V FY 2018 Earnings Report — Visa Inc. Revenue & Financial Results | Market Cap Arena

FY 2018 Earnings

Reported November 16, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$20.6B	—	$18.4B	—	12.3%
Op. Income	$13.0B	—	$12.1B	—	6.7%
Gross Margin	81.3%	—	82.3%	—	-1.0pp
Net Margin	50.0%	—	36.5%	—	13.5pp
EPS (Diluted)	$4.42	—	$2.80	—	57.9%
Free Cash Flow	$12.0B	—	$8.5B	—	41.1%

Revenue Flow

Item	Amount
REVENUE	$20.6B
Cost of Revenue	$3.9B
GROSS PROFIT	$16.8B
R&D Expenses	$0
Selling & Marketing	$988M
General & Administrative	$1.6B
SG&A Expenses	$2.6B
Other Expenses	$1.2B
Operating Expenses	$3.8B
Cost & Expenses	$7.7B
OPERATING INCOME	$13.0B
Interest Income	$0
Interest Expense	$612M
Other Income/Expenses	-$148M
INCOME BEFORE TAX	$12.8B
Income Tax Expense	$2.5B
Net Income from Continuing Ops	$10.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10.3B
Net Income Deductions	-$359M
BOTTOM LINE NET INCOME	$10.3B
D&A	$613M
EBIT	$13.4B
EBITDA	$14.0B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$20.6B
Cost of Revenue	$3.9B
GROSS PROFIT	$16.8B
R&D Expenses	$0
Selling & Marketing	$988M
General & Administrative	$1.6B
SG&A Expenses	$2.6B
Other Expenses	$1.2B
Operating Expenses	$3.8B
Cost & Expenses	$7.7B
OPERATING INCOME	$13.0B
Interest Income	$0
Interest Expense	$612M
Other Income/Expenses	-$148M
INCOME BEFORE TAX	$12.8B
Income Tax Expense	$2.5B
Net Income from Continuing Ops	$10.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$10.3B
Net Income Deductions	-$359M
BOTTOM LINE NET INCOME	$10.3B
D&A	$613M
EBIT	$13.4B
EBITDA	$14.0B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$10.3B
Depreciation & Amortization	$613M
Stock-Based Compensation	$327M
Deferred Income Tax	-$1.3B
Other Non-Cash Items	$5.4B
Change in Working Capital	-$2.7B
OPERATING CASH FLOW	$12.7B
Capital Expenditure	-$718M
Acquisitions (Net)	-$196M
Purchases of Investments	-$5.8B
Sales/Maturities of Investments	$3.6B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$3.1B
Net Debt Issuance	-$1.8B
Common Stock Repurchased	-$7.2B
Common Dividends Paid	-$1.9B
Other Financing Activities	-$380M
NET CASH FROM FINANCING	-$11.2B
FREE CASH FLOW	$12.0B
Net Change in Cash	-$1.7B

Balance Sheet

Item	Amount
Cash & Equivalents	$8.2B
Short-Term Investments	$3.5B
Net Receivables	$2.8B
Inventory	$0
Other Current Assets	$3.2B
TOTAL CURRENT ASSETS	$18.2B
PP&E (Net)	$2.5B
Goodwill	$15.2B
Intangible Assets	$27.6B
Long-Term Investments	$4.1B
Tax Assets	$0
Other Non-Current Assets	$1.7B
TOTAL NON-CURRENT ASSETS	$51.0B
TOTAL ASSETS	$69.2B
Account Payables	$183M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$10.0B
TOTAL CURRENT LIABILITIES	$11.3B
Long-Term Debt	$16.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$4.6B
Other Non-Current Liabilities	$2.7B
TOTAL NON-CURRENT LIABILITIES	$23.9B
TOTAL LIABILITIES	$35.2B
Common Stock	$0
Additional Paid-In Capital	$16.7B
Retained Earnings	$11.3B
Treasury Stock	$0
Accum. Other Comp. Income	$547M
Other Equity	-$7M
TOTAL STOCKHOLDERS' EQUITY	$34.0B
Minority Interest	$0
TOTAL EQUITY	$34.0B
TOTAL LIABILITIES & EQUITY	$69.2B
Total Debt	$16.6B
Net Debt	$8.5B