Analysis of Debt
Total Debt (Carrying Amount)
Intuit Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2026-07-31), 10-K (reporting date: 2025-07-31), 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31).
The total debt carrying amount demonstrates a pattern of significant expansion, followed by a period of relative stabilization and a subsequent projected increase. Total debt rose sharply from US$ 2,034 million in July 2021 to US$ 6,914 million in July 2022, representing a substantial increase in leverage. Following this peak, the total debt entered a gradual decline, reaching US$ 5,973 million by July 2025, before climbing to its highest observed level of US$ 7,669 million in July 2026.
- Long-term Debt Trends
- Long-term debt serves as the primary component of the overall debt profile. After a surge from US$ 2,034 million in 2021 to US$ 6,415 million in 2022, the balance experienced a slow contraction over the following three years, reaching a low of US$ 5,539 million in 2024. A reversal of this trend is observed starting in 2025, with the amount increasing to US$ 6,420 million by 2026.
- Short-term Debt Volatility
- Short-term debt exhibits an intermittent pattern, with reported values of US$ 499 million in both 2022 and 2024. A significant escalation is noted in July 2026, where short-term obligations rose to US$ 1,249 million, contributing notably to the overall increase in total debt for that period.
- Debt Composition and Carrying Amount
- The debt structure remains heavily weighted toward long-term obligations. While the period between 2023 and 2025 showed a consistent, albeit slight, reduction in the total carrying amount, the sharp increase in 2026 indicates a renewed shift toward higher borrowing levels across both short-term and long-term instruments.
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Total Debt (Fair Value)
| Jul 31, 2026 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Senior unsecured notes | 6,750) |
| Term loan | —) |
| Secured revolving credit facility | 970) |
| Total debt (fair value) | 7,720) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.01 |
Based on: 10-K (reporting date: 2026-07-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt: 4.85%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 5.33% | 750) | 40) | |
| 1.49% | 500) | 7) | |
| 5.26% | 750) | 39) | |
| 1.77% | 500) | 9) | |
| 5.08% | 750) | 38) | |
| 5.31% | 1,250) | 66) | |
| 5.62% | 1,000) | 56) | |
| 5.58% | 1,250) | 70) | |
| 5.01% | 350) | 18) | |
| 4.76% | 400) | 19) | |
| 5.19% | 220) | 11) | |
| Total | 7,720) | 374) | |
| 4.85% | |||
Based on: 10-K (reporting date: 2026-07-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 374 ÷ 7,720 = 4.85%