VISA INC.

V 10-Q · Q1 2026

V Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 10,901 9,510 +14.6%
Show Product Lines breakouts
Client incentives -4,269 -3,797 -12.4%
Data processing revenue 5,544 4,745 +16.8%
International transaction revenue 3,652 3,442 +6.1%
Service 4,760 4,208 +13.1%
Service Other 1,214 912 +33.1%
Value-Added Services 3.2 2.4 +33.3%
Show Geography breakouts
Non Us 6,738 5,772 +16.7%
US 4,163 3,738 +11.4%
Labor And Related Expense 1,764 1,813 -2.7%
Marketing And Advertising Expense 410 306 +34.0%
Communications And Information Technology 233 207 +12.6%
Professional Fees 208 143 +45.5%
Depreciation And Amortization 326 282 +15.6%
General & Administrative 515 481 +7.1%
Loss Contingency Loss In Period 708 44 +1509.1%
Total Costs & Expenses 4,164 3,276 +27.1%
Operating Income 6,737 6,234 +8.1%
Interest Expense -194 -182 -6.6%
Other Non-Operating Income (Expense) 183 148 +23.6%
Non-Operating Income (Expense) -11 -34 +67.6%
Income Before Taxes 6,726 6,200 +8.5%
Income Tax Expense (Benefit) 873 1,081 -19.2%
Net Income 5,853 5,119 +14.3%
Show Equity Components breakouts
Retained Earnings 5,853 5,119 +14.3%
EPS (Basic) (Q)
Show Statement Class Of Stock breakouts
Class B-1 common stock 4.71 4.04 +16.6%
Class B-2 common stock 4.61 3.99 +15.5%
Common Class A 3.03 2.58 +17.4%
Common Class C 12.13 10.33 +17.4%
Wtd Avg Shares (Basic) (Q)
Show Statement Class Of Stock breakouts
Class B-1 common stock 5 5 0.0%
Class B-2 common stock 120 120 0.0%
Common Class A 1,687 1,729 -2.4%
Common Class C 9 10 -10.0%
EPS (Diluted) (Q)
Show Statement Class Of Stock breakouts
Class B-1 common stock 4.71 4.04 +16.6%
Class B-2 common stock 4.61 3.98 +15.8%
Common Class A 3.03 2.58 +17.4%
Common Class C 12.11 10.32 +17.3%
Wtd Avg Shares (Diluted) (Q)
Show Statement Class Of Stock breakouts
Class B-1 common stock 5 5 0.0%
Class B-2 common stock 120 120 0.0%
Common Class A 1,933 1,985 -2.6%
Common Class C 9 10 -10.0%
Net Income 5,853 5,119 +14.3%
Show Statement Class Of Stock breakouts
Class B-1 common stock 23 20 +15.0%
Class B-2 common stock 555 480 +15.6%
Common Class A 5,117 4,466 +14.6%
Common Class C 108 98 +10.2%
Participating securities 50 55 -9.1%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 14,756 12,367 +19.3%
Accounts Receivable 3,231 2,590 +24.7%
Client Incentives Assets Current 2,280 1,992 +14.5%
Prepaid Expenses & Other Current Assets 2,865 3,393 -15.6%
Total Current Assets 34,997 32,622 +7.3%
Non-Current Assets
Long Term Investments 484 1,757 -72.5%
Client Incentives Assets Noncurrent 5,541 4,631 +19.7%
Property, Plant & Equipment 4,276 3,974 +7.6%
Goodwill 19,885
Other Non-Current Assets 3,967 3,467 +14.4%
Total Assets 96,814 91,888 +5.4%
Other Assets
Restricted Cash And Cash Equivalents U. S. Litigation Escrow 3,300 3,112 +6.0%
Investments 1,641 1,967 -16.6%
Settlement Receivable 3,212 3,683 -12.8%
Customer Collateral Assets 3,712 3,518 +5.5%
Intangible Assets Net Excluding Goodwill 27,664 25,889 +6.9%
Current Liabilities
Accounts Payable 433 405 +6.9%
Employee Related Liabilities Current 1,158 1,226 -5.5%
Client Incentives Liabilities Current 11,280 9,249 +22.0%
Accrued Liabilities 5,576 4,690 +18.9%
Show Statement Class Of Stock breakouts
Common Class A 40 70 -42.9%
Current Portion of Long-Term Debt 1,589 3,929 -59.6%
Litigation Reserve Current 3,406 1,649 +106.5%
Total Current Liabilities 31,491 29,091 +8.2%
Non-Current Liabilities
Long-Term Debt 19,588 16,680 +17.4%
Deferred Tax Liabilities 5,241 5,192 +0.9%
Other Non-Current Liabilities 1,717 2,629 -34.7%
Total Liabilities 58,037 53,592 +8.3%
Long-Term Debt (Q)
Show Long-Term Debt Type breakouts
Senior Notes 21.2
Other Liabilities
Settlement Payable 4,337 4,425 -2.0%
Customer Collateral Liabilities 3,712 3,518 +5.5%
Stockholders' Equity
Preferred Stock Value Outstanding 551 904 -39.0%
Show Statement Class Of Stock breakouts
Series A Preferred Stock 428 421 +1.7%
Series B Preferred Stock 7 99 -92.9%
Series C Preferred Stock 116 384 -69.8%
Right To Recover For Covered Losses -19 -123 +84.6%
Additional Paid-In Capital 21,980 21,324 +3.1%
Retained Earnings 16,018 17,438 -8.1%
Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax 10 12 -16.7%
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax -30 -15 -100.0%
Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax -245 -105 -133.3%
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax 512 -1,139 +145.0%
Accumulated Other Comprehensive Income 247 -1,247 +119.8%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 38,777 38,296 +1.3%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 247 -1,247 +119.8%
Common Stock Including Additional Paid In Capital 21,980 21,324 +3.1%
Preferred Stock 551 904 -39.0%
Preferred Stock · Series B Preferred Stock 7 99 -92.9%
Preferred Stock · Series C Preferred Stock 116 384 -69.8%
Retained Earnings 16,018 17,438 -8.1%
Right to Recover for Covered Losses -19 -123 +84.6%
Total Liabilities & Equity 96,814 91,888 +5.4%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Amortization Of Client Incentives 4,269 3,797 +12.4%
Stock-Based Compensation 231 224 +3.1%
Deferred Income Taxes -435 38 -1244.7%
V E Territory Covered Losses Incurred Post Acquisition -3 -27 +88.9%
Income Loss From Equity Method Investments And Fair Market Value Alternative Investments 7 75 -90.7%
Other Non-Cash Items 18 56 -67.9%
Increase Decrease In Settlement Receivable 981 657 +49.3%
Change in Accounts Receivable -109 -64 -70.3%
Increase Decrease In Client Incentives -3,808 -3,649 -4.4%
Increase Decrease In Other Operating Assets 35 -10 +450.0%
Change in Accounts Payable -114 -54 -111.1%
Increase Decrease In Settlement Payable -233 -673 +65.4%
Increase Decrease In Accrued Liabilities And Other Operating Liabilities -611 -303 -101.7%
Increase Decrease In Accrued Litigation 373 -72 +618.1%
Net Cash from Operations 6,780 5,396 +25.6%
Investing Activities
Payments To Acquire Productive Assets -378 -345 -9.6%
Proceeds From Sale And Maturity Of Available For Sale Securities 725 2,042 -64.5%
Payments To Acquire Other Investments -5 -6 +16.7%
Other Investing Activities 19 5 +280.0%
Net Cash from Investing 361 790 -54.3%
Financing Activities
Share Repurchases -3,725 -4,011 +7.1%
Repayments Of Long Term Debt -4,000
Payments Of Dividends -1,293 -1,170 -10.5%
Proceeds From Stock Options Exercised 78 127 -38.6%
Tax Withholding for Share Compensation -231 -235 +1.7%
Proceeds From Payments For Other Financing Activities 185 -186 +199.5%
Net Cash from Financing -8,986 -5,475 -64.1%
Supplemental
Income Taxes Paid 1,290 1,194 +8.0%
Interest Paid 213 213 0.0%
Unpaid Capital Expenditures 26 40 -35.0%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 34 -508 +106.7%
Net Change in Cash -1,811 203 -992.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 23,176 19,966 +16.1%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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