IT Home, October 28: Visa today released its fiscal year 2026 report (October 1, 2025, to September 30, 2026) and its fourth fiscal quarter report (July 1, 2026, to September 30, 2026).
For the full fiscal year 2026, Visa reported total operating revenue of $45.903 billion, a 15% year-over-year increase; gross profit of $28.11 billion, a 17.15% year-over-year increase; a gross margin of 61.24%, an increase of 1.25 percentage points year-over-year; net income attributable to shareholders of $23.504 billion, a 17% year-over-year increase; operating cash flow of $23.728 billion; basic earnings per share of $12.32; diluted earnings per share of $12.32, a 21% year-over-year increase; and a debt-to-assets ratio of 61.75%.
In the fourth fiscal quarter, Visa reported total operating revenue of $12.139 billion, a 13% year-over-year increase and a 4.35% sequential increase; gross profit of $7.262 billion, a 18.12% year-over-year increase; a gross margin of 59.83%, up 250 basis points year-over-year; net income attributable to shareholders of $6.002 billion, a 18% year-over-year increase and a 6.65% sequential increase; basic earnings per share of $3.19, a 22% year-over-year increase; diluted earnings per share of $3.19, a 22% year-over-year increase; and a debt-to-assets ratio of 61.75%.
The AI analysis indicates that the key metrics of this earnings report overall exceeded market consensus expectations, with net revenue, GAAP net profit, and non-GAAP profitability all surpassing analyst forecasts, continuing a streak of eight consecutive quarters of above-consensus performance.
In terms of its core business and overall performance highlights, Visa is a global leader in digital payments, providing a transaction settlement network spanning more than 200 countries and regions for consumers, merchants, financial institutions, and government agencies. Its primary revenue sources include service fees, data processing fees, and cross-border transaction fees.
For the fourth quarter of fiscal year 2026, net revenue reached $12.139 billion, a 13% year-over-year increase; GAAP net profit was $6.002 billion, up 18% year-over-year. Non-GAAP net profit was $6.552 billion, up 13% year-over-year. For the full fiscal year 2026, net revenue reached $45.903 billion, a 15% year-over-year increase; GAAP net profit was $23.504 billion, up 17% year-over-year. Non-GAAP net profit was $25.314 billion, up 12% year-over-year.
On an operational level, in the fourth quarter of fiscal year 2026, payment volume, cross-border transaction volume, and number of processed transactions all continued to grow, increasing by 9%, 14%, and 10% respectively on a constant-dollar basis year-over-year; for the full year, the corresponding metrics increased by 9%, 13%, and 9% year-over-year respectively.
Looking ahead, the company signed a final agreement in August 2026 to acquire behavioral multi-signal anti-fraud provider BioCatch for $2.4 billion in cash, with the transaction expected to close in the second quarter of fiscal year 2027, further strengthening its payment security and risk management capabilities.
In terms of shareholder returns, the company repurchased and paid dividends totaling $5.2 billion in the fourth quarter of fiscal year 2026, and $25.6 billion for the full year. The board announced a 16% increase in the quarterly cash dividend to $0.78 per share.
The article also notes that Visa currently holds an oligopolistic position in the global payment network, with strong business growth resilience and stable cash flow, combined with ongoing share repurchase and dividend policies, making it a valuable long-term defensive investment. The article further highlights the need to monitor potential impacts on profit margins from legal provisions and rising operating costs.