Key Performance Metrics

  • The review of Net Profit Margin witnessed a fluctuating trend. The Net Profit Margin moved from 52.57% in 2019 to 52.90% in 2023.
  • The average EBIT Margin for the period under analysis was 66.29%, with 2022 and 2021 performing the worst and best, respectively.
  • In the current year, VISA was able to cover its interest liabilities 36.23 times – compared to 2019 when it was 28.92 times.
  • The Asset turnover stood at 0.37 times in 2023 from 0.32 in 2019, implying a high performance on Assets of the business in relation to revenue.


  • The revenue of VISA has fluctuated year on year. The revenue decreased by4.92% between 2019 and 2020 and a further 21.59% increase was recorded between 2021 and 2022. There also occurred an increase of 11.41% between 2022 and 2023 (the current period).
  • Visa’s performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks poor, as current ratio stayed at 1.45:1 to 1.45:1 on the last year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • Visa is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be high as it stood at 53% in the current year.

Source: Visa Annual Report

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