Intuit (INTU) FY2020 results: revenue $7.7 billion, up 13.2% on the year
Intuit Inc. (INTU) reported revenue of $7.7 billion for fiscal 2020, the year ended 31 July 2020, up 13.2% on the year before. Net income was $1.8 billion, up 17.3%, and diluted earnings per share $6.92. The figures are the company's own, from the 10-K it filed with the SEC on 31 August 2020.
Revenue
$7.7 billion
+13.2% on the year
FY2013FY2020
Operating margin
28.3%
27.3% a year earlier
FY2013FY2020
Net income
$1.8 billion
+17.3% on the year
FY2013FY2020
Diluted EPS
$6.92
+17.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
7,679
6,784
6,025
+13.2%
Cost of revenue
1,356
1,147
962
+18.2%
Gross profit
6,323
5,637
5,063
+12.2%
Gross margin
82.3%
83.1%
84.0%
Research and development
1,392
1,233
1,186
+12.9%
Operating income
2,176
1,854
1,560
+17.4%
Operating margin
28.3%
27.3%
25.9%
Interest expense
14.0
15.0
20.0
-6.7%
Pre-tax income
2,198
1,881
1,566
+16.9%
Income tax
372
324
237
+14.8%
Effective tax rate
16.9%
17.2%
15.1%
Net income
1,826
1,557
1,329
+17.3%
Net margin
23.8%
23.0%
22.1%
Diluted EPS
$6.92
$5.89
$5.09
+17.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,414
2,324
2,112
+3.9%
Capital expenditure
59.0
76.0
38.0
-22.4%
Free cash flow
2,355
2,248
2,074
+4.8%
Free cash flow margin
30.7%
33.1%
34.4%
Cash from investing
-97.0
-635
-532
Cash from financing
2,034
-965
-639
Depreciation and amortisation
195
205
234
-4.9%
Share-based compensation
435
401
382
+8.5%
Buybacks
323
556
272
-41.9%
Dividends paid
561
501
407
+12.0%
Dividend per share
$2.12
$1.88
$1.56
+12.8%
Diluted shares, weighted
264m
264m
261m
0.0%
Shares outstanding at period end
262m
260m
259m
+0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,106
3,749
2,816
+36.2%
Debt
3,369
436
438
+672.7%
Operating lease liabilities
221
n/a
n/a
Other liabilities
2,235
2,098
1,880
+6.5%
Total liabilities and equity
10,931
6,283
5,134
+74.0%
Fixed assets
734
780
812
-5.9%
Goodwill
1,654
1,655
1,611
-0.1%
Intangible assets
28.0
54.0
61.0
-48.1%
Investments
627
637
265
-1.6%
Cash and equivalents
6,442
2,116
1,464
+204.4%
Receivables
149
87.0
98.0
+71.3%
Other assets
1,297
954
823
+36.0%
Total assets
10,931
6,283
5,134
+74.0%
10-K for the year ended 31 July 2020, filed 31 August 2020: the filing.