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Intuit

INTU Nasdaq Application Software Financials FY2017–FY2026

Intuit's revenue rose 13.9% to $21.4 billion in fiscal 2026. Its operating margin was 27.4%, up from 26.1% a year earlier. Free cash flow was $8.7 billion, up 41.5%. It paid out $6.8 billion in dividends and buybacks, 78% of free cash flow. The diluted share count fell 2.1%.

Last close · Oct 23, 2026

$343.39

3.2%
Value it Compare
Revenue Total sales reported in the income statement.
$21.4B
13.9% vs prior year
Operating margin Operating income as a share of revenue.
27.4%
1.3 pts
Net income Profit after all expenses, interest and tax.
$4.6B
18.0%
Free cash flow Cash from operations minus capital spending.
$8.7B
41.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
22.0%
3.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$95.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Intuit does

Intuit sells tax, accounting, money-management and marketing software to consumers, small and mid-sized businesses and accountants. It says it serves approximately 93 million customers. Its main brands are TurboTax for tax returns, QuickBooks for bookkeeping, payroll and payments, Credit Karma for credit scores and personal finance, and Mailchimp for email marketing.

It reports two segments. Global Business Solutions, the larger one, sells QuickBooks, payroll, payment processing, business loans and Mailchimp to small and mid-sized businesses and the accountants who serve them. Consumer sells TurboTax, Credit Karma and professional tax software for accountants in the U.S. and Canada. TurboTax sales are concentrated between November and April, so revenue is higher in the second and third fiscal quarters. International revenue was approximately 8% of total net revenue in each of the last three fiscal years.

Intuit says its strategy is to combine AI with human tax and bookkeeping experts so the software does more of the work for customers. It also offers money products, such as early access to tax refunds and loans, through bank partners.

Legal name
INTUIT INC.
Fiscal year ends
July 31, 2026
Latest annual report
10-K · Sep 9, 2026
Accession · CIK
0000896878-26-000037
0000896878

Revenue and margins

Intuit had $21.4B of revenue in fiscal 2026, up 13.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 17.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $8.7B in fiscal 2026, 40.4% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Intuit returned $6.8B to shareholders in fiscal 2026, 78% of free cash flow. The diluted share count fell 2.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Intuit yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$469M and divides by 277.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.9x · peers 27.7x · sector 33.5x.

Balance sheet

Cash, debt and the ratios that show how comfortably Intuit can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $3.3B$3.7B$4.1B$4.6B$7.2B
Debt incl. finance leases $6.9B$6.1B$6.0B$6.0B$7.7B
Net debt / EBITDA 1.1x0.7x0.5x0.3x0.1x
Debt / equity 0.4x0.4x0.3x0.3x0.4x
Interest coverage 31.7x12.7x15.0x19.9x23.0x
Current ratio 1.4x1.5x1.3x1.4x1.5x
Quick ratio 1.4x1.5x1.3x1.4x1.5x
Total assets $27.7B$27.8B$32.1B$37.0B$36.8B
Total liabilities $11.3B$10.5B$13.7B$17.2B$17.8B
Shareholders' equity $16.4B$17.3B$18.4B$19.7B$19.0B
Net debt (− = net cash) $3.6B$2.5B$2.0B$1.4B$469M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.5M

1 insider

Sold, 12 months

$1.3M

2 insiders

Of sales under plans

76%

$1.0M

DateInsiderTradeSharesPriceValueFiling
Sep 8, 2026 Richard L DalzellDirector Sold plan 285 $325.36 $0.1M Form 4
Aug 27, 2026 Lauren D HotzSVP, Chief Accounting Officer Sold 907 $346.54 $0.3M Form 4
Jun 23, 2026 Richard L DalzellDirector Sold plan 284 $262.32 $0.1M Form 4
Jun 16, 2026 Richard L DalzellDirector Sold plan 284 $282.20 $0.1M Form 4
Jun 11, 2026 Richard L DalzellDirector Sold plan 338 $279.86 $0.1M Form 4
Jun 10, 2026 Richard L DalzellDirector Sold plan 333 $287.50 $0.1M Form 4
Jun 9, 2026 Richard L DalzellDirector Sold plan 333 $297.65 $0.1M Form 4
May 26, 2026 Vasant M PrabhuDirector Bought 500 $309.72 $0.2M Form 4
May 22, 2026 Vasant M PrabhuDirector Bought 1,250 $309.45 $0.4M Form 4
Mar 12, 2026 Richard L DalzellDirector Sold plan 333 $440.40 $0.1M Form 4
Mar 11, 2026 Richard L DalzellDirector Sold plan 333 $458.10 $0.2M Form 4
Mar 10, 2026 Richard L DalzellDirector Sold plan 333 $474.01 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✕ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✕
F-score 6 / 87 / 86 / 8
Accruals ratio −6.4%−6.8%−11.6%
Altman Z'' 4.344.494.80

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Intuit INTU $95.1B 13.9% 27.4% 40.4% 22.0% — 6
Adobe ADBE $104.3B 10.5% 36.6% 41.5% 65.9% 14.7x 7 Compare →
Salesforce CRM $204.1B 9.6% 20.1% 34.7% 10.8% 22.7x 7 Compare →
Workday WDAY $51.7B 13.1% 7.6% 29.1% 10.6% 42.5x 7 Compare →
Autodesk ADSK $53.2B 17.5% 21.9% 33.4% 37.0% 32.7x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $5.2B $6.0B $6.8B $7.7B $9.6B $12.7B $14.4B $16.3B $18.8B $21.4B
Gross profit $5.1B — — — — — — — — —
Research and development $998M $1.2B $1.2B $1.4B $1.7B $2.3B $2.5B $2.8B $2.9B $3.4B
Operating income $1.4B $1.6B $1.9B $2.2B $2.5B $2.6B $3.1B $3.6B $4.9B $5.9B
Interest expense $31.0M $20.0M $15.0M $14.0M $29.0M $81.0M $248M $242M $247M $256M
Pretax income $1.4B $1.6B $1.9B $2.2B $2.6B $2.5B $3.0B $3.6B $4.8B $6.0B
Income tax $405M $237M $324M $372M $494M $476M $605M $587M $965M $1.5B
Net income $985M $1.3B $1.6B $1.8B $2.1B $2.1B $2.4B $3.0B $3.9B $4.6B
Diluted EPS $3.78 $5.09 $5.89 $6.92 $7.56 $7.28 $8.42 $10.43 $13.67 $16.46
Diluted shares 0.26B 0.26B 0.26B 0.26B 0.27B 0.28B 0.28B 0.28B 0.28B 0.28B
Cash flow
Cash from operations $1.6B $2.1B $2.3B $2.4B $3.3B $3.9B $5.0B $4.9B $6.2B $8.8B
Capital expenditure $102M $38.0M $76.0M $59.0M $53.0M $157M $210M $191M $84.0M $175M
Free cash flow $1.5B $2.1B $2.2B $2.4B $3.2B $3.7B $4.8B $4.7B $6.1B $8.7B
Depreciation and amortization $216M $234M $205M $195M $312M $603M $643M $642M $653M $672M
Stock-based compensation $326M $382M $401M $435M $753M $1.3B $1.7B $1.9B $2.0B $2.1B
Acquisitions $0.0M $363M $64.0M $0.0M $3.1B $5.7B $33.0M $83.0M $184M $0.0M
Share buybacks $839M $272M $556M $323M $1.0B $1.9B $2.0B $2.0B $2.8B $5.4B
Dividends paid $353M $407M $501M $561M $646M $774M $889M $1.0B $1.2B $1.3B
Dividends and buybacks $1.2B $679M $1.1B $884M $1.7B $2.6B $2.9B $3.0B $4.0B $6.8B
Balance sheet
Cash and short-term investments $777M $1.7B $2.7B $7.1B $3.9B $3.3B $3.7B $4.1B $4.6B $7.2B
Total debt $438M $388M $386M $2.0B $2.0B $6.9B $6.1B $6.0B $6.0B $7.7B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.4B $2.4B $3.6B $8.0B $5.2B $5.0B $5.6B $9.7B $14.1B $15.3B
Current liabilities $1.9B $1.7B $2.0B $3.5B $2.7B $3.6B $3.8B $7.5B $10.4B $10.2B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $1.0B $812M $780M $734M $780M $888M $969M $1.0B $961M $1.0B
Total assets $4.1B $5.1B $6.3B $10.9B $15.5B $27.7B $27.8B $32.1B $37.0B $36.8B
Total liabilities $2.7B $2.3B $2.5B $5.8B $5.6B $11.3B $10.5B $13.7B $17.2B $17.8B
Shareholders' equity $1.7B $2.8B $3.7B $5.1B $9.9B $16.4B $17.3B $18.4B $19.7B $19.0B
Margins
Gross margin 97.7% — — — — — — — — —
Operating margin 27.3% 25.9% 27.3% 28.3% 26.0% 20.2% 21.9% 22.3% 26.1% 27.4%
EBITDA margin 31.5% 29.8% 30.4% 30.9% 29.2% 24.9% 26.3% 26.2% 29.6% 30.6%
Net margin 19.0% 22.1% 23.0% 23.8% 21.4% 16.2% 16.6% 18.2% 20.6% 21.3%
FCF margin 28.8% 34.4% 33.1% 30.7% 33.2% 29.3% 33.7% 28.8% 32.5% 40.4%
Returns
Return on capital 88.9% 93.0% 106.5% — 49.6% 14.9% 12.6% 15.1% 19.0% 22.0%
Return on capital employed 68.8% 56.6% 48.1% 37.1% 24.7% 13.9% 13.1% 14.9% 19.2% 22.1%
Return on equity 61.7% 58.9% 47.4% 41.2% 27.5% 15.7% 14.1% 16.6% 20.3% 23.6%
Return on assets 23.7% 28.9% 27.3% 21.2% 15.6% 9.6% 8.6% 9.9% 11.2% 12.4%
Growth
Revenue growth 10.7% 16.0% 12.6% 13.2% 25.5% 32.1% 12.9% 13.3% 15.6% 13.9%
Net income growth 0.6% 34.9% 17.2% 17.3% 12.9% 0.2% 15.4% 24.3% 30.6% 18.0%
EPS growth 2.4% 34.7% 15.7% 17.5% 9.3% −3.7% 15.7% 23.9% 31.1% 20.4%
FCF growth 43.4% 38.5% 8.4% 4.8% 35.8% 16.7% 29.6% −3.0% 30.5% 41.5%
Share count change −1.5% 0.0% 1.2% 0.0% 3.4% 4.0% −0.4% 0.4% −0.4% −2.1%
Financial health
Net debt / EBITDA −0.2x −0.7x −1.1x −2.1x −0.7x 1.1x 0.7x 0.5x 0.3x 0.1x
Debt / equity 0.3x 0.1x 0.1x 0.4x 0.2x 0.4x 0.4x 0.3x 0.3x 0.4x
Interest coverage 45.7x 78.0x 123.6x 155.4x 86.2x 31.7x 12.7x 15.0x 19.9x 23.0x
Current ratio 0.7x 1.4x 1.8x 2.3x 1.9x 1.4x 1.5x 1.3x 1.4x 1.5x
Quick ratio 0.7x 1.4x 1.8x 2.3x 1.9x 1.4x 1.5x 1.3x 1.4x 1.5x
Capital allocation
Capex / revenue 2.0% 0.6% 1.1% 0.8% 0.6% 1.2% 1.5% 1.2% 0.5% 0.8%
Stock comp / revenue 6.3% 6.3% 5.9% 5.7% 7.8% 10.3% 11.9% 11.9% 10.5% 9.6%
Payouts / FCF 79.6% 32.7% 47.0% 37.5% 51.6% 70.6% 59.1% 64.4% 64.7% 78.0%
Quality scores
Piotroski F-score 9.0 8.0 5.0 5.0 4.0 3.0 6.0 6.0 7.0 6.0
Altman Z'' 8.0 9.6 10.2 8.2 6.6 4.1 4.7 4.3 4.5 4.8
Accruals ratio −14.8% −17.0% −13.4% −6.8% −9.0% −8.4% −9.6% −6.4% −6.8% −11.6%

Source: SEC EDGAR XBRL filings (CIK 0000896878). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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