V · Technology · FY2025 filings · · not refreshed in 36 days · Not rated ·
Not rated
We don't have enough comparable filing data to score at least four of the five filters for V, so we don't publish a composite. Missing: businessTrend, pricingPower. No composite: 2 components abstained (businessTrend: Fewer than two aligned fiscal years of revenue and diluted EPS are available; the filing history does not contain a measurable trend.; pricingPower: Not enough years of gross-margin data to score pricing power.).
Across the filed record, revenue grew from $3.6B (FY2007) to $40.0B (FY2025) — about 14.3% a year compounded over 18 years.
It earned 43.3% on invested capital in the latest filed year, FY2025. Across the full 18-year measurable filed record, median ROIC was 26.5%. Over the v3 recent window (10 measurable filed years), median ROIC was 40.3%. The Returns on Capital filter above scores it 100/100.
The balance sheet carried $25.2B of total debt in FY2025 against $20.1B of owner earnings — roughly 1.3 years of owner earnings to retire it all. Balance-Sheet Safety scores it 96/100.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Not disclosed in V’s filings for these years — we don’t estimate it.
Gaps in a line mean that item isn’t in V’s filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Flagship explainer
VISA INC.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $40.0B | 100% |
| |
| $24.0B | 60% |
| |
| Income before tax | $24.2B | 60% |
|
| Income tax | $4.1B | 10% |
|
| $20.1B | 50% |
|
Flagship explainer
VISA INC.'s filing tags don't support a full breakdown — here's what is filed:
| Filed line | Value | % of assets | Source |
|---|---|---|---|
| Total assets | $99.6B | 100% |
|
| Cash and equivalents | $17.2B | 17% |
|
| $25.2B | 25% |
| |
| Stockholders’ equity | $37.9B | 38% |
|
Flagship explainer
ROE is five filed business factors multiplied together.
| Input | Value | Fiscal year | Source |
|---|---|---|---|
| $20.1B | FY2025 |
| |
| Income before tax | $24.2B | FY2025 |
|
| Operating income | $24.0B | FY2025 |
|
| $40.0B | FY2025 |
| |
| Ending assets | $99.6B | FY2025 |
|
| Beginning assets | $94.5B | FY2024 |
|
| $37.9B | FY2025 |
| |
| $39.1B | FY2024 |
|
Flagship explainer
VISA INC.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:
| Filed line | Value | % of cash from operations | Source |
|---|---|---|---|
| Cash from operations | $23.1B | 100% |
|
| Depreciation and amortization | $1.2B | 5% |
|
Curated 19-manager tier
Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.
1 holding0 exited0 not holding1/19 resolved18 not retrieved
| Manager | Reported position | Quarter-over-quarter | Filing accession |
|---|---|---|---|
| Markel / Markel-Gayner | 1,013,912 shares$348M · 3% of eligible reported 13F | Added to position · +9,581 shares (1%) |
|
| Abrams Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Akre Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Baupost Group | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Berkshire Hathaway | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Brave Warrior Advisors | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Dodge & Cox | Not retrieved | Comparison not retrieved | Filing not retrieved |
| First Eagle | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Fundsmith | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gardner Russo & Quinn | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gates Foundation Trust | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Mairs & Power | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Oakmark / Harris Associates | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Pershing Square | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Polen Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Sequoia / Ruane Cunniff | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Southeastern Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Tweedy, Browne | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Yacktman Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
Flagship explainer
Records still being gathered — partial as of retrieval Aug 31, 2026.
Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.
No composite readings yet — V’s filings don’t give the engine enough comparable data to score, and we log that honestly instead of guessing a number.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Aug 31, 2026.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (9 versus 2). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
| Insider | Shares owned after | Date | Filing detail | ||||
|---|---|---|---|---|---|---|---|
| Taneja RajatPRESIDENT, TECHNOLOGY | Open-market or private sale (S)Table I · Disposed · Class A Common Stock | 17,927 | $370.9968 | $6,650,860 | 232,112 | Aug 21, 2026 | 1 filed lot
|
| MCINERNEY RYANDirector, Chief Executive Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event | 5,875 | $134.76 | $791,715 | 21,049 | Aug 21, 2026 | 1 filed lot
|
| MCINERNEY RYANDirector, Chief Executive Officer | Open-market or private sale (S)Table I · Disposed · Class A Common Stock | 5,875 | $367.87 | $2,161,236 | 15,174 | Aug 21, 2026 | 1 filed lot
|
| MCINERNEY RYANDirector, Chief Executive Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Employee Stock Option (Right to Buy) · 1 paired event | 5,875 | —Exercise or conversion of derivative security (M) | — | 64,624 | Aug 21, 2026 | 1 filed lot
|
| ANDRESKI PETER MGBL CORP CONTROLLER, CAO | Exercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event | 4,170 | Not disclosed | Not disclosed | 11,952 | Aug 15, 2026 | 1 filed lot
|
| ANDRESKI PETER MGBL CORP CONTROLLER, CAO | Payment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock | 1,714 | $364.15 | $624,153 | 10,238 | Aug 15, 2026 | 1 filed lot
|
| ANDRESKI PETER MGBL CORP CONTROLLER, CAO | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event | 4,170 | Not disclosed | Not disclosed | 0 | Aug 15, 2026 | 1 filed lot
|
| ANDRESKI PETER MGBL CORP CONTROLLER, CAO | Grant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Units | 5,492 | —Grant, award, or other acquisition (A) | — | 5,492 | Aug 15, 2026 | 1 filed lot
|
| Suh ChrisCHIEF FINANCIAL OFFICER | Exercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event | 15,289 | Not disclosed | Not disclosed | 25,161 | Aug 15, 2026 | 1 filed lot
|
| Suh ChrisCHIEF FINANCIAL OFFICER | Payment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock | 6,992 | $364.15 | $2,546,137 | 18,169 | Aug 15, 2026 | 1 filed lot
|
| Suh ChrisCHIEF FINANCIAL OFFICER | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Units · 1 paired event | 15,289 | Not disclosed | Not disclosed | 0 | Aug 15, 2026 | 1 filed lot
|
Source-event as of . Retrieved .
How VISA INC.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored V on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The indexed price path isn't available for this company yet; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
In the reconstructed history shown, V did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Not ranked — V doesn’t have enough comparable filing data for a composite score, so we don’t place it on the board.