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Monday 26 October 2026 Export V’s income statement to Excel — free account

Visa Inc.

V Financial Credit Services

Visa Inc.’s revenue for fiscal 2025 (year ended September 2025) was $40.0 billion, up 11.3% from fiscal 2024. In the quarter to June 2026, revenue grew 14.4%, EPS grew 10.4%, free cash flow fell 2.73% and total debt fell 5.09%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years, revenue growth for five.

407.92 6.42 −1.55%
Market cap
$761.6B
P/E
33.4×
Fwd P/E
32.6×
Dividend yield
0.66%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings
Receivables outpacing revenue
All filings →

Insider Decisions trades per month

Total sells 86.28
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 4 4 1 — 1 1 1 1 3 3 2 1
Insider Ownership 4.55%

Capital & Financial Ratios $m

Market Cap 761,600.00
Revenue 44,488.00
Net Income 22,592.00
Free Cash Flow 21,013.00
Net Debt 9,178.00
Current Ratio 0.99
Debt/Equity 0.68
P/E ratio 33.40
Fwd P/E 32.60
P/S ratio 16.33 (above 10: high)
P/B ratio 20.95
Past 5Y EPS Growth 15.84% (at or above 15%: strong)
This Y EPS Growth 15.34% (at or above 15%: strong)
Next Y EPS Growth 13.69%
Next Y revenue growth 14.46% (at or above 10%: strong)
Next 5Y EPS Growth 14.18%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 52.87%
10-year low 10-year high
P/S against its own 10 years 78.37%
10-year low 10-year high
P/B against its own 10 years 99.93%
10-year low 10-year high

Dividends

Payout Ratio 0.23
Annual Dividend Rate 2.68
Annual Dividend Yield 0.66%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.70
0.67
0.67
0.67
2025 2.44
0.59
0.59
0.59
0.67
2024 2.15
0.52
0.52
0.52
0.59
2023 1.87
0.45
0.45
0.45
0.52
2022 1.58
0.38
0.38
0.38
0.45
2021 1.34
0.32
0.32
0.32
0.38
2020 1.22
0.30
0.30
0.30
0.32
2019 1.05
0.25
0.25
0.25
0.30
2018 0.88
0.21
0.21
0.21
0.25
2017 0.69
0.17
0.17
0.17
0.20
2016 0.59
0.14
0.14
0.14
0.17
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 21,892 18,264 21,987 14,680
Receivables 4,474 7,015 7,317 5,927
Inventory — — — —
Other 4,582 5,442 5,783 6,833
33,532 34,033 37,766 31,002
2023 2024 2025 Q'26
Payables 375 479 555 553
ST’ Debt 106 — 5,569 2,996
Other 11,182 12,599 13,994 15,739
23,098 26,517 35,048 31,467

Compound Annual Growth %

10y 5y 3y
Sales 11.16% 12.86% 10.92%
Cash Flow 13.35% 17.17% 6.95%
Earnings 12.23% 13.04% 10.28%
Book Value 2.42% 0.92% 2.14%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 3.23 Actual 3.32

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.97 2.98 Beat by 0.01
Q1 FY26 3.14 3.17 Beat by 0.03
Q2 FY26 3.09 3.31 Beat by 0.22
Q3 FY26 3.23 3.32 Beat by 0.09
Q4 FY26 3.43 — Reports 27 October 2026

EPS $

Dec Mar Jun Sep Year
’26 3.03 3.14 2.97 — —
’25 2.58 2.32 2.69 2.62 10.20
’24 2.39 2.29 2.40 2.65 9.73
’23 1.99 2.03 2.00 2.27 8.28
’22 1.83 1.70 1.60 1.86 7.00
’21 1.42 1.38 1.18 1.65 5.63
’20 1.46 1.38 1.07 0.97 4.89
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 10,901 11,230 11,633 — —
’25 9,510 9,594 10,172 10,724 40,000
’24 8,634 8,775 8,900 9,617 35,926
’23 7,936 7,985 8,123 8,609 32,653
’22 7,059 7,189 7,275 7,787 29,310
’21 5,687 5,729 6,130 6,559 24,105
’20 6,054 5,854 4,837 5,101 21,846
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 6,780 3,008 6,554 — —
’25 5,396 4,695 6,730 6,238 23,059
’24 3,614 4,538 5,134 6,664 19,950
’23 4,171 3,860 5,797 6,927 20,755
’22 4,232 3,489 5,252 5,876 18,849
’21 3,513 3,329 4,414 3,971 15,227
’20 3,875 1,467 3,002 2,096 10,440
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 6,402 2,625 6,137 — —
’25 5,051 4,368 6,309 5,849 21,577
’24 3,347 4,257 4,734 6,355 18,693
’23 3,922 3,650 5,502 6,622 19,696
’22 4,059 3,222 5,017 5,581 17,879
’21 3,353 3,171 4,235 3,763 14,522
’20 3,684 1,251 2,841 1,928 9,704
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 66.12 78.49 111.02 127.88 133.93 190.10 174.60 206.16 252.70 299.00 +18.3% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 83.96 114.92 151.56 189.89 220.39 252.67 235.85 263.25 321.62 375.51 +18.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees — — 17,000 19,500 20,500 21,500 26,500 28,800 31,600 34,100 +10.5% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.00 0.00 1.21 1.18 1.07 1.12 1.11 1.13 1.14 1.17 n/m ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 15,082 18,358 20,609 22,977 21,846 24,105 29,310 32,653 35,926 40,000 +11.4% 45,782 50,805 56,108 +11.9%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 8,012 11,694 12,806 14,884 13,790 16,063 18,136 21,037 23,916 24,194 +13.1%
EBT margin, % 53.12 63.70 62.14 64.78 63.12 66.64 61.88 64.43 66.57 60.49 +7.4 pt
Net income 5,991 6,699 10,301 12,080 10,866 12,311 14,957 17,273 19,743 20,058 +14.4%
Depreciation 502 556 602 656 767 804 861 943 1,034 1,220 +10.4%
Per share, $
Per share, $ Revenue 6.95 8.73 10.06 11.49 11.19 12.39 15.38 17.43 19.59 21.65 +13.5%
Earnings 2.49 2.80 4.43 5.32 4.90 5.63 7.01 8.29 9.74 10.22 +17.0%
Cash flow 2.57 4.43 6.32 6.40 5.35 7.82 9.89 11.08 10.88 12.48 +19.2%
Capex (0.24) (0.33) (0.35) (0.38) (0.38) (0.36) (0.51) (0.57) (0.69) (0.80) +14.3%
Free cash flow 2.33 4.10 5.97 6.02 4.97 7.46 9.38 10.52 10.19 11.68 +19.6%
Book value 15.17 15.57 16.60 17.35 18.54 19.32 18.67 20.68 21.34 20.51 +3.4%
Shares, m 2,170 2,104 2,049 1,999 1,953 1,946 1,906 1,873 1,834 1,848 (1.8%)
Valuation, ×
Valuation, × P/E 33.48 37.39 34.04 32.33 40.89 39.56 25.38 27.86 28.23 33.44 33.3
P/S 11.90 12.08 14.99 14.96 17.88 17.98 11.55 13.27 14.04 15.77 14.4
P/B 6.60 8.15 10.83 11.77 12.55 12.56 10.18 11.70 13.23 16.98 11.5
EV/Sales 12.29 12.30 15.24 15.19 18.02 18.05 11.64 13.23 14.11 15.85 14.6
EV/FCF 36.70 26.18 25.70 29.02 40.57 29.96 19.08 21.93 27.12 29.39 28.6
Cash, $m
Cash, $m Operating cash flow 5,574 9,317 12,941 12,784 10,440 15,227 18,849 20,755 19,950 23,059 +17.1%
Capex (523) (695) (718) (756) (736) (705) (970) (1,059) (1,257) (1,482) +12.3%
Free cash flow 5,051 8,622 12,223 12,028 9,704 14,522 17,879 19,696 18,693 21,577 +17.5%
Balance, $m
Balance, $m Working capital 6,267 9,029 6,911 7,555 13,135 11,868 9,352 10,434 7,516 2,718 (8.9%)
Total debt 15,882 18,367 16,630 16,729 24,070 20,977 22,450 20,569 20,836 25,171 +5.2%
Net debt 5,917 3,898 3,430 3,450 3,128 1,571 2,479 (1,323) 2,572 3,184 (6.7%)
Shareholders’ equity 32,912 32,760 34,006 34,684 36,210 37,589 35,581 38,733 39,137 37,909 +1.6%
Returns, %
Returns, % ROA 11.59 10.15 15.02 17.04 14.16 15.03 17.76 19.63 21.34 20.66 +9.1 pt
ROIC 12.69 20.70 21.63 24.59 22.37 25.22 30.89 35.08 35.36 36.49 +23.8 pt
ROE 21.01 24.62 36.94 41.83 36.01 37.51 44.14 49.15 52.55 53.30 +32.3 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
International 24,367 60.92%
U.S. 15,633 39.08%
Gross margin 100.00%
Operating margin 59.99%
Pre-tax margin 60.49%

Revenue by segment since 2017

Visa Inc. vs peers in Credit Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
V Visa Inc. $773.6B 33.4× 32.6× +14.36% (above 0%: growing) +10.41% (above 0%: growing) −2.73% (below 0%: shrinking) 100.00% 59.12%
MA Mastercard Incorporated $554.7B 34.1× 31.9× +14.07% (above 0%: growing) +22.06% (above 0%: growing) −25.01% (below 0%: shrinking) 100.00% 60.22% Compare
AXP American Express Company $219.6B 19.0× 17.4× +8.34% (above 0%: growing) +11.27% (above 0%: growing) +19.44% (above 0%: growing) 90.93% 0.00% Compare
COF Capital One Financial Corporation $124.8B 12.4× 11.6× +21.66% (above 0%: growing) n/m +42.53% (above 0%: growing) 79.80% 0.00% Compare
PYPL PayPal Holdings, Inc. $49.2B 10.7× 11.2× +4.75% (above 0%: growing) −3.08% (below 0%: shrinking) +157.72% (above 0%: growing) 39.60% 16.44% Compare
AFRM Affirm Holdings, Inc. $24.4B 12.3× 35.0× +33.04% (above 0%: growing) +2,171.43% (above 0%: growing) +875.00% (above 0%: growing) 58.84% 12.63% Compare
SYF Synchrony Financial $24.4B 7.5× 7.7× +0.28% (above 0%: growing) +3.98% (above 0%: growing) −5.47% (below 0%: shrinking) 82.95% 0.00% Compare
SOFI SoFi Technologies, Inc. $19.1B 28.7× 24.7× +39.09% (above 0%: growing) +33.33% (above 0%: growing) −160.17% (below 0%: shrinking) 77.57% 0.00% Compare
ALLY Ally Financial Inc. $12.0B 9.1× 8.4× +4.52% (above 0%: growing) +13.33% (above 0%: growing) +42.87% (above 0%: growing) 62.82% 0.00% Compare
Median of peers $36.8B 12.4× 14.5× +11.21% +13.33% +30.99% 78.69% 0.00%

All 55 Credit Services stocks →

Business profile

Updated

Visa states that it facilitates digital payments and money movement through a four-party model linking consumers, issuers, acquirers and sellers. It provides transaction processing, principally authorization, clearing and settlement, and also offers Visa-branded credit, debit, prepaid and cash-access programs through its clients. The company says its network also supports non-Visa-branded transactions through gateway routing services. Its stated value-added-service portfolios include issuing, acceptance, risk and security, and advisory and other services. Visa states that it is not a financial institution: it does not issue cards, extend credit, or set account-holder rates and fees.

From the latest earnings call

Updated

  • Ryan McInerney said Visa is expanding its payment, commercial and money-movement offerings while increasing product-development activity through AI-enabled tools.
  • Chris Suh said Visa expects fourth-quarter adjusted net revenue growth at the high end of low double digits, assuming stable consumer spending and current volatility levels.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
BMO Oct 23, 2026 Target raised — 405.00 → 425.00
BMO Capital Oct 19, 2026 Target raised — —
Baird Oct 19, 2026 Target raised — —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 87.11%
Held by the ten largest 39.36%
Holder Shares Stake Change
Vanguard 160.53m 9.42% −1.52m
BlackRock 137.67m 8.08% +1.48m
State Street 82.87m 4.86% +566.19k
Capital Group 57.82m 3.39% +1.89m
Morgan Stanley 45.96m 2.70% −19.60k
Geode Capital Management 45.29m 2.66% +401.64k
Fidelity (FMR) 42.93m 2.52% −1.98m
T. Rowe Price 38.81m 2.28% −4.83m
TCI FUND MANAGEMENT LTD 30.49m 1.79% +26.00k
UBS 28.42m 1.67% +2.46m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Visa Inc. (V) Latest News

24 Oct

Impact 4 ·
Impact 3 ·
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23 Oct

Impact 4 ·
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22 Oct

Impact 4 ·
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21 Oct

Impact 4 ·
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20 Oct

Impact 4 ·
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V metrics, ten years each

stockrow.com/V · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com