Intuit (INTU) FY2019 results: revenue $6.8 billion, up 12.6% on the year
Intuit Inc. (INTU) reported revenue of $6.8 billion for fiscal 2019, the year ended 31 July 2019, up 12.6% on the year before. Net income was $1.6 billion, up 17.2%, and diluted earnings per share $5.89. The figures are the company's own, from the 10-K it filed with the SEC on 30 August 2019.
Revenue
$6.8 billion
+12.6% on the year
FY2012FY2019
Operating margin
27.3%
25.9% a year earlier
FY2012FY2019
Net income
$1.6 billion
+17.2% on the year
FY2012FY2019
Diluted EPS
$5.89
+15.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,784
6,025
5,196
+12.6%
Cost of revenue
1,147
962
797
+19.2%
Gross profit
5,637
5,063
n/a
+11.3%
Gross margin
83.1%
84.0%
n/a
Research and development
1,233
1,186
998
+4.0%
Operating income
1,854
1,560
1,418
+18.8%
Operating margin
27.3%
25.9%
27.3%
Interest expense
15.0
20.0
31.0
-25.0%
Pre-tax income
1,881
1,566
1,390
+20.1%
Income tax
324
237
405
+36.7%
Effective tax rate
17.2%
15.1%
29.1%
Net income
1,557
1,329
985
+17.2%
Net margin
23.0%
22.1%
19.0%
Diluted EPS
$5.89
$5.09
$3.78
+15.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,324
2,112
1,599
+10.0%
Capital expenditure
76.0
38.0
102
+100.0%
Free cash flow
2,248
2,074
1,497
+8.4%
Free cash flow margin
33.1%
34.4%
28.8%
Cash from investing
-635
-532
-17.0
Cash from financing
-965
-639
-1,632
Depreciation and amortisation
205
234
216
-12.4%
Share-based compensation
401
382
326
+5.0%
Buybacks
556
272
839
+104.4%
Dividends paid
501
407
353
+23.1%
Dividend per share
$1.88
$1.56
$1.36
+20.5%
Diluted shares, weighted
264m
261m
261m
+1.1%
Shares outstanding at period end
260m
259m
256m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,749
2,816
1,699
+33.1%
Debt
436
438
488
-0.5%
Other liabilities
2,098
1,880
1,881
+11.6%
Total liabilities and equity
6,283
5,134
4,068
+22.4%
Fixed assets
780
812
1,030
-3.9%
Goodwill
1,655
1,611
1,295
+2.7%
Intangible assets
54.0
61.0
22.0
-11.5%
Investments
637
265
279
+140.4%
Cash and equivalents
2,116
1,464
529
+44.5%
Receivables
87.0
98.0
103
-11.2%
Other assets
954
823
810
+15.9%
Total assets
6,283
5,134
4,068
+22.4%
10-K for the year ended 31 July 2019, filed 30 August 2019: the filing.