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

Each cell as a share of that year’s revenue.

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	—	33.3%	49.9%	53.5%	—	74.6%	34.1%	39.6%	53.8%	37.3%
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Accounts Receivable	—	7.1%	7.0%	6.9%	—	7.4%	6.7%	5.9%	6.2%	6.9%
Prepaid Expenses	—	9.2%	7.9%	9.1%	—	3.5%	3.1%	2.7%	3.0%	3.7%
Total Current Assets	—	94.7%	102.7%	103.1%	—	126.5%	91.3%	88.4%	103.6%	94.9%
Property,Plant and Equipment	—	—	—	—	—	—	—	—	—	—
Goodwill	—	52.7%	55.1%	60.7%	—	72.8%	68.1%	73.7%	82.3%	99.9%
Intangible Assets	—	74.8%	79.9%	85.5%	—	127.3%	116.6%	133.7%	151.7%	180.6%
Long Term Investments	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Assets	—	10.2%	11.4%	12.7%	—	15.6%	9.7%	5.7%	6.7%	5.9%
Total Assets	—	263.1%	277.2%	291.7%	—	370.4%	315.9%	335.9%	370.3%	424.6%
Liabilities
Accounts Payable	—	1.3%	1.1%	1.2%	—	0.8%	0.7%	0.9%	1.0%	1.3%
Accrued Liabilities	—	13.7%	15.4%	12.7%	—	8.4%	7.1%	5.6%	6.1%	7.5%
Current Portion of Long Term Debt	—	0.0%	0.0%	7.7%	—	13.7%	0.0%	0.0%	9.5%	0.0%
Other Current Liabilities	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	—	73.8%	70.7%	71.1%	—	66.4%	58.4%	54.9%	54.4%	53.3%
Long Term Debt	—	58.0%	62.7%	68.9%	—	96.5%	72.8%	80.7%	90.5%	105.3%
Deferred Tax Liabilities	—	—	—	—	—	—	—	—	—	—
Other Noncurrent Liabilities	—	7.6%	9.5%	12.1%	—	17.8%	12.8%	12.9%	7.2%	7.7%
Total Liabilities	—	154.1%	158.5%	170.3%	—	204.7%	164.9%	170.9%	191.8%	206.4%
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Additional Paid In Capital	—	59.1%	62.6%	2.1%	—	76.5%	72.0%	80.9%	92.1%	115.3%
Retained Earnings	—	48.1%	55.2%	55.0%	—	64.5%	58.8%	54.9%	51.8%	69.4%
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	—	108.9%	118.6%	121.4%	—	165.8%	151.0%	165.0%	178.5%	218.2%
Total Liabilitiesand Equity	—	263.1%	277.2%	291.7%	—	370.4%	315.9%	335.9%	370.3%	424.6%

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	—	—	—	—	—	—	—	—	—	—
Expenses Selling,General and Administrative	—	—	—	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	—	2.9%	2.9%	2.9%	—	3.5%	2.9%	3.0%	3.0%	3.3%
Expenses Share Based Compensation	—	2.4%	2.3%	2.1%	—	1.9%	1.8%	1.6%	1.3%	1.5%
Expenses Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	—	65.7%	64.3%	64.2%	—	64.5%	65.3%	62.9%	66.2%	52.3%
Other Income Expense Interest Income	—	2.6%	2.0%	-0.8%	—	0.9%	1.7%	2.3%	0.6%	0.5%
Other Income Expense Other Income/expense	—	2.7%	2.1%	-0.5%	—	1.0%	1.8%	2.3%	0.6%	3.7%
Other Income Expense Income Before Tax	—	—	—	—	—	—	—	—	—	—
Income Tax Income Tax Expense	—	11.6%	11.5%	10.8%	—	13.4%	12.2%	12.2%	27.2%	13.4%
net Income net Income	—	55.0%	52.9%	51.0%	—	49.7%	52.6%	50.0%	36.5%	39.7%
net Income Comprehensive Income	—	—	—	—	—	—	—	—	—	—

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	—	55.0%	52.9%	51.0%	—	49.7%	52.6%	50.0%	36.5%	39.7%
Operating Activities Depreciation and Amortization	—	2.9%	2.9%	2.9%	—	3.5%	2.9%	3.0%	3.0%	3.3%
Operating Activities Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	-0.3%	-1.5%	-1.1%	—	1.4%	0.9%	-6.2%	9.2%	-5.2%
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—	—	—	—	—	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	—	3.5%	3.2%	3.3%	—	3.4%	3.3%	3.5%	3.9%	3.5%
Investing Activities Business Acquisitions	—	2.5%	0.0%	6.6%	—	0.4%	3.0%	1.0%	1.6%	60.2%
Investing Activities Purchases of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	—	0.3%	0.1%	-0.4%	—	-0.3%	-0.1%	-0.1%	0.0%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	—	0.0%	0.0%	11.0%	—	33.0%	0.0%	0.0%	13.6%	105.9%
Financing Activities Repayment of Debt	—	0.0%	6.9%	3.4%	—	0.0%	0.0%	8.5%	0.0%	0.0%
Financing Activities Repurchase of Common Stock	—	46.5%	37.1%	39.5%	—	37.1%	37.5%	34.9%	37.5%	46.3%
Financing Activities Dividends Paid	—	11.7%	11.5%	10.9%	—	12.2%	9.9%	9.3%	8.6%	9.0%
Financing Activities Proceeds From Stock Issuance	—	—	—	—	—	—	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	0.5%	0.6%	-0.7%	—	-0.5%	0.0%	0.0%	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At End of Period	—	—	—	—	—	—	—	—	—	—

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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