Visa Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	20,792	20,058	19,743	17,273	14,957	12,311
Depreciation & Amortization	1,264	1,220	1,034	943	861	804
Stock-Based Compensation	904	897	850	765	602	542
Other Adjustments	15,973	16,056	13,755	11,796	10,086	8,272
Change in Receivables	-587	-542	-237	-250	-97	-343
Changes in Accounts Payable	7	67	109	34	-	88
Changes in Accrued Expenses	1,067	930	-704	1,586	1,531	999
Changes in Other Operating Activities	-14,977	-15,627	-14,600	-11,392	-9,091	-7,446
Operating Cash Flow	24,443	23,059	19,950	20,755	18,849	15,227
Operating Cash Flow Growth	12.47%	15.58%	-3.88%	10.11%	23.79%	45.85%
Capital Expenditures	-1,515	-1,482	-1,257	-1,059	-970	-705
Purchases of Investments	-67	-68	-4,674	-4,484	-6,083	-5,182
Proceeds from Sale of Investments	1,707	3,024	5,013	3,160	4,585	5,701
Payments for Business Acquisitions	19	-887	-915	-	-1,948	-75
Other Investing Activities	135	121	-93	377	128	109
Investing Cash Flow	279	708	-1,926	-2,006	-4,288	-152
Long-Term Debt Issued	-	3,924	-	-	3,218	-
Long-Term Debt Repaid	-4,000	-	-	-2,250	-1,000	-3,000
Net Long-Term Debt Issued (Repaid)	-4,000	3,924	-	-2,250	2,218	-3,000
Issuance of Common Stock	347	396	335	260	196	208
Repurchase of Common Stock	-18,030	-18,316	-16,713	-12,101	-11,589	-8,676
Net Common Stock Issued (Repurchased)	-17,683	-17,920	-16,378	-11,841	-11,393	-8,468
Common Dividends Paid	-4,757	-4,634	-4,217	-3,751	-3,203	-2,798
Other Financing Activities	42	-333	-38	70	-318	-144
Financing Cash Flow	-22,474	-18,963	-20,633	-17,772	-12,696	-14,410
Effect of Exchange Rate Changes on Cash and Cash Equivalents	962	420	382	636	-1,287	-37
Net Cash Flow	3,210	5,224	-2,227	1,613	578	628
Free Cash Flow	22,928	21,577	18,693	19,696	17,879	14,522
Free Cash Flow Growth	6.26%	15.43%	-5.09%	10.16%	23.12%	49.65%
FCF Margin	55.39%	53.94%	52.03%	60.32%	61.00%	60.24%
Free Cash Flow Per Share	11.75	10.98	9.21	9.45	-	-
Levered Free Cash Flow	2,638	9,090	4,325	5,135	9,506	3,051
Unlevered Free Cash Flow	6,450	5,000	4,060	7,355	7,846	5,852

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.