← VISA INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $15.1b $18.4b $20.6b $23.0b $21.8b $24.1b $29.3b $32.7b $35.9b $40.0b
Operating expenses:
Total operating expenses $7.2b $6.2b $7.7b $8.0b $7.8b $8.3b $10.5b $11.7b $12.3b $16.0b
Operating Income (Loss) $7.9b $12.1b $13.0b $15.0b $14.1b $15.8b $18.8b $21.0b $23.6b $24.0b
Additional Financial Items
Amortization of Intangible Assets $50.0m $56.0m $55.0m $60.0m $80.0m $83.0m $90.0m $76.0m $79.0m $78.0m
Depreciation and amortization $502.0m $556.0m $613.0m $656.0m $767.0m $804.0m $861.0m $943.0m $1.0b $1.2b
Equity Securities, FV-NI, Realized Gain (Loss) — — — — — $26.0m — — — —
Gain (Loss) on Investments — — — — — — — — ($44.0m) ($51.0m)
General and administrative $796.0m $1.1b $1.1b $1.2b $1.1b $985.0m $1.2b $1.3b $1.6b $1.9b
Income (Loss) from Continuing Operations before Income Taxes, Domestic $5.8b $8.4b $8.1b $9.5b $9.2b $11.0b $11.1b $13.3b $14.5b $14.8b
Income tax provision $2.0b $5.0b $2.5b $2.8b $2.9b $3.8b $3.2b $3.8b $4.2b $4.1b
Litigation provision $2.0m $19.0m $607.0m $400.0m $11.0m $3.0m $868.0m $927.0m $462.0m $2.6b
Marketing $869.0m $922.0m $988.0m $1.1b $971.0m $1.1b $1.3b $1.3b $1.6b $1.7b
Network and processing $538.0m $620.0m $686.0m $721.0m $727.0m $730.0m $743.0m $736.0m $778.0m $894.0m
Personnel $2.2b $2.6b $3.2b $3.4b $3.8b $4.2b $5.0b $5.8b $6.3b $7.0b
Professional fees $389.0m $409.0m $446.0m $454.0m $408.0m $403.0m $505.0m $545.0m $635.0m $759.0m
Realized Investment Gains (Losses) — — — — — — $68.0m $2.0m — —
Gain (Loss) on Derivative Instruments, Net, Pretax — — — $95.0m $150.0m $156.0m $151.0m ($25.0m) ($94.0m) ($45.0m)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $8.0b $11.7b $12.8b $14.9b $13.8b $16.1b $18.1b $21.0b $23.9b $24.2b
Investment Income, Net $82.0m $105.0m $470.0m $383.0m $200.0m $731.0m ($227.0m) $663.0m $948.0m $740.0m
Income before income taxes $8.0b $11.7b $12.8b $14.9b $13.8b $16.1b $18.1b $21.0b $23.9b $24.2b
Net Income (Loss) Attributable to Parent $6.0b $6.7b $10.3b $12.1b $10.9b $12.3b $15.0b $17.3b $19.7b $20.1b
Common Stock, Dividends, Per Share, Declared $16.53 $18.63 $29.43 $35.30 $32.42 $0.32 $0.38 $0.45 $0.52 $0.59
Diluted earnings per share (in dollars per share) $16.50 $18.60 $29.38 $35.24 $32.38 $37.27 $46.31 $54.65 $79.53 $82.67
Basic weighted-average shares outstanding (in shares) 2.2b 2.1b 2.0b 2.0b 2.0b 1.9b 1.9b 1.9b 1.8b 1.8b
Diluted weighted-average shares outstanding (in shares) 2.7b 2.7b 2.6b 2.5b 2.5b 2.4b 2.4b 2.3b 2.2b 2.1b
Other income (expense):
Current Income Tax Expense (Benefit) $2.8b $3.3b $3.8b $2.6b $2.6b $2.9b $3.5b $4.2b $4.3b $4.0b
General and Administrative Expense $796.0m $1.1b $1.1b $1.2b $1.1b $985.0m $1.2b $1.3b $1.6b $1.9b
Interest Expense (non-operating) — — — — — — — — $641.0m $589.0m
Interest expense ($427.0m) ($563.0m) ($612.0m) ($533.0m) ($516.0m) ($513.0m) ($538.0m) ($644.0m) ($641.0m) ($589.0m)
Investment income (expense) and other $556.0m $113.0m $464.0m $416.0m $225.0m $772.0m ($139.0m) $681.0m $962.0m $789.0m
Labor and Related Expense $2.2b $2.6b $3.2b $3.4b $3.8b $4.2b $5.0b $5.8b $6.3b $7.0b
Marketing and Advertising Expense $869.0m $922.0m $988.0m $1.1b $971.0m $1.1b $1.3b $1.3b $1.6b $1.7b
Other Nonoperating Income (Expense) $556.0m $113.0m $464.0m $416.0m $225.0m $772.0m ($139.0m) $681.0m $962.0m $789.0m
Income Tax Expense (Benefit) $2.0b $5.0b $2.5b $2.8b $2.9b $3.8b $3.2b $3.8b $4.2b $4.1b
Interest Income (Expense), Net ($427.0m) ($563.0m) ($612.0m) ($533.0m) ($516.0m) ($513.0m) ($538.0m) ($644.0m) ($641.0m) ($589.0m)
Nonoperating Income (Expense) $129.0m ($450.0m) ($148.0m) ($117.0m) ($291.0m) $259.0m ($677.0m) $37.0m $321.0m $200.0m
Total non-operating income (expense) $129.0m ($450.0m) ($148.0m) ($117.0m) ($291.0m) $259.0m ($677.0m) $37.0m $321.0m $200.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.