V · 10-K · 2026A

VISA INC.

Filed 2026-11-05 · Other · View original filing on EDGAR

Ranked Events

• Share Repurchase and Capital Return ProgramImportance 83 · Surprise 42
  Visa repurchased 61 million class A shares for $20.5 billion during fiscal 2026. In April 2026, the board authorized an additional $20.0 billion repurchase program, and $24.4 billion of authorization remained at…
• Acquisition — BioCatchImportance 65 · Surprise 60
  In August 2026, Visa entered into a definitive agreement to acquire BioCatch for $2.4 billion in cash. BioCatch provides behavioral-first, multi-signal fraud intelligence. The acquisition remains subject to customary…
• Acquisitions and DivestituresImportance 65 · Surprise 60
  In August 2026, Visa agreed to acquire BioCatch, a behavioral-first, multi-signal fraud-intelligence provider, for $2.4 billion in cash; the transaction remained subject to customary closing conditions and regulatory…
• Interchange Litigation Provision and EscrowImportance 64 · Surprise 56
  Visa recorded $1.6 billion of additional accruals during fiscal 2026 for claims associated with interchange multidistrict litigation. It deposited an additional $1.3 billion into the U.S. litigation escrow account…
• Value-Added Services GrowthImportance 64 · Surprise 56
  Value-added services revenue reached $14.2 billion in fiscal 2026, up 31% from the prior year, with growth across all portfolios and the largest contributions from Issuing Solutions and Advisory and Other Services.…
• Revenue Performance and MixImportance 54 · Surprise 40
  Fiscal 2026 net revenue rose 15% to $45.903 billion from $40.000 billion, driven primarily by cross-border volume, processed transactions and payments volume, partly offset by higher client incentives. U.S. revenue…
• Acquisition — Prisma and NewpayImportance 53 · Surprise 60
  Visa acquired Prisma Medios de Pago S.A.U. and Newpay S.A.U. in Argentina in February 2026. Total purchase consideration was $1.5 billion in cash. The filing identifies the transactions as acquisitions but does not…
• Market Demand Trends — Consumer Spending & Cross-borderImportance 48 · Surprise 40
  Fiscal 2026 volume growth was driven primarily by resilient consumer spending and continued expansion in digital commerce. Nominal payments volume grew 10%, supported by broad-based credit and debit spending, while…
• Liquidity and Cash PositionImportance 42 · Surprise 14
  At September 30, 2026, Visa held $12.9 billion of cash and cash equivalents and $850 million of available-for-sale debt securities. Operating cash flow increased to $23.728 billion in fiscal 2026 from $23.059 billion,…
• Regulatory Risk — Brazil Settlement RequirementsImportance 40 · Surprise 42
  Brazil’s Central Bank adopted enhanced prudential requirements for payment networks that may require Visa to absorb certain settlement-related losses involving sellers in Brazil when settlement failures occur and…
• Outstanding IndebtednessImportance 37 · Surprise 6
  Visa issued $3.0 billion of fixed-rate senior notes in February 2026, with maturities ranging from three to ten years. At September 30, 2026, senior-note principal outstanding totaled $22.6 billion. Principal payments…
• Operating Expense TrendsImportance 35 · Surprise 22
  Fiscal 2026 operating expenses rose 11% to $17.793 billion from $16.006 billion, primarily because of higher personnel and marketing expenses. Personnel expense increased to $7.934 billion from $6.961 billion,…
• OECD Global Minimum TaxImportance 29 · Surprise 24
  The OECD issued administrative guidance on implementing a 15% global minimum tax, which various jurisdictions have enacted or are considering. In fiscal 2026, Visa recorded a provision for global minimum taxes,…
• Class B Share ExchangeImportance 28 · Surprise 42
  In May 2026, Visa accepted 3 million tendered class B-1 shares and 120 million tendered class B-2 shares in its exchange offer. In exchange for the retired shares, Visa issued 61 million class B-3 shares and 23 million…
• Income Tax Rate ChangesImportance 25 · Surprise 32
  Visa's effective income tax rate was 16% in fiscal 2026, compared with 17% in fiscal 2025. Fiscal 2026 included a $314 million deferred tax benefit from a change in U.S. taxation of certain foreign earnings. Visa also…
• FX / Currency ImpactImportance 18 · Surprise 14
  Visa’s revenue is affected when payments volume and related revenue denominated in local currencies are converted to U.S. dollars. In fiscal 2026, exchange-rate movements increased net revenue growth by approximately…
• Macroeconomic Factors ImpactImportance 10 · Surprise 6
  Visa attributed volume growth primarily to continued resilience in consumer spending and ongoing digital-commerce expansion. It says future support from the shift toward digital commerce and electronic payments will…

Revenue by Product (in millions)

Revenue by Geography (in millions)