21 years of historical data (2005–2025) · Financial Services · Financial - Credit Services
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Visa Inc. trades at 31.4x earnings, roughly in line with its 5-year average of 30.9x, sitting at the 50th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 128%. On a free-cash-flow basis, the stock trades at 0.1x P/FCF, 100% below the 5-year average of 28.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.9B | $749.0B | $557.9B | $479.6B | $379.5B | $487.4B | $444.5B | $390.8B | $349.6B | $252.0B | $199.6B |
| Enterprise Value | $7.9B | $754.0B | $566.7B | $483.7B | $386.2B | $491.9B | $452.9B | $399.7B | $358.0B | $260.5B | $209.9B |
| P/E Ratio → | 31.39 | 33.47 | 28.26 | 27.78 | 25.38 | 39.56 | 40.89 | 32.33 | 33.96 | 37.59 | 33.35 |
| P/S Ratio | 0.07 | 18.72 | 15.53 | 14.69 | 12.95 | 20.22 | 20.35 | 17.01 | 16.96 | 13.73 | 13.24 |
| P/B Ratio | 18.53 | 19.76 | 14.25 | 12.38 | 10.66 | 12.97 | 12.28 | 11.27 | 10.28 | 7.69 | 6.07 |
| P/FCF | 0.13 | 34.71 | 29.84 | 24.35 | 21.22 | 33.56 | 45.81 | 32.49 | 29.14 | 29.65 | 39.52 |
| P/OCF | 0.13 | 32.48 | 27.96 | 23.11 | 20.13 | 32.01 | 42.58 | 30.57 | 27.50 | 27.37 | 35.82 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Visa Inc.'s enterprise value stands at 0.3x EBITDA, 99% below its 5-year average of 24.8x. The Financial Services sector median is 11.1x, placing the stock at a 97% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 18.85 | 15.78 | 14.81 | 13.18 | 20.41 | 20.73 | 17.40 | 17.37 | 14.19 | 13.92 |
| EV / EBITDA | 0.31 | 29.90 | 23.01 | 22.05 | 19.63 | 29.62 | 30.50 | 25.53 | 26.39 | 20.52 | 25.03 |
| EV / EBIT | 0.33 | 30.42 | 23.08 | 22.31 | 20.68 | 29.67 | 31.66 | 25.93 | 26.68 | 21.42 | 24.87 |
| EV / FCF | — | 34.94 | 30.32 | 24.56 | 21.60 | 33.87 | 46.67 | 33.23 | 29.85 | 30.65 | 41.56 |
Margins and return-on-capital ratios measuring operating efficiency
Visa Inc. earns an operating margin of 60.0%, significantly above the Financial Services sector average of 21.9%. Operating margins have compressed from 64.3% to 60.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 52.1% is exceptionally high — well above the sector median of 9.1%. ROIC of 29.2% represents excellent returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.4% | 80.4% | 80.4% | 79.9% | 80.4% | 79.4% | 79.3% | 81.9% | 81.3% | 82.3% | 81.7% |
| Operating Margin | 60.0% | 60.0% | 65.7% | 64.3% | 64.2% | 65.6% | 64.5% | 65.3% | 62.9% | 66.2% | 52.3% |
| Net Profit Margin | 50.1% | 50.1% | 55.0% | 52.9% | 51.0% | 51.1% | 49.7% | 52.6% | 50.0% | 36.5% | 39.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 52.1% | 52.1% | 50.7% | 46.5% | 40.9% | 33.4% | 30.7% | 35.2% | 30.9% | 20.4% | 19.1% |
| ROA | 20.7% | 20.7% | 21.3% | 19.6% | 17.8% | 15.0% | 14.2% | 17.0% | 15.0% | 10.1% | 11.6% |
| ROIC | 29.2% | 29.2% | 29.7% | 26.9% | 24.2% | 19.9% | 18.8% | 22.0% | 19.1% | 18.2% | 15.0% |
| ROCE | 36.2% | 36.2% | 34.9% | 31.8% | 28.5% | 23.7% | 22.4% | 25.6% | 22.4% | 21.3% | 17.5% |
Solvency and debt-coverage ratios — lower is generally safer
Visa Inc. carries a Debt/EBITDA ratio of 1.0x, which is very conservative (76% below the sector average of 4.1x). Net debt stands at $5.0B ($25.2B total debt minus $20.2B cash). Interest coverage of 40.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.66 | 0.66 | 0.53 | 0.53 | 0.63 | 0.56 | 0.68 | 0.48 | 0.49 | 0.56 | 0.48 |
| Debt / EBITDA | 1.00 | 1.00 | 0.85 | 0.93 | 1.14 | 1.26 | 1.66 | 1.07 | 1.23 | 1.45 | 1.89 |
| Net Debt / Equity | — | 0.13 | 0.23 | 0.11 | 0.19 | 0.12 | 0.23 | 0.26 | 0.25 | 0.26 | 0.31 |
| Net Debt / EBITDA | 0.20 | 0.20 | 0.36 | 0.19 | 0.34 | 0.27 | 0.56 | 0.57 | 0.62 | 0.67 | 1.22 |
| Debt / FCF | — | 0.23 | 0.47 | 0.21 | 0.38 | 0.31 | 0.86 | 0.74 | 0.71 | 1.00 | 2.03 |
| Interest Coverage | 40.74 | 40.74 | 36.81 | 32.61 | 34.97 | 30.81 | 27.29 | 28.14 | 21.17 | 21.57 | 18.46 |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.08x means Visa Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.45x to 1.08x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.08 | 1.08 | 1.28 | 1.45 | 1.45 | 1.75 | 1.91 | 1.56 | 1.61 | 1.90 | 1.78 |
| Quick Ratio | 1.08 | 1.08 | 1.28 | 1.45 | 1.45 | 1.75 | 1.91 | 1.56 | 1.61 | 1.90 | 1.78 |
| Cash Ratio | 0.58 | 0.58 | 0.45 | 0.71 | 0.75 | 1.05 | 1.12 | 0.58 | 0.72 | 0.99 | 0.70 |
| Asset Turnover | — | 0.40 | 0.38 | 0.36 | 0.34 | 0.29 | 0.27 | 0.32 | 0.30 | 0.27 | 0.24 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Visa Inc. returns 100.0% to shareholders annually — split between a 0.7% dividend yield and 100.0% buyback yield. The payout ratio of 23.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 0.6% | 0.8% | 0.8% | 0.8% | 0.6% | 0.6% | 0.6% | 0.5% | 0.6% | 0.7% |
| Payout Ratio | 23.1% | 23.1% | 21.4% | 21.7% | 21.4% | 22.7% | 24.5% | 18.8% | 18.6% | 23.6% | 22.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 3.0% | 3.5% | 3.6% | 3.9% | 2.5% | 2.4% | 3.1% | 2.9% | 2.7% | 3.0% |
| FCF Yield | 100.0% | 2.9% | 3.4% | 4.1% | 4.7% | 3.0% | 2.2% | 3.1% | 3.4% | 3.4% | 2.5% |
| Buyback Yield | 100.0% | 1.8% | 3.0% | 2.5% | 3.1% | 1.8% | 1.8% | 2.2% | 2.1% | 2.7% | 3.6% |
| Total Shareholder Yield | 100.0% | 2.4% | 3.8% | 3.3% | 3.9% | 2.4% | 2.4% | 2.8% | 2.6% | 3.4% | 4.3% |
| Shares Outstanding | — | $2.2B | $2.0B | $2.1B | $2.1B | $2.2B | $2.2B | $2.3B | $2.3B | $2.4B | $2.4B |
Compare V with 7 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| VYou | $3B | 31.4 | 0.3 | 0.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
| MA | $458B | 31.3 | 22.7 | 26.7 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
| AXP | $213B | 22.0 | 15.3 | 17.5 | 81.9% | 17.4% | 34.7% | 12.2% | 3.5 |
| PYPL | $43B | 8.5 | 5.9 | 7.6 | 47.0% | 19.7% | 25.7% | 16.3% | 1.3 |
| WU | $3B | 6.3 | 1.9 | 7.7 | 28.7% | 19.4% | 51.9% | 23.3% | — |
| GDOT | $641M | -23.1 | -10.7 | 90.3 | 33.6% | -0.1% | -3.1% | -0.1% | 0.7 |
| CURR | $160M | -2.0 | — | 55.7 | 31.4% | -59.0% | — | — | — |
| PMTS | $140M | 7.5 | 5.0 | 4.1 | 35.6% | 13.1% | — | 19.9% | 3.7 |
| Financial Services Median | — | 13.8 | 11.1 | 11.2 | 60.2% | 21.9% | 9.1% | 5.4% | 4.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 21 years · Updated daily
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Start ComparisonVisa Inc.'s current P/E ratio is 31.4x. The historical average is 33.7x. This places it at the 50th percentile of its historical range.
Visa Inc.'s current EV/EBITDA is 0.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.7x.
Visa Inc.'s return on equity (ROE) is 52.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 38.5%.
Based on historical data, Visa Inc. is trading at a P/E of 31.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Visa Inc.'s current dividend yield is 0.66% with a payout ratio of 23.1%.
Visa Inc. has 80.4% gross margin and 60.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Visa Inc.'s Debt/EBITDA ratio is 1.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.