Intuit Inc (0JCT.L) Q3 2025 Earnings Report

Intuit delivered a solid QQ3 2025 performance characterized by double-digit top-line growth, exceptionally high gross margins, and robust free cash flow generation. Revenue of USD 7.754 billion marked a YoY increase of 15.1%, while QoQ growth remained strong from a low prior-period base, underscoring the durability of Intuit’s diversified software portfolio across Small Business & Self-Employed (SB/SE), Consumer, Credit Karma, and ProConnect. The combination of a high-margin product mix, disciplined operating expense management, and a proactive capital allocation program supported a substantial expansion in operating income to USD 3.72 billion and net income of USD 2.82 billion, delivering an EPS of USD 10.09 (diluted USD 10.02). Free cash flow remained a standout feature, with USD 4.36 billion of free cash flow and USD 15.57 in FCF per share, reflecting efficient working capital and strong cash generation from operations. The balance sheet remains fortress-like, with cash and cash equivalents of USD 5.44 billion and total liquidity supported by substantial cash and short-term investments (~USD 6.17 billion). The company also returned capital to shareholders, evidenced by USD 752 million in share repurchases and USD 292 million in dividends during the period. Intuit’s cash-rich profile supports strategic investment in growth initiatives and potential bolt-on opportunities while maintaining a durable competitive moat around core QuickBooks/SB/SE and tax-related franchises. Looking ahead, management commentary (where available in the public transcript) points to continued demand for cloud-based SMB accounting solutions, payroll and payments processing, and tax/productivity software adjacent to TurboTax and Credit Karma. While explicit full-year guidance for QQ4/FY remains sparse in the provided data, the current quarter’s strength implies continued leverage from the cloud transition, cross-sell opportunities across the SB/SE and Consumer segments, and ongoing free cash flow expansion. Investors should monitor seasonal tax dynamics, the pace of non-tax revenue mix expansion, and competitive dynamics in SMB accounting software as key drivers of the longer-term earnings trajectory.