a | n/a |
Marqeta reported $36.2M of remaining performance obligations at 30 Sep 2026, down 18% from a year earlier and down 12% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.