Marqeta (MQ) AI Stock Analysis

• Market Cap: $2.17B
• Dividend Yield: N/A
• Average Volume (3M): 4.52M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.43
• Revenue Growth: 20.11%
• EPS Growth: -391.61%
• Country: US
• Employees: 854
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.01
• Shares Outstanding: 407,234,620
• 10 Day Avg. Volume: 3,998,783
• 30 Day Avg. Volume: 4,517,509
• PEG Ratio: -0.63
• Price to Book (P/B): 1.79
• Price to Sales (P/S): 3.82
• P/FCF Ratio: 34.74
• Enterprise Value/Market Cap: 0.61
• Enterprise Value/Revenue: 2.24
• Enterprise Value/Gross Profit: 3.18
• Enterprise Value/Ebitda: -32.27
• 1Y Price Target: $5.63
• Price Target Upside: 13.28% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 6
• EPS Forecast (FY): -0.04
• Revenue Forecast (FY): $619.67M

• Rating: 67 Neutral
• Price Target: $5.00 ▲(0.60% Upside)

Marqeta's overall stock score reflects strong financial performance in terms of cash flow and gross profitability, bolstered by positive earnings call sentiment and strategic corporate actions like the share repurchase program. However, challenges in achieving net profitability, mixed technical indicators, and valuation concerns weigh on the score.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for Marqeta's services, supporting long-term business expansion and market penetration.

Cash Flow Improvements

Improved cash flow enhances Marqeta's ability to invest in growth opportunities and maintain financial flexibility, supporting sustainable operations.

European Expansion

Successful expansion in Europe broadens Marqeta's market reach and diversifies revenue streams, strengthening its competitive position.

Negative Factors

Net Profitability Challenges

Persistent net profitability challenges may hinder Marqeta's ability to generate shareholder value and limit reinvestment capacity.

Customer Renewal Challenges

Renewal challenges with key customers could impact revenue stability and growth, posing risks to Marqeta's client retention strategy.

Cash App Diversification

Cash App's diversification could reduce Marqeta's transaction volume, affecting future revenue and market share in a key segment.

Marqeta Business Overview & Revenue Model

Company Description

Marqeta, Inc. operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions. As of December 31, 2021, the company had approximately 200 customers. Marqeta, Inc. was incorporated in 2010 and is headquartered in Oakland, California.

How the Company Makes Money

Marqeta generates revenue primarily through a transaction-based fee model, where it charges clients a fee for each transaction processed via its platform. Additionally, the company earns money through card issuance fees, which are charged when clients create and distribute cards. Key revenue streams also include monthly platform fees and the sale of value-added services, such as fraud detection and analytics. Partnerships with major financial institutions and collaborations with technology companies enhance its market presence and contribute to its earnings by broadening its customer base and integrating its services into various financial ecosystems.

Marqeta Financial Statement Overview

Summary

Marqeta shows strong gross profitability and cash flow improvements, with a robust balance sheet and low leverage. However, challenges remain in achieving net profitability and operational efficiency, as indicated by negative net profit and return on equity.

Income Statement

Marqeta's income statement shows a mixed performance. The TTM data indicates a gross profit margin of 70.69%, reflecting strong profitability at the gross level. However, the net profit margin is negative at -11.69%, indicating challenges in achieving profitability after expenses. The revenue growth rate of 6.39% in the TTM period is a positive sign, showing recovery from previous declines. Despite these positives, the negative EBIT and EBITDA margins highlight ongoing operational inefficiencies.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio of 0.017, suggesting minimal leverage and financial risk. However, the return on equity is negative at -6.45%, indicating that the company is not generating positive returns for shareholders. The equity ratio is robust, showcasing a solid capital structure, but the negative ROE remains a concern.

Cash Flow

Marqeta's cash flow statement is a highlight, with a significant free cash flow growth rate of 314.66% in the TTM period, indicating improved cash generation capabilities. The operating cash flow to net income ratio of 0.15 suggests that cash flows are not yet fully aligned with net income, but the free cash flow to net income ratio of 0.56 shows a positive trend in cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	588.56M	507.00M	676.17M	748.21M	517.17M	290.29M
Gross Profit	415.50M	351.85M	329.51M	320.00M	231.71M	117.91M
EBITDA	-40.90M	-7.01M	-272.27M	-205.96M	-158.47M	-43.59M
Net Income	-39.65M	27.29M	-222.96M	-184.78M	-163.93M	-47.70M
Balance Sheet
Total Assets	1.49B	1.46B	1.59B	1.77B	1.83B	457.68M
Cash, Cash Equivalents and Short-Term Investments	830.46M	1.10B	1.25B	1.62B	1.71B	370.34M
Total Debt	7.91M	13.22M	16.93M	12.43M	15.45M	18.22M
Total Liabilities	649.20M	378.19M	346.30M	297.39M	256.95M	169.52M
Stockholders Equity	839.23M	1.09B	1.24B	1.47B	1.57B	288.16M
Cash Flow
Free Cash Flow	106.34M	55.75M	8.45M	-16.89M	54.23M	47.90M
Operating Cash Flow	134.06M	58.17M	21.10M	-12.97M	56.97M	50.27M
Investing Cash Flow	291.99M	70.79M	38.52M	28.72M	-329.12M	-57.56M
Financing Cash Flow	-338.30M	-186.91M	-261.79M	-79.49M	1.30B	167.38M

Marqeta Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.97
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MQ, the sentiment is Positive. The current price of 4.97 is above the 20-day moving average (MA) of 4.82, above the 50-day MA of 4.75, and below the 200-day MA of 5.09, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 60.99 is Neutral, neither overbought nor oversold. The STOCH value of 87.64 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MQ.

Marqeta Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVTC	71 Outperform	$1.88B	13.05	25.05%	0.69%	9.67%	75.67%
FIVN	69 Neutral	$1.65B	59.02	4.67%	―	12.48%	―
PAYO	69 Neutral	$2.10B	30.73	9.79%	―	10.58%	-45.52%
MQ	67 Neutral	$2.17B	-62.20	-4.10%	―	20.11%	-391.61%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TENB	61 Neutral	$2.94B	-89.92	-8.95%	―	11.05%	45.23%
AVDX	60 Neutral	―	―	-1.17%	―	8.04%	39.57%

Marqeta Corporate Events

Marqeta Announces New $100M Share Repurchase Program

On December 4, 2025, Marqeta‘s Board of Directors approved a new share repurchase program, authorizing the company to buy back up to $100 million of its Class A common stock. This initiative is separate from their previous 2025 Share Repurchase Program, which has been fully completed. The decision reflects the company’s strategic focus on capital allocation, liquidity, and maintaining a balanced ownership structure without concentrating voting power. The repurchase will be executed based on market conditions and business requirements, aligning with Marqeta’s growth-oriented capital strategy.

Marqeta Appoints Sarah Barkema as Accounting Officer

On October 21, 2025, Marqeta, Inc. appointed Sarah Barkema as the Principal Accounting Officer, succeeding Mike Milotich in this role. Barkema, who has been with Marqeta since September 2024 as Chief Accounting Officer, brings extensive experience from her previous roles at Stitch Fix, Fortive, and VF Corporation, enhancing Marqeta’s financial leadership team.