V FY 2023 Earnings Report — Visa Inc. Revenue & Financial Results | Market Cap Arena

FY 2023 Earnings

Reported November 15, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$32.7B	—	$29.3B	—	11.4%
Op. Income	$21.0B	—	$18.8B	—	11.6%
Gross Margin	79.9%	—	80.4%	—	-0.6pp
Net Margin	52.9%	—	51.0%	—	1.9pp
EPS (Diluted)	$8.28	—	$7.00	—	18.3%
Free Cash Flow	$19.7B	—	$17.9B	—	10.2%

Revenue Flow

Item	Amount
REVENUE	$32.7B
Cost of Revenue	$6.6B
GROSS PROFIT	$26.1B
R&D Expenses	$0
Selling & Marketing	$1.3B
General & Administrative	$1.9B
SG&A Expenses	$3.2B
Other Expenses	$1.9B
Operating Expenses	$5.1B
Cost & Expenses	$11.7B
OPERATING INCOME	$21.0B
Interest Income	$0
Interest Expense	$644M
Other Income/Expenses	$37M
INCOME BEFORE TAX	$21.0B
Income Tax Expense	$3.8B
Net Income from Continuing Ops	$17.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$17.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17.3B
D&A	$943M
EBIT	$21.7B
EBITDA	$22.6B
EPS	$8
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$32.7B
Cost of Revenue	$6.6B
GROSS PROFIT	$26.1B
R&D Expenses	$0
Selling & Marketing	$1.3B
General & Administrative	$1.9B
SG&A Expenses	$3.2B
Other Expenses	$1.9B
Operating Expenses	$5.1B
Cost & Expenses	$11.7B
OPERATING INCOME	$21.0B
Interest Income	$0
Interest Expense	$644M
Other Income/Expenses	$37M
INCOME BEFORE TAX	$21.0B
Income Tax Expense	$3.8B
Net Income from Continuing Ops	$17.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$17.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$17.3B
D&A	$943M
EBIT	$21.7B
EBITDA	$22.6B
EPS	$8
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$17.3B
Depreciation & Amortization	$943M
Stock-Based Compensation	$765M
Deferred Income Tax	-$483M
Other Non-Cash Items	$12.3B
Change in Working Capital	-$10.0B
OPERATING CASH FLOW	$20.8B
Capital Expenditure	-$1.1B
Acquisitions (Net)	$0
Purchases of Investments	-$4.5B
Sales/Maturities of Investments	$3.6B
Other Investing Activities	-$25M
NET CASH FROM INVESTING	-$2.0B
Net Debt Issuance	-$2.3B
Common Stock Repurchased	-$12.1B
Common Dividends Paid	-$3.8B
Other Financing Activities	$70M
NET CASH FROM FINANCING	-$17.8B
FREE CASH FLOW	$19.7B
Net Change in Cash	$1.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$16.3B
Short-Term Investments	$3.8B
Net Receivables	$4.5B
Inventory	$0
Other Current Assets	$8.9B
TOTAL CURRENT ASSETS	$33.5B
PP&E (Net)	$3.4B
Goodwill	$18.0B
Intangible Assets	$26.1B
Long-Term Investments	$1.9B
Tax Assets	$126M
Other Non-Current Assets	$7.4B
TOTAL NON-CURRENT ASSETS	$57.0B
TOTAL ASSETS	$90.5B
Account Payables	$375M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$19.6B
TOTAL CURRENT LIABILITIES	$23.1B
Long-Term Debt	$20.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$5.1B
Other Non-Current Liabilities	$3.1B
TOTAL NON-CURRENT LIABILITIES	$28.7B
TOTAL LIABILITIES	$51.8B
Common Stock	$0
Additional Paid-In Capital	$20.5B
Retained Earnings	$18.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.3B
Other Equity	-$140M
TOTAL STOCKHOLDERS' EQUITY	$38.7B
Minority Interest	$0
TOTAL EQUITY	$38.7B
TOTAL LIABILITIES & EQUITY	$90.5B
Total Debt	$20.5B
Net Debt	$4.2B