Where do Visa's ratios come from?

Every ratio is computed from Visa's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Visa V Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '25
Profitability
Operating margin	61.1%-2.6pp	59.2%-5.7pp	60%-5.7pp	62.2%-3.1pp	63.7%-0.4pp
Net margin	51.7%-1.2pp	50.2%-4.0pp	50.1%-4.8pp	52.2%-2.6pp	52.9%-1.0pp
EBITDA margin	64.1%-2.5pp	62.2%-5.5pp	63%-5.5pp	65.2%-2.9pp	66.7%-0.3pp
Free cash flow margin	49.2%-5.3pp	55.4%0.0pp	53.9%+1.9pp	56.8%+2.5pp	54.5%-3.3pp
Returns
Return on equity	60.3%+9.7pp	54%+2.8pp	52.1%+1.4pp	51.8%+3.2pp	50.7%+4.1pp
Return on assets	23.7%+2.2pp	22%+0.2pp	20.7%-0.7pp	21.2%0.0pp	21.5%+0.9pp
Return on invested capital	51.3%+5.0pp	50.7%+3.4pp	46.5%-3.0pp	46.9%-0.3pp	46.3%+2.5pp
Efficiency
Asset turnover	0.5×+0.1×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Liquidity
Current ratio	1.1×0.0×	1.1×0.0×	1.1×-0.2×	1.1×-0.3×	1.1×-0.3×
Quick ratio	1.1×0.0×	1.1×0.0×	1.1×-0.2×	1.1×-0.3×	1.1×-0.3×
Cash ratio	0.6×0.0×	0.7×0.0×	0.7×0.0×	0.7×-0.1×	0.6×-0.2×
Leverage
Debt-to-equity	0.7×+0.1×	0.6×-0.1×	0.8×+0.3×	0.8×+0.3×	0.6×+0.1×
Debt-to-assets	0.3×0.0×	0.2×0.0×	0.3×+0.1×	0.3×+0.1×	0.3×0.0×
Net debt / EBITDA	0.2×0.0×	-0×-0.2×	0.3×+0.2×	0.2×+0.2×	0.2×+0.1×
Interest coverage	42.3×+8.7×	40.8×+3.2×	40.7×+3.9×	43.6×+8.4×	33.6×-0.9×
Valuation
Market capitalization	$581.28B-14.0%	$676.18B+10.5%	$662.6B+20.6%	$686.91B+30.9%	$676.04B+23.1%
Enterprise value	$588.1B-13.7%	$675.77B+9.6%	$669.26B+21.3%	$693.15B+31.8%	$681.62B+23.7%
Price / earnings	26.1×-7.9×	32.5×+1.9×	33×+5.2×	33.9×+6.4×	34×+4.1×
Price / sales	13.5×-4.5×	16.3×-0.3×	16.6×+1.3×	17.7×+2.6×	18×+1.9×
Price / book	16.3×-1.5×	17.4×+1.5×	17.5×+3.4×	17.8×+4.6×	17.8×+4.2×
EV / EBITDA	21.3×-5.9×	26.2×+1.5×	26.5×+4.1×	27.3×+5.2×	27.2×+3.1×
EV / sales	13.7×-4.4×	16.3×-0.4×	16.7×+1.4×	17.8×+2.8×	18.1×+2.0×
Free cash flow yield	3.6%+0.6pp	3.4%+0.1pp	3.3%-0.1pp	3.2%-0.4pp	3%-0.6pp
Earnings yield	3.8%+0.9pp	3.1%-0.2pp	3%-0.6pp	3%-0.7pp	2.9%-0.4pp
Dividend yield	0.8%+0.2pp	0.7%0.0pp	0.7%-0.1pp	0.7%-0.1pp	0.7%-0.1pp
PEG ratio	2.2×-2.0×	7.9×+5.1×	20.7×+18.8×	5.5×+3.7×	4.2×+2.4×

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Questions, answered.

Where do Visa's ratios come from?: Every ratio is computed from Visa's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.