Income StatementBalance SheetCash FlowSegments
Visa logo

Visa Cash Flow Statement

Operating, investing, and financing cash movements

Visa generated $22.8B in operating cash flow over the trailing twelve months. After $1.6B in capital expenditures, free cash flow was $21.2B. Free cash flow increased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$22.8BNet Cash From Investing (TTM)-$4.3BNet Cash From Financing (TTM)-$23.2BCapital Expenditures (TTM)$1.6BDepreciation And Amortization Cf (TTM)$1.3BNet Change In Cash (TTM)-$430.0M
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$625.45B
P/E Ratio28.13
ROE60.35%

Operating

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Other non-cash income (expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Other non-cash income (expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Change in accounts payable-$54.0M——$81.0M-$114.0M—
Change in accounts receivable$64.0M$92.0M$178.0M$208.0M$109.0M$128.0M
Deferred income taxes$38.0M-$124.0M$433.0M—-$435.0M$453.0M
Depreciation and amortization$282.0M$305.0M$317.0M$316.0M$326.0M$333.0M
Other Non-Cash Income (Expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Other Non-cash Income (Expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Other Non-cash Income (Expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Net cash from operating activities$5.4B$4.7B$6.7B$6.2B$6.8B$3.0B
Net income$5.1B$4.6B$5.3B$5.1B$5.9B$6.0B
Other non-cash income (expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Client incentives$3.8B$3.7B$4.0B$4.2B$4.3B$4.2B
Income (Loss) From Equity Method Investments And Fair Market Value Alternative Investments-$75.0M-$23.0M-$35.0M—-$7.0M-$15.0M
Accrued expenses and other liabilities-$303.0M-$493.0M-$403.0M—-$611.0M—
Accrued litigation-$72.0M$423.0M$271.0M$681.0M$373.0M-$2.4B
Increase (Decrease) In Client Incentives$3.6B$3.5B$4.1B$4.1B$3.8B$4.0B
Increase (Decrease) in Other Operating Assets$10.0M$390.0M-$382.0M-$178.0M-$35.0M$1.9B
Increase (Decrease) in Settlement payable-$673.0M—$774.0M-$1.5B-$233.0M-$1.5B
Increase (Decrease) in Settlement Receivable-$657.0M—$343.0M-$585.0M-$981.0M-$1.1B
Other Noncash Income (Expense)-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
VE territory covered losses-$27.0M———-$3.0M-$25.0M
Other Non-cash Income and Expense-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Other Non-Cash Adjustments-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Other Non-Cash Income and Expense-$56.0M-$9.0M-$5.0M-$24.0M-$18.0M-$4.0M
Stock-based compensation$224.0M$259.0M$223.0M$191.0M$231.0M$275.0M

Investing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Acquisitions, net of cash acquired$906.0M———$0.0$705.0M
Capital expenditures$345.0M$327.0M$421.0M$389.0M$378.0M$383.0M
Payment for (Proceeds from) Other Investing Activity-$5.0M$30.0M$18.0M-$164.0M-$19.0M—
Payments to Acquire Other Investments$6.0M$18.0M$17.0M$27.0M$5.0M$23.0M
Proceeds From Sale And Maturity Of Available For Sale Securities$2.0B$226.0M$200.0M$556.0M$725.0M$300.0M
Net cash from investing activities$790.0M——$304.0M$361.0M-$878.0M
Purchases of investments$0.0$0.0$0.0$0.0——

Supplemental

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Capital expenditures incurred but not yet paid$40.0M$20.0M—$8.0M$26.0M$99.0M
Interest paid$213.0M$48.0M$278.0M$48.0M$213.0M$48.0M
Capital expenditures incurred but not yet paid$40.0M$20.0M—$8.0M$26.0M$99.0M
Capital Expenditures Incurred but Not Yet Paid$40.0M$20.0M—$8.0M$26.0M$99.0M
Income Taxes Paid, Net$1.2B$1.9B$532.0M$954.0M$1.3B$2.7B

Financing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Repayments of debt$0.0$0.0——$4.0B—
Dividends paid$1.2B$1.2B$1.2B$1.1B$1.3B$1.3B
Proceeds from issuances of debt——$3.9B———
Other, net-$186.0M-$12.0M——$185.0M-$237.0M
Payment of Deferred Purchase Consideration-$186.0M-$12.0M——$185.0M-$237.0M
Noncontrolling interest transactions and other-$186.0M-$12.0M——$185.0M-$237.0M
Net cash from financing activities-$5.5B-$5.7B-$1.8B-$6.0B-$9.0B-$6.4B
Noncontrolling Interests Activity and Other-$186.0M-$12.0M——$185.0M-$237.0M
Proceeds from issuance of common stock$127.0M$119.0M$95.0M$55.0M$78.0M$55.0M
Repurchases of common stock$4.0B$4.6B$4.8B$4.9B$3.7B$7.9B
Taxes paid for net share settlement$235.0M$7.0M$12.0M$27.0M$231.0M$37.0M

Free Cash Flow

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Free cash flow$5.1B$4.4B$6.3B$5.8B$6.4B$2.6B

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Effect of exchange rate changes on cash-$508.0M$265.0M$659.0M$4.0M$34.0M-$190.0M
Net increase (decrease) in cash$203.0M-$830.0M$5.3B$546.0M-$1.8B-$4.5B
Accrued payables for capital expenditures$40.0M$20.0M—$8.0M$26.0M$99.0M