Intuit (INTU) FY2011 results: revenue $3.4 billion, up 1.4% on the year
Intuit Inc. (INTU) reported revenue of $3.4 billion for fiscal 2011, the year ended 31 July 2011, up 1.4% on the year before. Net income was $634 million, up 10.5%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 14 September 2011.
Revenue
$3.4 billion
+1.4% on the year
FY2008FY2011
Operating margin
31.4%
26.6% a year earlier
FY2008FY2011
Net income
$634 million
+10.5% on the year
FY2008FY2011
Diluted EPS
$2.00
+13.0% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,449
3,403
3,109
+1.4%
Cost of revenue
481
604
578
-20.4%
Gross profit
2,968
n/a
2,531
Gross margin
86.1%
n/a
81.4%
Research and development
566
564
556
+0.4%
Operating income
1,082
904
683
+19.7%
Operating margin
31.4%
26.6%
22.0%
Interest expense
60.0
61.0
51.0
-1.6%
Pre-tax income
1,042
856
653
+21.7%
Income tax
354
292
206
+21.2%
Effective tax rate
34.0%
34.1%
31.5%
Net income
634
574
447
+10.5%
Net margin
18.4%
16.9%
14.4%
Diluted EPS
$2.00
$1.77
$1.35
+13.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,013
998
812
+1.5%
Capital expenditure
114
74.0
131
+54.1%
Free cash flow
899
924
681
-2.7%
Free cash flow margin
26.1%
27.2%
21.9%
Cash from investing
497
-997
-432
Cash from financing
-1,006
-467
-110
Depreciation and amortisation
173
191
208
-9.4%
Share-based compensation
153
135
133
+13.3%
Buybacks
1,360
900
300
+51.1%
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
317m
325m
330m
-2.5%
Shares outstanding at period end
301m
314m
323m
-4.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,616
2,821
2,557
-7.3%
Debt
999
998
998
+0.1%
Other liabilities
1,495
1,379
1,271
+8.4%
Total liabilities and equity
5,110
5,198
4,826
-1.7%
Fixed assets
561
510
527
+10.0%
Goodwill
960
1,914
1,754
-49.8%
Intangible assets
180
256
291
-29.7%
Investments
762
1,499
765
-49.2%
Cash and equivalents
722
214
679
+237.4%
Receivables
171
135
135
+26.7%
Other assets
1,754
670
675
+161.8%
Total assets
5,110
5,198
4,826
-1.7%
10-K for the year ended 31 July 2011, filed 14 September 2011: the filing.