Loading…
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% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 29,310 | 32,653 | 35,926 | 40,000 |
| Operating Revenue | - | 37,614 | 42,471 | 46,493 | 51,698 |
| 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 |
| Selling General And Administration | - | 3,035 | 3,216 | 3,793 | 4,369 |
| Total Expenses | - | 9,629 | 10,726 | 11,869 | 13,444 |
| Operating Income | - | 19,681 | 21,927 | 24,057 | 26,556 |
| Total Operating Income As Reported | - | 18,813 | 21,000 | 23,595 | 23,994 |
| EBITDA | - | 19,535 | 22,624 | 25,591 | 26,003 |
| Normalized EBITDA | - | 20,542 | 22,870 | 25,091 | 27,776 |
| Interest Expense | - | 538 | 644 | 641 | 589 |
| Net Interest Income | - | -538 | -644 | -641 | -589 |
| Other Income Expense | - | -1,007 | -246 | 500 | -1,773 |
| Interest Expense Non Operating | - | 538 | 644 | 641 | 589 |
| Net Non Operating Interest Income Expense | - | -538 | -644 | -641 | -589 |
| Pretax Income | - | 18,136 | 21,037 | 23,916 | 24,194 |
| Tax Provision | - | 3,179 | 3,764 | 4,173 | 4,136 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -176.22 | -44.03 | 87.24 | -303.10 |
| Net Income Continuous Operations | - | 14,957 | 17,273 | 19,743 | 20,058 |
| Net Income From Continuing And Discontinued Operation | - | 14,957 | 17,273 | 19,743 | 20,058 |
| Net Income From Continuing Operation Net Minority Interest | - | 14,957 | 17,273 | 19,743 | 20,058 |
| Net Income | - | 14,957 | 17,273 | 19,743 | 20,058 |
| Net Income Common Stockholders | - | 14,630 | 16,989 | 19,457 | 19,853 |
| Net Income Including Noncontrolling Interests | - | 14,957 | 17,273 | 19,743 | 20,058 |
| Normalized Income | - | 15,787.78 | 17,474.97 | 19,330.24 | 21,527.90 |
| Diluted NI Availto Com Stockholders | - | 14,630 | 16,989 | 19,457 | 19,853 |
| Basic Average Shares | - | 2,073 | 2,040 | 1,991 | 1,942 |
| Diluted Average Shares | - | 2,558 | 2,507 | 2,399 | 2,194 |
| Reconciled Depreciation | - | 861 | 943 | 1,034 | 1,220 |
| Reconciled Cost Of Revenue | - | 5,733 | 6,567 | 7,042 | 7,855 |
| Total Unusual Items | - | -1,007 | -246 | 500 | -1,773 |
| Total Unusual Items Excluding Goodwill | - | -1,007 | -246 | 500 | -1,773 |
| Special Income Charges | - | -868 | -927 | -462 | -2,562 |
| Other Special Charges | - | 868 | 927 | 462 | 2,562 |
| Gain On Sale Of Security | - | -139 | 681 | 962 | 789 |
| Depreciation Amortization Depletion Income Statement | - | 861 | 943 | 1,034 | 1,220 |
| Depreciation And Amortization In Income Statement | - | 861 | 943 | 1,034 | 1,220 |
| General And Administrative Expense | - | 1,699 | 1,875 | 2,233 | 2,685 |
| Other Gand A | - | 1,699 | 1,875 | 2,233 | 2,685 |
| Selling And Marketing Expense | - | 1,336 | 1,341 | 1,560 | 1,684 |
| Otherunder Preferred Stock Dividend | - | 327 | 284 | 286 | 205 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Visa Inc.this co. | V | $608.9B | 30.67↑ premium | 16.06 | 52.4% | 23.65 |
| JPMorgan Chase & Co. | JPM | $833.0B | 14.96 | 2.30 | 15.4% | - |
| Mastercard Incorporated | MA | $425.7B | 28.44 | 55.02 | 193.5% | 21.22 |
| Bank of America Corporation | BAC | $384.4B | 12.60 | 1.39 | 11.0% | - |
| Morgan Stanley | MS | $344.3B | 20.42 | 3.38 |
| - |
| - |
| - |
| - |
| 16.5% |
| - |
| The Goldman Sachs Group, Inc. | GS | $322.3B | 19.77 | 2.58 | 13.0% | - |
| Wells Fargo & Company | WFC | $249.8B | 11.71 | 1.52 | 13.0% | - |
| Citigroup Inc. | C | $230.5B | 17.70 | 1.09 | 6.1% | - |
| American Express Company | AXP | $213.2B | 19.68 | 6.37 | 32.4% | - |
| Peer Median | - | 18.69 | 2.44 | 14.2% | 21.22 | |