Visa V
Global payments network. Visa Inc., listed on NYSE.
Based on the FY2026 annual report (Oct 2025 – Sep 2026)
Visa's FY2026 revenue was
$45.903B.
#80 by revenue among 299 companies
- Share price (close)
- $422.59
- P/E ratio
- —
- Market cap
- —
- Revenue
- $45.903B
- Operating income
- $28.11B
- Net income
- $23.504B
- Free cash flow
- $22.057B
- Total assets
- $94.36B
- Dividends paid
- $5.112B
- Dividend per share
- $0.67
- Dividend yield
- 0.2%
Where the revenue went
Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.
- Operating expenses38.8%
- Taxes, interest & other10.0%
- Net income51.2%
Profitability and stability
Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.
- Revenue growthHow much revenue grew from the previous fiscal year
- +14.8%
- #76 of 299
- Revenue is growing steadily. The median across 299 companies is +7.9%.
- Operating marginShare of revenue kept as profit from the core business
- 61.2%
- #4 of 231
- 61.2% of revenue was kept as operating profit, which is very high. The median across 231 companies is 19.2%.
- Net marginShare of revenue left as profit after interest and taxes
- 51.2%
- #8 of 298
- After taxes, 51.2% of revenue was left as net income. The median across 298 companies is 14.0%.
- FCF marginShare of revenue left as cash after capital spending
- 48.0%
- #10 of 261
- Plenty of cash is left after capital spending. The median across 261 companies is 15.8%.
- ROEHow much profit the company earned on shareholders' equity in a year
- 63.5%
- #33 of 276
- Earns a lot relative to its equity. The median across 276 companies is 16.8%.
- Debt-to-equityLiabilities relative to equity. Lower means less debt
- 161.3%
- #125 of 244
- Liabilities exceed equity. The median across 244 companies is 159.6%.
Revenue and profit over time
Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.
Where the cash went
Unlike profit, cash flow is money that actually came in and went out.
- Cash from operations$23.728B
- Capital spending−$1.671B
- Free cash flow (FCF)$22.057B
- Dividends paid−$5.112B
Whose money funds the assets
The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).
- Total assets$94.36B
- Total liabilities$58.249B
- Total equity$36.111B
- Cash and equivalents$12.938B
Compared with similar companies
Based on each company's latest annual report, so fiscal year ends may differ.
Compare in detail| Company | Annual revenue | Net income | Revenue growth | Operating margin | Net margin |
|---|---|---|---|---|---|
| VisaV | $45.903B | $23.504B | +14.8% | 61.2% | 51.2% |
| MastercardMA | $32.791B | $14.968B | +16.4% | 57.6% | 45.6% |
| American ExpressAXP | $41.304B | $10.833B | +6.4% | — | 26.2% |
| PayPalPYPL | $33.172B | $5.233B | +4.3% | 18.3% | 15.8% |
| FiservFISV | $21.193B | $3.48B | +3.6% | 27.4% | 16.4% |
| Capital OneCOF | $53.434B | $2.453B | +36.6% | — | 4.6% |
What the company does
Visa runs VisaNet, a payments network connecting banks, merchants and consumers in more than 200 countries. It does not lend money itself; it earns fees based on payment volume, transaction counts and cross-border payments.
- Service revenue (network services based on payment volume)
- Data processing revenue (based on the number of transactions authorized, cleared and settled)
- International transaction revenue (cross-border payments and currency conversion)
- Value-added services (fraud prevention and security, consulting, open banking and data solutions)
The fiscal year ends on September 30. Card-issuing banks bear the credit risk while Visa only provides the payments network, so its operating margin is above 60% and its capital spending needs are very low.
Related companies: Mastercard, American Express, PayPal, Fiserv, Capital One
Financial statements
Last 5 fiscal years. Currency: US dollars.
Show the table
| Item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Revenue | 29.31B | 32.653B | 35.926B | 40B | 45.903B |
| Operating income | 18.813B | 21B | 23.595B | 23.994B | 28.11B |
| Pretax income | 18.136B | 21.037B | 23.916B | 24.194B | 28.093B |
| Net income | 14.957B | 17.273B | 19.743B | 20.058B | 23.504B |
| Operating cash flow | 18.849B | 20.755B | 19.95B | 23.059B | 23.728B |
| Capital expenditures | 970M | 1.059B | 1.257B | 1.482B | 1.671B |
| Free cash flow (FCF) | 17.879B | 19.696B | 18.693B | 21.577B | 22.057B |
| Dividends paid | 3.203B | 3.751B | 4.217B | 4.634B | 5.112B |
| Total assets | 85.501B | 90.499B | 94.511B | 99.627B | 94.36B |
| Total liabilities | 49.92B | 51.766B | 55.374B | 61.718B | 58.249B |
| Total equity | 35.581B | 38.733B | 39.137B | 37.909B | 36.111B |
| Cash and equivalents | 20.377B | 21.99B | 19.763B | 17.164B | 12.938B |
| Original filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: SEC EDGAR filings for Visa Inc. · CIK 0001403161 · US-GAAP