Total Asset Turnover
since 2008
Calculation
Visa Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Sep 30, 2022 | 0.34 | = | 29,310) | ÷ | 85,501) |
| Sep 30, 2021 | 0.29 | = | 24,105) | ÷ | 82,896) |
| Sep 30, 2020 | 0.27 | = | 21,846) | ÷ | 80,919) |
| Sep 30, 2019 | 0.32 | = | 22,977) | ÷ | 72,574) |
| Sep 30, 2018 | 0.30 | = | 20,609) | ÷ | 69,225) |
| Sep 30, 2017 | 0.27 | = | 18,358) | ÷ | 67,977) |
| Sep 30, 2016 | 0.24 | = | 15,082) | ÷ | 64,035) |
| Sep 30, 2015 | 0.34 | = | 13,880) | ÷ | 40,236) |
| Sep 30, 2014 | 0.33 | = | 12,702) | ÷ | 38,569) |
| Sep 30, 2013 | 0.33 | = | 11,778) | ÷ | 35,956) |
| Sep 30, 2012 | 0.26 | = | 10,421) | ÷ | 40,013) |
| Sep 30, 2011 | 0.26 | = | 9,188) | ÷ | 34,760) |
| Sep 30, 2010 | 0.24 | = | 8,065) | ÷ | 33,408) |
| Sep 30, 2009 | 0.21 | = | 6,911) | ÷ | 32,281) |
| Sep 30, 2008 | 0.18 | = | 6,263) | ÷ | 34,981) |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30).
1 US$ in millions
A comprehensive analysis of the financial trajectory between 2008 and 2022 reveals a period of significant scaling in both revenue generation and asset accumulation, with a fluctuating but generally improving asset utilization efficiency.
- Net Revenue Growth
- A consistent upward trajectory in net revenues is observed, increasing from 6,263 million USD in 2008 to 29,310 million USD by 2022. This represents a substantial long-term expansion. The only notable exception to this growth pattern occurred in 2020, where revenues declined slightly to 21,846 million USD from 22,977 million USD in the previous year, followed by a strong recovery in 2021 and 2022.
- Total Asset Expansion
- The asset base remained relatively stable between 2008 and 2015, fluctuating within the 32,000 to 40,000 million USD range. A significant structural shift occurred in 2016, where total assets jumped to 64,035 million USD. Following this increase, the asset base continued a steady climb, reaching 85,501 million USD by the end of the period.
- Total Asset Turnover Analysis
- The total asset turnover ratio exhibits three distinct phases. From 2008 to 2015, the ratio improved steadily from 0.18 to 0.34, indicating increasing efficiency in revenue generation per unit of asset. In 2016, the ratio experienced a sharp contraction to 0.24, directly correlating with the substantial increase in total assets. Between 2017 and 2022, the ratio demonstrated a recovery trend, returning to its peak of 0.34. This recovery suggests that revenue growth eventually scaled to match the expanded asset base.
The correlation between the 2016 asset surge and the immediate drop in asset turnover highlights a period of investment or balance sheet expansion that initially diluted efficiency. However, the subsequent return to a 0.34 ratio by 2022 indicates a successful optimization of these assets to drive higher top-line performance.
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Comparison to Competitors
Visa Inc., total asset turnover, long-term trends, comparison to competitors
| Visa Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 30, 2022 | 0.34 | 1.30 | 0.65 | 0.48 | 0.69 | 0.56 | 0.48 | 0.46 | 0.54 | 0.39 | 0.55 | 0.45 | 0.28 | 0.54 | 0.54 | 0.49 |
| Sep 30, 2021 | 0.29 | 1.17 | 0.58 | 0.45 | 0.68 | 0.43 | 0.43 | 0.62 | 0.50 | 0.31 | 0.47 | 0.42 | 0.32 | 0.55 | 0.48 | 0.50 |
| Sep 30, 2020 | 0.27 | 1.20 | 0.53 | — | 0.68 | 0.32 | 0.47 | 0.70 | 0.47 | 0.34 | 0.41 | 0.38 | 0.31 | 0.52 | 0.46 | 0.53 |
| Sep 30, 2019 | 0.32 | 1.45 | 0.54 | — | 0.70 | 0.35 | 0.51 | 1.08 | 0.44 | 0.36 | — | 0.44 | 0.43 | 0.57 | 0.52 | 0.51 |
| Sep 30, 2018 | 0.30 | 1.70 | 0.48 | — | 0.87 | — | 0.65 | 1.15 | 0.43 | 0.29 | — | 0.39 | 0.50 | 0.67 | 0.51 | 0.43 |
| Sep 30, 2017 | 0.27 | 1.62 | 0.50 | — | 0.80 | — | 0.63 | 1.27 | 0.37 | 0.28 | — | 0.51 | 0.48 | 0.57 | 0.50 | 0.50 |
| Sep 30, 2016 | 0.24 | 1.69 | 0.46 | — | 0.87 | — | 0.68 | 1.10 | 0.44 | 0.33 | — | 0.50 | 0.52 | 0.68 | 0.46 | 0.43 |
| Sep 30, 2015 | 0.34 | 1.80 | 0.41 | — | 0.72 | — | 0.74 | 0.84 | 0.53 | 0.34 | — | 0.47 | 0.50 | 0.56 | 0.44 | 0.33 |
| Sep 30, 2014 | 0.33 | 1.78 | 0.38 | — | 0.49 | — | 0.79 | 0.87 | 0.50 | 0.42 | — | 0.40 | 0.44 | 0.48 | 0.43 | 0.22 |
| Sep 30, 2013 | 0.33 | 1.80 | 0.39 | — | 0.60 | — | 0.79 | 0.76 | 0.55 | 0.45 | — | 0.68 | 0.55 | 0.36 | 0.45 | 0.29 |
| Sep 30, 2012 | 0.26 | 1.79 | 0.44 | — | 0.58 | — | 0.88 | 0.89 | 0.61 | 0.47 | — | 0.63 | 0.54 | 0.51 | 0.42 | — |
| Sep 30, 2011 | 0.26 | 1.74 | 0.47 | — | 0.65 | — | 0.92 | 0.75 | 0.64 | 0.48 | — | — | 0.54 | — | 0.46 | — |
| Sep 30, 2010 | 0.24 | 1.80 | 0.47 | — | 0.54 | — | 0.88 | 0.66 | 0.73 | 0.44 | — | — | 0.53 | — | 0.42 | — |
| Sep 30, 2009 | 0.21 | 1.89 | 0.40 | — | 0.60 | — | 0.88 | 0.66 | 0.75 | 0.49 | — | — | 0.73 | — | 0.46 | — |
| Sep 30, 2008 | 0.18 | 2.04 | 0.61 | — | 0.62 | — | 0.95 | 0.66 | 0.83 | 0.47 | — | — | 0.69 | — | 0.49 | — |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30).
Comparison to Sector (Software & Services)
Visa Inc., total asset turnover, long-term trends, comparison to sector (software & services)
| Visa Inc. | Software & Services | |
|---|---|---|
| Sep 30, 2022 | 0.34 | 0.53 |
| Sep 30, 2021 | 0.29 | 0.49 |
| Sep 30, 2020 | 0.27 | 0.48 |
| Sep 30, 2019 | 0.32 | 0.50 |
| Sep 30, 2018 | 0.30 | 0.51 |
| Sep 30, 2017 | 0.27 | 0.47 |
| Sep 30, 2016 | 0.24 | 0.54 |
| Sep 30, 2015 | 0.34 | 0.59 |
| Sep 30, 2014 | 0.33 | 0.61 |
| Sep 30, 2013 | 0.33 | 0.66 |
| Sep 30, 2012 | 0.26 | 0.72 |
| Sep 30, 2011 | 0.26 | 0.75 |
| Sep 30, 2010 | 0.24 | 0.76 |
| Sep 30, 2009 | 0.21 | 0.79 |
| Sep 30, 2008 | 0.18 | 0.86 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30).
Comparison to Industry (Information Technology)
Visa Inc., total asset turnover, long-term trends, comparison to industry (information technology)
| Visa Inc. | Information Technology | |
|---|---|---|
| Sep 30, 2022 | 0.34 | 0.64 |
| Sep 30, 2021 | 0.29 | 0.62 |
| Sep 30, 2020 | 0.27 | 0.58 |
| Sep 30, 2019 | 0.32 | 0.59 |
| Sep 30, 2018 | 0.30 | 0.59 |
| Sep 30, 2017 | 0.27 | 0.51 |
| Sep 30, 2016 | 0.24 | 0.55 |
| Sep 30, 2015 | 0.34 | 0.63 |
| Sep 30, 2014 | 0.33 | 0.64 |
| Sep 30, 2013 | 0.33 | 0.66 |
| Sep 30, 2012 | 0.26 | 0.70 |
| Sep 30, 2011 | 0.26 | 0.73 |
| Sep 30, 2010 | 0.24 | 0.72 |
| Sep 30, 2009 | 0.21 | 0.69 |
| Sep 30, 2008 | 0.18 | 0.79 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30).