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Visa Inc. operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a platform which facilitates money movement, enabling clients to collect, hold, convert, and send funds across its network; and issuing solutions, such as airport lounge access, dining reservations, shopping experiences, event tickets, and seller offers. In addition, the company provides acceptance solutions, an omnichannel payment integration with e-commerce platforms; risk detection and prevention solutions; and advisory and other services comprising consulting practice, proprietary analytics models, data scientists and economists, marketing services, and managed services. It provides its services under the Visa, Visa Electron, V PAY, Interlink, and PLUS brands. The company serves consumers, sellers, financial institutions, and government entities. Visa Inc. was founded in 1958 and is headquartered in San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $40.0B | $26.0B | $20.1B | $21.6B | 54.0% | 11.3% | 1.6% |
| 2024 | $35.9B | $25.6B | $19.7B | $18.7B | 51.8% | 10.0% | 14.3% |
| 2023 | $32.7B | $22.6B | $17.3B | $19.7B | 46.6% | 11.4% | 15.5% |
| 2022 | $29.3B | $19.5B | $15.0B | $17.9B | 45.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 29,310 | 32,653 | 35,926 | 40,000 |
| Cost Of Revenue | 5,733 | 6,567 | 7,042 | 7,855 |
| Gross Profit | 23,577 | 26,086 | 28,884 | 32,145 |
| Operating Expense | 3,896 | 4,159 | 4,827 | 5,589 |
| Operating Income | 19,681 | 21,927 | 24,057 | 26,556 |
| EBITDA | 19,535 | 22,624 | 25,591 | 26,003 |
| EBIT | 18,674 | 21,681 | 24,557 | 24,783 |
| Pretax Income | 18,136 | 21,037 | 23,916 | 24,194 |
| Tax Provision | 3,179 | 3,764 | 4,173 | 4,136 |
| Net Income | 14,957 | 17,273 | 19,743 | 20,058 |
| Net Income Common Stockholders | 14,630 | 16,989 | 19,457 | 19,853 |
| Total Expenses | 9,629 | 10,726 | 11,869 | 13,444 |
| Interest Expense | 538 | 644 | 641 | 589 |
| Selling General And Administration | 3,035 | 3,216 | 3,793 | 4,369 |
| Normalized EBITDA | 20,542 | 22,870 | 25,091 | 27,776 |
| Normalized Income | 15,787.78 | 17,474.97 | 19,330.24 | 21,527.90 |
| Market Cap | 596,574 | 596,574 | 596,574 | 596,574 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Visa Inc.this co. | V | $607.3B | 29.74↑ premium | 16.05 | 54.0% | 23.25 |
| JPMorgan Chase & Co. | JPM | $877.2B | 14.48 | 2.41 | 16.7% | - |
| Mastercard Incorporated | MA | $456.2B | 30.06 | 58.15 | 193.5% | 22.42 |
| Bank of America Corporation | BAC | $411.3B | 12.16 | 1.34 | 11.0% | - |
| Morgan Stanley | MS | $307.2B | 17.71 | 2.93 |
| 16.5% |
| - |
| The Goldman Sachs Group, Inc. | GS | $306.5B | 16.01 | 2.50 | 15.6% | - |
| Wells Fargo & Company | WFC | $267.3B | 11.41 | 1.48 | 13.0% | - |
| Citigroup Inc. | C | $257.6B | 15.65 | 1.16 | 7.4% | - |
| American Express Company | AXP | $220.7B | 19.78 | 6.40 | 32.4% | - |
| Peer Median | - | 15.83 | 2.46 | 16.1% | 22.42 | |