Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

$24.99

Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

Intuit Inc., balance sheet: debt

US$ in millions

Microsoft Excel
Jul 31, 2024 Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019
Short-term debt
Long-term debt
Total debt (carrying amount)

Based on: 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), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31).


The analysis of the annual reported debt data reveals notable fluctuations in both short-term and long-term debt components over the observed periods from July 31, 2019, to July 31, 2024.

Short-term Debt
Initially, short-term debt saw a significant increase from 50 million USD in 2019 to 1,338 million USD in 2020, indicating heightened short-term borrowing activity during this period. However, the data for 2021 is missing, complicating trend continuity analysis. The amount reported for 2022 dropped sharply to 499 million USD and remained stable at this level through 2024. This suggests a strategic reduction and subsequent stabilization of short-term obligations after the peak in 2020.
Long-term Debt
Long-term debt exhibited a generally increasing trend from 386 million USD in 2019 to a peak of 6,415 million USD in 2022. While a minor increase occurred between 2020 and 2021 (2,031 million to 2,034 million USD), the most substantial rise happened from 2021 to 2022. Following the 2022 peak, long-term debt declined moderately to approximately 6,120 million USD in 2023 and further to 5,539 million USD in 2024, suggesting efforts towards debt reduction or repayment in recent years.
Total Debt (Carrying Amount)
Total debt levels mirror the patterns observed in the components, rising sharply from 436 million USD in 2019 to 3,369 million USD in 2020, followed by an unexpected decrease to 2,034 million USD in 2021. Subsequently, total debt surged to a maximum of 6,914 million USD in 2022 before declining to 6,120 million USD and 6,038 million USD in 2023 and 2024, respectively. These variations indicate fluctuating financing needs or repayment patterns across the years, with a general peak in 2022 and a reduction trend thereafter.

Overall, the data reflects a period of increased leverage culminating in 2022, after which both short-term and long-term debt obligations have been strategically managed to reduce total debt exposure. The fluctuations, particularly the large short-term debt spike in 2020 and the peak in long-term debt in 2022, may reflect responses to specific financing requirements or external economic conditions during these years.


Total Debt (Fair Value)

Microsoft Excel
Jul 31, 2024
Selected Financial Data (US$ in millions)
Senior unsecured notes
Term loan
Secured revolving credit facility
Unsecured revolving credit facility
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2024-07-31).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2024-07-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =