Marqeta Inc. Class A Common Stock (MQ)

FairStock Score: 62/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Marqeta is a cloud-based card-issuing and transaction-processing platform. At $18.56 on 2026-10-13, the market values it at $2.0B. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed revenue of $176.0M and net income of $7.6M; fiscal Q1 2026 ended 2026-03-31 had $165.8M of revenue and $7.8M of net income. That follows fiscal 2025 ended 2025-12-31 revenue of $624.9M and a net loss of $13.9M. Earlier swings were wide: fiscal 2024 had $507.0M of revenue and $27.3M of net income, while fiscal 2023 had $676.2M of revenue and a $223.0M net loss. FairStock categorizes this as a TURNAROUND—loss in the latest year after earlier profits. The business generates cash: trailing free cash flow is $167.2M, an 8.4% FCF yield. Debt is tiny: D/E 0.01. But returns are poor: ROE 1.33%, ROCE -0.51%. FairStock's Piotroski score is 7/9, yet Altman Z is 1.47, which suggests financial fragility. Valuation is demanding: P/E 206.22, P/B 2.70, EV/EBITDA 62.81. The Graham Number is $3.73, leaving a -397.59% margin of safety, so price is far above asset/earnings-based value. PEG 0.21 looks cheap only because profit growth is rebounding from a depressed base. I see improving momentum but not a proven wide moat. If margins stay thin, the stock has little valuation cushion. If the recent profitability persists and free cash flow compounds, today's price may be justified. I prefer to wait for more evidence.

In plain English: Marqeta provides technology that lets companies issue payment cards and process transactions. The business has grown revenue and recently returned to small profits, but profits have been uneven over the years. At $18.56, the stock looks expensive relative to those small profits, though it produces solid cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer