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Intuit (INTU) FY2026 results: revenue $21.4 billion, up 13.9% on the year

Intuit Inc. (INTU) reported revenue of $21.4 billion for fiscal 2026, the year ended 31 July 2026, up 13.9% on the year before. Net income was $4.6 billion, up 18.0%, and diluted earnings per share $16.46. The figures are the company's own, from the 10-K it filed with the SEC on 9 September 2026.

Revenue
$21.4 billion
+13.9% on the year
FY2019FY2026
Operating margin
27.4%
26.1% a year earlier
FY2019FY2026
Net income
$4.6 billion
+18.0% on the year
FY2019FY2026
Diluted EPS
$16.46
+20.4% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 20 new, 1 kept.

  • Full-year revenue rose 14 percent: Fiscal 2026 revenue was $21.4 billion, up 14 percent. Management said the company surpassed $20 billion in revenue for the full year.
  • Earnings per share rose 20 percent: Full-year GAAP diluted EPS was $16.46 and non-GAAP was $24.27, both up 20 percent. Fourth-quarter GAAP diluted EPS was $1.34 and non-GAAP was $4.03.
  • QuickBooks Online Accounting up 23 percent: Full-year QuickBooks Online Accounting revenue rose 23 percent. Fourth-quarter growth of 20 percent was attributed to higher effective prices, customer growth and mix shift.
  • TurboTax units fell 2 percent: Total U.S. TurboTax units were 39.0 million for the year, against 39.9 million. Desktop units fell 7 percent and online units fell 2 percent.
  • Restructuring expense recorded in quarter: Fourth-quarter restructuring expense was $293 million, against $1 million a year earlier. Full-year restructuring was $293 million, against $15 million.
Read the Q4 FY2026 earnings call summary

From this 10-K

Intuit is a financial technology platform serving approximately 93 million consumers, small and mid-market businesses, and accountants worldwide. Its products are TurboTax, Credit Karma, QuickBooks, Mailchimp, Intuit Enterprise Suite and Intuit Accountant Suite. The company was incorporated in California in March 1984, reincorporated in Delaware and completed its initial public offering in March 1993. There are two reportable segments, Global Business Solutions and Consumer, which contributed 60% and 40% of total revenue in fiscal 2026. International revenue was approximately 8% of the consolidated total in each of the last three years.

Intuit Inc., the 10-K for 2026

Intuit is a financial technology platform serving approximately 93 million consumers, small and mid-market businesses, and accountants worldwide. Its products are TurboTax, Credit Karma, QuickBooks, Mailchimp, Intuit Enterprise Suite and Intuit Accountant Suite. The company was incorporated in California in March 1984, reincorporated in Delaware and completed its initial public offering in March 1993. There are two reportable segments, Global Business Solutions and Consumer, which contributed 60% and 40% of total revenue in fiscal 2026. International revenue was approximately 8% of the consolidated total in each of the last three years.

The company describes its strategy as an AI-driven expert platform that brings together data, AI and human tax and financial experts into one system, automating everyday tasks and connecting customers to AI-enabled human experts for the last mile of a decision or to complete the work for them.

Global Business Solutions

This segment serves small and mid-market businesses and accountants. QuickBooks and Intuit Enterprise Suite run on the all-in-one business platform, which covers financial management, human capital management such as payroll and time tracking, money services such as merchant payment processing, bill pay and checking accounts through an FDIC-member bank partner, and financing. Intuit Enterprise Suite is the configurable, AI-powered version for mid-market businesses, with multi-entity and multi-dimensional financial management. Intuit Accountant Suite is the platform for accounting firms running their practices and advising clients. Mailchimp carries marketing automation and customer relationship tools, letting a business promote itself across email, social media, SMS, landing pages, ads and websites from one place.

The payments side offers credit card, debit card, Apple Pay, pay-later instalments, Tap to Pay, PayPal and automated clearing house payment services, for in-person and card-not-present payments, with instant deposit and payment dispute protection for eligible customers, integrated into QuickBooks Online, QuickBooks Desktop and Intuit Enterprise Suite. QuickBooks Checking is a business bank account with a physical and virtual debit card, no-fee instant deposit and envelopes for partitioning funds. Bill Pay handles accounts payable through bill ingestion, bill payment, custom workflows and vendor management, reconciling automatically with the books.

On capital, a customer can use its own data to qualify for and borrow from Intuit through an originating bank partner or from partners on the QuickBooks Capital Marketplace. QuickBooks Line of Credit gives a pre-qualified credit limit from which a business can take a series of term loans, Intuit also acts as a third-party financing provider inside a strategic partner's lending program, and the Intuit Business Credit Card covers purchases and expense management.

QuickBooks Workforce is the human resources and payroll platform, integrating with QuickBooks Online and covering recruiting, onboarding, benefits administration, performance management, time off, time tracking, document management and offboarding, with employee self-service portals and centralised worker profiles. Intuit Experts provides Expert Assisted and Full-Service Bookkeeping, giving a business on-demand access to expert bookkeepers.

Consumer

This segment serves consumers and professional accountants. TurboTax sells do-it-yourself and assisted income tax preparation in the United States and Canada, either self-served or with the help of an AI-enabled human expert. Money products sold directly to consumers include early refund access to any bank account and Credit Karma Money savings and checking accounts through an FDIC-member bank partner.

Credit Karma is the personal finance product. It makes personalised recommendations for credit card, home, auto and personal loan and insurance products, and gives users their credit scores and reports, credit and identity monitoring, credit report dispute, credit building tools, debt pay-down assistance, credit card rewards optimisation and connected account capabilities for understanding net worth.

The professional tax products for accountants are Lacerte, ProSeries and ProConnect Tax Online in the U.S., and ProFile and ProTax Online in Canada.

The seasonality

TurboTax and ProTax sales are typically heavily concentrated in the period from November through April. That puts the busier quarters in the second and third, ending 31 January and 30 April. The filing states the company expects that seasonality to continue to have a material impact on quarterly results.

From Intuit's annual report on Form 10-K for the year ended 31 July 2026. The filing

Written from the 10-K filed 9 September 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue21,44818,83116,285+13.9%
Cost of revenue4,2533,6923,319+15.2%
Gross profit17,19515,13912,966+13.6%
Gross margin80.2%80.4%79.6%
Research and development3,3762,9282,754+15.3%
Operating income5,8844,9233,630+19.5%
Operating margin27.4%26.1%22.3%
Interest expense256247242+3.6%
Pre-tax income6,0174,8343,550+24.5%
Income tax1,451965587+50.4%
Effective tax rate24.1%20.0%16.5%
Net income4,5663,8692,963+18.0%
Net margin21.3%20.5%18.2%
Diluted EPS$16.46$13.67$10.43+20.4%
$ 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

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow8,8386,2074,884+42.4%
Capital expenditure17584.0191+108.3%
Free cash flow8,6636,1234,693+41.5%
Free cash flow margin40.4%32.5%28.8%
Cash from investing-1,412-2,318-227
Cash from financing-7,689-1,510-397
Depreciation and amortisation672653642+2.9%
Share-based compensation2,0561,9681,940+4.5%
Buybacks5,4122,7721,988+95.2%
Dividends paid1,3471,1891,034+13.3%
Dividend per share$4.80$4.16$3.60+15.4%
Diluted shares, weighted277m283m284m-2.1%
Shares outstanding at period end268m279m280m-3.8%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity18,99219,71018,436-3.6%
Debt7,6695,9736,038+28.4%
Operating lease liabilities667597458+11.7%
Other liabilities9,45810,6787,200-11.4%
Total liabilities and equity36,78636,95832,132-0.5%
Fixed assets1,0239611,009+6.5%
Goodwill13,98113,98013,844+0.0%
Intangible assets4,6425,3025,820-12.4%
Investments24894.0131+163.8%
Loansn/an/a912
Cash and equivalents4,7052,8843,609+63.1%
Receivables625530457+17.9%
Other assets11,56213,2076,350-12.5%
Total assets36,78636,95832,132-0.5%

10-K for the year ended 31 July 2026, filed 9 September 2026: the filing.