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Intuit Inc. (INTU)

被低估
TechnologySoftware - ApplicationUnited States

基本面

82

价格

$275.71

市值

$74.06B

第一部分 · 这家公司值多少

概览

Intuit sells financial software that individuals, small businesses and accountants use every year: TurboTax for filing taxes, QuickBooks for bookkeeping and payroll, Credit Karma for free credit scores and financial product matching, and ProSeries/Lacerte for professional tax preparers. Nearly every U.S. small business and a large share of American taxpayers touch at least one of its products, giving Intuit a footprint few competitors can match across both consumer and small-business finance.

盈利方式

Most revenue is subscription: QuickBooks and payroll customers pay monthly fees, and TurboTax charges per tax return with pricier tiers for live human help. Credit Karma earns differently — it is free to use and paid instead by banks, lenders and insurers for successful referrals, so its revenue rises and falls with how much those partners are willing to spend on customer acquisition. Intuit is highly seasonal: a large share of consumer revenue lands in the January–April tax season.

分部营收

Global Business Solutions59%

QuickBooks accounting and payroll software plus Mailchimp email marketing, sold mainly to small and mid-sized businesses on subscription.

Consumer26%

TurboTax tax-filing software for individuals, priced from free simple returns up to paid tiers with live expert review.

Credit Karma12%

A free platform that shows users their credit score and matches them with credit cards, loans and insurance, earning referral fees from those lenders.

ProTax3%

Tax preparation software sold to professional accountants and tax preparers who file returns on behalf of clients.

护城河

转换成本 · 宽阔

QuickBooks holds years of a small business's accounting history, bank feeds and accountant relationships, so switching means re-entering data and retraining staff — a cost most owners avoid paying. TurboTax benefits from the same inertia at the consumer level: once a return is filed correctly, most people return the following year rather than start over elsewhere.

需求驱动因素

中度周期性

Tax filing happens every year almost regardless of the economy, which anchors the Consumer and ProTax segments. QuickBooks and Credit Karma are more sensitive to the cycle: small-business formation slows in a downturn, and Credit Karma's revenue depends on how aggressively banks and lenders are marketing for new borrowers, which they pull back sharply when credit conditions tighten.

主要风险

  • Free government tax filing — The IRS's own free electronic filing option and other no-cost preparers compete directly with TurboTax's paid tiers, threatening the segment that funds much of Intuit's marketing and profit.
  • Credit Karma tied to lender ad budgets — Credit Karma earns money only when banks, card issuers and insurers pay for referrals; when those partners tighten lending or cut marketing spend, Credit Karma's revenue can fall quickly.
  • Data security across sensitive financial records — Intuit stores tax returns, bank connections and payroll data for tens of millions of people and businesses; a breach would be especially damaging given how sensitive that information is.
  • Segment reorganization underway — Intuit folded Consumer, Credit Karma and ProTax into a single reporting unit starting fiscal 2026, so investors comparing future results to the segment figures cited here should expect a break in the series.

看多理由

Buyers argue that QuickBooks' grip on small-business bookkeeping and TurboTax's habitual annual use give Intuit durable pricing power, and that AI-driven features can raise revenue per customer across all four segments at once.

看空理由

Sellers worry that free filing alternatives cap TurboTax's growth, that Credit Karma's revenue is really a lender-marketing budget that can be cut overnight, and that QuickBooks faces rising competition from cheaper accounting tools built for very small businesses.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

资产负债表与流动性

营收

$21.45B

最近12个月(截至2026/7/31)

净利润

$4.57B

最近12个月(截至2026/7/31)

自由现金流

$8.66B

股东权益合计

$18.99B

负债合计

$17.79B

流动比率

1.51

利息覆盖率

22.98

债务/EBITDA

1.23

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

一般情形被低估

公允价值

$505.37

当前价格

$275.71

安全边际

+45.4%

公允价值区间

$328.49 - $682.25

所用估值方法之间的离散区间,并非经过统计校准的置信区间。

估算方法

分析师目标价:$405.60
现金流折现法(DCF):$1017.69
市盈率法(P/E):$199.98
格雷厄姆成长公式:$612.42
盈利能力价值(EPV):$176.64
合理市净率(P/B):$242.23
股息折现模型(戈登模型):$90.20
P/FFO(运营资金):数据不足,无法计算
周期中段收益:$519.83
市销率法(P/S):$402.48
分析师共识:买入 (24B / 16H / 2S)
最近财报超预期:+10.31%

估值指标

市盈率(P/E)

16.75

ROE

24.0%

市净率(P/B)

3.88

P/FCF

8.51

毛利率

-

ROIC

17.5%

盈利能力雷达图

价值创造(经济护城河)

ROIC

17.5%

WACC

8.9%

ROIC − WACC

+8.5 pp

ROIC 超过资本成本:公司正在为股东创造价值。

基本面分析标准

通过(22)

  • EPS shows upward trend
  • EPS CAGR 14.63%
  • Price CAGR 9.61%
  • ROIC 17.5%
  • P/FCF 8.51
  • Debt/Equity ratio
  • Operating Margin 27.4%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 23.4%
  • Revenue Growth 5Y 17.4%
  • Analyst Consensus 57% Buy
  • Earnings Surprise avg 6.7%
  • PEG Ratio 0.99
  • Earnings Quality (OCF/NI) 1.94
  • Share Dilution -2.0%
  • Net Margin Trend 21.3% vs 20.5%
  • Piotroski F-Score 7/9

未通过(4)

  • P/B Ratio 3.88
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

不可用(2)

  • Gross Margin NaN%
  • Dividend Payout NaN%

Piotroski F-评分

7/9

财务状况强健

score
criteria

盈利质量

1.94

高质量:盈利有现金流支撑

股权稀释

-2.0%

正在回购股份,对股东友好

机构持股

公司治理

管理团队

姓名职位年龄
Mr. Sasan K. GoodarziCEO, President & Chairman57
Mr. Scott D. CookFounder & Director73
Mr. Sandeep Singh AujlaExecutive VP & CFO49
Mr. Alex G. BalazsExecutive VP & CTO53
Mr. Mark NotarainniExecutive VP & GM of Consumer Group55
Ms. Lauren D. HotzSenior VP & Chief Accounting Officer49
Anne-Sophie SeigneurbieuxSenior Vice President of Investor Relations, Corporate & Strategic Finance-
Kendra GoodenoughVP & Head of Investor Relations-
Mr. Tyler CozzensExecutive VP, General Counsel and Corporate Secretary-
Ms. Shveta MujumdarVice President of Corporate Development46

审计风险

1

董事会风险

4

薪酬风险

4

股东权利风险

2

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

文件

  • 年度报告(10-K)

    对公司业务、财务业绩和风险的年度概述。

    提交日期:2026-09-09

    查看文件
  • 季度报告(10-Q)

    最近三个月财务表现的最新情况。

    提交日期:2026-05-20

    查看文件
  • 临时报告(8-K)

    关于重大事件(如管理层变动或重要公告)的通知。

    提交日期:2026-08-25

    查看文件

via SEC EDGAR

损益历史

via SEC EDGAR

Latest News

Recent headlines for INTU, sourced from Markets Gazette.

  • 8/26/2026NEGATIVE
    Forti vendite su Intuit in scia ai downgrade dopo guidance deludente

    Intuit Inc. experienced significant selling pressure on Wall Street following a wave of analyst downgrades. The financial software and services company was downgraded due to weaker growth prospects and concerning signals, prompting a negative outlook from market watchers. Investors are advised to monitor Intuit's upcoming earnings reports and management commentary for signs of recovery or further deterioration in its growth trajectory.

  • 8/26/2026NEUTRAL
    Intuit hits a record milestone of $20 billion in revenue—and sets the stage for a strategic pullback

    Intuit has achieved a significant milestone, surpassing $20 billion in revenue. However, the company's CFO, Sandeep Aujla, described the current phase as a "reset to reaccelerate," indicating a strategic shift. Intuit is prioritizing the rebuilding of its customer-acquisition engine, even if it means sacrificing short-term revenue gains. This move suggests a long-term focus on sustainable growth and market positioning over immediate financial performance. Investors will be watching to see if this strategic pullback yields future market share expansion and enhanced customer loyalty.

  • 8/25/2026NEGATIVE
    Intuit Sinks 11% on Weak Outlook as Nvidia Earnings Loom | Closing Bell

    Intuit Inc. experienced a significant decline, with its stock price dropping 11% following the release of a weak financial outlook. This downturn occurred as investors awaited earnings reports from other major tech companies, including Nvidia. The company's forward-looking guidance failed to meet market expectations, raising concerns about future growth prospects and potentially impacting its valuation. Investors are now reassessing their positions in Intuit amid this cautious outlook, while the broader market remains focused on upcoming corporate results.

  • 8/24/2026NEUTRAL
    Previsioni sul titolo Intuit prima degli utili: compra, vendi o tieni?

    Intuit Inc. (INTU) stock has seen a significant surge, climbing 46% from its yearly low to reach $367, its highest point since May 20th. This upward trend mirrors the broader software sector's performance, with investors actively buying dips. However, this rally faces a crucial test as the company prepares to release its financial results. Intuit, a major software player known for QuickBooks, Credit Karma, Mailchimp, and TurboTax, is navigating market concerns, including the 'SaaSpocalypse' fears, which could impact its upcoming earnings report and future stock performance.

  • 6/14/2026NEGATIVE
    Intuit, Adobe, Zscaler, Workday Plunge Amid SaaSpocalypse Fears: Buy The Dip?

    Intuit Inc. (INTU) experienced a significant price decline, alongside other major software-as-a-service (SaaS) providers like Adobe (ADBE), Zscaler (ZS), and Workday (WDAY). This downturn is attributed to 'SaaSpocalypse fears,' suggesting investor concerns about the long-term sustainability or growth prospects of the SaaS business model. The sharp drop in these prominent tech stocks indicates a potential shift in market sentiment, prompting questions about whether this is a buying opportunity or a signal of deeper systemic issues within the sector. Investors are closely monitoring these developments for potential sector-wide implications.

  • 6/2/2026NEGATIVE
    Intuit Stock Slides After Goldman Downgrades To Sell

    Intuit Inc. (NASDAQ:INTU) experienced a significant stock price decline following a downgrade from Goldman Sachs to a 'Sell' rating. The downgrade signals a bearish outlook from a key financial institution, suggesting potential headwinds or overvaluation concerns for the financial software company. Investors are likely reacting to the analyst's revised assessment, leading to increased selling pressure and a downward revision of the stock's price target. This move could indicate a shift in market sentiment towards Intuit, potentially impacting its future performance and investor confidence.

  • 5/27/2026POSITIVE
    BofA Securities Analyst Sees Intuit Rebound Despite Layoffs, DIY Tax Weakness, AI Pressure

    BofA Securities has initiated coverage on Intuit Inc. with a positive outlook, despite recent challenges including layoffs and weakness in its DIY tax segment, alongside pressure from AI advancements. The firm highlights Intuit's robust profit margins and a significant growth runway as key drivers for its optimistic stance. The analysis suggests that improving fundamental factors within the company are poised to support a rebound in its stock performance. Investors may find this a compelling signal for potential upside, as BofA Securities points to underlying strengths that could outweigh current headwinds.

  • 5/21/2026NEGATIVE
    Intuit Stock Cracks After Layoffs, TurboTax Warning

    Intuit Inc. saw its stock price decline following a series of negative developments. The company announced significant layoffs and issued a warning regarding weaker trends for its TurboTax product. These factors, coupled with restructuring plans, overshadowed the reported earnings growth. For investors, this signals potential headwinds in key business segments and operational challenges, raising concerns about future revenue streams and profitability despite current earnings figures.

via Markets Gazette