Q2 FY2026, built from SEC filings. Accession numbers are cited throughout so every figure can be checked against sec.gov. The same data is published as JSON at financials.json for agents that prefer to fetch it directly.
payments network (gross revenue by category less client incentives; no cost of revenue line)
Schema rationale
Visa is a payments network, not a manufacturer or lender. Its income statement presents four gross revenue categories, service, data processing, international transaction and other revenue, reduced by client incentives to arrive at net revenue, then a single block of operating expenses. There is no cost of revenue and therefore no gross profit line, so a standard revenue/cost-of-goods/gross-profit template would be misleading. Operating margin is reported instead. Payments volume and processed transactions are included because the filings identify them as the primary drivers of service revenue and data processing revenue respectively.
Reporting currency
USD
Converted to USD
no
Units
actual dollars (not millions); share counts are actual shares; per-share figures are actual dollars per share
Fiscal year end
September 30
Annual
FY2025
FY2024
FY2023
Fiscal year
2025
2024
2023
Period end
2025-09-30
2024-09-30
2023-09-30
Source accession
0001403161-25-000089
0001403161-25-000089
0001403161-25-000089
Income statement
Service revenue
17,539,000,000
16,114,000,000
14,826,000,000
Data processing revenue
19,993,000,000
17,714,000,000
16,007,000,000
International transaction revenue
14,166,000,000
12,665,000,000
11,638,000,000
Other revenue
4,053,000,000
3,197,000,000
2,479,000,000
Client incentives
-15,751,000,000
-13,764,000,000
-12,297,000,000
Net revenue
40,000,000,000
35,926,000,000
32,653,000,000
Net revenue US
15,633,000,000
14,780,000,000
14,138,000,000
Net revenue international
24,367,000,000
21,146,000,000
18,515,000,000
Operating expenses
Personnel
6,961,000,000
6,264,000,000
5,831,000,000
Marketing
1,684,000,000
1,560,000,000
1,341,000,000
Network and processing
894,000,000
778,000,000
736,000,000
Professional fees
759,000,000
635,000,000
545,000,000
Depreciation and amortization
1,220,000,000
1,034,000,000
943,000,000
General and administrative
1,926,000,000
1,598,000,000
1,330,000,000
Litigation provision
2,562,000,000
462,000,000
927,000,000
Total operating expenses
16,006,000,000
12,331,000,000
11,653,000,000
Operating income
23,994,000,000
23,595,000,000
21,000,000,000
Operating margin %
60.0%
65.7%
64.3%
Interest expense
-589,000,000
-641,000,000
-644,000,000
Investment income expense and other
789,000,000
962,000,000
681,000,000
Total non operating income expense
200,000,000
321,000,000
37,000,000
Income before income taxes
24,194,000,000
23,916,000,000
21,037,000,000
Income tax provision
4,136,000,000
4,173,000,000
3,764,000,000
Effective tax rate %
17.1%
17.4%
17.9%
Net income
20,058,000,000
19,743,000,000
17,273,000,000
Net margin %
50.1%
55.0%
52.9%
Basic EPS class a
10.22
9.74
8.29
Basic weighted average shares class a
1,714,000,000
1,621,000,000
1,618,000,000
Diluted EPS class a
10.2
9.73
8.28
Diluted weighted average shares class a as converted
1,966,000,000
2,029,000,000
2,085,000,000
Balance sheet
Cash and cash equivalents
17,164,000,000
11,975,000,000
Restricted cash equivalents US litigation escrow
2,990,000,000
3,089,000,000
Investment securities current
1,833,000,000
3,200,000,000
Settlement receivable
4,191,000,000
4,454,000,000
Accounts receivable
3,126,000,000
2,561,000,000
Customer collateral asset
3,625,000,000
3,524,000,000
Client incentives current asset
2,158,000,000
1,918,000,000
Prepaid expenses and other current assets
2,679,000,000
3,312,000,000
Total current assets
37,766,000,000
34,033,000,000
Investment securities noncurrent
999,000,000
2,545,000,000
Client incentives noncurrent asset
5,157,000,000
4,628,000,000
Property equipment and technology net
4,236,000,000
3,824,000,000
Goodwill
19,879,000,000
18,941,000,000
Intangible assets net
27,646,000,000
26,889,000,000
Other assets
3,944,000,000
3,651,000,000
Total assets
99,627,000,000
94,511,000,000
Accounts payable
555,000,000
479,000,000
Settlement payable
4,568,000,000
5,265,000,000
Customer collateral liability
3,625,000,000
3,524,000,000
Accrued compensation and benefits
1,863,000,000
1,538,000,000
Client incentives current liability
10,369,000,000
9,075,000,000
Accrued liabilities
5,466,000,000
4,909,000,000
Current maturities of debt
5,569,000,000
0
Accrued litigation
3,033,000,000
1,727,000,000
Total current liabilities
35,048,000,000
26,517,000,000
Long term debt
19,602,000,000
20,836,000,000
Deferred tax liabilities
5,549,000,000
5,301,000,000
Other liabilities
1,519,000,000
2,720,000,000
Total liabilities
61,718,000,000
55,374,000,000
Total debt carrying value
25,171,000,000
20,836,000,000
Cash and investment securities
19,996,000,000
17,720,000,000
Preferred stock
745,000,000
1,031,000,000
Additional paid in capital
21,934,000,000
21,229,000,000
Accumulated income
15,106,000,000
17,289,000,000
Right to recover for covered losses
-124,000,000
-104,000,000
Total accumulated other comprehensive income loss
248,000,000
-308,000,000
Total equity
37,909,000,000
39,137,000,000
Shares outstanding class a
1,691,000,000
1,733,000,000
Shares outstanding class b1 and b2
125,000,000
125,000,000
Shares outstanding class c
9,000,000
10,000,000
Cash flow
Net income
20,058,000,000
19,743,000,000
17,273,000,000
Client incentives addback
15,751,000,000
13,764,000,000
12,297,000,000
Share based compensation
897,000,000
850,000,000
765,000,000
Depreciation and amortization
1,220,000,000
1,034,000,000
943,000,000
Deferred income taxes
152,000,000
-100,000,000
-483,000,000
Net cash provided by operating activities
23,059,000,000
19,950,000,000
20,755,000,000
Purchases of property equipment and technology
-1,482,000,000
-1,257,000,000
-1,059,000,000
Free cash flow
21,577,000,000
18,693,000,000
19,696,000,000
Purchases of investment securities
0
-4,443,000,000
-4,363,000,000
Proceeds from maturities and sales of investment securities
3,024,000,000
5,013,000,000
3,160,000,000
Acquisitions net of cash acquired
-887,000,000
-915,000,000
0
Other investing activities net
53,000,000
-324,000,000
256,000,000
Net cash provided by used in investing activities
708,000,000
-1,926,000,000
-2,006,000,000
Repurchases of class a common stock
-18,316,000,000
-16,713,000,000
-12,101,000,000
Repayments of debt
0
0
-2,250,000,000
Proceeds from issuance of senior notes
3,924,000,000
0
0
Dividends paid
-4,634,000,000
-4,217,000,000
-3,751,000,000
Proceeds from stock issued under equity plans
396,000,000
335,000,000
260,000,000
Taxes paid related to stock issued under equity plans
-281,000,000
-208,000,000
-130,000,000
Other financing activities
-52,000,000
170,000,000
200,000,000
Net cash provided by used in financing activities
-18,963,000,000
-20,633,000,000
-17,772,000,000
Dividends declared per class a share
2.36
2.08
1.8
Operating metrics
Total nominal payments volume
13,894,000,000,000
12,988,000,000,000
12,088,000,000,000
Total nominal volume
16,383,000,000,000
15,490,000,000,000
14,547,000,000,000
Cash volume
2,489,000,000,000
2,502,000,000,000
2,459,000,000,000
Visa processed transactions
257,545,000,000
233,758,000,000
212,579,000,000
Value added services revenue approx
10,900,000,000
8,800,000,000
7,200,000,000
Balance sheet note
The FY2025 10-K balance sheet presents only September 30, 2025 and 2024, so no September 30, 2023 balance sheet is reported here.
Quarterly
FY2026 Q2 (three months ended March 31, 2026)
FY2025 Q2 (three months ended March 31, 2025), prior-year comparative
FY2026 Q1 (three months ended December 31, 2025)
FY2026 first half (six months ended March 31, 2026)
FY2025 first half (six months ended March 31, 2025), prior-year comparative
Label
FY2026 Q2 (three months ended March 31, 2026)
FY2025 Q2 (three months ended March 31, 2025), prior-year comparative
FY2026 Q1 (three months ended December 31, 2025)
FY2026 first half (six months ended March 31, 2026)
FY2025 first half (six months ended March 31, 2025), prior-year comparative
Fiscal year
2026
2025
2026
2026
2025
Fiscal quarter
2
2
1
Period type
three_months
three_months
three_months
six_months
six_months
Period start
2026-01-01
2025-01-01
2025-10-01
2025-10-01
2024-10-01
Period end
2026-03-31
2025-03-31
2025-12-31
2026-03-31
2025-03-31
Source accession
0001403161-26-000079
0001403161-26-000079
0001403161-26-000044
0001403161-26-000079
0001403161-26-000079
Income statement
Service revenue
4,981,000,000
4,399,000,000
9,741,000,000
8,607,000,000
Data processing revenue
5,543,000,000
4,701,000,000
11,087,000,000
9,446,000,000
International transaction revenue
3,631,000,000
3,291,000,000
7,283,000,000
6,733,000,000
Other revenue
1,320,000,000
937,000,000
2,534,000,000
1,849,000,000
Client incentives
-4,245,000,000
-3,734,000,000
-8,514,000,000
-7,531,000,000
Net revenue
11,230,000,000
9,594,000,000
10,901,000,000
22,131,000,000
19,104,000,000
Net revenue US
4,319,000,000
3,811,000,000
8,482,000,000
7,549,000,000
Net revenue international
6,911,000,000
5,783,000,000
13,649,000,000
11,555,000,000
Operating expenses
Personnel
1,841,000,000
1,657,000,000
1,764,000,000
3,605,000,000
3,470,000,000
Marketing
545,000,000
381,000,000
410,000,000
955,000,000
687,000,000
Network and processing
260,000,000
224,000,000
233,000,000
493,000,000
431,000,000
Professional fees
238,000,000
173,000,000
208,000,000
446,000,000
316,000,000
Depreciation and amortization
333,000,000
305,000,000
326,000,000
659,000,000
587,000,000
General and administrative
450,000,000
419,000,000
515,000,000
965,000,000
900,000,000
Litigation provision
329,000,000
1,000,000,000
708,000,000
1,037,000,000
1,044,000,000
Total operating expenses
3,996,000,000
4,159,000,000
4,164,000,000
8,160,000,000
7,435,000,000
Operating income
7,234,000,000
5,435,000,000
6,737,000,000
13,971,000,000
11,669,000,000
Operating margin %
64.4%
56.6%
61.8%
63.1%
61.1%
Interest expense
-178,000,000
-158,000,000
-194,000,000
-372,000,000
-340,000,000
Investment income expense and other
118,000,000
161,000,000
183,000,000
301,000,000
309,000,000
Total non operating income expense
-60,000,000
3,000,000
-11,000,000
-71,000,000
-31,000,000
Income before income taxes
7,174,000,000
5,438,000,000
6,726,000,000
13,900,000,000
11,638,000,000
Income tax provision
1,153,000,000
861,000,000
873,000,000
2,026,000,000
1,942,000,000
Effective tax rate %
16.1%
15.8%
13.0%
14.6%
16.7%
Net income
6,021,000,000
4,577,000,000
5,853,000,000
11,874,000,000
9,696,000,000
Net margin %
53.6%
47.7%
53.7%
53.7%
50.8%
Basic EPS class a
3.15
2.32
3.03
6.18
4.9
Basic weighted average shares class a
1,674,000,000
1,721,000,000
1,687,000,000
1,681,000,000
1,725,000,000
Diluted EPS class a
3.14
2.32
3.03
6.17
4.9
Diluted weighted average shares class a as converted
1,916,000,000
1,974,000,000
1,933,000,000
1,924,000,000
1,979,000,000
Balance sheet
Cash and cash equivalents
12,404,000,000
12,404,000,000
Restricted cash equivalents US litigation escrow
665,000,000
665,000,000
Investment securities current
1,509,000,000
1,509,000,000
Settlement receivable
2,136,000,000
2,136,000,000
Accounts receivable
3,405,000,000
3,405,000,000
Customer collateral asset
4,292,000,000
4,292,000,000
Client incentives current asset
2,473,000,000
2,473,000,000
Prepaid expenses and other current assets
4,741,000,000
4,741,000,000
Total current assets
31,625,000,000
31,625,000,000
Investment securities noncurrent
308,000,000
308,000,000
Client incentives noncurrent asset
5,514,000,000
5,514,000,000
Property equipment and technology net
4,778,000,000
4,778,000,000
Goodwill
20,891,000,000
20,891,000,000
Intangible assets net
27,750,000,000
27,750,000,000
Other assets
4,183,000,000
4,183,000,000
Total assets
95,049,000,000
95,049,000,000
Accounts payable
557,000,000
557,000,000
Settlement payable
3,048,000,000
3,048,000,000
Customer collateral liability
4,292,000,000
4,292,000,000
Accrued compensation and benefits
1,392,000,000
1,392,000,000
Client incentives current liability
11,577,000,000
11,577,000,000
Accrued liabilities
5,670,000,000
5,670,000,000
Current maturities of debt
1,559,000,000
1,559,000,000
Accrued litigation
981,000,000
981,000,000
Total current liabilities
29,076,000,000
29,076,000,000
Long term debt
22,417,000,000
22,417,000,000
Deferred tax liabilities
5,893,000,000
5,893,000,000
Other liabilities
2,002,000,000
2,002,000,000
Total liabilities
59,388,000,000
59,388,000,000
Total debt carrying value
23,976,000,000
23,976,000,000
Cash and investment securities
14,221,000,000
14,221,000,000
Preferred stock
528,000,000
528,000,000
Additional paid in capital
22,033,000,000
22,033,000,000
Accumulated income
13,122,000,000
13,122,000,000
Right to recover for covered losses
-44,000,000
-44,000,000
Total accumulated other comprehensive income loss
22,000,000
22,000,000
Total equity
35,661,000,000
35,661,000,000
Shares outstanding class a
1,660,000,000
1,660,000,000
Shares outstanding class b1 and b2
125,000,000
125,000,000
Shares outstanding class c
9,000,000
9,000,000
Cash flow
Net income
11,874,000,000
9,696,000,000
Client incentives addback
8,514,000,000
7,531,000,000
Share based compensation
506,000,000
483,000,000
Depreciation and amortization
659,000,000
587,000,000
Deferred income taxes
18,000,000
-86,000,000
Net cash provided by operating activities
9,788,000,000
10,091,000,000
Purchases of property equipment and technology
-761,000,000
-672,000,000
Free cash flow
9,027,000,000
9,419,000,000
Purchases of investment securities
-50,000,000
0
Proceeds from maturities and sales of investment securities
1,025,000,000
2,268,000,000
Acquisitions net of cash acquired
-705,000,000
-887,000,000
Other investing activities net
-26,000,000
-49,000,000
Net cash provided by used in investing activities
-517,000,000
660,000,000
Repurchases of class a common stock
-11,625,000,000
-8,607,000,000
Repayments of debt
-4,000,000,000
0
Proceeds from issuance of senior notes
2,995,000,000
0
Dividends paid
-2,579,000,000
-2,334,000,000
Proceeds from stock issued under equity plans
133,000,000
246,000,000
Taxes paid related to stock issued under equity plans
-268,000,000
-242,000,000
Other financing activities
-52,000,000
-198,000,000
Net cash provided by used in financing activities
-15,396,000,000
-11,135,000,000
Dividends declared per class a share
1.34
1.18
Cash flow note
The 10-Q presents cash flows only for the six months ended March 31, 2026; see the six-month period below.
Operating metrics
Total nominal payments volume
3,868,000,000,000
3,525,000,000,000
7,601,000,000,000
6,934,000,000,000
Total nominal volume
4,526,000,000,000
4,155,000,000,000
8,904,000,000,000
8,193,000,000,000
Cash volume
658,000,000,000
630,000,000,000
1,303,000,000,000
1,259,000,000,000
Volume period
three months ended December 31, 2025
three months ended December 31, 2024
six months ended December 31, 2025
six months ended December 31, 2024
Visa processed transactions
66,086,000,000
60,651,000,000
135,485,000,000
124,448,000,000
Value added services revenue approx
3,300,000,000
2,600,000,000
6,500,000,000
5,000,000,000
Shareholder returns
Shares repurchased open market
25,000,000
13,000,000
36,000,000
26,000,000
Average repurchase cost per share
320.66
340.26
327.29
320.47
Repurchases of class a common stock per equity statement
-7,894,000,000
-4,473,000,000
-11,659,000,000
-8,413,000,000
Dividends declared and paid
-1,286,000,000
-1,164,000,000
-2,579,000,000
-2,334,000,000
Dividends declared per class a share
0.67
0.59
1.34
1.18
Source note
Figures are from the fiscal first-quarter 2026 earnings press release furnished with the Form 8-K filed January 29, 2026 (accession 0001403161-26-000044). They tie to the FY2026 Q2 10-Q, whose six-month column less its three-month column produces the same net revenue, operating income and net income.
Trailing twelve months
Trailing twelve months ended March 31, 2026
Label
Trailing twelve months ended March 31, 2026
Period start
2025-04-01
Period end
2026-03-31
Derivation
Fiscal 2025 full year (FY2025 10-K, accession 0001403161-25-000089) less the six months ended March 31, 2025 plus the six months ended March 31, 2026 (both from the FY2026 Q2 10-Q, accession 0001403161-26-000079).
Net revenue
43,027,000,000
Operating income
26,296,000,000
Operating margin %
61.1%
Net income
22,236,000,000
Net margin %
51.7%
Net cash provided by operating activities
22,756,000,000
Purchases of property equipment and technology
-1,571,000,000
Free cash flow
21,185,000,000
Dividends paid
-4,879,000,000
Repurchases of class a common stock
-21,334,000,000
Diluted EPS class a approx
11.47
Visa processed transactions
268,582,000,000
Note
A rolled-forward twelve-month view built by arithmetic from the periods the two filings present; the trailing diluted earnings per share is the sum of rounded per-share figures and is therefore approximate.
Units notes seen
Value
FY2025 10-K consolidated balance sheets
(in millions, except per share data)
FY2025 10-K consolidated statements of operations
(in millions, except per share data)
FY2025 10-K consolidated statements of cash flows
(in millions)
FY2025 10-K net revenue components and geography tables
(in millions, except percentages)
FY2025 10-K revenue disaggregation note (Note 3)
(in millions)
FY2025 10-K nominal payments and cash volume table
(in billions)
FY2025 10-K processed transactions table
(in millions, except percentages)
FY2025 10-K debt note (Note 10)
(in millions, except percentages)
FY2026 Q2 10-Q consolidated balance sheets
(in millions, except per share data)
FY2026 Q2 10-Q consolidated statements of operations
(in millions, except per share data)
FY2026 Q2 10-Q consolidated statements of cash flows
FY2026 Q2 10-Q nominal payments and cash volume tables
(in billions)
FY2026 Q2 10-Q processed transactions table
(in millions, except percentages)
FY2026 Q2 10-Q debt note
(in millions, except percentages)
FY2026 Q1 earnings release consolidated statements of operations
(in millions, except per share data)
Adjustments
Value
Splits applied
none
ADR ratio
n/a
FX
None. Visa reports in U.S. dollars, so no currency conversion was applied. The company does hold Euro-denominated senior notes; the dollar carrying values shown are the ones the filings report.
Note
No stock splits occurred over the periods covered, so no per-share history was restated.
Share class structure
Value
Description
Visa has class A common stock (the listed shares) plus class B-1, class B-2 and class C common stock and series A, B and C preferred stock, all convertible into class A on stated ratios. Earnings per share is presented separately for each class. The class A diluted weighted-average share count reported here is the as-converted figure the filings show alongside class A diluted earnings per share, so net income divided by class A diluted earnings per share reproduces it.
Shares outstanding 10k cover as of 2025-10-30
Class a
1,687,629,770
Class b1
4,835,384
Class b2
120,338,948
Class c
8,938,707
Source accession
0001403161-25-000089
Shares outstanding 10q cover as of 2026-04-21
Class a
1,659,709,932
Class b1
4,835,384
Class b2
120,338,948
Class c
8,880,326
Source accession
0001403161-26-000079
Debt detail
Value
2025-09-30
Principal outstanding
25,392,000,000
Unamortized discounts and issuance costs
-171,000,000
Hedge accounting fair value adjustments
-50,000,000
Total carrying value
25,171,000,000
Current maturities
5,569,000,000
Long term debt
19,602,000,000
Estimated fair value
23,300,000,000
Source accession
0001403161-25-000089
2024-09-30
Principal outstanding
21,111,000,000
Unamortized discounts and issuance costs
-142,000,000
Hedge accounting fair value adjustments
-133,000,000
Total carrying value
20,836,000,000
Current maturities
0
Long term debt
20,836,000,000
Estimated fair value
19,200,000,000
Source accession
0001403161-25-000089
2026-03-31
Principal outstanding
24,261,000,000
Unamortized discounts and issuance costs
-172,000,000
Hedge accounting fair value adjustments
-113,000,000
Total carrying value
23,976,000,000
Current maturities
1,559,000,000
Long term debt
22,417,000,000
Estimated fair value
n/a
Source accession
0001403161-26-000079
Note
All debt is unsecured senior notes. In May 2025 Visa issued Euro-denominated senior notes totalling EUR 3.5 billion (about $3.9 billion) with 3- to 19-year maturities; in February 2026 it issued $3.0 billion of U.S. dollar senior notes with 3- to 10-year maturities. A $4.0 billion 3.15% note matured and was repaid in December 2025.
Notes
All figures are drawn from the FY2025 Form 10-K (accession 0001403161-25-000089, fiscal year ended September 30, 2025) and the FY2026 second-quarter Form 10-Q (accession 0001403161-26-000079, quarter ended March 31, 2026), except the fiscal 2026 first quarter, which comes from the earnings press release furnished with the Form 8-K filed January 29, 2026 (accession 0001403161-26-000044).
Visa's fiscal year ends September 30. Fiscal 2026 second quarter therefore covers the three months ended March 31, 2026.
Figures in the filings are presented in millions and have been restated here in actual dollars. Payments and cash volume are presented in the filings in billions and are likewise restated in actual dollars; processed transaction counts are presented in millions and are restated as actual transactions.
There is no cost of revenue or gross profit line. Client incentives paid to financial institution clients, sellers and other partners are a reduction of gross revenue, not an operating expense, so net revenue is already net of them. Client incentives are shown here as a negative figure inside the income statement for that reason.
The client incentives line inside the cash flow statement is the non-cash add-back of incentives recognized in the period, and is offset lower down by the cash actually paid; it is not a second revenue reduction.
The income statement shows earnings per share for each of the four common share classes. The class A diluted weighted-average share count is the as-converted total (1,966 million for fiscal 2025, 1,916 million for the fiscal 2026 second quarter), which is materially larger than the class A shares outstanding on the filing cover because the class B and C shares and the preferred stock convert into class A.
The FY2025 10-K balance sheet presents only September 30, 2025 and 2024, so no September 30, 2023 balance sheet is reported; the income statement and cash flow statement present three years and all three are reported.
Free cash flow is calculated as cash provided by operating activities less purchases of property, equipment and technology. Visa reports no separate capitalized-software line, so purchases of property, equipment and technology is the full capital expenditure figure.
Total debt is stated at carrying value, which is the sum of current maturities of debt and long-term debt on the balance sheet and reconciles to the total carrying value of debt in the debt note.
Payments volume is reported by Visa on a one-quarter lag relative to the revenue it drives: service revenue for a period is primarily assessed on the prior period's nominal payments volume. Each volume figure is therefore labelled with the period the filing actually measured it over, for example, fiscal 2025 service revenue rests on the twelve months of payments volume ended June 30, 2025.
Dividends declared per class A share are the quarterly rates disclosed in the statements of changes in equity: $0.45 a quarter in fiscal 2023, $0.52 in fiscal 2024 and $0.59 in fiscal 2025, and $0.67 a quarter in fiscal 2026. Holders of the other common and preferred classes receive the equivalent on an as-converted basis.
The trailing-twelve-month block is arithmetic built from the periods the two filings present, not a figure either filing reports on its face.
Every figure above was read from the filings themselves. Where checked, the SEC's XBRL company facts agreed with the filings on net revenue, operating income, net income, total assets, cash and operating cash flow for each period reported here. One quirk worth naming for anyone working from the structured data: the generic Revenues concept in Visa's XBRL data stops at fiscal 2020, because the company has since tagged net revenue under the revenue-from-contracts-with-customers concept instead; reading the Revenues concept alone would make Visa's revenue appear to end in 2020.
The most recent Form 8-K, filed July 15, 2026, concerns an amendment to Visa's bylaws and contains no financial results. Fiscal 2026 third-quarter results (quarter ended June 30, 2026) had not been filed as of the latest filing covered here, so the fiscal 2026 second quarter is the most recent reported period.
Uncertainties
The fiscal 2026 first-quarter figures come from an earnings press release furnished on Form 8-K rather than from a Form 10-Q. They agree exactly with the fiscal 2026 second-quarter 10-Q where the two overlap (the 10-Q's six-month column less its three-month column gives the same $10,901 million of net revenue, $6,737 million of operating income and $5,853 million of net income), but press-release presentation can differ in detail from a filed quarterly report.
The trailing-twelve-month diluted earnings per share of about $11.47 is the sum of rounded per-period figures and is approximate; the underlying trailing net income and share counts are exact.
Value-added services revenue is disclosed by Visa only to one decimal place in billions ($10.9 billion in fiscal 2025, $3.3 billion in the fiscal 2026 second quarter), so those entries carry that rounding. Visa also states that this revenue is recognised inside data processing, other and service revenue and is not a separate income statement line.
Payments and cash volume are reported by Visa's financial institution clients subject to Visa's review, are rounded to the nearest billion in the filings, and Visa notes that previously presented volume information is occasionally updated. They are operating statistics rather than financial statement line items.
The estimated fair value of debt is disclosed only at fiscal year ends ($23.3 billion at September 30, 2025 and $19.2 billion at September 30, 2024); no fair value is shown for March 31, 2026, so that entry is left empty.
Litigation provisions swing sharply between periods ($2,562 million in fiscal 2025 against $462 million in fiscal 2024, and $329 million in the fiscal 2026 second quarter against $1,000 million a year earlier) and are management estimates that can be revised. Fiscal 2025 operating margin of 60.0% versus 65.7% in fiscal 2024 is largely explained by that swing.
Company details
Value
Name
Visa Inc.
Ticker
V
CIK
0001403161
Exchange
NYSE
State
California
Incorporation
Delaware
SIC
7389
Office
Trade & Services
Industry
Services-Business Services, NEC
Next filing
Value
Predicted date
2026-11-12
Predicted type
10-K
Fiscal period
FY2026
Fiscal year
2026
Fiscal period
Q2
Tag
FY26Q2
Period end
2026-03-31
Form
10-Q
Accession
0001403161-26-000079
Fiscal year end
0930
Source
facts
Built from Visa Inc.'s SEC filings by Ticker Scout. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer. Also for this company: company index, financials.json, index.json.