Latest Ratios: P/E Ratio 21.4x · EV/EBITDA 14.6x · ROE 20.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $80.0B | $222.2B | $183.8B | $144.8B | $129.6B | $144.7B | $80.9B | $73.2B | $53.3B | $35.8B | $29.4B |
| Enterprise Value | $83.7B | $225.9B | $186.8B | $148.7B | $134.3B | $144.6B | $78.1B | $71.5B | $52.3B | $35.8B | $29.8B |
| P/E Ratio → | 21.39 | 57.43 | 62.07 | 60.77 | 62.75 | 70.19 | 44.27 | 47.00 | 40.13 | 36.88 | 36.51 |
| P/S Ratio | 4.25 | 11.80 | 11.29 | 10.08 | 10.18 | 15.02 | 10.53 | 10.79 | 8.85 | 6.92 | 6.27 |
| P/B Ratio | 4.20 | 11.27 | 9.97 | 8.39 | 7.88 | 14.66 | 15.84 | 19.53 | 22.65 | 26.45 | 25.33 |
| P/FCF | 13.15 | 36.53 | 39.67 | 30.26 | 35.40 | 46.30 | 35.52 | 33.75 | 26.81 | 26.16 | 33.46 |
| P/OCF | 12.88 | 35.80 | 37.64 | 28.70 | 33.31 | 44.52 | 33.51 | 31.50 | 25.24 | 22.40 | 20.99 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.00 | 11.47 | 10.35 | 10.55 | 15.01 | 10.17 | 10.54 | 8.68 | 6.91 | 6.34 |
| EV / EBITDA | 14.61 | 39.42 | 42.27 | 37.66 | 40.49 | 50.51 | 32.61 | 34.41 | 28.84 | 21.63 | 20.12 |
| EV / EBIT | 17.01 | 44.47 | 49.26 | 45.92 | 51.20 | 55.94 | 35.17 | 37.73 | 32.96 | 25.17 | 23.97 |
| EV / FCF | — | 37.14 | 40.31 | 31.06 | 36.69 | 46.27 | 34.29 | 32.98 | 26.30 | 26.13 | 33.87 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.8% | 80.8% | 78.7% | 78.1% | 81.1% | 82.5% | 82.1% | 82.8% | 82.8% | 84.4% | 84.0% |
| Operating Margin | 26.1% | 26.1% | 22.3% | 21.9% | 20.2% | 26.0% | 28.3% | 27.3% | 25.9% | 27.4% | 26.5% |
| Net Profit Margin | 20.5% | 20.5% | 18.2% | 16.6% | 16.2% | 21.4% | 23.8% | 23.0% | 22.1% | 18.8% | 20.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.3% | 20.3% | 16.6% | 14.1% | 15.7% | 27.5% | 41.2% | 51.0% | 71.7% | 77.2% | 56.1% |
| ROA | 11.2% | 11.2% | 9.9% | 8.6% | 9.6% | 15.6% | 21.2% | 27.2% | 28.7% | 23.3% | 21.2% |
| ROIC | 16.5% | 16.5% | 12.8% | 11.1% | 12.5% | 31.0% | 74.7% | 81.9% | 88.6% | 75.0% | 52.5% |
| ROCE | 19.2% | 19.2% | 14.9% | 13.1% | 13.9% | 24.7% | 37.1% | 47.8% | 56.1% | 68.8% | 47.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.36 | 0.39 | 0.46 | 0.25 | 0.71 | 0.12 | 0.19 | 0.36 | 0.86 |
| Debt / EBITDA | 1.16 | 1.16 | 1.49 | 1.69 | 2.27 | 0.87 | 1.52 | 0.21 | 0.24 | 0.30 | 0.68 |
| Net Debt / Equity | — | 0.19 | 0.16 | 0.22 | 0.29 | -0.01 | -0.55 | -0.45 | -0.44 | -0.03 | 0.31 |
| Net Debt / EBITDA | 0.66 | 0.66 | 0.67 | 0.97 | 1.43 | -0.03 | -1.17 | -0.81 | -0.57 | -0.02 | 0.24 |
| Debt / FCF | — | 0.62 | 0.64 | 0.80 | 1.30 | -0.03 | -1.23 | -0.77 | -0.52 | -0.03 | 0.41 |
| Interest Coverage | 20.57 | 20.57 | 15.67 | 13.05 | 32.38 | 89.14 | 158.57 | 126.40 | 79.30 | 45.84 | 31.85 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.36 | 1.36 | 1.29 | 1.47 | 1.39 | 1.94 | 2.26 | 1.83 | 1.39 | 0.73 | 0.72 |
| Quick Ratio | 1.36 | 1.36 | 1.29 | 1.47 | 1.39 | 1.94 | 2.26 | 1.83 | 1.39 | 0.73 | 0.72 |
| Cash Ratio | 0.44 | 0.44 | 0.54 | 0.97 | 0.90 | 1.46 | 2.00 | 1.39 | 0.98 | 0.40 | 0.48 |
| Asset Turnover | — | 0.51 | 0.51 | 0.52 | 0.46 | 0.62 | 0.70 | 1.08 | 1.16 | 1.27 | 1.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 38.44 | 29.52 | 28.48 | 30.06 | 24.48 | 7.65 | 8.18 | 8.30 | 11.70 | 9.95 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.4% | 0.5% | 0.6% | 0.6% | 0.6% | 0.4% | 0.7% | 0.7% | 0.8% | 1.0% | 1.1% |
| Payout Ratio | 30.7% | 30.7% | 34.9% | 37.3% | 37.5% | 31.3% | 30.7% | 32.2% | 30.6% | 36.4% | 32.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 1.7% | 1.6% | 1.6% | 1.6% | 1.4% | 2.3% | 2.1% | 2.5% | 2.7% | 2.7% |
| FCF Yield | 7.6% | 2.7% | 2.5% | 3.3% | 2.8% | 2.2% | 2.8% | 3.0% | 3.7% | 3.8% | 3.0% |
| Buyback Yield | 3.5% | 1.2% | 1.1% | 1.4% | 1.4% | 0.7% | 0.4% | 0.8% | 0.5% | 2.3% | 7.7% |
| Total Shareholder Yield | 4.9% | 1.8% | 1.6% | 2.0% | 2.0% | 1.1% | 1.1% | 1.4% | 1.3% | 3.3% | 8.8% |
| Shares Outstanding | — | $283M | $284M | $283M | $284M | $273M | $264M | $264M | $261M | $261M | $265M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying INTU stock.
Intuit Inc.'s current P/E ratio is 21.4x. The historical average is 37.3x. This places it at the 11th percentile of its historical range.
Intuit Inc.'s current EV/EBITDA is 14.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.7x.
Intuit Inc.'s return on equity (ROE) is 20.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 24.6%.
Based on historical data, Intuit Inc. is trading at a P/E of 21.4x. This is at the 11th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Intuit Inc.'s current dividend yield is 1.44% with a payout ratio of 30.7%.
Intuit Inc. has 80.8% gross margin and 26.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Intuit Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
AI disruption to core tax products
Metrics are mathematically derived from official filings.
Valuation Discount to Software Peers
Intuit trades at a forward P/E of 13.35x and EV/EBITDA of 9.82x, representing a significant discount to software peers like Microsoft (19.35x) and Salesforce (17.14x) according to recent market data, possibly reflecting market skepticism over AI disruption and seasonal earnings concentration.
The valuation multiples appear compressed relative to both its own historical premium and peer averages. However, the discount may be warranted given the heavy reliance on the seasonal tax cycle and the risk of regulatory or technological disruption to TurboTax. The low forward multiples imply that the market is pricing in slower growth or margin compression, which investors should monitor in the context of the company's 'Big Bet' investments in Mailchimp and Credit Karma.
Seasonal Margin Swings Mask Underlying Power
Intuit's operating margin swings from -4.7% in 2024Q4 to 47.0% in 2026Q3, as reported in financial statements, highlighting the extreme seasonality of its tax business and the high fixed-cost structure.
The gross margin remains consistently high, averaging 80.8% over the last ten quarters, but operating and net margins are distorted by the quarterly revenue concentration. The third fiscal quarter generates the majority of annual profit, which suggests that the company's true earning power is high but must be evaluated on a trailing twelve-month basis. Stock-based compensation, which averaged about 14% of revenue in non-peak quarters, also erodes GAAP profitability, indicating that cash flow metrics may be a better gauge of underlying performance.
Working Capital Driven by Tax-Season Inflows
The cash conversion cycle is highly volatile, with days payable outstanding surging to 634 in 2026Q4, reflecting the seasonal buildup of deferred revenue and accrued liabilities ahead of the tax filing peak, based on the reported quarterly data.
Asset turnover is low and fluctuates with seasonality, averaging 0.22 in peak quarters but falling below 0.12 in off-peak periods. The days sales outstanding are moderate, but the days payable outstanding can exceed 600 days in the quarter following tax season, indicating that Intuit collects cash from customers upfront and defers payments to suppliers and partners. This cycle provides a natural funding advantage, but it also means that efficiency metrics are not comparable to non-seasonal peers and should be assessed on an annualized basis.
Strong Liquidity Buffer Despite Seasonal Swings
Intuit's current ratio averaged 1.37 over the last ten quarters, with a quick ratio matching the current ratio (no inventory), suggesting robust liquidity that can withstand short-term stress, as per the balance sheet data.
The company's liquidity position is healthy, with cash and liquid assets typically exceeding short-term liabilities. However, the cash balance fluctuates significantly due to seasonal cash inflows from tax filings, reaching peaks in the third quarter and troughs in the first quarter. The absence of inventory simplifies the quick ratio, but the high level of deferred revenue (a current liability) means that the current ratio is the primary indicator of liquidity. Given the defensive nature of tax compliance, the liquidity position appears sufficient to cover obligations even in a downturn.
P/E Ratio Misleads in Seasonal Model
The trailing P/E ratio of 23.27x is often misapplied to Intuit because the company's earnings are heavily concentrated in a single quarter, making the metric volatile and misleading compared to the forward P/E of 13.35x.
Investors relying on the trailing P/E may misjudge the company's valuation because the denominator (net income) is dominated by the tax season quarter. This creates an optical earnings multiple that can be significantly higher or lower than the underlying run-rate. A more appropriate metric is the forward P/E or EV/EBITDA, which smooth out seasonality and reflect the market's expectation for future earnings. Additionally, the P/E ratio does not account for the substantial stock-based compensation, which dilutes shareholders but is excluded from forward earnings estimates.