How does Visa (V) make money?

Visa (V) generates revenue primarily from Data Processing Revenues, which accounted for 50.6% of total revenue in TTM through Q2 2026. The company reported $44.5B in revenue and converted 50.8% of it into net profit, equivalent to roughly $22.6B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Visa (V)?

Visa (V) reported a gross profit margin of 80.2% in TTM through Q2 2026, equivalent to $35.7B in gross profit on $44.5B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Visa (V)?

Visa (V) reported an operating profit margin of 60.7% in TTM through Q2 2026, equivalent to $27B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Visa (V)?

Visa (V) reported a net profit margin of 50.8% in TTM through Q2 2026, equivalent to $22.6B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Visa (V) profitable?

Yes. Visa (V) reported $22.6B in net income for TTM through Q2 2026, with a net profit margin of 50.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Visa (V) spend on capital expenditures?

Visa (V) spent $1.57B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 3.5% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Visa (V) generate?

Visa (V) generated $21B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 47.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Visa (V)?

Visa (V) had an effective tax rate of 16.2% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Visa (V)?

Visa (V) reports revenue across 4 reportable product segments, led by Data Processing Revenues at 36.4% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Visa (V) generate most of its revenue?

Non-US is the largest geographic market for Visa (V), accounting for 61.7% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Visa Makes Money: 2026 Visual Revenue Map

Visa (V) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 29, 2026).

Visa (V) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Visa (V), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Data Processing Revenues	$16.2B	36.4%
Service	$13.8B	31.1%
International Transaction Revenues	$10.7B	24.1%
Service, Other	$3.74B	8.4%
Total	$44.5B	100%

Data Processing Revenues$16.2B
Service$13.8B
International Transaction Revenues$10.7B
Service, Other$3.74B
Total$44.5B

Visa (V) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Visa (V), TTM through Q2 2026
Region	Revenue (USD)	% of total
Non-US	$27.4B	61.7%
UNITED STATES	$17B	38.3%
Total	$44.5B	100%

Non-US
UNITED STATES
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Visa (V) reports revenue across 4 reportable product segments; the largest segment was Data Processing Revenues at 36.4%, followed by Service (31.1%) and International Transaction Revenues (24.1%). Geographically, Non-US accounted for 61.7% of revenue, followed by UNITED STATES (38.3%).

Frequently asked questions

Data & methodology

Visa (V) Key Financials

Charts, filings, and peer comparison for every metric

Income Statement

Balance Sheet

Profitability

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees34.1K

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

V Overview

Counters