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
Loss (Gain) From Sale of Investments	19	87	94	104	264	-712
Stock-Based Compensation	904	897	850	765	602	542
Other Operating Activities	15,954	15,969	13,661	11,692	9,822	8,984
Change in Accounts Receivable	-587	-542	-237	-250	-97	-343
Change in Accounts Payable	7	67	109	34	67	88
Change in Other Net Operating Assets	-13,910	-14,697	-15,304	-9,806	-7,627	-6,447
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
Cash Acquisitions	19	-887	-915	-	-1,948	-75
Investment in Securities	1,640	2,956	339	-1,324	-1,498	519
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	-	-	-	-2,250	-1,000	-3,000
Net Debt Issued (Repaid)	-76	3,924	-	-2,250	2,218	-3,000
Issuance of Common Stock	347	396	335	260	196	208
Repurchase of Common Stock	-18,307	-18,597	-16,921	-12,231	-11,709	-8,820
Common Dividends Paid	-4,757	-4,634	-4,217	-3,751	-3,203	-2,798
Other Financing Activities	319	-52	170	200	-198	-
Financing Cash Flow	-22,474	-18,963	-20,633	-17,772	-12,696	-14,410
Foreign Exchange Rate Adjustments	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	12.41%	15.43%	-5.09%	10.16%	23.12%	49.65%
Free Cash Flow Margin	55.39%	53.94%	52.03%	60.32%	61.00%	60.25%
Free Cash Flow Per Share	11.74	10.97	9.21	9.45	8.37	6.64
Cash Interest Paid	587	587	583	617	607	643
Cash Income Tax Paid	4,637	4,541	5,775	3,433	3,741	3,012
Levered Free Cash Flow	22,032	20,073	13,145	16,717	13,737	11,932
Unlevered Free Cash Flow	22,408	20,441	13,546	17,119	14,074	12,252
Change in Working Capital	-14,490	-15,172	-15,432	-10,022	-7,657	-6,702

Source: S&P Global Market Intelligence. Standard template. Financial Sources.