Stock Analysis on Net
Stock Analysis on Net
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Visa Inc. (NYSE:V)

Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Visa Inc., consolidated income statement

US$ in millions

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12 months ended: Sep 30, 2020 Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016
Net revenues 21,846  22,977  20,609  18,358  15,082 
Personnel (3,785) (3,444) (3,170) (2,628) (2,226)
Marketing (971) (1,105) (988) (922) (869)
Network and processing (727) (721) (686) (620) (538)
Professional fees (408) (454) (446) (409) (389)
Depreciation and amortization (767) (656) (613) (556) (502)
General and administrative (1,096) (1,196) (1,145) (1,060) (796)
Litigation provision (11) (400) (607) (19) (2)
Visa Europe Framework Agreement loss —  —  —  —  (1,877)
Operating expenses (7,765) (7,976) (7,655) (6,214) (7,199)
Operating income 14,081  15,001  12,954  12,144  7,883 
Interest expense, net (516) (533) (612) (563) (427)
Investment income 200  383  470  105  82 
Other 25  33  (6) 8  474 
Investment income and other 225  416  464  113  556 
Non-operating income (expense) (291) (117) (148) (450) 129 
Income before income taxes 13,790  14,884  12,806  11,694  8,012 
Income tax provision (2,924) (2,804) (2,505) (4,995) (2,021)
Net income 10,866  12,080  10,301  6,699  5,991 

Based on: 10-K (filing date: 2020-11-19), 10-K (filing date: 2019-11-14), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-15).

Income statement item Description The company
Net revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Visa Inc.’s net revenues increased from 2018 to 2019 but then slightly decreased from 2019 to 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Visa Inc.’s operating income increased from 2018 to 2019 but then slightly decreased from 2019 to 2020.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Visa Inc.’s income before income taxes increased from 2018 to 2019 but then slightly decreased from 2019 to 2020 not reaching 2018 level.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Visa Inc.’s net income increased from 2018 to 2019 but then slightly decreased from 2019 to 2020 not reaching 2018 level.