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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
Revenue	40,000	35,926	32,653	29,310	24,105	21,846	22,977	20,609	18,358	15,082	13,880	12,702
Net income	20,058	19,743	17,273	14,957	12,311	10,866	12,080	10,301	6,699	5,991	6,328	5,438
Operating cash flow	23,059	19,950	20,755	18,849	15,227	10,440	12,784	12,941	9,317	5,574	6,584	7,205
Capital expenditures	1,482	1,257	1,059	970	705	736	756	718	707	523	414	553
Free cash flow	21,577	18,693	19,696	17,879	14,522	9,704	12,028	12,223	8,610	5,051	6,170	6,652
Cash & equivalents	17,164	11,975	16,286	15,689	16,487	16,289	7,838	8,162	9,874	5,619	3,518	1,971
Total assets	99,627	94,511	90,499	85,501	82,896	80,919	72,574	69,225	67,977	64,035	39,367	38,569
Total liabilities	61,718	55,374	51,766	49,920	45,307	44,709	37,890	35,219	35,217	31,123	9,525	11,156
Shareholders' equity	37,909	39,137	38,733	35,581	37,589	36,210	34,684	34,006	32,760	32,912	29,842	27,413

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. See methodology.