$V · VISA INC.
Visa filed its FY2026 10-K for the year ended September 30, 2026. Net revenue grew 14.8% to $45.9B from $40.0B, net income rose 17% to $23.5B, and diluted EPS increased 21% to $12.32. Operating margin was 61.2%. Value-added services revenue reached $14.2B, up from $10.9B in FY2025.
- Net revenue $45.9B, up 14.8% YoY from $40.0B.
- Net income $23.5B, up 17% from $20.1B.
- Diluted EPS $12.32, up 21% from $10.20.
- Value-added services revenue $14.2B vs $10.9B in FY2025.
- Operating margin 61.2%; litigation provision $1.76B vs $2.56B prior year.
Extended-hours last trade $422.17, down 0.10% vs regular close and 0.09% vs filing-time price — a muted reaction despite strong full-year results.
Visa delivered double-digit growth across revenue, profit, and EPS while expanding high-margin value-added services, underscoring durable pricing power in global payments.
Visa's 14.8% revenue growth and 61.2% operating margin reinforce its position as the dominant global payments network, with VAS and agentic-commerce investments extending beyond core card rails.
Litigation provisions remain material at $1.76B in FY2026, and rising client incentives ($18.3B) pressure net revenue. Regulatory and competitive risks from fintechs, stablecoins, and AI-driven commerce are flagged.