INTUIT INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data INTUIT INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	5,196	6,025	6,784	7,679	9,633	12,726	14,368	16,285	18,831	21,448
Cost of revenue	120
Gross profit	5,076
Research and development	998	1,186	1,233	1,392	1,678	2,347	2,539	2,754	2,928	3,376
Selling and marketing	1,415	1,631	1,927	2,048	2,644	3,526	3,762	4,312	5,035	5,534
General and administrative	553	664	597	679	982	1,460	1,300	1,418	1,601	1,623
Operating income	1,418	1,560	1,854	2,176	2,500	2,571	3,141	3,630	4,923	5,884
Interest expense	31	20	15	14	29	81	248	242	247	256
Other non-operating income	3	26	42	36	85	52	96	162	158	389
Pre-tax income	1,390	1,566	1,881	2,198	2,556	2,542	2,989	3,550	4,834	6,017
Income tax	405	237	324	372	494	476	605	587	965	1,451
Income from continuing operations	985	1,329
Net income	985	1,329	1,557	1,826	2,062	2,066	2,384	2,963	3,869	4,566
EBITDA	1,632	1,788	2,053	2,365	2,666	2,758	3,301	3,789	5,095	6,071
EPS, basic	3.83	5.18	5.99	6.99	7.65	7.38	8.49	10.58	13.82	16.53
EPS, diluted	3.78	5.09	5.89	6.92	7.56	7.28	8.42	10.43	13.67	16.46
Shares, basic (weighted)	257	256	260	261	270	280	281	280	280	276
Shares, diluted (weighted)	261	261	264	264	273	284	283	284	283	277
Dividend per share	1.36	1.56	1.88	2.12	2.36	2.72	3.12	3.60	4.16	4.80

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	529	1,464	2,116	6,442	2,562	2,796	2,848	3,609	2,884	4,705
Short-term investments	248	252	624	608	1,308	485
Receivables	103	98	87	149	391	446	405	457	530	625
Other current assets	100	202	266	314	184	287	354	366	496	677
Total current assets	1,415	2,422	3,594	7,980	5,157	5,047	5,557	9,678	14,107	15,311
Property, plant and equipment	1,030	812	780	734	780	888	969	1,009	961	1,023
Lease right-of-use assets				226	380	549	469	411	541	609
Goodwill	1,295	1,611	1,655	1,654	5,613	13,736	13,780	13,844	13,980	13,981
Intangible assets	22	61	54	28	3,252	7,061	6,419	5,820	5,302	4,642
Long-term investments	31	13	13	19	43	98	105	131	94	248
Other non-current assets	143	215	186	225	283	344	417	541	751	800
Total assets	4,068	5,134	6,283	10,931	15,516	27,734	27,780	32,132	36,958	36,786
Accounts payable	157	178	274	305	623	737	638	721	792	873
Accrued liabilities	300	369	385	482	530	576	665	921	858	1,068
Deferred revenue	887	581	619	652	684	808	921	872	1,019	1,072
Short-term debt	50	50	50	1,338	0	499	0	499	0	1,249
Total current liabilities	1,944	1,743	1,966	3,529	2,655	3,630	3,790	7,491	10,370	10,163
Long-term debt			386	2,031	2,034	6,415	6,120	5,539	5,973	6,420
Lease liabilities				221	380	542	480	458	597	667
Other non-current liabilities	130	119	145	42	53	87	121	208	288	305
Total liabilities	2,714	2,318	2,534	5,825	5,647	11,293	10,511	13,696	17,248	17,794
Total debt	438	388	386	2,031	2,034	6,914	6,120	6,038	5,973	7,669
Paid-in capital	4,857	5,338	5,775	6,182	10,548	17,725	19,029	20,251	21,635	0
Retained earnings	7,297	8,564	9,621	10,885	12,296	13,581	15,067	16,989	19,668	19,046
Treasury stock	-10,778	-11,050	-11,611	-11,929	-12,951	-14,805	-16,772	-18,750	-21,543	0
Other comprehensive income	-22	-36	-36	-32	-24	-60	-55	-54	-50	-57
Shareholders' equity	1,699	2,816	3,749	5,106	9,869	16,441	17,269	18,436	19,710	18,992
Total equity	1,699	2,816	3,749	5,106	9,869	16,441	17,269	18,436	19,710	18,992
Total liabilities and equity	4,068	5,134	6,283	10,931	15,516	27,734	27,780	32,132	36,958	36,786
Shares outstanding	256	259	260	262	273	282	280	280	279	268

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	985	1,329	1,557	1,826	2,062	2,066	2,384	2,963	3,869	4,566
Depreciation and amortization	214	228	199	189	166	187	160	159	172	187
Stock-based compensation	326	382	401	435	753	1,308	1,712	1,940	1,968	2,056
Deferred income tax	17	-5	-7	-179	-42	120	-628	-554	-435	1,279
Change in receivables	5	5	11	-59	-104	-31	42	-52	-71	-95
Cash from operations	1,599	2,112	2,324	2,414	3,250	3,889	5,046	4,884	6,207	8,838
Capital expenditures	-102	-38	-76	-59	-53	-157	-210	-191	-84	-175
Acquisitions	0	-363	-64	0	-3,064	-5,682	-33	-83	-184	0
Purchases of investments	-352	-407	-752	-701	-1,489	-830	-1,015	-780	-2,363	-3,892
Sales and maturities of investments	183	286	303	596	550	234	449	676	864	2,554
Cash from investing	-17	-532	-635	-97	-3,965	-5,421	-922	-227	-2,318	-1,412
Debt issued	0	0	48	1,983	0	4,700
Debt repaid	-512	-50	-50	-50	-338	0	-1,009	-4,200	-500	0
Stock issued	153	216	197	111	92	40	90	121	234	14
Share buybacks	-839	-272	-556	-323	-1,005	-1,861	-1,967	-1,988	-2,772	-5,412
Dividends paid	-353	-407	-501	-561	-646	-774	-889	-1,034	-1,189	-1,347
Cash from financing	-1,632	-639	-965	2,034	-3,176	1,732	-4,269	-397	-1,510	-7,689
Exchange rate effect	9	-11	-3	-6	13	-22	0	-13	3	-2
Net change in cash	-41	930	721	4,345	-3,878	178	-145	4,247	2,382	-265
Free cash flow	1,497	2,074	2,248	2,355	3,197	3,732	4,836	4,693	6,123	8,663
Interest paid	42	19	17	14	30	67	272	200	284	295
Income taxes paid	430	245	325	493	578	303	484	1,881	1,408	281

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $275.79 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	27.4%	Operating income / revenue.
EBITDA margin	28.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	28.1%	Pre-tax income / revenue.
Net margin	21.3%	Net income / revenue.
FCF margin	40.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	41.2%	Cash from operations / revenue.
Effective tax rate	24.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	23.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.4%	Net income / average total assets.
Return on invested capital (ROIC)	20.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	15.7%	Research and development expense / revenue.
Stock-based pay / revenue	9.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.8%	Capital expenditures / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	14.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	17.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	19.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	23.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	18.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	19.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	22.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	17.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	18.0%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	24.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	17.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	20.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	25.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	16.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	42.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	20.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	22.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	21.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	22.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	15.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	15.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	15.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-3.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.51x	Current assets / current liabilities.
Quick ratio	0.52x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.46x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.40x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	20.8%	Total debt / total assets.
Liabilities / assets	48.4%	Total liabilities / total assets.
Net debt	$2.96B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.49x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	23.0x	Operating income / interest expense.
Working capital	$5.15B	Current assets - current liabilities.
Goodwill and intangibles / assets	50.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$369.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	21.6x	Revenue / average property, plant and equipment.
Receivables turnover	37.1x	Revenue / average receivables.
Days sales outstanding	10 days	365 x average receivables / revenue.
FCF conversion	189.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$16.46	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$16.53	Net income per basic share, as reported (split-adjusted).
Revenue per share	$77.43	Revenue / diluted weighted shares.
FCF per share	$31.27	Free cash flow / diluted weighted shares.
Operating cash flow per share	$31.91	Cash from operations / diluted weighted shares.
Book value per share	$70.76	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.37	Tangible book value / shares outstanding.
Cash per share	$17.53	(Cash + short-term investments) / shares outstanding.
Dividend per share	$4.80	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	29.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	15.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	62.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$75.44B	Share price x shares outstanding.
Enterprise value	$78.40B	Market cap + total debt - cash - short-term investments.
P/E	16.5x	Market cap / net income. Only when net income is positive.
P/S	3.52x	Market cap / revenue.
P/B	3.97x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	204x	Market cap / tangible book value, when positive.
P/FCF	8.71x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.54x	Market cap / cash from operations, when positive.
EV/Sales	3.66x	Enterprise value / revenue.
EV/EBIT	13.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.05x	Enterprise value / free cash flow, when both are positive.
FCF yield	11.5%	Free cash flow / market cap.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.8%	Dividends paid over the period / market cap.
Shareholder yield	9.0%	(Dividends paid + share buybacks) / market cap.
PEG	0.66x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was INTUIT INC.'s revenue in fiscal 2026?

INTUIT INC. reported revenue of $21.45B for fiscal 2026, 13.9% higher than the year before.

Was INTUIT INC. profitable in fiscal 2026?

Yes. Net income was $4.57B, a net margin of 21.3%.

How much free cash flow did INTUIT INC. generate in fiscal 2026?

Cash from operations of $8.84B minus capital expenditures of $175.0M left free cash flow of $8.66B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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