Visa Inc. (V) Financial Statements

Executive TeamFinancials
SegmentsShareholders

Visa financial statements at a glance

Visa reported revenue of $40.00 billion for fiscal year 2025 (ended September 30, 2025), up 11.3% from fiscal year 2024. Net income was $19.85 billion, a net margin of 49.6%, and diluted earnings per share were $10.20.

At the end of fiscal year 2025 it had total assets of $99.63 billion, total liabilities of $61.72 billion and shareholders' equity of $37.91 billion, with cash and short-term investments of $19.00 billion and total debt of $25.17 billion.

Its operations brought in $23.06 billion of cash; capital spending was $1.48 billion, leaving free cash flow of $21.58 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended September 30, 2025.

V logo

Visa Inc.

VUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
40.00B
Prev Year: 35.93B
YoY: +11.3%
Net Interest Income
-589.00M
Prev Year: -641.00M
YoY: +8.1%
Interest Expense
589.00M
Prev Year: 641.00M
YoY: -8.1%
Other Income Expense
-1.77B
Prev Year: 500.00M
YoY: -454.6%
Other Special Charges
2.56B
Prev Year: 462.00M
YoY: +454.5%
Gain on Sale of Securities
789.00M
Prev Year: 962.00M
YoY: -18.0%
Net Non Operating Interest Income Expense
-589.00M
Prev Year: -641.00M
YoY: +8.1%
Non-operating Interest Expense
589.00M
Prev Year: 641.00M
YoY: -8.1%
Operating Income
26.56B
Prev Year: 24.06B
YoY: +10.4%
Operating Expense
5.59B
Prev Year: 4.83B
YoY: +15.8%
Depreciation Amortization Depletion
1.22B
Prev Year: 1.03B
YoY: +18.0%
Depreciation and amortization
1.22B
Prev Year: 1.03B
YoY: +18.0%
Other General and Administrative
2.69B
Prev Year: 2.23B
YoY: +20.2%
Gross Profit
32.15B
Prev Year: 28.88B
YoY: +11.3%
Cost of Revenue
7.86B
Prev Year: 7.04B
YoY: +11.5%
Operating Revenue
51.70B
Prev Year: 46.49B
YoY: +11.2%
Selling General and Administrative
4.37B
Prev Year: 3.79B
YoY: +15.2%
General and Administrative Expense
2.69B
Prev Year: 2.23B
YoY: +20.2%
Selling and Marketing Expense
1.68B
Prev Year: 1.56B
YoY: +7.9%
Special Income Charges
-2.56B
Prev Year: -462.00M
YoY: -454.5%
Pre-tax Income
24.19B
Prev Year: 23.92B
YoY: +1.2%
Provision for Income Taxes
4.14B
Prev Year: 4.17B
YoY: -0.9%
Net Income Common Stockholders
19.85B
Prev Year: 19.74B
YoY: +0.6%
Net Income
20.06B
Prev Year: 19.74B
YoY: +1.6%
Net Income Including Non-Controlling Interests
20.06B
Prev Year: 19.74B
YoY: +1.6%
Net Income from Continuing Operations
20.06B
Prev Year: 19.74B
YoY: +1.6%
Diluted NI Available to Com Stockholders
19.85B
Prev Year: 19.74B
YoY: +0.6%
Net Income from Continuing and Discontinued Operation
20.06B
Prev Year: 19.74B
YoY: +1.6%
Normalized Income
21.53B
Prev Year: 19.33B
YoY: +11.4%
Reconciled Depreciation
1.22B
Prev Year: 1.03B
YoY: +18.0%
Net Income from Continuing Operation Net Minority Interest
20.06B
Prev Year: 19.74B
YoY: +1.6%
Average Dilution Earnings
-
Total Unusual Items Excluding Goodwill
-1.77B
Prev Year: 500.00M
YoY: -454.6%
Total Unusual Items
-1.77B
Prev Year: 500.00M
YoY: -454.6%
Tax Rate for Calcs
0.171
Prev Year: 0
Tax Effect of Unusual Items
-303.10M
Prev Year: 87.00M
YoY: -448.4%
Normalized EBITDA
27.78B
Prev Year: 25.09B
YoY: +10.7%
Reconciled Cost of Revenue
7.86B
Prev Year: 7.04B
YoY: +11.5%
EBITDA
26.00B
Prev Year: 25.59B
YoY: +1.6%
EBIT
24.78B
Prev Year: 24.56B
YoY: +0.9%
Total Expenses
13.44B
Prev Year: 11.87B
YoY: +13.3%
Total Operating Income as Reported
23.99B
Prev Year: 23.59B
YoY: +1.7%
Weighted Average Shares (diluted)
2.19B
Prev Year: 2.03B
YoY: +8.1%
Weighted Average Shares (basic)
1.94B
Prev Year: 1.62B
YoY: +19.8%
Diluted EPS
10.2
Prev Year: 9.73
YoY: +4.8%
Basic EPS
10.22
Prev Year: 9.74
YoY: +4.9%
Otherunder Preferred Stock Dividend
205.00M
Values in USD

Visa key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$40.0B$35.9B$32.7B$29.3B$24.1B
Gross profit$32.1B$28.9B$26.1B$23.6B$19.1B
Operating income$26.6B$24.1B$21.9B$19.7B$15.8B
Net income$19.9B$19.7B$17.3B$15.0B$12.3B
Diluted EPS$10.20$9.73$8.28$7.00$5.63
Total assets$99.6B$94.5B$90.5B$85.5B$82.9B
Total liabilities$61.7B$55.4B$51.8B$49.9B$45.3B
Shareholders' equity$37.9B$39.1B$38.7B$35.6B$37.6B
Cash and short-term investments$19.0B$15.2B$20.1B$18.5B$18.5B
Total debt$25.2B$20.8B$20.5B$22.5B$21.0B
Operating cash flow$23.1B$20.0B$20.8B$18.8B$15.2B
Capital spending$1.5B$1.3B$1.1B$970.0M$705.0M
Free cash flow$21.6B$18.7B$19.7B$17.9B$14.5B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Visa's revenue in fiscal year 2025?

$40.00 billion, up 11.3% from $35.93 billion in fiscal year 2024.

How much profit does Visa make?

Visa reported net income of $19.85 billion for fiscal year 2025 (49.6% of revenue); operating income was $26.56 billion.

How much cash and debt does Visa have?

At the end of fiscal year 2025: cash and short-term investments of $19.00 billion and total debt of $25.17 billion.

What is Visa's free cash flow?

$21.58 billion in fiscal year 2025 (operating cash flow of $23.06 billion minus capital spending of $1.48 billion).

MoreVisa stock overviewVisa executive teamVisa shareholdersVisa revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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