Visa Earnings: Solid Finish to a Strong Fiscal Year

Visa's fiscal fourth-quarter results showed strong performance, with net revenue up 13% year-over-year on a constant-currency basis and payments volume growing 9%. Cross-border volume growth modestly picked up to 14%, and value-added services saw 30% growth for the fiscal year. Despite this, Morningstar maintains its $330 fair value estimate, viewing shares as modestly overvalued, and suggests the market is too optimistic about Visa's long-term prospects given expected moderation in growth for fiscal 2027.