Stock Analysis on Net
Stock Analysis on Net

Visa Inc. (NYSE:V)

$22.49

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

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Visa Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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
Net income
Client incentives
Share-based compensation
Depreciation and amortization of property, equipment, technology and intangible assets
Deferred income taxes
VE territory covered losses incurred
(Gains) losses on equity investments, net
Charitable contribution of Visa Inc. shares
Other
Settlement receivable
Accounts receivable
Client incentives
Other assets
Accounts payable
Settlement payable
Accrued and other liabilities
Accrued litigation
Change in operating assets and liabilities
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Purchases of property, equipment and technology
Investment securities, purchases
Investment securities, proceeds from maturities and sales
Acquisitions, net of cash and restricted cash acquired
Purchases of other investments
Settlement of derivative instruments
Other investing activities
Net cash (used in) provided by investing activities
Repurchase of class A common stock
Repayments of debt
Dividends paid
Proceeds from issuance of senior notes
Payment of deferred purchase consideration related to the Visa Europe acquisition
Proceeds from issuance (repayments) of commercial paper
Debt issuance costs
Deposit into U.S. litigation escrow account, U.S. retrospective responsibility plan
Payments from U.S. litigation escrow account, U.S. retrospective responsibility plan
Cash proceeds from issuance of class A common stock under equity plans
Restricted stock and performance-based shares settled in cash for taxes
Payments to settle derivative instruments
Other financing activities
Net cash used in financing activities
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents

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).

Net Income
Net income exhibits significant fluctuations throughout the periods, with initial low quarters such as March 31, 2017 (430 million USD) followed by a substantial rebound and growth peaking near the end of 2021 and into early 2023, achieving above 4 billion USD. A notable dip occurs during mid-2020 coinciding with global economic disruptions, followed by a strong recovery crescendoing in late 2021.
Client Incentives
Client incentives steadily increased from late 2016 through 2022, rising from just over 1 billion USD to peaks exceeding 2.8 billion USD by early 2023. Despite volatility, there is a clear upward trajectory indicating growing customer-related expenses.
Share-Based Compensation
This expense steadily grew over the examined timeline, with a marked acceleration from 2019 onward, escalating from around 100 million USD to over 220 million USD by early 2023, suggesting increasing compensation costs possibly aligned with retention or performance strategies.
Depreciation and Amortization
The depreciation and amortization costs gradually increased from about 130 million USD in early periods to roughly 230 million USD by 2023, reflecting continuous investments in assets and technology, consistent with a growth-oriented capital expenditure policy.
Deferred Income Taxes
Deferred income taxes display volatile movements, with large swings between positive and negative amounts, suggesting complex tax position adjustments over time with no clear long-term trend.
Operating Activities
Net cash provided by operating activities shows strong variability, peaking multiple times especially around late 2019 and into 2022 with amounts frequently exceeding 4 billion USD. There was a dip in mid-2020 concurrent with other pandemic related impacts. Overall, operational cash flow remains solid and generally upward trending.
Investing Activities
Net cash used in investing activities alternates between outflows and inflows, reflecting tactical investment decisions including acquisitions and purchases of securities. Periods of heavy outflows often align with purchases of investment securities and property while inflow spikes coincide with asset disposals or maturity proceeds.
Financing Activities
Net cash used in financing activities is largely negative across the timeline, dominated by substantial share repurchases and consistent dividend payments. Repurchase activity intensified notably between 2019 and 2022, reaching highs over 4 billion USD in single quarters. Debt servicing also influences cash flows with repayments and occasional issuances visible. There is a significant negative spike in financing cash flows during late 2017 and again in 2022-2023, reflecting aggressive capital return policies.
Accounts and Settlements
Settlement receivables and payables demonstrate considerable volatility, indicating fluctuating timing or volume of transactional settlements. Accounts receivable and payable show inconsistent changes without a definitive trend, highlighting variability in operational working capital.
Overall Cash Position Changes
The net increase or decrease in cash and cash equivalents is irregular, with wide range swings between positive and negative flows. Noteworthy cash surges occurred mid-2017 and late 2020, while sharp declines are visible during late 2018 and parts of 2021, likely reflecting combined effects of operating, investing, and financing cash flows along with market developments and strategic activities.
Other Financial Elements
Adjustments, other assets, liabilities, and various miscellaneous financial items exhibit episodic volatility reflecting diverse internal and external financial activities. Notably, charitable contribution and litigation escrow movements appear sporadic but limited to specific periods, likely related to one-time or non-recurring events.