Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

$24.99

Analysis of Revenues

Microsoft Excel

Revenues as Reported

Intuit Inc., income statement, revenues

US$ in millions

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12 months ended: Jul 31, 2024 Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019
QuickBooks Online Accounting
Online Services
Online Ecosystem
QuickBooks Desktop Accounting
Desktop Services and Supplies
Desktop Ecosystem
Small Business & Self-Employed
Consumer
Credit Karma
ProTax
Net revenue

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).


QuickBooks Online Accounting
The revenue from QuickBooks Online Accounting has demonstrated consistent growth over the six-year period, starting at $980 million in 2019 and reaching $3,379 million by 2024. The increase is steady, with particularly notable acceleration beginning in 2021.
Online Services
Online Services revenues have shown considerable expansion, more than doubling from $683 million in 2019 to $3,513 million in 2024. The growth is especially pronounced between 2020 and 2023, indicating a strong upward trend in this segment.
Online Ecosystem
Combining the above categories, the Online Ecosystem has experienced robust growth, rising from $1,663 million in 2019 to $6,892 million in 2024. This reflects the increasing importance and contribution of online platforms to overall revenue.
QuickBooks Desktop Accounting
Revenues from QuickBooks Desktop Accounting have grown at a more moderate pace, increasing from $732 million in 2019 to $1,389 million in 2024. Although growth is steady, it is significantly slower compared to the online counterparts.
Desktop Services and Supplies
This category shows relatively stable revenues, fluctuating slightly around the $1,100 million mark initially, with a modest increase to $1,252 million by 2024. This suggests a mature segment with limited growth.
Desktop Ecosystem
The Desktop Ecosystem total revenue shows gradual growth, rising from $1,870 million in 2019 to $2,641 million in 2024. Growth is steady but less substantial compared to online ecosystem expansion.
Small Business & Self-Employed
This segment has exhibited strong growth, increasing from $3,533 million in 2019 to $9,533 million in 2024. The revenue doubling within five years reflects a solid and expanding customer base in this market segment.
Consumer
Consumer revenues show steady but more moderate growth, increasing from $2,775 million in 2019 to $4,445 million in 2024. The growth rate here is positive but less aggressive compared to business-related segments.
Credit Karma
Credit Karma shows a late entry into the revenue stream with no reported values until 2021. Its revenue jumped to $865 million in 2021, peaked at $1,805 million in 2022, then declined somewhat in 2023 and 2024 to around $1,700 million, indicating some volatility or possible strategic adjustments.
ProTax
ProTax revenue experiences slow but steady growth, increasing from $476 million in 2019 to $599 million in 2024. This suggests this product line maintains a stable, incremental revenue contribution.
Net Revenue
Overall net revenue has shown a strong upward trend, increasing from $6,784 million in 2019 to $16,285 million in 2024. This nearly 2.4-fold increase underscores the company's successful revenue expansion, largely driven by online services and the Small Business & Self-Employed segments.
Summary Insights
The data reveal a clear shift towards online services and ecosystems, which dominate growth and revenue expansion. Meanwhile, desktop-based revenues remain stable but grow at a slower rate. The significant increase in the Small Business & Self-Employed category suggests a targeted focus on this customer segment. Credit Karma's revenue pattern indicates initial rapid growth followed by stabilization or slight decline. Overall, the company is successfully growing its top line with a strategic emphasis on online product offerings.