V

MKT CAP:$597B

Visa Inc.

Market Cap

$597B

Financial Services·Financial - Credit Services·🇺🇸 United States·NYSE

Financials·Financial·🇺🇸·NYSE

Stock Price

$306.75-$39.74 (-11.47%)

Apr 24, 2026

Company Details

Visa Inc. operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a tran...

CEO

Ryan McInerney

IPO Date

Mar 19, 2008

Website

www.visa.com

Key Metrics TTM

Revenue

$41.4B

+12.5% YoY

Net Income

$20.8B

EPS (Diluted)

$10.66

Free Cash Flow

$22.9B

Revenue / Share

$21.41

Gross Margin

81.1%

Operating Margin

59.2%

Net Margin

50.2%

FCF Margin

55.4%

P/S

14.4x

P/E

28.7x

Earnings Reports

Q2 2026

May 5, 2026

PENDING

Q1 2026

Jan 29, 2026

$10.9B+14.6%EPS $3.03

FY 2025

Nov 6, 2025

$40.0B+11.3%EPS $10.20

Q4 2025

Nov 6, 2025

$10.7B+11.5%EPS $2.62

Q3 2025

Jul 29, 2025

$10.2B+14.3%EPS $2.69

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$7.2B	$5.8B	$4.8B
Q3 22	$7.3B	$5.8B	$4.1B
Q4 22	$7.8B	$6.2B	$5.1B
Q1 23	$7.9B	$6.4B	$5.1B
Q2 23	$8.0B	$6.3B	$5.3B
Q3 23	$8.1B	$6.5B	$5.0B
Q4 23	$8.6B	$6.9B	$5.5B
Q1 24	$8.6B	$7.0B	$6.0B
Q2 24	$8.8B	$7.0B	$5.4B
Q3 24	$8.9B	$7.1B	$5.9B
Q4 24	$9.6B	$7.8B	$6.3B
Q1 25	$9.5B	$7.5B	$6.2B
Q2 25	$9.6B	$7.7B	$5.4B
Q3 25	$10.2B	$8.2B	$6.2B
Q4 25	$10.7B	$8.7B	$6.1B
Q1 26	$10.9B	$8.9B	$6.7B

Valuation

Quarter	P/S	P/E
Q2 22	17.2x	33.6x
Q3 22	13.8x	26.4x
Q4 22	13.0x	25.5x
Q1 23	15.2x	30.1x
Q2 23	15.4x	30.2x
Q3 23	15.4x	29.7x
Q4 23	14.5x	27.4x
Q1 24	16.1x	29.8x
Q2 24	16.5x	30.7x
Q3 24	15.1x	27.6x
Q4 24	15.2x	27.6x
Q1 25	17.0x	31.3x
Q2 25	18.0x	34.1x
Q3 25	17.6x	33.7x
Q4 25	16.4x	32.6x
Q1 26	16.4x	32.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$3.5B	$3.2B
Q3 22	$5.3B	$5.0B
Q4 22	$5.9B	$5.6B
Q1 23	$4.2B	$3.9B
Q2 23	$3.9B	$3.6B
Q3 23	$5.8B	$5.5B
Q4 23	$6.9B	$6.6B
Q1 24	$3.6B	$3.3B
Q2 24	$4.5B	$4.3B
Q3 24	$5.1B	$4.7B
Q4 24	$6.7B	$6.4B
Q1 25	$5.4B	$5.1B
Q2 25	$4.7B	$4.4B
Q3 25	$6.7B	$6.3B
Q4 25	$6.2B	$5.8B
Q1 26	$6.8B	$6.4B

Capital Expenditures

Quarter	CapEx
Q2 22	$267M
Q3 22	$235M
Q4 22	$295M
Q1 23	$249M
Q2 23	$210M
Q3 23	$295M
Q4 23	$305M
Q1 24	$267M
Q2 24	$281M
Q3 24	$400M
Q4 24	$309M
Q1 25	$345M
Q2 25	$327M
Q3 25	$421M
Q4 25	$389M
Q1 26	$378M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+25.5%	+11.1%
Q3 22	+18.7%	+51.4%
Q4 22	+18.7%	+20.3%
Q1 23	+12.4%	+24.7%
Q2 23	+11.1%	+11.0%
Q3 23	+11.7%	-0.9%
Q4 23	+10.6%	+13.3%
Q1 24	+8.8%	-5.8%
Q2 24	+9.9%	+29.1%
Q3 24	+9.6%	-4.4%
Q4 24	+11.7%	+6.8%
Q1 25	+10.1%	+22.2%
Q2 25	+9.3%	+21.6%
Q3 25	+14.3%	+34.9%
Q4 25	+11.5%	+40.0%
Q1 26	+14.6%	+27.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$190M	2.6%
Q3 22	$152M	2.1%
Q4 22	$132M	1.7%
Q1 23	$177M	2.2%
Q2 23	$214M	2.7%
Q3 23	$184M	2.3%
Q4 23	$174M	2.0%
Q1 24	$209M	2.4%
Q2 24	$242M	2.8%
Q3 24	$211M	2.4%
Q4 24	$188M	2.0%
Q1 25	$224M	2.4%
Q2 25	$259M	2.7%
Q3 25	$223M	2.2%
Q4 25	$191M	1.8%
Q1 26	$231M	2.1%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$450M	$314M
Q3 22	$406M	$313M
Q4 22	$501M	$429M
Q1 23	$431M	$332M
Q2 23	$412M	$309M
Q3 23	$447M	$297M
Q4 23	$585M	$403M
Q1 24	$471M	$293M
Q2 24	$612M	$338M
Q3 24	$534M	$378M
Q4 24	$616M	$551M
Q1 25	$624M	$306M
Q2 25	$592M	$381M
Q3 25	$669M	$421M
Q4 25	$800M	$576M
Q1 26	$723M	$410M

Revenue Segments

Quarter	Client Incentives	Data Processing Revenues	International Transaction Revenues	Service	Service, Other
Q2 22	-$2.5B	$3.5B	$2.2B	$3.5B	$474M
Q3 22	-$2.6B	$3.6B	$2.6B	$3.2B	$517M
Q4 22	-$2.9B	$3.8B	$2.9B	$3.5B	$551M
Q1 23	-$2.8B	$3.8B	$2.8B	$3.5B	$587M
Q2 23	-$2.9B	$3.8B	$2.7B	$3.8B	$551M
Q3 23	-$3.2B	$4.1B	$2.9B	$3.7B	$597M
Q4 23	-$3.4B	$4.3B	$3.2B	$3.9B	$744M
Q1 24	-$3.3B	$4.4B	$3.0B	$3.9B	$692M
Q2 24	-$3.3B	$4.3B	$3.0B	$4.0B	$756M
Q3 24	-$3.5B	$4.5B	$3.2B	$4.0B	$780M
Q4 24	-$3.6B	$4.6B	$3.5B	$4.2B	$969M
Q1 25	-$3.8B	$4.7B	$3.4B	$4.2B	$912M
Q2 25	-$3.7B	$4.7B	$3.3B	$4.4B	$937M
Q3 25	-$4.0B	$5.2B	$3.6B	$4.3B	$1.0B
Q4 25	-$4.2B	$5.4B	$3.8B	$4.6B	$1.2B
Q1 26	-$4.3B	$5.5B	$3.7B	$4.8B	$1.2B

Revenue by Geography

Quarter	Non-US	United States
Q2 22	$4.1B	$3.1B
Q3 22	$4.1B	$3.2B
Q4 22	$4.4B	$3.4B
Q1 23	$4.4B	$3.6B
Q2 23	$4.4B	$3.5B
Q3 23	$4.7B	$3.4B
Q4 23	$5.0B	$3.6B
Q1 24	$5.0B	$3.6B
Q2 24	$5.1B	$3.6B
Q3 24	$5.3B	$3.6B
Q4 24	$5.7B	$3.9B
Q1 25	$5.8B	$3.7B
Q2 25	$5.8B	$3.8B
Q3 25	$6.2B	$3.9B
Q4 25	$6.6B	$4.2B
Q1 26	$6.7B	$4.2B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$12.3B	$1.2B	$13.5B
Q3 22	$14.0B	$3.3B	$17.4B
Q4 22	$15.7B	$2.8B	$18.5B
Q1 23	$13.3B	$2.8B	$16.1B
Q2 23	$13.8B	$2.8B	$16.6B
Q3 23	$15.6B	$3.2B	$18.8B
Q4 23	$16.3B	$3.8B	$20.1B
Q1 24	$13.6B	$5.0B	$18.6B
Q2 24	$13.0B	$4.7B	$17.7B
Q3 24	$12.9B	$3.7B	$16.6B
Q4 24	$12.0B	$3.2B	$15.2B
Q1 25	$12.4B	$2.0B	$14.3B
Q2 25	$11.7B	$2.0B	$13.8B
Q3 25	$17.1B	$2.1B	$19.2B
Q4 25	$17.2B	$1.8B	$19.0B
Q1 26	$14.8B	$1.6B	$16.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	2.14B	-0.8%	-2.3%
Q3 22	2.13B	-0.6%	-2.5%
Q4 22	2.12B	-0.6%	-2.7%
Q1 23	2.10B	-0.7%	-2.6%
Q2 23	2.09B	-0.4%	-2.3%
Q3 23	2.08B	-0.6%	-2.3%
Q4 23	2.06B	-0.7%	-2.4%
Q1 24	2.04B	-1.0%	-2.7%
Q2 24	2.04B	-0.3%	-2.6%
Q3 24	2.03B	-0.5%	-2.5%
Q4 24	2.00B	-1.3%	-3.0%
Q1 25	1.99B	-0.9%	-2.9%
Q2 25	1.97B	-0.6%	-3.2%
Q3 25	1.96B	-0.8%	-3.4%
Q4 25	1.95B	-0.7%	-2.9%
Q1 26	1.93B	-0.6%	-2.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$334.4K	22K
Q3 22	$338.4K	22K
Q4 22	$293.8K	27K
Q1 23	$299.5K	27K
Q2 23	$301.3K	27K
Q3 23	$306.5K	27K
Q4 23	$298.9K	29K
Q1 24	$299.8K	29K
Q2 24	$304.7K	29K
Q3 24	$309.0K	29K
Q4 24	$304.3K	32K
Q1 25	$300.9K	32K
Q2 25	$303.6K	32K
Q3 25	$321.9K	32K
Q4 25	$314.5K	34K
Q1 26	$319.7K	34K

Revenue / Employee