V US · Visa Inc. Class AMW GOBLIN RESEARCH
Visa (V): Services Growth, Cash Conversion Is Key
Analysis date
Published
Neutral as of 2026-10-03. Value-added services growth is solid, but at $360.66 the stock trades at 28.2 times adjusted earnings over the past 12 months. Given rising costs and shareholder returns exceeding cash flow, it is difficult to consider the stock undervalued.
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Read the full reportWhat this report covers
- Converting value-added services growth into earnings is key
- Shareholder returns exceed free cash flow
- Distinguish per-share effects of the acquisition and litigation