"With the introduction of GenAI, we are now delivering reimagined customer experiences..." - Sasan Goodarzi, CEO
— Sasan Goodarzi
03Detailed Report
INTU
Intuit Inc
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 5, 2026
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Executive Summary
In Q4 2024, Intuit Inc reported a revenue of $3.2 billion, achieving a remarkable year-over-year growth of 17%, largely driven by significant increases in their Small Business and Self-Employed segments, which alone grew 20%. Despite facing a GAAP operating loss of $151 million due to a restructuring charge related to organizational changes, non-GAAP operating income rose to $730 million, reflecting strong underlying operational performance. Management emphasized their confidence in achieving double-digit growth in fiscal year 2025, bolstered by investments in their AI-driven service offerings and expanding customer engagement within their ecosystem. As Intuit transitions towards integrating AI across its platforms, they anticipate enhanced customer experiences and services leading to sustained growth.
Key Performance Indicators
Revenue
Increasing
3.18B
QoQ: -52.74% | YoY: 17.40%
Gross Profit
Increasing
2.40B
75.41% margin
QoQ: -56.74% | YoY: 20.11%
Operating Income
Decreasing
-151.00M
QoQ: -104.86% | YoY: -988.24%
Net Income
Decreasing
-20.00M
QoQ: -100.84% | YoY: -122.47%
EPS
Decreasing
-0.07
QoQ: -100.84% | YoY: -122.31%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue Analysis: Total revenue for Q4 2024 was $3.2 billion, up 17% YoY.
- GAAP Operating Loss: $151 million, reflecting a restructuring charge.
- Non-GAAP Operating Income: Increased to $730 million, up 16% YoY.
- Net Income: Loss of $20 million, down from an income of $89 million in the same quarter last year.
Profitability Ratios: Gross profit margin improved to 75.4%, but operating margin saw a decline to -4.7%. Management stressed that the growth from AI integrations in TurboTax Live and QuickBooks Live would drive margin expansion moving forward.
Balance Sheet Overview: The cash and cash equivalents stood at $3.609 billion, with total assets at $32.132 billion, providing a solid liquidity base for ongoing investments. Total debt was recorded at $6.567 billion, demonstrating a debt-to-equity ratio of approximately 0.36, which remains manageable in the tech sector.
Cash Flow: Free cash flow for Q4 was $375 million, underlining operational efficiency even amidst restructuring efforts, indicating healthy cash generation capabilities.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
3.18B
17.40%
-52.74%
Gross Profit
2.40B
20.11%
-56.74%
Operating Income
-151.00M
-988.24%
-104.86%
Net Income
-20.00M
-122.47%
-100.84%
EPS
-0.07
-122.31%
-100.84%
Key Financial Ratios
Gross Profit Margin
Excellent
75.40%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Weak
-0.05%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.01%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.00%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
0.00%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.29
Current ratio meets minimum requirements but limited cushion
Debt to Equity
Moderate
0.36
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Negative
-2,265.73x
Negative earnings make P/E ratio not meaningful
Price to Book
High Premium
9.83x
Very high premium suggests asset-light business model or lofty expectations
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