Visa Inc.V
NYSE•Financial Services•Credit Services
Visa Inc. operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a platform which facilitates money movement, enabling clients to collect, hold, convert, and send funds across its network; and issuing solutions, such as airport lounge access, dining reservations, shopping experiences, event tickets, and seller offers. In addition, the company provides acceptance solutions, an omnichannel payment integration with e-commerce platforms; risk detection and prevention solutions; and advisory and other services comprising consulting practice, proprietary analytics models, data scientists and economists, marketing services, and managed services. It provides its services under the Visa, Visa Electron, V PAY, Interlink, and PLUS brands. The company serves consumers, sellers, financial institutions, and government entities. Visa Inc. was founded in 1958 and is headquartered in San Francisco, California.
Visa Inc. (V) reported trailing twelve months revenue of $43.03B as of March 2026, a 14.4% increase year-over-year. Quarterly revenue reached $11.23B, reflecting continued top-line momentum.
Visa Inc. generated $22.24B in TTM net income, with quarterly EBITDA of $7.57B. The operating margin expanded from 56.6% to 64.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (64.4%) and net margin (53.6%) indicates moderate non-operating costs. Net margin has improved from 47.7% a year ago, signaling stronger bottom-line efficiency.
V trades at a P/E of 24.8x (in line with broad market averages) and a P/S of 12.8x. The price-to-book ratio of 15.4x indicates a significant premium over book value.
The company generated $2.63B in free cash flow over the trailing twelve months, a 39.9% decrease year-over-year, indicating cash generation ability. The balance sheet shows $95.05B in total assets with $22.42B in long-term debt against $35.66B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~62.4% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 53.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~23.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~61.1% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 42.2% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.0% — mild dilution. Compare to earnings growth to assess net per-share impact.