VISA INC.
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V Q4 2025 request
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| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 10,724 | 9,617 | +11.5% |
Show Product Lines breakouts |
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| Client incentives | -4,248 | -3,629 | -17.1% |
| Data processing revenue | 5,394 | 4,610 | +17.0% |
| International transaction revenue | 3,800 | 3,468 | +9.6% |
| Service | 4,602 | 4,199 | +9.6% |
| Service Other | 1,176 | 969 | +21.4% |
| Value-Added Services | 3.1 | 2.4 | +29.2% |
Show Geography breakouts |
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| Non Us | 6,567 | 5,746 | +14.3% |
| US | 4,157 | 3,871 | +7.4% |
| Labor And Related Expense | 1,742 | 1,609 | +8.3% |
| Marketing And Advertising Expense | 576 | 551 | +4.5% |
| Communications And Information Technology | 239 | 208 | +14.9% |
| Professional Fees | 256 | 192 | +33.3% |
| Depreciation And Amortization | 316 | 274 | +15.3% |
| General & Administrative | 544 | 424 | +28.3% |
| Loss Contingency Loss In Period | 903 | 10 | +8930.0% |
| Total Costs & Expenses | 4,576 | 3,268 | +40.0% |
| Operating Income | 6,148 | 6,349 | -3.2% |
| Interest Expense | -210 | -176 | -19.3% |
| Other Non-Operating Income (Expense) | 285 | 199 | +43.2% |
| Non-Operating Income (Expense) | 75 | 23 | +226.1% |
| Income Before Taxes | 6,223 | 6,372 | -2.3% |
| Income Tax Expense (Benefit) | 1,133 | 1,054 | +7.5% |
| Net Income | 5,090 | 5,318 | -4.3% |
Show Equity Components breakouts |
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| Retained Earnings | 5,090 | 5,318 | -4.3% |
| EPS (Basic) (Q) | — | — | — |
Show Statement Class Of Stock breakouts |
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| Class B-1 common stock | 4.09 | 4.21 | -2.9% |
| Class B-2 common stock | 4.02 | 4.2 | -4.3% |
| Common Class A | 2.62 | 2.65 | -1.1% |
| Common Class C | 10.48 | 10.62 | -1.3% |
| Wtd Avg Shares (Basic) (Q) | — | — | — |
Show Statement Class Of Stock breakouts |
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| Class B-1 common stock | 0 | -48 | +100.0% |
| Class B-2 common stock | 0 | 24 | -100.0% |
| Common Class A | -6 | 30 | -120.0% |
| Common Class C | 0 | 0 | — |
| EPS (Diluted) (Q) | — | — | — |
Show Statement Class Of Stock breakouts |
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| Class B-1 common stock | 4.08 | 4.21 | -3.1% |
| Class B-2 common stock | 4.01 | 4.19 | -4.3% |
| Common Class A | 2.61 | 2.65 | -1.5% |
| Common Class C | 10.47 | 10.61 | -1.3% |
| Wtd Avg Shares (Diluted) (Q) | — | — | — |
Show Statement Class Of Stock breakouts |
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| Class B-1 common stock | 0 | -48 | +100.0% |
| Class B-2 common stock | 0 | 24 | -100.0% |
| Common Class A | -7 | -9 | +22.2% |
| Common Class C | 0 | 0 | — |
| Net Income | 5,090 | 5,318 | -4.3% |
Show Statement Class Of Stock breakouts |
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| Class B-1 common stock | 20 | 83 | -75.9% |
| Class B-2 common stock | 483 | 475 | +1.7% |
| Common Class A | 4,444 | 4,514 | -1.6% |
| Common Class C | 94 | 176 | -46.6% |
| Participating securities | 49 | 70 | -30.0% |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 17,164 | 11,975 | +43.3% |
| Accounts Receivable | 3,126 | 2,561 | +22.1% |
| Client Incentives Assets Current | 2,158 | 1,918 | +12.5% |
| Prepaid Expenses & Other Current Assets | 2,679 | 3,312 | -19.1% |
| Total Current Assets | 37,766 | 34,033 | +11.0% |
| Non-Current Assets | |||
| Long Term Investments | 999 | 2,545 | -60.7% |
| Client Incentives Assets Noncurrent | 5,157 | 4,628 | +11.4% |
| Property, Plant & Equipment | 4,236 | 3,824 | +10.8% |
| Goodwill | 19,879 | 18,941 | +5.0% |
| Other Non-Current Assets | 3,944 | 3,651 | +8.0% |
| Total Assets | 99,627 | 94,511 | +5.4% |
| Operating Lease Right-of-Use Assets | 954 | 873 | +9.3% |
| Intangible Assets | 231 | 248 | -6.9% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Relationships | 231 | 237 | -2.5% |
| Other Assets | |||
| Restricted Cash And Cash Equivalents U. S. Litigation Escrow | 2,990 | 3,089 | -3.2% |
| Investments | 1,833 | 3,200 | -42.7% |
| Settlement Receivable | 4,191 | 4,454 | -5.9% |
| Customer Collateral Assets | 3,625 | 3,524 | +2.9% |
| Intangible Assets Net Excluding Goodwill | 27,646 | 26,889 | +2.8% |
| Current Liabilities | |||
| Accounts Payable | 555 | 479 | +15.9% |
| Employee Related Liabilities Current | 1,863 | 1,538 | +21.1% |
| Client Incentives Liabilities Current | 10,369 | 9,075 | +14.3% |
| Accrued Liabilities | 5,466 | 4,909 | +11.3% |
Show Statement Class Of Stock breakouts |
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| Common Class A | 30 | 90 | -66.7% |
| Current Portion of Long-Term Debt | 5,569 | — | — |
| Litigation Reserve Current | 3,033 | 1,727 | +75.6% |
| Total Current Liabilities | 35,048 | 26,517 | +32.2% |
| Non-Current Liabilities | |||
| Long-Term Debt | 19,602 | 20,836 | -5.9% |
| Deferred Tax Liabilities | 5,549 | 5,301 | +4.7% |
| Other Non-Current Liabilities | 1,519 | 2,720 | -44.2% |
| Total Liabilities | 61,718 | 55,374 | +11.5% |
| Long-Term Debt (Q) | — | — | — |
Show Long-Term Debt Type breakouts |
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| Senior Notes | 25.2 | 20.8 | +21.2% |
| Operating Lease Liabilities | 763 | 685 | +11.4% |
| Accrued Income Taxes Noncurrent | 309 | 1.4 | +21971.4% |
| Other Liabilities | |||
| Settlement Payable | 4,568 | 5,265 | -13.2% |
| Customer Collateral Liabilities | 3,625 | 3,524 | +2.9% |
| Stockholders' Equity | |||
| Preferred Stock Value Outstanding | 745 | 1,031 | -27.7% |
Show Statement Class Of Stock breakouts |
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| Series A Preferred Stock | 513 | 540 | -5.0% |
| Series B Preferred Stock | 67 | 104 | -35.6% |
| Series C Preferred Stock | 165 | 387 | -57.4% |
| Right To Recover For Covered Losses | -124 | -104 | -19.2% |
| Additional Paid-In Capital | 21,934 | 21,229 | +3.3% |
| Retained Earnings | 15,106 | 17,289 | -12.6% |
| Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax | 12 | 30 | -60.0% |
| Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax | -32 | -16 | -100.0% |
| Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax | -307 | -213 | -44.1% |
| Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax | 575 | -109 | +627.5% |
| Accumulated Other Comprehensive Income | 248 | -308 | +180.5% |
Show Derivative Instruments Gain Loss By Hedging Relationship breakouts |
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| Net Investment Hedging | -176 | 182 | -196.7% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 37,909 | 39,137 | -3.1% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 248 | -308 | +180.5% |
| Common Stock Including Additional Paid In Capital | 21,934 | 21,229 | +3.3% |
| Preferred Stock | 745 | 1,031 | -27.7% |
| Preferred Stock · Series B Preferred Stock | 67 | 104 | -35.6% |
| Preferred Stock · Series C Preferred Stock | 165 | 387 | -57.4% |
| Retained Earnings | 15,106 | 17,289 | -12.6% |
| Right to Recover for Covered Losses | -124 | -104 | -19.2% |
| Total Liabilities & Equity | 99,627 | 94,511 | +5.4% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Amortization Of Client Incentives | 4,248 | 3,629 | +17.1% |
| Stock-Based Compensation | 191 | 188 | +1.6% |
| Deferred Income Taxes | -195 | -1 | -19400.0% |
| Income Loss From Equity Method Investments And Fair Market Value Alternative Investments | -46 | 46 | -200.0% |
| Other Non-Cash Items | 24 | 14 | +71.4% |
| Increase Decrease In Settlement Receivable | 585 | -2,267 | +125.8% |
| Change in Accounts Receivable | -208 | -23 | -804.3% |
| Increase Decrease In Client Incentives | -4,061 | -3,750 | -8.3% |
| Increase Decrease In Other Operating Assets | 178 | -26 | +784.6% |
| Change in Accounts Payable | 81 | 136 | -40.4% |
| Increase Decrease In Settlement Payable | -1,466 | 2,606 | -156.3% |
| Increase Decrease In Accrued Liabilities And Other Operating Liabilities | 826 | 540 | +53.0% |
| Increase Decrease In Accrued Litigation | 681 | 38 | +1692.1% |
| Net Cash from Operations | 6,238 | 6,664 | -6.4% |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -389 | -309 | -25.9% |
| Proceeds From Sale And Maturity Of Available For Sale Securities | 556 | 1,147 | -51.5% |
| Payments To Acquire Businesses Net Of Cash Acquired | 0 | 0 | — |
| Payments To Acquire Other Investments | -27 | -212 | +87.3% |
| Other Investing Activities | 164 | -42 | +490.5% |
| Net Cash from Investing | 304 | 584 | -47.9% |
| Financing Activities | |||
| Share Repurchases | -4,927 | -5,848 | +15.7% |
| Payments Of Dividends | -1,146 | -1,041 | -10.1% |
| Proceeds From Stock Options Exercised | 55 | 68 | -19.1% |
| Tax Withholding for Share Compensation | -27 | -19 | -42.1% |
| Proceeds From Payments For Other Financing Activities | 45 | -229 | +119.7% |
| Net Cash from Financing | -6,000 | -7,069 | +15.1% |
| Supplemental | |||
| Income Taxes Paid | 954 | 1,076 | -11.3% |
| Interest Paid | 48 | 49 | -2.0% |
| Unpaid Capital Expenditures | 8 | 22 | -63.6% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 4 | 308 | -98.7% |
| Net Change in Cash | 546 | 487 | +12.1% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 24,987 | 19,763 | +26.4% |
Values in millions USD. Source: SEC EDGAR 10-K filing.