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NEW YORK STOCK EXCHANGE, INC. · Financial Services · CIK 0001403161
$414.34
+1.59% · live
Updated
$773.59B market value
From VISA INC.'s FY2025 10-K, filed Nov 6, 2025 · read the filing
VISA provides business support services. It took in $40.00B last year, which makes it a large company. Of every dollar it sells, about 50 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by Taneja Rajat, not under a pre-arranged plan.
$6.7M sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Strong finances across the board.
From VISA INC.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Cash
$11.97B → $17.16B
Operating margin
65.7% → 60.0%
Profit margin
55.0% → 50.1%
Free cash flow
$18.69B → $21.58B
Measured against FY2024, from the 10-K filed Nov 6, 2025
Improved: +43.3%
$11.97B to $17.16BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
How the latest move compares (quote live), and what was published around it
V rose 1.59% on the latest quote. The S&P 500 moved −1.04%. That is 2.6 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 14% a year for the next 10 years. Over the last 10 years it grew by about 13% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 50 cents of every dollar of sales as profit, earning $20.06B last year.
Slowly. Sales grew 11.3% last year.
No. Its borrowings would take under a year of cash flow to clear. For every $1 it owes, it owns $1.61 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 23 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 20% of the cash its operations generated. It has paid in each of the last 12 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $20.06B and generated $23.06B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Nov 6, 2025Filing for FY2025 | FY202410-K · Nov 13, 2024Filing for FY2024 | FY202310-K · Nov 13, 2024Filing for FY2023 | FY202210-K · Nov 13, 2024Filing for FY2022 | FY202110-K · Nov 18, 2021Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $40.00B | $35.93B | $32.65B | $29.31B | $24.11B | +11.3% |
| Selling, general and administrative | $1.93B | $1.60B | $1.33B | $1.19B | $985.0M | +20.5% |
| Operating income | $23.99B | $23.59B | $21.00B | $18.81B | $15.80B | +1.7% |
| Operating marginOperating income ÷ revenueWhat is this? | 60.0% | 65.7% | 64.3% | 64.2% | 65.6% | −5.7 pts |
| Interest expense | $589.0M | $641.0M | $644.0M | $538.0M | — | −8.1% |
| Income before tax | $24.19B | $23.92B | $21.04B | $18.14B | $16.06B | +1.2% |
| Net income | $20.06B | $19.74B | $17.27B | $14.96B | $12.31B | +1.6% |
| Net marginNet income ÷ revenueWhat is this? | 50.1% | 55.0% | 52.9% | 51.0% | 51.1% | −4.8 pts |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| VVISA INC. · this page | 8.7/10 | 6/7 | 11.3% |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 5,875 shares at $134.76 ($791.7K)
Holds 21,049 shares after this filing.
Sold on the open market — 5,875 shares at $358.81 ($2.1M)
Holds 15,174 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Reported another event
Read the filingQuarterly report on Form 10-Q
Read the filingWrite down why you are following VISA INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 4 subsidiaries named in its 10-K, incorporated across 3 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Source: Exhibit 21 of the 10-K filed 2025-11-06. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from V's 10-K for fiscal year 2025 (period ending 2025-09-30, filed Nov 6, 2025), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 7 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.7 | 6/7 | 10-K, filed Nov 6, 2025 |
| FY2024 | 8.7 | 6/7 | 10-K, filed Nov 13, 2024 |
| FY2023 | 8.7 | 7/7 | 10-K, filed Nov 15, 2023 |
| FY2022 | 10.0 | 6/7 | 10-K, filed Nov 16, 2022 |
| FY2021 | 8.7 | 6/7 | 10-K, filed Nov 18, 2021 |
| FY2020 | 7.3 | 3/7 | 10-K, filed Nov 19, 2020 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 7 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 2 could not be evaluated and are excluded from the total rather than counted as failures.
2.94
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −5.7 pts
65.7% to 60.0%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −4.8 pts
55.0% to 50.1%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +15.4%
$18.69B to $21.58BSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Changed: +17.9%
$1.26B to $1.48BSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +11.3%
$35.93B to $40.00BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: -5.9%
$20.84B to $19.60BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Changed: +9.9%
$4.22B to $4.63BNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Apr 29, 2026 — read it.
Improved: +17.1%
$9.59B to $11.23BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +33.1%
$5.43B to $7.23BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +31.5%
$4.58B to $6.02BSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +7.8 pts
56.6% to 64.4%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +5.9 pts
47.7% to 53.6%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +33.3%
$16.81B to $22.42BSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +5.7%
$11.73B to $12.40BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Apr 29, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: -15.9%
$14.76B to $12.40BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +7.4%
$6.74B to $7.23BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +2.6 pts
61.8% to 64.4%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: +14.4%
$19.59B to $22.42BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
2 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 11% and 16%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 49 analysts covering this company, as of . Their views, not this site's.
Of 49 analysts publishing on this company, 12 say strong buy, 32 say buy and 5 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 1.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 35.6x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 50.1% |
| 38.57x |
| 1.63x |
| MAMastercard Inc | 10.0/10 | 8/8 | 16.4% | 45.6% | 38.29x | 6.00x |
|---|
| PYPLPayPal Holdings, Inc. | 8.7/10 | 8/8 | 4.3% | 15.8% | 10.12x | 2.96x |
|---|
| XYZBlock, Inc. | 7.3/10 | 5/8 | 0.3% | 5.4% | 37.05x | 0.78x |
|---|
| FISVFISERV INC | 7.3/10 | 5/8 | 3.6% | 16.4% | 8.20x | 2.11x |
|---|
| AFRMAffirm Holdings, Inc. | 7.3/10 | 4/7 | 29.6% | 133.6% | 12.57x | 1.88x |
|---|
| GPNGLOBAL PAYMENTS INC | 7.0/10 | 5/9 | -0.4% | 18.2% | 14.52x | 1.29x |
|---|
| FISFidelity National Information Services, Inc. | 4.7/10 | 6/9 | 5.4% | 3.6% | 53.09x | 1.41x |
|---|
| Median of peers | 7.3/10 | — | 4.3% | 16.4% | 14.52x | 1.88x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Exercised stock options — 1,867 shares at $134.76 ($251.6K)
Holds 20,271 shares after this filing.
Sold on the open market — 1,867 shares at $368.34 ($687.7K)
Holds 18,404 shares after this filing.
Exercised stock options — 5,875 shares at $134.76 ($791.7K)
Holds 21,049 shares after this filing.
Sold on the open market — 5,875 shares at $379.65 ($2.2M)
Holds 15,174 shares after this filing.
Exercised stock options — 2,028 shares at $109.82 ($222.7K)
Holds 20,432 shares after this filing.
Sold on the open market — 2,028 shares at $381.35 ($773.4K)
Holds 18,404 shares after this filing.
Exercised stock options — 5,875 shares at $134.76 ($791.7K)
Holds 21,049 shares after this filing.
Sold on the open market — 5,875 shares at $367.87 ($2.2M)
Holds 15,174 shares after this filing.
Sold on the open market — 17,927 shares at $371.00 ($6.7M)
Holds 232,112 shares after this filing.
Exercised stock options — 15,289 shares
Holds 25,161 shares after this filing.
Had shares withheld to cover taxes — 6,992 shares at $364.15 ($2.5M)
Holds 18,169 shares after this filing.
Exercised stock options — 4,170 shares
Holds 11,952 shares after this filing.
Had shares withheld to cover taxes — 1,714 shares at $364.15 ($624.2K)
Holds 10,238 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 5,875 shares ($2.1M) on or after .
Shares originally obtained via Exercise of employee stock options.
Filed notice to sell 1,867 shares ($687.7K) on or after .
Shares originally obtained via Exercise of employee stock options.
Filed notice to sell 5,875 shares ($2.2M) on or after .
Shares originally obtained via Exercise of employee stock options.
Filed notice to sell 2,028 shares ($773.4K) on or after .
Shares originally obtained via Exercise of employee stock options.
Filed notice to sell 5,875 shares ($2.2M) on or after .
Shares originally obtained via Exercise of employee stock options.
Filed notice to sell 17,927 shares ($6.7M) on or after .
Shares originally obtained via Vesting of performance share unit awards.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results · Reported another event
Amended its charter or changed its financial year
Read the filingReported another event
Read the filingSigned a material agreement · Reported another event
Read the filingMade a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Revenue +17.1% · Operating margin +7.8 pts · Operating income +33.1% — against Q2 FY2025
Read the filingPublished results · Reported another event
Read the filingReported another event
Read the filingMade a Regulation FD disclosure
Read the filingReported another event
Read the filingQuarterly report for Q1 FY2026
Revenue +14.6% · Operating margin −3.8 pts · Free cash flow +26.7% — against Q1 FY2025
Read the filingPublished results · Reported another event
Read the filingAmended its charter or changed its financial year · Held a shareholder vote
Read the filingReported another event
Read the filingReported another event
Read the filingProxy statement for a shareholder meeting
Read the filingReported another event
Read the filingAnnual report for FY2025
Revenue +11.3% · Operating margin −5.7 pts · Cash +43.3% — against FY2024
Read the filingCoverage from the last 30 days
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