VISA INC. Earnings Per Share Disclosure
For the Year Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||
| Basic Earnings Per Share | Diluted Earnings Per Share | ||||||||||||||||||||||||||||||||||
Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | ||||||||||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||||||||||||||
| Class A common stock | $ | 17,511 | 1,714 | $ | 10.22 | $ | 20,058 | (3) | 1,966 | (3) | $ | 10.20 | |||||||||||||||||||||||
| Class B-1 common stock | 77 | 5 | $ | 15.97 | $ | 77 | 5 | $ | 15.95 | ||||||||||||||||||||||||||
Class B-2 common stock(4) | 1,891 | 120 | $ | 15.72 | $ | 1,889 | 120 | $ | 15.70 | ||||||||||||||||||||||||||
| Class C common stock | 374 | 9 | $ | 40.87 | $ | 373 | 9 | $ | 40.82 | ||||||||||||||||||||||||||
| Participating securities | 205 | Not presented | Not presented | $ | 204 | Not presented | Not presented | ||||||||||||||||||||||||||||
| Net income | $ | 20,058 | |||||||||||||||||||||||||||||||||
For the Year Ended September 30, 2024 | |||||||||||||||||||||||||||||||||||
| Basic Earnings Per Share | Diluted Earnings Per Share | ||||||||||||||||||||||||||||||||||
Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | ||||||||||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||||||||||||||
| Class A common stock | $ | 15,790 | 1,621 | $ | 9.74 | $ | 19,743 | (3) | 2,029 | (3) | $ | 9.73 | |||||||||||||||||||||||
| Class B-1 common stock | 2,292 | 148 | $ | 15.46 | $ | 2,289 | 148 | $ | 15.45 | ||||||||||||||||||||||||||
Class B-2 common stock(4) | 752 | 49 | $ | 15.45 | $ | 751 | 49 | $ | 15.43 | ||||||||||||||||||||||||||
| Class C common stock | 623 | 16 | $ | 38.97 | $ | 623 | 16 | $ | 38.92 | ||||||||||||||||||||||||||
| Participating securities | 286 | Not presented | Not presented | $ | 286 | Not presented | Not presented | ||||||||||||||||||||||||||||
| Net income | $ | 19,743 | |||||||||||||||||||||||||||||||||
For the Year Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||
| Basic Earnings Per Share | Diluted Earnings Per Share | ||||||||||||||||||||||||||||||||||
Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | Income Allocation (A)(1) | Weighted- Average Shares Outstanding (B) | Earnings per Share = (A)/(B)(2) | ||||||||||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||||||||||||||
| Class A common stock | $ | 13,415 | 1,618 | $ | 8.29 | $ | 17,273 | (3) | 2,085 | (3) | $ | 8.28 | |||||||||||||||||||||||
| Class B-1 common stock | 3,254 | 245 | $ | 13.26 | $ | 3,251 | 245 | $ | 13.24 | ||||||||||||||||||||||||||
| Class C common stock | 320 | 10 | $ | 33.17 | $ | 319 | 10 | $ | 33.13 | ||||||||||||||||||||||||||
| Participating securities | 284 | Not presented | Not presented | $ | 284 | Not presented | Not presented | ||||||||||||||||||||||||||||
| Net income | $ | 17,273 | |||||||||||||||||||||||||||||||||
For the Years Ended September 30, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
(in millions) | |||||||||||||||||
Class B-1 common stock | 8 | 235 | 392 | ||||||||||||||
Class B-2 common stock(1) | 185 | 77 | — | ||||||||||||||
Class C common stock | 37 | 64 | 39 | ||||||||||||||
Participating securities | 20 | 29 | 34 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 6, 2025 | Showing above |
| 2024 | Nov 13, 2024 | |
| 2023 | Nov 15, 2023 | |
| 2022 | Nov 16, 2022 | |
| 2021 | Nov 18, 2021 | |
| 2020 | Nov 19, 2020 | |
| 2019 | Nov 14, 2019 | |
| 2018 | Nov 16, 2018 | |
| 2017 | Nov 17, 2017 | |
| 2016 | Nov 15, 2016 | |
| 2015 | Nov 20, 2015 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.