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In the latest data point for Q2'26 , Visa's EV/EBITDA ratio reached 21.872 . This represents a slight decrease from the 22.415 recorded in Q1'26 , continuing a downward trend in valuation multiples observed over the most recent quarters. From Q3'23 to Q2'26 , the EV/EBITDA ratio exhibited notable volatility, peaking at 25.272 in Q2'25 before entering a steady decline. While the ratio saw a significant dip to 19.713 in Q3'24 , it generally maintained a range between 21 and 25 , reflecting shifting market sentiment regarding the company's enterprise value relative to its earnings power over the two-year period.