Intuit Inc. (INTU)
POSITIVEファンダメンタル
80
株価
$357.88
時価総額
$101.19B
パート1 · 企業の価値
概要
Intuit sells financial software that individuals, small businesses and accountants use every year: TurboTax for filing taxes, QuickBooks for bookkeeping and payroll, Credit Karma for free credit scores and financial product matching, and ProSeries/Lacerte for professional tax preparers. Nearly every U.S. small business and a large share of American taxpayers touch at least one of its products, giving Intuit a footprint few competitors can match across both consumer and small-business finance.
収益の仕組み
Most revenue is subscription: QuickBooks and payroll customers pay monthly fees, and TurboTax charges per tax return with pricier tiers for live human help. Credit Karma earns differently — it is free to use and paid instead by banks, lenders and insurers for successful referrals, so its revenue rises and falls with how much those partners are willing to spend on customer acquisition. Intuit is highly seasonal: a large share of consumer revenue lands in the January–April tax season.
セグメント別売上高
QuickBooks accounting and payroll software plus Mailchimp email marketing, sold mainly to small and mid-sized businesses on subscription.
TurboTax tax-filing software for individuals, priced from free simple returns up to paid tiers with live expert review.
A free platform that shows users their credit score and matches them with credit cards, loans and insurance, earning referral fees from those lenders.
Tax preparation software sold to professional accountants and tax preparers who file returns on behalf of clients.
競争優位性（moat）
スイッチングコスト · 広いQuickBooks holds years of a small business's accounting history, bank feeds and accountant relationships, so switching means re-entering data and retraining staff — a cost most owners avoid paying. TurboTax benefits from the same inertia at the consumer level: once a return is filed correctly, most people return the following year rather than start over elsewhere.
需要を左右する要因
中程度の景気循環性Tax filing happens every year almost regardless of the economy, which anchors the Consumer and ProTax segments. QuickBooks and Credit Karma are more sensitive to the cycle: small-business formation slows in a downturn, and Credit Karma's revenue depends on how aggressively banks and lenders are marketing for new borrowers, which they pull back sharply when credit conditions tighten.
主なリスク
- Free government tax filing — The IRS's own free electronic filing option and other no-cost preparers compete directly with TurboTax's paid tiers, threatening the segment that funds much of Intuit's marketing and profit.
- Credit Karma tied to lender ad budgets — Credit Karma earns money only when banks, card issuers and insurers pay for referrals; when those partners tighten lending or cut marketing spend, Credit Karma's revenue can fall quickly.
- Data security across sensitive financial records — Intuit stores tax returns, bank connections and payroll data for tens of millions of people and businesses; a breach would be especially damaging given how sensitive that information is.
- Segment reorganization underway — Intuit folded Consumer, Credit Karma and ProTax into a single reporting unit starting fiscal 2026, so investors comparing future results to the segment figures cited here should expect a break in the series.
強気材料
Buyers argue that QuickBooks' grip on small-business bookkeeping and TurboTax's habitual annual use give Intuit durable pricing power, and that AI-driven features can raise revenue per customer across all four segments at once.
弱気材料
Sellers worry that free filing alternatives cap TurboTax's growth, that Credit Karma's revenue is really a lender-marketing budget that can be cut overnight, and that QuickBooks faces rising competition from cheaper accounting tools built for very small businesses.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$20.93B
直近12か月（2026/4/30まで）
純利益
$4.58B
直近12か月（2026/4/30まで）
フリーキャッシュフロー
$6.12B
自己資本合計
$19.71B
負債合計
$17.25B
流動比率
1.45
利払い倍率
23.46
負債/EBITDA
1.08
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$405.40
現在株価
$357.88
安全マージン
+11.7%
適正価値レンジ
$263.51 - $547.29
推定方法
バリュエーション指標
P/E レシオ
22.50
ROE
19.6%
P/B レシオ
4.91
P/FCF
13.05
粗利益率
-
ROIC
16.8%
収益性レーダー
Value Creation (Economic Moat)
ROIC
16.8%
WACC
9.4%
ROIC − WACC
+7.4 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
ファンダメンタル分析基準
合格（22）
- EPS shows upward trend
- EPS CAGR 14.30%
- Price CAGR 12.34%
- ROIC 16.8%
- P/FCF 13.05
- Debt/Equity ratio
- Operating Margin 27.5%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 23.3%
- Revenue Growth 5Y 19.6%
- Analyst Consensus 67% Buy
- Earnings Surprise avg 4.5%
- PEG Ratio 1.37
- Earnings Quality (OCF/NI) 1.72
- Share Dilution -0.4%
- Net Margin Trend 21.9% vs 19.1%
- Piotroski F-Score 7/9
不合格（4）
- P/B Ratio 4.91
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
データなし（2）
- Gross Margin NaN%
- Dividend Payout NaN%
Piotroski F-スコア
財務健全性が高い
利益の質
高品質：利益はキャッシュに裏付けられている
株式希薄化
株式を買い戻している。株主に友好的
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Sasan K. Goodarzi | CEO, President & Chairman | 57 |
| Mr. Scott D. Cook | Founder & Director | 73 |
| Mr. Sandeep Singh Aujla | Executive VP & CFO | 49 |
| Mr. Alex G. Balazs | Executive VP & CTO | 53 |
| Mr. Mark Notarainni | Executive VP & GM of Consumer Group | 55 |
| Ms. Lauren D. Hotz | Senior VP & Chief Accounting Officer | 49 |
| Anne-Sophie Seigneurbieux | Senior Vice President of Investor Relations, Corporate & Strategic Finance | - |
| Mr. Tyler Cozzens | Executive VP, General Counsel and Corporate Secretary | - |
| Ms. Shveta Mujumdar | Vice President of Corporate Development | 46 |
| Ms. Caryl Hilliard | Executive VP and Chief People & Places Officer | 59 |
監査リスク
1
取締役会リスク
4
報酬リスク
4
株主権利リスク
2
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for INTU, sourced from Markets Gazette.
- 57m agoNEGATIVEIntuit Sinks 11% on Weak Outlook as Nvidia Earnings Loom | Closing Bell
Intuit Inc. experienced a significant decline, with its stock price dropping 11% following the release of a weak financial outlook. This downturn occurred as investors awaited earnings reports from other major tech companies, including Nvidia. The company's forward-looking guidance failed to meet market expectations, raising concerns about future growth prospects and potentially impacting its valuation. Investors are now reassessing their positions in Intuit amid this cautious outlook, while the broader market remains focused on upcoming corporate results.
- 1d agoNEUTRALPrevisioni sul titolo Intuit prima degli utili: compra, vendi o tieni?
Intuit Inc. (INTU) stock has seen a significant surge, climbing 46% from its yearly low to reach $367, its highest point since May 20th. This upward trend mirrors the broader software sector's performance, with investors actively buying dips. However, this rally faces a crucial test as the company prepares to release its financial results. Intuit, a major software player known for QuickBooks, Credit Karma, Mailchimp, and TurboTax, is navigating market concerns, including the 'SaaSpocalypse' fears, which could impact its upcoming earnings report and future stock performance.
- 6/14/2026NEGATIVEIntuit, Adobe, Zscaler, Workday Plunge Amid SaaSpocalypse Fears: Buy The Dip?
Intuit Inc. (INTU) experienced a significant price decline, alongside other major software-as-a-service (SaaS) providers like Adobe (ADBE), Zscaler (ZS), and Workday (WDAY). This downturn is attributed to 'SaaSpocalypse fears,' suggesting investor concerns about the long-term sustainability or growth prospects of the SaaS business model. The sharp drop in these prominent tech stocks indicates a potential shift in market sentiment, prompting questions about whether this is a buying opportunity or a signal of deeper systemic issues within the sector. Investors are closely monitoring these developments for potential sector-wide implications.
- 6/2/2026NEGATIVEIntuit Stock Slides After Goldman Downgrades To Sell
Intuit Inc. (NASDAQ:INTU) experienced a significant stock price decline following a downgrade from Goldman Sachs to a 'Sell' rating. The downgrade signals a bearish outlook from a key financial institution, suggesting potential headwinds or overvaluation concerns for the financial software company. Investors are likely reacting to the analyst's revised assessment, leading to increased selling pressure and a downward revision of the stock's price target. This move could indicate a shift in market sentiment towards Intuit, potentially impacting its future performance and investor confidence.
- 5/27/2026POSITIVEBofA Securities Analyst Sees Intuit Rebound Despite Layoffs, DIY Tax Weakness, AI Pressure
BofA Securities has initiated coverage on Intuit Inc. with a positive outlook, despite recent challenges including layoffs and weakness in its DIY tax segment, alongside pressure from AI advancements. The firm highlights Intuit's robust profit margins and a significant growth runway as key drivers for its optimistic stance. The analysis suggests that improving fundamental factors within the company are poised to support a rebound in its stock performance. Investors may find this a compelling signal for potential upside, as BofA Securities points to underlying strengths that could outweigh current headwinds.
- 5/21/2026NEGATIVEIntuit Stock Cracks After Layoffs, TurboTax Warning
Intuit Inc. saw its stock price decline following a series of negative developments. The company announced significant layoffs and issued a warning regarding weaker trends for its TurboTax product. These factors, coupled with restructuring plans, overshadowed the reported earnings growth. For investors, this signals potential headwinds in key business segments and operational challenges, raising concerns about future revenue streams and profitability despite current earnings figures.
- 5/21/2026NEUTRALIntuit CFO on why the company is simplifying its structure
Intuit's CFO, Sandeep Aujla, announced a strategic restructuring aimed at simplifying the company's organizational framework. The move involves flattening management layers and reorienting the business around key pillars: artificial intelligence (AI), operational speed, and sustained long-term growth. This internal reorganization signals a focus on efficiency and adaptability in a rapidly evolving tech landscape. While the specific financial implications are not yet quantified, the emphasis on AI and growth suggests a forward-looking strategy that could enhance future performance and market positioning.
- 5/20/2026NEGATIVEIntuit Stock Tumbles On Q3 Earnings, 17% Workforce Reduction
Intuit Inc. reported its third-quarter fiscal 2026 results, which led to a significant stock price decline. The company announced a workforce reduction of 17%, impacting approximately 2,300 employees. While specific financial figures for the quarter were not detailed in the provided snippet, the substantial layoff indicates potential underlying business challenges or a strategic restructuring aimed at cost-saving. Investors reacted negatively to the news, signaling concerns about future growth prospects and operational efficiency. The market will be closely watching for further details on the company's strategic direction and financial performance in the upcoming quarters.
- 4/15/2026NEGATIVEHow a free tax filing system from the government went from 296,000 users to zero in just one year
Intuit Inc. and H&R Block successfully lobbied against the IRS's free tax filing pilot program, leading to its discontinuation after one year. The pilot, which served 296,000 users, was terminated following significant lobbying efforts totaling $103 million over two decades. This outcome benefits Intuit and H&R Block by preserving their market share in the tax preparation services sector, potentially leading to sustained revenue streams from their existing customer base. Investors may view this as a positive for the companies' competitive positioning.
- 4/12/2026NEGATIVEIntuit was an AI pioneer. Why its stock became a SaaSpocalypse casualty
Intuit Inc. has seen its stock heavily impacted by an "AI-driven investor panic," despite its long-standing integration of AI and human expertise into its business model. The company, a pioneer in applying AI to financial software, is now facing significant investor sell-offs. This suggests that market sentiment, driven by the current AI investment frenzy, is overriding fundamental business strengths and historical innovation. Investors are advised to monitor whether this market reaction is a temporary overcorrection or a sustained shift in perception for AI-focused tech companies.
via Markets Gazette