Visa (V) FY2011 results: revenue $9.2 billion, up 13.9% on the year
Visa Inc. (V) reported revenue of $9.2 billion for fiscal 2011, the year ended 30 September 2011, up 13.9% on the year before. Net income was $3.6 billion, up 23.1%. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2011.
Revenue
$9.2 billion
+13.9% on the year
FY2007FY2011
Operating margin
59.4%
56.9% a year earlier
FY2007FY2011
Net income
$3.6 billion
+23.1% on the year
FY2007FY2011
Diluted EPS
n/a
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
9,188
8,065
6,911
+13.9%
Operating income
5,456
4,589
3,538
+18.9%
Operating margin
59.4%
56.9%
51.2%
Interest expense
32.0
72.0
115
-55.6%
Pre-tax income
5,656
4,638
4,000
+21.9%
Income tax
2,010
1,674
1,648
+20.1%
Effective tax rate
35.5%
36.1%
41.2%
Net income
3,650
2,966
2,353
+23.1%
Net margin
39.7%
36.8%
34.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,872
2,691
558
+43.9%
Capital expenditure
353
241
306
+46.5%
Free cash flow
3,519
2,450
252
+43.6%
Free cash flow margin
38.3%
30.4%
3.6%
Cash from investing
-2,299
-1,904
1,830
Cash from financing
-3,304
-1,542
-2,751
Depreciation and amortisation
288
265
226
+8.7%
Share-based compensation
154
131
115
+17.6%
Buybacks
2,024
1,000
2,646
+102.4%
Dividends paid
423
368
318
+14.9%
Dividend per share
$0.15
$0.12
$0.10
+20.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
26,437
25,011
23,189
+5.7%
Non-controlling interest
n/a
3.0
4.0
Debt
0.0
44.0
56.0
Other liabilities
8,323
8,350
9,032
-0.3%
Total liabilities and equity
34,760
33,408
32,281
+4.0%
Fixed assets
1,541
1,357
1,204
+13.6%
Goodwill
11,668
11,447
10,208
+1.9%
Intangible assets
11,436
11,478
10,883
-0.4%
Investments
1,925
148
224
+1,200.7%
Cash and equivalents
2,127
3,867
4,617
-45.0%
Receivables
560
476
444
+17.6%
Other assets
5,503
4,635
4,701
+18.7%
Total assets
34,760
33,408
32,281
+4.0%
10-K for the year ended 30 September 2011, filed 18 November 2011: the filing.