VISA INC. (V) closed fiscal year 2025 with a gross margin of 80.4 % and a net margin of 50.1 %.
VISA INC. (V) closed fiscal year 2025 with a gross margin of 80.4 % and a net margin of 50.1 %. The same year shows an EBITDA margin of 63.0 % and an EBIT margin of 60.0 %. The free cash flow margin was 53.9 %. Against the previous year the gross margin moved −0.0 pp and the net margin −4.8 pp. Across the period the gross margin ranges between 79.9 % in 2023 and 80.4 % in 2022. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: September
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 80.44 % | 79.89 % | 80.40 % | 80.36 % |
| EBITDA margin (%) | -36.85 % | 23.46 % | 54.46 % | 60.19 % | 62.52 % | 23.72 % | 64.83 % | 64.02 % | 68.86 % | 55.60 % | 69.18 % | 65.83 % | 68.14 % | 67.97 % | 68.90 % | 67.12 % | 67.20 % | 68.55 % | 63.04 % |
| EBIT margin (%) | -40.36 % | 19.67 % | 51.19 % | 56.90 % | 59.38 % | 20.53 % | 61.46 % | 60.60 % | 65.30 % | 52.27 % | 66.15 % | 62.86 % | 65.29 % | 64.46 % | 65.56 % | 64.19 % | 64.31 % | 65.68 % | 59.99 % |
| Net margin (%) | -29.97 % | 12.84 % | 34.05 % | 36.78 % | 39.73 % | 20.57 % | 42.28 % | 42.81 % | 45.59 % | 39.72 % | 36.49 % | 49.98 % | 52.57 % | 49.74 % | 51.07 % | 51.03 % | 52.90 % | 54.95 % | 50.14 % |
| FCF margin (%) | 9.61 % | 1.85 % | 3.65 % | 30.38 % | 38.30 % | 44.46 % | 21.66 % | 52.37 % | 44.45 % | 33.49 % | 46.90 % | 59.31 % | 52.35 % | 44.42 % | 60.24 % | 61.00 % | 60.32 % | 52.03 % | 53.94 % |
