Intuit Inc.
INTUIntuit wins by owning the daily financial workflow of small businesses and consumers.
Because once a company runs payroll and taxes through you, it rarely leaves.
Business Model
Subscription financial software
It sells cloud software and related services to small businesses and consumers on recurring plans.
Economic Engine
80.8% gross margin
Software costs little to deliver, so most revenue turns into profit and cash.
Long-Term Lens
Embedded workflows
The key question is whether Intuit stays embedded in core financial tasks as technology evolves.
On this page
Company Story
How do Intuit Inc.'s business model and economics hold up on a closer read?
Start with the business itself, then go one layer deeper into the model, the economics, and the long-term case.
“A high-margin financial software platform with deep switching costs, positioned to compound alongside small businesses for decades.”
What does Intuit Inc. actually do?
Intuit builds software that helps small businesses run their finances and helps consumers file taxes and manage money.
- QuickBooks helps small businesses handle accounting, payroll, and payments.
- TurboTax helps individuals and freelancers prepare and file taxes.
- Credit Karma helps consumers monitor credit and find financial products.
Why it matters
Core financial workflows
Accounting and taxes are not optional, which makes this software deeply embedded and hard to replace.
How does Intuit Inc. make money?
Intuit makes money by charging subscription fees for its software and by earning fees from payments and financial services.
- Recurring subscription revenue from QuickBooks and other cloud products.
- Seasonal revenue from TurboTax during tax season.
- Transaction and service fees from payments, payroll, and financial product referrals.
Economic clue
32.3% free cash flow margin
A large share of revenue turns into cash, showing the business model is both scalable and efficient.
Why do long-term investors keep Intuit Inc. on the radar?
Intuit sits at the center of how millions of small businesses and households manage money, which creates durable demand.
- Revenue has grown about 18.2% per year on average over the past five years.
- Earnings per share have grown about 16.0% per year over the same period.
- Small businesses and tax compliance are long-term structural needs, not short-term trends.
Investor takeaway
Compounding engine
Consistent double-digit growth combined with high margins creates the conditions for long-term compounding.
Based on company financial statements.
Benchmark Comparison
How has Intuit Inc. performed against common long-term benchmarks?
Once the business case is clear, compare the stock against broad market and alternative long-term baselines.
$1,259
+25.9% total return
$1,753
+75.3% total return
$2,975
+197.5% total return
$1,393
+39.3% total return
| Asset | Total Return | Dollar Value |
|---|---|---|
| INTU | +25.9% | $1,259 |
| S&P 500 | +75.3% | $1,753 |
| Gold | +197.5% | $2,975 |
| Bitcoin | +39.3% | $1,393 |
From Mar 5, 2021 to Mar 6, 2026. Historical price data based on company financial statements and market indices. Each card uses the same starting amount so the comparison stays apples-to-apples.
Investor Fit
How a first-time investor could frame Intuit Inc.
Before going deeper, decide what kind of business this is, what it tends to suit, and what deserves monitoring over time.
This Can Fit If You Want
- A high-margin software business tied to essential financial tasks.
- Long-term exposure to small business growth and entrepreneurship.
- Strong cash generation with disciplined share buybacks.
Be Careful If You Expect
- Explosive growth forever, revenue growth has moderated from earlier hyper-growth years.
- Perfectly stable margins, operating margin is 26.1% and has been contracting.
- No regulatory risk, tax software faces political scrutiny.
What To Watch Over Time
- Whether Intuit keeps expanding within the small business ecosystem.
- Trends in operating margin, currently 26.1%, to see if investments pay off.
- How artificial intelligence changes bookkeeping and tax preparation.
Key Metrics
Which metrics matter most for Intuit Inc. right now?
Three durable business metrics that matter more than day-to-day price moves.
18.2% per year
16.0% per year
80.8% gross margin
| Metric | Value | Context |
|---|---|---|
| Revenue Growth | 18.2% per year | Shows whether the business has been expanding fast enough to create more long-term value. |
| EPS Growth | 16.0% per year | Shows whether earnings per share are compounding for owners over time. |
| Margin Quality | 80.8% gross margin | Shows how much room the business has to fund growth, absorb shocks, and stay profitable. |
Based on company financial statements.
Fundamentals
What do Intuit Inc.'s fundamentals say right now?
Core financial markers that explain how the business is performing beneath the stock price.
13.6% ROIC
80.8% gross margin
32.3% FCF margin
Stable to shrinking
| Metric | Value | Interpretation |
|---|---|---|
| Capital Efficiency | 13.6% ROIC | The business is currently showing fair capital efficiency. |
| Profitability | 80.8% gross margin | Healthy gross margins give the company room to invest, price competitively, and absorb shocks. |
| Cash Generation | 32.3% FCF margin | Free cash flow margin shows how much real cash the business keeps after funding operations and investment. |
| Ownership Trend | Stable to shrinking | The company is not currently diluting owners and may be buying back shares instead. |
Based on company financial statements.
Included In Funds
Which ETFs and funds currently hold Intuit Inc.?
Intuit Inc. currently appears in these ETF and fund proxies.
QQQ
Invesco QQQ Trust, Series 1
SPY
SPDR S&P 500 ETF Trust
IWB
iShares Russell 1000 ETF
Questions & Answers
What questions come up most often about Intuit Inc.?
Company-specific questions readers often ask about Intuit Inc..
Each entry answers a direct question about the business, the long-term thesis, or the risks that matter over time.
Intuit builds financial software like QuickBooks and TurboTax that helps small businesses manage money and helps individuals file taxes.
Decision Framing
Secondary context after the long-term thesis
Shorter-horizon context and comparison tools, after the core long-term read.
Shorter-horizon price moves, two-sided debate, and comparison tools live here so the page stays anchored on business quality, durability, and BinaPrint fit first.
Investment Thesis
Bull vs Bear
Two-sided framing before any decision.
Current argument weight is balanced.
Bull case
What can work
Deep integration into small business accounting and payroll creates high switching costs, since years of financial records and workflows are stored inside QuickBooks.
Tax compliance is mandatory, giving TurboTax a recurring annual demand cycle that is not discretionary.
An 80.8% gross margin and 32.3% free cash flow margin provide fuel to invest in artificial intelligence and new services without straining the balance sheet.
Revenue has grown about 18.2% per year over five years, showing management has successfully expanded beyond a single product into a broader financial ecosystem.
Bear case
What can break
Artificial intelligence could automate bookkeeping and tax filing to the point where basic software becomes commoditized and pricing power erodes.
Governments could simplify tax filing or offer free public options, directly pressuring TurboTax revenue.
Small businesses are economically sensitive, and a prolonged decline in new business formation could slow subscriber growth.
Margin contraction, with operating margin at 26.1% and trending down, could signal that competition is intensifying or integration costs are permanent.
Risk Radar
Key Risks
Where downside pressure can build.
Product concentration risk, with a large share of profit historically tied to QuickBooks and TurboTax, meaning disruption in either could materially impact earnings.
Regulatory risk in tax software, where government-provided free filing options could pressure a meaningful portion of consumer tax revenue.
Margin risk, operating margin at 26.1% has been contracting, and a sustained 5 to 10 point decline would significantly reduce long-term earnings power.
Pressure points
Concentration risk
A significant portion of Intuit revenue and profit is tied to its Small Business and Consumer segments, primarily QuickBooks and TurboTax. If either franchise were disrupted by regulation or technology, the financial impact would be material given their central role in the portfolio.
Sizing matters
Risks should be read as scenario inputs, not certainties. Position size and time horizon determine how much of this downside profile is acceptable.
Market Snapshot
Tactical context after the core long-term read.
- Price
- $481.17
- Daily move
- +3.08%
Peer Set
A compact peer list for side-by-side context.
Next Actions
Explore planning scenarios or keep browsing similar companies.