Visa annual free cash flow
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2025
Visa Free Cash Flow (FCF) History (V)
Visa reported $21.58B in free cash flow for fiscal 2025, an increase of 15.43% from the previous fiscal year, with a free cash flow margin of 53.94%.
View full Visa company overviewVisa free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-09-30 | $21.58B | $2.88B | +15.43% | +53.94% |
| 2024 | 2024-09-30 | $18.69B | −$1.00B | −5.09% | +52.03% |
| 2023 | 2023-09-30 | $19.70B | $1.82B | +10.16% | +60.32% |
| 2022 | 2022-09-30 | $17.88B | $3.36B | +23.12% | +61.00% |
| 2021 | 2021-09-30 | $14.52B | $4.82B | +49.65% | +60.24% |
| 2020 | 2020-09-30 | $9.70B | −$2.32B | −19.32% | +44.42% |
| 2019 | 2019-09-30 | $12.03B | −$195.0M | −1.60% | +52.35% |
| 2018 | 2018-09-30 | $12.22B | $3.61B | +41.96% | +59.31% |
| 2017 | 2017-09-30 | $8.61B | $3.56B | +70.46% | +46.90% |
| 2016 | 2016-09-30 | $5.05B | −$1.12B | −18.14% | +33.49% |
| 2015 | 2015-09-30 | $6.17B | −$482.0M | −7.25% | +44.45% |
| 2014 | 2014-09-30 | $6.65B | $4.10B | +160.76% | +52.37% |
| 2013 | 2013-09-30 | $2.55B | −$2.08B | −44.94% | +21.66% |
| 2012 | 2012-09-30 | $4.63B | $1.11B | +31.66% | +44.46% |
| 2011 | 2011-09-30 | $3.52B | $1.07B | +43.63% | +38.30% |
| 2010 | 2010-09-30 | $2.45B | $2.20B | +872.22% | +30.38% |
| 2009 | 2009-09-30 | $252.0M | $136.0M | +117.24% | +3.65% |
| 2008 | 2008-09-30 | $116.0M | −$229.0M | −66.38% | +1.85% |
| 2007 | 2007-09-30 | $345.0M | — | — | +9.61% |
Visa quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-03-31 | $2.63B | −$1.74B | −39.90% | +23.37% |
| Q1 2026 | 2025-12-31 | $6.40B | $1.35B | +26.75% | +58.73% |
| Q4 2025 | 2025-09-30 | $5.85B | −$506.0M | −7.96% | +54.54% |
| Q3 2025 | 2025-06-30 | $6.31B | $1.57B | +33.27% | +62.02% |
| Q2 2025 | 2025-03-31 | $4.37B | $111.0M | +2.61% | +45.53% |
| Q1 2025 | 2024-12-31 | $5.05B | $1.70B | +50.91% | +53.11% |
| Q4 2024 | 2024-09-30 | $6.36B | −$267.0M | −4.03% | +66.08% |
| Q3 2024 | 2024-06-30 | $4.73B | −$768.0M | −13.96% | +53.19% |
| Q2 2024 | 2024-03-31 | $4.26B | $607.0M | +16.63% | +48.51% |
| Q1 2024 | 2023-12-31 | $3.35B | −$575.0M | −14.66% | +38.77% |
| Q4 2023 | 2023-09-30 | $6.62B | $1.04B | +18.65% | +76.92% |
| Q3 2023 | 2023-06-30 | $5.50B | $485.0M | +9.67% | +67.73% |
| Q2 2023 | 2023-03-31 | $3.65B | $428.0M | +13.28% | +45.71% |
| Q1 2023 | 2022-12-31 | $3.92B | −$137.0M | −3.38% | +49.42% |
| Q4 2022 | 2022-09-30 | $5.58B | $1.82B | +48.31% | +71.67% |
| Q3 2022 | 2022-06-30 | $5.02B | $782.0M | +18.47% | +68.96% |
| Q2 2022 | 2022-03-31 | $3.22B | $51.0M | +1.61% | +44.82% |
| Q1 2022 | 2021-12-31 | $4.06B | $706.0M | +21.06% | +57.50% |
| Q4 2021 | 2021-09-30 | $3.76B | $1.83B | +95.18% | +57.37% |
| Q3 2021 | 2021-06-30 | $4.24B | $1.39B | +49.07% | +69.09% |
| Q2 2021 | 2021-03-31 | $3.17B | $1.92B | +153.48% | +55.35% |
| Q1 2021 | 2020-12-31 | $3.35B | −$331.0M | −8.98% | +58.96% |
| Q4 2020 | 2020-09-30 | $1.93B | −$1.86B | −49.17% | +37.80% |
| Q3 2020 | 2020-06-30 | $2.84B | −$349.0M | −10.94% | +58.73% |
| Q2 2020 | 2020-03-31 | $1.25B | −$657.0M | −34.43% | +21.37% |
| Q1 2020 | 2019-12-31 | $3.68B | $547.0M | +17.44% | +60.85% |
| Q4 2019 | 2019-09-30 | $3.79B | $512.0M | +15.60% | +61.81% |
| Q3 2019 | 2019-06-30 | $3.19B | −$377.0M | −10.57% | +54.62% |
| Q2 2019 | 2019-03-31 | $1.91B | −$795.0M | −29.41% | +34.73% |
| Q1 2019 | 2018-12-31 | $3.14B | $465.0M | +17.40% | +56.97% |
| Q4 2018 | 2018-09-30 | $3.28B | $600.0M | +22.38% | +60.38% |
| Q3 2018 | 2018-06-30 | $3.57B | $225.0M | +6.73% | +68.07% |
| Q2 2018 | 2018-03-31 | $2.70B | $2.45B | +981.20% | +53.28% |
| Q1 2018 | 2017-12-31 | $2.67B | $335.0M | +14.33% | +54.96% |
| Q4 2017 | 2017-09-30 | $2.68B | $370.0M | +16.01% | +55.22% |
| Q3 2017 | 2017-06-30 | $3.34B | $3.17B | +1854.39% | +73.21% |
| Q2 2017 | 2017-03-31 | $250.0M | −$466.0M | −65.08% | +5.58% |
| Q1 2017 | 2016-12-31 | $2.34B | $484.0M | +26.12% | +52.39% |
| Q4 2016 | 2016-09-30 | $2.31B | $715.0M | +44.80% | +54.24% |
| Q3 2016 | 2016-06-30 | $171.0M | −$1.87B | −91.61% | +4.71% |
| Q2 2016 | 2016-03-31 | $716.0M | −$164.0M | −18.64% | +19.75% |
| Q1 2016 | 2015-12-31 | $1.85B | $196.0M | +11.83% | +51.98% |
| Q4 2015 | 2015-09-30 | $1.60B | $30.0M | +1.92% | +44.69% |
| Q3 2015 | 2015-06-30 | $2.04B | $204.0M | +11.13% | +57.90% |
| Q2 2015 | 2015-03-31 | $880.0M | −$952.0M | −51.97% | +25.81% |
| Q1 2015 | 2014-12-31 | $1.66B | $236.0M | +16.61% | +48.99% |
| Q4 2014 | 2014-09-30 | $1.57B | −$341.0M | −17.88% | +48.50% |
| Q3 2014 | 2014-06-30 | $1.83B | −$202.0M | −9.93% | +58.10% |
| Q2 2014 | 2014-03-31 | $1.83B | $299.0M | +19.50% | +57.92% |
| Q1 2014 | 2013-12-31 | $1.42B | $4.34B | — | +45.04% |
| Q4 2013 | 2013-09-30 | $1.91B | $644.0M | +50.99% | +64.14% |
| Q3 2013 | 2013-06-30 | $2.04B | $886.0M | +77.11% | +67.81% |
| Q2 2013 | 2013-03-31 | $1.53B | $497.0M | +47.97% | +51.83% |
| Q1 2013 | 2012-12-31 | −$2.92B | −$4.11B | — | −102.74% |
| Q4 2012 | 2012-09-30 | $1.26B | $512.0M | +68.18% | +46.25% |
| Q3 2012 | 2012-06-30 | $1.15B | −$157.0M | −12.02% | +44.80% |
| Q2 2012 | 2012-03-31 | $1.04B | $505.0M | +95.10% | +40.19% |
| Q1 2012 | 2011-12-31 | $1.19B | $254.0M | +27.28% | +46.53% |
| Q4 2011 | 2011-09-30 | $751.0M | −$45.0M | −5.65% | +31.51% |
| Q3 2011 | 2011-06-30 | $1.31B | $153.0M | +13.27% | +56.24% |
| Q2 2011 | 2011-03-31 | $531.0M | −$36.0M | −6.35% | +23.65% |
| Q1 2011 | 2010-12-31 | $931.0M | $997.0M | — | +41.60% |
| Q4 2010 | 2010-09-30 | $796.0M | $1.11B | — | +37.60% |
| Q3 2010 | 2010-06-30 | $1.15B | $873.0M | +311.79% | +56.83% |
| Q2 2010 | 2010-03-31 | $567.0M | $402.0M | +243.64% | +28.94% |
| Q1 2010 | 2009-12-31 | −$66.0M | −$183.0M | — | −3.37% |
| Q4 2009 | 2009-09-30 | −$310.0M | — | — | −16.50% |
| Q3 2009 | 2009-06-30 | $280.0M | — | — | +17.01% |
| Q2 2009 | 2009-03-31 | $165.0M | — | — | +10.02% |
| Q1 2009 | 2008-12-31 | $117.0M | — | — | +6.73% |
Visa free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $9.70B to $21.58B, a compound annual growth rate of 17.33%. Visa's latest reported quarter, Q2 2026, generated $2.63B in free cash flow, a decrease of 39.90% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Visa filings at SEC.gov ↗