Financial Data and Key Metrics Changes - Mastercard reported strong financial performance with a 25% adjusted EPS CAGR on a currency neutral basis for the three years ending 2024 [46] - The company achieved an 18% currency neutral adjusted net revenue CAGR for the same period [46] - In 2024, Mastercard returned $13.5 billion to shareholders through buybacks and dividends, totaling over $90 billion since its IPO in 2006 [47] Business Line Data and Key Metrics Changes - Services accounted for close to 40% of net revenue in 2022, reflecting a healthy growth pace [37] - The company processed over 159 billion transactions, growing both volumes and transactions by 11% on a local currency basis [45] - Mastercard issued over 3.5 billion cards and had approximately 150 million acceptance points globally [45] Market Data and Key Metrics Changes - Mastercard generates around 70% of its net revenue outside the United States, indicating strong international presence [33] - The company is expanding its domestic switching capabilities across China, enhancing its global acceptance [33] Company Strategy and Development Direction - Mastercard's strategy focuses on three key areas: consumer payments, commercial new payment flows, and value-added services and solutions, which are expected to drive growth [62] - The company emphasizes innovation and trust as core components of its competitive differentiation in the digital economy [38][42] - Mastercard is investing in stablecoin integration and partnerships to enhance its offerings in the digital asset space [56][57] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of adapting to geopolitical and macroeconomic changes while maintaining a diversified business model [62] - The company is optimistic about the growth potential in digital payments and the integration of stablecoins into mainstream finance [53][59] Other Important Information - The stockholder proposals for a racial equity audit report and a report on affirmative action risks were not approved [24] - Mastercard has been recognized as one of the most trusted companies in America by Forbes and Newsweek for 2025 [44] Q&A Session Summary Question: How does Mastercard approach executive compensation? - The primary objective of the compensation program is to attract, motivate, and retain executives, ensuring alignment with business strategy and performance metrics [51][52] Question: What are the opportunities and risks associated with stablecoins? - Stablecoins present exciting growth opportunities, and Mastercard is integrating them into its network to provide secure and reliable payment experiences [53][54][56] Question: Is Mastercard ready to adapt to a changing political environment? - Mastercard does not take political stances but operates to serve all geographies, respecting a range of political views grounded in goodwill and tolerance [60][61] Question: What will be the main growth drivers in the coming year? - Key growth drivers include consumer payments, commercial new payment flows, and value-added services, which are expected to fuel long-term growth [62]

Financial Data and Key Metrics Changes - PepsiCo delivered 2% organic revenue growth for the full year 2024, with a 9% growth in core constant currency earnings per share, exceeding guidance of at least 8% [4] - Over the past five years, net revenue increased by 37% to nearly $92 billion, while core EPS rose by 48% [4][5] Business Line Data and Key Metrics Changes - The international business generated net revenue of $37 billion, accounting for 40% of total net revenue and 39% of core division operating profit mix [5] - Core operating profit for the international business has compounded annually at 10% over the last five years [5] Market Data and Key Metrics Changes - Approximately 60% of PepsiCo's business comes from geographies with only 5% of the global population, indicating significant growth potential in other regions [6] Company Strategy and Development Direction - PepsiCo is focusing on four key pillars: evolving the product portfolio, expanding availability, modernizing the company, and enhancing sustainability through Pep Positive [7] - The company aims to innovate its product offerings, including no sugar beverages and healthier ingredients, while also expanding its presence in high-growth channels and markets [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience despite challenges such as the global pandemic and high inflation, believing the runway for growth remains vast [5][6] - The company is committed to transforming its supply chain and evolving its portfolio to support sustainable growth and value [14] Other Important Information - PepsiCo has made significant strides in sustainability, including incorporating recycled materials into packaging and achieving water use efficiency goals ahead of schedule [15][56] - The company has engaged in various initiatives to enhance its positive impact on communities and the environment [15][56] Q&A Session Summary Question: Thoughts on paying down debt instead of buying back stock - The company plans to repay $4 billion of long-term debt and return approximately $8.6 billion to shareholders in 2025, including $1 billion through share repurchases [79] Question: Dividend increase for Pepsi stock - A 5% increase in the annualized dividend per share was announced earlier this year, marking the 53rd consecutive annual increase [80] Question: Impact of GLP-1 drugs on Pepsi products - The company is monitoring GLP-1 trends and has observed that consumers are adjusting their consumption patterns, which the diverse portfolio can address [82] Question: Current debt levels - Total debt stands at $48.5 billion, with $8.3 billion in cash and equivalents, and 81% of the debt is long-term [84]