Mastercard 的高利润率支撑其估值，持续的区域增长支持继续持有该仓位。
逐段跳播
接下来，我们来看Mastercard。19万美元的仓位现在盈利4.2万美元。我会把Visa和这一只归为一类。我认为你可以抛硬币来决定投资哪一只。它们都是如此优秀的公司。我决定只选其中一只，但我本可以两只都等额投资。
Now, moving on, we get to Mastercard. $190,000 position now $42,000 in the green. I would group Visa in with this one. I think that you can flip a coin and invest in which one you want.
They're both such great companies. I decided to just pick one of them, but I could have I could have invested in both of them equally.
当我看Mastercard时，考虑到这家公司的经济特性，它的估值是合理的。当你的利润率超过50%时，你就理应享有25倍以上的市盈率。更好的是，这些公司的一切都在持续增长。我们可以看各地区的营收增长。
Mastercard在所有地方都在持续增长。所以，很多人担心这些本地支付提供商或政府会与Mastercard竞争，但即使美国是它们最成熟的市场，它们在美国的营收仍在增长。我们还有欧洲，那里的增长速度是两倍，达到14%。
我们还有亚太地区，每年增长7%。我们有拉丁美洲和加勒比地区，那里增长20%。我们有加拿大，增长7%到12%。所以每一个地区，它们的增长都高于通胀率。我相信在代理式商务的世界里，Mastercard和Visa会变得更有价值，而不是更没价值。所以我不会动这个持仓。
When I look at Mastercard, it trades at a reasonable valuation given the economics of the company. When you have above a 50% profit margin, you deserve to trade in the high 25s.
Better yet, everything about these companies continues to grow. We can look at the revenue growth by region. Mastercard continues to grow everywhere. So, a lot of people are concerned that these local payment providers or the government will compete with Mastercard, but they're growing revenue in the United States even though this is their most most mature market.
We also have Europe where they're growing twice as fast, 14%. We also have the Asia-Pacific area. It's growing 7% per year. We have Latin America, the Caribbean growing 20% there.
We have Canada growing 7 12%. So every single territory they're growing above the rate of inflation. I believe in a world of agentic commerce, Mastercard and Visa will become more valuable, not less. So I'm not touching that holding.
这个频道对 $MA 的历次判断
Joseph Carlson After Hours 在这只股票上共 2 条判断，这里只列相邻的几条。