Keep pulling the thread on Clay Finck.
Visa processes more than $16 trillion in payment volume per year.
Since its IPO in 2008, Visa's stock has compounded at approximately 18.8% per year, compared to the S&P 500's 11.8% over the same period.
Visa maintains a pristine financial profile with 60% operating margins and low capital intensity.
Chuck Akre's firm holds a stake in Visa valued at over $1 billion, representing 10% of its portfolio.
Chris Hohn of TCI Fund Management holds an 18% position in Visa, valued at over $9.5 billion.
Visa's 2008 IPO was one of the largest in history, raising $19.1 billion.
Visa's network connects over 4 billion cardholders, 150 million merchants, and nearly 14,500 financial institutions worldwide.
Cross-border transactions constitute just 10% of Visa's payment volume but generate more than one-third of its revenue.
Excluding China, Visa holds an estimated 60% of the payment market, while Mastercard has 25% and American Express has just over 10%.
Visa's "new flows" segment, which includes B2B payments and peer-to-peer transfers, addresses a $200 trillion market opportunity of which Visa currently handles less than 1%.
Visa and Mastercard focus on expanding the total addressable market by converting the world's remaining $11 trillion in cash transactions to digital payments rather than engaging in price wars.
In fiscal year 2025, Visa generated approximately $40 billion in revenue.