Intuit (INTU)
Information Technology · $90.4B market cap · SEC CIK 0000896878
ahead of 84% of the S&P 500 · #14 of 73 in Information Technology
Next reports on Nov 19, 2026, with analysts expecting $2.71 in earnings per share.
52-week range $252.84 to $682.27. 50% below its 52-week high and 35% above its low.
The case for INTU
- Cheap for its growth: 19.8× earnings, where 16% a year of growth plus a 0.6% dividend would justify about 33×.
- Generated $8.7B of free cash flow in FY2026, 40% of revenue.
- 21% of revenue drops through to net profit.
- Free cash flow of 9.6% of its market value a year: a lot of cash for the price.
- Revenue growing 13.9% year over year.
- Has compounded revenue at 17.4% a year over five years.
The case against
- Down 47.9% over the past year.
- Its weakest area is the price trend (26/100): −47.9% over a year, +1.1% over three months, 50% below its 52-week high.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Information Technology companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings and cash, against the growth you get | 85 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 71 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 71 |
| Momentumhow the price has behaved lately | 26 |
| Stabilityhow violently it moves, what it owes and what it pays you | 68 |
- Each factor except momentum is half fixed thresholds, half rank among the 73 Information Technology companies.
The financials
Revenue growth
Is the business growing? Yes
| Last 12 months | +13.9% |
|---|---|
| Over 5 years | +17.4% a year |
| FY2026 revenue | $21.4B (+14%) |
Free cash flow
Is it generating real cash? Yes, plenty
| FY2026 free cash flow | $8.7B |
|---|---|
| Of revenue | 40% |
| Of profit | 190% |
Profit margins
Is profitability improving? Holding steady
| Gross margin | 80% |
|---|---|
| Operating margin | 27% |
| Net margin, FY25 → FY26 → now | 20.5% → 21.3% → 21.3% |
Debt vs. cash
Is the balance sheet healthy? Yes, the debt is manageable
| Cash | $4.7B |
|---|---|
| Long-term debt | $6.4B |
| Net debt | $1.7B |
| Years to repay | 0.7 yrs |
Valuation
Is the stock price reasonable? Yes, it looks cheap
| P/E | 19.8× |
|---|---|
| Fair P/E for its growth | 33× |
| P/FCF | 10.4× |
| Forward P/E | 13.9× |
| EV / EBITDA | 14.7× |
At 19.8× earnings it trades well below the 33× that 16% a year of growth plus a 0.6% dividend would justify. At 10.4× free cash flow it trades well below that same mark.
The financials, five years deep
Pulled from Intuit's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue growth | |||||
| Revenue | $21.4B | $18.8B | $16.3B | $14.4B | $12.7B |
| Change on the year | +14% | +16% | +13% | +13% | — |
| Free cash flow | |||||
| Free cash flow | $8.7B | $6.1B | $4.7B | $4.8B | $3.7B |
| Of revenue | 40% | 33% | 29% | 34% | 29% |
| Profit margins | |||||
| Operating margin | 27.4% | 26.1% | 22.3% | 21.9% | 20.2% |
| Net margin | 21.3% | 20.5% | 18.2% | 16.6% | 16.2% |
| Debt vs. cash | |||||
| Cash | $4.7B | $2.9B | $3.6B | $2.8B | $2.8B |
| Long-term debt | $6.4B | $6.0B | $5.5B | $6.1B | $6.4B |
| Net cash (debt) | −$1.7B | −$3.1B | −$1.9B | −$3.3B | −$3.6B |
What Intuit says it does
BACKGROUND Overview and Mission Intuit is a global financial technology platform with a mission to power prosperity around the world. Serving approximately 93 million consumers, small and mid-market businesses, and accountants worldwide, Intuit’s platform brings the power of artificial intelligence (AI) and human intelligence together to fuel customers’ success. With TurboTax, Credit Karma, QuickBooks, Mailchimp, Intuit Enterprise Suite, and Intuit Accountant Suite, we help put more money in customers’ pockets, save them time by eliminating work, and help ensure that they have complete confidence in every financial decision they make. Our strategy is to be an AI-driven expert platform that brings together data, AI, and human tax and financial experts into a single system of intelligence that does the work for customers. We are creating done-for-you experiences by automating everyday tasks, managing complex workflows and processes, and…
Risk factors INTU lists in its 10-K
- We face intense competitive pressures that may harm our operating results
- Future revenue growth depends upon our ability to adapt to technological change and successfully extend our platform, introduce new and enhanced products, features, services and business models
- We rely on intellectual property in our products and services
- Our intellectual property rights are valuable, and any inability to protect them could reduce the value of our products, services and brand
- Our business depends on our strong reputation and the value of our brands
- Our efforts related to sustainability matters expose us to risks that could adversely affect our reputation and performance
- Our acquisition and divestiture activities may disrupt our ongoing business, may involve increased expenses and may present risks not contemplated at the time of the transactions
- Security incidents, improper access to or disclosure of our data or customers’ data, or other cyberattacks on our systems could harm our reputation, business, and financial condition
- A cybersecurity incident affecting the third parties we rely on could expose us or our customers to a risk of loss or misuse of confidential information and significantly damage our reputation
- Concerns about the broader cybersecurity environment could deter current and potential customers from adopting our products and services and damage our reputation
- If we fail to process transactions effectively or fail to adequately protect against disputed or potential fraudulent activities, our business may be harmed
- Business interruption or failure of our information technology and communication systems may impair the availability of our products and services, which may damage our reputation and harm our future financial results
- If we are unable to develop, manage and maintain critical third-party business relationships, our business may be adversely affected
- Competition for our key employees is intense and we may not be able to attract, retain and develop the highly skilled employees we need to support our strategic objectives
- Uncertainty in the development, deployment, and use of artificial intelligence in our platform and products and by our customers may result in harm to our business and reputation
- If we experience significant product accuracy or quality problems or delays in product launches, it may harm our revenue, earnings and reputation
- Our international operations are subject to increased risks which may harm our business, operating results, and financial condition
- Climate change may have an impact on our business
- Increasing and changing regulation of our businesses may adversely affect our ability to operate or harm our operating results
- Complex and evolving privacy and data protection regulations or changing customer expectations could result in claims, changes to our business practices, penalties or increased cost of operations or otherwise harm our business
- We are frequently a party to litigation and regulatory inquiries which could result in an unfavorable outcome and have an adverse effect on our business, financial condition, results of operation and cash flows
- Third parties claiming that we infringe their proprietary rights may cause us to incur significant legal expenses and prevent us from selling our products
- We are subject to risks associated with information disseminated through our services
- The results of operations of our tax business may fluctuate from period to period due to the seasonality of the business and other factors beyond our control
- If actual customer refunds for our offerings exceed the amount we have reserved, our future financial results may be harmed
- Unanticipated changes in our income tax rates or other indirect tax may affect our future financial results
- Adverse global macroeconomic conditions could harm our business and financial condition
- We provide access to capital to small and mid-market businesses and consumers, which exposes us to risk, and may cause us material financial or reputational harm
- Amortization of acquired intangible assets and impairment charges may cause significant fluctuation in our net income
- We have incurred indebtedness and may incur other debt in the future, which may adversely affect our financial condition and future financial results
- We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term stockholder value
- Our stock price may be volatile and your investment could lose value