V
VISA INC.
Technology • CIK: 0001403161
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Market Cap
$583.29B
P/E (TTM)
26.2x
Rev Growth (TTM)
+14.4%
Net Margin (TTM)
51.7%
FCF Yield (TTM)
3.6%
FCF Margin (TTM)
49.2%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$21.2B
Q2 '26
$2.6B-59%
Q1 '26
$6.4B+9%
FCF Margin
TTM49.2%
Q2 '2623.4%-60%
Sector: 8.6%Top 10%
OCF Margin52.9%
OCF/NI1.02x
CapEx Coverage14.5x
FCF Yield3.6%
FCF Growth (2Y)+5%
Cash Conversion Cycle
26 days
DSO: 26+DIO: –−DPO: –
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM4.3%
Div Yield0.6%
+Buyback (TTM)3.7%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)0.6%
FCF Payout Ratio17.6%
Free Cash Flow (TTM)$21.2B
Stock Repurchases (TTM)$21.3B
Capital Return / FCF123.7%
Est. Dividends Paid (TTM)$3.7B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
40.1%
Stable
+0.0% YoY+8.3%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
51.4%
8Q: 53.9%
Asset Turnover
0.44x
8Q: 0.42x
Leverage (1+D/E)
–
Asset & CapEx Efficiency
Fixed Asset Turn
10.09x
8Q:9.94x
+36.9%
Invested Cap Turn
0.78x
8Q:0.74x
+18.5%
CapEx Intensity
2.8%
8Q:2.7%
CapEx/Depreciation
1.22x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $43.0B | $11.2B↑3.0% | $10.9B↑1.7% | $10.7B↑5.4% | $10.2B↑6.0% | $9.6B↑0.9% | $9.5B↓1.1% | $9.6B↑8.1% | $8.9B |
Operating Income | $26.3B | $7.2B↑7.4% | $6.7B↑9.6% | $6.1B↓0.5% | $6.2B↑13.7% | $5.4B↓12.8% | $6.2B↓1.8% | $6.3B↑6.9% | $5.9B |
Net Income | $22.2B | $6.0B↑2.9% | $5.9B↑15.0% | $5.1B↓3.5% | $5.3B↑15.2% | $4.6B↓10.6% | $5.1B↓3.7% | $5.3B↑9.2% | $4.9B |
Operating Cash Flow | $22.8B | $3.0B↓55.6% | $6.8B↑8.7% | $6.2B↓7.3% | $6.7B↑43.3% | $4.7B↓13.0% | $5.4B↓19.0% | $6.7B↑29.8% | $5.1B |
Free Cash Flow | $21.2B | $2.6B↓59.0% | $6.4B↑9.5% | $5.8B↓7.3% | $6.3B↑44.4% | $4.4B↓13.5% | $5.1B↓20.5% | $6.4B↑34.2% | $4.7B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
26.2x
Volatile
8Q: 118.7x-211%
Valuation Lenses
Earnings
26.2x
vs – sector
Cash Flow
27.6x
EV/FCF vs –
Growth-Adj
1.7xPEG
Fair for growth
Quality-Adj
0.7P/E per %ROIC
ROIC: 40.1%
Shareholder Returns
Dividend
0.6%
Buyback
3.7%
Total Yield
4.3%
Market Cap$583.29B
EV$583.87B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
95/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)Top 25%
40.1%
8Q:–
+8.3%
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 51.4%
Asset Turnover: 0.44x
Earnings Quality
Cash Conversion
1.02x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover0.78x
Working Capital
Cash Conversion Cycle26 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
67/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
14.4%
OpInc Growth YoY
33.1%
EPS Growth YoY
15.2%
FCF 3Y CAGR
5.3%
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
—
Operating
61.1%
Top 25% in sector
Net
51.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-2.4 pts
FCF: 49.2% | Net: 51.7%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Net Debt / EBITDA
–Net Debt: $5.27B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
–x
Balance sheet risk & solvency analysis