Visa Inc. (V)
割安ファンダメンタル
69
株価
$359.33
時価総額
$690.83B
パート1 · 企業の価値
概要
Visa runs the electronic network that connects banks, merchants and cardholders so that a card payment clears in seconds. It does not lend money or issue cards itself — banks do that — Visa only moves the transaction data and guarantees the payment reaches the merchant. It earns a small fee on an enormous number of transactions worldwide, and because the network already links millions of merchants and billions of cards, each additional transaction costs it very little to process.
収益の仕組み
Visa books revenue in four categories: service fees for carrying volume on the network, data processing fees for authorizing and clearing each transaction, international transaction fees when a payment crosses currencies or borders, and other smaller fees. It then pays back a large chunk of that gross revenue to banks and merchants as client incentives to keep them issuing Visa cards and accepting them, so net revenue is what remains after those payments.
セグメント別売上高
Fees for authorizing, clearing and settling each transaction on the network — the single largest and fastest-growing revenue line.
Fees charged to financial institutions based on the payment volume carried on their Visa-branded cards.
Fees earned when a card is used in a currency or country different from where it was issued.
Value-added services such as fraud prevention, consulting and data analytics sold to banks and merchants.
競争優位性(moat)
ネットワーク効果 · 広いVisa's network is valuable precisely because so many banks and merchants already use it: a card is worth little if merchants won't take it, and a merchant terminal is worth little if customers don't carry the card. That mutual dependence, built over sixty years, is extremely hard for a new entrant to replicate — it would need both sides of the market on board at once.
需要を左右する要因
中程度の景気循環性Payment volume tracks overall consumer spending, so it slows when the economy weakens and picks up when it strengthens, but people keep paying for everyday goods even in a downturn, which makes the swings milder than in industries selling big discretionary purchases. Cross-border volume, tied to travel and international e-commerce, is the most cyclical slice of the business.
主なリスク
- Increasing regulation — Growing regulatory attention on the payments industry worldwide can impose costly new compliance burdens on Visa and its bank clients, and in some cases directly caps the fees Visa is allowed to charge.
- Disintermediation — New payment technologies and bilateral arrangements — merchants settling directly with issuers or processors, for instance — can route transactions around Visa's network entirely, cutting it out of a deal it once earned a fee on.
- Merchant and interchange litigation — Visa has faced large antitrust actions from U.S. and European merchants over how it sets default interchange rates, already resulting in billions of dollars in settlements and ongoing restrictions on how it can operate.
- Data breaches and fraud — A breach involving card data stored by Visa or by a third party, or a disruption to its transaction-processing systems, could damage trust in the network and trigger liability and remediation costs.
強気材料
Buyers argue that Visa's network effect is nearly impossible to dislodge, that fiscal 2025's 11% net revenue growth and expanding value-added services show the company is still finding new ways to grow, and that the business needs almost no capital to keep processing more transactions as global commerce keeps shifting from cash to cards.
弱気材料
Sellers fear that regulators worldwide keep chipping away at interchange fees, that real-time bank-transfer schemes and stablecoins offer merchants a cheaper way to get paid that bypasses Visa entirely, and that a network built on two-sided trust is exactly what a large data breach could undermine.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$43.03B
直近12か月(2026/3/31まで)
純利益
$22.24B
直近12か月(2026/3/31まで)
フリーキャッシュフロー
$21.58B
自己資本合計
$37.91B
負債合計
$61.72B
流動比率
1.09
利払い倍率
42.34
負債/EBITDA
0.95
一株当たり利益(EPS)
EPSデータがありません
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$631.86
現在株価
$359.33
安全マージン
+43.1%
適正価値レンジ
$410.71 - $853.02
使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。
推定方法
バリュエーション指標
P/E レシオ
29.96
ROE
52.9%
P/B レシオ
4.73
P/FCF
7.96
粗利益率
-
ROIC
31.5%
収益性レーダー
価値創造(経済的モート)
ROIC
31.5%
WACC
8.8%
ROIC − WACC
+22.7 pp
ROICが資本コストを上回っています。企業は株主のために価値を創出しています。
ファンダメンタル分析基準
合格(16)
- Price CAGR 16.57%
- ROIC 31.5%
- P/FCF 7.96
- Debt/Equity ratio
- Operating Margin 61.1%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 61.3%
- Revenue Growth 5Y 12.9%
- Analyst Consensus 88% Buy
- PEG Ratio 1.89
- Earnings Quality (OCF/NI) 1.02
不合格(6)
- P/B Ratio 4.73
- Low reliance on intangibles
- DCF valuation (Fairly valued)
- Earnings Surprise avg 0.8%
- Net Margin Trend 51.7% vs 52.9%
- Piotroski F-Score 4/9
データなし(5)
- EPS data insufficient
- Gross Margin NaN%
- Dividend Payout NaN%
- Price below Graham Number
- Share Dilution (missing shares data)
Piotroski F-スコア
まちまちのシグナル:一部の領域に注意が必要
利益の質
高品質:利益はキャッシュに裏付けられている
株式希薄化
株式を買い戻している。株主に友好的
機関投資家の保有
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Ryan M. McInerney | CEO & Director | 50 |
| Mr. Christopher Suh | Chief Financial Officer | 55 |
| Mr. Rajat Taneja | President of Technology | 61 |
| Ms. Kelly Mahon Tullier J.D. | Vice Chair, Chief People & Corporate Affairs Officer and Corporate Secretary | 59 |
| Mr. Paul D. Fabara | Chief Risk & Client Services Officer | 59 |
| Mr. Peter Andreski | Senior VP, Global Corporate Controller & Chief Accounting Officer | 52 |
| Ms. Jennifer Como | Head of Investor Relations | - |
| Ms. Julie B. Rottenberg J.D. | General Counsel | 56 |
| Mr. Frank Cooper III | Chief Marketing Officer | 61 |
| Mr. Oliver Jenkyn | Group President of Global Markets | 52 |
監査リスク
10
取締役会リスク
1
報酬リスク
2
株主権利リスク
4
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
業績推移
via SEC EDGAR
Latest News
Recent headlines for V, sourced from Markets Gazette.
- 22d agoNEUTRALVisa India’s Next Bet Beyond UPI Dominance
Visa's India Country Manager, Suresh Sethi, discussed the company's strategy to maintain card relevance amidst India's burgeoning digital payments landscape, particularly the dominance of Unified Payments Interface (UPI). Sethi highlighted Visa's focus on growth priorities, strategic partnerships, and leveraging India's digital public infrastructure. While the discussion centers on Visa's efforts to adapt and innovate in a competitive market, it does not present concrete financial results or forward-looking guidance that would immediately impact its stock price. Investors will monitor how Visa's strategic initiatives translate into market share and revenue growth in India.
- 23d agoPOSITIVEVisa brings onchain credit to its growing stablecoin card business
Visa is integrating onchain credit capabilities into its stablecoin card business, as stablecoin payment volume on its network has surged by nearly 200% year-over-year. This strategic move combines VisaNet settlement data with blockchain lending, signaling a significant expansion into the digital asset payment space. The substantial growth in stablecoin usage indicates increasing adoption and trust in these digital currencies for transactions. For investors, this development highlights Visa's commitment to innovation and its ability to adapt to evolving payment technologies, potentially unlocking new revenue streams and solidifying its market position in the future of digital finance.
- 8/28/2026POSITIVEVisa works with Upbit parent on stablecoin payments, AI commerce
Visa Inc. is collaborating with Dunamu, the parent company of South Korean crypto exchange Upbit, to explore the integration of stablecoin payments and remittances. This partnership will investigate various projects, including Open Standard's proposed OUSD stablecoin, for potential use in cross-border transactions. The initiative signals Visa's continued interest in leveraging blockchain technology to enhance payment efficiency and expand its reach into the digital asset space, potentially opening new revenue streams and improving transaction speeds for its global network.
- 8/24/2026POSITIVEVisa and Mastercard stocks hit fresh records, underscoring a resilient U.S. consumer
Visa and Mastercard stocks reached new all-time highs, reflecting robust consumer spending in the U.S. Despite consumers becoming more selective, aggregate spending remains strong, benefiting these payment giants. This resilience in consumer behavior, coupled with the companies' dominant market positions, suggests continued revenue growth and profitability. Investors are likely to view this trend positively, anticipating sustained performance from these payment network leaders.
- 7/29/2026NEUTRALVisa Beats Estimates, Takes $563 Million Charge on Job Cuts
Visa Inc. reported fiscal third-quarter earnings that surpassed Wall Street expectations. However, the company also announced significant workforce reductions, planning to eliminate approximately 2,600 jobs. This move, while potentially impacting short-term morale and incurring restructuring charges, could be viewed by investors as a strategic effort to streamline operations and improve long-term profitability. The dual nature of beating estimates while implementing cost-saving measures presents a mixed picture for the payments giant.
- 7/28/2026NEUTRALVisa outlines stablecoin strategy during Q3 earnings call
Visa Inc. detailed its strategic investments in the stablecoin ecosystem during its third-quarter earnings call. The company highlighted advancements in OpenUSD, tokenized deposits, and the integration of AI in commerce solutions. This strategic focus on stablecoins and emerging digital payment technologies indicates Visa's proactive approach to evolving financial landscapes. While the news provides insight into Visa's future direction, it does not immediately translate into a quantifiable financial impact on its current earnings or stock price, thus presenting a neutral signal for investors at this juncture.
- 7/16/2026POSITIVEExclusive: Visa launches new platform to provide stablecoin services to more than 200 million merchants
Visa has launched a new platform enabling banks and fintech firms to mint, move, and manage stablecoins directly across its extensive network. This initiative opens up stablecoin services to over 200 million merchants globally, integrating digital currencies into mainstream payment systems. The move signifies a major step towards broader adoption of blockchain technology in financial transactions, potentially increasing transaction volumes and revenue streams for Visa. Investors should monitor the platform's uptake and its impact on Visa's core payment processing business.
- 7/16/2026NEGATIVEAutonomous AI agent economy faces infrastructure gaps: Visa, Artemis
A joint report by Visa and Artemis highlights significant infrastructure gaps hindering the commercial expansion of the autonomous AI agent economy. These bottlenecks, which include issues related to scalability, security, and interoperability, are preventing the widespread adoption of AI agents for commercial purposes. For investors, this suggests that while the potential for AI-driven economies is high, the realization of this potential faces substantial near-term challenges. Companies like Visa, which are foundational to digital transactions, may see slower growth in this specific area until these infrastructure issues are resolved.
- 6/11/2026POSITIVEVisa thinks it’s a great idea for AI agents to shop and pay for things without human approval
Visa's Chief Product Officer, Jack Forestell, suggested that AI agents could soon be authorized to make purchases without direct human approval. This vision implies a significant expansion of transaction volume and a new era of automated commerce, potentially boosting Visa's payment processing revenues. While raising questions about security and consumer control, the move signals Visa's proactive stance in leveraging AI to drive future growth and integrate its services more seamlessly into daily digital life, benefiting investors by positioning the company at the forefront of fintech innovation.
- 6/10/2026NEUTRALVisa’s CFO views stablecoins and AI commerce as a long-term bet: ‘They won’t pay off in the next six months, but could over the next six years’
Visa's CFO, Chris Suh, expressed a long-term perspective on stablecoins and AI-driven commerce, suggesting these innovations are unlikely to yield significant returns within the next six months but hold potential over a six-year horizon. While Suh remains cautious about heavily investing in these areas immediately, his acknowledgment of their future importance indicates a strategic, albeit gradual, integration into Visa's business model. This outlook suggests that while immediate financial impact is minimal, the company is positioning itself for future technological shifts in payment ecosystems, which could eventually influence transaction volumes and revenue streams.
via Markets Gazette