One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Visa Inc.
V · NYQ · Financial Services · Credit Services
Current price
$353.42
52-week range
$293.89 - $365.14
Market cap
—
Balance sheet
Healthy
45.09x Strong cushion
Net debt $10.06B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 7.6% last year.
- Reward Returns 60.3% on equity, ahead of 50% of its peers.
- Risk Net debt grew 57.2% over 3 years.
- Risk Stock trades 8.1% above its 5-year average P/E.
What this company does
Visa Inc.
Visa operates the giant payment network connecting banks and merchants, acting as a secure middleman whenever you use a Visa card. The company makes money by collecting a small fee on each transaction, which leads to very high profit margins (the percentage of each dollar in sales the company keeps as profit) because it doesn't cost much to process one more swipe. This business model is powerful as it benefits from the global shift to digital payments without taking on the risks of lending money like a traditional bank.
How the company got here
Visa began in 1958 as a credit card experiment by Bank of America called BankAmericard. To grow, they licensed the program to other banks, creating a cooperative that eventually became independent. In 1976, the company rebranded to "Visa" because the name is easily recognized in many languages, signifying universal acceptance. It later went public in 2008 in one of the largest stock offerings in history, uniting most of its global businesses into the single company we know today.
What it actually does
Visa doesn't issue credit cards or lend you money; your bank does that. Instead, Visa operates a massive, secure global payments network called VisaNet that connects consumers, businesses, and banks. When you tap, swipe, or click to pay with a Visa card, their network carries the transaction information from the store to your bank for approval in seconds. Think of them as the toll operator for a financial highway, taking a small fee for ensuring the fast and secure movement of money.
Service Revenues
This is a major part of Visa's business, where they earn fees based on the total dollar amount of payments made with Visa-branded cards. Essentially, the more people spend using Visa cards, the more revenue (money the company brings in before expenses) this segment generates. These fees are paid by financial institutions for the services and benefits of being part of the Visa payment system. This segment is a significant contributor to Visa's overall income.
Data Processing Revenues
This is Visa's largest single source of income, earned by charging fees for each transaction that runs through its network. Whether you buy a coffee or a car, Visa charges a small fee to the banks involved for authorizing, clearing, and settling that specific payment. These fees are based on the number of transactions, not the dollar amount, so this segment profits from the sheer volume of people using Visa worldwide.
International Transaction Revenues
Visa makes money when you use your card in a different country or buy something online from an international merchant. These cross-border transactions are more complex and involve converting currencies, so Visa charges additional fees for these services. This part of the business grows as global travel and international e-commerce (online shopping) increase.
Other Revenues
This is a catch-all category for various other services Visa provides. It includes fees that banks pay for licensing the Visa brand, as well as revenue from value-added services like fraud prevention, data analytics, and consulting. For example, a business might pay Visa for detailed spending data to understand customer behavior better. While smaller than other segments, it represents a growing area as Visa offers more services beyond basic transactions.
What management is betting on now
Visa is focused on expanding beyond just consumer cards into new areas, what it calls a "network of networks" strategy. This includes a big push into commercial payments, helping businesses pay each other more efficiently, which is a much larger market than consumer spending. They are also heavily investing in "value-added services," such as advanced fraud detection and data analytics, to become a more essential partner to banks and merchants. Finally, Visa is working to make online and mobile payments even easier and more secure through technologies like tokenization (which hides your real card number) and "Click to Pay."
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$4.73B
FY2024 Q4
$6.36B
FY2025 Q1
$5.05B
FY2025 Q2
$4.37B
FY2025 Q3
$6.31B
FY2025 Q4
$5.85B
FY2026 Q1
$6.40B
FY2026 Q2
$2.62B
Revenue
$11.23B
Net income
$6.02B
Diluted EPS
—
Operating cash flow
$3.01B
Free cash flow
$2.62B
Fetching…
Sources
Revenue
$10.90B
Net income
$5.85B
Diluted EPS
—
Operating cash flow
$6.78B
Free cash flow
$6.40B
Fetching…
Sources
Revenue
$10.72B
Net income
$5.09B
Diluted EPS
—
Operating cash flow
$6.24B
Free cash flow
$5.85B
Fetching…
Sources
Revenue
$10.17B
Net income
$5.27B
Diluted EPS
—
Operating cash flow
$6.73B
Free cash flow
$6.31B
Fetching…
Sources
Revenue
$9.59B
Net income
$4.58B
Diluted EPS
—
Operating cash flow
$4.70B
Free cash flow
$4.37B
Fetching…
Sources
Revenue
$9.51B
Net income
$5.12B
Diluted EPS
—
Operating cash flow
$5.40B
Free cash flow
$5.05B
Fetching…
Sources
Revenue
$9.62B
Net income
$5.32B
Diluted EPS
—
Operating cash flow
$6.66B
Free cash flow
$6.36B
Fetching…
Sources
Revenue
$8.90B
Net income
$4.87B
Diluted EPS
—
Operating cash flow
$5.13B
Free cash flow
$4.73B
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $353.42
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net debt $10.1B. Interest coverage 45.1x.
Net debt
$10.06B
Interest coverage
45.09x
Visa Inc.'s profit covers its interest bill about 45.1 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
V
BASELINE
Visa Inc.
Total debt $23.98B Interest coverage 45.09x This is the baseline the peer rows are being compared against.
Total debt $18.96B Interest coverage 27.03x -40% vs V Carries about 1.7x less debt cushion than V.
Total debt $11.67B Interest coverage 14.50x -68% vs V Carries about 3.1x less debt cushion than V.
What you should know
The case for and against V
3 Rewards
3 Risks
Rewards
-
Revenue grew 7.6% last year.
-
Returns 60.3% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 57.2% over 3 years.
-
Stock trades 8.1% above its 5-year average P/E.
-
Insider ownership is only 0.1% (peer median: 0.7%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
31.06x
Forward P/E
23.77x
P/B
—
P/S
—
EV/EBITDA
22.45x
PEG ratio
1.56x
Profitability
How much profit each dollar creates
Gross margin
97.8%
Operating margin
67.3%
Net margin
51.7%
ROE
60.3%
ROA
19.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.67x
Current ratio
1.09x
Quick ratio
0.67x
Total debt
$23.98B
Total cash
$13.91B
Growth
How the business has been compounding
Revenue TTM
$43.03B
Revenue 5Y CAGR
13.5%
EPS TTM
11.38
EPS 5Y CAGR
13.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$22.76B
Free CF TTM
$21.58B
FCF margin
50.1%
Dividend
Shareholder payout
Yield
0.8%
Payout ratio
22.0%
Last ex-div date
2026-05-12