Visa Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Visa Inc (V) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Visa Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 43,027M vs 485,075M combined for its competitors (8.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+4.4% annualized vs trailing 12 months), vs accelerating (+5.5%) for its tracked peer group.
- Growth: Visa Inc generated 17.1% revenue growth year over year in Q2 2026, vs 11.0% for its competitors combined.
- Profitability: Its 53.6% net margin compares with 19.8% for the peer group.
- Scale: Visa Inc ranks #1 of 167 companies by market capitalization in the Professional Services industry, holding 23.7% of industry market cap.
- Peer revenue share: Visa Inc accounted for 8.1% of combined revenue among its tracked peer group, up from 7.7% a year earlier.
- Peer differentiation: Revenue per employee of $1.26M compares with $0.64M for the peer group (2.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
V Sales vs. its Competitors, Q2 2026
Visa Inc reported revenue growth of 17.05 % year on year in Q2 2026, above its competitors' combined revenue growth of 11.04 %.
With a net margin of 53.62 %, Visa Inc achieved higher profitability than its competitors (19.83 %).
Visa Inc generated 8.07 % of the combined sales of its peer group, up from 7.69 % a year earlier.
API endpoints for this dataset
Visa Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Visa Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Visa Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Visa Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Visa Inc's competitor groups requires a Commercial License.
For context: the Professional Services industry grew revenue 7.1% year over year, combined, vs 17.1% for Visa Inc. Visa Inc's share of combined industry revenue moved from 1.80% to 1.96%, a gain of 0.17 percentage points.
Visa Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Visa Inc | Yes | Yes | Yes | No |
| Competitors combined (30) | ||||
| High-Confidence Competitors (8) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 75.00 % (6 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
V Stock Performance relative to its Competitors
V Stock Performance relative to High-Confidence Competitors
V Stock Performance relative to Similar-Size Competitors
V Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Usio Inc | 282.9% | Outperformed |
| 2 | Everi Holdings Inc | 282.9% | Outperformed |
| 3 | Bread Financial Holdings Inc | 282.9% | Outperformed |
| 4 | Discover Financial Services | 282.9% | Outperformed |
| 5 | Ncr Atleos Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Visa Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Visa Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Visa Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Visa Inc |
809,797.40 | 43,027.00 |
 Mastercard Incorporated |
571,765.20 | 36,288.00 |
 Bank Of America Corporation |
356,921.12 | 122,968.00 |
 American Express Company |
216,347.26 | 103,594.00 |
 Citigroup inc |
206,640.54 | 91,360.00 |
 Block Inc |
52,563.52 | 25,646.37 |
| SUBTOTAL | 2,429,765.02 | 542,194.92 |
Sign in to see all competitors of Visa Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Visa Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Visa Inc's Competitors Named by the Company
Competitive relationships identified from Visa Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| American Express Company | Company report | 85% |
| Affirm Holdings Inc | Company report | 85% |
| Discover | Company report | 85% |
| Mastercard Incorporated | Company report | 85% |
| Klarna Group Plc | Company report | 85% |
| Capital One | Company report | 85% |
| JCB | Company report | 85% |
| Diners Club/Discover | Company report | 85% |
| UnionPay | Company report | 85% |
| Marqeta Inc | Company report | 85% |
| Wex Inc | Company report | 85% |
| Aci Worldwide Inc | Company report | 85% |
| Bread Financial Holdings Inc | Company report | 85% |
| Synchrony Financial | Company report | 85% |
| Ncr Atleos Corporation | Company report | 85% |
| Veritec Inc | Company report | 85% |
| Evertec Inc | Company report | 85% |
| Usio Inc | Company report | 85% |
| Global Payments Inc | Company report | 85% |
| Resources Connection Inc | Company report | 85% |
| Zyversa Therapeutics Inc | Company report | 85% |
| Moonlake Immunotherapeutics | Company report | 85% |
| Rego Payment Architectures Inc | Company report | 85% |
| The Western Union Company | Company report | 85% |
| Fidelity National Information Services Inc | Company report | 85% |
| Block Inc | Company report | 85% |
| Green Dot Corp | Company report | 85% |
| Paysafe Limited | Company report | 85% |
| Paypal Holdings Inc | Company report | 85% |
| Fiserv Inc | Company report | 85% |
| Priority Technology Holdings Inc | Company report | 85% |
| Euronet Worldwide Inc | Company report | 85% |
| Paid Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Visa Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Visa Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Mastercard Incorporated | Payment Solutions 100.00 % |
| Citigroup inc | Markets 29.42 % |
| Block Inc | Cash App 60.63 % |
| Paypal Holdings Inc | Reportable 100.00 % |
| Global Payments Inc | Merchant Solutions 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Visa Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Visa Inc | 809,797 | 1,261,789 | 652,082 |
| Mastercard Incorporated | 571,765 | 911,759 | 426,080 |
| Bank Of America Corporation | 356,921 | 577,315 | 150,793 |
| American Express Company | 216,347 | 1,348,880 | 159,570 |
| Citigroup inc | 206,641 | 404,248 | 80,004 |
| Block Inc | 52,564 | 2,513,118 | 45,035 |
| PEERS TOTAL | 1,619,968 | 638,081 | 129,408 |
Visa Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Visa Inc | Non-US 61.39 % |
| Mastercard Incorporated | International Markets 57.28 % |
| Block Inc | United States 90.67 % |
| Paypal Holdings Inc | UNITED STATES 58.27 % |
| Fidelity National Information Services Inc | North America 77.76 % |
| Paymentus Holdings Inc | US 98.52 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Visa Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 153 companies in Visa Inc's industry classification, broader than the peer set above. Market cap in millions of $.Visa Inc ranks #1 of 153 companies by market capitalization in its industry, holding 23.70 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,103, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Visa Inc | 809,797 | 23.70 % |
| 2 | Mastercard Incorporated | 576,334 | 16.87 % |
| 3 | Repay Holdings Corporation | 366,456 | 10.73 % |
| 4 | Alibaba Group Holding Limited | 254,010 | 7.43 % |
| 5 | Accenture Plc | 1,234 | 5.2% |
| 6 | Uber Technologies Inc | 1,234 | 5.2% |
| 7 | Pdd Holdings inc | 1,234 | 5.2% |
| 8 | Orix Corporation | 1,234 | 5.2% |
| 9 | Doordash Inc | 1,234 | 5.2% |
| 10 | Mercadolibre Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Visa Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Visa Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Visa Inc | 809,797 | 23.02 % |
| 2 | Mastercard Incorporated | 576,334 | 17.92 % |
| 3 | Repay Holdings Corporation | 1,234 | 12.3% |
| 4 | Alibaba Group Holding Limited | 1,234 | 12.3% |
| 5 | Accenture Plc | 1,234 | 12.3% |
| 6 | Uber Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Visa Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Visa Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Professional Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (291 companies). See the full Professional Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 0.00 % | 33.12 % (avg) | -33.1 pp |
| Operating Margin | 61.12 % | industry median | +56.4 pp |
| EBITDA Margin | 66.59 % | 5.60 % (avg) | +61.0 pp |
| Capital Intensity (Capex / Revenue) | 3.65 % | 4.36 % (avg) | -0.7 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Visa Inc's Valuation vs Competitive Position
Valuation multiples vs the Professional Services industry average (291 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Professional Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 27.8x | 25.2x | +2.6x |
| EV / EBITDA | 21.8x | 14.0x | +7.8x |
| P/B | 16.4x | 3.5x | +12.9x |
| Return on Equity | 59.24 % | industry aggregate | 37.01 % |
| Return on Invested Capital | 24.51 % | 1.05 % (avg) | 23.46 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Visa Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 13.29 % | 10.69 % | -8.70 % | 18.61 % | 18.49 % | 10.48 % | 10.35 % | 12.47 % |
| Operating Margin | -33.30 % | 19.10 % | 65.65 % | 66.44 % | 63.36 % | 65.56 % | 64.87 % | 59.18 % |
| Return on Invested Capital | -7.68 % | 4.90 % | 14.58 % | 16.24 % | 19.02 % | 26.19 % | 22.18 % | 22.90 % |
| P/E | 29.4x | 34.3x | 42.9x | 34.9x | 29.7x | 28.2x | 30.1x | 31.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Visa Inc's Strategic Group Map
Visa Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Visa Inc's trailing-12-month revenue growth of 14.4% and operating margin of 61.1% compares with an average of 20.1% growth and 47.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Visa Inc sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Visa Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Visa Inc falls in the Cash Cow quadrant: relative market share of 1.41x vs its largest competitor, in an industry growing revenue 5.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Visa Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,103 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.65 % vs industry average 4.36 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Visa Inc's dedicated Suppliers and Customers pages, not here.
Visa Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Visa Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Visa Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 153, 23.70 % share).
- Operating margin 56.4 points above the industry median.
- Return on equity 37.0 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+4.4% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
No rule matched.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Visa Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Visa Inc | 0.48 | 1.09 | 0.66 |
| Mastercard Incorporated | 0.44 | 1.02 | 3.23 |
| Bank Of America Corporation | 0.10 | 0.52 | 1.27 |
| American Express Company | 0.25 | 1.00 | 1.72 |
| Citigroup inc | 0.07 | 0.40 | 1.78 |
| Block Inc | 0.63 | 2.15 | 0.40 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Visa Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Visa Inc | Q1 2026 | +17.1 % | +31.5 % |
| Mastercard Incorporated | Q3 2026 | +14.0 % | +17.9 % |
| Bank Of America Corporation | Q3 2026 | +3.2 % | -16.8 % |
| American Express Company | Q3 2026 | -35.4 % | +27.9 % |
| Citigroup inc | Q2 2026 | +14.3 % | +44.6 % |
| Block Inc | Q3 2026 | +9.9 % | +22.5 % |
| PEERS TOTAL | -0.3 % | +12.4 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Visa Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Visa Inc | Q1 2026 | - | - |
| Mastercard Incorporated | Q3 2026 | - | -8.6 % |
| Bank Of America Corporation | Q3 2026 | - | - |
| American Express Company | Q3 2026 | -23.5 % | +44.8 % |
| Citigroup inc | Q2 2026 | - | -11.6 % |
| Block Inc | Q3 2026 | +7.0 % | -12.7 % |
Visa Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Visa Inc | 22.56% | 31.88% | 59.24% |
| Mastercard Incorporated | 30.49% | 52.89% | 252.80% |
| Bank Of America Corporation | 0.93% | 1.18% | 10.69% |
| American Express Company | 3.99% | 5.76% | 35.64% |
| Citigroup inc | 0.66% | 0.69% | 8.46% |
| Block Inc | 1.15% | 1.30% | 2.07% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Visa Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Visa Inc | 36.52 | 18.82 |
| Mastercard Incorporated | 34.23 | 15.76 |
| Bank Of America Corporation | 11.79 | 2.90 |
| American Express Company | 18.11 | 2.09 |
| Citigroup inc | 12.90 | 2.26 |
| Block Inc | 115.41 | 2.05 |
| PEERS AVERAGE | 19.68 | 4.48 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.