Year-end financial highlights

Fiscal Year 2022 Key Statistics

Operational Highlights 12 months ended September 30 (except where noted)

2020 2021 2022
Total volume, including payments and cash volume2 $11.3T $13.0T $14.1T
Payments volume2 $8.8T $10.4T $11.6T
Transactions processed on Visa’s networks 140.8B 164.7B 192.5B
Cards3 3.5B 3.7B 4.1B
Financial Highlights (GAAP) In millions (except per share data)

FY 2020 FY 2021 FY 2022
Net revenues $21,846 $24,105 $29,310
Operating expenses $7,765 $8,301 $10,497
Net income $10,866 $12,311 $14,957
Diluted class A common stock earnings per share $4.89 $5.63 $7.00
Financial Highlights (Non-GAAP)4 In millions (except per share data)

FY 2020 FY 2021 FY 2022
Net revenues $21,846 $24,105 $29,310
Operating expenses $7,702 $8,077 $9,387
Net income $11,193 $12,933 $16,034
Diluted class A common stock earnings per share $5.04 $5.91 $7.50

Stock Performance

The accompanying graph and chart compares the cumulative total return on Visa’s common stock with the cumulative total return on Standard & Poor’s 500 Index and the Standard & Poor’s 500 Data Processing Index from September 30, 2017 through September 30, 2022. The comparison assumes $100 was invested on September 30, 2017, and that dividends were reinvested. Visa Inc.’s class B and C common stock are not publicly traded or listed on any exchange or dealer quotation system.

Base period Indexed Returns (Fiscal Year Ended)
Company/Index 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 9/30/22
Visa Inc. $100 $144 $166 $194 $217 $174
S&P 500 Index $100 $118 $123 $142 $184 $156
S&P 500 Data Processing Index $100 $142 $166 $203 $229 $165

Revenue Details

Net revenues consist of service revenues, data processing revenues, international transaction revenues and other revenues, minus client incentive arrangements we have with our clients. We have one reportable segment, which is Payment Services.

Visa Revenue Details
1.

Please see Item 7–Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Form 10-K for a reconciliation of our GAAP to non-GAAP financial results.

2.

Total volume is the sum of payments volume and cash volume. Payments volume represents the aggregate dollar amount of purchases made with cards and other form factors carrying the Visa, Visa Electron, V PAY and Interlink brands and excludes Europe co-badged volume. Cash volume generally consists of cash access transactions, balance access transactions, balance transfers and convenience checks. For further discussion, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations - Overview - Payments volume and processed transactions in this Annual Report.

3.

These figures represent data at June 30, 2020, June 30, 2021 and June 30, 2022.

4.

For further discussion and a reconciliation of our GAAP to non-GAAP financial measures presented, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations - Overview - Non-GAAP financial results in this Annual Report.