VISA Valuation -- compare & contrast

Stock

Market

Price to

Price to

Price

Cap

BookValue

Earnings

Visa

$39.5*

$32bb

1.6

19

Mastercard

MA

$200

$26bb

8

21.5

Discover

DFS

$14.84

$7.12bb

1.3

negative**

*price range mid-point

**DFS showed a loss for the November 2007 quarter

Note: P/E ratio based on annualizing the most recent quarter