Company financials

Visa Inc.

Financials Transaction & Payment Processing Services San Francisco, California Last filing Nov 6, 2025 · FY2025

                    Revenue
                    FY2025
                
$40.0B
                    3y CAGR +10.9%
                    
                    P38
                    
                    +11.3%
                    
                    Net income
                    FY2025
                
$20.1B
                    Net margin +50.1%
                    
                    P93
                    
                    +1.6%
                    
                    Total assets
                    FY2025
                
$99.6B
                    ROA +20.1%
                    
                    P97
                    
                    +5.4%
                    
                    Operating cash flow
                    FY2025
                
$23.1B
                    FCF margin +53.9%
                    
                    P82
                    
                    +15.6%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $99.6B

Total liabilities $61.7B

Shareholders equity $37.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	20.2%	15.9%	19.9%
Accounts Receivable	3.1%	2.7%	2.5%
Prepaid Expenses	2.7%	3.5%	2.9%
Other Current Assets	10.0%	10.5%	7.5%
Total Current Assets	37.9%	36.0%	37.1%
Property,Plant and Equipment	4.3%	4.0%	3.8%
Goodwill	20.0%	20.0%	19.9%
Intangible Assets	27.7%	28.5%	28.8%
Long Term Investments	2.8%	6.1%	6.4%
Other Noncurrent Assets	9.1%	8.8%	8.3%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	0.6%	0.5%	0.4%
Accrued Liabilities	10.4%	8.6%	9.1%
Current Portion of Long Term Debt	5.6%	0.0%	—
Other Current Liabilities	18.6%	18.9%	16.0%
Total Current Liabilities	35.2%	28.1%	25.5%
Long Term Debt	19.7%	22.0%	22.6%
Deferred Tax Liabilities	5.6%	5.6%	5.7%
Other Noncurrent Liabilities	1.5%	2.9%	3.4%
Total Liabilities	61.9%	58.6%	57.2%
Equity
Preferred Stock	0.7%	1.1%	1.9%
Additional Paid In Capital	22.0%	22.5%	22.6%
Retained Earnings	15.2%	18.3%	19.9%
Accumulated Other Comprehensive Income	0.2%	-0.3%	-1.5%
Other Equity	-0.1%	-0.1%	-0.2%
Total Stockholders Equity	38.1%	41.4%	42.8%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

10 accounts · 3 years

Revenue $40.0B

Operating income $24.0B

Net income $20.1B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	40.1%	38.0%	36.1%
Expenses Selling,General and Administrative	11.4%	10.6%	10.0%
Expenses Depreciation and Amortization	1.2%	1.1%	1.0%
Expenses Other Operating Expenses	3.5%	1.3%	1.8%
Other Income Expense Operating Income	24.1%	25.0%	23.2%
Other Income Expense Interest Expense	0.6%	0.7%	0.7%
Other Income Expense Other Income/expense	0.8%	1.0%	0.8%
Other Income Expense Income Before Tax	24.3%	25.3%	23.2%
Income Tax Income Tax Expense	4.2%	4.4%	4.2%
net Income net Income	20.1%	20.9%	19.1%

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 3 years

Operating cash flow $23.1B

Investing cash flow $708.0M

Financing cash flow $-19.0B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	20.1%	20.9%	19.1%
Operating Activities Depreciation and Amortization	17.0%	15.7%	14.6%
Operating Activities Stock Based Compensation	0.9%	0.9%	0.8%
Operating Activities Deferred Income Taxes	0.2%	-0.1%	-0.5%
Operating Activities Changes In Operating Assets and Liabilities	-15.2%	-16.3%	-11.1%
Operating Activities Other Non Cash Items	0.2%	0.1%	-0.0%
Operating Activities net Cash From Operating Activities	23.1%	21.1%	22.9%
Investing Activities Capital Expenditures	-1.5%	-1.3%	-1.2%
Investing Activities Business Acquisitions	-0.9%	-1.0%	0.0%
Investing Activities Purchases of Investments	-0.1%	-4.9%	-5.0%
Investing Activities Proceeds From Sale of Investments	3.0%	5.3%	3.5%
Investing Activities Other Investing Activities	0.1%	-0.1%	0.4%
Investing Activities net Cash From Investing Activities	0.7%	-2.0%	-2.2%
Financing Activities Proceeds From Debt	3.9%	0.0%	0.0%
Financing Activities Repayment of Debt	0.0%	0.0%	-2.5%
Financing Activities Repurchase of Common Stock	-18.4%	-17.7%	-13.4%
Financing Activities Dividends Paid	-4.7%	-4.5%	-4.1%
Financing Activities Proceeds From Stock Issuance	0.4%	0.4%	0.3%
Financing Activities Tax Withholding On Stock Based Compensation	-0.3%	-0.2%	-0.1%
Financing Activities Other Financing Activities	-0.1%	0.2%	0.2%
Financing Activities net Cash From Financing Activities	-19.0%	-21.8%	-19.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.4%	0.4%	0.7%
Cash Reconciliation net Change In Cash	5.2%	-2.4%	1.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	+60.0%	+65.7%	+64.3%
Net margin	+50.1%	+55.0%	+52.9%
FCF margin	+53.9%	+52.0%	+60.3%
Growth
Revenue CAGR (3y)	+10.9%	+14.2%	+14.3%
Returns
ROE	+52.9%	+50.4%	+44.6%
ROA	+20.1%	+20.9%	+19.1%
ROIC	+46.3%	+43.4%	+41.9%
Liquidity
Current ratio	1.08x	1.28x	1.45x
Quick ratio	0.66x	0.66x	0.88x
Leverage
D/E	1.63x	1.41x	1.34x
Interest coverage	40.74x	36.81x	32.61x
Efficiency
Asset turnover	0.40x	0.38x	0.36x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Visa Inc.

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