Visa Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 24.11B | 29.31B | 32.65B | 35.93B | 40.00B | 11.3% | |
| Cost of Revenue | (4.97B) | (5.73B) | (6.57B) | (7.04B) | (7.86B) | 11.5% | |
Gross Profit | 19.14B | 23.58B | 26.09B | 28.88B | 32.15B | 11.3% | |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | |
| Selling, General & Administrative | (2.52B) | (3.04B) | (3.22B) | (3.79B) | (4.37B) | 15.2% | |
| General & Administrative | (1.39B) | (1.70B) | (1.88B) | (2.23B) | (2.69B) | 20.2% | |
| Selling & Marketing | (1.14B) | (1.34B) | (1.34B) | (1.56B) | (1.68B) | 7.9% | |
| Depreciation & Amortization | (804.00M) | (861.00M) | (943.00M) | (1.03B) | (1.22B) | 18.0% | |
Operating Income (EBIT) | 15.80B | 18.81B | 21.00B | 23.59B | 23.99B | 1.7% | |
| Non-Operating Items | |||||||
| Interest Income | — | — | — | — | — | — | |
| Interest Expense | (513.00M) | (538.00M) | (644.00M) | (641.00M) | (589.00M) | -8.1% | |
| Other Income/Expenses (Net) | 259.00M | -677.00M | 37.00M | 321.00M | 200.00M | -37.7% | |
Income Before Tax | 16.06B | 18.14B | 21.04B | 23.92B | 24.19B | 1.2% | |
| Income Tax Expense | (3.75B) | (3.18B) | (3.76B) | (4.17B) | (4.14B) | -0.9% | |
Net Income | 12.31B | 14.96B | 17.27B | 19.74B | 20.06B | 1.6% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $6 | $7 | $8 | $10 | $10 | 4.9% | |
| Weighted Avg Shares Outstanding | 2.13B | 2.14B | 2.08B | 2.00B | 1.94B | -2.8% | |
| Weighted Avg Shares Outstanding (Diluted) | 2.19B | 2.14B | 2.08B | 2.03B | 1.97B | -3.1% | |
EBITDA | 17.38B | 19.54B | 22.62B | 25.59B | 26.00B | 1.6% |
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