Filing Flows › Visa (V) › Q3 FY26 › vs Q3 FY25
Visa (V) Q3 FY26 vs Q3 FY25 (year over year)
Visa's revenue rose $1.5B (+14%) from $10.2B in Q3 FY25 to $11.6B in Q3 FY26. Operating margin 59.1% against 60.7% (-1.6 pts).
Visa, Q3 FY26: revenue $11.6B (+14% year over year), operating margin 59.1%, net earnings $5.6B, operating cash flow $6.6B. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Operating margin | 59.1% | 60.7% | -1.6 pts |
| Net margin | 48.4% | 51.8% | -3.4 pts |
| Free cash flow margin | 52.8% | 62.0% | -9.3 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $11.6B | $10.2B | $1.5B | +14% |
| Operating profit | $6.9B | $6.2B | $700M | +11% |
| Costs & expenses | $4.8B | $4.0B | $761M | +19% |
| Pre-tax earnings | $6.8B | $6.3B | $500M | +8% |
| Other expense, net | $44.0M | −$156M | $200M | — |
| Sales & marketing | $649M | $421M | $228M | +54% |
| General & admin | $503M | $482M | $21.0M | +4% |
| Other operating costs | $3.6B | $3.1B | $512M | +17% |
| Net earnings | $5.6B | $5.3B | $356M | +7% |
| Income tax | $1.2B | $1.1B | $144M | +14% |
| Depreciation & amortization | $367M | $317M | $50.0M | +16% |
| Share-based compensation | $222M | $223M | −$1.0M | -0.4% |
| Working capital & other | $337M | $918M | −$581M | -63% |
| Operating cash flow | $6.6B | $6.7B | −$176M | -3% |
| Free cash flow (OCF − capex) | $6.1B | $6.3B | −$172M | -3% |
| Capital expenditures | $417M | $421M | −$4.0M | -1% |
Questions
How much did Visa's revenue grow year over year in Q3 FY26?
Visa's revenue rose $1.5B (+14%) from $10.2B in Q3 FY25 to $11.6B in Q3 FY26. Operating margin 59.1% against 60.7% (-1.6 pts).