Visa (V) Financials

$359.93 +0.63 (+0.18%)

Closing price 05/28/2025 03:59 PM Eastern

Extended Trading

$358.32 -1.62 (-0.45%)

As of 08:51 AM Eastern

Annual Income Statements for Visa

This table shows Visa's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016	9/30/2015
Net Income / (Loss) Attributable to Common Shareholders	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328
Consolidated Net Income / (Loss)	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328
Net Income / (Loss) Continuing Operations	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328
Total Pre-Tax Income	23,916	21,037	18,136	16,063	13,790	14,884	12,806	11,694	8,012	8,995
Total Operating Income	23,595	21,000	18,813	15,804	14,081	15,001	12,954	12,144	7,883	9,064
Total Gross Profit	29,662	26,822	24,320	19,865	18,061	19,533	17,439	15,730	12,856	11,801
Total Revenue	35,926	32,653	29,310	24,105	21,846	22,977	20,609	18,358	15,082	13,880
Operating Revenue	35,926	32,653	29,310	24,105	21,846	22,977	20,609	18,358	15,082	13,057
Total Cost of Revenue	6,264	5,831	4,990	4,240	3,785	3,444	3,170	2,628	2,226	2,079
Operating Cost of Revenue	6,264	5,831	4,990	4,240	3,785	3,444	3,170	2,628	2,226	2,079
Total Operating Expenses	6,067	5,822	5,507	4,061	3,980	4,532	4,485	3,586	4,973	2,737
Selling, General & Admin Expense	3,011	2,611	2,442	2,118	2,231	2,371	2,277	2,089	1,723	1,357
Marketing Expense	1,560	1,341	1,336	1,136	971	1,105	988	922	869	872
Depreciation Expense	1,034	943	861	804	767	656	613	556	502	494
Other Special Charges / (Income)	462	927	868	3.00	11	400	607	19	1,879	14
Total Other Income / (Expense), net	321	37	-677	259	-291	-117	-148	-450	129	-69
Interest Expense	641	644	538	513	516	533	612	563	427	3.00
Other Income / (Expense), net	962	681	-139	772	225	416	464	113	556	-66
Income Tax Expense	4,173	3,764	3,179	3,752	2,924	2,804	2,505	4,995	2,021	2,667
Basic Earnings per Share	$9.74	$8.29	$7.01	$5.63	$4.90	$5.32	$4.43	$2.80	$16.53	-
Weighted Average Basic Shares Outstanding	1.62B	1.62B	1.65B	1.69B	1.70B	1.74B	1.79B	1.85B	2.17B	1.95B
Diluted Earnings per Share	$9.73	$8.28	$7.00	$5.63	$4.89	$5.32	$4.42	$2.80	$16.50	$2.58
Weighted Average Diluted Shares Outstanding	2.03B	2.09B	2.14B	2.19B	2.22B	2.27B	2.33B	2.40B	2.68B	2.46B
Weighted Average Basic & Diluted Shares Outstanding	1.86B	1.84B	1.88B	1.93B	1.95B	1.97B	2.02B	2.07B	2.13B	0.00
Cash Dividends to Common per Share	$0.52	$0.45	$0.38	$0.32	$0.30	$0.25	$0.83	$0.17	$0.14	$0.12

This table shows Visa's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	4,577	5,119	5,318	4,872	4,663	4,890	4,681	4,156	4,257	4,179	3,940
Consolidated Net Income / (Loss)	4,577	5,119	5,318	4,872	4,663	4,890	4,681	4,156	4,257	4,179	3,940
Net Income / (Loss) Continuing Operations	4,577	5,119	5,318	4,872	4,663	4,890	4,681	4,156	4,257	4,179	3,940
Total Pre-Tax Income	5,438	6,200	6,372	5,989	5,513	6,042	5,636	5,146	5,278	4,977	4,868
Total Operating Income	5,435	6,234	6,349	5,938	5,354	5,954	5,550	5,024	5,336	5,090	5,087
Total Gross Profit	7,937	7,697	8,008	7,327	7,172	7,155	7,111	6,642	6,470	6,599	6,431
Total Revenue	9,594	9,510	9,617	8,900	8,775	8,634	8,609	8,123	7,985	7,936	7,787
Operating Revenue	9,594	9,510	9,617	8,900	8,775	8,634	8,609	8,123	7,985	7,936	7,787
Total Cost of Revenue	1,657	1,813	1,609	1,573	1,603	1,479	1,498	1,481	1,515	1,337	1,356
Operating Cost of Revenue	1,657	1,813	1,609	1,573	1,603	1,479	1,498	1,481	1,515	1,337	1,356
Total Operating Expenses	2,502	1,463	1,659	1,389	1,818	1,201	1,561	1,618	1,134	1,509	1,344
Selling, General & Admin Expense	816	831	824	734	801	652	782	629	591	609	686
Marketing Expense	381	306	551	378	338	293	403	297	309	332	429
Depreciation Expense	305	282	274	264	249	247	247	235	234	227	226
Other Special Charges / (Income)	1,000	44	10	13	430	9.00	129	457	0.00	341	3.00
Total Other Income / (Expense), net	3.00	-34	23	51	159	88	86	122	-58	-113	-219
Interest Expense	158	182	176	196	82	187	183	182	142	137	159
Other Income / (Expense), net	161	148	199	247	241	275	269	304	84	24	-60
Income Tax Expense	861	1,081	1,054	1,117	850	1,152	955	990	1,021	798	928
Basic Earnings per Share	$2.32	$2.58	$2.66	$2.40	$2.29	$2.39	$2.26	$2.00	$2.04	$1.99	$1.87
Weighted Average Basic Shares Outstanding	1.72B	1.73B	1.62B	1.61B	1.58B	1.58B	1.62B	1.61B	1.62B	1.63B	1.65B
Diluted Earnings per Share	$2.32	$2.58	$2.65	$2.40	$2.29	$2.39	$2.26	$2.00	$2.03	$1.99	$1.87
Weighted Average Diluted Shares Outstanding	1.97B	1.99B	2.03B	2.03B	2.04B	2.05B	2.09B	2.08B	2.09B	2.10B	2.14B
Weighted Average Basic & Diluted Shares Outstanding	1.85B	1.86B	1.86B	1.82B	1.83B	1.84B	1.84B	1.86B	1.87B	1.88B	1.88B

This table details how cash moves in and out of Visa's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016	9/30/2015
Net Change in Cash & Equivalents	-2,227	1,613	578	628	7,899	-145	-1,034	4,364	2,101	1,547
Net Cash From Operating Activities	19,950	20,755	18,849	15,227	10,440	12,784	12,941	9,317	5,574	6,584
Net Cash From Continuing Operating Activities	19,950	20,755	18,849	15,227	10,440	12,784	12,941	9,317	5,574	6,584
Net Income / (Loss) Continuing Operations	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328
Consolidated Net Income / (Loss)	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328
Depreciation Expense	1,034	943	861	804	767	656	613	556	502	494
Amortization Expense	13,764	12,297	10,295	8,367	-	6,173	5,491	4,565	3,409	2,861
Non-Cash Adjustments To Reconcile Net Income	-15,401	-10,750	-8,958	-8,404	675	-7,999	-4,653	-4,262	-3,159	-2,355
Changes in Operating Assets and Liabilities, net	810	992	1,694	2,149	-1,868	1,874	1,189	1,759	-1,169	-744
Net Cash From Investing Activities	-1,926	-2,006	-4,288	-152	1,427	-591	-3,084	735	-10,916	-1,435
Net Cash From Continuing Investing Activities	-1,926	-2,006	-4,288	-152	1,427	-591	-3,084	735	-10,916	-1,435
Purchase of Property, Plant & Equipment	-1,257	-1,059	-970	-705	-736	-756	-718	-707	-523	-414
Acquisitions	-915	0.00	-1,948	-75	-77	-699	-196	-302	-9,082	-93
Purchase of Investments	-4,674	-4,082	-6,083	-5,182	-2,342	-3,154	-5,822	-3,284	-10,436	-2,875
Sale and/or Maturity of Investments	5,013	3,160	4,585	5,701	4,510	3,996	3,636	5,016	9,125	1,937
Other Investing Activities, net	-93	-25	128	109	72	22	16	0.00	-	-
Net Cash From Financing Activities	-20,633	-17,772	-12,696	-14,410	-3,968	-12,061	-10,790	-5,924	7,477	-3,603
Net Cash From Continuing Financing Activities	-20,633	-17,772	-12,696	-14,410	-3,968	-12,061	-10,790	-5,924	7,432	-4,455
Repayment of Debt	170	-2,050	-1,198	-3,000	-99	0.00	-1,750	-15	-98	-426
Repurchase of Common Equity	-16,713	-12,101	-11,589	-8,676	-8,114	-8,607	-7,192	-6,891	-7,157	-2,910
Payment of Dividends	-4,217	-3,751	-3,203	-2,798	-2,664	-2,269	-1,918	-1,579	-1,350	-1,177
Issuance of Debt	0.00	0.00	3,218	0.00	7,212	0.00	0.00	2,488	15,971	0.00
Other Financing Activities, net	127	130	76	64	-303	-1,185	70	73	66	58
Effect of Exchange Rate Changes	382	636	-1,287	-37	-	-277	-101	236	-34	1.00
Cash Interest Paid	583	617	607	643	537	537	545	489	244	0.00
Cash Income Taxes Paid	5,775	3,433	3,741	3,012	2,671	2,648	2,285	3,038	2,842	2,486

This table details how cash moves in and out of Visa's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-830	203	487	328	-688	-2,354	951	1,911	745	-1,994	1,381
Net Cash From Operating Activities	4,695	5,396	6,664	5,134	4,538	3,614	6,927	5,797	3,860	4,171	5,876
Net Cash From Continuing Operating Activities	4,719	5,396	6,664	5,134	4,538	3,614	6,927	5,797	3,860	4,171	5,876
Net Income / (Loss) Continuing Operations	4,577	5,119	5,318	4,872	4,663	4,890	4,681	4,156	4,257	4,179	3,940
Consolidated Net Income / (Loss)	4,577	5,119	5,318	4,872	4,663	4,890	4,681	4,156	4,257	4,179	3,940
Depreciation Expense	305	282	274	264	249	247	247	235	234	227	226
Amortization Expense	3,734	3,797	3,629	3,530	3,257	3,348	3,439	3,167	2,905	2,786	2,860
Non-Cash Adjustments To Reconcile Net Income	-3,786	-2,626	-5,736	-1,649	-4,409	-3,607	-2,610	-3,024	-2,490	-2,626	-9,017
Changes in Operating Assets and Liabilities, net	-111	-1,176	3,179	-1,883	778	-1,264	1,170	1,263	-1,046	-395	7,867
Net Cash From Investing Activities	-130	790	584	555	-1,176	-1,889	-1,188	17	-325	-510	107
Net Cash From Continuing Investing Activities	-130	790	584	555	-1,176	-1,889	-1,188	17	-325	-510	107
Purchase of Property, Plant & Equipment	-327	-345	-309	-400	-281	-267	-305	-295	-210	-249	-295
Acquisitions	19	-906	-	-	-	0.00	-	-	-	-	-3.00
Purchase of Investments	-18	-6.00	-212	-762	-946	-2,754	-1,586	-341	-542	-1,613	-1,600
Sale and/or Maturity of Investments	226	2,042	1,147	1,721	1,008	1,137	750	650	450	1,310	2,005
Other Investing Activities, net	-30	5.00	-42	-4.00	-42	-5.00	-47	3.00	-23	42	-
Net Cash From Financing Activities	-5,660	-5,475	-7,069	-5,311	-3,874	-4,379	-4,580	-3,919	-2,926	-6,347	-4,040
Net Cash From Continuing Financing Activities	-5,660	-5,475	-7,069	-5,311	-3,874	-4,379	-4,580	-3,919	-2,926	-6,347	-4,040
Repayment of Debt	-12	-186	-229	196	-126	329	33	-5.00	153	-2,231	-1,183
Repurchase of Common Equity	-4,596	-4,011	-5,848	-4,527	-2,758	-3,580	-3,751	-3,041	-2,194	-3,115	-2,103
Payment of Dividends	-1,164	-1,170	-1,041	-1,056	-1,060	-1,060	-928	-937	-941	-945	-794
Other Financing Activities, net	112	-108	49	76	70	-68	66	64	56	-56	40
Effect of Exchange Rate Changes	265	-508	308	-50	-176	300	-208	16	136	692	-562
Cash Interest Paid	48	213	49	273	48	213	49	275	49	244	59
Cash Income Taxes Paid	1,861	1,194	1,076	1,041	2,155	1,503	420	378	1,914	721	850

This table presents Visa's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016	9/30/2015
Total Assets	94,511	90,499	85,501	82,896	80,919	72,574	69,225	67,977	64,035	39,367
Total Current Assets	34,033	33,532	30,205	27,607	27,645	20,970	18,216	19,023	14,313	10,021
Cash & Equivalents	11,975	16,286	15,689	16,487	16,289	7,838	8,162	9,874	5,619	3,518
Restricted Cash	3,089	1,764	1,449	894	901	1,205	1,491	1,031	1,027	1,072
Short-Term Investments	3,200	3,842	2,833	2,025	3,752	4,236	3,547	3,564	3,319	2,497
Note & Lease Receivable	3,524	3,005	2,342	-	-	-	1,324	-	1,001	1,023
Accounts Receivable	2,561	2,291	2,020	1,968	1,618	1,542	1,208	1,132	1,041	847
Prepaid Expenses	3,312	2,584	2,668	856	757	712	562	550	555	353
Other Current Assets	6,372	3,760	3,204	5,377	4,328	5,437	1,922	2,872	1,751	711
Plant, Property, & Equipment, net	3,824	3,425	3,223	2,715	2,737	2,695	2,472	2,253	2,150	1,888
Total Noncurrent Assets	56,654	53,542	52,073	52,574	50,537	48,909	48,537	46,701	47,572	27,458
Long-Term Investments	2,545	1,921	2,136	1,705	231	2,157	4,082	1,926	3,931	3,384
Goodwill	18,941	17,997	17,787	15,958	15,910	15,656	15,194	15,110	15,066	11,825
Intangible Assets	26,889	26,104	25,065	27,664	27,808	26,780	27,558	27,848	27,234	11,361
Other Noncurrent Operating Assets	8,279	7,520	7,085	7,247	6,588	4,316	1,703	1,817	1,341	888
Total Liabilities & Shareholders' Equity	94,511	90,499	85,501	82,896	80,919	72,574	69,225	67,977	64,035	39,367
Total Liabilities	55,374	51,766	49,920	45,307	44,709	37,890	35,219	35,217	31,123	9,525
Total Current Liabilities	26,517	23,098	20,853	15,739	14,510	13,415	11,305	9,994	8,046	5,355
Short-Term Debt	0.00	-	2,250	999	2,999	0.00	-	1,749	0.00	-
Accounts Payable	479	375	340	266	174	156	183	179	203	127
Accrued Expenses	4,909	5,015	3,726	2,334	1,840	2,828	2,594	2,111	2,109	1,873
Current Deferred Revenue	3,524	3,005	2,342	2,260	1,850	1,648	1,325	1,106	1,001	1,023
Current Employee Benefit Liabilities	1,538	1,506	1,359	1,211	821	796	901	757	673	503
Other Current Liabilities	16,067	13,197	10,836	8,669	6,826	7,987	6,302	4,092	4,060	1,829
Total Noncurrent Liabilities	28,857	28,668	29,067	29,568	30,199	24,475	23,914	25,223	23,077	4,170
Long-Term Debt	20,836	20,463	20,200	19,978	21,071	16,729	16,630	16,618	15,882	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	5,301	5,114	5,332	6,128	5,237	4,807	4,618	5,980	4,808	3,273
Other Noncurrent Operating Liabilities	2,720	3,091	3,535	3,462	3,891	2,939	2,666	2,625	2,387	897
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	-	-	-	0.00
Total Equity & Noncontrolling Interests	39,137	38,733	35,581	37,589	36,210	34,684	34,006	32,760	32,912	29,842
Total Preferred & Common Equity	39,137	38,733	35,581	37,589	36,210	34,684	34,006	32,760	32,912	29,842
Preferred Stock	1,031	1,698	2,324	3,080	5,086	5,462	5,470	5,526	5,717	0.00
Total Common Equity	38,106	37,035	33,257	34,509	31,124	29,222	28,536	27,234	27,195	29,842
Common Stock	21,229	20,452	19,545	18,855	16,721	16,541	16,678	16,900	17,395	18,073
Retained Earnings	17,289	18,040	16,116	15,351	14,088	13,502	11,318	9,508	10,462	11,843
Accumulated Other Comprehensive Income / (Loss)	-308	-1,317	-2,369	436	354	-650	547	878	-458	-74
Other Equity Adjustments	-104	-140	-35	-133	-39	-171	-7.00	-52	-34	0.00

This table presents Visa's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	92,853	91,888	94,511	91,040	92,399	91,409	90,499	89,234	86,755	85,387	85,501
Total Current Assets	32,934	32,622	34,033	31,039	32,775	32,732	33,532	31,670	28,657	27,859	30,205
Cash & Equivalents	11,734	12,367	11,975	12,947	12,993	13,591	16,286	15,590	13,842	13,334	15,689
Restricted Cash	2,926	3,112	3,089	1,596	1,584	1,616	1,764	1,627	1,616	1,705	1,449
Short-Term Investments	2,017	1,967	3,200	3,697	4,710	5,005	3,842	3,166	2,752	2,785	2,833
Note & Lease Receivable	3,543	3,518	3,524	3,472	3,367	3,164	3,005	2,907	-	-	2,342
Accounts Receivable	2,719	2,590	2,561	2,521	2,272	2,506	2,291	2,282	2,122	2,113	2,020
Prepaid Expenses	3,576	3,393	3,312	2,857	2,551	2,753	2,584	2,119	2,167	1,802	2,668
Other Current Assets	6,419	5,675	6,372	3,949	5,298	4,097	3,760	3,979	6,158	6,120	3,204
Plant, Property, & Equipment, net	4,023	3,974	3,824	3,766	3,630	3,472	3,425	3,370	3,359	3,236	3,223
Total Noncurrent Assets	55,896	55,292	56,654	56,235	55,994	55,205	53,542	54,194	54,739	54,292	52,073
Long-Term Investments	1,470	1,757	2,545	3,037	3,092	2,809	1,921	2,122	2,840	2,735	2,136
Goodwill	19,641	19,548	18,941	18,816	18,837	18,120	17,997	18,082	18,078	18,024	17,787
Intangible Assets	26,408	25,889	26,889	26,243	26,375	26,739	26,104	26,576	26,574	26,307	25,065
Other Noncurrent Operating Assets	8,377	8,098	8,279	8,139	7,690	7,537	7,520	7,414	7,247	7,226	7,085
Total Liabilities & Shareholders' Equity	92,853	91,888	94,511	91,040	92,399	91,409	90,499	89,234	86,755	85,387	85,501
Total Liabilities	54,823	53,592	55,374	51,311	51,914	51,676	51,766	50,253	48,190	48,463	49,920
Total Current Liabilities	30,381	29,091	26,517	22,612	23,443	22,634	23,098	21,230	19,097	19,353	20,853
Short-Term Debt	3,948	3,929	0.00	-	-	-	-	0.00	0.00	0.00	2,250
Accounts Payable	421	405	479	331	338	348	375	281	280	258	340
Accrued Expenses	4,568	4,760	4,909	4,932	4,386	5,077	5,015	4,075	3,626	3,940	3,726
Current Deferred Revenue	3,543	3,518	3,524	3,472	3,367	3,164	3,005	2,907	2,739	2,591	2,342
Current Employee Benefit Liabilities	1,225	1,226	1,538	1,251	1,065	816	1,506	1,215	998	736	1,359
Other Current Liabilities	16,737	15,323	16,067	12,826	14,287	13,229	13,197	12,752	11,454	11,828	10,836
Total Noncurrent Liabilities	24,442	24,501	28,857	28,699	28,471	29,042	28,668	29,023	29,093	29,110	29,067
Long-Term Debt	16,814	16,680	20,836	20,602	20,603	20,703	20,463	20,560	20,606	20,487	20,200
Noncurrent Deferred & Payable Income Tax Liabilities	5,160	5,192	5,301	5,119	5,145	5,275	5,114	5,380	5,462	5,443	5,332
Other Noncurrent Operating Liabilities	2,468	2,629	2,720	2,978	2,723	3,064	3,091	3,083	3,025	3,180	3,535
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-	-	0.00
Total Equity & Noncontrolling Interests	38,030	38,296	39,137	39,729	40,485	39,733	38,733	38,981	38,565	36,924	35,581
Total Preferred & Common Equity	38,030	38,296	39,137	39,729	40,485	39,733	38,733	38,981	38,565	36,924	35,581
Preferred Stock	880	904	1,031	1,425	1,602	1,615	1,698	1,786	1,885	1,981	2,324
Total Common Equity	37,150	37,392	38,106	38,304	38,883	38,118	37,035	37,195	36,680	34,943	33,257
Common Stock	21,579	21,324	21,229	20,832	20,709	20,490	20,452	20,290	20,095	19,827	19,545
Retained Earnings	16,518	17,438	17,289	18,578	19,347	18,422	18,040	17,908	17,610	16,403	16,116
Accumulated Other Comprehensive Income / (Loss)	-827	-1,247	-308	-1,060	-998	-655	-1,317	-978	-990	-1,259	-2,369
Other Equity Adjustments	-120	-123	-104	-46	-175	-139	-140	-25	-35	-28	-35

This table displays calculated financial ratios and metrics derived from Visa's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016	9/30/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.02%	11.41%	21.59%	10.34%	-4.92%	11.49%	12.26%	21.72%	8.66%	9.27%
EBITDA Growth	12.70%	17.07%	15.86%	70.82%	-32.24%	13.95%	12.34%	40.71%	-0.02%	14.82%
EBIT Growth	13.27%	16.10%	12.66%	15.87%	-7.21%	14.90%	9.47%	45.24%	-6.21%	16.37%
NOPAT Growth	12.96%	11.13%	28.09%	9.17%	-8.87%	16.84%	49.78%	18.02%	-7.56%	17.67%
Net Income Growth	14.30%	15.48%	21.49%	13.30%	-10.05%	17.27%	53.77%	11.82%	-5.33%	16.37%
EPS Growth	17.51%	18.29%	24.33%	15.13%	-8.08%	20.36%	57.86%	-83.03%	539.53%	0.00%
Operating Cash Flow Growth	-3.88%	10.11%	23.79%	45.85%	-18.34%	-1.21%	38.90%	67.15%	-15.34%	-8.62%
Free Cash Flow Firm Growth	-11.23%	4.33%	23.84%	72.81%	-16.61%	-19.04%	65.64%	173.95%	-261.74%	-5.09%
Invested Capital Growth	10.43%	-1.51%	-4.09%	-4.22%	8.70%	7.86%	-3.97%	-0.48%	80.16%	2.22%
Revenue Q/Q Growth	2.89%	2.58%	4.37%	6.44%	-4.53%	3.16%	2.89%	3.34%	4.79%	2.53%
EBITDA Q/Q Growth	2.46%	4.15%	3.83%	59.41%	-32.53%	1.57%	3.24%	5.85%	4.87%	6.06%
EBIT Q/Q Growth	3.06%	3.79%	3.34%	7.97%	-4.22%	0.94%	3.40%	5.17%	4.47%	7.98%
NOPAT Q/Q Growth	3.66%	2.94%	3.46%	12.93%	-7.07%	2.58%	5.24%	3.00%	9.21%	7.36%
Net Income Q/Q Growth	3.33%	4.48%	2.44%	13.32%	-7.55%	1.51%	7.35%	3.22%	7.52%	7.45%
EPS Q/Q Growth	4.18%	4.94%	3.24%	13.51%	-6.86%	1.92%	8.33%	-20.68%	539.53%	-14.29%
Operating Cash Flow Q/Q Growth	-1.30%	5.33%	11.24%	14.04%	-15.71%	4.63%	4.86%	4.77%	14.79%	-0.89%
Free Cash Flow Firm Q/Q Growth	-6.98%	-0.73%	18.89%	22.29%	-10.43%	-9.60%	10.51%	-4.03%	6.53%	2.74%
Invested Capital Q/Q Growth	0.57%	-4.46%	-5.96%	-0.23%	2.72%	2.72%	-1.09%	0.68%	-0.76%	-0.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.56%	82.14%	82.98%	82.41%	82.67%	85.01%	84.62%	85.68%	85.24%	85.02%
EBITDA Margin	109.54%	106.95%	101.77%	106.81%	69.00%	96.82%	94.73%	94.66%	81.89%	89.00%
Operating Margin	65.68%	64.31%	64.19%	65.56%	64.46%	65.29%	62.86%	66.15%	52.27%	65.30%
EBIT Margin	68.35%	66.40%	63.71%	68.77%	65.49%	67.10%	65.11%	66.77%	55.95%	64.83%
Profit (Net Income) Margin	54.95%	52.90%	51.03%	51.07%	49.74%	52.57%	49.98%	36.49%	39.72%	45.59%
Tax Burden Percent	82.55%	82.11%	82.47%	76.64%	78.80%	81.16%	80.44%	57.29%	74.78%	70.35%
Interest Burden Percent	97.39%	97.03%	97.12%	96.91%	96.39%	96.54%	95.44%	95.41%	94.94%	99.97%
Effective Tax Rate	17.45%	17.89%	17.53%	23.36%	21.20%	18.84%	19.56%	42.71%	25.22%	29.65%
Return on Invested Capital (ROIC)	52.32%	48.36%	42.29%	31.64%	29.55%	35.12%	30.61%	19.98%	21.72%	33.28%
ROIC Less NNEP Spread (ROIC-NNEP)	36.79%	46.34%	-492.00%	46.01%	18.61%	5.49%	12.57%	6.96%	19.45%	33.79%
Return on Net Nonoperating Assets (RNNOA)	-1.61%	-1.88%	-1.41%	1.72%	1.10%	0.05%	0.25%	0.42%	-2.63%	-11.18%
Return on Equity (ROE)	50.71%	46.49%	40.88%	33.36%	30.65%	35.17%	30.86%	20.40%	19.09%	22.10%
Cash Return on Invested Capital (CROIC)	42.41%	49.88%	46.46%	35.96%	21.22%	27.55%	34.66%	20.46%	-35.50%	31.08%
Operating Return on Assets (OROA)	26.55%	24.64%	22.18%	20.24%	18.64%	21.74%	19.56%	18.57%	16.32%	23.09%
Return on Assets (ROA)	21.34%	19.63%	17.76%	15.03%	14.16%	17.04%	15.02%	10.15%	11.59%	16.24%
Return on Common Equity (ROCE)	48.93%	43.97%	37.86%	29.67%	26.09%	29.57%	25.78%	16.91%	17.35%	22.10%
Return on Equity Simple (ROE_SIMPLE)	50.45%	44.60%	42.04%	32.75%	30.01%	34.83%	30.29%	20.45%	18.20%	21.21%
Net Operating Profit after Tax (NOPAT)	19,478	17,243	15,515	12,112	11,095	12,175	10,420	6,957	5,895	6,377
NOPAT Margin	54.22%	52.81%	52.94%	50.25%	50.79%	52.99%	50.56%	37.90%	39.08%	45.94%
Net Nonoperating Expense Percent (NNEP)	15.53%	2.02%	534.29%	-14.37%	10.95%	29.63%	18.04%	13.03%	2.27%	-0.51%
Cost of Revenue to Revenue	17.44%	17.86%	17.02%	17.59%	17.33%	14.99%	15.38%	14.32%	14.76%	14.98%
SG&A Expenses to Revenue	8.38%	8.00%	8.33%	8.79%	10.21%	10.32%	11.05%	11.38%	11.42%	9.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.89%	17.83%	18.79%	16.85%	18.22%	19.72%	21.76%	19.53%	32.97%	19.72%
Earnings before Interest and Taxes (EBIT)	24,557	21,681	18,674	16,576	14,306	15,417	13,418	12,257	8,439	8,998
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	39,355	34,921	29,830	25,747	15,073	22,246	19,522	17,378	12,350	12,353
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	13.12	11.45	9.90	12.23	12.10	11.25	10.24	7.67	6.17	4.85
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	21.73
Price to Revenue (P/Rev)	13.92	12.99	11.23	17.51	17.24	14.31	14.18	11.38	11.12	10.42
Price to Earnings (P/E)	25.33	24.55	22.01	34.29	34.65	27.21	28.37	31.19	28.00	22.86
Dividend Yield	0.76%	0.99%	0.86%	0.59%	0.62%	0.60%	0.57%	0.66%	0.72%	0.74%
Earnings Yield	3.95%	4.07%	4.54%	2.92%	2.89%	3.67%	3.53%	3.21%	3.57%	4.38%
Enterprise Value to Invested Capital (EV/IC)	12.83	11.94	9.24	11.35	9.83	9.32	8.90	6.23	5.03	6.93
Enterprise Value to Revenue (EV/Rev)	13.95	12.94	11.32	17.63	17.60	14.60	14.41	11.79	11.63	9.67
Enterprise Value to EBITDA (EV/EBITDA)	12.73	12.10	11.12	16.51	25.51	15.08	15.21	12.45	14.21	10.86
Enterprise Value to EBIT (EV/EBIT)	20.41	19.48	17.77	25.64	26.88	21.76	22.14	17.66	20.79	14.91
Enterprise Value to NOPAT (EV/NOPAT)	25.73	24.50	21.39	35.09	34.65	27.55	28.50	31.11	29.77	21.04
Enterprise Value to Operating Cash Flow (EV/OCF)	25.12	20.35	17.60	27.91	36.83	26.24	22.95	23.23	31.48	20.38
Enterprise Value to Free Cash Flow (EV/FCFF)	31.74	23.75	19.47	30.88	48.27	35.12	25.17	30.38	0.00	22.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.53	0.53	0.63	0.56	0.66	0.48	0.49	0.56	0.48	0.00
Long-Term Debt to Equity	0.53	0.53	0.57	0.53	0.58	0.48	0.49	0.51	0.48	0.00
Financial Leverage	-0.04	-0.04	0.00	0.04	0.06	0.01	0.02	0.06	-0.14	-0.33
Leverage Ratio	2.38	2.37	2.30	2.22	2.17	2.06	2.06	2.01	1.65	1.36
Compound Leverage Factor	2.31	2.30	2.24	2.15	2.09	1.99	1.96	1.92	1.56	1.36
Debt to Total Capital	34.74%	34.57%	38.69%	35.82%	39.93%	32.54%	32.84%	35.92%	32.55%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	3.88%	1.71%	4.98%	0.00%	0.00%	3.42%	0.00%	0.00%
Long-Term Debt to Total Capital	34.74%	34.57%	34.81%	34.11%	34.96%	32.54%	32.84%	32.50%	32.55%	0.00%
Preferred Equity to Total Capital	1.72%	2.87%	4.00%	5.26%	8.44%	10.62%	10.80%	10.81%	11.72%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.54%	62.56%	57.31%	58.92%	51.63%	56.84%	56.36%	53.27%	55.73%	100.00%
Debt to EBITDA	0.53	0.59	0.75	0.81	1.60	0.75	0.85	1.06	1.29	0.00
Net Debt to EBITDA	0.00	-0.10	0.01	-0.01	0.19	0.06	-0.03	0.11	0.16	0.00
Long-Term Debt to EBITDA	0.53	0.59	0.68	0.78	1.40	0.75	0.85	0.96	1.29	0.00
Debt to NOPAT	1.07	1.19	1.45	1.73	2.17	1.37	1.60	2.64	2.69	0.00
Net Debt to NOPAT	0.00	-0.19	0.02	-0.01	0.26	0.11	-0.06	0.28	0.34	0.00
Long-Term Debt to NOPAT	1.07	1.19	1.30	1.65	1.90	1.37	1.60	2.39	2.69	0.00
Altman Z-Score	7.01	6.48	5.41	6.97	6.34	6.61	6.26	4.78	4.25	10.78
Noncontrolling Interest Sharing Ratio	3.50%	5.41%	7.39%	11.07%	14.88%	15.92%	16.47%	17.12%	9.11%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.45	1.45	1.75	1.91	1.56	1.61	1.90	1.78	1.87
Quick Ratio	0.80	1.10	1.10	1.30	1.49	1.02	1.26	1.46	1.36	1.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	15,787	17,784	17,046	13,764	7,965	9,552	11,798	7,123	-9,632	5,956
Operating Cash Flow to CapEx	1,587.11%	1,959.87%	1,943.20%	2,159.86%	1,418.48%	1,691.01%	1,802.37%	1,340.58%	1,065.77%	1,629.70%
Free Cash Flow to Firm to Interest Expense	24.63	27.61	31.68	26.83	15.44	17.92	19.28	12.65	-22.56	1,985.18
Operating Cash Flow to Interest Expense	31.12	32.23	35.04	29.68	20.23	23.99	21.15	16.55	13.05	2,194.67
Operating Cash Flow Less CapEx to Interest Expense	29.16	30.58	33.23	28.31	18.81	22.57	19.97	15.31	11.83	2,060.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.39	0.37	0.35	0.29	0.28	0.32	0.30	0.28	0.29	0.36
Accounts Receivable Turnover	14.81	15.15	14.70	13.44	13.83	16.71	17.61	16.90	15.98	16.63
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.91	9.82	9.87	8.84	8.04	8.89	8.72	8.34	7.47	7.34
Accounts Payable Turnover	14.67	16.31	16.47	19.27	22.94	20.32	17.51	13.76	13.49	15.18
Days Sales Outstanding (DSO)	24.65	24.09	24.83	27.15	26.40	21.84	20.72	21.60	22.85	21.94
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	24.88	22.38	22.16	18.94	15.91	17.96	20.84	26.53	27.06	24.05
Cash Conversion Cycle (CCC)	-0.23	1.72	2.67	8.21	10.49	3.88	-0.12	-4.93	-4.21	-2.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	39,074	35,383	35,924	37,455	39,107	35,977	33,354	34,732	34,898	19,371
Invested Capital Turnover	0.97	0.92	0.80	0.63	0.58	0.66	0.61	0.53	0.56	0.72
Increase / (Decrease) in Invested Capital	3,691	-541	-1,531	-1,652	3,130	2,623	-1,378	-166	15,527	421
Enterprise Value (EV)	501,150	422,439	331,823	425,036	384,502	335,475	297,015	216,419	175,455	134,162
Market Capitalization	500,092	424,091	329,156	422,090	376,519	328,720	292,197	208,921	167,752	144,633
Book Value per Share	$20.91	$19.89	$17.59	$17.76	$16.02	$14.73	$14.03	$13.04	$12.65	$13.47
Tangible Book Value per Share	($4.24)	($3.80)	($5.08)	($4.69)	($6.48)	($6.66)	($6.99)	($7.53)	($7.03)	$3.00
Total Capital	59,973	59,196	58,031	58,566	60,280	51,413	50,636	51,127	48,794	29,842
Total Debt	20,836	20,463	22,450	20,977	24,070	16,729	16,630	18,367	15,882	0.00
Total Long-Term Debt	20,836	20,463	20,200	19,978	21,071	16,729	16,630	16,618	15,882	0.00
Net Debt	27	-3,350	343	-134	2,897	1,293	-652	1,972	1,986	-10,471
Capital Expenditures (CapEx)	1,257	1,059	970	705	736	756	718	695	523	404
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-10,748	-11,458	-8,369	-6,539	-4,808	-5,724	-6,289	-3,691	-3,698	-2,421
Debt-free Net Working Capital (DFNWC)	7,516	10,434	11,602	12,867	16,134	7,555	6,911	10,778	6,267	4,666
Net Working Capital (NWC)	7,516	10,434	9,352	11,868	13,135	7,555	6,911	9,029	6,267	4,666
Net Nonoperating Expense (NNE)	-265	-30	558	-199	229	95	119	258	-96	49
Net Nonoperating Obligations (NNO)	-63	-3,350	343	-134	2,897	1,293	-652	1,972	1,986	-10,471
Total Depreciation and Amortization (D&A)	14,798	13,240	11,156	9,171	767	6,829	6,104	5,121	3,911	3,355
Debt-free, Cash-free Net Working Capital to Revenue	-29.92%	-35.09%	-28.55%	-27.13%	-22.01%	-24.91%	-30.52%	-20.11%	-24.52%	-17.44%
Debt-free Net Working Capital to Revenue	20.92%	31.95%	39.58%	53.38%	73.85%	32.88%	33.53%	58.71%	41.55%	33.62%
Net Working Capital to Revenue	20.92%	31.95%	31.91%	49.23%	60.13%	32.88%	33.53%	49.18%	41.55%	33.62%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$9.74	$8.29	$7.01	$5.63	$4.90	$5.32	$4.43	$2.80	$16.53	$0.00
Adjusted Weighted Average Basic Shares Outstanding	1.62B	1.62B	1.65B	1.69B	1.70B	1.74B	1.79B	1.85B	2.17B	0.00
Adjusted Diluted Earnings per Share	$9.73	$8.28	$7.00	$5.63	$4.89	$5.32	$4.42	$2.80	$16.50	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	2.03B	2.09B	2.14B	2.19B	2.22B	2.27B	2.33B	2.40B	2.68B	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.86B	1.84B	1.88B	1.93B	1.95B	1.97B	2.02B	2.07B	2.13B	0.00
Normalized Net Operating Profit after Tax (NOPAT)	19,859	18,004	16,231	12,115	11,104	12,500	10,908	6,968	7,300	6,386
Normalized NOPAT Margin	55.28%	55.14%	55.38%	50.26%	50.83%	54.40%	52.93%	37.95%	48.40%	46.01%
Pre Tax Income Margin	66.57%	64.43%	61.88%	66.64%	63.12%	64.78%	62.14%	63.70%	53.12%	64.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	38.31	33.67	34.71	32.31	27.72	28.93	21.92	21.77	19.76	2,999.33
NOPAT to Interest Expense	30.39	26.77	28.84	23.61	21.50	22.84	17.03	12.36	13.80	2,125.51
EBIT Less CapEx to Interest Expense	36.35	32.02	32.91	30.94	26.30	27.51	20.75	20.54	18.54	2,864.67
NOPAT Less CapEx to Interest Expense	28.43	25.13	27.04	22.24	20.08	21.42	15.85	11.12	12.58	1,990.85
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.36%	21.72%	21.41%	22.73%	24.52%	18.78%	18.62%	23.57%	22.53%	18.60%
Augmented Payout Ratio	106.01%	91.77%	98.90%	93.20%	99.19%	90.03%	88.44%	126.44%	142.00%	64.59%

This table displays calculated financial ratios and metrics derived from Visa's official financial filings.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.33%	10.15%	11.71%	9.57%	9.89%	8.80%	10.56%	11.66%	11.07%	12.42%	18.72%
EBITDA Growth	5.87%	6.48%	9.95%	14.31%	6.33%	20.88%	17.16%	29.53%	16.02%	6.93%	15.70%
EBIT Growth	0.02%	2.46%	12.53%	16.08%	3.23%	21.80%	15.75%	35.23%	15.91%	1.65%	13.66%
NOPAT Growth	1.01%	6.81%	14.95%	19.05%	5.22%	12.75%	11.96%	9.80%	11.62%	10.69%	14.43%
Net Income Growth	-1.84%	4.68%	13.61%	17.23%	9.54%	17.01%	18.81%	21.84%	16.73%	5.56%	9.93%
EPS Growth	1.31%	7.95%	17.26%	20.00%	12.81%	20.10%	20.86%	25.00%	19.41%	8.74%	13.33%
Operating Cash Flow Growth	3.46%	49.31%	-3.80%	-11.44%	17.56%	-13.35%	17.89%	10.38%	10.63%	-1.44%	47.97%
Free Cash Flow Firm Growth	-31.49%	-31.15%	-68.78%	-42.29%	-39.30%	-20.95%	-8.81%	71.89%	143.98%	-2.77%	7.58%
Invested Capital Growth	4.84%	5.93%	10.43%	4.91%	1.54%	1.53%	-1.51%	-3.04%	-5.43%	-2.92%	-4.09%
Revenue Q/Q Growth	0.88%	-1.11%	8.06%	1.42%	1.63%	0.29%	5.98%	1.73%	0.62%	1.91%	7.04%
EBITDA Q/Q Growth	-7.90%	0.10%	4.73%	9.65%	-7.36%	3.36%	8.88%	2.00%	5.32%	0.17%	20.37%
EBIT Q/Q Growth	-12.32%	-2.54%	5.87%	10.55%	-10.18%	7.05%	9.22%	-1.70%	5.98%	1.73%	27.59%
NOPAT Q/Q Growth	-11.12%	-2.86%	9.69%	6.67%	-6.02%	4.54%	13.61%	-5.72%	0.70%	3.80%	11.42%
Net Income Q/Q Growth	-10.59%	-3.74%	9.15%	4.48%	-4.64%	4.46%	12.63%	-2.37%	1.87%	6.07%	15.51%
EPS Q/Q Growth	-10.08%	-2.64%	10.42%	4.80%	-4.18%	5.75%	13.00%	-1.48%	2.01%	6.42%	16.88%
Operating Cash Flow Q/Q Growth	-12.99%	-19.03%	29.80%	13.13%	25.57%	-47.83%	19.49%	50.18%	-7.46%	-29.02%	11.88%
Free Cash Flow Firm Q/Q Growth	-7.87%	82.24%	-46.63%	-23.55%	-7.41%	-17.37%	-1.34%	-19.58%	20.58%	-4.68%	85.97%
Invested Capital Q/Q Growth	2.40%	1.43%	0.57%	0.37%	3.46%	5.74%	-4.46%	-2.85%	3.44%	2.58%	-5.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.73%	80.94%	83.27%	82.33%	81.73%	82.87%	82.60%	81.77%	81.03%	83.15%	82.59%
EBITDA Margin	100.43%	110.00%	108.67%	112.12%	103.72%	113.78%	110.41%	107.47%	107.19%	102.41%	104.19%
Operating Margin	56.65%	65.55%	66.02%	66.72%	61.01%	68.96%	64.47%	61.85%	66.83%	64.14%	65.33%
EBIT Margin	58.33%	67.11%	68.09%	69.49%	63.76%	72.15%	67.59%	65.59%	67.88%	64.44%	64.56%
Profit (Net Income) Margin	47.71%	53.83%	55.30%	54.74%	53.14%	56.64%	54.37%	51.16%	53.31%	52.66%	50.60%
Tax Burden Percent	84.17%	82.56%	83.46%	81.35%	84.58%	80.93%	83.06%	80.76%	80.66%	83.97%	80.94%
Interest Burden Percent	97.18%	97.15%	97.31%	96.83%	98.53%	97.00%	96.86%	96.58%	97.38%	97.32%	96.84%
Effective Tax Rate	15.83%	17.44%	16.54%	18.65%	15.42%	19.07%	16.94%	19.24%	19.34%	16.03%	19.06%
Return on Invested Capital (ROIC)	45.24%	51.70%	53.17%	49.95%	45.87%	50.13%	49.04%	42.27%	42.58%	43.46%	42.24%
ROIC Less NNEP Spread (ROIC-NNEP)	45.89%	57.42%	52.05%	47.00%	33.75%	44.17%	44.29%	67.83%	40.17%	32.27%	-127.38%
Return on Net Nonoperating Assets (RNNOA)	0.45%	-0.72%	-2.28%	-1.68%	-0.95%	-1.38%	-1.79%	0.70%	2.09%	0.75%	-0.36%
Return on Equity (ROE)	45.70%	50.98%	50.89%	48.26%	44.92%	48.75%	47.25%	42.97%	44.67%	44.21%	41.87%
Cash Return on Invested Capital (CROIC)	45.34%	45.66%	42.41%	44.73%	45.37%	46.39%	49.88%	47.62%	47.34%	45.57%	46.46%
Operating Return on Assets (OROA)	23.69%	26.95%	26.44%	26.92%	24.30%	27.22%	25.08%	23.91%	24.95%	23.25%	22.47%
Return on Assets (ROA)	19.38%	21.61%	21.48%	21.21%	20.25%	21.37%	20.18%	18.65%	19.60%	19.00%	17.61%
Return on Common Equity (ROCE)	44.25%	49.34%	49.11%	46.29%	42.94%	46.46%	44.69%	40.29%	41.75%	41.20%	38.78%
Return on Equity Simple (ROE_SIMPLE)	52.29%	52.15%	0.00%	48.09%	45.42%	45.26%	0.00%	42.41%	40.94%	41.10%	0.00%
Net Operating Profit after Tax (NOPAT)	4,574	5,147	5,299	4,831	4,529	4,819	4,610	4,057	4,304	4,274	4,117
NOPAT Margin	47.68%	54.12%	55.10%	54.28%	51.61%	55.81%	53.54%	49.95%	53.90%	53.85%	52.87%
Net Nonoperating Expense Percent (NNEP)	-0.65%	-5.72%	1.12%	2.94%	12.12%	5.96%	4.75%	-25.56%	2.41%	11.19%	169.62%
Return On Investment Capital (ROIC_SIMPLE)	7.78%	8.74%	-	-	-	7.97%	-	-	-	-	-
Cost of Revenue to Revenue	17.27%	19.06%	16.73%	17.67%	18.27%	17.13%	17.40%	18.23%	18.97%	16.85%	17.41%
SG&A Expenses to Revenue	8.51%	8.74%	8.57%	8.25%	9.13%	7.55%	9.08%	7.74%	7.40%	7.67%	8.81%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.08%	15.38%	17.25%	15.61%	20.72%	13.91%	18.13%	19.92%	14.20%	19.01%	17.26%
Earnings before Interest and Taxes (EBIT)	5,596	6,382	6,548	6,185	5,595	6,229	5,819	5,328	5,420	5,114	5,027
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9,635	10,461	10,451	9,979	9,101	9,824	9,505	8,730	8,559	8,127	8,113
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	17.53	15.75	13.12	12.51	13.13	12.62	11.45	11.84	11.42	11.05	9.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	17.31	16.00	13.92	13.72	14.95	14.42	12.99	13.84	13.52	12.79	11.23
Price to Earnings (P/E)	32.74	29.48	25.33	25.07	27.76	26.75	24.55	26.65	26.54	25.43	22.01
Dividend Yield	0.63%	0.68%	0.76%	0.77%	0.70%	0.72%	0.99%	0.92%	0.94%	0.99%	0.86%
Earnings Yield	3.05%	3.39%	3.95%	3.99%	3.60%	3.74%	4.07%	3.75%	3.77%	3.93%	4.54%
Enterprise Value to Invested Capital (EV/IC)	16.13	14.91	12.83	12.35	13.19	12.84	11.94	11.89	11.03	10.53	9.24
Enterprise Value to Revenue (EV/Rev)	17.40	16.06	13.95	13.74	14.95	14.40	12.94	13.84	13.57	12.85	11.32
Enterprise Value to EBITDA (EV/EBITDA)	16.15	14.78	12.73	12.49	13.73	13.12	12.10	13.14	13.33	12.78	11.12
Enterprise Value to EBIT (EV/EBIT)	26.49	23.92	20.41	20.14	22.22	21.07	19.48	21.08	21.56	20.68	17.77
Enterprise Value to NOPAT (EV/NOPAT)	32.98	29.84	25.73	25.54	28.33	27.00	24.50	26.29	25.67	24.34	21.39
Enterprise Value to Operating Cash Flow (EV/OCF)	29.90	27.20	25.12	23.74	24.45	23.78	20.35	22.35	21.94	20.65	17.60
Enterprise Value to Free Cash Flow (EV/FCFF)	36.41	33.60	31.74	28.27	29.29	27.88	23.75	24.59	22.65	22.76	19.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.54	0.53	0.52	0.51	0.52	0.53	0.53	0.53	0.55	0.63
Long-Term Debt to Equity	0.44	0.44	0.53	0.52	0.51	0.52	0.53	0.53	0.53	0.55	0.57
Financial Leverage	0.01	-0.01	-0.04	-0.04	-0.03	-0.03	-0.04	0.01	0.05	0.02	0.00
Leverage Ratio	2.36	2.35	2.38	2.29	2.27	2.31	2.37	2.35	2.26	2.29	2.30
Compound Leverage Factor	2.29	2.28	2.31	2.22	2.23	2.24	2.29	2.27	2.20	2.23	2.23
Debt to Total Capital	35.31%	34.99%	34.74%	34.15%	33.73%	34.26%	34.57%	34.53%	34.82%	35.68%	38.69%
Short-Term Debt to Total Capital	6.72%	6.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.88%
Long-Term Debt to Total Capital	28.60%	28.32%	34.74%	34.15%	33.73%	34.26%	34.57%	34.53%	34.82%	35.68%	34.81%
Preferred Equity to Total Capital	1.50%	1.53%	1.72%	2.36%	2.62%	2.67%	2.87%	3.00%	3.19%	3.45%	4.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.19%	63.48%	63.54%	63.49%	63.65%	63.07%	62.56%	62.47%	61.99%	60.86%	57.31%
Debt to EBITDA	0.51	0.52	0.53	0.54	0.55	0.57	0.59	0.61	0.65	0.67	0.75
Net Debt to EBITDA	0.06	0.04	0.00	-0.02	-0.05	-0.06	-0.10	-0.06	-0.01	0.00	0.01
Long-Term Debt to EBITDA	0.41	0.42	0.53	0.54	0.55	0.57	0.59	0.61	0.65	0.67	0.68
Debt to NOPAT	1.05	1.04	1.07	1.10	1.14	1.16	1.19	1.23	1.26	1.29	1.45
Net Debt to NOPAT	0.13	0.07	0.00	-0.04	-0.10	-0.13	-0.19	-0.12	-0.03	0.00	0.02
Long-Term Debt to NOPAT	0.85	0.84	1.07	1.10	1.14	1.16	1.19	1.23	1.26	1.29	1.30
Altman Z-Score	8.01	7.53	6.38	6.61	6.88	6.59	5.91	6.24	6.20	5.72	4.89
Noncontrolling Interest Sharing Ratio	3.16%	3.23%	3.50%	4.08%	4.41%	4.69%	5.41%	6.23%	6.53%	6.81%	7.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.12	1.28	1.37	1.40	1.45	1.45	1.49	1.50	1.44	1.45
Quick Ratio	0.66	0.70	0.80	1.00	1.00	1.07	1.10	1.13	0.98	0.94	1.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,699	2,930	1,608	3,013	3,941	4,256	5,151	5,220	6,492	5,384	5,648
Operating Cash Flow to CapEx	1,435.78%	1,564.06%	2,156.63%	1,283.50%	1,614.95%	1,353.56%	2,271.15%	1,965.08%	1,838.10%	1,675.10%	1,991.86%
Free Cash Flow to Firm to Interest Expense	17.09	16.10	9.14	15.37	48.06	22.76	28.15	28.68	45.72	39.30	35.52
Operating Cash Flow to Interest Expense	29.72	29.65	37.86	26.19	55.34	19.33	37.85	31.85	27.18	30.45	36.96
Operating Cash Flow Less CapEx to Interest Expense	27.65	27.75	36.11	24.15	51.91	17.90	36.19	30.23	25.70	28.63	35.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.40	0.39	0.39	0.38	0.38	0.37	0.36	0.37	0.36	0.35
Accounts Receivable Turnover	15.08	14.44	14.81	14.54	15.54	14.44	15.15	14.79	14.56	14.10	14.70
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	9.83	9.89	9.91	9.79	9.77	9.94	9.82	9.77	9.56	9.83	9.87
Accounts Payable Turnover	17.53	17.52	14.67	20.11	19.61	19.71	16.31	22.35	23.77	20.40	16.47
Days Sales Outstanding (DSO)	24.21	25.27	24.65	25.10	23.49	25.28	24.09	24.67	25.08	25.88	24.83
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	20.82	20.83	24.88	18.15	18.61	18.52	22.38	16.33	15.36	17.89	22.16
Cash Conversion Cycle (CCC)	3.39	4.44	-0.23	6.95	4.88	6.76	1.72	8.34	9.72	7.99	2.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	40,584	39,632	39,074	38,854	38,709	37,415	35,383	37,036	38,121	36,852	35,924
Invested Capital Turnover	0.95	0.96	0.97	0.92	0.89	0.90	0.92	0.85	0.79	0.81	0.80
Increase / (Decrease) in Invested Capital	1,875	2,217	3,691	1,818	588	563	-541	-1,163	-2,188	-1,110	-1,531
Enterprise Value (EV)	654,572	591,053	501,150	479,831	510,389	480,350	422,439	440,413	420,436	387,928	331,823
Market Capitalization	651,077	588,743	500,092	479,081	510,563	481,053	424,091	440,572	418,995	386,019	329,156
Book Value per Share	$20.00	$20.07	$20.91	$20.94	$21.17	$24.06	$19.89	$19.86	$19.51	$18.55	$17.59
Tangible Book Value per Share	($4.79)	($4.32)	($4.24)	($3.69)	($3.45)	($4.26)	($3.80)	($3.98)	($4.24)	($4.98)	($5.08)
Total Capital	58,792	58,905	59,973	60,331	61,088	60,436	59,196	59,541	59,171	57,411	58,031
Total Debt	20,762	20,609	20,836	20,602	20,603	20,703	20,463	20,560	20,606	20,487	22,450
Total Long-Term Debt	16,814	16,680	20,836	20,602	20,603	20,703	20,463	20,560	20,606	20,487	20,200
Net Debt	2,615	1,406	27	-675	-1,776	-2,318	-3,350	-1,945	-444	-72	343
Capital Expenditures (CapEx)	327	345	309	400	281	267	305	295	210	249	295
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-10,176	-9,986	-10,748	-9,813	-9,955	-10,114	-11,458	-9,943	-8,650	-9,318	-8,369
Debt-free Net Working Capital (DFNWC)	6,501	7,460	7,516	8,427	9,332	10,098	10,434	10,440	9,560	8,506	11,602
Net Working Capital (NWC)	2,553	3,531	7,516	8,427	9,332	10,098	10,434	10,440	9,560	8,506	9,352
Net Nonoperating Expense (NNE)	-2.53	28	-19	-41	-134	-71	-71	-99	47	95	177
Net Nonoperating Obligations (NNO)	2,554	1,336	-63	-875	-1,776	-2,318	-3,350	-1,945	-444	-72	343
Total Depreciation and Amortization (D&A)	4,039	4,079	3,903	3,794	3,506	3,595	3,686	3,402	3,139	3,013	3,086
Debt-free, Cash-free Net Working Capital to Revenue	-27.05%	-27.13%	-29.92%	-28.10%	-29.16%	-30.33%	-35.09%	-31.24%	-27.92%	-30.87%	-28.55%
Debt-free Net Working Capital to Revenue	17.28%	20.27%	20.92%	24.13%	27.33%	30.28%	31.95%	32.80%	30.86%	28.18%	39.58%
Net Working Capital to Revenue	6.79%	9.59%	20.92%	24.13%	27.33%	30.28%	31.95%	32.80%	30.86%	28.18%	31.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.32	$2.58	$2.66	$2.40	$2.29	$2.39	$2.26	$2.00	$2.04	$1.99	$1.87
Adjusted Weighted Average Basic Shares Outstanding	1.72B	1.73B	1.62B	1.61B	1.58B	1.58B	1.62B	1.61B	1.62B	1.63B	1.65B
Adjusted Diluted Earnings per Share	$2.32	$2.58	$2.65	$2.40	$2.29	$2.39	$2.26	$2.00	$2.03	$1.99	$1.87
Adjusted Weighted Average Diluted Shares Outstanding	1.97B	1.99B	2.03B	2.03B	2.04B	2.05B	2.09B	2.08B	2.09B	2.10B	2.14B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.85B	1.86B	1.86B	1.82B	1.83B	1.84B	1.84B	1.86B	1.87B	1.88B	1.88B
Normalized Net Operating Profit after Tax (NOPAT)	5,416	5,183	5,307	4,841	4,892	4,826	4,717	4,427	4,304	4,560	4,120
Normalized NOPAT Margin	56.45%	54.50%	55.19%	54.39%	55.75%	55.90%	54.79%	54.49%	53.90%	57.46%	52.90%
Pre Tax Income Margin	56.68%	65.19%	66.26%	67.29%	62.83%	69.98%	65.47%	63.35%	66.10%	62.71%	62.51%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	35.42	35.07	37.20	31.56	68.23	33.31	31.80	29.27	38.17	37.33	31.62
NOPAT to Interest Expense	28.95	28.28	30.11	24.65	55.23	25.77	25.19	22.29	30.31	31.20	25.89
EBIT Less CapEx to Interest Expense	33.35	33.17	35.45	29.52	64.80	31.88	30.13	27.65	36.69	35.51	29.76
NOPAT Less CapEx to Interest Expense	26.88	26.39	28.35	22.60	51.80	24.34	23.52	20.67	28.83	29.38	24.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.28%	21.67%	21.36%	21.48%	21.67%	21.50%	21.72%	21.88%	22.03%	22.00%	21.41%
Augmented Payout Ratio	117.74%	107.51%	106.01%	97.98%	93.07%	91.37%	91.77%	85.11%	84.39%	91.84%	98.90%

Frequently Asked Questions About Visa's Financials

When does Visa's financial year end?

According to the most recent income statement we have on file, Visa's fiscal year ends in September. Their fiscal year 2024 ended on September 30, 2024.

How has Visa's net income changed over the last 9 years?

Visa's net income appears to be on an upward trend, with a most recent value of $19.74 billion in 2024, rising from $6.33 billion in 2015. The previous period was $17.27 billion in 2023. See Visa's forecast for analyst expectations on what’s next for the company.

What is Visa's operating income?

Visa's total operating income in 2024 was $23.60 billion, based on the following breakdown:

Total Gross Profit: $29.66 billion
Total Operating Expenses: $6.07 billion

How has Visa revenue changed over the last 9 years?

Over the last 9 years, Visa's total revenue changed from $13.88 billion in 2015 to $35.93 billion in 2024, a change of 158.8%.

How much debt does Visa have?

Visa's total liabilities were at $55.37 billion at the end of 2024, a 7.0% increase from 2023, and a 481.4% increase since 2015.

How much cash does Visa have?

In the past 9 years, Visa's cash and equivalents has ranged from $3.52 billion in 2015 to $16.49 billion in 2021, and is currently $11.98 billion as of their latest financial filing in 2024.

How has Visa's book value per share changed over the last 9 years?

Over the last 9 years, Visa's book value per share changed from 13.47 in 2015 to 20.91 in 2024, a change of 55.3%.

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This page (NYSE:V) was last updated on 5/29/2025 by MarketBeat.com Staff

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