VISA INC.

V · CIK 0001403161

19 fiscal years · 68 SEC filings · every number carries its receipt

Revenue (FY)

$40.00B11.3%

FY2025

Net income (FY)

$20.06B1.6%

FY2025

Free cash flow (FY)

$21.58B15.4%

FY2025

The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

revenue 11.1× since FY2007 · net margin -30.0% → 50.1%

MarginsNet marginFCF margin

FY2025: net 50.1% · free cash flow 53.9% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $23.06B operating cash − $1.48B capex = $21.58B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 4% (FY2008) → 53% (FY2025) · on assets 20.1%

Balance sheetLiabilitiesEquity

FY2025: $99.63B assets · $61.72B liabilities · $37.91B equity

The receipts

Financial statements

Annual Quarterly (as reported)

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millions	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Revenue	11,230	10,901	10,172	9,594	9,510	8,900	8,775	8,634	8,123	7,985	7,936	7,275
Net income	6,021	5,853	5,272	4,577	5,119	4,872	4,663	4,890	4,156	4,257	4,179	3,411
Operating cash flow	—	6,780	—	—	5,396	—	—	3,614	—	—	4,171	—
Capital expenditures	—	378	—	—	345	—	—	267	—	—	249	—
Free cash flow	—	6,402	—	—	5,051	—	—	3,347	—	—	3,922	—
Cash & equivalents	12,404	14,756	17,092	11,734	12,367	12,947	12,993	13,591	15,590	13,842	13,334	14,047
Total assets	95,049	96,814	100,024	92,853	91,888	91,040	92,399	91,409	89,234	86,755	85,387	85,410
Total liabilities	59,388	58,037	61,360	54,823	53,592	51,311	51,914	51,676	50,253	48,190	48,463	49,927
Shareholders' equity	35,661	38,777	38,664	38,030	38,296	39,729	40,485	39,733	38,981	38,565	36,924	35,483

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.