Visa (V) Operating Expenses (2009 - 2026)
Visa's Operating Expenses came in at $4.76 billion for fiscal Q3 2026 (quarter ended Jun 30, 2026), up 19.0% from $4 billion a year earlier and up 19.0% from the prior quarter.
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Analysis
Visa (V) Operating Expenses (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Visa reported Operating Expenses of $17.49 billion, up 19.0% year-over-year; for FY2025 (ended Sep 30, 2025), it was $16.01 billion, up 29.8% from FY2024.
- Operating Expenses has increased in each of the last five fiscal years, with a five-year compound annual growth rate of 15.6% (FY2020 to FY2025).
- Going back by fiscal year, Operating Expenses was $12.33 billion in FY2024 (+5.8%), $11.65 billion in FY2023 (+11.0%), $10.5 billion in FY2022 (+26.5%) and $8.3 billion in FY2021 (+6.9%).
- The fiscal Q3 2026 figure represents the highest quarterly Operating Expenses since fiscal Q3 2012.
- Year-over-year, Operating Expenses increased in seven of the last eight quarters, with growth averaging 21.0%.
- The fastest year-over-year change in Operating Expenses over five years came in fiscal Q3 2022 (growth of 51.4%), and the weakest in fiscal Q1 2024 (a decline of 5.8%).
- Business Quant data shows V's Operating Expenses at $4 billion (Q2 2026), $4.16 billion (Q1 2026) and $4.58 billion (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 687.36 Bn | 630.68 Bn | - | 4.76 Bn |
| 2 | Mastercard | 513.04 Bn | 472.96 Bn | - | 3.69 Bn |
| 3 | Wise | 14.65 Bn | 14.65 Bn | - | - |
| 4 | Remitly Global | 5.11 Bn | 2.76 Bn | 307.34 Mn | 428.48 Mn |
| 5 | Western Union | 1.91 Bn | -2.11 Bn | 336.50 Mn | 881.10 Mn |
| 6 | International Money Express | 382.67 Mn | -237.48 Mn | - | 122.41 Mn |
| 7 | Currenc | 167.21 Mn | -59.72 Mn | 3.70 Mn | -22.77 Mn |
| 8 | Sentage Holdings | 4.88 Mn | 4.88 Mn | - | - |
| 9 | American Express | 208.01 Bn | -160.24 Mn | - | 14.48 Bn |
| 10 | Capital One Financial | 122.27 Bn | 122.27 Bn | - | 9.04 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.76 Bn |
| Mar 31, 2026 | 4.00 Bn |
| Dec 31, 2025 | 4.16 Bn |
| Sep 30, 2025 | 4.58 Bn |
| Jun 30, 2025 | 4.00 Bn |
| Mar 31, 2025 | 4.16 Bn |
| Dec 31, 2024 | 3.28 Bn |
| Sep 30, 2024 | 3.27 Bn |
| Jun 30, 2024 | 2.96 Bn |
| Mar 31, 2024 | 3.42 Bn |
| Dec 31, 2023 | 2.68 Bn |
| Sep 30, 2023 | 3.06 Bn |
| Jun 30, 2023 | 3.10 Bn |
| Mar 31, 2023 | 2.65 Bn |
| Dec 31, 2022 | 2.85 Bn |
| Sep 30, 2022 | 2.70 Bn |
| Jun 30, 2022 | 3.13 Bn |
| Mar 31, 2022 | 2.39 Bn |
| Dec 31, 2021 | 2.28 Bn |
| Sep 30, 2021 | 2.24 Bn |
API Access
Visa Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=V&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "V", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=V&period=max&api_key=YOUR_API_KEY");
const data = await res.json();