Marqeta, Inc. (MQ) Stock

Marqeta, Inc. (MQ) is a Technology stock trading at $16.36 (as of 2026-08-21), with a market capitalization of $1.75B and a trailing P/E of 89.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Marqeta, Inc. provides a cloud-based open API platform for card issuing and transaction processing, serving developers and other technical teams. Its services are used by customers such as financial institutions and digital and technology-focused companies.

Understand Marqeta, Inc.: how it makes money

Marqeta provides a cloud-based platform for card issuing and transaction processing that it sells to developers and financial institutions, earning money from transaction-linked net revenue (driven by take rate) and from processing and other fees.

Marqeta’s profitability is structurally driven by transaction economics, mainly the net revenue take rate applied to customer payment processing, supported by additional processing and other fees revenue and customer retention.

Revenue by segment (latest quarter)
Net Rev$0.2B
Proc & Other$0.0B

Business quality (Mixed): The profit model is linked to clearly stated operating KPIs (net revenue retention and take rate), but the dataset provides limited context on how volume and pricing change quarter to quarter.

Valuation: Trades at 388× trailing earnings · $2B market cap.

Bull case

  • Customer expansion appears strong, with Net Revenue Retention at 144%: This suggests existing customers can grow their usage over time, supporting the platform’s recurring-like economics.
  • Operational reliability is supported by Platform Uptime of 100%: Consistent uptime can help maintain processing performance for card issuing and transaction processing customers.

Bear case

  • Revenue concentration is elevated, with Net Revenue Concentration at 78% and Top Customer Concentration at 68%: If a large customer slows or changes strategy, results could be disproportionately affected.
  • Block net revenue concentration is also high at 42%: Concentration across blocks can increase sensitivity to shifts in transaction mix or customer behavior.
Valuation — source: SEC EDGAR (first-party)
Price$16.36
Market Cap$1.75B
P/E Ratio89.1
EV / EBITDA24.9
Price / Book2.44
Price / Sales2.60
FCF Yield9.0%
DCF Value (model)$4.88
DCF Upside vs Price-70.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$624.88M
Net Margin-2.2%
Revenue Growth (YoY)23.3%
FCF Growth (YoY)188.4%
Financial Health — source: SEC EDGAR
Altman Z-Score5.89 (safe)
Valuation vs Sector & Industry
Stock P/E89.1
Sector P/E (Technology)34.0
Industry P/E (Business Services)30.2
vs Sector162.1%
vs Industry195.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($178.20M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOMichael Milotich
Employees854
CountryUS
IPO Date2021-06-09

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MQ earnings history · MQ institutional & insider holders · MQ KPIs & operating metrics · MQ financials · MQ investor presentations & press releases · MQ SEC filings · MQ peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.