V · NYQ · Financial Services
Visa Inc.
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 103.43
Market price
USD 425.51
Implied upside
-75.7%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-09-30
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 52.1%
- Payout
- 22%
- Cost of equity
- 8.52%
- Return on equity by the final year
- 20.0%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 37.2bn | USD 43.9bn | USD 51.2bn | USD 58.7bn | USD 66.4bn | USD 73.9bn | USD 80.9bn | USD 87.1bn | USD 92.4bn | USD 96.3bn |
| Return on equity | 48.9% | 45.7% | 42.5% | 39.3% | 36.0% | 32.8% | 29.6% | 26.4% | 23.2% | 20.0% |
| Excess return | USD 15.0bn | USD 16.3bn | USD 17.4bn | USD 18.1bn | USD 18.3bn | USD 18.0bn | USD 17.1bn | USD 15.6bn | USD 13.6bn | USD 11.1bn |
| Present value | USD 13.8bn | USD 13.9bn | USD 13.6bn | USD 13.0bn | USD 12.1bn | USD 11.0bn | USD 9.6bn | USD 8.1bn | USD 6.5bn | USD 4.9bn |
| Book equity | USD 37.2bn |
| Present value of excess returns | USD 106.6bn |
| Terminal, growing at 2.50% | USD 83.2bn |
| Equity value | USD 226.9bn |
| Per share | USD 103.43 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.857 | Reported 0.786, pulled toward 1.0 (Blume) |
| Cost of equity | 8.52% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.