V
NYSE · USDVisa Inc.
Financial Services · Financial - Credit Services
CEO Ryan McInerney
Employees 34,100
R&D / revenue 0.0%
Last price
$402.61+0.72%last session
Market cap
$751.7B
P/E (TTM)
34.2x
From 52w high
−0.5%
From 52w low
+37.0%
1-year return
+20.3%
RSI 14 · vs SMA200
73.6 · +18.8%
IS score
73.5/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
V SPY XLF (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe100Profitability
65Growth
38Value
77Momentum
100Risk (safety)
81Quality
71Balance sheet
85Earnings quality
Flags
Strengths
✓ Congress buying
Warnings
None of the computed warning flags fires for V (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 5 / 9Beta 0.763 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
12 open-market sales, $57.5M
Form 144 notices (12m): 21, $79.1M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+110
297 new holders, 128 closed
4,549 filers hold 78.8% · 2,034 added, 1,757 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+556
1,988 funds adding shares
1,432 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
39.4%
20-day avg 48.5%, 50-day avg 46.5%
Latest 9.1 pp under its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$40.0B
Revenue growth YoY+11.3%
Gross margin80.4%
Operating income$24.0B
Operating margin60.0%
Net income$20.1B
Net margin50.1%
EPS (diluted)$10.20
Cash flow
Operating cash flow$23.1B
Capital expenditure$1.5B
Free cash flow$21.6B
FCF conversion (FCF / OCF)93.6%
Stock-based compensation$897.0M
FCF less SBC$20.7B
Buybacks$13.4B
Dividends$4.6B
Balance sheet & returns
Cash & short-term investments$22.0B
Total debt$25.2B
Net debt$3.2B
Shareholders' equity$37.9B
Goodwill & intangibles$47.5B
Debt / equity0.68
ROE (TTM)61.3%
ROIC (TTM)34.2%
Operating margin by fiscal year
Revenue $24.1B (FY2021) to $40.0B (FY2025), a 13.5% CAGR.
Valuation
P/E (TTM)34.2x
EV / EBITDA26.2x
Price / sales16.90x
Price / FCF35.8x
FCF yield2.80%
Buyback yield1.78%
SBC / revenue2.1%
Price / book21.90x
Forward P/E FY202726.8x
Forward P/E FY202823.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $424.94 across 18 analysts last quarter is theirs, not ours.
V vs industry median
165 companies in Financial - Credit Services
V (TTM)Industry median
Asset turnover 0.47 vs industry 0.20 · financial leverage 2.69
Earnings delivery
Next report 2026-10-27 · consensus EPS $3.4492%
beat rate, 11 of 12 quarters
+3.0%
median EPS surprise
8
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-28. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| V Visa Inc. | $751.7B | 34.2x | 61.3% | 50.8% | +11.3% | +20.3% |
| MA Mastercard Incorporated | $540.9B | 33.9x | 241.1% | 47.3% | +16.0% | +12.3% |
| AXP American Express Company | $211.8B | 19.0x | 34.4% | 14.4% | +9.4% | −2.9% |
| COF Capital One Financial Corpor | $123.8B | 12.5x | 9.4% | 15.2% | +36.7% | −0.3% |
| JPM JPMorgan Chase & Co. | $903.0B | 14.2x | 17.8% | 25.7% | +8.0% | +13.8% |
| BAC Bank of America Corporation | $358.2B | 12.0x | 11.2% | 18.4% | +3.0% | — |
| HSBC HSBC Holdings plc | $324.6B | 13.5x | 13.8% | 23.2% | +8.7% | — |
| MS Morgan Stanley | $284.8B | 14.2x | 18.5% | 16.2% | +16.7% | — |
12-month window: SPY +15.9%, sector ETF XLF +7.2%. Past returns describe history only.
Recent 8-K filings
2026-09-23Other Events
2026-07-28Earnings Release; Other Events; Exhibits
2026-07-15Bylaws Amendment; Exhibits
2026-06-26Other Events
2026-05-12Material Agreement; Other Events; Exhibits
2026-04-28Earnings Release; Other Events; Exhibits
Context
Shares outstanding1,867,047,346
Free float91.1%
Institutional ownership78.8%
Beta0.76
Dividend yield0.67%
Last dividend$0.67 on 2026-08-11
50 / 200-day average$371.86 / $338.94
Mega-cap Financial Services median P/E14.6x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where V sits among 43 scored companies in Financial - Credit Services (0 = lowest value, 100 = highest). It is a position, not a grade. Balance-sheet ratios built for operating companies are n/a for lenders and insurers.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | V | Industry percentile |
|---|---|---|
| P/E (TTM) | 33.3x | 97th |
| PEG (P/E ÷ 3-yr EPS CAGR) | 2.43 | 96th |
| Price / sales | 16.9x | 100th |
| Price / book | 21.4x | 98th |
| Price / tangible book | — | |
| Price / free cash flow | n/a | |
| Price / operating cash flow | n/a | |
| Enterprise value | n/a | |
| EV / sales | n/a | |
| EV / EBITDA | n/a | |
| EV / EBIT | n/a | |
| EV / free cash flow | n/a | |
| Earnings yield | 3.0% | 21st |
| FCF yield | n/a | |
| Operating cash flow yield | n/a | |
| Graham number (per share) | $69.18 | 47th |
Profitability (TTM)
| Measure | V | Industry percentile |
|---|---|---|
| Gross margin | n/a | |
| EBITDA margin | n/a | |
| Operating margin | 60.7% | 95th |
| EBIT margin | 62.4% | 100th |
| Net margin | 50.8% | 100th |
| NOPAT margin | 50.9% | 93rd |
| FCF margin | n/a | |
| Operating cash flow margin | n/a | |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 11.6% | 31st |
| Stock comp / revenue | 2.1% | 79th |
| Effective tax rate | 16.2% | 8th |
Returns on capital
| Measure | V | Industry percentile |
|---|---|---|
| ROE (on average equity) | 61.2% | 93rd |
| ROA | 23.2% | 95th |
| ROIC | n/a | |
| ROCE | n/a | |
| Return on tangible assets | 28.5% | 95th |
| Cash ROIC (OCF / invested capital) | n/a | |
| Gross profitability (GP / assets) | n/a | |
| ROIC, 3-yr average | n/a | |
| ROIC, 5-yr average | n/a | |
| ROE, 5-yr average | 49.7% | 94th |
| Incremental ROIC | n/a |
Growth
| Measure | V | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 14.4% | 54th |
| Revenue growth (QoQ) | 3.6% | 67th |
| Revenue CAGR, 3 yr | 11.8% | 57th |
| Revenue CAGR, 5 yr | 14.5% | 60th |
| Gross profit CAGR, 3 yr | n/a | |
| Operating income CAGR, 3 yr | 9.5% | 31st |
| Net income growth (TTM YoY) | 11.4% | 30th |
| Net income CAGR, 3 yr | 11.0% | 35th |
| EPS growth (TTM YoY) | 12.9% | 26th |
| EPS CAGR, 3 yr | 13.7% | 46th |
| EPS CAGR, 5 yr | 18.6% | 88th |
| FCF growth (TTM YoY) | n/a | |
| FCF CAGR, 3 yr | n/a | |
| Operating cash flow CAGR, 3 yr | n/a | |
| Book value CAGR, 3 yr | -1.0% | 11th |
| Dividend CAGR, 3 yr | 5.9% | 65th |
| Sustainable growth rate | 47.7% | 91st |
Margin history & stability
| Measure | V | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | n/a | |
| Operating margin, 3-yr average | 62.7% | 97th |
| Net margin, 3-yr average | 52.6% | 100th |
| FCF margin, 3-yr average | n/a | |
| Revenue stability (0-1) | 0.99 | 97th |
| Earnings stability (0-1) | 0.98 | 97th |
| Margin stability (0-1) | 0.99 | 100th |
Liquidity (latest quarter)
| Measure | V | Industry percentile |
|---|---|---|
| Cash & short-term investments | n/a | |
| Net cash (− = net debt) | n/a | |
| Working capital | n/a | |
| Current ratio | n/a | |
| Quick ratio | n/a | |
| Cash ratio (cash + ST investments / current liabilities) | n/a | |
| Defensive interval (days) | n/a |
Leverage & solvency (latest quarter)
| Measure | V | Industry percentile |
|---|---|---|
| Total debt | n/a | |
| Debt / equity | n/a | |
| Net debt / equity | n/a | |
| Debt / assets | n/a | |
| Debt / capital | n/a | |
| Debt / EBITDA | n/a | |
| Net debt / EBITDA | n/a | |
| Interest coverage (EBIT / interest) | n/a | |
| Cash interest coverage | n/a | |
| Debt payback (years of OCF) | n/a | |
| Liabilities / assets | 62.8% | 17th |
| IS credit model rating | AA+ | |
| Implied credit spread (bps) | 65 | 2nd |
Efficiency
| Measure | V | Industry percentile |
|---|---|---|
| Asset turnover | n/a | |
| Fixed asset turnover | n/a | |
| Inventory turnover | n/a | |
| Receivables turnover | n/a | |
| Days sales outstanding | n/a | |
| Days inventory outstanding | n/a | |
| Days payables outstanding | n/a | |
| Cash conversion cycle (days) | n/a | |
| Capex / revenue | n/a | |
| Capex / depreciation | n/a | |
| Operating expense ratio | n/a |
Cash flow & earnings quality
| Measure | V | Industry percentile |
|---|---|---|
| Operating cash flow / net income | n/a | |
| FCF / net income | n/a | |
| FCF / operating cash flow | n/a | |
| Capex / operating cash flow | n/a | |
| Accruals ratio | n/a | |
| Sloan accruals ratio | n/a | |
| Earnings quality score (0-1) | n/a |
Scores & forensic checks
| Measure | V | Industry percentile |
|---|---|---|
| IS score | 73 | 93rd |
| IS profitability | 100 | 95th |
| IS growth | 65 | 62nd |
| IS value | 38 | 10th |
| IS momentum | 77 | 51st |
| IS risk (safety) | 100 | 45th |
| IS quality | 81 | 95th |
| IS balance sheet | 71 | 93rd |
| IS earnings quality | 85 | 93rd |
| IS cash flow | 76 | 57th |
| Piotroski F-score (0-9) | 5 | 19th |
| Altman Z-score | — | |
| Beneish M-score | — | |
| Ohlson O-score | −9.02 | 5th |
| IS credit score | 92 | 93rd |
Size (TTM)
| Measure | V | Industry percentile |
|---|---|---|
| Market cap | $751.7B | 100th |
| Revenue | $44.5B | 95th |
| EBITDA | $29.1B | 100th |
| Net income | $22.6B | 100th |
| Free cash flow | n/a | |
| Total assets | $94.6B | 88th |
| Shareholders' equity | $35.2B | 95th |
| Employees | 34,100 | 93rd |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-10-01 | Mcinerney Ryan Director, Chief Executive Officer |
Option exercise | 5,875 | $134.76 | $791,715 | 21,049 |
| 2026-10-01 | Mcinerney Ryan Director, Chief Executive Officer |
Open-market sale | 5,875 | $358.81 | $2.1M | 15,174 |
| 2026-10-01 | Mcinerney Ryan Director, Chief Executive Officer |
Option exercise | 5,875 | $134.76 | $791,715 | 52,874 |
| 2026-09-09 | Rottenberg Julie B GENERAL COUNSEL |
Option exercise | 1,867 | $134.76 | $251,597 | 20,271 |
| 2026-09-09 | Rottenberg Julie B GENERAL COUNSEL |
Open-market sale | 1,867 | $368.34 | $687,691 | 18,404 |
| 2026-09-09 | Rottenberg Julie B GENERAL COUNSEL |
Option exercise | 1,867 | $134.76 | $251,597 | 3,734 |
| 2026-09-01 | Mcinerney Ryan Director, Chief Executive Officer |
Option exercise | 5,875 | $134.76 | $791,715 | 21,049 |
| 2026-09-01 | Mcinerney Ryan Director, Chief Executive Officer |
Open-market sale | 5,875 | $379.65 | $2.2M | 15,174 |
| 2026-09-01 | Mcinerney Ryan Director, Chief Executive Officer |
Option exercise | 5,875 | $134.76 | $791,715 | 58,749 |
| 2026-08-31 | Rottenberg Julie B GENERAL COUNSEL |
Option exercise | 2,028 | $109.82 | $222,715 | 20,432 |
| 2026-08-31 | Rottenberg Julie B GENERAL COUNSEL |
Open-market sale | 2,028 | $381.35 | $773,378 | 18,404 |
| 2026-08-31 | Rottenberg Julie B GENERAL COUNSEL |
Option exercise | 2,028 | $109.82 | $222,715 | 0 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 1 | 5,492 | — |
| Open-market sale | Disposed | 12 | 161,810 | $57.5M |
| Option exercise | Disposed | 11 | 132,712 | $12.9M |
| Option exercise | Acquired | 11 | 132,712 | $12.9M |
| Tax withholding | Disposed | 2 | 8,706 | $3.2M |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
12 months: 21 notices · 226,338 shares · $79.1M| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2026-10-01 | Mcinerney Ryan | 5,875 | $2.1M |
| 2026-09-09 | Rottenberg Julie B | 1,867 | $687,691 |
| 2026-09-01 | Mcinerney Ryan | 5,875 | $2.2M |
| 2026-08-31 | Rottenberg Julie B | 2,028 | $773,378 |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 40 trades (26 purchases) · Senate 12 (6 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-09-25 | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-10-09 |
| 2026-09-04 | Sheldon Whitehouse | Senate | Sale | $1,001 - $15,000 | 2026-10-01 |
| 2026-09-04 | Sheldon Whitehouse | Senate | Sale | $1,001 - $15,000 | 2026-10-01 |
| 2026-09-04 | Sheldon Whitehouse | Senate | Sale (Partial) | $1,001 - $15,000 | 2026-10-01 |
| 2026-09-04 | Sheldon Whitehouse | Senate | Sale (Partial) | $1,001 - $15,000 | 2026-10-01 |
| 2026-07-30 | Rich McCormick | House | Sale | $1,001 - $15,000 | 2026-08-17 |
| 2026-07-30 | Rich McCormick | House | Sale | $1,001 - $15,000 | 2026-08-17 |
| 2026-06-02 | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-07-08 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 137,669,061 | $47.2B | 7.37% |
| VANGUARD CAPITAL MANAGEMENT LLC | 106,150,500 | $36.4B | 5.69% |
| STATE STREET CORP | 82,872,209 | $28.4B | 4.44% |
| GEODE CAPITAL MANAGEMENT, LLC | 45,285,275 | $15.5B | 2.43% |
| FMR LLC | 42,929,995 | $14.7B | 2.30% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 36,844,619 | $12.6B | 1.97% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 35,472,043 | $12.2B | 1.90% |
| TCI Fund Management Ltd | 30,494,133 | $10.5B | 1.63% |
| Capital World Investors | 28,269,307 | $9.7B | 1.51% |
| Capital International Investors | 24,443,349 | $8.4B | 1.31% |
| BANK OF AMERICA CORP /DE/ | 23,172,097 | $8.0B | 1.24% |
| MORGAN STANLEY | 21,641,835 | $7.4B | 1.16% |
| NORGES BANK | 16,215,161 | $5.6B | 0.87% |
| GOLDMAN SACHS GROUP INC | 15,837,579 | $5.4B | 0.85% |
| WELLS FARGO & COMPANY/MN | 13,864,137 | $4.8B | 0.74% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 4,549 | 78.8% | 297 | 2,034 | 1,757 | 128 |
| 2026-03-31 | 4,439 | 76.5% | 209 | 1,936 | 1,856 | 249 |
| 2025-12-31 | 4,566 | 78.1% | 530 | 1,774 | 1,821 | 125 |
| 2025-09-30 | 4,259 | 77.1% | 180 | 1,822 | 1,741 | 143 |
| 2025-06-30 | 4,296 | 78.6% | 234 | 1,776 | 1,822 | 100 |
| 2025-03-31 | 4,229 | 79.8% | 222 | 1,643 | 1,897 | 145 |
| 2024-12-31 | 4,230 | 79.5% | 588 | 1,641 | 1,578 | 103 |
| 2024-09-30 | 3,817 | 79.7% | 220 | 1,687 | 1,494 | 127 |
| 2024-06-30 | 3,774 | 79.5% | 167 | 1,788 | 1,385 | 128 |
| 2024-03-31 | 3,797 | 79.4% | 238 | 1,659 | 1,481 | 102 |
| 2023-12-31 | 3,715 | 78.9% | 427 | 1,507 | 1,417 | 101 |
| 2023-09-30 | 3,454 | 79.0% | 160 | 1,496 | 1,376 | 95 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-04-30 | SCHEDULE 13G | Vanguard Capital Management | 7.3% | 123,699,316 |
| 2026-03-27 | SCHEDULE 13G/A | The Vanguard Group | 0.0% | 0 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VITSX | 0.83% | $19.4B |
| VSMPX | 0.83% | $19.4B |
| VTI | 0.83% | $19.4B |
| VTSAX | 0.83% | $19.4B |
| VOO | 0.91% | $15.8B |
| VFINX | 0.91% | $15.8B |
Share structure
Shares outstanding1,867,047,346
Float1,700,374,591
Free float91.1%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $24.1B | $29.3B | $32.7B | $35.9B | $40.0B |
| Cost of revenue | $5.0B | $5.7B | $6.6B | $7.0B | $7.9B |
| Gross profit | $19.1B | $23.6B | $26.1B | $28.9B | $32.1B |
| R&D | $0 | $0 | $0 | $0 | $0 |
| SG&A | $2.5B | $3.0B | $3.2B | $3.8B | $4.4B |
| Operating income | $15.8B | $18.8B | $21.0B | $23.6B | $24.0B |
| EBITDA | $17.4B | $19.5B | $22.6B | $25.6B | $26.0B |
| Pretax income | $16.1B | $18.1B | $21.0B | $23.9B | $24.2B |
| Income tax | $3.8B | $3.2B | $3.8B | $4.2B | $4.1B |
| Net income | $12.3B | $15.0B | $17.3B | $19.7B | $20.1B |
| EPS, diluted | $5.63 | $7.00 | $8.28 | $9.73 | $10.20 |
| Diluted shares | 2.2B | 2.1B | 2.1B | 2.0B | 2.0B |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $18.5B | $18.5B | $20.1B | $15.2B | $22.0B |
| Receivables | $3.7B | $4.0B | $4.5B | $7.0B | $7.3B |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $27.6B | $30.2B | $33.5B | $34.0B | $37.8B |
| PP&E, net | $2.7B | $3.2B | $3.4B | $3.8B | $4.2B |
| Goodwill & intangibles | $43.6B | $42.9B | $44.1B | $45.8B | $47.5B |
| Total assets | $82.9B | $85.5B | $90.5B | $94.5B | $99.6B |
| Accounts payable | $266.0M | $340.0M | $375.0M | $479.0M | $555.0M |
| Total current liabilities | $15.7B | $20.9B | $23.1B | $26.5B | $35.0B |
| Long-term debt | $20.0B | $20.2B | $20.5B | $20.8B | $19.6B |
| Total liabilities | $45.3B | $49.9B | $51.8B | $55.4B | $61.7B |
| Shareholders' equity | $37.6B | $35.6B | $38.7B | $39.1B | $37.9B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $12.3B | $15.0B | $17.3B | $19.7B | $20.1B |
| Depreciation & amortization | $804.0M | $861.0M | $943.0M | $1.0B | $1.2B |
| Stock-based compensation | $542.0M | $602.0M | $765.0M | $850.0M | $897.0M |
| Change in working capital | −$6.7B | −$7.7B | −$10.0B | −$15.4B | −$11.8B |
| Operating cash flow | $15.2B | $18.8B | $20.8B | $19.9B | $23.1B |
| Capital expenditure | −$705.0M | −$970.0M | −$1.1B | −$1.3B | −$1.5B |
| Free cash flow | $14.5B | $17.9B | $19.7B | $18.7B | $21.6B |
| Investing cash flow | −$152.0M | −$4.3B | −$2.0B | −$1.9B | $708.0M |
| Net debt issued / repaid | −$3.0B | $2.2B | −$2.2B | $0 | $3.9B |
| Buybacks | −$8.7B | −$11.6B | −$12.1B | −$16.7B | −$13.4B |
| Dividends paid | −$2.8B | −$3.2B | −$3.8B | −$4.2B | −$4.6B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 79.4% | 80.4% | 79.9% | 80.4% | 80.4% |
| Operating margin | 65.6% | 64.2% | 64.3% | 65.7% | 60.0% |
| Net margin | 51.1% | 51.0% | 52.9% | 55.0% | 50.1% |
| FCF margin | 60.2% | 61.0% | 60.3% | 52.0% | 53.9% |
| ROE | 33.4% | 40.9% | 46.5% | 50.7% | 52.1% |
| ROIC | 30.2% | 39.3% | 43.6% | 43.5% | 48.4% |
| ROA | 15.0% | 17.8% | 19.6% | 21.3% | 20.7% |
| Debt / equity | 0.56 | 0.63 | 0.54 | 0.53 | 0.66 |
| Interest coverage | 32.3x | 34.7x | 33.7x | 38.3x | 42.1x |
| Current ratio | 1.75 | 1.45 | 1.45 | 1.28 | 1.08 |
| Revenue growth | +10.3% | +21.6% | +11.4% | +10.0% | +11.3% |
| EPS growth | +15.0% | +24.9% | +18.3% | +17.8% | +4.6% |
| P/E at year end | 38.1x | 24.5x | 27.0x | 27.6x | 33.0x |
| EV / EBITDA at year end | 27.1x | 19.0x | 20.7x | 21.5x | 25.6x |
| FCF yield at year end | 3.09% | 4.88% | 4.22% | 3.42% | 3.26% |
| Dividend payout | 22.7% | 21.4% | 21.7% | 21.4% | 23.1% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Data Processing Revenues | $12.8B | $14.4B | $16.0B | $17.7B | $20.0B |
| Service | $11.5B | $13.4B | $14.8B | $16.1B | $17.5B |
| International Transaction Revenues | $6.5B | $9.8B | $11.6B | $12.7B | $14.2B |
| Service, Other | $1.7B | $2.0B | $2.5B | $3.2B | $4.1B |
| Client Incentives | −$8.4B | −$10.3B | −$12.3B | −$13.8B | −$15.8B |
Revenue by region · FY2025
Non-US$24.4B · 61%
UNITED STATES$15.6B · 39%
Street estimates by fiscal year
Next report 2026-10-27 · consensus EPS $3.44 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $45.9B | $45.7B – $46.0B | $13.23 | $13.13 – $13.28 | 24 | 30.4x |
| 2027 | $50.8B | $50.2B – $51.4B | $15.04 | $14.67 – $15.26 | 25 | 26.8x |
| 2028 | $56.1B | $54.1B – $58.3B | $17.07 | $16.27 – $18.07 | 17 | 23.6x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-07-28 | $3.23 | $3.32 | +2.8% | $11.4B | $11.6B | +2.0% |
| 2026-04-28 | $3.10 | $3.31 | +6.8% | $10.8B | $11.2B | +4.5% |
| 2026-01-29 | $3.14 | $3.17 | +1.0% | $10.7B | $10.9B | +2.0% |
| 2025-10-28 | $2.97 | $2.98 | +0.3% | $10.6B | $10.7B | +1.0% |
| 2025-07-29 | $2.85 | $2.98 | +4.6% | $9.8B | $10.2B | +3.3% |
| 2025-04-29 | $2.68 | $2.76 | +3.0% | $9.6B | $9.6B | +0.4% |
| 2025-01-30 | $2.66 | $2.75 | +3.4% | $9.3B | $9.5B | +1.7% |
| 2024-10-29 | $2.58 | $2.71 | +5.0% | $9.5B | $9.6B | +1.4% |
| 2024-07-23 | $2.42 | $2.42 | 0.0% | $8.9B | $8.9B | −0.2% |
| 2024-04-23 | $2.44 | $2.51 | +2.9% | $8.6B | $8.8B | +1.8% |
| 2024-01-25 | $2.34 | $2.41 | +3.0% | $8.5B | $8.6B | +1.1% |
| 2023-10-24 | $2.24 | $2.33 | +4.0% | $8.6B | $8.6B | +0.6% |
| 2023-07-25 | $2.12 | $2.16 | +1.9% | $8.1B | $8.1B | +0.7% |
| 2023-04-25 | $1.99 | $2.09 | +5.0% | $7.8B | $8.0B | +2.5% |
| 2023-01-26 | $2.01 | $2.18 | +8.5% | $7.7B | $7.9B | +3.0% |
| 2022-10-25 | $1.86 | $1.93 | +3.8% | $7.6B | $7.8B | +3.1% |
| 2022-07-26 | $1.75 | $1.98 | +13.1% | $7.1B | $7.3B | +2.8% |
| 2022-04-26 | $1.65 | $1.79 | +8.5% | $6.8B | $7.2B | +5.2% |
| 2022-01-27 | $1.70 | $1.81 | +6.5% | $6.6B | $7.1B | +6.9% |
| 2021-10-26 | $1.54 | $1.62 | +5.2% | $6.5B | $6.6B | +0.7% |
| 2021-07-27 | $1.35 | $1.49 | +10.4% | $6.5B | $6.1B | −6.1% |
| 2021-04-27 | $1.27 | $1.38 | +8.7% | $5.5B | $5.7B | +3.4% |
| 2021-01-28 | $1.28 | $1.42 | +10.9% | $5.5B | $5.7B | +2.9% |
| 2020-10-28 | $1.09 | $1.12 | +2.8% | $16.6B | $5.1B | −69.2% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $1.9B | 5,045,018 | 140,287 |
| 2026-08-24 | $2.5B | 6,541,937 | 176,233 |
| 2026-08-17 | $2.3B | 6,324,110 | 162,842 |
| 2026-08-10 | $1.8B | 4,991,054 | 152,501 |
| 2026-08-03 | $2.4B | 6,440,913 | 165,234 |
| 2026-07-27 | $4.7B | 12,879,549 | 273,126 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 39.4% | 1,598,766 | 4,057,722 |
| 2026-10-14 | 47.4% | 1,519,283 | 3,208,154 |
| 2026-10-13 | 51.3% | 1,213,602 | 2,367,663 |
| 2026-10-12 | 42.5% | 886,461 | 2,087,690 |
| 2026-10-09 | 43.6% | 931,286 | 2,136,844 |
| 2026-10-08 | 52.2% | 1,222,904 | 2,342,339 |
| 2026-10-07 | 38.0% | 584,520 | 1,537,333 |
| 2026-10-06 | 46.5% | 575,134 | 1,237,241 |
| 2026-10-05 | 64.7% | 1,035,705 | 1,601,553 |
| 2026-10-02 | 54.6% | 666,469 | 1,221,535 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +0.2% | 50% | 18 |
| Feb | +2.4% | 67% | 18 |
| Mar | +0.4% | 53% | 19 |
| Apr | +4.9% | 67% | 18 |
| May | +1.2% | 72% | 18 |
| Jun | −0.1% | 39% | 18 |
| Jul | +1.5% | 61% | 18 |
| Aug | +1.5% | 72% | 18 |
| Sep | −1.9% | 39% | 18 |
| Oct | +2.4% | 67% | 18 |
| Nov | +3.0% | 78% | 18 |
| Dec | +2.4% | 72% | 18 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1473.6
MFI64.8
ADX25.9
Stochastic %K / %D91.3 / 92.1
Williams %R-4.4
CCI163
TSI / signal29.6 / 11.7
Chaikin money flow0.08
ATR$6.91
Bollinger width14.6%
Volume vs 20-day avg1.14x
SupertrendUp
Moving averages and bands
level (price vs level)SMA 20$374.72 (+7.4%)
SMA 50$372.48 (+8.1%)
SMA 200$339.03 (+18.8%)
EMA 21$379.97 (+6.0%)
EMA 50$371.72 (+8.3%)
EMA 200$349.16 (+15.3%)
Bollinger upper$402.12 (+0.1%)
Bollinger lower$347.32 (+15.9%)
Parabolic SAR$379.98 (+6.0%)
Open the live chart, 110+ indicatorsAbout Visa Inc.
Visa Inc. functions globally as a leading technology company dedicated to payments. Its primary role is to enable the secure and efficient digital transfer of funds among a wide array of participants, including individual consumers, retail businesses, banking institutions, corporations, strategic partners, and governmental bodies. At the heart of its operations is VisaNet, a highly sophisticated transaction processing network that handles the critical functions of authorizing, clearing, and settling all payment transactions. In addition to this core infrastructure, the company also provides a variety of card products, innovative digital platforms, and an extensive range of supplementary value-added services. These offerings are distributed under several widely recognized brands, including Visa, Visa Electron, Interlink, VPAY, and PLUS. Demonstrating its commitment to enhancing user experience, Visa Inc. has established a key strategic partnership with Ooredoo in Qatar, focused on improving payment solutions for Visa cardholders and Ooredoo customers within the country. The company was established in 1958 and its corporate headquarters are situated in San Francisco, California.
https://www.visa.com/en-us
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Ryan McInerney | CEO & Director | $7.1M | 1975 |
| Rajat Taneja | President of Technology | $4.6M | 1964 |
| Kelly Mahon Tullier | Vice Chair, Chief People & Corporate Affairs Officer and Corporate Secretary | $3.2M | 1966 |
| Christopher Suh | Chief Financial Officer | $3.1M | 1970 |
| Paul D. Fabara | Chief Risk & Client Services Officer | $2.6M | 1966 |
| Julie Rottenberg | General Counsel | — | 1969 |
| Oliver Jenkyn | Group President of Global Markets | — | 1973 |
| Peter Andreski | Senior Vice President, Global Corporate Controller & Chief Accounting Officer | — | 1973 |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Ryan Mclnerney Chief Executive Officer | 2025 | $1.5M | $18.7M | $5.2M | $31.6M |
| Rajat Taneja President, Technology | 2025 | $1.2M | $14.7M | $3.4M | $22.7M |
| Kelly Mahon Tullier Vice Chair, Chief People and Corporate Affairs Officer | 2025 | $903,478 | $9.5M | $2.2M | $14.6M |
| Chris Suh Chief Financial Officer | 2025 | $903,478 | $5.8M | $2.2M | $11.2M |
| Paul Fabara Chief Risk and Client Services Officer | 2025 | $803,087 | $5.8M | $1.8M | $9.7M |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-08-11 | $0.67 | 2026-09-01 |
| 2026-05-12 | $0.67 | 2026-06-01 |
| 2026-02-10 | $0.67 | 2026-03-02 |
| 2025-11-12 | $0.67 | 2025-12-01 |
| 2025-08-12 | $0.59 | 2025-09-02 |
| 2025-05-13 | $0.59 | 2025-06-02 |
| 2025-02-11 | $0.59 | 2025-03-03 |
| 2024-11-12 | $0.59 | 2024-12-02 |
Moat model
Narrow · Efficient Scale · 2026-06-30Cost advantage87
Intangibles47
Switching costs64
Network effect65
Efficient scale100
Our component scores (0-100) and overall 69.9; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17