Intuit (INTU) Q1 FY2026 earnings: revenue $3.9 billion, up 18.3% on the year

Intuit Inc. (INTU) reported revenue of $3.9 billion for Q1 FY2026, the quarter ended 31 October 2025, up 18.3% on the same quarter a year earlier. Net income was $446 million, up 126.4% on the year, and diluted earnings per share $1.59. The figures are the company's own, from the 10-Q it filed with the SEC on 20 November 2025.

Revenue

$3.9 billion

+18.3% on the year · +1.4% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

13.7%

8.3% a year earlier

Q2 FY2024Q1 FY2026

Net income

$446 million

+126.4% on the year · +17.1% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.59

+127.1% on the year · +17.8% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 new, 8 kept.

Total revenue rose 18 percent: Total revenue was $3,885 million, compared with $3,283 million in the year-earlier quarter, an increase of 18 percent.
Non-GAAP diluted EPS up 34%: Non-GAAP diluted EPS was $3.34, against $2.50 a year earlier. GAAP diluted EPS was $1.59, against $0.70.
Online Ecosystem revenue up 21%: Global Business Solutions revenue was $3.0 billion, up 18 percent. Online Ecosystem revenue was $2.4 billion, up 21 percent.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	3,885	3,831	3,283	+1.4%	+18.3%
Cost of revenue	883	738	823	+19.6%	+7.3%
Gross profit	3,002	3,093	2,460	-2.9%	+22.0%
Gross margin	77.3%	80.7%	74.9%
Research and development	843	801	704	+5.2%	+19.7%
Operating income	534	339	271	+57.5%	+97.0%
Operating margin	13.7%	8.8%	8.3%
Interest expense	58.0	59.0	60.0	-1.7%	-3.3%
Pre-tax income	561	366	213	+53.3%	+163.4%
Income tax	115	-15.0	16.0		+618.8%
Effective tax rate	20.5%	-4.1%	7.5%
Net income	446	381	197	+17.1%	+126.4%
Net margin	11.5%	9.9%	6.0%
Diluted EPS	$1.59	$1.35	$0.70	+17.8%	+127.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	637	381	362	+67.2%	+76.0%
Capital expenditure	38.0	n/a	33.0		+15.2%
Free cash flow	599	n/a	329		+82.1%
Free cash flow margin	15.4%	n/a	10.0%
Cash from investing	1,198	-1,225	-188
Cash from financing	-4,372	142	761
Depreciation and amortisation	165	164	164	+0.6%	+0.6%
Share-based compensation	543	490	511	+10.8%	+6.3%
Buybacks	854	746	557	+14.5%	+53.3%
Dividends paid	341	301	296	+13.3%	+15.2%
Dividend per share	$1.20	n/a	$1.04		+15.4%
Diluted shares, weighted	281m	282m	283m	-0.4%	-0.7%
Shares outstanding at period end	278m	279m	280m	-0.3%	-0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	19,322	19,710	18,136	-2.0%	+6.5%
Debt	6,140	5,973	6,124	+2.8%	+0.3%
Operating lease liabilities	643	597	592	+7.7%	+8.6%
Other liabilities	7,086	10,678	8,341	-33.6%	-15.0%
Total liabilities and equity	33,191	36,958	33,193	-10.2%	-0.0%
Fixed assets	965	961	1,008	+0.4%	-4.3%
Goodwill	13,980	13,980	13,844	0.0%	+1.0%
Intangible assets	5,136	5,302	5,662	-3.1%	-9.3%
Investments	92.0	94.0	90.0	-2.1%	+2.2%
Cash and equivalents	3,506	2,884	2,872	+21.6%	+22.1%
Receivables	n/a	530	n/a
Other assets	9,512	13,207	9,717	-28.0%	-2.1%
Total assets	33,191	36,958	33,193	-10.2%	-0.0%

Questions

What was Intuit's revenue in Q1 FY2026?

Intuit (INTU) reported revenue of $3.9 billion for Q1 FY2026, the quarter ended 31 October 2025, up 18.3% on the same quarter a year earlier.

How much did Intuit earn in Q1 FY2026?

Net income for Q1 FY2026 was $446 million, up 126.4% on the year, and diluted earnings per share $1.59.

When did Intuit report Q1 FY2026 results?

Intuit filed its 10-Q for the quarter ended 31 October 2025 with the SEC on 20 November 2025.

Quarterly results, the last 20 quarters

	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	2,007	2,673	5,632	2,414	2,597	3,041	6,018	2,712	2,978	3,386	6,737	3,184	3,283	3,963	7,754	3,831	3,885	4,651	8,558	4,354
Cost of revenue	417	565	824	460	676	773	981	550	760	855	1,067	637	823	937	1,194	738	883	1,043	1,374	953
Gross profit	1,590	2,108	4,808	1,954	1,921	2,268	5,037	2,162	2,218	2,531	5,670	2,547	2,460	3,026	6,560	3,093	3,002	3,608	7,184	3,401
Gross margin	79%	79%	85%	81%	74%	75%	84%	80%	74%	75%	84%	80%	75%	76%	85%	81%	77%	78%	84%	78%
R&D	530	590	600	627	625	630	604	680	680	678	671	725	704	716	707	801	843	836	840	857
Operating income	195	56.0	2,395	-75.0	76.0	270	2,778	17.0	307	369	3,105	-151	271	593	3,720	339	534	855	4,020	475
Operating margin	10%	2%	43%	-3%	3%	9%	46%	1%	10%	11%	46%	-5%	8%	15%	48%	9%	14%	18%	47%	11%
Interest expense	7.0	21.0	21.0	32.0	49.0	65.0	66.0	68.0	65.0	57.0	60.0	60.0	60.0	60.0	68.0	59.0	58.0	58.0	70.0	70.0
Pre-tax income	238	30.0	2,373	-99.0	32.0	228	2,734	-5.0	264	354	3,072	-140	213	571	3,684	366	561	869	4,047	540
Tax rate	4%	-233%	24%	n/a	-25%	26%	24%	n/a	9%	0%	22%	n/a	8%	18%	23%	-4%	20%	20%	24%	33%
Net income	228	100	1,794	-56.0	40.0	168	2,087	89.0	241	353	2,389	-20.0	197	471	2,820	381	446	693	3,064	363
Net margin	11%	4%	32%	-2%	2%	6%	35%	3%	8%	10%	35%	-1%	6%	12%	36%	10%	11%	15%	36%	8%
Diluted EPS	$0.82	$0.35	$6.28	-$0.17	$0.14	$0.60	$7.38	$0.32	$0.85	$1.25	$8.42	-$0.07	$0.70	$1.67	$10.02	$1.35	$1.59	$2.48	$11.09	$1.34
Operating cash flow	145	85.0	3,320	339	328	284	3,592	842	-97.0	613	3,951	417	362	1,069	4,395	381	637	1,570	5,300	1,331
Capital expenditure	42.0	65.0	61.0	n/a	77.0	55.0	88.0	n/a	84.0	63.0	61.0	n/a	33.0	31.0	35.0	n/a	38.0	46.0	64.0	27.0
Free cash flow	103	20.0	3,259	n/a	251	229	3,504	n/a	-181	550	3,890	n/a	329	1,038	4,360	n/a	599	1,524	5,236	1,304
Buybacks	335	539	463	524	510	507	478	472	584	551	572	281	557	717	752	746	854	933	1,554	2,071
Dividends paid	190	195	195	194	222	224	221	222	260	256	257	261	296	300	292	301	341	341	333	332
Shares outstanding	283m	283m	282m	282m	281m	281m	280m	280m	280m	280m	279m	280m	280m	280m	279m	279m	278m	277m	274m	268m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 October 2025, filed 20 November 2025: the filing.