VISA INC.
V · NYSE · CIK 0001403161
SIC 7389
Services-Business Services, NEC
Category
Other
Entity
operating
Incorp.
DE
Fiscal Y/E
0930
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$323.87
+5.08 (+1.59%)
Open
$319.10
High
$325.18
Low
$318.01
Prev Close
$318.79
Volume
4,757,440
52W High
$373.33
52W Low
$293.89
50-day MA
$311.47
Quote as of: 2026-05-11
Market Cap
$610.99B
P/E
28.01
P/B
17.69
PEG
1.71
EPS
11.47
BPS
20.03
Dividend Yield
0.82%
Beta
0.78
ROE
75.87%
ROA
20.13%
D/E Ratio
2.33
Current Ratio
1.08
Operating Margin
109.83%
Net Margin
91.82%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$109.23B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $109.23B | +459% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $234.50B | +161% |
Justified P/E 순이익 × 산업 평균 P/E | $300.87B | +103% |
P/B 배수 자본 × 산업 평균 P/B | $39.66B | +1441% |
P/S 배수 매출 × 산업 평균 P/S | $43.69B | +1298% |
DCF (Gordon) CF × (1+g) / (r − g) | $316.39B | +93% |
DDM (Gordon) D × (1+g) / (r − g) | $63.58B | +861% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +459.4% below the current market cap → the stock trades above most formulas' estimates (overvalued). 7 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +459.4%√(22.5 × 순이익 × 자본)
Current
$610.99B
Implied fair
$109.23B
Gap (current − fair)
+$501.76B(+459.4%)
NetIncome = $20.06B Equity = $26.44B √(22.5 × $20.06B × $26.44B) = $109.23B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Overvalued +160.6%순이익 × (8.5 + 2 × 성장률%)
Current
$610.99B
Implied fair
$234.50B
Gap (current − fair)
+$376.49B(+160.6%)
NetIncome = $20.06B Growth g = 1.6% → cap 1.6% Multiple = 8.5 + 2 × 1.6 = 11.7× $20.06B × 11.7 = $234.50B
- EPS 성장률 1.6%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 11.7x
Justified P/E
Overvalued +103.1%순이익 × 산업 평균 P/E
Current
$610.99B
Implied fair
$300.87B
Gap (current − fair)
+$310.12B(+103.1%)
NetIncome = $20.06B Industry P/E = 15× $20.06B × 15 = $300.87B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +1440.8%자본 × 산업 평균 P/B
Current
$610.99B
Implied fair
$39.66B
Gap (current − fair)
+$571.34B(+1440.8%)
Equity = $26.44B Industry P/B = 1.5× $26.44B × 1.5 = $39.66B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Overvalued +1298.4%매출 × 산업 평균 P/S
Current
$610.99B
Implied fair
$43.69B
Gap (current − fair)
+$567.30B(+1298.4%)
Revenue = $21.85B Industry P/S = 2× $21.85B × 2 = $43.69B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +93.1%CF × (1+g) / (r − g)
Current
$610.99B
Implied fair
$316.39B
Gap (current − fair)
+$294.60B(+93.1%)
FCF = $23.06B Discount r = 4.0% + 5.0% = 9.0% Growth g = 1.6% $23.06B × (1 + 1.6%) / (9.0% − 1.6%) = $316.39B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 1.6% (실질 GDP 수준)
DDM (Gordon)
Overvalued +861.0%D × (1+g) / (r − g)
Current
$610.99B
Implied fair
$63.58B
Gap (current − fair)
+$547.41B(+861.0%)
Dividend D = $4.63B Discount r = 9.0% Growth g = 1.6% $4.63B × (1 + 1.6%) / (9.0% − 1.6%) = $63.58B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 1.6%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +57.4% | +83.6% | +109.9% | +136.1% | +162.3% |
| 2% | +29.9% | +55.9% | +81.8% | +107.8% | +133.8% |
| 3% | +2.9% | +28.6% | +54.4% | +80.1% | +105.8% |
| 4% | -23.6% | +1.9% | +27.4% | +52.9% | +78.3% |
| 5% | -49.5% | -24.3% | +0.9% | +26.2% | +51.4% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +683.3% | +813.8% | +944.4% | +1074.9% | +1205.4% |
| 2% | +546.3% | +675.6% | +804.9% | +934.1% | +1063.4% |
| 3% | +412.0% | +540.0% | +668.1% | +796.1% | +924.1% |
| 4% | +280.3% | +407.1% | +533.9% | +660.7% | +787.5% |
| 5% | +151.1% | +276.7% | +402.3% | +527.9% | +653.4% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2025-11-06
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Income | 23,994 | 23,595 | 21,000 | 18,813 | 15,804 |
| Net Income | 20,058 | 19,743 | 17,273 | 14,957 | 12,311 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 99,627 | 94,511 | 90,499 | 85,501 | 82,896 |
| Current Assets | 37,766 | 34,033 | 33,532 | 30,205 | 27,607 |
| Cash & Equivalents | 17,164 | 11,975 | 16,286 | 15,689 | 16,487 |
| Total Liabilities | 61,718 | 55,374 | 51,766 | 49,920 | 45,307 |
| Current Liabilities | 35,048 | 26,517 | 23,098 | 20,853 | 15,739 |
| Long-term Debt | — | — | — | — | 20,977 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 23,059 | 19,950 | 20,755 | 18,849 | 15,227 |
| Investing CF | 708 | -1,926 | -2,006 | -4,288 | -152 |
| Financing CF | -18,963 | -20,633 | -17,772 | -12,696 | -14,410 |
| Dividends Paid | 4,634 | 4,217 | 3,751 | 3,203 | 2,798 |
📄 SEC Filings
Current Report
8-K
2026-05-11
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Quarterly Report
10-Q
2026-04-29
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Current Report
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2026-04-28
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2026-02-27
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2026-02-13
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2026-02-12
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2026-01-30
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2026-01-29
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2026-01-28
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2025-12-30
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2025-12-23
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Proxy Statement
DEFINITIVE PROXY STATEMENT
2025-12-08
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Current Report
8-K
2025-11-10
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Annual Report
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2025-11-06
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2025-10-28
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2025-09-29
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2025-09-26
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2025-09-19
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2025-08-08
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2025-07-30
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2025-07-29
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2025-07-23
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Other filings (78)
SC TO-I/A
SC TO-I/A
2026-05-11
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425
425
2026-05-11
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Insider Transaction
PRIMARY DOCUMENT
2026-04-30
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SCHEDULE 13G
xslSCHEDULE_13G_X02/primary_doc.xml
2026-04-30
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144
xsl144X01/primary_doc.xml
2026-04-29
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EFFECT
xslEFFECTX01/primary_doc.xml
2026-04-13
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SC TO-I
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2026-04-13
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424B3
424B3
2026-04-13
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425
425
2026-04-13
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S-4/A
S-4/A
2026-04-06
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SCHEDULE 13G/A
xslSCHEDULE_13G_X02/primary_doc.xml
2026-03-27
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Insider Transaction
PRIMARY DOCUMENT
2026-03-12
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144
xsl144X01/primary_doc.xml
2026-03-11
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S-4
S-4
2026-03-05
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Insider Transaction
PRIMARY DOCUMENT
2026-02-18
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Insider Transaction
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2026-02-18
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Insider Transaction
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2026-02-18
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Insider Transaction
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2026-02-18
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425
425
2026-02-13
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424B2
424B2
2026-02-04
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FWP
FWP
2026-02-03
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424B2
424B2
2026-02-03
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Insider Transaction
PRIMARY DOCUMENT
2026-01-28
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Insider Transaction
PRIMARY DOCUMENT
2026-01-28
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Insider Transaction
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2026-01-28
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Insider Transaction
PRIMARY DOCUMENT
2026-01-28
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Insider Transaction
PRIMARY DOCUMENT
2026-01-28
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Insider Transaction
PRIMARY DOCUMENT
2026-01-28
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Insider Transaction
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2026-01-28
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Insider Transaction
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2026-01-28
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Insider Transaction
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2026-01-28
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2026-01-28
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PX14A6G
BOWYER RESEARCH - PX14A6G
2026-01-09
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PX14A6G
NATIONAL LEGAL AND POLICY CENTER - PX14A6G
2026-01-07
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Insider Transaction
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2026-01-05
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144
xsl144X01/primary_doc.xml
2026-01-02
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Insider Transaction
PRIMARY DOCUMENT
2025-12-12
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Insider Transaction
PRIMARY DOCUMENT
2025-12-12
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144
xsl144X01/primary_doc.xml
2025-12-11
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144
xsl144X01/primary_doc.xml
2025-12-11
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ARS
ANNUAL REPORT TO SECURITY HOLDERS
2025-12-08
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DEFA14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS
2025-12-08
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Insider Transaction
PRIMARY DOCUMENT
2025-12-05
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144
xsl144X01/primary_doc.xml
2025-12-02
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144
xsl144X01/primary_doc.xml
2025-12-02
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Insider Transaction
PRIMARY DOCUMENT
2025-12-02
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Insider Transaction
PRIMARY DOCUMENT
2025-12-02
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Insider Transaction
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2025-12-02
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Insider Transaction
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2025-12-02
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Insider Transaction
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2025-12-02
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PRE 14A
PRELIMINARY PROXY STATEMENT
2025-11-26
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2025-11-21
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2025-11-21
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Insider Transaction
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2025-11-21
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Insider Transaction
PRIMARY DOCUMENT
2025-11-21
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Insider Transaction
PRIMARY DOCUMENT
2025-11-21
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Insider Transaction
PRIMARY DOCUMENT
2025-11-21
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Insider Transaction
PRIMARY DOCUMENT
2025-11-21
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144
xsl144X01/primary_doc.xml
2025-11-21
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144
xsl144X01/primary_doc.xml
2025-11-21
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Insider Transaction
PRIMARY DOCUMENT
2025-11-05
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144
xsl144X01/primary_doc.xml
2025-11-04
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Insider Transaction
PRIMARY DOCUMENT
2025-11-04
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144
xsl144X01/primary_doc.xml
2025-11-03
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Insider Transaction
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2025-10-16
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Insider Transaction
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2025-10-02
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144
xsl144X01/primary_doc.xml
2025-10-01
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3
PRIMARY DOCUMENT
2025-09-29
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Insider Transaction
PRIMARY DOCUMENT
2025-09-03
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144
xsl144X01/primary_doc.xml
2025-09-02
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Insider Transaction
PRIMARY DOCUMENT
2025-08-19
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Insider Transaction
PRIMARY DOCUMENT
2025-08-19
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Insider Transaction
PRIMARY DOCUMENT
2025-08-19
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144
xsl144X01/primary_doc.xml
2025-08-18
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Insider Transaction
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2025-08-15
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144
xsl144X01/primary_doc.xml
2025-08-14
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Insider Transaction
PRIMARY DOCUMENT
2025-07-02
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144
xsl144X01/primary_doc.xml
2025-07-01
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