What is Visa's total cost of revenue?

Visa (V) reported total cost of revenue of $260M in Q1 2026.

How has Visa's total cost of revenue changed year-over-year?

Visa's total cost of revenue increased by 16.1% year-over-year, from $224M to $260M.

What is the long-term trend for Visa's total cost of revenue?

Over 4 years (2021 to 2025), Visa's total cost of revenue has grown at a 5.2% compound annual growth rate (CAGR), from $730M to $894M.

What does total cost of revenue mean?

The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

Visa V Total Cost of Revenue

Total Cost of Revenue at other companies

Fidelity National Information ServicesFIS

$2.19B+32.3%

MarqetaMQ

$48.21M+19.3%

ACI WorldwideACIW

$228.46M+7.1%

Global PaymentsGPN

$1.27B+157%

WEXWEX

$280.1M+3.7%

DeluxeDLX

$258.7M+1.3%

Other financials

Income statement

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Revenue$11.2B+17.1%

Gross profit$11.0B+17.1%

Operating income$7.2B+33.1%

Net income$6.0B+31.5%

EPS (diluted)$3.14+35.3%

Balance sheet

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Cash & equivalents$18.7B-2.2%

Total debt$25.5B+3.3%

Total equity$35.7B-6.2%

Total assets$95.0B+2.4%

Cash flow

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Operating cash flow$3.0B-35.9%

CapEx$383.0M+17.1%

Free cash flow$2.6B-39.9%

Valuation

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Market cap$662.19B-5.0%

Enterprise value$669.02B-4.8%

P/E29.8×-4.6×

P/S15.4×-2.5×

Profitability

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Gross margin97.8%0.0pp

Operating margin61.1%-2.6pp

Net margin51.7%-1.2pp

FCF margin49.2%-5.3pp

Returns & leverage

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Return on equity60.3%+9.7pp

Debt / equity0.7×+0.1×

Current ratio1.1×0.0×

Where this comes from

Calculated from Visa’s reported figures.

$11.2Btotal revenue−$11.0Bgross profit=$260M

The official record: Visa’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Visa's total cost of revenue?: Visa (V) reported total cost of revenue of $260M in Q1 2026.
How has Visa's total cost of revenue changed year-over-year?: Visa's total cost of revenue increased by 16.1% year-over-year, from $224M to $260M.
What is the long-term trend for Visa's total cost of revenue?: Over 4 years (2021 to 2025), Visa's total cost of revenue has grown at a 5.2% compound annual growth rate (CAGR), from $730M to $894M.
What does total cost of revenue mean?: The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.