Compare · Technology
Intuit vs. Salesforce: how they make money
The same facts for both companies, in the same order, from each company's own page and filings. This is not a ranking and says nothing about which share to own.
Each company in 5 points
Intuit
1 · What it sells
Intuit sells TurboTax tax software, QuickBooks accounting software and Credit Karma's personal finance service to consumers, small businesses and accountants, with revenue of $21.4 billion in FY2026.
Sources and detail on the Intuit page2 · Who pays it
In FY2026 businesses and accountants paid 60% of Intuit's revenue through Global Business Solutions (QuickBooks, payments, payroll, Mailchimp), and consumers, accountants and Credit Karma's lending partners paid 40% through the Consumer segment.
Sources and detail on the Intuit page3 · What it keeps from $100
Of every $100 that came in during FY2026 Intuit kept $21.2 as net income, which includes $180 million of net gains on long-term investments, and its operating income was $5,884 million, or $27.4 per $100 of revenue.
Sources and detail on the Intuit page4 · Where the operating profit comes from
In FY2026 Global Business Solutions earned $9,887 million of segment operating income and the Consumer segment $6,308 million, before $10,311 million of stock-based pay, amortization, restructuring and other costs kept at corporate level.
Sources and detail on the Intuit page5 · The one thing to watch
TurboTax US units fell 2% to 39.0 million in FY2026 while TurboTax revenue rose 7% to $5,296 million.
Sources and detail on the Intuit page
Salesforce
1 · What it sells
Salesforce sells subscriptions to cloud software for sales, customer service, marketing, data and Slack, with $41.5 billion of revenue in FY2026.
Sources and detail on the Salesforce page2 · Who pays it
In FY2026, customer service software brought in 23.6% of revenue, sales software 21.7%, the platform and Slack 21.4%, integration and analytics 15.0%, marketing and commerce 13.1% and professional services 5.1%.
Sources and detail on the Salesforce page3 · What it keeps from $100
Of every $100 that came in during FY2026, Salesforce kept $17.5 as net income, which includes $1.0 billion of gains on investments, and operating income was $20.06 per $100 of revenue.
Sources and detail on the Salesforce page4 · Where the operating profit comes from
Salesforce reports one operating segment and no profit by product, but subscriptions and support were 94.9% of its FY2026 revenue.
Sources and detail on the Salesforce page5 · The one thing to watch
Net debt was $27.9 billion at Jul 31, 2026, against net cash of $5.6 billion at Jan 31, 2025, and interest expense was $473 million in Q2 FY2027, up from $67 million a year earlier.
Sources and detail on the Salesforce page
Where each $100 went
Each company's own receipt for its latest full fiscal year, with matching lines in the same order where both have them.
Intuit
Where $100 went · FY2026
| Sales and marketing | $25.6 |
|---|---|
| Research and development | $15.6 |
| Running the service (cost of revenue) | $19.7 |
| General and administrative | $7.5 |
| Amortization of acquired intangibles and restructuring | $3.6 |
| Income tax | $6.7 |
| Kept as net income | $21.2 |
| Total | $100 |
Cityfort calculation from the FY2026 10-K. Of every $100 that came in during FY2026: revenue of $21,448 million plus $133 million of interest and other income, net of interest expense. The lines are rounded, so they add up to $99.9. Stock-based pay ($2,056 million) sits inside the cost lines. Measured on revenue alone, operating income was $27.4 per $100.
Salesforce
Where $100 went · FY2026
| Sales and marketing | $33.6 |
|---|---|
| Research and development | $14.0 |
| Delivering the software | $21.7 |
| Administration and restructuring | $8.4 |
| Income tax | $4.8 |
| Kept as net income | $17.5 |
| Total | $100 |
Cityfort calculation from the FY2026 10-K. Of every $100 that came in during FY2026 (revenue plus other income): each line = line ÷ $42.71 billion × 100. Net income includes $1.0 billion of gains on investments, which are not part of operations; operating income was $20.06 per $100 of revenue.
Line items differ because each company groups its costs its own way in its filings. Only on Intuit's receipt: Running the service (cost of revenue); General and administrative; Amortization of acquired intangibles and restructuring. Only on Salesforce's receipt: Delivering the software; Administration and restructuring.
Revenue, net income and free cash flow
Up to five fiscal years for each company, drawn on one shared scale per measure. Amounts in US$ as reported (GAAP).
Revenue
Intuit
Salesforce
See the numbers
Net income
Intuit
Salesforce
See the numbers
Free cash flow
Intuit
Salesforce
See the numbers
Who pays each company
Intuit
- Consumers filing taxes (TurboTax) · 24.7% of revenueFees for TurboTax software, expert help, e-filing and money products such as early refund access: $5,296 million, 24.7% of FY2026 revenue.
- Small and mid-market businesses (QuickBooks Online Accounting) · 23.5% of revenueSubscriptions to QuickBooks Online and Intuit Enterprise Suite: $5,051 million, 23.5% of FY2026 revenue.
- Businesses using online services · 22.7% of revenueFees for payments, payroll, bill pay, capital and Mailchimp: $4,867 million, 22.7% of FY2026 revenue.
- QuickBooks Desktop users · 13.7% of revenueDesktop subscriptions, services and supplies: $2,946 million, 13.7% of FY2026 revenue.
- Banks, card issuers, lenders and insurers (Credit Karma) · 12.3% of revenueFees paid when Credit Karma members are approved for cards and loans, or click and apply for home loans and insurance: $2,641 million, 12.3% of FY2026 revenue.
- Professional accountants (ProTax) · 3.0% of revenueTax preparation software and e-filing for accounting firms: $647 million, 3.0% of FY2026 revenue.
Salesforce
- Buyers of customer service software · 23.6% of revenueAgentforce Service subscriptions: $9.8 billion, 23.6% of FY2026 revenue, up 8.4% from FY2025.
- Buyers of sales software · 21.7% of revenueAgentforce Sales subscriptions: $9.0 billion, 21.7% of FY2026 revenue, up 8.5%.
- Buyers of the platform and Slack · 21.4% of revenueAgentforce 360 Platform, Slack and Other: $8.9 billion, 21.4% of FY2026 revenue, up 22.6% including Informatica.
- Buyers of integration and analytics software · 15.0% of revenueMuleSoft, Tableau and related products: $6.2 billion, 15.0% of FY2026 revenue, up 7.9%.
- Buyers of marketing and commerce software · 13.1% of revenue$5.4 billion, 13.1% of FY2026 revenue, up 2.8%.
- Buyers of professional services · 5.1% of revenueHelp setting up and using the software: $2.1 billion, 5.1% of FY2026 revenue, down from $2.2 billion in FY2025.
Revenue by segment
Intuit
FY2026
| Segment | Revenue | Share |
|---|---|---|
| Global Business Solutions | $12.9B | 60.0% |
| Consumer | $8.6B | 40.0% |
Salesforce
FY2026
| Segment | Revenue | Share |
|---|---|---|
| Agentforce Service | $9.8B | 23.6% |
| Agentforce Sales | $9.0B | 21.7% |
| Platform, Slack and Other | $8.9B | 21.4% |
| Integration and Analytics | $6.2B | 15.0% |
| Marketing and Commerce | $5.4B | 13.1% |
| Professional services | $2.1B | 5.1% |
Debt and cash
Intuit
- Debt
- $7.7B
- Cash and investments
- $7.2B
On Jul 31, 2026.
At Jul 31, 2026 Intuit's debt of $7,669 million was $469 million more than its cash and current investments of $7,200 million, and below one year of FY2026 cash from operations ($8,838 million).
Salesforce
- Debt
- $39.3B
- Cash and investments
- $11.4B
On Jul 31, 2026.
At Jul 31, 2026 Salesforce's debt exceeded its cash and marketable securities by $27.9 billion; at Jan 31, 2025 cash exceeded debt by $5.6 billion.
Who owns each company
Intuit
- One class of shares.
- Officers and directors as a group: 2.5% of shares (as of Oct 31, 2025).
- Vanguard Capital Management: 7.5% (as of Apr 30, 2026).
- Scott D. Cook: 2.2% (as of Oct 31, 2025).
- BlackRock, Inc.: 8.4% (as of Jan 25, 2024).
Salesforce
- One class of shares.
- Officers and directors as a group: 3.5% of shares (as of Mar 25, 2026).
- BlackRock, Inc.: 8.9% (as of Jan 26, 2024).
- Vanguard Capital Management: 7.4% (as of Mar 31, 2026).
- State Street Corporation: 6.0% (as of Oct 16, 2024).
Sources: Intuit S21, S30, S31, S1 · Salesforce S15, S5, S17, S18
Risks only one page tracks
Risks whose type the other company's page does not list. Both pages track risks of these types: competition, demand, legal cases, execution. Every risk is on each company's page.
Intuit
- Growing small business loan book (other)Intuit bought $6.2 billion of small business loans in FY2026, up from $1.8 billion in FY2024. Charge-offs were $185 million, up from $88 million in FY2025, and the allowance for loan losses was $134 million.
- Cash taxes rise in FY2027 (other)FY2026 cash from operations rose 42% to $8,838 million, helped by lower cash taxes after a US tax-law change that restored immediate expensing of research costs. Intuit said in its FY2026 10-K (Sep 9, 2026) that it expects about $2 billion of income tax payments in FY2027, mostly in the second half.
Salesforce
- Buyback paid for with debt (debt)Salesforce borrowed $25 billion in March 2026 to buy back shares. Net cash of $5.6 billion at Jan 31, 2025 became net debt of $27.9 billion at Jul 31, 2026 (Cityfort calculation from the FY2026 10-K and Q2 FY2027 10-Q). Interest expense was $473 million in Q2 FY2027. S&P's outlook in the March 2026 term sheet was negative.
- Investment gains swing net income (other)Q2 FY2027 net income of $3.5 billion includes a $2.6 billion gain, mostly upward revaluations of private company stakes. These stakes were carried at $11.3 billion at Jul 31, 2026. Salesforce reported losses on them in FY2023 to FY2025.
- Changes in senior leadership (governance)Salesforce has had a new CFO since March 2025, a new chief accounting officer since June 2026, and its President of engineering and customer success stepped down in August 2026. Marc Benioff is both chair and CEO.
Sources: Intuit S1 · Salesforce S20, S1, S5, S6, S21, S15, S26, S25
Key facts
- How does Intuit make money compared with Salesforce?
- Intuit's revenue by segment in FY2026: Global Business Solutions 60.0%, Consumer 40.0%. Salesforce's revenue by segment in FY2026: Agentforce Service 23.6%, Agentforce Sales 21.7%, Platform, Slack and Other 21.4%, Integration and Analytics 15.0%, Marketing and Commerce 13.1%, and 1 more.
- Which is bigger by revenue, Intuit or Salesforce?
- Intuit reported $21.4B of revenue in FY2026, and Salesforce reported $41.5B in FY2026. The two fiscal years end in different months.
- How much net income did Intuit and Salesforce report?
- Intuit reported net income of $4.6B in FY2026, and Salesforce reported $7.5B in FY2026.
- How much of every $100 did Intuit and Salesforce keep as net income?
- Intuit kept $21.2 of every $100 that came in during FY2026, and Salesforce kept $17.5 in FY2026 (Cityfort calculation from each company's annual report).
- How much debt and cash do Intuit and Salesforce have?
- Intuit had $7.7B of debt and $7.2B of cash and investments on Jul 31, 2026. Salesforce had $39.3B of debt and $11.4B of cash and investments on Jul 31, 2026.
- When do Intuit's and Salesforce's fiscal years end?
- Intuit: July 31 (FY2026 = year ended Jul 31, 2026). Salesforce: January 31.
Sources: Intuit S3, S1 · Salesforce S3, S4, S1, S7, S5, S6, S19, S20, S21
Built from each company's page. Intuit updated Nov 6, 2026; Salesforce updated Nov 6, 2026.
Sources
Intuit
- S1Form 10-K, fiscal 2026 (ended Jul 31, 2026), Intuit Inc. (SEC EDGAR), Sep 9, 2026
- S3Form 10-K, fiscal 2024 (ended Jul 31, 2024), Intuit Inc. (SEC EDGAR), Sep 4, 2024
- S21Definitive proxy statement (DEF 14A) for the Jan 22, 2026 annual meeting, Intuit Inc. (SEC EDGAR), Nov 26, 2025
- S30Schedule 13G: Vanguard Capital Management (event date Mar 31, 2026), Vanguard Capital Management (SEC EDGAR), Apr 30, 2026
- S31Schedule 13G/A: The Vanguard Group (event date Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 27, 2026
Salesforce
- S1Form 10-K, fiscal 2026 (ended Jan 31, 2026), Salesforce, Inc. (SEC EDGAR), Mar 2, 2026
- S3Form 10-K, fiscal 2024 (ended Jan 31, 2024), Salesforce, Inc. (SEC EDGAR), Mar 6, 2024
- S4Form 10-K, fiscal 2023 (ended Jan 31, 2023), Salesforce, Inc. (SEC EDGAR), Mar 8, 2023
- S5Form 10-Q, Q2 fiscal 2027 (ended Jul 31, 2026), Salesforce, Inc. (SEC EDGAR), Aug 27, 2026
- S6Q2 fiscal 2027 earnings release (8-K Ex. 99.1), Salesforce, Inc. (SEC EDGAR), Aug 26, 2026
- S7Q1 fiscal 2027 earnings release (8-K Ex. 99.1), Salesforce, Inc. (SEC EDGAR), May 27, 2026
- S152026 proxy statement (DEF 14A), Salesforce, Inc. (SEC EDGAR), Apr 16, 2026
- S17Schedule 13G: Vanguard Capital Management (event date Mar 31, 2026), Vanguard Capital Management (SEC EDGAR), Apr 30, 2026
- S18Schedule 13G/A: The Vanguard Group (event date Mar 13, 2026), The Vanguard Group (SEC EDGAR), Mar 27, 2026
- S19Form 8-K: $25 billion accelerated share repurchase, notes underwriting and five-year term loan (Items 1.01, 2.03), Salesforce, Inc. (SEC EDGAR), Mar 12, 2026
- S20Form 8-K: completion of $25 billion senior notes offering (Items 1.01, 2.03), Salesforce, Inc. (SEC EDGAR), Mar 13, 2026
- S21Free writing prospectus: pricing term sheet for senior notes (Mar 11, 2026), Salesforce, Inc. (SEC EDGAR), Mar 12, 2026
- S25Form 8-K: Srini Tallapragada steps down as President and Chief Engineering and Customer Success Officer (Item 5.02), Salesforce, Inc. (SEC EDGAR), Aug 5, 2026
- S26Form 8-K: Guy Wanger appointed Chief Accounting Officer (Item 5.02), Salesforce, Inc. (SEC EDGAR), Jun 2, 2026
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