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Visa Inc. financials & valuation

Reported statements, fiscal periods and valuation definitions in one place.

Section freshness

Research as of Mar 31, 2026 · Prices as of Sep 29, 9:54 AM EDT · Fundamentals checked Sep 29, 9:26 AM EDT · Statements Mar 31, 2026

Financial statements

Period Statement

Show / hide line items

Revenue

40B

FY2025 · ended Sep 30, 2025

Operating Income

23.99B

FY2025 · ended Sep 30, 2025

Net Income

20.06B

FY2025 · ended Sep 30, 2025

Amounts in USD. B = billions · M = millions. Scroll horizontally for earlier periods.

Sources, units & calculation notes

TECHi unified data / SEC Companyfacts. Per-share figures are in USD/share; margins in %, debt/equity in ×. TTM sums four consecutive quarters; balance sheets remain period-end balances. Growth requires comparable positive values. EPS uses the provider’s reported share basis; missing direct quarters are unavailable, and mixed filing split bases are not summed. EPS growth and trend lines require matching documented accounting and split bases. Tab through controls; use arrow keys inside the table.

V annual income
FY2025Ended Sep 30, 2025Filed Nov 6, 2025Source filing	FY2024Ended Sep 30, 2024Filed Nov 6, 2025Source filing	FY2023Ended Sep 30, 2023Filed Nov 6, 2025Source filing	FY2022Ended Sep 30, 2022Filed Nov 13, 2024Source filing	1Y change	3Y annual growth
40B	35.93B	32.65B	29.31B	11.3%	10.9%
23.99B	23.6B	21B	18.81B	1.7%	8.4%
20.06B	19.74B	17.27B	14.96B	1.6%	10.3%

Earnings quality · Sep 30, 2025

Net income: 20.06B
Free cash flow: —
Stock-based compensation: —
FCF / net income: —
Accrual gap / revenue: —
Cash conversion: Not meaningful with non-positive or missing earnings

Accrual gap = (net income − operating cash flow) / revenue. TECHi descriptive thresholds: strong ≥100%, moderate 75–100%, weak <75%. CapEx timing, working capital and industry structure affect the ratio; it is not an accounting audit.

Download quarterly financial dataset

Changes between reports

Q2 Mar 31, 2026 versus Q1 Dec 31, 2025

Latest quarter compared with the preceding report. Margin changes are in percentage points (pp).

Revenue: 11.23B↑ +3.0%; Previous: 10.9B · USD
Operating margin: 64.42%↑ +2.6 pp; Previous: 61.80%
Net margin: 53.62%↓ -0.08 pp; Previous: 53.69%
Cash: 12.4B↓ -15.9%; Previous: 14.76B · USD
Debt: 23.98B↑ +13.2%; Previous: 21.18B · USD
Capex: 383M↑ +1.3%; Previous: 378M · USD
Stock-based compensation: 275M↑ +19.0%; Previous: 231M · USD

Reported-period comparison. Guidance and risk-factor changes require reading the filings.

Read the filings

Valuation & ratios

Multiples with negative or missing earnings are not meaningful. Annual free cash flow yield uses the latest fiscal year; provider forward multiples may use a different earnings horizon.

Valuation history and definitions

5Y median / percentile: Five-year observations unavailable
Forward EPS vs trailing EPS: —
Forward P/E / expected EPS growth: —

EPS growth proxy compares the available annual estimate (FY2026 period end 2026-09-30) with trailing EPS; it is not a multi-year consensus growth rate. Historical valuation uses dated observations, using price divided by the annual EPS estimate recorded that day. Legacy provider P/E observations with an unknown earnings basis are excluded. Available P/E observations: 2 since 2026-09-28.

Why provider ratios differ · reconciliation

Forward P/E can use next fiscal year, current fiscal year or next-twelve-month earnings; trailing P/E can use GAAP or adjusted earnings and different closing prices. TECHi compares figures with the same earnings basis and reporting period. Different definitions are not averaged together.

Metric	Value / formula	Source and date
Reported forward P/E	26.80	TECHi curated profile · period unknown · date unknown
Trailing P/E	31.24	Yahoo Finance · period unknown · 2026-09-29T13:26:04.607Z
Trailing EPS	11.77	Yahoo Finance · period unknown · 2026-09-29T13:26:04.607Z
Price ÷ annual EPS estimate	27.78×	TECHi calculation · FY2026 period end 2026-09-30

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