Filing Flows › Visa (V) › Q4 FY25
Visa (V) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 6, 2025
Visa (V) reported revenue of $10.7B for the fourth quarter fiscal 2025 (Q4 FY25), +12% from a year earlier and +5% from the quarter before. Operating margin was 57.3%, net earnings $5.1B (47.5% of revenue).
Visa, Q4 FY25: revenue $10.7B (+12% year over year), operating margin 57.3%, net earnings $5.1B, operating cash flow $6.2B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.7B | +5% | +12% |
| Operating profit | $6.1B | -0.5% | -3% |
| Net earnings | $5.1B | -3% | -4% |
| Operating cash flow | $6.2B | -7% | -6% |
| Free cash flow | $5.8B | -7% | -8% |
What changed
Revenue was $10.7B in Q4 FY25, up 12% year over year and up 5% from the previous quarter.
Operating profit was $6.1B, a 57.3% margin (down 8.7 points year over year). Operating profit fell $0.20B even though revenue rose $1.1B versus a year earlier, so costs grew faster than sales. Total costs grew 40% against revenue growth of 12%. The fastest-growing cost line was Other operating costs (+51%). Net earnings were $5.1B, down 4% year over year. The effective tax rate was 18.2%.
Operating cash flow was $6.2B (down 6% year over year), 123% of net earnings. Non-cash charges added back $0.32B of depreciation and amortization and $0.19B of share-based compensation. Working capital and other items added $0.64B. Capital expenditures of $0.39B left free cash flow of $5.8B.
Questions
What was Visa's revenue in the fourth quarter fiscal 2025?
Visa (V) reported revenue of $10.7B for the fourth quarter fiscal 2025 (Q4 FY25), +12% from a year earlier and +5% from the quarter before.
Was Visa profitable in the fourth quarter fiscal 2025?
Operating profit was $6.1B (57.3% of revenue) and net earnings $5.1B.
Source: Visa 10-K on SEC EDGAR.