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Visa

V on NYSE. Visa sells payment processing services to banks, merchants, and consumers. Market value $601.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to September 2025.

Should I look at this?

Good business, but not cheap right now

Why it could be worth it

What to watch out for

See cheaper Financial services stocks on the list

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.0%fair

For every $100 of what the whole company costs, it produced $3.02 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
26.2×full

You pay 26.2 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to September 2025
38.7%five-year median

Each dollar kept in the business earns 39 cents a year. Above 10 is good.

Quality score: 100 of 100. Price score: 41 of 100. Our list needs 70 on quality and 60 on price.

$370.64 a share, 26% above its 1-year low

Over the past year the price has ranged from $293.89 to $385.57.

Dividend: 0.7% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

14.5
17.9
19.7
18.7
21.6
21.0
2021202220232024202512 monthsto Jun '26
Revenue
$24.1bn$29.3bn$32.7bn$35.9bn$40.0bn
Operating margin
65.6%64.2%64.3%65.7%60.0%
Debt to equity
0.560.630.530.530.66
Shares outstanding
n/an/an/an/an/a

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)5 of 7 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.66× equity
  • Revenue growth, five yearsStrong, 12.9% a year

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $11.6 billion last quarter, up 14% on a year ago.
  • Profit: $5.6 billion, up 7% on a year ago.
  • It keeps 61 cents of each $1 of sales as operating profit, down from 62 cents a year earlier.
  • Spare cash over the past 12 months: $21 billion, down from $22.1 billion.
  • Debt is $11.5 billion more than cash, up from $8 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$9.6bn
December 2024$9.5bn
March 2025$9.6bn
June 2025$10.2bn
September 2025$10.7bn
December 2025$10.9bn
March 2026$11.2bn
June 2026$11.6bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$5.3bn
December 2024$5.1bn
March 2025$4.6bn
June 2025$5.3bn
September 2025$5.1bn
December 2025$5.9bn
March 2026$6.0bn
June 2026$5.6bn

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
27 October 2026
Last annual report (10-K)
6 November 2025
Next quarterly (estimated, 10-Q)
28 October 2026

Who owns it

52 long-term investors we follow own it, up from 51 last quarter. 4,563 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 7 sold $86m, $55m of it under preset trading plans.

  • MCINERNEY RYAN
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    1 October 2026
    Shares
    5,875
    Price
    $358.81
    Value
    $2m
  • ROTTENBERG JULIE B
    GENERAL COUNSEL
    Sold
    under a preset trading plan
    Date
    9 September 2026
    Shares
    1,867
    Price
    $368.34
    Value
    $687,691
  • MCINERNEY RYAN
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    5,875
    Price
    $379.65
    Value
    $2m
  • ROTTENBERG JULIE B
    GENERAL COUNSEL
    Sold
    under a preset trading plan
    Date
    31 August 2026
    Shares
    2,028
    Price
    $381.35
    Value
    $773,378
  • Taneja Rajat
    PRESIDENT, TECHNOLOGY
    Sold
    Date
    21 August 2026
    Shares
    17,927
    Price
    $371.00
    Value
    $7m
  • MCINERNEY RYAN
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    21 August 2026
    Shares
    5,875
    Price
    $367.87
    Value
    $2m
  • MAHON TULLIER KELLY
    VICE CHAIR, CHF PPL & CORP AFF
    Sold
    Date
    30 July 2026
    Shares
    57,272
    Price
    $364.97
    Value
    $21m
  • ROTTENBERG JULIE B
    GENERAL COUNSEL
    Sold
    under a preset trading plan
    Date
    2 July 2026
    Shares
    2,027
    Price
    $360.00
    Value
    $729,720
  • MCINERNEY RYAN
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    10,490
    Price
    $343.99
    Value
    $4m
  • MCINERNEY RYAN
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    29 June 2026
    Shares
    20,970
    Price
    $340.25
    Value
    $7m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 6 Nov 2025, plus the 10-Q filed 29 Jul 2026 and 15 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It isn't cheap on profits: 26.2× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.