"We are well positioned to take advantage of this era with our AI-driven expert platform strategy and five Big Bets that pursue the largest customer problems and growth drivers for Intuit." - Sasan Goodarzi, CEO
— Sasan Goodarzi
03Detailed Report
INTU
Intuit Inc
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 5, 2026
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Executive Summary
Intuit Inc (NASDAQ: INTU) reported a solid performance in Q3 2024, with total revenue reaching $6.7 billion, marking a 12% increase year-over-year (YoY). The growth was primarily driven by the Small Business and Self-Employed segment, which saw an 18% rise in revenue, demonstrating resilience in a challenging macroeconomic environment. The Consumer Group also contributed with a 9% increase in revenue. Management emphasized their commitment to innovation, particularly leveraging AI across products like TurboTax and Credit Karma, to enhance user experience and drive future growth.
CEO Sasan Goodarzi highlighted that TurboTax Live, the company’s guiding force in the assisted tax space, is projected to continue its strong performance, reflecting a strategic shift towards a higher average revenue per return (ARPR) customer base. With continued innovations and a focus on the integration of services like TurboTax and Credit Karma, Intuit is well positioned to capitalize on long-term growth prospects in both the consumer and small business segments, amidst emerging competitive dynamics.
Key Performance Indicators
Revenue
Increasing
6.74B
QoQ: 98.97% | YoY: 11.95%
Gross Profit
Increasing
5.55B
82.38% margin
QoQ: 119.28% | YoY: 10.18%
Operating Income
Increasing
3.11B
QoQ: 741.46% | YoY: 11.77%
Net Income
Increasing
2.39B
QoQ: 576.77% | YoY: 14.47%
EPS
Increasing
8.53
QoQ: 576.98% | YoY: 14.80%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Performance:
- Total Revenue: $6.7 billion (YoY growth of 12%).
- Small Business & Self-Employed Revenue: $3.7 billion, up 18% YoY.
- Consumer Group Revenue: $3.0 billion, up 9% YoY.
Cash Flow and Balance Sheet:
- Net Cash Provided by Operating Activities: $3.95 billion.
- Cash at End of Period: $4.2 billion.
- Total Assets: $31.6 billion, Total Liabilities: $12.8 billion, Total Stockholders' Equity: $18.8 billion.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
6.74B
11.95%
98.97%
Gross Profit
5.55B
10.18%
119.28%
Operating Income
3.11B
11.77%
741.46%
Net Income
2.39B
14.47%
576.77%
EPS
8.53
14.80%
576.98%
Key Financial Ratios
Gross Profit Margin
Excellent
82.40%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Excellent
46.10%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
35.50%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
7.57%
Return on assets is acceptable but below top-tier companies
Return on Equity
Good
12.70%
Return on equity shows solid performance and effective asset utilization
Current Ratio
Adequate
1.50
Current ratio meets minimum requirements but limited cushion
Debt to Equity
Moderate
0.35
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Fair Value
18.33x
P/E ratio in line with market averages
Price to Book
High Premium
9.34x
Very high premium suggests asset-light business model or lofty expectations
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