Visa Inc. V

FinancialsProfessional & Commercial ServicesUnited States of America

Last close 413.59 USD on Nov 1, 2026, +18.6% year to date

Quant rating

Quant rating A+ Rank 1 of 799 in Financials

Growth A 95 of 799
Valuation B 517 of 799
Quality A 56 of 799
Revisions B 152 of 799
Momentum A 90 of 799

Wall Street consensus Buy (1.86)Average target 439.84 USD +6.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 768.7B
Enterprise value: 777.2B
52-week range: 293.90 – 417.00
3-year range: 238.58 – 417.00
Dividend yield: 0.75%
Beta (5 years): 0.82
Shares outstanding: 1,859M
Next earnings: Jan 29, 2027

About the company

Visa Inc. is a global payments technology company. It facilitates global commerce and money movement across more than 200 countries and territories among a global set of consumers, merchants, financial institutions and government entities through technologies. It operates through the Payment Services segment. It provides transaction processing services (primarily authorization, clearing and settlement) to its financial institution and merchant clients through VisaNet, its proprietary advanced transaction processing network. It offers a range of Visa-branded payment products that its clients, including nearly 14,500 financial institutions, use to develop and offer payment solutions or services, including credit, debit, prepaid and cash access programs for individual, business and government account holders. It also provides value-added services to its clients, including issuing solutions, acceptance solutions, risk and identity solutions, open banking solutions and advisory services.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	40,000	35,926	32,653	29,310	24,105	–
Revenue growth	11.3%	10.0%	11.4%	21.6%	10.3%	12.9%
EPS (basic, normalized)	11.47	10.05	8.77	7.50	5.91	–
EPS growth	14.1%	14.6%	16.9%	26.9%	–	–
Gross margin	80.4%	80.4%	79.9%	80.5%	79.4%	80.1%
Net margin	49.6%	54.2%	52.0%	49.9%	49.8%	51.1%
ROE	52.1%	50.7%	46.5%	40.9%	33.4%	44.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	14,083
Current ratio	0.97x
Long-term debt (mil)	19,355
Net debt (mil)	8,495
Total equity (mil)	36,111
Net debt / equity	0.24x
Net debt / EBITDA	0.26x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	40,000	+11.3%	19.4x	32,158	+14.8%	24.2x	13.27	+15.7%	31.2x
2027	51,056	+27.6%	15.2x	36,004	+12.0%	21.6x	15.04	+13.4%	27.5x
2028	57,580	+12.8%	13.5x	40,056	+11.3%	19.4x	17.14	+13.9%	24.1x
2029	63,002	+9.4%	12.3x	44,644	+11.5%	17.4x	19.49	+13.7%	21.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	51,056	+0.5%	+0.5%	+1.7%	15.04	+0.1%	+0.2%	+1.4%
2028	57,580	+2.6%	+2.5%	+4.1%	17.14	+0.5%	+0.7%	+2.2%
2029	63,002	−0.5%	−0.6%	+3.2%	19.49	−2.4%	−2.4%	−0.4%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	8,775	8,900	9,617	9,510	9,594	10,172	10,724	10,901	11,230	11,633
Sales mean (mil)	8,627	8,918	9,493	9,341	9,550	9,842	10,614	10,692	10,743	11,396
Surprise	+1.7%	−0.2%	+1.3%	+1.8%	+0.5%	+3.4%	+1.0%	+2.0%	+4.5%	+2.1%
EPS reported	2.51	2.42	2.71	2.75	2.76	2.98	2.98	3.17	3.31	3.32
EPS mean	2.44	2.42	2.58	2.66	2.68	2.85	2.97	3.14	3.10	3.23
Surprise	+3.0%	+0.1%	+5.0%	+3.4%	+2.9%	+4.7%	+0.5%	+1.0%	+6.9%	+2.9%

Peer comparison Professional & Commercial Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
V Visa Inc.	768.7B	0.26x	49.6%	20.24x	27.5x	24.1x	21.6x	19.4x
SPGI S&P Global Inc.	135.3B	2.06x	29.2%	6.86x	26.1x	23.2x	18.9x	17.8x
ADP Automatic Data Processing Inc	116.2B	0.26x	20.1%	22.83x	23.8x	21.7x	16.9x	15.7x
MCO Moody's Corporation	85.2B	1.38x	31.9%	26.06x	29.5x	26.5x	20.6x	19.1x
PYPL PayPal Holdings, Inc.	47.4B	0.44x	15.8%	2.45x	10.2x	9.7x	6.9x	7.4x
XYZ Block, Inc.	45.8B	−0.17x	5.4%	2.08x	18.9x	14.6x	9.7x	7.9x
Mean		0.71x	25.3%	13.42x	22.7x	20.0x	15.8x	14.5x
Median		0.35x	24.6%	13.55x	24.9x	22.4x	17.9x	16.7x

Technical analysis

1M+12.5%
3M+13.0%
1Y+20.2%
3Y+84.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Visa Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	40,000	35,926	32,653	29,310	24,105	21,846
Cost of revenue	7,855	7,042	6,567	5,708	4,970	4,512
Gross profit	32,145	28,884	26,086	23,602	19,135	17,334
Selling, general & administrative expenses	4,369	3,793	3,216	3,000	2,524	2,475
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,220	1,034	943	861	804	767
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	2,562	462	927	928	3.0	11.0
Other operating expenses	0	0	0	0	0	0
Operating income	23,994	23,595	21,000	18,813	15,804	14,081
Net interest income (expense)	200	307	19.0	−765	218	−316
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	14.0	18.0	88.0	41.0	25.0
Net income before taxes	24,194	23,916	21,037	18,136	16,063	13,790
Provision for taxes	4,136	4,173	3,764	3,179	3,752	2,924
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	20,058	19,743	17,273	14,957	12,311	10,866
Extraordinary items	–	–	–	–	–	–
Net income	20,058	19,743	17,273	14,957	12,311	10,866
EBIT, normalized	26,905	24,161	22,017	19,810	15,828	14,109
EBITDA, normalized	28,301	25,373	23,136	20,671	16,632	14,876
Basic EPS, normalized	11.47	10.05	8.77	7.50	5.91	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Visa Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	18,997	15,175	20,128	18,522	18,512	20,041
Receivables	7,317	7,015	4,474	3,952	3,726	2,882
Total inventory	–	–	–	–	–	–
Prepaid expenses	1,471	2,137	1,649	1,771	698	626
Other current assets	9,981	9,706	7,281	5,960	4,671	4,096
Total current assets	37,766	34,033	33,532	30,205	27,607	27,645
Property, plant & equipment	5,190	4,697	3,913	3,703	3,230	2,737
Goodwill	19,879	18,941	17,997	17,787	15,958	15,910
Intangibles	27,646	26,889	26,104	25,065	27,664	27,808
Long-term investments	999	2,545	1,921	2,136	1,705	231
Note receivable	–	–	–	–	–	–
Other long-term assets	8,147	7,406	7,032	6,605	6,732	6,588
Total assets	99,627	94,511	90,499	85,501	82,896	80,919
Liabilities
Accounts payable	555	479	375	340	266	174
Payable/accrued	–	–	–	–	–	–
Accrued expenses	10,362	8,174	8,272	6,541	4,528	3,575
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	5,569	–	0	2,250	999	2,999
Other current liabilities	18,562	17,864	14,451	11,722	9,946	7,762
Total current liabilities	35,048	26,517	23,098	20,853	15,739	14,510
Long-term debt	19,602	20,836	20,463	20,200	19,978	21,071
Minority interest	–	–	–	–	–	–
Other liabilities	7,068	8,021	8,205	8,867	9,590	9,128
Total liabilities	61,718	55,374	51,766	49,920	45,307	44,709
Shareholders' equity
Preferred stock	745	1,031	1,698	2,324	3,080	5,086
Common stock	0.2	0.2	0.2	0.2	0.2	0.2
Additional paid-in capital	21,934	21,229	20,452	19,545	18,855	16,721
Retained earnings (accumulated deficit)	15,106	17,289	18,040	16,116	15,351	14,088
Treasury stock	–	–	–	–	–	–
Other equity	124	−412	−1,457	−2,404	303	315
Total equity	37,909	39,137	38,733	35,581	37,589	36,210
Total liabilities & shareholders' equity	99,627	94,511	90,499	85,501	82,896	80,919

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Visa Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	20,058	19,743	17,273	14,957	12,311	10,866
Depreciation, depletion & amortization	1,220	1,034	943	861	804	767
Deferred taxes	152	−100	−483	−336	873	307
Non-cash items	16,801	14,705	13,044	11,024	7,941	6,898
Changes in working capital	−15,172	−15,432	−10,022	−7,657	−6,702	−8,398
Cash from operations	23,059	19,950	20,755	18,849	15,227	10,440
Investing activities
Capital expenditures	−1,482	−1,257	−1,059	−970	−705	−736
Other investing cash flows	2,190	−669	−947	−3,318	553	2,163
Cash from investing	708	−1,926	−2,006	−4,288	−152	1,427
Financing activities
Financing cash flow items	−333	−38.0	70.0	−318	−144	−592
Cash dividends paid	−4,634	−4,217	−3,751	−3,203	−2,798	−2,664
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−13,996	−16,378	−14,091	−9,175	−11,468	−712
Cash from financing	−18,963	−20,633	−17,772	−12,696	−14,410	−3,968
Foreign exchange effects	420	382	636	−1,287	−37.0	440
Net change in cash	5,224	−2,227	1,613	578	628	8,339
Free cash flow	21,577	18,693	19,696	17,879	14,522	9,704

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.