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 revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 10 years

Total assets $99.6B

Total liabilities $61.7B

Shareholders equity $37.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	50.4%	41.9%	55.3%	58.5%	72.1%	78.7%	39.4%	46.8%	59.4%	44.1%
Accounts Receivable	7.8%	7.1%	7.0%	6.9%	8.2%	7.4%	6.7%	5.9%	6.2%	6.9%
Prepaid Expenses	6.7%	9.2%	7.9%	9.1%	3.6%	3.5%	3.1%	2.7%	3.0%	3.7%
Other Current Assets	24.9%	27.5%	20.7%	18.9%	22.3%	19.8%	23.7%	15.8%	16.1%	18.7%
Total Current Assets	94.4%	94.7%	102.7%	103.1%	114.5%	126.5%	91.3%	88.4%	103.6%	94.9%
Property,Plant and Equipment	10.6%	10.6%	10.5%	11.0%	11.3%	12.5%	11.7%	12.0%	12.3%	14.3%
Goodwill	49.7%	52.7%	55.1%	60.7%	66.2%	72.8%	68.1%	73.7%	82.3%	99.9%
Intangible Assets	69.1%	74.8%	79.9%	85.5%	114.8%	127.3%	116.6%	133.7%	151.7%	180.6%
Long Term Investments	7.1%	16.0%	17.6%	17.0%	15.5%	18.2%	27.8%	37.0%	10.5%	26.1%
Other Noncurrent Assets	22.8%	23.0%	23.0%	24.2%	30.1%	30.2%	18.8%	8.3%	9.9%	8.9%
Total Assets	249.1%	263.1%	277.2%	291.7%	343.9%	370.4%	315.9%	335.9%	370.3%	424.6%
Liabilities
Accounts Payable	1.4%	1.3%	1.1%	1.2%	1.1%	0.8%	0.7%	0.9%	1.0%	1.3%
Accrued Liabilities	25.9%	22.8%	25.3%	22.3%	18.8%	16.4%	15.8%	17.0%	15.6%	18.4%
Current Portion of Long Term Debt	13.9%	0.0%	—	7.7%	4.1%	13.7%	0.0%	—	9.5%	0.0%
Other Current Liabilities	46.4%	49.7%	44.3%	40.0%	41.3%	35.5%	41.9%	37.0%	28.3%	33.6%
Total Current Liabilities	87.6%	73.8%	70.7%	71.1%	65.3%	66.4%	58.4%	54.9%	54.4%	53.3%
Long Term Debt	49.0%	58.0%	62.7%	68.9%	82.9%	96.5%	72.8%	80.7%	90.5%	105.3%
Deferred Tax Liabilities	13.9%	14.8%	15.7%	18.2%	25.4%	24.0%	20.9%	22.4%	32.6%	31.9%
Other Noncurrent Liabilities	3.8%	7.6%	9.5%	12.1%	14.4%	17.8%	12.8%	12.9%	14.3%	15.8%
Total Liabilities	154.3%	154.1%	158.5%	170.3%	188.0%	204.7%	164.9%	170.9%	191.8%	206.4%
Equity
Preferred Stock	1.9%	2.9%	5.2%	7.9%	12.8%	—	—	—	—	—
Additional Paid In Capital	54.8%	59.1%	62.6%	—	—	76.5%	72.0%	80.9%	92.1%	115.3%
Retained Earnings	37.8%	48.1%	55.2%	55.0%	63.7%	64.5%	58.8%	54.9%	51.8%	69.4%
Accumulated Other Comprehensive Income	0.6%	-0.9%	-4.0%	-8.1%	1.8%	1.6%	-2.8%	2.7%	4.8%	-3.0%
Other Equity	-0.3%	-0.3%	-0.4%	-0.1%	-0.6%	-0.2%	-0.7%	-0.0%	-0.3%	-0.2%
Total Stockholders Equity	94.8%	108.9%	118.6%	121.4%	155.9%	165.8%	151.0%	165.0%	178.5%	218.2%
Total Liabilitiesand Equity	249.1%	263.1%	277.2%	291.7%	343.9%	370.4%	315.9%	335.9%	370.3%	424.6%

Income Statement

Revenue, expense, and profitability

10 accounts · 10 years

Revenue $40.0B

Operating income $24.0B

Net income $20.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Selling,General and Administrative	28.3%	28.0%	27.7%	27.4%	28.1%	28.7%	27.0%	27.9%	27.3%	28.4%
Expenses Depreciation and Amortization	3.0%	2.9%	2.9%	2.9%	3.3%	3.5%	2.9%	3.0%	3.0%	3.3%
Expenses Other Operating Expenses	8.6%	3.5%	5.1%	5.5%	3.0%	3.4%	4.9%	6.3%	3.5%	3.6%
Other Income Expense Operating Income	60.0%	65.7%	64.3%	64.2%	65.6%	64.5%	65.3%	62.9%	66.2%	52.3%
Other Income Expense Interest Expense	1.5%	1.8%	2.0%	1.8%	-2.1%	-2.4%	-2.3%	-3.0%	-3.1%	-2.8%
Other Income Expense Other Income/expense	2.0%	2.7%	2.1%	-0.5%	3.2%	1.0%	1.8%	2.3%	0.6%	3.7%
Other Income Expense Income Before Tax	60.5%	66.6%	64.4%	61.9%	66.6%	63.1%	64.8%	62.1%	63.7%	53.1%
Income Tax Income Tax Expense	10.3%	11.6%	11.5%	10.8%	15.6%	13.4%	12.2%	12.2%	27.2%	13.4%
net Income net Income	50.1%	55.0%	52.9%	51.0%	51.1%	49.7%	52.6%	50.0%	36.5%	39.7%

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 10 years

Operating cash flow $23.1B

Investing cash flow $708.0M

Financing cash flow $-19.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	50.1%	55.0%	52.9%	51.0%	51.1%	49.7%	52.6%	50.0%	36.5%	39.7%
Operating Activities Depreciation and Amortization	42.4%	41.2%	40.5%	38.1%	38.0%	34.0%	29.7%	29.6%	27.9%	25.9%
Operating Activities Stock Based Compensation	2.2%	2.4%	2.3%	2.1%	2.2%	1.9%	1.8%	1.6%	1.3%	1.5%
Operating Activities Deferred Income Taxes	0.4%	-0.3%	-1.5%	-1.1%	3.6%	1.4%	0.9%	-6.2%	9.3%	-5.1%
Operating Activities Changes In Operating Assets and Liabilities	-37.9%	-43.0%	-30.7%	-26.1%	-27.8%	-38.4%	-27.4%	-11.8%	-24.4%	-23.4%
Operating Activities Other Non Cash Items	0.4%	0.3%	-0.1%	0.4%	-4.0%	-0.8%	-1.9%	-0.4%	0.2%	-1.7%
Operating Activities net Cash From Operating Activities	57.6%	55.5%	63.6%	64.3%	63.2%	47.8%	55.6%	62.8%	50.8%	37.0%
Investing Activities Capital Expenditures	-3.7%	-3.5%	-3.2%	-3.3%	-2.9%	-3.4%	-3.3%	-3.5%	-3.9%	-3.5%
Investing Activities Business Acquisitions	-2.2%	-2.5%	0.0%	-6.6%	-0.3%	-0.4%	-3.0%	-1.0%	-1.6%	-60.2%
Investing Activities Purchases of Investments	-0.2%	-13.0%	-13.7%	-20.8%	-21.5%	-10.7%	-13.7%	-28.2%	-17.9%	-69.2%
Investing Activities Proceeds From Sale of Investments	7.6%	14.0%	9.7%	15.6%	23.7%	20.6%	17.4%	17.6%	27.3%	60.5%
Investing Activities Other Investing Activities	0.3%	-0.3%	1.2%	0.4%	0.5%	0.3%	0.1%	0.1%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	1.8%	-5.4%	-6.1%	-14.6%	-0.6%	6.5%	-2.6%	-15.0%	4.0%	-72.4%
Financing Activities Proceeds From Debt	9.8%	0.0%	0.0%	11.0%	0.0%	33.0%	0.0%	0.0%	13.6%	105.9%
Financing Activities Repayment of Debt	0.0%	0.0%	-6.9%	-3.4%	-12.4%	0.0%	0.0%	-8.5%	0.0%	0.0%
Financing Activities Repurchase of Common Stock	-45.8%	-46.5%	-37.1%	-39.5%	-36.0%	-37.1%	-37.5%	-34.9%	-37.5%	—
Financing Activities Dividends Paid	-11.6%	-11.7%	-11.5%	-10.9%	-11.6%	-12.2%	-9.9%	-9.3%	-8.6%	-9.0%
Financing Activities Proceeds From Stock Issuance	1.0%	0.9%	0.8%	0.7%	0.9%	0.9%	0.7%	0.8%	0.8%	0.6%
Financing Activities Tax Withholding On Stock Based Compensation	-0.7%	-0.6%	-0.4%	-0.4%	-0.6%	-0.7%	-0.5%	-0.5%	-0.4%	-0.6%
Financing Activities Other Financing Activities	-0.1%	0.5%	0.6%	-0.7%	0.0%	-2.0%	-5.4%	0.0%	-0.1%	0.1%
Financing Activities net Cash From Financing Activities	-47.4%	-57.4%	-54.4%	-43.3%	-59.8%	-18.2%	-52.5%	-52.4%	-32.3%	49.6%
Cash Reconciliation Effect of Exchange Rate On Cash	1.1%	1.1%	1.9%	-4.4%	-0.2%	2.0%	-1.2%	-0.5%	1.3%	-0.2%
Cash Reconciliation net Change In Cash	13.1%	-6.2%	4.9%	2.0%	2.6%	38.2%	-0.6%	-5.0%	23.8%	13.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+60.0%	+65.7%	+64.3%	+64.2%	+65.6%	+64.5%	+65.3%	+62.9%	+66.2%	+52.3%
Net margin	+50.1%	+55.0%	+52.9%	+51.0%	+51.1%	+49.7%	+52.6%	+50.0%	+36.5%	+39.7%
FCF margin	+53.9%	+52.0%	+60.3%	+61.0%	+60.2%	+44.4%	+52.3%	+59.3%	+46.9%	+33.5%
Growth
Revenue CAGR (3y)	+10.9%	+14.2%	+14.3%	+8.5%	+5.4%	+6.0%	+15.1%	+14.1%	+13.1%	+8.6%
Returns
ROE	+52.9%	+50.4%	+44.6%	+42.0%	+32.8%	+30.0%	+34.8%	+30.3%	+20.4%	+18.2%
ROA	+20.1%	+20.9%	+19.1%	+17.5%	+14.9%	+13.4%	+16.6%	+14.9%	+9.9%	+9.4%
ROIC	+46.3%	+43.4%	+41.9%	+37.9%	+29.4%	+25.7%	+28.7%	+25.4%	+17.3%	+14.0%
Liquidity
Current ratio	1.08x	1.28x	1.45x	1.45x	1.75x	1.91x	1.56x	1.61x	1.90x	1.78x
Quick ratio	0.66x	0.66x	0.88x	0.92x	1.23x	1.30x	0.79x	0.96x	1.20x	0.96x
Leverage
D/E	1.63x	1.41x	1.34x	1.40x	1.21x	1.23x	1.09x	1.04x	1.07x	0.95x
Interest coverage	40.74x	36.81x	32.61x	34.97x	-30.81x	-27.29x	-28.14x	-21.17x	-21.57x	-18.46x
Efficiency
Asset turnover	0.40x	0.38x	0.36x	0.34x	0.29x	0.27x	0.32x	0.30x	0.27x	0.24x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Visa Inc.

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