Stock Analysis on Net
Stock Analysis on Net

Visa Inc. (NYSE:V)

This company has been moved to the archive! The financial data has not been updated since April 27, 2023.

Common-Size Balance Sheet: Assets 
Quarterly Data

Visa Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016
Cash and cash equivalents 15.96 15.62 18.35 16.45 15.03 17.97 19.89 21.81 20.57 18.69 20.13 17.84 13.38 11.72 10.80 11.26 10.95 11.57 11.79 12.48 11.79 12.12 14.53 11.62 10.16 9.19
Restricted cash equivalents, U.S. litigation escrow 1.86 2.00 1.69 1.74 1.08 1.40 1.08 1.08 1.11 1.11 1.11 1.47 1.74 2.19 1.66 1.28 1.29 2.09 2.15 2.18 1.28 1.31 1.52 1.61 1.63 1.62
Investment securities 3.17 3.26 3.31 3.87 1.50 1.47 2.44 1.46 2.57 3.74 4.64 3.52 3.31 5.22 5.84 4.65 5.55 4.83 5.12 4.98 5.18 5.08 5.24 4.30 2.36 5.83
Settlement receivable 2.24 2.49 2.26 2.18 1.99 2.18 2.12 2.01 1.79 1.98 1.56 2.71 1.97 4.38 4.20 2.40 2.25 4.36 2.29 2.37 3.62 2.41 2.09 2.22 5.30 2.10
Accounts receivable 2.45 2.47 2.36 2.37 2.61 2.65 2.37 2.24 2.23 2.17 2.00 1.87 2.08 2.22 2.12 2.18 2.01 1.96 1.75 1.79 1.82 1.91 1.67 1.73 1.71 1.77
Customer collateral 3.16 3.03 2.74 2.65 2.82 2.79 2.73 2.69 2.56 2.48 2.29 2.26 2.33 2.27 2.27 2.37 2.48 1.86 1.91 1.97 1.81 1.72 1.63 1.68 1.65 1.59
Current portion of client incentives 1.70 1.64 1.49 1.55 1.60 1.63 1.64 1.60 1.65 1.59 1.50 1.48 1.31 1.07 1.02 0.98 0.84 0.76 0.49 0.55 0.48 0.44 0.51 0.48 0.46 0.42
Prepaid expenses and other current assets 2.50 2.11 3.12 3.12 2.81 1.55 1.03 1.03 1.06 0.91 0.94 0.97 1.22 0.78 0.98 0.92 1.09 0.64 0.81 0.80 0.86 0.75 0.81 0.92 1.25 0.66
Current assets 33.03% 32.63% 35.33% 33.92% 29.45% 31.62% 33.30% 33.92% 33.54% 32.68% 34.16% 32.11% 27.34% 29.85% 28.89% 26.06% 26.47% 28.06% 26.31% 27.12% 26.85% 25.74% 27.98% 24.56% 24.52% 23.18%
Investment securities 3.27 3.20 2.50 2.62 2.81 2.55 2.06 1.34 0.14 0.20 0.29 0.70 1.46 2.30 2.97 4.15 5.02 5.77 5.90 4.16 3.77 3.98 2.83 3.31 4.56 6.00
Client incentives 4.31 4.28 3.92 3.89 3.98 4.02 3.91 3.89 4.06 3.97 3.92 4.07 4.27 3.32 2.87 2.64 2.38 1.76 0.78 0.80 0.82 0.83 0.87 0.86 0.77 0.76
Property, equipment and technology, net 3.87 3.79 3.77 3.68 3.81 3.55 3.28 3.27 3.35 3.37 3.38 3.53 3.81 3.66 3.71 3.63 3.52 3.40 3.57 3.50 3.43 3.33 3.31 3.44 3.37 3.47
Goodwill 20.84 21.11 20.80 21.05 22.18 20.21 19.25 19.38 19.93 20.04 19.66 20.28 21.64 21.08 21.57 21.80 21.60 21.14 21.95 22.30 22.26 22.58 22.23 23.45 23.45 23.50
Intangible assets, net 30.63 30.81 29.32 30.55 33.01 33.29 33.37 33.90 34.69 35.55 34.37 34.91 37.09 36.29 36.90 38.82 38.60 38.10 39.81 40.53 41.33 41.86 40.97 42.69 41.78 41.63
Other assets 4.05 4.18 4.37 4.29 4.76 4.77 4.83 4.29 4.30 4.19 4.22 4.41 4.39 3.50 3.08 2.90 2.43 1.77 1.68 1.59 1.54 1.68 1.80 1.69 1.55 1.45
Non-current asset 66.97% 67.37% 64.67% 66.08% 70.55% 68.38% 66.70% 66.08% 66.46% 67.32% 65.84% 67.89% 72.66% 70.15% 71.11% 73.94% 73.53% 71.94% 73.69% 72.88% 73.15% 74.26% 72.02% 75.44% 75.48% 76.82%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets increased notably from the beginning of 2017, rising from 9.19% to a peak around 20.57% in early 2021. This was followed by a mild decline stabilizing around 15.6% to 16% in early 2023, indicating a conservative liquidity buffer with higher cash reserves during the pandemic period, subsequently moderating.
Restricted cash equivalents, U.S. litigation escrow
This category showed fluctuations, starting at about 1.6%, peaking above 2.18% in mid-2018, and generally declining towards 1.1% to 1.4% afterward, with a minor increase by early 2023. The trend suggests periodic adjustments, possibly linked to litigation settlements and reserves.
Investment securities (current)
Investment securities as a percentage of total assets demonstrated volatility. The values oscillated around 3% to 5%, with an overall decline to near 0.2% in late 2020, followed by recovery rising to around 3.2%-3.3% approaching 2023. This indicates shifts in investment strategy or market conditions affecting the portfolio composition.
Settlement receivable
This asset showed cyclical variations between approximately 1.5% and 4.5%, with peaks in late 2018 and late 2019. The fluctuations imply variability in transaction settlements, possibly tied to business volumes or timing of payment flows.
Accounts receivable
Accounts receivable steadily increased over the period, growing from about 1.7% of assets in early 2017 to nearly 2.5% by early 2023. The consistent upward trend reflects potentially growing receivables correlated with increasing transaction volumes or credit terms extension.
Customer collateral
Customer collateral gradually rose from 1.59% to over 3% from 2016 through early 2023. The steady increase suggests enhanced client activity or collateral requirements, indicating growth in secured engagements or customer base expansion.
Current portion of client incentives
The current portion of client incentives increased progressively, nearly doubling from under 0.5% in early 2017 to around 1.7% by 2023. This pattern indicates escalating promotional or incentive activities aimed at client retention or growth.
Prepaid expenses and other current assets
These assets fluctuated, initially remaining below 1%, then experiencing sharp increases into the 2%-3% range after early 2021, peaking around 3.1%. This rise could imply growing prepaid operational costs or changes in asset classification.
Current assets
Current assets as a portion of total assets exhibited an overall upward trend from about 23% to over 33%, with some volatility. The increased share of current assets might correspond with greater liquidity preferences or expanded short-term asset holdings.
Client incentives (non-current)
Non-current client incentives rose steadily from roughly 0.8% to over 4.3%, suggesting long-term incentive structures becoming more significant in asset composition, underscoring strategic focus on sustained client relationships.
Property, equipment and technology, net
This category maintained relative stability, fluctuating modestly around 3.3% to 3.9%. The near-constant profile highlights a steady investment in fixed assets supporting operations without major fluctuations.
Goodwill
Goodwill remained a substantial portion of assets, declining slightly from 23.5% to around 20.8%, with some variability. The gradual decrease may reflect asset impairments or write-downs, yet it remains a significant intangible asset component.
Intangible assets, net
Intangible assets showed a slow but consistent decline from approximately 42% to 30.6%. This downward trend points to amortization or impairment effects, indicating the aging or reduced valuation of acquired intangible resources.
Other assets
Other assets steadily increased from about 1.5% to nearly 4%, implying growing miscellaneous or non-core asset classes contributing to the overall asset base.
Non-current assets
Non-current assets decreased as a proportion of total assets from nearly 77% early on to around 67% by 2023. This shift away from long-term assets toward greater current assets suggests a strategic rebalancing favoring liquidity or short-term asset concentration.
Total assets
The total assets ratio remains constant at 100% by definition, providing a fixed reference for analyzing the relative changes in asset composition described above.