Valueline Visa.pdf - VISA INC NYSE-V TIMELINESS SAFETY...

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320 200 160 120 100 80 60 40 18 4-for-1 Percent shares traded 75 50 25 Target Price Range 2021 2022 2023 VISA INC. NYSE - V 132.76 27.5 30.0 23.0 1.64 0.8% TIMELINESS 1 Raised 10/12/18 SAFETY 1 Raised 5/16/14 TECHNICAL 3 Raised 10/19/18 BETA 1.00 (1.00 = Market) 2021-23 PROJECTIONS Ann’l Total Price Gain Return High 185 (+40%) 10% Low 155 (+15%) 5% Insider Decisions D J F M A M J J A to Buy 0 0 0 0 0 0 0 0 0 Options 5 0 0 0 0 1 0 0 2 to Sell 2 0 1 0 0 1 0 0 2 Institutional Decisions 4Q2017 1Q2018 2Q2018 to Buy 818 895 953 to Sell 719 956 878 Hld’s(000) 168860416484131640826 High: 22.5 22.4 24.3 25.9 38.1 55.7 67.3 81.0 84.0 114.9 151.6 Low: 10.9 10.4 16.2 16.9 24.6 38.5 48.7 60.0 66.1 78.5 111.0 % TOT. RETURN 9/18 THIS VL ARITH.* STOCK INDEX 1 yr. 43.6 13.0 3 yr. 120.1 54.8 5 yr. 225.6 62.8 Visa Inc. is the result of the merger of Visa USA, Visa International, Visa Canada, and Inovant. The reorganization was completed in October 2007. In March of 2008, the com- pany went public, offering 1.62 billion shares at an initial price of $11 (figures adjusted for 3/15 stock split). It raised $17.9 billion in the largest IPO in U.S. history to date. Lead un- derwriters were J.P. Morgan and Goldman Sachs, which led a team of other main un- derwriters and several small banks. CAPITAL STRUCTURE as of 9/30/18 Tot. Debt $16.6 bill. Due in 5 yrs. $4.7 bill. LT Debt $16.6 bill. (33% of cap’l) Leases, Uncapitalized Annual rentals $76 mill. No Defined Benefits Plan Pfd Stock None Common Stock 2031.0 million shares MARKET CAP: $270 billion (Large Cap) CURRENT POSITION 2016 2017 9/30/18 ($MILL.) Cash Assets 5619 9874 8162 Receivables 1041 1132 1208 Other 7653 8017 8846 Current Assets 14313 19023 18216 Accts Payable 203 179 183 Debt Due - - 1749 - - Other 7843 8066 11122 Current Liab. 8046 9994 11305 ANNUAL RATES Past Past Est’d ’15-’17 of change (per sh) 10 Yrs. 5 Yrs. to ’21-’23 Revenues - - 17.5% 12.5% ‘‘Cash Flow’’ - - 22.0% 12.5% Earnings - - 21.0% 14.5% Dividends - - 32.0% 15.5% Book Value - - 8.0% 12.0% Fiscal Year Ends Full Fiscal Year QUARTERLY REVENUES ($ mill.) AE Dec.31 Mar.31 Jun.30 Sep.30 2015 3382 3409 3518 3571 13880 2016 3565 3626 3630 4261 15082 2017 4461 4477 4565 4855 18358 2018 4862 5073 5240 5434 20609 2019 5425 5675 5850 6050 23000 Fiscal Year Ends Full Fiscal Year EARNINGS PER SHARE ABE Dec.31 Mar.31 Jun.30 Sep.30 2015 .63 .63
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  • Winter '15
  • Fiscal Year, Credit card, Visa Inc., Visa International, Visa Debit, Visa Electron

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