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Stocks · Industrials · Services-Business Services, NEC

Visa Inc.

V Clue Score64
United States Fiscal year ends September CIK 0001403161
$389.27 +0.99% Close, 12 Oct 2026
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Price $389.27 +73.74% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue18.36Operating income12.14Net income6.70Fiscal year 2018Revenue20.61 +12.3%Operating income12.95Net income10.30 +53.8%Fiscal year 2019Revenue22.98 +11.5%Operating income15.00Net income12.08 +17.3%Fiscal year 2020Revenue21.85 −4.9%Operating income14.08Net income10.87 −10.0%Fiscal year 2021Revenue24.11 +10.3%Operating income15.80Net income12.31 +13.3%Fiscal year 2022Revenue29.31 +21.6%Operating income18.81Net income14.96 +21.5%Fiscal year 2023Revenue32.65 +11.4%Operating income21.00Net income17.27 +15.5%Fiscal year 2024Revenue35.93 +10.0%Operating income23.60Net income19.74 +14.3%Fiscal year 2025Revenue40.00 +11.3%Operating income23.99Net income20.06 +1.6%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 18.36 20.61 22.98 21.85 24.11 29.31 32.65 35.93 40.00
Growth +12.3% +11.5% −4.9% +10.3% +21.6% +11.4% +10.0% +11.3%
Operating income 12.14 12.95 15.00 14.08 15.80 18.81 21.00 23.60 23.99
Net income 6.70 10.30 12.08 10.87 12.31 14.96 17.27 19.74 20.06
Growth +53.8% +17.3% −10.0% +13.3% +21.5% +15.5% +14.3% +1.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin66.2%Net margin36.5%Free cash flow margin46.9%Fiscal year 2018Operating margin62.9%Net margin50.0%Free cash flow margin59.3%Fiscal year 2019Operating margin65.3%Net margin52.6%Free cash flow margin52.3%Fiscal year 2020Operating margin64.5%Net margin49.7%Free cash flow margin44.4%Fiscal year 2021Operating margin65.6%Net margin51.1%Free cash flow margin60.2%Fiscal year 2022Operating margin64.2%Net margin51.0%Free cash flow margin61.0%Fiscal year 2023Operating margin64.3%Net margin52.9%Free cash flow margin60.3%Fiscal year 2024Operating margin65.7%Net margin55.0%Free cash flow margin52.0%Fiscal year 2025Operating margin60.0%Net margin50.1%Free cash flow margin53.9%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 66.2% 62.9% 65.3% 64.5% 65.6% 64.2% 64.3% 65.7% 60.0%
Net margin 36.5% 50.0% 52.6% 49.7% 51.1% 51.0% 52.9% 55.0% 50.1%
Free cash flow margin 46.9% 59.3% 52.3% 44.4% 60.2% 61.0% 60.3% 52.0% 53.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow9.32Capital expenditure−0.71Free cash flow8.61Buybacks−6.89Dividends paid−1.58Fiscal year 2018Operating cash flow12.94Capital expenditure−0.72Free cash flow12.22 +42.0%Buybacks−7.19Dividends paid−1.92Fiscal year 2019Operating cash flow12.78Capital expenditure−0.76Free cash flow12.03 −1.6%Buybacks−8.61Dividends paid−2.27Fiscal year 2020Operating cash flow10.44Capital expenditure−0.74Free cash flow9.70 −19.3%Buybacks−8.11Dividends paid−2.66Fiscal year 2021Operating cash flow15.23Capital expenditure−0.71Free cash flow14.52 +49.6%Buybacks−8.68Dividends paid−2.80Fiscal year 2022Operating cash flow18.85Capital expenditure−0.97Free cash flow17.88 +23.1%Buybacks−11.59Dividends paid−3.20Fiscal year 2023Operating cash flow20.76Capital expenditure−1.06Free cash flow19.70 +10.2%Buybacks−12.10Dividends paid−3.75Fiscal year 2024Operating cash flow19.95Capital expenditure−1.26Free cash flow18.69 −5.1%Buybacks−16.71Dividends paid−4.22Fiscal year 2025Operating cash flow23.06Capital expenditure−1.48Free cash flow21.58 +15.4%Buybacks−18.32Dividends paid−4.63
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 9.32 12.94 12.78 10.44 15.23 18.85 20.76 19.95 23.06
Capital expenditure −0.71 −0.72 −0.76 −0.74 −0.71 −0.97 −1.06 −1.26 −1.48
Free cash flow 8.61 12.22 12.03 9.70 14.52 17.88 19.70 18.69 21.58
Growth +42.0% −1.6% −19.3% +49.6% +23.1% +10.2% −5.1% +15.4%
Buybacks −6.89 −7.19 −8.61 −8.11 −8.68 −11.59 −12.10 −16.71 −18.32
Dividends paid −1.58 −1.92 −2.27 −2.66 −2.80 −3.20 −3.75 −4.22 −4.63

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash9.87Total debt18.37Net cash (debt)−8.49Shareholders’ equity32.76Debt to equity0.56Fiscal year 2018Cash8.16Total debt16.63Net cash (debt)−8.47Shareholders’ equity34.01Debt to equity0.49Fiscal year 2019Cash7.84Total debt16.73Net cash (debt)−8.89Shareholders’ equity34.68Debt to equity0.48Fiscal year 2020Cash16.29Total debt24.07Net cash (debt)−7.78Shareholders’ equity36.21Debt to equity0.66Fiscal year 2021Cash16.49Total debt20.98Net cash (debt)−4.49Shareholders’ equity37.59Debt to equity0.56Fiscal year 2022Cash15.69Total debt22.45Net cash (debt)−6.76Shareholders’ equity35.58Debt to equity0.63Fiscal year 2023Cash16.29Total debt20.46Net cash (debt)−4.18Shareholders’ equity38.73Debt to equity0.53Fiscal year 2024Cash11.98Total debt20.84Net cash (debt)−8.86Shareholders’ equity39.14Debt to equity0.53Fiscal year 2025Cash17.16Total debt25.17Net cash (debt)−8.01Shareholders’ equity37.91Debt to equity0.66
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 9.87 8.16 7.84 16.29 16.49 15.69 16.29 11.98 17.16
Total debt 18.37 16.63 16.73 24.07 20.98 22.45 20.46 20.84 25.17
Net cash (debt) −8.49 −8.47 −8.89 −7.78 −4.49 −6.76 −4.18 −8.86 −8.01
Shareholders’ equity 32.76 34.01 34.68 36.21 37.59 35.58 38.73 39.14 37.91
Debt to equity 0.56 0.49 0.48 0.66 0.56 0.63 0.53 0.53 0.66

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Margins
66.2% 62.9% 65.3% 64.5% 65.6% 64.2% 64.3% 65.7% 60.0%
63.7% 62.1% 64.8% 63.1% 66.6% 61.9% 64.4% 66.6% 60.5%
36.5% 50.0% 52.6% 49.7% 51.1% 51.0% 52.9% 55.0% 50.1%
46.9% 59.3% 52.3% 44.4% 60.2% 61.0% 60.3% 52.0% 53.9%
Spending
5.8% 5.6% 5.2% 5.0% 4.1% 4.1% 4.1% 4.4% 4.8%
3.9% 3.5% 3.3% 3.4% 2.9% 3.3% 3.2% 3.5% 3.7%
42.7% 19.6% 18.8% 21.2% 23.4% 17.5% 17.9% 17.4% 17.1%
Returns
20.4% 30.3% 34.8% 30.0% 32.8% 42.0% 44.6% 50.4% 52.9%
9.9% 14.9% 16.6% 13.4% 14.9% 17.5% 19.1% 20.9% 20.1%
Balance and payout
0.56 0.49 0.48 0.66 0.56 0.63 0.53 0.53 0.66
51.8% 50.9% 52.2% 55.3% 54.7% 58.4% 57.2% 58.6% 61.9%
23.6% 18.6% 18.8% 24.5% 22.7% 21.4% 21.7% 21.4% 23.1%
98.4% 74.5% 90.4% 111.1% 79.0% 82.7% 80.5% 112.0% 106.4%