Visa Inc. Cash Flow Statement

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

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2016 - 2020
Period Ending	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	2016 - 2020
Net Income	20,058	19,743	17,273	14,957	12,311	Upgrade
Depreciation & Amortization	1,220	1,034	943	861	804	Upgrade
Loss (Gain) From Sale of Investments	87	94	104	264	-712	Upgrade
Stock-Based Compensation	897	850	765	602	542	Upgrade
Other Operating Activities	15,969	13,661	11,692	9,822	8,984	Upgrade
Change in Accounts Receivable	-542	-237	-250	-97	-343	Upgrade
Change in Accounts Payable	67	109	34	67	88	Upgrade
Change in Other Net Operating Assets	-14,697	-15,304	-9,806	-7,627	-6,447	Upgrade
Operating Cash Flow	23,059	19,950	20,755	18,849	15,227	Upgrade
Operating Cash Flow Growth	15.58%	-3.88%	10.11%	23.79%	45.85%	Upgrade
Capital Expenditures	-1,482	-1,257	-1,059	-970	-705	Upgrade
Cash Acquisitions	-887	-915	-	-1,948	-75	Upgrade
Investment in Securities	2,956	339	-1,324	-1,498	519	Upgrade
Other Investing Activities	121	-93	377	128	109	Upgrade
Investing Cash Flow	708	-1,926	-2,006	-4,288	-152	Upgrade
Long-Term Debt Issued	3,924	-	-	3,218	-	Upgrade
Long-Term Debt Repaid	-	-	-2,250	-1,000	-3,000	Upgrade
Net Debt Issued (Repaid)	3,924	-	-2,250	2,218	-3,000	Upgrade
Issuance of Common Stock	396	335	260	196	208	Upgrade
Repurchase of Common Stock	-18,597	-16,921	-12,231	-11,709	-8,820	Upgrade
Common Dividends Paid	-4,634	-4,217	-3,751	-3,203	-2,798	Upgrade
Other Financing Activities	-52	170	200	-198	-	Upgrade
Financing Cash Flow	-18,963	-20,633	-17,772	-12,696	-14,410	Upgrade
Foreign Exchange Rate Adjustments	420	382	636	-1,287	-37	Upgrade
Net Cash Flow	5,224	-2,227	1,613	578	628	Upgrade
Free Cash Flow	21,577	18,693	19,696	17,879	14,522	Upgrade
Free Cash Flow Growth	15.43%	-5.09%	10.16%	23.12%	49.65%	Upgrade
Free Cash Flow Margin	53.94%	52.03%	60.32%	61.00%	60.25%	Upgrade
Free Cash Flow Per Share	10.97	9.21	9.45	8.37	6.64	Upgrade
Cash Interest Paid	587	583	617	607	643	Upgrade
Cash Income Tax Paid	4,541	5,775	3,433	3,741	3,012	Upgrade
Levered Free Cash Flow	20,073	13,145	16,717	13,737	11,932	Upgrade
Unlevered Free Cash Flow	20,441	13,546	17,119	14,074	12,252	Upgrade
Change in Working Capital	-15,172	-15,432	-10,022	-7,657	-6,702	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.