Company financials

Visa Inc.

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

                    Revenue
                    FY2024
                
$35.9B
                    
                    +10.0%
                    
                    Net income
                    FY2025
                
$20.1B
                    
                    +1.6%
                    
                    Total assets
                    FY2025
                
$99.6B
                    ROA +20.1%
                    
                    P97
                    
                    +5.4%
                    
                    Operating cash flow
                    FY2025
                
$23.1B
                    
                    +15.6%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 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	$17.2B 43.3%	$12.0B -26.5%	$16.3B 3.8%	$15.7B	$0 -100.0%	$16.3B 107.8%	$7.8B -4.0%	$8.2B -17.3%	$9.9B 75.7%	$5.6B
Short Term Investments	$999.0M	—	—	—	—	—	—	—	—	—
Accounts Receivable	$3.1B 22.1%	$2.6B 11.8%	$2.3B 13.4%	$2.0B	—	$1.6B 4.9%	$1.5B 27.6%	$1.2B 6.7%	$1.1B 8.7%	$1.0B
Prepaid Expenses	$2.7B -19.1%	$3.3B 28.2%	$2.6B -3.1%	$2.7B	—	$757.0M 6.3%	$712.0M 26.7%	$562.0M 2.2%	$550.0M -0.9%	$555.0M
Total Current Assets	$37.8B 11.0%	$34.0B 1.5%	$33.5B 11.0%	$30.2B	—	$27.6B 31.8%	$21.0B 15.1%	$18.2B -4.2%	$19.0B 32.9%	$14.3B
Property,Plant and Equipment	$4.2B	—	—	—	$0	—	—	—	—	—
Goodwill	$19.9B 5.0%	$18.9B 5.2%	$18.0B 1.2%	$17.8B	—	$15.9B 1.6%	$15.7B 3.0%	$15.2B 0.6%	$15.1B 0.3%	$15.1B
Intangible Assets	$27.6B 2.8%	$26.9B 3.0%	$26.1B 4.1%	$25.1B	$0 -100.0%	$27.8B 3.8%	$26.8B -2.8%	$27.6B -1.0%	$27.8B 2.3%	$27.2B
Long Term Investments	$999.0M	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	$3.9B 8.0%	$3.7B -2.1%	$3.7B -0.2%	$3.7B	—	$3.4B 52.9%	$2.2B 91.6%	$1.2B -5.0%	$1.2B 37.3%	$893.0M
Total Assets	$99.6B 5.4%	$94.5B 4.4%	$90.5B 5.8%	$85.5B	—	$80.9B 11.5%	$72.6B 4.8%	$69.2B 1.8%	$68.0B 6.2%	$64.0B
Liabilities
Accounts Payable	$555.0M 15.9%	$479.0M 27.7%	$375.0M 10.3%	$340.0M	—	$174.0M 11.5%	$156.0M -14.8%	$183.0M 2.2%	$179.0M -11.8%	$203.0M
Accrued Liabilities	$5.5B 11.3%	$4.9B -2.1%	$5.0B 34.6%	$3.7B	$0 -100.0%	$1.8B 13.2%	$1.6B 40.1%	$1.2B 2.7%	$1.1B 0.1%	$1.1B
Current Portion of Long Term Debt	$5.6B	$0	$0 -100.0%	$2.2B	—	$3.0B	$0	$0 -100.0%	$1.7B	$0
Other Current Liabilities	$1.5B	—	—	—	—	—	—	—	—	—
Total Current Liabilities	$35.0B 32.2%	$26.5B 14.8%	$23.1B 10.8%	$20.9B	—	$14.5B 8.2%	$13.4B 18.7%	$11.3B 13.1%	$10.0B 24.2%	$8.0B
Long Term Debt	$19.6B -5.9%	$20.8B 1.8%	$20.5B 1.3%	$20.2B	$0 -100.0%	$21.1B 26.0%	$16.7B 0.6%	$16.6B 0.1%	$16.6B 4.6%	$15.9B
Deferred Tax Liabilities	$5.5B	—	—	—	—	—	—	—	—	—
Other Noncurrent Liabilities	$1.5B -44.2%	$2.7B -12.0%	$3.1B -12.6%	$3.5B	—	$3.9B 32.4%	$2.9B 10.2%	$2.7B 101.8%	$1.3B 13.7%	$1.2B
Total Liabilities	$61.7B 11.5%	$55.4B 7.0%	$51.8B 3.7%	$49.9B	—	$44.7B 18.0%	$37.9B 7.6%	$35.2B 0.0%	$35.2B 13.2%	$31.1B
Equity
Preferred Stock	$745.0M	—	—	—	$0	—	—	—	—	—
Additional Paid In Capital	$21.9B 3.3%	$21.2B 3.8%	$20.5B 3297.3%	$602.0M	—	$16.7B 1.1%	$16.5B -0.8%	$16.7B -1.3%	$16.9B -2.8%	$17.4B
Retained Earnings	$15.1B -12.6%	$17.3B -4.2%	$18.0B 11.9%	$16.1B	—	$14.1B 4.3%	$13.5B 19.3%	$11.3B 19.0%	$9.5B -9.1%	$10.5B
Accumulated Other Comprehensive Income	$248.0M	—	—	—	$0	—	—	—	—	—
Total Stockholders Equity	$37.9B -3.1%	$39.1B 1.0%	$38.7B 8.9%	$35.6B	—	$36.2B 4.4%	$34.7B 2.0%	$34.0B 3.8%	$32.8B -0.5%	$32.9B
Total Liabilitiesand Equity	$99.6B 5.4%	$94.5B 4.4%	$90.5B 5.8%	$85.5B	—	$80.9B 11.5%	$72.6B 4.8%	$69.2B 1.8%	$68.0B 6.2%	$64.0B

Income Statement

Revenue, expense, and profitability

12 accounts · 10 years

Revenue $35.9B

Operating income $24.0B

Net income $20.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Expenses Cost of Revenue	$16.0B	—	—	—	—	—	—	—	—	—
Expenses Selling,General and Administrative	$1.9B	—	—	—	$0	—	—	—	—	—
Expenses Depreciation and Amortization	$1.2B 18.0%	$1.0B 9.7%	$943.0M 9.5%	$861.0M	—	$767.0M 16.9%	$656.0M 7.0%	$613.0M 10.3%	$556.0M 10.8%	$502.0M
Expenses Share Based Compensation	$897.0M 5.5%	$850.0M 11.1%	$765.0M 27.1%	$602.0M	—	$416.0M 2.2%	$407.0M 24.5%	$327.0M 39.1%	$235.0M 6.3%	$221.0M
Expenses Operating Expenses	$16.0B	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	$24.0B 1.7%	$23.6B 12.4%	$21.0B 11.6%	$18.8B	—	$14.1B -6.1%	$15.0B 15.8%	$13.0B 6.7%	$12.1B 54.1%	$7.9B
Other Income Expense Interest Income	$740.0M -21.9%	$948.0M 43.0%	$663.0M 392.1%	$-227.0M	—	$200.0M -47.8%	$383.0M -18.5%	$470.0M 347.6%	$105.0M 28.0%	$82.0M
Other Income Expense Other Income/expense	$789.0M -18.0%	$962.0M 41.3%	$681.0M 589.9%	$-139.0M	—	$225.0M -45.9%	$416.0M -10.3%	$464.0M 310.6%	$113.0M -79.7%	$556.0M
Other Income Expense Income Before Tax	$24.2B	—	—	—	—	—	—	—	—	—
Income Tax Income Tax Expense	$4.1B -0.9%	$4.2B 10.9%	$3.8B 18.4%	$3.2B	$0 -100.0%	$2.9B 4.3%	$2.8B 11.9%	$2.5B -49.8%	$5.0B 147.2%	$2.0B
net Income net Income	$20.1B 1.6%	$19.7B 14.3%	$17.3B 15.5%	$15.0B	—	$10.9B -10.0%	$12.1B 17.3%	$10.3B 53.8%	$6.7B 11.8%	$6.0B
net Income Comprehensive Income	$556.0M	—	—	—	—	—	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

25 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	$20.1B 1.6%	$19.7B 14.3%	$17.3B 15.5%	$15.0B	—	$10.9B -10.0%	$12.1B 17.3%	$10.3B 53.8%	$6.7B 11.8%	$6.0B
Operating Activities Depreciation and Amortization	$1.2B 18.0%	$1.0B 9.7%	$943.0M 9.5%	$861.0M	$0 -100.0%	$767.0M 16.9%	$656.0M 7.0%	$613.0M 10.3%	$556.0M 10.8%	$502.0M
Operating Activities Stock Based Compensation	$897.0M	—	—	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	$152.0M 252.0%	$-100.0M 79.3%	$-483.0M -43.8%	$-336.0M	—	$307.0M 43.5%	$214.0M 116.6%	$-1.3B -175.8%	$1.7B 318.3%	$-778.0M
Operating Activities Changes In Operating Assets and Liabilities	$609.0M	—	—	—	$0	—	—	—	—	—
Operating Activities Other Non Cash Items	$-94.0M	—	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	$23.1B	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	$1.5B 17.9%	$1.3B 18.7%	$1.1B 9.2%	$970.0M	—	$736.0M -2.6%	$756.0M 5.3%	$718.0M 1.6%	$707.0M 35.2%	$523.0M
Investing Activities Business Acquisitions	$887.0M -3.1%	$915.0M	$0 -100.0%	$1.9B	—	$77.0M -89.0%	$699.0M 256.6%	$196.0M -35.1%	$302.0M -96.7%	$9.1B
Investing Activities Purchases of Investments	$0	—	—	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	$3.0B	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	$-121.0M -230.1%	$93.0M 272.0%	$25.0M 119.5%	$-128.0M	—	$-72.0M -227.3%	$-22.0M -37.5%	$-16.0M	$0	—
Investing Activities net Cash From Investing Activities	$708.0M	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	$3.9B	$0	$0 -100.0%	$3.2B	—	$7.2B	$0	$0 -100.0%	$2.5B -84.4%	$16.0B
Financing Activities Repayment of Debt	$0	$0 -100.0%	$2.2B 125.0%	$1.0B	—	$0	$0 -100.0%	$1.8B	$0	$0
Financing Activities Repurchase of Common Stock	$18.3B 9.6%	$16.7B 38.1%	$12.1B 4.4%	$11.6B	—	$8.1B -5.7%	$8.6B 19.7%	$7.2B 4.4%	$6.9B -1.4%	$7.0B
Financing Activities Dividends Paid	$4.6B 9.9%	$4.2B 12.4%	$3.8B 17.1%	$3.2B	—	$2.7B 17.4%	$2.3B 18.3%	$1.9B 21.5%	$1.6B 17.0%	$1.4B
Financing Activities Proceeds From Stock Issuance	$396.0M	—	—	—	—	—	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	$281.0M	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	$-52.0M -130.6%	$170.0M -15.0%	$200.0M 201.0%	$-198.0M	—	$-99.0M	$0	$0	—	—
Financing Activities net Cash From Financing Activities	$-19.0B	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	$420.0M	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	$5.2B	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	$25.0B	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At End of Period	$25.0B	—	—	—	—	—	—	—	—	—

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	—	+65.7%	+64.3%	+64.2%	—	+64.5%	+65.3%	+62.9%	+66.2%	+52.3%
Operating margin	—	+65.7%	+64.3%	+64.2%	—	+64.5%	+65.3%	+62.9%	+66.2%	+52.3%
Net margin	—	+55.0%	+52.9%	+51.0%	—	+49.7%	+52.6%	+50.0%	+36.5%	+39.7%
FCF margin	—	+52.0%	+60.3%	+61.0%	—	+44.4%	+52.3%	+59.3%	+46.9%	+33.5%
Growth
Revenue CAGR (3y)	—	—	+14.3%	+8.5%	—	+6.0%	+15.1%	+14.1%	+13.1%	+8.6%
Returns
ROE	+52.9%	+50.4%	+44.6%	+42.0%	—	+30.0%	+34.8%	+30.3%	+20.4%	+18.2%
ROA	+20.1%	+20.9%	+19.1%	+17.5%	—	+13.4%	+16.6%	+14.9%	+9.9%	+9.4%
ROIC	+43.3%	+40.6%	+40.2%	+36.6%	—	+25.2%	+27.9%	+24.5%	+16.9%	+13.7%
Liquidity
Current ratio	1.08x	1.28x	1.45x	1.45x	—	1.91x	1.56x	1.61x	1.90x	1.78x
Quick ratio	0.58x	0.55x	0.80x	0.85x	—	1.23x	0.70x	0.83x	1.10x	0.83x
Leverage
D/E	1.63x	1.41x	1.34x	1.40x	—	1.23x	1.09x	1.04x	1.07x	0.95x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	—	0.38x	0.36x	0.34x	—	0.27x	0.32x	0.30x	0.27x	0.24x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Visa Inc.

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