What is Visa's backlog?

Visa reported $5.60B of remaining performance obligations at 30 Sep 2026, up 14% from a year earlier. That is 0.1 years of trailing revenue already under contract.

Visa (V) backlog: remaining performance obligations

How much revenue Visa already has under contract, how fast it converts, and who it is with.

Data as of 7 Nov 2026.

Open the interactive Backlog view Visa competitor analysis

Visa reported $5.60B of remaining performance obligations at 30 Sep 2026, up 14% from a year earlier. That is 0.1 years of trailing revenue already under contract.
The company reports 50% of the backlog due within the first 24 months.
Customer prepayments (contract liabilities) cover 33.9% of the backlog.
Twelve-month book-to-bill: 1.01, i.e. 1.01 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -0 points — revenue is catching up with orders.
By backlog size it ranks 105th among US filers the cockpit tracks.

Visa backlog history

Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).

Amounts in USD. Source: SEC XBRL filings.
Quarter end	Backlog (RPO)	TTM revenue	Coverage	Customer prepayments
30 Sep 2026	$5.60B	$45.9B	0.1 yrs	$1.90B
30 Sep 2025	$4.90B	$40.0B	0.1 yrs	$1.70B
30 Jun 2025	$4.70B	$38.9B	0.1 yrs	n/a
31 Mar 2025	$4.50B	$37.6B	0.1 yrs	n/a
31 Dec 2024	$4.30B	$36.8B	0.1 yrs	n/a
30 Sep 2024	$4.10B	$35.9B	0.1 yrs	n/a
30 Jun 2024	$3.70B	$34.9B	0.1 yrs	n/a
31 Mar 2024	$3.40B	$34.1B	0.1 yrs	n/a
31 Dec 2023	$3.20B	$33.4B	0.1 yrs	n/a
30 Sep 2023	$2.90B	$32.7B	0.1 yrs	n/a
30 Sep 2022	$1.80B	$29.3B	0.1 yrs	n/a
30 Sep 2021	$1.70B	$24.1B	0.1 yrs	n/a

Questions

What is Visa's backlog?: Visa reported $5.60B of remaining performance obligations at 30 Sep 2026, up 14% from a year earlier. That is 0.1 years of trailing revenue already under contract.

About these numbers

Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.