Marqeta, Inc. (MQ) AI Stock Analysis

Marqeta, Inc. operates a cloud-based platform centered on open application programming interfaces (APIs) specializing in card issuing and transaction processing services. Founded in 2010 and headquartered in Oakland, California, the company caters to developers, technical product managers, and entrepreneurs. Its platform serves disruptive commerce ventures, digital banks, technology companies, and traditional financial institutions. By utilizing Marqeta's APIs, clients can streamline card issuance and manage transaction processing to improve operational efficiency. The company supports approximately 200 customers across the fintech ecosystem.

Marqeta's revenue expanded at a 16.6% compound annual growth rate from FY2020 through FY2025. Annual revenue grew to $748.2M in FY2022 before dropping 9.6% in FY2023 and 25.0% to $507.0M in FY2024. In FY2025, revenue rebounded 23.3% to $624.9M, accompanied by gross margin expansion to 70.0%, up from 44.8% in FY2021. Net income reached $27.3M in FY2024 before registering -$13.9M in FY2025. In the latest quarter ended June 30, 2026, quarterly revenue grew 17.0% year-over-year, bringing trailing twelve-month revenue to $677.2M with an operating margin of 2.5% and diluted earnings per share of $0.10.

As of June 30, 2026, Marqeta held $961.4M in cash and short-term investments against $15.4M in total debt, leaving net cash at $946.0M. The company shows a debt-to-equity ratio of 0.02 and a current ratio of 1.66 on $715.6M of shareholders' equity. Free cash flow rose to $160.8M in FY2025 from $55.8M in FY2024, supported by operating cash flow of $162.6M and minimal capital expenditures of $1.8M. Marqeta deployed $391.4M toward share buybacks in FY2025, contributing to a 20.9% reduction in share count over 5 years.

Marqeta trades at an enterprise value of $994.7M and a market capitalization of $1.95B. Its trailing price-to-earnings ratio is 186.9x, and its forward price-to-earnings ratio is 30.5x, compared to medians of 28.1x and 18.8x for its US-listed Technology peers. The company carries an enterprise value to EBITDA ratio of 47.8x versus the peer median of 16.6x, and a price-to-sales multiple of 2.9x compared to 2.8x for peers. Over the past year, the stock returned 2.2%, lagging the 16.8% return of the S&P 500, while its 5-year return of -79.2% trailed the index's 83.0% gain.

Wall Street coverage includes 1 Strong Buy, 2 Buys, 10 Holds, and 1 Strong Sell. The mean price target of $20.65 suggests an upside of 10.5% over the last close of $18.69. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $704.0M and earnings per share of $0.27, representing 306.6% earnings per share growth. For the subsequent year, 2 analysts project revenue of $807.5M and earnings per share of $0.50. The company beat earnings estimates in 3 of the last 4 quarters, with the next earnings announcement set for November 3, 2026.

This page is an AI-written research summary of Marqeta, Inc. (MQ). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MQ income statement, MQ balance sheet, MQ key metrics, MQ analyst forecast, MQ chart. See the MQ stock overview for the latest quote and news.