V · 10-Q · 2026Q1 · Full report

Liquidity and Cash Position

VISA INC. · 2026-04-29 · Importance 30 · Surprise 14 · Contradicted

Operating cash provided decreased to $9,788 million for the six months ended March 31, 2026 (from $10,091 million prior year), primarily due to higher litigation payments, timing of income tax payments and higher incentive payments. Cash used in investing activities increased driven by lower proceeds from maturities and sales of investment securities; cash used in financing activities increased due to the December 2025 senior notes principal repayment and higher share repurchases. Visa states its primary sources of liquidity are cash on hand, cash flow from operations, investments and access to equity/borrowing arrangements and that current and projected sources are sufficient to meet liquidity needs for more than the next 12 months. The company also deposited $625 million into the U.S. litigation escrow and reports a $665 million escrow balance reflected as restricted cash equivalents.

Key facts

• For the six months ended March 31, 2026, net cash provided by operating activities: $9,788 million. source
• Cash and cash equivalents as of March 31, 2026: $12,404 million. source
• Net aggregate proceeds from the February 2026 senior notes, after deductions, were approximately $3.0 billion. source
• Total current assets as of March 31, 2026: $31,625 million. source
• Total assets as of March 31, 2026: $95,049 million. source
• A principal payment on our senior notes of €1.4 billion ($1.6 billion) is due in June 2026 for which we have sufficient liquidity. source
• Accounts receivable as of March 31, 2026: $3,405 million. source
• Investment securities as of March 31, 2026: $1,509 million. source

Impact estimates