Intuit key statistics and ratios

In fiscal 2026, Intuit had return on equity of 23.6%, an operating margin of 27.4%, debt equal to 40.6% of equity and a current ratio of 1.51. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Intuit: financial ratios, annual
Fiscal year	2010Jul 2010	2011Jul 2011	2012Jul 2012	2013Jul 2013	2014Jul 2014	2015Jul 2015	2016Jul 2016	2017Jul 2017	2018Jul 2018	2019Jul 2019	2020Jul 2020	2021Jul 2021	2022Jul 2022	2023Jul 2023	2024Jul 2024	2025Jul 2025	2026Jul 2026
Operating margin	26.6%	31.4%	30.7%	30.6%	30.6%	17.6%	26.5%	27.3%	25.9%	27.3%	28.3%	26.0%	20.2%	21.9%	22.3%	26.1%	27.4%
Net margin	16.9%	18.4%	20.8%	21.7%	21.4%	8.7%	20.9%	19.0%	22.1%	23.0%	23.8%	21.4%	16.2%	16.6%	18.2%	20.5%	21.3%
Free-cash-flow margin	27.2%	26.1%	29.2%	31.3%	31.6%	34.5%	22.2%	28.8%	34.4%	33.1%	30.7%	33.2%	29.3%	33.7%	28.8%	32.5%	40.4%
Return on equity	20.3%	23.3%	29.6%	27.3%	27.4%	13.5%	51.2%	61.7%	58.9%	47.4%	41.2%	27.5%	15.7%	14.1%	16.6%	20.3%	23.6%
Return on assets	11.0%	12.3%	16.2%	16.9%	17.0%	7.2%	21.2%	23.7%	28.9%	27.3%	21.2%	15.6%	9.6%	8.6%	9.9%	11.2%	12.4%
Asset turnover	0.65	0.67	0.78	0.78	0.79	0.82	1.02	1.25	1.31	1.19	0.89	0.73	0.59	0.52	0.54	0.55	0.58
Current ratio	1.88	1.25	1.20	1.87	1.84	1.47	0.72	0.73	1.39	1.83	2.26	1.94	1.39	1.47	1.29	1.36	1.51
Debt to equity	35.4%	38.2%	18.2%	14.1%	16.2%	21.4%	34.3%	25.8%	13.8%	11.6%	66.0%	20.8%	42.2%	35.5%	33.0%	30.5%	40.6%
Interest cover (operating income ÷ interest)	14.8x	18.0x	23.4x	40.3x	41.9x	27.3x	35.5x	45.7x	78.0x	123.6x	155.4x	86.2x	31.7x	12.7x	15.0x	19.9x	23.0x
Effective tax rate	34.1%	34.0%	32.9%	31.9%	34.4%	42.0%	33.0%	29.1%	15.1%	17.2%	16.9%	19.3%	18.7%	20.2%	16.5%	20.0%	24.1%
R&D as % of revenue	16.6%	16.4%	16.2%	16.4%	16.8%	19.0%	18.8%	19.2%	19.7%	18.2%	18.1%	17.4%	18.4%	17.7%	16.9%	15.5%	15.7%
Capital spending as % of revenue	2.2%	3.3%	3.5%	3.3%	2.5%	3.4%	8.9%	2.0%	0.6%	1.1%	0.8%	0.6%	1.2%	1.5%	1.2%	0.4%	0.8%
Free cash flow ÷ net income	161.0%	141.8%	140.3%	144.2%	148.0%	396.4%	106.6%	152.0%	156.1%	144.4%	129.0%	155.0%	180.6%	202.9%	158.4%	158.3%	189.7%
Dividends ÷ net income	0.0%	0.0%	22.5%	23.7%	24.3%	77.5%	32.5%	35.8%	30.6%	32.2%	30.7%	31.3%	37.5%	37.3%	34.9%	30.7%	29.5%
Dividends and buybacks ÷ free cash flow	97.4%	151.3%	97.0%	40.0%	133.9%	105.6%	247.3%	79.6%	32.7%	47.0%	37.5%	51.6%	70.6%	59.1%	64.4%	64.7%	78.0%

US$ thousands unless shown otherwise. Fiscal quarters.

Intuit: financial ratios, quarterly
Quarter	2025 Q1Oct 2024	2025 Q2Jan 2025	2025 Q3Apr 2025	2025 Q4Jul 2025	2026 Q1Oct 2025	2026 Q2Jan 2026	2026 Q3Apr 2026	2026 Q4Jul 2026
Operating margin	8.3%	15.0%	48.0%	8.8%	13.7%	18.4%	47.0%	10.9%
Net margin	6.0%	11.9%	36.4%	9.9%	11.5%	14.9%	35.8%	8.3%
Free-cash-flow margin	10.0%	26.2%	56.2%	10.3%	15.4%	32.8%	61.2%	29.9%
Current ratio	1.24	1.27	1.45	1.36	1.39	1.32	1.45	1.51
Debt to equity	33.8%	34.9%	31.8%	30.3%	31.8%	32.3%	29.9%	40.4%
R&D as % of revenue	21.4%	18.1%	9.1%	20.9%	21.7%	18.0%	9.8%	19.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · July 31, 2026

What it owns · $36.8bn

Short-term assets $15.3bnLonger-term assets $21.5bn

What it owes, and who funded it · $36.8bn

Short-term liabilities $10.2bnLonger-term liabilities $7.6bnShareholders' equity $19.0bn

Short-term assets cover short-term liabilities $15.3bn of assets due within a year against $10.2bn of liabilities due within a year.
Short-term assets cover long-term liabilities $15.3bn short-term assets against $7.6bn of longer-dated liabilities.
More cash than debt $4.7bn of cash against $7.7bn of debt.
Debt below 40% of shareholders' equity Debt is 40% of equity.
Debt burden no higher than five years ago Debt to equity moved from 43% to 40% over five years.
A year's operating cash flow covers at least 20% of debt $8.8bn of operating cash flow against $7.7bn of debt.
Operating profit covers interest at least five times over Operating income of $5.9bn against $256m of interest.

From Intuit's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

69 /100

Moderate moat

How hard Intuit's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 20 / 20

Cash operating profit has been a median 15.2% of total assets over 10 years.
Pricing power 19 / 20

Gross margin has been a median 77.3%, moving by 3.3 percentage points (standard deviation) across 10 years.
Durability 18 / 20

Operating margin has been a median 26.0%; its worst year was 20.2%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 33.2% of revenue.
Discipline 7 / 20

The diluted share count rose 1.5% over five years; stock-based pay has been a median 9.6% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (84 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Intuit's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Intuit.