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NYSE · Financials

Visa Inc. (V)

As-reported financials and SEC filings for Visa Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Visa Inc.

Visa Inc. provides digital payment processing services that facilitate secure and efficient money movement among consumers, financial institutions, merchants, governments, and other organizations worldwide. Its main products include Visa-branded credit, debit, prepaid, and cash access programs used by nearly 14,500 financial institutions and accepted at over 175 million merchant locations in more than 200 countries and territories. Visa operates a global transaction processing network called VisaNet and offers value-added services such as risk management, fraud detection, and advisory solutions to support its clients.

Snapshot

Revenue
$40.00B
Revenue growth (YoY)
11.3%
Net income
$20.06B
Diluted EPS
—
Gross margin
—
Operating margin
60.0%
Net margin
50.1%
FCF margin
53.9%
ROE
52.9%
net income / fiscal-year-end equity
P/E
34.4×
trailing when available, otherwise FY EPS
Market cap
$758.75B
Long-term debt / equity
0.52×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended September 30, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Visa

  • Revenue grew 11.3% to $40.0B in FY2025, in line with the 10.0% the year before.
  • Operating margin is 60.0% in FY2025, -5.6 pp against 65.6% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $11.2B, up 17.1% from Q2 FY2025.
  • Free cash flow was $21.6B in FY2025, 53.9% of revenue.
  • Net income rose 1.6% to $20.1B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Visa’s fundamentals sit among the 425 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin60.0%
98th percentile of 141
Net margin50.1%
97th percentile of 372
FCF margin53.9%
91st percentile of 266
Revenue growth (YoY)+11.3%
54th percentile of 419
ROE52.9%
99th percentile of 374
P/E34.4×
91st percentile of 308
Long-term debt / equity0.52×
61st percentile of 192
Short interest3.59d
41st percentile of 420

Visa’s return on equity of 52.9% ranks in the 99th percentile of the 374 Financials companies reporting it. Visa’s operating margin of 60.0% ranks in the 98th percentile of the 141 Financials companies reporting it. Visa’s net margin of 50.1% ranks in the 97th percentile of the 372 Financials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 8 insider sales totaling $35.5M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 18 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
18
+7 quant / multi-strat
Initiated / added
13
2 new, 11 added
Reduced / exited
10
9 trimmed, 1 exited
Combined position
$11.89B
reported long value
InvestorAs ofPosition valueSharesChange
Viking Global InvestorsQ2 2026$2.19B6.4MAdded
Dodge & CoxQ2 2026$1.86B5.4MAdded
Pershing Square Capital ManagementQ2 2026$1.12B3.3MNew
D. E. ShawquantQ2 2026$886.1M2.6MAdded
Sands Capital ManagementQ2 2026$815.6M2.4MReduced
ValueAct CapitalQ2 2026$794.7M2.3MHeld
AQR Capital ManagementquantQ2 2026$640.3M1.9MAdded
Polen Capital ManagementQ2 2026$619.5M1.8MReduced
Akre Capital ManagementQ2 2026$381.1M1.1MReduced
Markel GroupQ2 2026$347.9M1.0MAdded
Point72 Asset ManagementquantQ2 2026$278.9M812.9KAdded
Tiger Global ManagementQ2 2026$274.0M798.7KNew
Citadel AdvisorsquantQ2 2026$269.1M784.4KAdded
Maverick CapitalQ2 2026$258.1M752.3KReduced
Harris Associates (Oakmark)Q2 2026$244.2M711.7KReduced
Millennium ManagementquantQ2 2026$242.8M707.8KAdded
Baupost GroupQ2 2026$240.6M701.4KHeld
Giverny CapitalQ2 2026$133.8M389.9KReduced
Two Sigma InvestmentsquantQ2 2026$81.9M238.7KReduced
Lone Pine CapitalQ2 2026$56.9M166.0KAdded
Gotham Asset ManagementQ2 2026$45.7M133.2KReduced
Renaissance TechnologiesquantQ2 2026$42.3M123.3KReduced
Wedgewood PartnersQ2 2026$30.6M89.2KAdded
Bridgewater AssociatesQ2 2026$28.0M81.5KAdded
Yacktman Asset ManagementQ2 2026$251,142732Held

No longer held by: Coatue Management (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
8
$35.5M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-01
filed 2026-10-02
Ryan McInerneyChief Executive OfficerSell5.9K$358.81$2.1M
2026-09-09
filed 2026-09-10
Julie B. RottenbergGENERAL COUNSELSell1.9K$368.34$688K
2026-09-01
filed 2026-09-02
Ryan McInerneyChief Executive OfficerSell5.9K$379.65$2.2M
2026-08-31
filed 2026-09-01
Julie B. RottenbergGENERAL COUNSELSell2.0K$381.35$773K
2026-08-21
filed 2026-08-24
Rajat TanejaPRESIDENT, TECHNOLOGYSell17.9K$371.00$6.7M
2026-08-21
filed 2026-08-24
Ryan McInerneyChief Executive OfficerSell5.9K$367.87$2.2M
2026-07-30
filed 2026-07-31
Tullier Kelly MahonVICE CHAIR, CHF PPL & CORP AFFSell37.3K$365.05$13.6M
2026-07-30
filed 2026-07-31
Tullier Kelly MahonVICE CHAIR, CHF PPL & CORP AFFSell20.0K$364.81$7.3M
2026-07-02
filed 2026-07-06
Julie B. RottenbergGENERAL COUNSELSell2.0K$360.00$730K
2026-07-01
filed 2026-07-02
Ryan McInerneyChief Executive OfficerSell8.9K$343.88$3.0M
2026-07-01
filed 2026-07-02
Ryan McInerneyChief Executive OfficerSell1.6K$344.55$564K
2026-06-29
filed 2026-06-30
Ryan McInerneyChief Executive OfficerSell21.0K$340.25$7.1M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
20.5M
settled 2026-10-15
Change vs prior
-0.5%
vs previous settlement
Days to cover
3.59
at avg daily volume
Avg daily volume
5.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-10-1520.5M-0.5%3.59
2026-09-3020.6M+11.2%2.81
2026-09-1518.5M-8.8%3.87
2026-08-3120.3M-8.7%2.78
2026-08-1422.3M+7.0%3.63
2026-07-3120.8M-11.8%2.82
2026-07-1523.6M+14.1%2.66
2026-06-3020.7M-2.8%1.90

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$40.00B$35.93B$32.65B$29.31B$24.11B
Gross profit—————
Operating income$23.99B$23.59B$21.00B$18.81B$15.80B
Pre-tax income$24.19B$23.92B$21.04B$18.14B$16.06B
Net income$20.06B$19.74B$17.27B$14.96B$12.31B
Diluted EPS—————

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$23.06B$19.95B$20.75B$18.85B$15.23B
Capital expenditure$1.48B$1.26B$1.06B$970.0M$705.0M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$11.23B17.1%$6.02B—
Q1 FY2026$10.90B14.6%$5.85B—
Q4 FY202511.5%—
Q3 FY2025$10.17B14.3%$5.27B—
Q2 FY2025$9.59B9.3%$4.58B—
Q1 FY2025$9.51B10.1%$5.12B—
Q4 FY202411.7%—
Q3 FY2024$8.90B9.6%$4.87B—

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorFinancials
SIC industryServices-Business Services, NEC
Latest annual periodFY2025 (ended September 30, 2025)
Latest reported quarterQ2 FY2026 (ended March 31, 2026)
Oldest indexed filing2015
SEC CIK1403161

Selected SEC filings

10-K2025-11-06
View on EDGAR →
10-K2024-11-13
View on EDGAR →
10-Q2026-07-29
View on EDGAR →
10-Q2026-04-29
View on EDGAR →
10-Q2026-01-30
View on EDGAR →
10-Q2025-07-30
View on EDGAR →
8-K2026-09-23
View on EDGAR →
8-K2026-07-28
View on EDGAR →

Largest Financials peers

All Financials companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.