One-glance verdict
Undervalued
$676.91 our estimate vs market $332.70
Wall Street consensus: $405.60 (-40.1% lower than our fair-value estimate)
51% below our estimate, below the bear case
Fundamentals snapshot
Intuit Inc.
INTU · NMS · Technology · Software - Application
Current price
$332.70
52-week range
$252.84 - $705.08
Market cap
$91.01B
Balance sheet
Healthy
19.99x Strong cushion
Net debt $1.14B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 11.1% last year.
- Reward Returns 23.6% on equity, ahead of 60% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Operating margin compressed from 20.1% to 17.6% over 3 years.
What this company does
Intuit Inc.
Intuit makes popular financial software you've likely heard of, like TurboTax for personal taxes, QuickBooks for small business accounting, and Credit Karma for checking credit scores. The company's money comes mainly from selling subscriptions to these tools, which creates reliable recurring revenue (predictable income from customers who pay on a regular schedule, like a Netflix plan). This is important because it keeps customers using their interconnected family of products, leading to very stable and predictable sales for the business.
How the company got here
Intuit was started in 1983 by Scott Cook and Tom Proulx after Cook saw his wife struggling to pay their bills by hand and figured a personal computer could make it easier. Their first product was Quicken, a program for managing personal finances. Realizing that many small businesses were using this personal software for their companies, Intuit launched QuickBooks in 1992 to specifically serve them. A year later, the company went public (offered shares of stock to the public for the first time) and acquired the company that made TurboTax, cementing its place in both personal and business finance software.
What it actually does
Intuit is a financial technology company that makes software to help individuals and businesses manage their money. You might recognize their main products: TurboTax for preparing and filing taxes, QuickBooks for small business accounting, Credit Karma for checking your credit scores, and Mailchimp for email marketing. The company's goal is to simplify the tasks of bookkeeping, tax preparation, and overall financial management. More than 95% of its business comes from within the United States.
Small Business and Self-Employed Group
This is Intuit's largest segment, making up more than half of its revenue (the total money a company brings in from sales). It's centered around the QuickBooks software, which helps small and medium-sized businesses manage their accounting, payroll (paying employees), and process payments. This division also includes Mailchimp, a service that helps businesses with their marketing through email campaigns and customer relationship management (a way to track interactions with customers). Customers for this segment are freelancers, independent contractors, and small business owners who pay subscription fees for these online services.
Consumer Group
This part of the business focuses on individual people rather than companies and is a significant source of revenue. Its main product is TurboTax, which people use to prepare and file their personal income taxes online. The company makes money when customers pay to file their taxes through the software, with different prices for different levels of complexity and support. This segment also offers live assistance from tax experts for an additional fee.
Credit Karma
Intuit acquired Credit Karma in 2020, making it a key part of its business. This segment offers a free personal finance platform where people can check their credit scores and reports from two of the three major credit bureaus (the companies that collect and maintain credit information). Credit Karma makes money by recommending financial products like credit cards and loans to its users; when a user gets approved for one of these products, the bank or lender pays Credit Karma a commission. This service is free for consumers to use.
ProConnect Group
This is a smaller, more specialized segment that provides professional tax software for accountants and tax professionals. Products like ProConnect Tax Online, Lacerte, and ProSeries are designed for accounting firms to prepare and file tax returns for their clients. Intuit makes money by selling subscriptions to this software or on a pay-per-return basis. This segment essentially serves the experts who handle the finances of other people and businesses.
What management is betting on now
Intuit is heavily focused on becoming an "AI-driven expert platform." This means using artificial intelligence (AI) to automate financial tasks and provide personalized insights for its customers across all its products. The company is also focused on creating a unified platform where data from QuickBooks, TurboTax, and Credit Karma can work together to give customers a complete picture of their finances. A key part of this strategy is connecting people with human experts through services like TurboTax Live and QuickBooks Live, combining technology with a human touch.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$400.00M
FY2025 Q1
$329.00M
FY2025 Q2
$1.04B
FY2025 Q3
$4.36B
FY2025 Q4
$366.00M
FY2026 Q1
$599.00M
FY2026 Q2
$1.52B
FY2026 Q3
$5.24B
Revenue
$8.56B
Net income
$3.06B
Diluted EPS
11.09
Operating cash flow
$5.30B
Free cash flow
$5.24B
Fetching…
Sources
Revenue
$4.65B
Net income
$693.00M
Diluted EPS
2.48
Operating cash flow
$1.57B
Free cash flow
$1.52B
Fetching…
Sources
Revenue
$3.88B
Net income
$446.00M
Diluted EPS
1.59
Operating cash flow
$637.00M
Free cash flow
$599.00M
Fetching…
Sources
Revenue
$3.83B
Net income
$381.00M
Diluted EPS
1.28
Operating cash flow
$381.00M
Free cash flow
$366.00M
Fetching…
Sources
Revenue
$7.75B
Net income
$2.82B
Diluted EPS
10.02
Operating cash flow
$4.39B
Free cash flow
$4.36B
Fetching…
Sources
Revenue
$3.96B
Net income
$471.00M
Diluted EPS
1.67
Operating cash flow
$1.07B
Free cash flow
$1.04B
Fetching…
Sources
Revenue
$3.28B
Net income
$197.00M
Diluted EPS
0.70
Operating cash flow
$362.00M
Free cash flow
$329.00M
Fetching…
Sources
Revenue
$3.18B
Net income
$-20.00M
Diluted EPS
-0.09
Operating cash flow
$417.00M
Free cash flow
$400.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $676.91 vs current price $332.70
Wall Street consensus is the average analyst price target: $405.60 (-40.1% lower than our fair-value estimate).
Our most-likely fair value is $676.91 a share — about 103.5% above today's price of $332.70, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net debt $1.1B. Interest coverage 20.0x.
Net debt
$1.14B
Interest coverage
19.99x
Intuit Inc.'s profit covers its interest bill about 20.0 times over. which is stronger than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
INTU
BASELINE
Intuit Inc.
Total debt $8.34B Interest coverage 19.99x This is the baseline the peer rows are being compared against.
Total debt $7.08B Interest coverage 33.10x +66% vs INTU Carries about 1.7x more debt cushion than INTU.
Total debt $8.45B Interest coverage 79.30x +297% vs INTU Carries about 4.0x more debt cushion than INTU.
Total debt $3.77B Interest coverage 8.98x -55% vs INTU Carries about 2.2x less debt cushion than INTU.
What you should know
The case for and against INTU
3 Rewards
1 Risk
Rewards
-
Revenue grew 11.1% last year.
-
Returns 23.6% on equity, ahead of 60% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Operating margin compressed from 20.1% to 17.6% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
20.20x
Forward P/E
12.18x
P/B
4.76x
P/S
4.24x
EV/EBITDA
13.38x
PEG ratio
1.06x
Profitability
How much profit each dollar creates
Gross margin
81.0%
Operating margin
17.6%
Net margin
21.3%
ROE
23.6%
ROA
10.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.44x
Current ratio
1.51x
Quick ratio
0.78x
Total debt
$8.34B
Total cash
$7.20B
Growth
How the business has been compounding
Revenue TTM
$20.93B
Revenue 5Y CAGR
18.2%
EPS TTM
16.47
EPS 5Y CAGR
23.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$7.89B
Free CF TTM
$6.12B
FCF margin
29.3%
Dividend
Shareholder payout
Yield
1.7%
Payout ratio
29.2%
Last ex-div date
2026-10-08