For the quarter ending 2025-12-31, V had -$1,811M decrease in cash & cash equivalents over the period. $6,402M in free cash flow.
| Cash Flow | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 |
|---|---|---|---|---|
| Net income | 5,853 | 5,090 | 5,272 | 4,577 |
| Client incentives | 4,269 | 4,248 | 3,972 | 3,734 |
| Share-based compensation | 231 | 191 | 223 | 259 |
| Depreciation and amortization | 326 | 316 | 317 | 305 |
| Deferred income taxes | -435 | -195 | 433 | -124 |
| Ve territory covered losses | -3 | -1 | 2 | -24 |
| (gains) losses on equity investments, net | -7 | 46 | -35 | -23 |
| Other | -18 | -24 | -5 | -9 |
| Settlement receivable | -981 | -585 | 343 | 525 |
| Accounts receivable | 109 | 208 | 178 | 92 |
| Client incentives | 3,808 | 4,061 | 4,063 | 3,541 |
| Other assets | -35 | -178 | -382 | 390 |
| Accounts payable | -114 | 81 | 31 | 9 |
| Settlement payable | -233 | -1,466 | 774 | 518 |
| Accrued and other liabilities | -611 | 826 | -403 | -493 |
| Accrued litigation | 373 | 681 | 271 | 423 |
| Net cash provided by (used in) operating activities | 6,780 | 6,238 | 6,730 | 4,695 |
| Purchases of property, equipment and technology | 378 | 389 | 421 | 327 |
| Purchases of investment securities | - | 0 | 0 | 0 |
| Proceeds from maturities and sales of investment securities | 725 | 556 | 200 | 226 |
| Acquisitions, net of cash and restricted cash acquired | 0 | 0 | 0 | -19 |
| Purchases of other investments | 5 | 27 | 17 | 18 |
| Proceeds from settlement of derivative instruments | - | 0 | - | - |
| Other investing activities | -19 | -164 | 18 | 30 |
| Net cash provided by (used in) investing activities | 361 | 304 | -256 | -130 |
| Repurchases of class a common stock | 3,725 | 4,927 | 4,782 | 4,596 |
| Repayments of debt | 4,000 | 0 | - | - |
| Dividends paid | 1,293 | 1,146 | 1,154 | 1,164 |
| Proceeds from issuance of senior notes | - | 0 | 3,924 | - |
| Proceeds from stock issued under equity plans | 78 | 55 | 95 | 119 |
| Taxes paid related to stock issued under equity plans | 231 | 27 | 12 | 7 |
| Other financing activities | 185 | 45 | 101 | -12 |
| Net cash provided by (used in) financing activities | -8,986 | -6,000 | -1,828 | -5,660 |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | 34 | 4 | 659 | 265 |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | -1,811 | 546 | 5,305 | -830 |
| Cash and cash equivalents at beginning of period | - | 24,441 | 19,136 | 19,966 |
| Cash and cash equivalents at end of period | 23,176 | 24,987 | 24,441 | 19,136 |
VISA INC. (V)
VISA INC. (V)