INTU
INTUIT INC.
Technology • CIK: 0000896878
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Market Cap
$139.32B
P/E (TTM)
32.1x
Rev Growth (TTM)
+17.2%
Net Margin (TTM)
21.6%
FCF Yield (TTM)
4.9%
FCF Margin (TTM)
34.2%
What Changed
10-Q Q2 2026 vs 10-Q Q1 2026
FTC Legal Statusadverse FTC ruling pending appeal→material FTC settlement reached; state AG litigation...
Consumer Segment Operating Margin65.3% (Q1 2026, YoY +700bp vs Q1 2025)→60.39% (Q2 2026) — 491bp sequential compression
Consumer Segment Revenue Growth (YoY)21% YoY (Q1 2026)→15.1% YoY (Q2 2026) — 590bp deceleration
GBS Operating Margin78.0% (Q1 2026, YoY -100bp vs Q1 2025)→75.95% (Q2 2026) — 205bp sequential compression
Top Risk RankingCybersecurity ranked #1 (high); Competition ranked #2...→Competitive Pressures ranked #1 (high);...
Consumer segment YoY revenue growth in Q3 2026 (peak tax season) — watch for...·FTC settlement cost quantification and state AG resolution timeline — Q3 2026...·GBS operating margin — watch for recovery above 78% or sustained compression...
Filing Intelligence
6.0/10
10-Q filed Feb 26, 2026 • Q2 2026
Executive Summary
The company's strategic pivot to an AI-driven expert platform is a key focus, with significant investments in AI capabilities and a confident tone regarding competitive advantages.. Capital is being...
Key Concerns
- ●The company is involved in significant legal proceedings with the FTC and state attorneys general, resulting in a material settlement and...
- ●An FTC order mandates changes to marketing practices, with an appeal pending, indicating ongoing regulatory scrutiny and potential future...
- ●Competitive Pressures (high)
Key Strengths
- ●Intuit is experiencing strong revenue growth across both its Global Business Solutions and Consumer segments, driven by its online...
- ●Profitability has improved substantially, with significant increases in operating income and net income, supported by revenue growth and...
Cash Flow Health
Free Cash Flow8/8 positive
TTM$6.9B
Q2 '26
$1.5B+154%
Q1 '26
$599M+51%
FCF Margin
TTM34.2%
Q2 '2632.8%+113%
Sector: 9.1%Top 10%
OCF Margin34.7%
OCF/NI1.61x
CapEx Coverage67.1x
FCF Yield4.9%
FCF Growth (2Y)+19%
Cash Conversion Cycle
-74 days
DSO: 13+DIO: 0−DPO: 87
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.3%
Div Yield0.9%
+Buyback (TTM)2.4%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)0.9%
FCF Payout Ratio18.2%
Free Cash Flow (TTM)$6.9B
Stock Repurchases (TTM)$3.3B
Capital Return / FCF66.3%
Est. Dividends Paid (TTM)$1.3B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
16.9%
Volatile
+0.0% YoY-11.1%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
21.4%
8Q: 11.6%
Asset Turnover
0.58x
8Q: 0.47x
Leverage (1+D/E)
1.32x
D/E: 0.32x
DuPont: 16.3% ≈ 16.9% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
20.72x
8Q:15.99x
-38.1%
Invested Cap Turn
0.84x
8Q:0.67x
-10.1%
CapEx Intensity
0.4%
8Q:0.6%
CapEx/Depreciation
0.60x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $20.1B | $4.7B↑19.7% | $3.9B↑1.4% | $3.8B↓50.6% | $7.8B↑95.7% | $4.0B↑20.7% | $3.3B↑3.1% | $3.2B↓52.7% | $6.7B |
Operating Income | $5.4B | $855.0M↑60.1% | $534.0M↑57.5% | $339.0M↓90.9% | $3.7B↑527.3% | $593.0M↑118.8% | $271.0M↑279.5% | $-151.0M↓104.9% | $3.1B |
Net Income | $4.3B | $693.0M↑55.4% | $446.0M↑17.1% | $381.0M↓86.5% | $2.8B↑498.7% | $471.0M↑139.1% | $197.0M↑1085.0% | $-20.0M↓100.8% | $2.4B |
Operating Cash Flow | $7.0B | $1.6B↑146.5% | $637.0M↑67.2% | $381.0M↓91.3% | $4.4B↑311.1% | $1.1B↑195.3% | $362.0M↓13.2% | $417.0M↓89.4% | $4.0B |
Free Cash Flow | $6.9B | $1.5B↑154.4% | $599.0M↑51.3% | $396.0M↓90.9% | $4.4B↑320.0% | $1.0B↑215.5% | $329.0M↓24.2% | $434.0M↓88.8% | $3.9B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
32.1x
Volatile
8Q: 279.2x+400187%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
32.1x
vs – sector
Cash Flow
20.0x
EV/FCF vs –
Growth-Adj
0.7xPEG
Undervalued for growth
Quality-Adj
1.9P/E per %ROIC
ROIC: 16.9%
Shareholder Returns
Dividend
0.9%
Buyback
2.4%
Total Yield
3.3%
Market Cap$139.32B
EV$137.33B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
73/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
22.4%
8Q:–
Return on Invested Capital (ROIC)Top 25%
16.9%
8Q:–
-11.1%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 21.4%
Asset Turnover: 0.58x
Earnings Quality
Cash Conversion
1.61x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin82.0%
Capital Efficiency
Invested Capital Turnover0.84x
Working Capital
Cash Conversion Cycle-74 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
77/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
17.2%
OpInc Growth YoY
44.2%
EPS Growth YoY
44.1%
FCF 3Y CAGR
18.9%
Growth Quality Analysis
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
82.0%
Operating
27.1%
Top 25% in sector
Net
21.6%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+12.6 pts
FCF: 34.2% | Net: 21.6%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $623.00M
Interest Coverage
–
+Net cash position: $623.00M
Balance sheet risk & solvency analysis