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Technology · NASDAQ: INTU

Intuit: how the business works

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.

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Intuit Inc. · Mountain View, California · Founded 1984

Updated for Q4 FY2026 · checked

Revenue, FY2026
$21.4B
Net income, FY2026
$4,566M
Customers (FY2026 10-K)
About 93M
TurboTax US units, FY2026
39.0M
Employees, Jul 31, 2026
About 18,600

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

The short version

Intuit in 5 points

  1. 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.

    More: what it sells

  2. 2 · 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.

    More: who pays it

  3. 3 · 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.

    More: what it keeps from $100

  4. 4 · 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 payPay given as shares instead of cash, which spreads ownership more thinly. Learn more, amortization, restructuring and other costs kept at corporate level.

    More: where the operating profit comes from

  5. 5 · 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.

    More: the one thing to watch

Sources: From Intuit's FY2026 10-K and Q4 FY2026 earnings release · checked

See the full receipt and the management scorecard below

01Where the money goes · FY2026

Where does $100 of Intuit's money go?

Of every $100 that came in (revenue plus other income), this is where it went.

Intuit · FY2026

Receipt for every $100

Where $100 of Intuit's money went in FY2026
Sales and marketing$25.6
Running the service (cost of revenue)$19.7
Research and development$15.6
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

Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.

How this is worked out

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.

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02The business in one line

What does Intuit do?

Small businesses, consumers and accountants pay Intuit for QuickBooks, TurboTax and tax software, and lenders pay Credit Karma when its members get cards and loans; the biggest costs are marketing and running the service, and $21.2 of every $100 that came in during FY2026 was left as net income.

  • Global Business Solutions (QuickBooks, payments, payroll, Mailchimp) brought in $12,864 million, 60% of Intuit's FY2026 revenue; the Consumer segment (TurboTax, Credit Karma, ProTax) brought in $8,584 million, 40%.
  • Of every $100 that came in during FY2026, $25.6 went on sales and marketing, $19.7 on running the service and $15.6 on research and development.

03Who pays it

Who pays Intuit?

  • Consumers filing taxes (TurboTax)

    25%

    of revenue

    Fees 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)

    24%

    of revenue

    Subscriptions to QuickBooks Online and Intuit Enterprise Suite: $5,051 million, 23.5% of FY2026 revenue.

  • Businesses using online services

    23%

    of revenue

    Fees for payments, payroll, bill pay, capital and Mailchimp: $4,867 million, 22.7% of FY2026 revenue.

  • QuickBooks Desktop users

    14%

    of revenue

    Desktop subscriptions, services and supplies: $2,946 million, 13.7% of FY2026 revenue.

  • Banks, card issuers, lenders and insurers (Credit Karma)

    12%

    of revenue

    Fees 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%

    of revenue

    Tax preparation software and e-filing for accounting firms: $647 million, 3.0% of FY2026 revenue.

  • Consumers filing taxes (TurboTax)25%
  • Small and mid-market businesses (QuickBooks Online Accounting)24%
  • Businesses using online services23%
  • QuickBooks Desktop users14%
  • Banks, card issuers, lenders and insurers (Credit Karma)12%
  • Professional accountants (ProTax)3%

How spread out the customers are

Intuit sells to about 93 million consumers, small and mid-market businesses and accountants, according to its FY2026 10-K. The documents read for this page name no single customer that makes up a large share of revenue. Shares are Cityfort calculations from the FY2026 10-K.

04Why it makes money

Why does Intuit make money?

Intuit sells more services to the same customers at higher prices, and profit has grown faster than revenue.

From FY2022 to FY2026 revenue grew 13.9% a year and net income 21.9% a year (Cityfort calculation from the FY2024 and FY2026 10-Ks). In FY2026 online paying customers rose 3% while average revenue per customer rose 15%; the 10-K names higher effective prices among the reasons. Stock-based pay of $2,056 million was 9.6% of revenue.

Operating income per $100 of revenue

$20.2$27.4

FY2022 to FY2026

  1. A business signs up for QuickBooks, or a consumer files with TurboTax
  2. Intuit adds payments, payroll, loans or expert help on top
  3. Prices and services per customer rise (+15% revenue per online customer in FY2026)
  4. Credit Karma matches members with cards and loans and is paid per approval
  5. Cash from operations pays for buybacks, dividends and product work

↺ Step 5 feeds back into step 1.

05Business segments · FY2026

Which businesses make up Intuit?

  • Global Business Solutions

    60%

    QuickBooks (online and desktop), Intuit Enterprise Suite, payments, payroll, bill pay, QuickBooks Checking, small business loans and Mailchimp. Revenue rose 16% in FY2026; segment operating income was $9,887 million.

    Revenue $12.9B · Operating profit $9.9B

  • Consumer

    40%

    TurboTax ($5,296 million), Credit Karma ($2,641 million) and ProTax ($647 million); segment operating income was $6,308 million. The two segments earned $16,195 million of segment operating income in FY2026, before $10,311 million of stock-based pay, amortization, restructuring and other costs kept at corporate level, leaving GAAP operating income of $5,884 million.

    Revenue $8.6B · Operating profit $6.3B

How the mix changed

  • Global Business Solutions
  • Consumer

Revenue by segment, FY2022 to FY2026.

US$

See the numbers
How the mix changed (US$)
YearGlobal Business SolutionsConsumer
FY2022$6.5B$6.3B
FY2023$8.0B$6.3B
FY2024$9.5B$6.8B
FY2025$11.1B$7.8B
FY2026$12.9B$8.6B

06The numbers · Consolidated · US$

How has Intuit done?

Revenue

$21.4BFY2026

Revenue grew every year, from $12,726 million in FY2022 to $21,448 million in FY2026, and Q3 FY2026 (February to April, the US tax season) alone brought in $8,558 million.

US$

See the numbers
Revenue (US$)
PeriodRevenue (US$)
FY2022$12.7B
FY2023$14.4B
FY2024$16.3B
FY2025$18.8B
FY2026$21.4B
Q1 FY2025$3.3B
Q2 FY2025$4.0B
Q3 FY2025$7.8B
Q4 FY2025$3.8B
Q1 FY2026$3.9B
Q2 FY2026$4.7B
Q3 FY2026$8.6B
Q4 FY2026$4.4B

Net profit

$4.6BFY2026

Net income rose every year, from $2,066 million in FY2022 to $4,566 million in FY2026, while Q4 FY2026 net income fell 5% to $363 million after a $293 million restructuring charge.

US$

See the numbers
Net profit (US$)
PeriodNet profit (US$)EPS ($)
FY2022$2.1B$7.28
FY2023$2.4B$8.42
FY2024$3.0B$10.43
FY2025$3.9B$13.67
FY2026$4.6B$16.46
Q1 FY2025$197M$0.70
Q2 FY2025$471M$1.67
Q3 FY2025$2.8B$10.02
Q4 FY2025$381M$1.35
Q1 FY2026$446M$1.59
Q2 FY2026$693M$2.48
Q3 FY2026$3.1B$11.09
Q4 FY2026$363M$1.34

Profit kept per $100 of revenue

$21.3FY2026

Net income was $21.3 per $100 of revenue in FY2026, up from $16.2 in FY2022, after stock-based pay of $2,056 million, 9.6% of revenue and 45% of net income.

$ of profit per $100 of revenue (net margin)

See the numbers
Profit kept per $100 of revenue ($ of profit per $100 of revenue (net margin))
YearNet marginEBITDA margin
FY202216.2%26.1%
FY202316.6%27.5%
FY202418.2%27.1%
FY202520.5%30.4%
FY202621.3%31.4%

Free cash flow

$8.6BFY2026

Free cash flow (cash from operations minus $221 million spent on equipment and capitalized software) was $8,617 million in FY2026, helped by lower cash taxes after a US tax-law change; Intuit said in its FY2026 10-K (Sep 9, 2026) that it expects about $2 billion of tax payments in FY2027.

US$ · cash from operations minus spending on plants and equipment

See the numbers
Free cash flow (US$ · cash from operations minus spending on plants and equipment)
YearCash from operationsCapital spendingFree cash flow
FY2022$3.9B$229M$3.7B
FY2023$5.0B$260M$4.8B
FY2024$4.9B$250M$4.6B
FY2025$6.2B$124M$6.1B
FY2026$8.8B$221M$8.6B
See all yearly numbers
Intuit annual financials, FY2022–FY2026, US$
YearRevenueEBITDANet profitEPS ($)Operating cashCapexFree cash
FY2022$12.7B$3.3B$2.1B$7.28$3.9B$229M$3.7B
FY2023$14.4B$3.9B$2.4B$8.42$5.0B$260M$4.8B
FY2024$16.3B$4.4B$3.0B$10.43$4.9B$250M$4.6B
FY2025$18.8B$5.7B$3.9B$13.67$6.2B$124M$6.1B
FY2026$21.4B$6.7B$4.6B$16.46$8.8B$221M$8.6B

EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (July 31 (FY2026 = year ended Jul 31, 2026)). Net profit is the share belonging to the company's owners.

Download Intuit's yearly and quarterly numbers (CSV, with source ids)

Learn: Fiscal years that don't end in December: Nvidia's FY2027 explained · Stock-based compensation and dilution: pay that becomes shares

07Who runs it

Who runs Intuit, and did they deliver?

  • Sasan K. Goodarzi

    Chair and CEO · since 2019

    CEO since January 2019 and Chairman since January 2026. FY2025 total pay was $36,845,552, mostly stock and option awards.

  • Sandeep Aujla

    Chief Financial Officer · since 2023

    CFO since August 2023.

  • Scott D. Cook

    Founder and director

    Held 6,162,547 shares, 2.21%, through trusts on Oct 31, 2025.

  • Ashley Still

    Leads Mid-Market and Small Business · since 2026

    Took over after Marianna Tessel, EVP and General Manager of the Small Business Group, stepped down on May 31, 2026.

What they said, and what happened

3 delivered · 1 partly delivered · 2 too early to tell

  1. Said on Aug 21, 2025

    Intuit expected FY2026 revenue of $20.997–21.186 billion, up 12% to 13%.

    What happened

    Revenue was $21,448 million, up 14%, above the range. Intuit had raised it to $21.341–21.374 billion on May 20, 2026.

    Delivered
  2. Said on Aug 21, 2025

    Intuit expected FY2026 GAAP diluted EPS of $15.49–15.69.

    What happened

    GAAP diluted EPS was $16.46, after a $293 million restructuring charge that the range did not include.

    Delivered
  3. Said on Aug 21, 2025

    Intuit expected FY2026 Credit Karma revenue growth of 10% to 13% and TurboTax growth of 8%.

    What happened

    Credit Karma grew 20%; TurboTax grew 7%, after Intuit lowered its expectation to about 7% on May 20, 2026.

    Partly delivered
  4. Said on Mar 16, 2026

    Intuit said it intended to "substantially accelerate" share repurchases, with $3.5 billion of authorization remaining at Jan 31, 2026.

    What happened

    Intuit paid $3,625 million for buybacks from Feb 1 to Jul 31, 2026, against $1,787 million in the first half of FY2026 (Cityfort calculation from the Q2 FY2026 10-Q and the FY2026 10-K).

    Delivered
  5. Said on May 20, 2026

    Intuit estimated the cost of its 2026 restructuring plan at $300–340 million.

    What happened

    It recorded $293 million in Q4 FY2026, expects $315 million in total and said the plan would be substantially complete by Q1 FY2027.

    Too early to tell
  6. Said on Aug 25, 2026

    Intuit expected FY2027 revenue of $23,279–23,512 million and GAAP diluted EPS of $20.12–20.36, and Q1 FY2027 revenue of $4,294–4,313 million.

    What happened

    Q1 FY2027 ended Oct 31, 2026; Intuit's investor relations calendar lists its results call for Nov 19, 2026.

    Too early to tell

08What could go wrong

What could go wrong for Intuit?

  • Competition

    Price competition in tax filing

    TurboTax US units fell 2% to 39.0 million in FY2026, and management said TurboTax lost do-it-yourself customers to lower-cost providers. The 10-K also lists publicly funded tax preparation and general-purpose AI providers as competitors.

    Watch TurboTax units, and TurboTax revenue against the $5,377–5,453 million FY2027 range Intuit gave on Aug 25, 2026.

  • Demand

    One season carries most of the profit

    Q3 FY2026 (February to April) brought in $8,558 million of revenue and $4,020 million of the year's $5,884 million operating income. The 10-K says changes in the tax code and government programs could cut the number of returns filed.

    Watch TurboTax revenue and units in Q3 FY2027 results.

  • Other

    Growing small business loan book

    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.

    Watch Loan purchases, charge-offs and the allowance in each 10-Q.

  • Demand

    Credit Karma depends on lenders

    Banks, card issuers, lenders and insurers pay Credit Karma when its members take their products. The 10-K says some financial institutions have reduced or suspended their activity on the platform in the past.

    Watch Credit Karma revenue against the $2,919–2,973 million FY2027 range Intuit gave on Aug 25, 2026.

  • Legal

    Lawsuits

    Shareholder class actions filed in July and August 2026 allege misleading statements in 2025 and 2026, and a class action in Ontario, Canada was certified on Jul 24, 2026; Intuit expects to appeal it. Intuit says it cannot estimate losses.

    Watch The legal note in each 10-Q.

  • Execution

    Mailchimp is shrinking

    Mailchimp revenue fell from $1,287 million in FY2025 to $1,272 million in FY2026. Intuit said on Aug 25, 2026 that it expects $1,256–1,266 million in FY2027 and said in May 2026 it is reducing investment in Mailchimp.

    Watch Mailchimp's results as its own segment from FY2027.

  • Other

    Cash taxes rise in FY2027

    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.

    Watch Cash from operations in the FY2027 10-Qs.

09Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Revenue grew every year from FY2022 to FY2026, reaching $21,448 million, and net income rose from $2,066 million to $4,566 million.
  • Credit Karma revenue rose 20% to $2,641 million in FY2026, and QuickBooks Online Accounting 23% to $5,051 million.
  • Free cash flow was $8,617 million in FY2026, and Intuit paid $5,412 million for buybacks and $1,347 million in dividends.
  • Intuit's Jun 8, 2026 pricing term sheet states senior note ratings of A3 from Moody's and A from S&P, both stable.

What critics point to

  • TurboTax US units fell 2% to 39.0 million in FY2026, and management said price is now the main reason customers leave TurboTax.
  • Mailchimp revenue fell from $1,287 million in FY2025 to $1,272 million in FY2026, and Intuit is reducing its investment in it.
  • Goodwill and acquired intangibles were $18,623 million at Jul 31, 2026, 98% of stockholders' equity.
  • Shareholder class actions filed in July and August 2026 allege misleading statements in 2025 and 2026.
  • Lower cash taxes lifted FY2026 cash from operations; Intuit said in its FY2026 10-K (Sep 9, 2026) that it expects about $2 billion of tax payments in FY2027.

10What to watch next

What should you watch next at Intuit?

Next event

Q1 FY2027 results

Nov 19, 2026

Date confirmed by the company

Add to calendarAnnouncementAll earnings dates

  • Revenue against the company's Q1 FY2027 range

    Intuit said on Aug 25, 2026 that it expects $4,294–4,313 million, up 11%. Q1 FY2026 revenue was $3,885 million.

  • Adjusted figures now include stock-based pay

    From Q1 FY2027 Intuit's non-GAAPThe company's own "adjusted" numbers, not the official (GAAP) ones. Always read them next to the official figure. Learn more figures include stock-based pay, which was $2,056 million in FY2026, so they will not compare with earlier adjusted figures.

  • Cash taxes

    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, after lower cash taxes helped FY2026 cash from operations reach $8,838 million.

  • Small business loans

    Intuit bought $6.2 billion of small business loans in FY2026; charge-offs were $185 million, up from $88 million in FY2025.

11Key dates

What are the key dates for Intuit?

Dates as stated in the filings. A date that no filing has given yet shows as not yet stated.
Key dates for Intuit
EventDateSource
Q1 FY2027 results call4:30 p.m. ET, as listed on Intuit's investor relations calendar.Intuit investor relations calendar (Q1 fiscal 2027 results call, Nov 19, 2026)
Fiscal 2027 endsIntuit's fiscal year ends on Jul 31.Form 10-K, fiscal 2026 (ended Jul 31, 2026)
Unsecured revolving credit facility matures$2.2 billion, undrawn at Jul 31, 2026.Form 10-K, fiscal 2026 (ended Jul 31, 2026)

Learn: How to read a US earnings release: Nvidia's Q2 fiscal 2027 · Fiscal years that don't end in December: Nvidia's FY2027 explained

12Key facts

Key facts about Intuit

What does Intuit do?
Intuit Inc. sells TurboTax tax software, QuickBooks accounting and payments software, Credit Karma's personal finance service, Mailchimp marketing tools and ProTax software for accountants. Intuit had revenue of $21,448 million in FY2026 (year ended Jul 31, 2026) and served about 93 million consumers, small and mid-market businesses and accountants, according to its FY2026 10-K.
How does Intuit make money?
Intuit makes money from its software and online services, from payments, payroll and loans for small businesses, and from fees that lenders and card issuers pay Credit Karma when its members are approved. In FY2026 Intuit earned $5,296 million from TurboTax, $5,051 million from QuickBooks Online Accounting, $4,867 million from Online Services, $2,946 million from Desktop, $2,641 million from Credit Karma and $647 million from ProTax.
What is Intuit's business model?
Intuit sells software and online services, then adds payments, payroll, small business loans and expert help for the same customers. In FY2026 Intuit's Online Ecosystem revenue was $9,918 million, up 19%; average revenue per online customer rose 15% while online paying customers rose 3%.
Is Intuit profitable?
Yes. Intuit reported net income of $4,566 million in FY2026 (year ended Jul 31, 2026), up from $3,869 million in FY2025, and operating income of $5,884 million after a $293 million restructuring charge. Intuit reported net income in every year from FY2022 to FY2026.
What is Intuit's revenue by segment?
Intuit reports two segments. In FY2026 Global Business Solutions (QuickBooks, payments, payroll, Mailchimp) had revenue of $12,864 million, 60% of the total, and the Consumer segment (TurboTax, Credit Karma, ProTax) $8,584 million, 40%. From FY2027 Intuit reports Mailchimp, with $1,272 million of FY2026 revenue, as a separate segment.
Who are Intuit's customers?
Intuit serves about 93 million consumers, small and mid-market businesses and accountants, according to its FY2026 10-K. TurboTax counted 39.0 million US units in FY2026, and Intuit had 8.9 million online paying customers for QuickBooks Online, Mailchimp and related services at Jul 31, 2026, according to management. About 8% of Intuit's FY2026 revenue came from outside the US.
How much does Intuit earn from QuickBooks?
Intuit earned $5,051 million from QuickBooks Online Accounting in FY2026, up 23%, and $4,867 million from Online Services such as payments, payroll, capital and Mailchimp, up 16%. QuickBooks Desktop software, services and supplies added $2,946 million, up 6%.
How much does Intuit earn from TurboTax?
Intuit's TurboTax revenue was $5,296 million in FY2026, up 7% from $4,933 million in FY2025, while TurboTax US units fell 2% to 39.0 million. TurboTax Live, where an expert helps or files for the customer, grew 37% and was 53% of TurboTax revenue in FY2026, according to Intuit.
How much does Intuit earn from Credit Karma?
Intuit's Credit Karma revenue was $2,641 million in FY2026, up 20% from a recast $2,200 million in FY2025. Credit Karma is paid mainly a set fee when a member is approved for a credit card or a loan through it; personal loans, credit cards and insurance drove the FY2026 growth.
Who owns Intuit?
Vanguard Capital Management reported 7.53% of Intuit's shares (Schedule 13GA filing by anyone who owns more than 5% of a company's shares and does not seek control. Learn more, Mar 31, 2026). Intuit founder Scott D. Cook held 2.21% through trusts, and all of Intuit's directors and executive officers 2.49%, on Oct 31, 2025, according to the Nov 2025 proxy statementThe yearly filing about shareholder votes, the board and executive pay. Learn more. Intuit has one class of common stock with one vote per share.

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

Go deeper

More detail from the same filings. Open any section.

13What it sells

13What it sells

What does Intuit sell?

Intuit sells software and online services that handle money tasks: filing taxes, keeping a business's books, paying staff and taking card payments. Its Credit Karma app shows people their credit scores and recommends cards and loans.
  • QuickBooks Online and Intuit Enterprise Suite

    Online accounting software for small and mid-market businesses: invoices, bills, expenses and financial reports. QuickBooks Online Accounting brought in $5,051 million in FY2026.

  • Online Services: payments, payroll, capital and Mailchimp

    Card and bank payments, bill pay, payroll and HR, QuickBooks Checking, small business loans and Mailchimp email marketing. Online Services brought in $4,867 million in FY2026, including $1,272 million from Mailchimp.

  • QuickBooks Desktop

    Accounting software installed on a computer and sold by subscription, plus related services and supplies such as checks and tax forms: $2,946 million in FY2026.

  • TurboTax

    Tax filing for US and Canadian consumers, either do-it-yourself or with an expert who helps or files for them, plus early refund access and Credit Karma Money accounts: $5,296 million in FY2026.

  • Credit Karma

    An app with credit scores, credit monitoring and recommended cards, loans and insurance; partners pay Credit Karma when a member is approved or responds to an offer. $2,641 million in FY2026.

  • ProTax

    Tax preparation software for professional accountants in the US and Canada: Lacerte, ProSeries and ProConnect Tax Online. $647 million in FY2026.

What it does

  • Does: Sells mostly online software and services; about 8% of FY2026 revenue came from outside the US
  • Does: Buys small business loans from an originating bank partner and holds many of them on its own balance sheet
  • Does: Earns most of its tax revenue between November and April
  • Does: Pays a quarterly dividend and buys back shares

What it does not do

  • Does not: Does not take customer deposits itself: QuickBooks Checking and Credit Karma Money accounts are held at FDIC-member partner banks
  • Does not: Does not host most of its systems itself: Amazon Web Services and Google Cloud Platform do
  • Does not: Does not issue the cards and loans Credit Karma recommends: banks, card issuers and other lenders do
  • Does not: Does not report profit for Mailchimp, TurboTax or Credit Karma on their own
14How the money flows

14How the money flows · FY2026

How does money flow through Intuit?

Money in

  • Services (online software, payments, Credit Karma, e-filing)$18.9B
  • Products and other (desktop software and supplies)$2.5B
  • Interest and other income, net of $256 million interest expense$133M

The company

Intuit

$21.6B came in

Money out

  • Running the service (cost of revenue, incl. amortization of acquired technology)$4.3B
  • Sales and marketing$5.5B
  • Research and development$3.4B
  • General and administrative$1.6B
  • Amortization of other acquired intangibles and restructuring$778M
  • Income tax$1.5B
  • Net income$4.6B
  1. Customers paid Intuit $21,448 million in FY2026: $18,911 million for services and $2,537 million for products and other.
  2. Running the service, including amortization of acquired technology, cost $4,253 million, leaving gross profit of $17,195 million.
  3. Sales and marketing took $5,534 million, research and development $3,376 million, and general and administrative $1,623 million.
  4. After $485 million of amortization of other acquired intangibles and a $293 million restructuring charge, operating income was $5,884 million.
  5. Interest and other income of $389 million, including $180 million of net gains on long-term investments, exceeded $256 million of interest expense. After $1,451 million of income tax, net income was $4,566 million.
15What it needs to run

15What it needs to run

What does Intuit need to run?

  • People, including seasonal staff

    About 18,600 employees at Jul 31, 2026, plus about 12,300 seasonal employees from January to April in FY2026 for tax season. A plan announced in May 2026 cut the full-time workforce by about 17%.

  • Public cloud providers

    Amazon Web Services and Google Cloud Platform host most of Intuit's systems. Purchase obligations of $4.93 billion at Jul 31, 2026 were mainly a cloud services agreement.

  • Partner banks

    An originating bank partner makes QuickBooks Capital loans, which Intuit buys, and FDIC-member partner banks hold QuickBooks Checking and Credit Karma Money accounts.

  • Funding for small business loans

    Intuit bought $6.2 billion of small business loans in FY2026. Secured credit facilities, which do not give lenders a claim on Intuit itself, funded $970 million of them at Jul 31, 2026.

  • Financial partners for Credit Karma

    Credit bureaus, banks, card issuers, insurers and other lenders supply the offers Credit Karma shows its members and pay for the results.

16Competitors and what protects it

16Competitors and what protects it

Who does Intuit compete with?

Intuit's FY2026 10-K lists the kinds of competitors it faces, including business software makers, tax preparation services (private and publicly funded), banks, personal finance tools, consumer finance marketplaces and general-purpose AI providers, but names no company. Management said on Aug 25, 2026 that TurboTax lost do-it-yourself customers to lower-cost providers.
  • H&R Block

    NYSE: HRB

    H&R Block's FY2026 10-K (year ended Jun 30, 2026) describes assisted and do-it-yourself tax preparation, the two kinds TurboTax sells. 22.3 million returns were filed by or through H&R Block, and its revenue was $3,945.4 million. Neither company's 10-K names the other as a competitor.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Scale in US tax filing4 of 5

    TurboTax counted 39.0 million US units in FY2026 and earned $5,296 million of revenue.

  • Small business customer base4 of 5

    Online paying customers reached 8.9 million at Jul 31, 2026, according to management, and average revenue per online customer rose 15% in FY2026.

  • Pricing3 of 5

    The 10-K names higher effective prices among the reasons QuickBooks Online Accounting revenue grew 23% in FY2026, and as the reason Desktop revenue grew 6%.

Weak spot

Price-sensitive tax customers

Management said on Aug 25, 2026: "Price is now the number one reason customers leave TurboTax." TurboTax US units fell 2% to 39.0 million in FY2026.

17Where growth could come from

17Where growth could come from

Where could Intuit's growth come from?

Intuit said on Aug 25, 2026 that it expects FY2027 revenue of $23,279–23,512 million, up 9% to 10%, GAAP operating income of $7,408–7,490 million and GAAP diluted EPS of $20.12–20.36. It expects Mailchimp revenue of $1,256–1,266 million, between down 1% and flat, and Q1 FY2027 revenue of $4,294–4,313 million.
Management statement, Aug 25, 2026. Reported as a statement, not our forecast.
  • QuickBooks Online

    Working

    $5,051M, +23%

    QuickBooks Online Accounting revenue rose from $4,120 million in FY2025 to $5,051 million in FY2026; the 10-K names higher effective prices, customer growth and mix shift.

    Status: Working, on track against what the company said.

  • Credit Karma

    Working

    $2,641M, +20%

    Credit Karma revenue rose $441 million in FY2026, from personal loans (+$235 million), credit cards (+$101 million) and insurance (+$85 million). Intuit said on Aug 25, 2026 that it expects 11% to 13% growth in FY2027.

    Status: Working, on track against what the company said.

  • Assisted tax (TurboTax Live)

    Working

    +37% revenue in FY2026

    TurboTax Live revenue, where an expert helps or files for the customer, grew 37% and was 53% of TurboTax revenue in FY2026, according to Intuit.

    Status: Working, on track against what the company said.

  • Mid-market businesses

    Early

    Intuit Enterprise Suite >$145M annualized

    Management said on Aug 25, 2026 that mid-market revenue grew 39% in FY2026 and that Intuit Enterprise Suite reached over $145 million of annualized revenue in Q4 FY2026.

    Status: Early, too early to judge.

  • TurboTax units

    Mixed

    39.0M units, −2%

    TurboTax revenue rose 7% to $5,296 million in FY2026 while units fell from 39.9 million to 39.0 million. Intuit said on Aug 25, 2026 that it expects TurboTax revenue growth of 2% to 3% in FY2027.

    Status: Mixed, partly on track.

  • Mailchimp

    Behind

    $1,272M, −1%

    Mailchimp revenue was $1,267 million in FY2024, $1,287 million in FY2025 and $1,272 million in FY2026. The CEO told employees in May 2026 that Intuit is reducing its investment in Mailchimp.

    Status: Behind, behind the company's own plan.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

18The company's own measures (non-GAAP)

18The company's own measures · FY2026

What do Intuit's own measures show?

Adjusted (non-GAAP) figures and company measures are Intuit's own, shown next to the official (GAAP) number and never added together. From Q1 FY2027 Intuit's non-GAAP figures include stock-based pay, so its FY2027 non-GAAP operating income range of $8,063–8,145 million, given on Aug 25, 2026, does not compare with the FY2026 figure above.
  • Official (GAAP): Operating income, FY2026

    $5.9B

    Company's own measure: Non-GAAP operating income, FY2026

    $8.9B

    Intuit leaves out stock-based pay ($2,056 million), amortization of acquired technology and intangibles ($659 million), restructuring ($293 million) and executive deferred pay liabilities ($43 million).

  • Official (GAAP): Operating income, FY2025

    $4.9B

    Company's own measure: Non-GAAP operating income, FY2025

    $7.6B

    The same items left out, on the basis Intuit used through FY2026.

  • Official (GAAP): Net income, FY2026

    $4.6B

    Company's own measure: Non-GAAP net income, FY2026

    $6.7B

    Leaves out the same items and adjusts taxes and investment gains and losses.

  • Official (GAAP): Diluted EPS, FY2026

    $16.46

    Company's own measure: Non-GAAP diluted EPS, FY2026

    $24.27

    Non-GAAP net income per diluted share.

  • Official (GAAP): Online Ecosystem revenue, FY2026

    $9.9B

    Company's own measure: Online Ecosystem paying customers, Jul 31, 2026

    8.9 million

    Intuit counts QuickBooks Online paying customers, QuickBooks Time customers, Mailchimp paying customers and subscribers to standalone online services. The count rose 3%, according to the 10-K and management.

  • Official (GAAP): TurboTax revenue, FY2026

    $5.3B

    Company's own measure: TurboTax US units, FY2026

    39 million

    39.0 million, down 2% from 39.9 million in FY2025 as shown in the Aug 2026 release; the Aug 2025 release had given 39.2 million for FY2025.

  • Official (GAAP): Total revenue growth, FY2026

    13.9%

    Company's own measure: "Big Bets" revenue growth, FY2026 (as stated)

    34%

    Intuit's own grouping of assisted tax, money and mid-market offerings, which it says was 30% of FY2026 revenue. The GAAP growth figure is a Cityfort calculation from the FY2026 10-K.

These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.

Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out · Stock-based compensation and dilution: pay that becomes shares

19Financial strength and debt

19Financial strength · Jul 31, 2026

How much debt does Intuit have?

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).
  • Total debt$7.7B
  • Cash and investments$7.2B
  • Net debt (debt minus cash)$469M
  • Net worth (shareholders' money)$19.0B
Debt to equity
0.4×
$ of debt for every $1 of shareholders' money
Interest cover
23×
how many times operating profit covers interest
  • Net debt is a Cityfort calculation from the FY2026 10-K: total debt minus cash and cash equivalents ($4,705 million) and current investments ($2,495 million). Interest cover (operating income ÷ interest expense, 23 times) is a Cityfort calculation from the same 10-K.
  • Debt is $6,750 million of senior unsecured notes due from 2026 to 2053 plus $970 million drawn on secured facilities that fund small business loans and give lenders no claim on Intuit itself. The $750 million of notes due September 2026 were repaid in August 2026.
  • A $2.2 billion unsecured revolving credit facility, maturing Jan 9, 2031, was undrawn at Jul 31, 2026.
  • Goodwill ($13,981 million) and acquired intangible assets ($4,642 million), mostly from buying Credit Karma and Mailchimp, add up to $18,623 million, 98% of stockholders' equity.
  • Funds receivable and amounts held for customers ($5,038 million) are customers' money in transit, not Intuit's own cash.
  • Operating lease liabilities ($752 million) are not counted as debt here.
20Who owns it

20Who owns it · ownership as of Oct 31, 2025

Who owns Intuit?

Intuit has one class of common stock with one vote per share. Its 21 directors and executive officers held 6,943,198 shares, 2.49%, on Oct 31, 2025. The Nov 2025 proxy listed The Vanguard Group at 10.28% (Sep 30, 2025); The Vanguard Group's Schedule 13G/A filed Mar 27, 2026 reported 0% at Mar 13, 2026, and the Vanguard Capital Management filing is shown separately, not added to it.
Officers and directors (as a group), shares
2.5%
Share classes
Intuit share classes: shares outstanding (millions) and votes per share
ClassShares (millions)Votes per shareHeld by% of shares% of votesTraded
Common stock (267,236,000 shares outstanding on Aug 31, 2026 (FY2026 10-K cover), down from 278.5 million on Oct 31, 2025 after buybacks. Intuit has one class of common stock.)267.21–––Yes
Holders of 5% or more
Intuit holders of 5% or more, from the proxy statement or later Schedule 13G filings; each row shows its own date
HolderSharesVotesAs ofSourceNote
Vanguard Capital Management7.5%–Apr 30, 2026S3020,831,573 shares at Mar 31, 2026, as an investment adviser, per its Schedule 13G filed Apr 30, 2026.
Scott D. Cook2.2%–Oct 31, 2025S21Founder and director; 6,162,547 shares on Oct 31, 2025, held through trusts.
BlackRock, Inc.8.4%–Jan 25, 2024S2123,374,934 shares, as listed in the Nov 2025 proxy from a Schedule 13G/A filed Jan 25, 2024, so it may be out of date.

From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.

Insider trades · Form 4 data as of Nov 6, 2026

What did Intuit's insiders report trading?

Intuit's insiders made 98 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.

They reported 2 purchases (1,750 shares) and 118 sales (542,559.608 shares) in the open market or privately (codes P and S).

115 of the 118 sales were on forms with the Rule 10b5-1 plan box checked.

The same filings report 186 other share transactions (M: 146, F: 39, G: 1).

They also report 193 transactions in options, stock units or other derivatives.

Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.

P
a purchase in the open market or privately
S
a sale in the open market or privately
F
shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
M
exercise or conversion of an option or other derivative, exempt under Rule 16b-3
G
a bona fide gift

Code meanings: General Instruction 8 of Form 4 (SEC).

The latest 25 of 306 transactions
Intuit's insider transactions reported on Form 4 in the 12 months to Nov 6, 2026, newest filing first
InsiderTrade dateCodeSharesPriceHeld after10b5-1 boxFiling
Burton Eve BDirectorOct 31, 2026M115 A$0.002,078.757Not checkedForm 4, filed Nov 3, 2026
SZKUTAK THOMAS JDirectorOct 22, 2026M43 A$0.005,763Not checkedForm 4, filed Oct 23, 2026
DALZELL RICHARD LDirectorOct 22, 2026M52 A$0.0011,583Not checkedForm 4, filed Oct 23, 2026
Aujla SandeepEVP and CFOOct 1, 2026M346 A$0.007,087.8796Not checkedForm 4, filed Oct 5, 2026
Aujla SandeepEVP and CFOOct 1, 2026M349 A$0.007,436.8796Not checkedForm 4, filed Oct 5, 2026
Aujla SandeepEVP and CFOOct 1, 2026M290 A$0.007,726.8796Not checkedForm 4, filed Oct 5, 2026
Aujla SandeepEVP and CFOOct 1, 2026F505.799 D$275.717,221.0806Not checkedForm 4, filed Oct 5, 2026
Cozzens Tyler RalphEVP, Gen. Counsel & Corp. Sec.Oct 1, 2026M94 A$0.007,398.79Not checkedForm 4, filed Oct 5, 2026
Cozzens Tyler RalphEVP, Gen. Counsel & Corp. Sec.Oct 1, 2026M87 A$0.007,485.79Not checkedForm 4, filed Oct 5, 2026
Cozzens Tyler RalphEVP, Gen. Counsel & Corp. Sec.Oct 1, 2026M70 A$0.007,555.79Not checkedForm 4, filed Oct 5, 2026
Cozzens Tyler RalphEVP, Gen. Counsel & Corp. Sec.Oct 1, 2026F124.447 D$275.717,431.343Not checkedForm 4, filed Oct 5, 2026
Hanebrink AntonEVP, Corp Strategy and DevOct 1, 2026M251 A$0.0033,775.683Not checkedForm 4, filed Oct 5, 2026
Hanebrink AntonEVP, Corp Strategy and DevOct 1, 2026M224 A$0.0033,999.683Not checkedForm 4, filed Oct 5, 2026
Hanebrink AntonEVP, Corp Strategy and DevOct 1, 2026M190 A$0.0034,189.683Not checkedForm 4, filed Oct 5, 2026
Hanebrink AntonEVP, Corp Strategy and DevOct 1, 2026F344.804 D$275.7133,844.879Not checkedForm 4, filed Oct 5, 2026
Hilliard Caryl LynEVP, People and PlacesOct 1, 2026M110 A$0.0024,855.162Not checkedForm 4, filed Oct 5, 2026
Hilliard Caryl LynEVP, People and PlacesOct 1, 2026M87 A$0.0024,942.162Not checkedForm 4, filed Oct 5, 2026
Hilliard Caryl LynEVP, People and PlacesOct 1, 2026M150 A$0.0025,092.162Not checkedForm 4, filed Oct 5, 2026
Hilliard Caryl LynEVP, People and PlacesOct 1, 2026F178.186 D$275.7124,913.976Not checkedForm 4, filed Oct 5, 2026
Hotz Lauren DSVP, Chief Accounting OfficerOct 1, 2026M97 A$0.002,705.9242Not checkedForm 4, filed Oct 5, 2026
Hotz Lauren DSVP, Chief Accounting OfficerOct 1, 2026M87 A$0.002,792.9242Not checkedForm 4, filed Oct 5, 2026
Hotz Lauren DSVP, Chief Accounting OfficerOct 1, 2026M80 A$0.002,872.9242Not checkedForm 4, filed Oct 5, 2026
Hotz Lauren DSVP, Chief Accounting OfficerOct 1, 2026M1,132 A$0.004,004.9242Not checkedForm 4, filed Oct 5, 2026
Hotz Lauren DSVP, Chief Accounting OfficerOct 1, 2026F734.995 D$275.713,269.9292Not checkedForm 4, filed Oct 5, 2026
Goodarzi Sasan KDirector, Chairman and CEOOct 1, 2026M848.43 A$0.0031,868.004 (indirect: By Trust)Not checkedForm 4, filed Oct 5, 2026

Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Intuit's Form 4 filings on EDGAR.

Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades

21What it does with profit

21What it does with profit

What does Intuit do with its profit?

Intuit paid $1,347 million in dividends in FY2026 and declared $1.38 a share for Q1 FY2027, up 15%, paid Oct 16, 2026. The 10-K says it "currently expect[s] to continue to pay comparable cash dividends on a quarterly basis". $7.9 billion of buyback authorization remained at Jul 31, 2026.

Dividend per share

$4.80FY2026

Dividend paid for each share, by financial year.

$ per share

See the numbers
Dividend per share ($ per share)
YearDividend per shareShare of profit paid out
FY2022$2.72–
FY2023$3.12–
FY2024$3.60–
FY2025$4.16–
FY2026$4.80–
  • Buyback · Jul 31, 2022

    Bought back 3.8 million shares for $1.9 billion in FY2022; cash paid for buybacks was $1,861 million.

    $1.9B

  • Buyback · Jul 31, 2023

    Bought back 4.7 million shares for $2.0 billion in FY2023; cash paid was $1,967 million.

    $2.0B

  • Buyback · Jul 31, 2024

    Bought back 3.4 million shares for $2.0 billion in FY2024; cash paid was $1,988 million.

    $2.0B

  • Buyback · Jul 31, 2025

    Bought back 4.3 million shares for $2.8 billion in FY2025; cash paid was $2,772 million.

    $2.8B

  • Buyback · Jul 31, 2026

    Paid $5.41 billion for buybacks in FY2026 (cash flow); the 10-K says 13.4 million shares were bought for $5.5 billion. The board added $3.2 billion to the authorization on Aug 19, 2025 and $8.0 billion on May 7, 2026.

    $5.4B

  • Money raised · Jun 11, 2026

    Issued $1.75 billion of senior notes: $750 million at 4.950% due 2031 and $1,000 million at 5.500% due 2036. The $750 million of notes due September 2026 were repaid in August 2026 from this issue and cash.

    $1.8B

22Governance signals

22Governance signals

What do Intuit's governance filings show?

Auditor
Ernst & Young LLP, since 1990
Auditor changes
None in the period covered
Audit qualifications
None reported
Related-party dealings
Intuit's Nov 2025 proxy statement says there were no transactions over $120,000 with a related person who had a material interest since the start of FY2025, and none proposed. The Audit and Risk Committee reviews such transactions.
Credit rating
Moody's and S&P Global Ratings (as stated in Intuit's Jun 8, 2026 pricing term sheet) A3 (Moody's) / A (S&P) on senior notes (Stable), Jun 8, 2026

A credit rating describes the company's ability to repay debt. It is not a rating of the share.

Flags to know about

  • disclosure · Aug 1, 2025

    Segments reorganized twice

    From Aug 1, 2025 Intuit combined its Consumer, Credit Karma and ProTax segments into one Consumer segment and moved $606 million of FY2025 Credit Karma costs to corporate. From Aug 1, 2026 Mailchimp is a separate segment. Only recast figures compare.

  • disclosure

    TurboTax unit count restated

    The Aug 2025 earnings release gave 39.2 million TurboTax units for FY2025; the Aug 2026 release shows 39.9 million for FY2025, with no explanation in the documents read.

  • other · Mar 16, 2026

    Executives ended share-sale plans

    On Mar 16, 2026 Intuit said its founder and executive leadership team had terminated all pre-scheduled Rule 10b5-1An insider's trading plan, set up in advance, that buys or sells shares on a schedule. Learn more share-sale plans, and that it intended to speed up buybacks.

  • other · May 20, 2026

    17% workforce reduction

    On May 20, 2026 Intuit announced a plan to cut its full-time workforce by about 17% and wind down two offices, in Reno and Woodland Hills. It recorded $293 million of the expected $315 million cost in Q4 FY2026.

  • regulatory · Mar 20, 2026

    FTC free-filing case

    A January 2024 FTC order over Intuit's free-filing marketing, with no money penalty, was vacated by the Fifth Circuit on Mar 20, 2026. On Aug 31, 2026 Intuit moved to dismiss the FTC's remaining federal-court suit as moot; the FTC agreed not to oppose, and a decision was pending at the 10-K.

  • other · Jul 10, 2026

    Shareholder class actions

    Two shareholder class actions filed on Jul 10 and Aug 17, 2026 in federal court in Northern California allege that Intuit made misleading statements in 2025 and 2026. Intuit says it cannot estimate a range of loss.

  • other

    CEO pay of $36.8 million

    Sasan Goodarzi's FY2025 total pay was $36,845,552. At the Jan 22, 2026 annual meeting, 93.2% of votes cast for or against approved executive pay (Cityfort calculation from the 8-K filed Jan 27, 2026).

  • disclosure

    Adjusted figures change in FY2027

    From Q1 FY2027 Intuit's non-GAAP figures include stock-based pay, which was $2,056 million in FY2026, so they will not compare with earlier adjusted figures.

23What the market paid

23What the market paid · price as of Nov 5, 2026

What did the market pay for Intuit on Nov 5, 2026?

Price as of Nov 5, 2026 (shown for education; prices change daily).

Price as of Nov 5, 2026: Intuit closed at $354.84 on Nasdaq. Times 267.2 million shares outstanding on Aug 31, 2026, that is a market value of about $94.8 billion (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the FY2026 10-K). P/E, the share price divided by a year's earnings per share, was 21.6 on FY2026 diluted EPS of $16.46 (Cityfort calculation from the Nov 5, 2026 Nasdaq closing price and the FY2026 10-K).

Share price
$354.84
Market value (market cap)
$94.8B
P/E
21.6×

More price-based ratios · as of Nov 5, 2026

Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.

Shares used for the market value: 267.2 million ($354.84 × 267.2 million shares ≈ $94.8B). Source: Form 10-K, fiscal 2026 (ended Jul 31, 2026); Definitive proxy statement (DEF 14A) for the Jan 22, 2026 annual meeting

Source: INTU historical prices (closing price Nov 5, 2026); Form 10-K, fiscal 2026 (ended Jul 31, 2026)

24How it got here

24How it got here

How did Intuit get here?

  1. 1984

    Milestone

    Incorporated

    Intuit was incorporated in California in March 1984.

  2. 1993

    Milestone

    Listed on Nasdaq

    Intuit reincorporated in Delaware and completed its initial public offering in March 1993.

  3. 2020

    Business-model change

    Credit Karma bought

    Intuit bought Credit Karma on Dec 3, 2020, adding a personal finance app paid by lenders and card issuers.

  4. 2021

    Business-model change

    Mailchimp bought

    Intuit bought Mailchimp, an email marketing company, on Nov 1, 2021; cash paid for acquisitions was $5,682 million in FY2022.

  5. 2022

    Crisis

    $141 million state settlement

    In May 2022 Intuit settled with 50 states and the District of Columbia over free-filing marketing, paying $141 million without admitting wrongdoing.

  6. 2024

    Crisis

    FTC order

    The FTC issued an administrative order over Intuit's free-filing marketing in January 2024, with no money penalty. The Fifth Circuit vacated it on Mar 20, 2026.

  7. 2025

    Milestone

    Two segments

    From Aug 1, 2025 Consumer, Credit Karma and ProTax were combined into one Consumer segment, next to Global Business Solutions.

  8. 2026

    Business-model change

    Restructuring and job cuts

    On May 20, 2026 Intuit announced a plan to cut about 17% of its full-time workforce, reduce overlap between TurboTax and Credit Karma and reduce investment in Mailchimp.

  9. 2026

    Milestone

    Mailchimp reported separately

    From Aug 1, 2026 Mailchimp is its own segment, reported separately from FY2027.

25Sources and changes

Where every number on this page comes from

Sources (30 documents)
  1. S1Form 10-K, fiscal 2026 (ended Jul 31, 2026) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 9, 2026
  2. S2Form 10-K, fiscal 2025 (ended Jul 31, 2025) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 3, 2025
  3. S3Form 10-K, fiscal 2024 (ended Jul 31, 2024) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 4, 2024
  4. S4Form 10-K, fiscal 2023 (ended Jul 31, 2023) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 1, 2023
  5. S5Form 10-K, fiscal 2022 (ended Jul 31, 2022) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Sep 2, 2022
  6. S6Form 8-K: fiscal 2023-2025 results recast for the two-segment structure (Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 20, 2025
  7. S8Form 10-Q, Q2 fiscal 2026 (ended Jan 31, 2026) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 26, 2026
  8. S13Q4 and fiscal 2026 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 25, 2026
  9. S14Q3 fiscal 2026 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 20, 2026
  10. S15Q2 fiscal 2026 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 26, 2026
  11. S16Q1 fiscal 2026 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 20, 2025
  12. S17Q4 and fiscal 2025 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 21, 2025
  13. S18Q3 fiscal 2025 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 22, 2025
  14. S19Q2 fiscal 2025 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Feb 25, 2025
  15. S20Q1 fiscal 2025 earnings release (8-K Exhibit 99.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 21, 2024
  16. S21Definitive proxy statement (DEF 14A) for the Jan 22, 2026 annual meeting · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Nov 26, 2025
  17. S22Form 8-K: annual meeting vote results (Items 5.02, 5.07) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jan 27, 2026
  18. S23Form 8-K: Q3 fiscal 2026 results and restructuring plan (Items 2.02, 2.05, 7.01, 8.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 20, 2026
  19. S24Form 8-K Exhibit 99.02: CEO email to employees on the restructuring · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · May 20, 2026
  20. S25Form 8-K: departure of EVP and GM, Small Business Group (Item 5.02) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Apr 28, 2026
  21. S26Form 8-K: executives' Rule 10b5-1 sale plans terminated; repurchase intent (Item 7.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Mar 16, 2026
  22. S27Form 8-K: issue of $1.75 billion senior notes (Item 8.01) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 11, 2026
  23. S28Free writing prospectus: pricing term sheet for the 4.950% notes due 2031 and 5.500% notes due 2036 (ratings) · Intuit Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Jun 8, 2026
  24. S30Schedule 13G: Vanguard Capital Management (event date Mar 31, 2026) · Vanguard Capital Management (SEC EDGAR) · Tier 1: company or exchange filing · Apr 30, 2026
  25. S31Schedule 13G/A: The Vanguard Group (event date Mar 13, 2026) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 27, 2026
  26. S32Q4 fiscal 2026 earnings call prepared remarks · Intuit Inc. (investor relations) · Tier 1: company or exchange filing · Aug 25, 2026
  27. S33Q4 fiscal 2026 fact sheet · Intuit Inc. (investor relations) · Tier 1: company or exchange filing · Aug 25, 2026
  28. S34INTU historical prices (closing price Nov 5, 2026) · Nasdaq, Inc. · Tier 1: company or exchange filing · Nov 5, 2026
  29. S35Intuit investor relations calendar (Q1 fiscal 2027 results call, Nov 19, 2026) · Intuit Inc. · Tier 3: context only · Nov 6, 2026
  30. S36H&R Block Form 10-K, fiscal 2026 (ended Jun 30, 2026) · H&R Block, Inc. (SEC EDGAR) · Tier 1: company or exchange filing · Aug 14, 2026
Changes to this page (v1 · Nov 6, 2026)
  1. v1 · Nov 6, 2026First version, through Q4 FY2026 (quarter ended Jul 31, 2026). (first version)

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