Data as of:
LIVE
ADYEN.AS
Adyen N.V. (Amsterdam: ADYEN) · Technology - Payment Processing Platform
$879.10
-16.64% this month
VERSUS
COMPARE
MA
Stripe, Inc. (Mastercard as public proxy) · Technology - Developer Payment Infrastructure (Private)
$565.24
-1.48% this month
Comparison scoreboard
MIXED SETUPAI Scorei
ADYEN.AS N/A
MA 51.3
1Y Returni
ADYEN.AS -36.99%
MA ✓-3.55%
Fwd P/Ei
ADYEN.AS ✓18.81
MA 25.85
Target Up.i
ADYEN.AS ✓+57.84%
MA +12.46%
Op. Margini
ADYEN.AS 43.62%
MA ✓61.11%
Metrics last refreshed: 9/19/2026
Quick take
ADYEN vs Stripe Comparison: AI Score, Valuation, Performance and Upside
Adyen (publicly traded, Amsterdam) and Stripe (private, San Francisco) are the two most admired global payment processing platforms built for internet businesses — Adyen serves large enterprises with a unified commerce platform connecting directly to payment networks, while Stripe pioneered developer-first payment APIs and has expanded into comprehensive financial infrastructure for businesses of all sizes. Adyen is publicly investable; Stripe remains private.
Adyen vs Stripe is enterprise-first unified global commerce (Adyen's direct-to-network platform for large multinational merchants) versus developer-first payment infrastructure (Stripe's API ecosystem that started with startups and has expanded to comprehensive financial services for businesses of all scales) — top-down enterprise versus bottom-up developer-led market capture in global digital payments.
Live analysis · updated 9/19/2026
ADYEN.AS and MA are closely matched — they split the tracked metrics evenly. MA has delivered stronger 1-year price return (-3.55% vs -36.99%), though ADYEN.AS has the better forward P/E setup (18.81x vs 25.85x for MA). On fundamentals, ADYEN.AS is growing revenue faster (18.90%), while MA maintains the higher operating margin (61.11%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for ADYEN.AS (+57.84%) than for MA (+12.46%).
Want a full valuation workup? 46-section report — AI Score, Monte Carlo forecast, bull/bear case, DCF, and more.
Normalized 1Y performance
ADYEN.AS
MA
Recent returns
ADYEN.AS
MA
Analyst price targets & sentiment
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
ADYEN.AS · 35 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.6/5.0)
28 Buy / 7 Hold / 0 Sell
Price target range
analyst low$931.00
analyst high$1,900.00
analyst mean$1,387.57
current price$879.10
+57.8% upside to analyst mean
MA · 38 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
36 Buy / 4 Hold / 0 Sell
Price target range
analyst low$500.00
analyst high$690.00
analyst mean$669.46
current price$565.24
+12.5% upside to analyst mean
Who should consider this stock?
ADYEN may suit investors who:
- Want the publicly-traded global payment platform built for enterprise merchants — Adyen's unified commerce approach and direct card network connections provide competitive advantages in large merchant win rates and transaction economics
- Value Adyen's European listing on Euronext Amsterdam as providing geographic diversification in a high-quality technology company with global payment processing scale
- Accept Adyen's premium valuation in EUR as reflecting exceptional payment platform quality and are comfortable with currency exposure from an Amsterdam-listed stock
MA (as Stripe proxy) may suit investors who:
- Note that Stripe is not publicly traded — investors seeking Stripe exposure indirectly include Visa and Mastercard (whose rails Stripe uses), or must await a Stripe IPO
- Want exposure to global payment network infrastructure through Mastercard as a proxy for the broader digital payments ecosystem that both Adyen and Stripe operate within
- Are monitoring Stripe for a potential IPO that would provide direct access to the leading developer payment infrastructure company if and when it enters the public markets
Performance & AI score
| Metric | ADYEN.AS | MA |
|---|---|---|
| AI scorei | N/A | 51.3 |
| AI ranki | N/A | #461 |
| Latest closei | $879.10 | $565.24 |
| 1M returni | -16.64% | -1.48% |
| 6M returni | +1.56% | +15.09% |
| 1Y returni | -36.99% | -3.55% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ADYEN.AS | MA |
|---|---|---|
| 1Y ago | $6.3K (-37.0%) started 2025-09-18 | $9.64K (-3.6%) started 2025-09-18 |
| 5Y ago | $3.29K (-67.1%) started 2021-09-20 | $17.39K (+73.9%) started 2021-09-20 |
| 10Y ago | $19.32K (+93.2%) started 2018-06-13 | $62.89K (+528.9%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | ADYEN.AS | MA |
|---|---|---|
| Market capi | $27.75B | $521.49B |
| Trailing P/Ei | 24.69 | 32.78 |
| Forward P/Ei | 18.81 | 25.85 |
| Price/Salesi | 10.74 | 18.43 |
| EV/Revenuei | 6.10 | 15.24 |
| Analyst targeti | $1,387.57 | $669.46 |
| Target upsidei | +57.84% | +12.46% |
Growth, profitability & risk
| Metric | ADYEN.AS | MA |
|---|---|---|
| Revenue growthi | 18.90% | 14.10% |
| Earnings growthi | 12.90% | 22.10% |
| EPS growthi | +12.90% | +22.10% |
| FCF margini | -46.08% | +48.35% |
| Operating margini | 43.62% | 61.11% |
| Profit margini | 43.55% | 46.34% |
| ROIC proxyi | 21.27% | 241.20% |
| Return on equityi | 21.27% | 241.20% |
| Dividend yieldi | 0.00% | 0.58% |
| Payout ratioi | 0.00% | 17.93% |
| Dividend growth streaki | N/A | No increase yet |
| Betai | 1.88 | 0.73 |
| Debt/equityi | 6.93 | 439.58 |
| Current ratioi | 1.65 | 1.06 |
| Quick ratioi | 1.56 | 0.67 |
Correlation
Over the past year, ADYEN.AS and MA have moved weakly in the same direction (correlation of 0.30), based on daily returns.
1Y
0.30
-1.0+1.0
5Y
0.29
-1.0+1.0
10Y
0.28
-1.0+1.0
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
ADYEN.AS max drawdowni48.40%
MA max drawdowni19.54%
ADYEN.AS max wkly dropi22.65%
MA max wkly dropi6.45%
5Y risk snapshot
ADYEN.AS max drawdowni77.03%
MA max drawdowni28.25%
ADYEN.AS max wkly dropi48.83%
MA max wkly dropi13.28%
10Y risk snapshot
ADYEN.AS max drawdowni77.19%
MA max drawdowni41.00%
ADYEN.AS max wkly dropi48.83%
MA max wkly dropi21.70%
Performance metrics by period
| Period | Metric | ADYEN.AS | MA |
|---|---|---|---|
| 1Y | Growthi | -36.99% | -3.55% |
| CAGRi | -37.01% | -3.55% | |
| Volatilityi | 46.64% | 22.29% | |
| Sharpe ratioi | -0.84 | -0.25 | |
| Sortino ratioi | -1.12 | -0.36 | |
| Max drawdowni | 48.40% | 19.54% | |
| Current drawdowni | 42.23% | 5.77% | |
| Avg drawdowni | 26.99% | 8.45% | |
| Ulcer Indexi | 31.51% | 9.95% | |
| Max daily dropi | 21.87% | 5.77% | |
| Max wkly dropi | 22.65% | 6.45% | |
| 5Y | Growthi | -67.11% | +70.10% |
| CAGRi | -19.96% | +11.22% | |
| Volatilityi | 51.53% | 23.96% | |
| Sharpe ratioi | -0.25 | 0.38 | |
| Sortino ratioi | -0.35 | 0.54 | |
| Max drawdowni | 77.03% | 28.25% | |
| Current drawdowni | 67.99% | 5.77% | |
| Avg drawdowni | 48.82% | 7.15% | |
| Ulcer Indexi | 50.85% | 9.38% | |
| Max daily dropi | 38.98% | 7.69% | |
| Max wkly dropi | 48.83% | 13.28% | |
| 10Y | Growthi | +93.21% | +496.88% |
| CAGRi | +8.29% | +19.57% | |
| Volatilityi | 47.29% | 26.96% | |
| Sharpe ratioi | 0.31 | 0.63 | |
| Sortino ratioi | 0.45 | 0.91 | |
| Max drawdowni | 77.19% | 41.00% | |
| Current drawdowni | 68.22% | 5.77% | |
| Avg drawdowni | 33.33% | 6.30% | |
| Ulcer Indexi | 40.57% | 8.87% | |
| Max daily dropi | 38.98% | 12.73% | |
| Max wkly dropi | 48.83% | 21.70% |
Business comparison
| Category | ADYEN.AS | MA |
|---|---|---|
| Company | Adyen N.V. (Amsterdam: ADYEN) | Stripe, Inc. (Mastercard as public proxy) |
| Sector | Technology - Payment Processing Platform | Financial Services |
| Industry | Software - Infrastructure | Credit Services |
| Core business | Adyen is a Dutch global payment technology company providing an end-to-end payment platform that processes online, in-store, and app payments across 200+ countries and 250+ payment methods. Adyen serves large enterprises (Netflix, Spotify, McDonald's, L'Oréal, Uber) with a unified platform connecting directly to card networks and local payment methods without middleware processors. | Stripe is the world's leading developer-focused payment infrastructure company — providing APIs that allow software developers to accept payments, manage subscriptions, send payouts, handle fraud, and build financial services products with a few lines of code. Stripe is private (as of 2025) with a valuation last reported at $65-95 billion. Note: Mastercard (MA) is used here as a publicly-traded payments comparison. |
| Investor focus | Investors evaluate Adyen on processed volume growth, net revenue (take rate × volume), EBITDA margin, expansion into North American SMB through a Stripe-like offering, and the 2023 margin deceleration when Adyen announced aggressive hiring that disappointed investors expecting continued margin expansion. | Because Stripe is private, public investors cannot directly invest. Stripe's metrics are partially disclosed: it processes hundreds of billions in payments annually for millions of businesses globally, with strong revenue growth. A Stripe IPO would likely be one of the most anticipated fintech offerings. |
ADYEN.AS strengths
- Direct-to-network model — Adyen connects directly to Visa, Mastercard, and local payment methods without legacy processors as intermediaries, reducing costs and improving authorization rates and settlement speed
- Unified commerce platform — merchants use one Adyen integration for online, in-app, and in-store payments globally, providing a single data view of all transactions and reducing complexity versus managing multiple payment processors
- Enterprise customer loyalty — once large enterprises integrate Adyen's platform across their global operations (a multi-year technical project), switching costs are extremely high — Adyen has world-class customer retention rates
MA strengths
- Developer ecosystem network effect — Stripe's developer-first design and documentation have made it the default choice for startups and technical teams building payment products; millions of developers choose Stripe because it's what they learned and what their colleagues use
- Full-stack financial infrastructure — Stripe's product has expanded from payment processing (Stripe Payments) to issuing cards (Stripe Issuing), revenue and subscription management (Stripe Billing), fraud prevention (Stripe Radar), business incorporation (Stripe Atlas), and treasury banking (Stripe Treasury)
- Startup-to-enterprise trajectory — Stripe starts with founders building their first payment integration and grows with them as companies scale to billions in revenue; Amazon, Salesforce, and Shopify are Stripe customers built on Stripe's infrastructure
Risks to watch — ADYEN.AS
- North American SMB market competition is intense — Adyen's expansion into smaller merchant segments (previously served exclusively by Stripe) puts it in direct competition with Stripe, Braintree, and Square where Adyen lacks the developer ecosystem advantage
- High valuation on Amsterdam exchange — Adyen trades at premium multiples reflecting its growth and market position; any growth deceleration has caused dramatic stock price corrections (as seen in 2023)
- Currency exposure — Adyen reports in euros and most of its enterprise revenue is in EUR/GBP; USD-denominated revenue from North American merchants is subject to currency translation
Risks to watch — MA
- Private company opacity — without public financials, investors cannot fully assess Stripe's profitability, capital efficiency, or specific business segment performance
- Competition from Adyen at the enterprise level and Square/Toast/PayPal at the SMB level — Stripe's middle market is being approached from both above and below by well-capitalized competitors
- Enterprise expansion requires different go-to-market than developer-led adoption — winning large enterprise accounts requires relationship-driven sales motions that Stripe has had to build as it moves upmarket from its self-serve developer roots
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