Intuit achieved a 10.4% year-over-year revenue increase to $8.6 billion in 2026Q3, while successfully expanding gross margins to 84.4% through digital-first automation.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 | Jul'05 | Jul'04 | Jul'03 | Jul'02 | Jul'01 | Jul'00 | Jul'99 | Jul'98 | Jul'97 | Jul'96 |
|---|
| Sales/Revenue | 20.93B | 18.83B | 16.29B | 14.37B | 12.73B | 9.63B | 7.68B | 6.78B | 6.03B | 5.18B | 4.69B | 4.19B | 4.51B | 4.17B | 3.81B | 3.85B | 3.46B | 3.18B | 3.07B | 2.67B | 2.29B | 2.04B | 1.8B | 1.6B | 1.31B | 1.26B | 1.09B | 847.6M | 592.7M | 598.9M | 538.6M |
| Revenue Growth % | 15.07% | 15.63% | 13.34% | 12.9% | 32.11% | 25.45% | 13.19% | 12.6% | 16.38% | 10.29% | 11.98% | -6.97% | 8.03% | 9.53% | -1.12% | 11.46% | 8.56% | 3.5% | 15.04% | 16.57% | 12.53% | 13.07% | 12.85% | 21.71% | 4.02% | 15.33% | 29.05% | 43.01% | -1.04% | 11.2% | 36.11% |
| Cost of Goods Sold | 3.97B | 3.62B | 3.46B | 3.14B | 2.41B | 1.68B | 1.38B | 1.17B | 977M | 809M | 752M | 725M | 668M | 577M | 760M | 654M | 604M | 615.7M | 624.26M | 509.45M | 426.19M | 372.65M | 361.6M | 343.96M | 296.83M | 312.04M | 77.98M | 160.8M | 94.4M | 226.4M | 109.3M |
| COGS % of Revenue | - | 19.24% | 21.28% | 21.88% | 18.91% | 17.47% | 17.95% | 17.2% | 16.22% | 15.63% | 16.02% | 17.29% | 14.82% | 13.83% | 19.96% | 16.98% | 17.48% | 19.35% | 20.3% | 19.06% | 18.59% | 18.29% | 20.06% | 21.54% | 22.62% | 24.74% | 7.13% | 18.97% | 15.93% | 37.8% | 20.29% |
| Gross Profit | 16.95B | 15.21B | 12.82B | 11.22B | 10.32B | 7.95B | 6.3B | 5.62B | 4.99B | 4.37B | 3.94B | 3.47B | 3.84B | 3.59B | 3.39B | 3.2B | 2.85B | 2.57B | 2.45B | 2.16B | 1.89B | 1.67B | 1.44B | 1.26B | 1.02B | 949.42M | 1.02B | 686.8M | 498.3M | 372.5M | 429.3M |
| Gross Margin % | 81.03% | 80.76% | 78.72% | 78.13% | 81.09% | 82.53% | 82.06% | 82.8% | 82.77% | 84.37% | 83.98% | 82.71% | 85.18% | 86.17% | 89.05% | 83.02% | 82.52% | 80.65% | 79.7% | 80.94% | 82.24% | 81.71% | 79.85% | 78.9% | 77.95% | 75.26% | 92.87% | 81.03% | 84.07% | 62.2% | 79.71% |
| Gross Profit Growth % | - | 18.62% | 14.21% | 8.77% | 29.81% | 26.17% | 12.18% | 12.63% | 14.17% | 10.81% | 13.7% | -9.67% | 6.79% | 5.99% | 6.07% | 12.14% | 11.07% | 4.74% | 13.28% | 14.73% | 13.25% | 15.71% | 14.2% | 23.19% | 7.73% | -6.54% | 47.91% | 37.83% | 33.77% | -13.23% | 41.87% |
| Operating Expenses | 11.22B | 10.28B | 9.19B | 8.08B | 7.75B | 5.45B | 4.13B | 3.76B | 3.49B | 2.97B | 2.7B | 2.73B | 2.32B | 2.2B | 2.03B | 2.01B | 1.99B | 1.79B | 1.74B | 1.53B | 1.31B | 1.12B | 996.09M | 851.49M | 778.29M | 992.96M | 869.95M | 666.9M | 481M | 351.2M | 435.2M |
| OpEx % of Revenue | - | 54.61% | 56.43% | 56.26% | 60.89% | 56.58% | 53.72% | 55.47% | 57.93% | 57.43% | 57.52% | 65.1% | 51.53% | 52.7% | 53.36% | 52.25% | 57.54% | 56.21% | 56.5% | 57.09% | 57.16% | 55.18% | 55.27% | 53.32% | 59.31% | 78.72% | 79.53% | 78.68% | 81.15% | 58.64% | 80.8% |
| Selling, General & Admin | 7.18B | 6.64B | 5.73B | 5.06B | 4.99B | 3.63B | 2.73B | 2.52B | 2.3B | 1.97B | 1.81B | 1.77B | 1.59B | 1.53B | 1.41B | 1.39B | 1.32B | 1.22B | 1.15B | 1.03B | 934.35M | 808.91M | 747.29M | 652.19M | 562.35M | 522.49M | 487.66M | 382.2M | 319.2M | 199.5M | 366.8M |
| SG&A % of Revenue | - | 35.24% | 35.19% | 35.23% | 39.18% | 37.64% | 35.51% | 37.21% | 38.14% | 38.11% | 38.5% | 42.25% | 35.4% | 36.61% | 37.13% | 36.15% | 38.32% | 38.19% | 37.55% | 38.66% | 40.75% | 39.7% | 41.46% | 40.84% | 42.85% | 41.42% | 44.58% | 45.09% | 53.86% | 33.31% | 68.1% |
| Research & Development | 3.32B | 2.93B | 2.75B | 2.54B | 2.35B | 1.68B | 1.39B | 1.23B | 1.19B | 998M | 881M | 798M | 714M | 647M | 618M | 620M | 573M | 566.23M | 605.82M | 472.52M | 398.98M | 305.24M | 281.13M | 255.82M | 203.52M | 207.09M | 169.08M | 143.4M | 108.6M | 93M | 0 |
| R&D % of Revenue | - | 15.55% | 16.91% | 17.67% | 18.44% | 17.42% | 18.13% | 18.18% | 19.68% | 19.28% | 18.77% | 19.04% | 15.85% | 15.51% | 16.23% | 16.1% | 16.58% | 17.79% | 19.7% | 17.68% | 17.4% | 14.98% | 15.6% | 16.02% | 15.51% | 16.42% | 15.46% | 16.92% | 18.32% | 15.53% | - |
| Other Operating Expenses | 4M | 720M | 706M | 483M | 416M | 146M | 6M | 6M | 6M | 2M | 12M | 160M | 13M | 24M | 0 | 0 | 91M | 7.49M | -23M | 19.96M | -22.71M | 10.25M | -32.33M | -56.52M | 12.42M | 263.39M | 213.2M | 141.3M | 53.2M | 58.7M | 68.4M |
| Operating Income | 5.75B | 4.92B | 3.63B | 3.14B | 2.57B | 2.5B | 2.18B | 1.85B | 1.56B | 1.42B | 1.24B | 738M | 1.3B | 1.21B | 1.17B | 1.01B | 863M | 682.06M | 650.77M | 637.57M | 575.07M | 524.1M | 420.38M | 338.62M | 50.5M | -43.54M | 145.9M | 19.9M | 17.3M | 10.3M | -5.9M |
| Operating Margin % | 27.47% | 26.14% | 22.29% | 21.86% | 20.2% | 25.95% | 28.34% | 27.33% | 25.89% | 27.39% | 26.46% | 17.61% | 28.81% | 28.96% | 30.67% | 26.15% | 24.98% | 21.43% | 21.16% | 23.85% | 25.08% | 25.72% | 23.33% | 21.2% | 3.85% | -3.45% | 13.34% | 2.35% | 2.92% | 1.72% | -1.1% |
| Operating Income Growth % | - | 35.62% | 15.57% | 22.17% | 2.84% | 14.89% | 17.37% | 18.85% | 10.01% | 14.17% | 68.29% | -43.14% | 7.45% | 3.42% | 15.99% | 16.69% | 26.53% | 4.81% | 2.07% | 10.87% | 9.73% | 24.67% | 24.14% | 570.53% | 215.99% | -129.84% | 633.15% | 15.03% | 67.96% | 274.58% | 56.93% |
| EBITDA | 6.47B | 5.73B | 4.42B | 3.95B | 3.32B | 2.86B | 2.39B | 2.08B | 1.81B | 1.65B | 1.48B | 969M | 1.5B | 1.44B | 1.41B | 1.25B | 1.12B | 956.73M | 867.23M | 776.3M | 692.08M | 642.44M | 513.81M | 436.72M | 128.36M | 282.08M | 359.1M | 161.2M | 70.5M | 69M | 62.5M |
| EBITDA Margin % | 30.92% | 30.44% | 27.14% | 27.47% | 26.06% | 29.72% | 31.18% | 30.65% | 30.09% | 31.95% | 31.53% | 23.12% | 33.18% | 34.52% | 37.03% | 32.41% | 32.39% | 30.06% | 28.2% | 29.04% | 30.18% | 31.53% | 28.51% | 27.34% | 9.78% | 22.36% | 32.83% | 19.02% | 11.89% | 11.52% | 11.6% |
| EBITDA Growth % | 23.45% | 29.71% | 11.96% | 18.99% | 15.86% | 19.59% | 15.15% | 14.67% | 9.61% | 11.76% | 52.73% | -35.18% | 3.82% | 2.13% | 12.98% | 11.53% | 16.96% | 10.32% | 11.71% | 12.17% | 7.73% | 25.04% | 17.65% | 240.22% | -54.5% | -21.45% | 122.77% | 128.65% | 2.17% | 10.4% | 24.25% |
| D&A (Non-Cash Add-back) | 626M | 809M | 789M | 806M | 746M | 363M | 218M | 225M | 253M | 236M | 238M | 231M | 197M | 232M | 242M | 241M | 256M | 274.67M | 216.46M | 138.73M | 117.01M | 118.34M | 93.43M | 98.1M | 77.86M | 325.62M | 213.2M | 141.3M | 53.2M | 58.7M | 68.4M |
| EBIT | 6.12B | 5.08B | 3.79B | 3.24B | 2.62B | 2.58B | 2.22B | 1.9B | 1.59B | 1.42B | 1.24B | 739M | 1.33B | 1.24B | 1.19B | 1.06B | 876M | 704.62M | 750.27M | 723.5M | 575.07M | 556.06M | 442.92M | 372.4M | 212.05M | 204.9M | 145.9M | 19.9M | 17.3M | 10.3M | -5.9M |
| Net Interest Income | -89M | -72M | -95M | -142M | -17M | 28M | 25M | 31M | -1M | -23M | -39M | -19M | -27M | -30M | -41M | -50M | -52M | -30.68M | -13M | 17.91M | 31M | 17.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 272M | 175M | 147M | 106M | 64M | 57M | 39M | 46M | 19M | 8M | 0 | 8M | 4M | 0 | 9M | 10M | 9M | 20.5M | 39M | 45M | 31M | 17.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 361M | 247M | 242M | 248M | 81M | 29M | 14M | 15M | 20M | 31M | 39M | 27M | 31M | 30M | 50M | 60M | 61M | 51.18M | 52M | 27.09M | 0 | 0 | 0 | 0 | 198.29M | 302.24M | 0 | 0 | 37.2M | 11.5M | 0 |
| Other Income/Expense | 95M | -89M | -80M | -152M | -29M | 56M | 22M | 27M | 6M | -28M | -39M | -26M | 0 | -23M | -30M | -41M | -48M | -28.63M | 47.22M | 58.84M | 41.17M | 31.96M | 32.13M | 49.34M | 20.05M | -53.8M | 366.95M | 597.4M | -37.2M | -500K | 7.7M |
| Pretax Income | 5.84B | 4.83B | 3.55B | 2.99B | 2.54B | 2.56B | 2.2B | 1.88B | 1.57B | 1.39B | 1.2B | 712M | 1.3B | 1.19B | 1.14B | 966M | 815M | 653.43M | 697.99M | 696.41M | 616.25M | 556.06M | 452.9M | 387.96M | 70.55M | -97.34M | 512.85M | 617.3M | -19.9M | 9.8M | 1.8M |
| Pretax Margin % | 27.92% | 25.67% | 21.8% | 20.8% | 19.97% | 26.53% | 28.62% | 27.73% | 25.99% | 26.85% | 25.63% | 16.98% | 28.81% | 28.41% | 29.88% | 25.08% | 23.59% | 20.53% | 22.7% | 26.05% | 26.88% | 27.29% | 25.13% | 24.29% | 5.38% | -7.72% | 46.89% | 72.83% | -3.36% | 1.64% | 0.33% |
| Income Tax | 1.26B | 965M | 587M | 605M | 476M | 494M | 372M | 324M | 237M | 405M | 397M | 299M | 447M | 378M | 374M | 344M | 276M | 205.22M | 245.58M | 251.61M | 234.59M | 181.07M | 128.29M | 127.81M | 16.93M | -229K | 207.18M | 240.8M | -7.7M | 12.7M | 16.2M |
| Effective Tax Rate % | 21.55% | 19.96% | 16.54% | 20.24% | 18.73% | 19.33% | 16.92% | 17.22% | 15.13% | 29.14% | 33% | 41.99% | 34.44% | 31.9% | 32.86% | 35.61% | 33.87% | 31.41% | 35.18% | 36.13% | 38.07% | 32.56% | 28.33% | 32.94% | 24% | 0.24% | 40.4% | 39.01% | 38.69% | 129.59% | 900% |
| Net Income | 4.58B | 3.87B | 2.96B | 2.38B | 2.07B | 2.06B | 1.83B | 1.56B | 1.33B | 971M | 979M | 365M | 907M | 858M | 792M | 634M | 574M | 447.04M | 476.76M | 440M | 416.96M | 381.63M | 317.03M | 343.03M | 140.16M | -82.79M | 305.66M | 376.5M | -12.2M | 68.3M | -20.7M |
| Net Margin % | 21.91% | 20.55% | 18.19% | 16.59% | 16.23% | 21.41% | 23.78% | 22.95% | 22.06% | 18.76% | 20.86% | 8.71% | 20.13% | 20.57% | 20.8% | 16.46% | 16.61% | 14.05% | 15.5% | 16.46% | 18.18% | 18.73% | 17.59% | 21.48% | 10.68% | -6.56% | 27.94% | 44.42% | -2.06% | 11.4% | -3.84% |
| Net Income Growth % | 32.18% | 30.58% | 24.29% | 15.39% | 0.19% | 12.92% | 17.28% | 17.16% | 36.87% | -0.82% | 168.22% | -59.76% | 5.71% | 8.33% | 24.92% | 10.45% | 28.4% | -6.23% | 8.35% | 5.53% | 9.26% | 20.38% | -7.58% | 144.74% | 269.29% | -127.09% | -18.82% | 3186.07% | -117.86% | 429.95% | 54.41% |
| Net Income (Continuing) | 4.58B | 3.87B | 2.96B | 2.38B | 2.07B | 2.06B | 1.83B | 1.56B | 1.33B | 985M | 806M | 413M | 853M | 807M | 764M | 652M | 539M | 448.21M | 452.41M | 444.81M | 381.65M | 374.98M | 323.32M | 260.15M | 53.62M | -97.11M | 305.66M | 376.5M | -12.2M | -2.9M | -14.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 173M | -48M | 54M | 35M | 28M | -18M | 10M | 0 | -5.41M | -1.34M | -691K | 2.76M | -6.29M | 82.88M | 86.55M | 0 | 0 | 0 | 0 | 71.2M | -6.3M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.55M | 6.91M | 1.33M | 568K | 0 | 0 | 0 | 0 | 35K | 238K | 200K | 0 | 0 | 0 |
| EPS (Diluted) | 16.61 | 13.67 | 10.43 | 8.42 | 7.27 | 7.55 | 6.92 | 5.90 | 5.09 | 3.72 | 3.04 | 1.28 | 2.96 | 2.83 | 2.60 | 2.00 | 1.77 | 1.35 | 1.33 | 1.24 | 1.16 | 1.01 | 0.79 | 0.81 | 0.32 | -0.20 | 0.73 | 0.97 | -0.04 | 0.25 | -0.08 |
| EPS Growth % | 33.93% | 31.06% | 23.87% | 15.82% | -3.71% | 9.1% | 17.29% | 15.91% | 36.83% | 22.37% | 137.5% | -56.76% | 4.59% | 8.85% | 30% | 12.99% | 31.11% | 1.5% | 7.26% | 6.9% | 14.85% | 27.85% | -2.47% | 153.13% | 260% | -127.4% | -24.74% | 2707.53% | -114.88% | 427.23% | 59.79% |
| EPS (Basic) | - | 13.82 | 10.58 | 8.48 | 7.38 | 7.64 | 7.00 | 5.99 | 5.19 | 3.78 | 3.08 | 1.30 | 3.02 | 2.89 | 2.67 | 2.06 | 1.82 | 1.39 | 1.45 | 1.29 | 1.20 | 1.03 | 0.81 | 0.84 | 0.33 | -0.20 | 0.76 | 1.01 | -0.04 | 0.25 | -0.08 |
| Diluted Shares Outstanding | 276M | 283M | 284M | 283M | 284M | 273M | 264M | 264M | 261M | 261M | 265M | 286M | 291M | 303M | 305M | 317M | 325M | 330M | 339M | 355.81M | 360.47M | 376.8M | 400.16M | 423.5M | 438M | 413.96M | 422.54M | 399.63M | 327.78M | 278.78M | 270.89M |
| Basic Shares Outstanding | 276M | 280M | 280M | 281M | 280M | 270M | 261M | 260M | 256M | 257M | 262M | 281M | 285M | 297M | 296M | 307M | 316M | 322M | 329M | 342.64M | 347.85M | 369.2M | 390.91M | 408.37M | 424.73M | 413.96M | 401.54M | 381.85M | 314.29M | 278.78M | 270.89M |
| Dividend Payout Ratio | - | 30.73% | 34.9% | 37.29% | 37.46% | 31.33% | 30.72% | 32.18% | 30.62% | 36.35% | 32.48% | 77.53% | 24.26% | 23.66% | 22.47% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Regulatory tax filing disruption
According to the latest quarterly filings, Intuit achieved a 10.4% year-over-year revenue increase in 2026Q3, reaching $8.6 billion, which underscores the company's ability to leverage its core tax and small business segments despite the inherent volatility associated with its highly seasonal U.S.-centric financial model.
The revenue trajectory appears to be supported by the successful integration of cross-platform services, which helps smooth out the non-tax quarters. Investors should monitor whether the current growth rate can be sustained as the company faces increased competition from government-sponsored tax filing alternatives.
As reported in recent financial statements, Intuit's gross margin reached 84.4% in 2026Q3, reflecting a notable improvement from the 74.9% observed in 2025Q1, which suggests that the company is successfully scaling its digital-first ecosystem while managing the costs associated with its human-assisted service offerings.
The expansion in gross margins indicates that the company is effectively leveraging its software-as-a-service architecture to absorb higher service volumes. This trend warrants further investigation to determine if AI-driven efficiencies are permanently lowering the marginal cost of delivering expert-led tax and accounting support.
Based on the provided income statement data, Intuit demonstrated significant operating leverage in 2026Q3, with operating income reaching $4.0 billion on $8.6 billion in revenue, representing a 47% operating margin that highlights the company's ability to control overhead costs during peak seasonal demand periods.
The sharp contrast between peak and off-peak operating margins suggests that the company maintains a high fixed-cost base that is optimized for the tax season. Analysts should evaluate whether the current SG&A spending levels are sufficient to support long-term growth without compromising the profitability of the non-tax quarters.
Data from recent filings indicates that Intuit consistently records substantial stock-based compensation expenses, with $485 million reported in 2026Q3 alone, which serves as a persistent non-cash drag on net income and warrants careful adjustment when assessing the company's underlying cash-generation potential for shareholders.
The magnitude of stock-based compensation relative to net income suggests that reported EPS may not fully reflect the economic cost of talent retention. Investors should consider the impact of this dilution on long-term equity value, especially given the company's aggressive acquisition strategy and reliance on specialized engineering talent.
Quick answers to the most common questions about buying INTU stock.
For fiscal year 2025, Intuit Inc. (INTU) reported total revenue of $18.83B. This represents a 3396.3% increase compared to $538.6M in 1996.
Intuit Inc. (INTU) is profitable, generating $3.87B in net income for the fiscal year ending 2025 with a net profit margin of 20.5%.
Intuit Inc. (INTU) reported an operating income of $4.92B, resulting in an operating profit margin of 26.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Intuit Inc. (INTU) generated $15.21B in gross profit for the year, representing a gross profit margin of 80.8%. This demonstrates the company's core pricing power and production efficiency.