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V

Visa Inc.

V

Visa Inc. • NYSE
$334.67 ▲ 0.26% (+0.88)
Market Cap $649.40 B
52w High $375.51
52w Low $299.00
Dividend Yield 2.68%
P/E 32.78
Volume 4.06M
Outstanding Shares 1.94B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $10.724B ▲ $2.595B ▲ $5.09B ▼ 47.464% ▼ $2.62 ▼ $6.749B ▲
Q3-2025 $10.172B ▲ $2.022B ▼ $5.272B ▲ 51.829% ▲ $2.69 ▲ $6.689B ▲
Q2-2025 $9.594B ▲ $2.278B ▲ $4.577B ▼ 47.707% ▼ $2.32 ▼ $5.901B ▼
Q1-2025 $9.51B ▼ $1.256B ▼ $5.119B ▼ 53.828% ▼ $2.58 ▼ $6.664B ▼
Q4-2024 $9.617B $1.451B $5.318B 55.298% $2.66 $6.822B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $18.997B ▼ $99.627B ▼ $61.718B ▲ $37.909B ▼
Q3-2025 $19.18B ▲ $100.024B ▲ $61.36B ▲ $38.664B ▲
Q2-2025 $13.751B ▼ $92.853B ▲ $54.823B ▲ $38.03B ▼
Q1-2025 $14.334B ▼ $91.888B ▼ $53.592B ▼ $38.296B ▼
Q4-2024 $15.175B $94.511B $55.374B $39.137B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $5.09B ▼ $6.238B ▼ $304M ▲ $-6B ▼ $-673M ▼ $5.849B ▼
Q3-2025 $5.272B ▲ $6.73B ▲ $-256M ▼ $-1.828B ▲ $5.305B ▲ $6.309B ▲
Q2-2025 $4.577B ▼ $4.695B ▼ $-130M ▼ $-5.66B ▼ $-830M ▼ $4.368B ▼
Q1-2025 $5.119B ▼ $5.396B ▼ $790M ▲ $-5.475B ▲ $203M ▼ $5.051B ▼
Q4-2024 $5.318B $6.664B $584M $-7.069B $487M $6.355B

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Client Incentives
Client Incentives
 $-3800.00M ▲$-3730.00M ▲$-3970.00M ▼$0 ▲
Data Processing Revenues
Data Processing Revenues
 $4.75Bn ▲$4.70Bn ▼$5.15Bn ▲$5.39Bn ▲
International Transaction Revenues
International Transaction Revenues
 $3.44Bn ▲$3.29Bn ▼$3.63Bn ▲$3.80Bn ▲
Service
Service
 $4.21Bn ▲$4.40Bn ▲$4.33Bn ▼$4.60Bn ▲
Service Other
Service Other
 $910.00M ▲$940.00M ▲$1.03Bn ▲$1.18Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Visa’s income statement shows a very strong and steadily growing business. Revenue has climbed year after year, with only minor interruptions, and profits have largely followed the same upward path. The company runs with very high profit margins, meaning it keeps a large share of every dollar of revenue as profit compared with most businesses. One nuance: in the most recent year, sales grew faster than profits, which suggests higher costs, heavier investment, or pricing pressure. Even so, profitability remains robust and well above typical levels in most industries, showing a resilient, highly scalable model.

Balance Sheet

Balance Sheet The balance sheet looks solid and conservative for a global payments leader. Total assets have grown steadily over time, and the company holds a sizable cash cushion. Debt has increased gradually, but not in a way that looks aggressive relative to its earnings power and cash generation. Shareholders’ equity has been broadly stable over several years, which, combined with rising profits, suggests Visa has been returning a good amount of value to shareholders while still keeping its financial position sound. Overall, the company appears comfortably funded with no obvious signs of balance sheet stress.

Cash Flow

Cash Flow Visa’s cash flow profile is a key strength. The business reliably converts a large portion of its accounting profits into cash each year, and operating cash flow has trended higher over time. After only modest spending on capital investments, the company is left with very healthy free cash flow. This surplus cash gives Visa flexibility: it can invest in new technology, pursue acquisitions, and return money to shareholders, all without straining its finances. The consistency and quality of this cash generation is a hallmark of a strong, asset-light payments network.

Competitive Edge

Competitive Edge Visa sits in an exceptionally strong competitive position. Its global network connects a vast number of banks, merchants, and cardholders, and this network effect is self-reinforcing: more users make the network more valuable, which attracts even more users. The brand is widely recognized and trusted, making it a default choice for many consumers and businesses around the world. High switching costs and long-standing relationships with financial institutions help protect its position. The main pressures come from regulators, rival card networks, local payment schemes, and newer fintech and real-time payment systems that aim to bypass traditional card rails. Still, Visa’s scale, trust, and deep integrations give it a durable edge, even as the competitive and regulatory landscape slowly shifts.

Innovation and R&D

Innovation and R&D Visa’s innovation efforts are focused on making payments faster, safer, and more deeply embedded in digital life. Its core network, VisaNet, is a powerful asset that the company keeps upgrading with new features, such as tokenization, biometric authentication, and AI-driven fraud detection. Visa is leaning into emerging areas like account-to-account payments, real-time payouts, AI-powered commerce experiences, and password-less “passkey” authentication. It is also active in open banking, data services, and early work around digital currencies and stablecoins, often through partnerships and acquisitions rather than purely internal R&D. The opportunity is to stay at the center of more payment flows; the risk is that technology shifts (such as central bank systems, new digital wallets, or alternative rails) could change how value moves and reduce reliance on traditional card networks over time.

Summary

Visa combines strong growth, high profitability, and excellent cash generation with a very powerful competitive moat built on its global network, trusted brand, and deep banking and merchant relationships. Financially, it runs an asset-light, highly scalable model that throws off substantial free cash flow and supports a solid balance sheet. Strategically, it is actively investing in security, AI, real-time payments, open banking, and digital commerce to remain central to how money moves in an increasingly digital world. Key uncertainties revolve around regulation, intensifying competition from alternative payment systems and fintechs, and the pace at which new technologies might reshape payment rails. Overall, the picture is of a mature yet still innovating leader that is working to defend and expand a very strong position in global payments.

NEWS

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