# Intuit Inc. (INTU) — Financial Analysis

**Exchange:** NASDAQ  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/INTU/thesis · /stocks/INTU/memo

## Financial Snapshot

---
ticker: INTU
step: 04
generated: 2026-05-12
source: quick-research
---

### Intuit Inc. (INTU) — Financial Snapshot

(Intuit's fiscal year ends in late July; FY2025 = year ending ~July 2025.)

#### Income Statement Summary

| Metric | FY2023 | FY2024 | FY2025 | YoY (FY25) |
|--------|--------|--------|--------|------------|
| Revenue | $14.4B | $16.3B | $18.8B | +16% |
| GAAP Operating Margin | ~24% | ~22% | 26.1% | +400 bps |
| GAAP Operating Income | $3.6B | $3.6B | $4.9B | +36% |
| Non-GAAP Operating Income | $5.7B | $6.4B | $7.6B | +18% |
| GAAP EPS | $7.81 | $10.45 | $13.67 | +31% |
| Non-GAAP Diluted EPS | $14.40 | $16.94 | $19.94 | +18% |

#### Segment Detail (FY2025)

| Segment | FY25 Revenue | YoY |
|---------|--------------|-----|
| Global Business Solutions Group | ~$11B+ | +18% |
| Online Ecosystem (within GBSG) | $2.2B | +21% |
| Consumer (TurboTax + Live) | ~$4.4B+ | +9% |
| Credit Karma | $2.3B | +32% |
| ProTax | ~$0.6B | mid-single-digit |
| **Combined Platform Revenue** | **$14.9B** | **+19%** |

#### Cash Flow & Capital Allocation (FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$6.5B |
| Free Cash Flow | ~$6.0B |
| Share Repurchases | $2.8B |
| New Buyback Authorization | $5.3B total ($3.2B added) |
| Q1 FY26 Dividend Hike | $1.04 → $1.20 (+15%) |
| Annual Dividend (FY26) | $4.80 |
| Dividend Yield | ~0.7% |
| Cash & Investments | ~$5B |
| Total Debt | ~$6B |

#### FY2026 Guidance

| Metric | 2026 Guide |
|--------|-----------|
| Revenue | $20.997–21.186B (+12–13%) |
| GAAP Operating Income | $5.782–5.859B (+17–19%) |
| GAAP EPS | $15.49–15.69 (+13–15%) |
| Non-GAAP Diluted EPS | $22.98–23.18 (+14–15%) |

#### Key Ratios (approximate)
- P/E: ~30x (FY26 non-GAAP midpoint) | EV/EBITDA: ~25x | FCF Yield: ~3.2%
- Revenue Growth (FY25): +16% | FCF Margin: ~32%
- GAAP Operating Margin: 26.1% (expanding)
- Non-GAAP Operating Margin: ~40%

#### Growth Profile
FY25 delivered the largest operating-margin expansion in years (+400 bps GAAP to 26.1%) on AI-driven productivity + Live tier mix shift + Credit Karma reacceleration (+32%). The strategic narrative is the **AI-native pivot**: Intuit Assist + GenOS positioning Intuit as the agentic financial-services platform for SMB and consumer. FY26 guide of +12–13% revenue + +14–15% non-GAAP EPS confirms ongoing double-digit growth with operating leverage.

Credit Karma's +32% growth in FY25 was the standout — after several lackluster quarters in FY22–23 (driven by tightening credit cycles in lending), the +32% recovery signals the recommendation engine is now reaching efficient scale, with strong AI-driven personalization driving conversion rates higher.

#### Forward Estimates
FY2026 Guide:
- Revenue: $20.997–21.186B (+12–13%)
- Non-GAAP EPS: $22.98–23.18 (+14–15%)

Bull case: Intuit Assist drives faster Live tier conversion than expected; Credit Karma sustains 25%+ growth; Mailchimp integration deepens; QuickBooks Online subscriber count hits 10M+ by FY27; non-GAAP EPS reaches $27+ in FY27. Bear case: H&R Block AI Tax Assist (free across paid tiers) compresses TurboTax pricing power; Credit Karma growth decelerates as recommendation TAM matures; new AI-native SMB accounting upstarts erode QuickBooks share. Consensus targets ~$680–740 vs. trading ~$640–680 (~5–15% implied upside).

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/INTU/fundamental

## Navigation

- Overview: /stocks/INTU
- Financials (this page): /stocks/INTU/financials
- Thesis: /stocks/INTU/thesis
- Investment Memo: /stocks/INTU/memo
- Coverage universe: /stocks