Try Alerts Free   |   Login
Technology › Services-Prepackaged Software

INTU Price Correlated With Financials For Intuit

Free historical financial statements for Intuit Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 50 quarters since 2009. Compare with INTU stock chart to see long term trends.

INTU Stock Compared to Quarterly

INTU Income Statement

Revenue, Net:2673000000
Revenue Per Share:9.4452
Selling, General & Admin Expense:942000000
Research & Development Expense:590000000
Total Operating Expenses:2617000000
Operating Income:56000000
Income Taxes:-70000000
Net Income:100000000
Earnings Per Share, Basic:0.35
Shares Outstanding, Basic Avg:283000000

INTU Cash Flow

Operating Activities Net Income:
Change in Accounts Receiveable:451000000
Net Cash from Operations:85000000
Net Cash from Operations Per Share:0.3004
Repurchases/Buybacks Common Stock:539000000
Cash Dividends Paid:198000000
Net Cash from Financing Activities:3858000000
Property, Plant & Equipment Purchases:65000000
Purchases of Businesses, Net of Cash:5682000000
Net Cash from Investing Activities:-5478000000
Net Change in Cash & Equivalents:-1539000000

INTU Balance Sheet

Cash and Cash Equivalents:1433000000
Accounts Receivable, Net:889000000
Total Current Assets:3490000000
Property, Plant & Equipment, Net:831000000
Total Assets:26303000000
Accounts Payable:883000000
Total Short-Term Liabilities:2968000000
Long Term Debt, Non-Current Portion:null
Total Liabilities:10708000000
COMPANY PROFILE
1. Description of Business and Summary of Significant Accounting Policies

Description of Business

Intuit helps consumers, small businesses, and the self-employed prosper by delivering financial management and compliance products and services. We also provide specialized tax products to accounting professionals, who are key partners that help us serve small business customers.

Our flagship brands, QuickBooks, TurboTax and Mint, help customers run their small businesses, pay employees and send invoices, separate business and personal expenses, track their money, and file income taxes. ProSeries and Lacerte are our leading tax preparation offerings for professional accountants. On December 3, 2020 we acquired Credit Karma, Inc. (Credit Karma), a consumer technology platform that enables us to provide personalized financial offers to members including credit cards, loans, insurance, and savings and checking accounts through an FDIC member bank partner. Incorporated in 1984 and headquartered in Mountain View, California, we sell our products and services primarily in the United States.

Basis of Presentation

These consolidated financial statements include the financial statements of Intuit and its wholly owned subsidiaries. We have eliminated all significant intercompany balances and transactions in consolidation. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to reportable segments. In August 2020, we reorganized certain technology and customer success functions that support and benefit our overall platform. Additionally, certain legal, facility and employee service costs are now managed at the corporate level. As a result, these costs are no longer included in segment operating income and are now included in other corporate expenses. For the twelve months ended July 31, 2020 and 2019, we reclassified $180 million and $172 million from Small Business & Self-Employed, $121 million and $78 million from Consumer, and $13 million and $12 million from ProConnect to other corporate expenses. In August 2020, we also renamed our Strategic Partner segment as the ProConnect segment. This segment continues to serve professional accountants. See Note 14, "Segment Information," for more information.

On December 3, 2020 we acquired Credit Karma, a consumer technology platform. We have included the results of operations for Credit Karma in our consolidated statements of operations from the date of acquisition. Credit Karma operates as a separate reportable segment. See Note 14, "Segment Information," for more information.

Seasonality

Our Consumer and ProConnect offerings have a significant and distinct seasonal pattern as sales and revenue from our income tax preparation products and services are typically concentrated in the period from November through April. This seasonal pattern typically results in higher net revenues during our second and third quarters ending January 31 and April 30, respectively.

Due to the COVID-19 pandemic, the timing of tax filing seasons for fiscal 2021 and fiscal 2020 varied significantly. In fiscal 2019, the IRS began accepting returns on January 28, 2019 and the tax filing deadline was April 15, 2019. In fiscal 2020, the IRS began accepting returns on January 27, 2020 and the tax filing deadline was July 15, 2020. In fiscal 2021, the IRS began accepting returns on February 12, 2021 and the tax filing deadline was May 17, 2021. These changes to the tax filing seasons impacted our quarterly financial results during fiscal 2021 and fiscal 2020.

Use of Estimates

In preparing our consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP), we make certain judgments, estimates, and assumptions that affect the amounts reported in our financial statements and the disclosures made in the accompanying notes. For example, we use judgments and estimates in determining

Data imported from Intuit Inc SEC filings. Check original filings before making any investment decision.