Common-Size Balance Sheet: Assets
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Intuit Inc., common-size consolidated balance sheet: assets
Based on: 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), 10-K (reporting date: 2020-07-31).
- Cash and Cash Equivalents
- There is a pronounced decline in cash and cash equivalents as a percentage of total assets, dropping from 58.93% in 2020 to 7.8% in 2025, indicating a significant reduction in liquid asset holdings over the five-year period.
- Investments
- Investments as a portion of total assets show volatility, initially increasing from 5.56% in 2020 to 8.43% in 2021, then declining sharply to 1.45% in 2024 before increasing slightly to 4.51% in 2025.
- Receivables
- Accounts receivable remain relatively stable, fluctuating slightly around 1.3% to 2.5%. Notes receivable held for investment display a steady upward trend, rising from 0.85% in 2021 to 3.8% in 2025. The minor presence of notes receivable held for sale appears only in 2024 at 0.01%, indicating a negligible level.
- Income Taxes Receivable
- Income taxes receivable show variability with a peak at 0.79% in 2021, followed by lower percentages, falling to 0.14% in 2025, suggesting fluctuating recoverable tax positions.
- Prepaid Expenses and Other Current Assets
- This category declines from 2.87% in 2020 to 1.03% in 2022 but then experiences a modest recovery, settling at 1.34% by 2025.
- Current Assets
- Current assets before funds receivable decrease sharply from 68.84% in 2020 to around 17-19% range in subsequent years. However, the addition of funds receivable and amounts held for customers leads to a rebound in total current assets, growing notably from 20% in 2023 to 38.17% in 2025, driven particularly by a rise in customer funds from 1.51% to 19.15% over the same period.
- Long-Term Investments
- Long-term investments remain relatively low and stable, peaking slightly at 0.41% in 2024 before declining to 0.25% in 2025.
- Property and Equipment, Net
- The proportion of property and equipment steadily declines from 6.71% in 2020 to 2.6% in 2025, indicating potential asset disposals or depreciation outweighing acquisitions.
- Operating Lease Right-of-Use Assets
- These assets display a gradual reduction from 2.07% in 2020 to 1.28% in 2024, with a slight increase to 1.46% in 2025, suggesting adjustments in lease asset recognition or lease portfolio changes.
- Goodwill and Acquired Intangible Assets
- Goodwill sees a substantial increase from 15.13% in 2020, peaking at approximately 49.6% in 2023, then declining to 37.83% by 2025. Similarly, acquired intangible assets grow considerably from 0.26% in 2020 to a peak of 25.46% in 2022, later decreasing to 14.35% by 2025. These trends suggest significant acquisition activity until 2023, followed by impairments, amortization, or revaluation reducing their relative size.
- Long-Term Deferred Income Tax Assets
- There is an upward trend starting at 0.05% in 2021 and reaching 3.31% in 2025, reflecting increased deferred tax asset recognition in the long term.
- Other Assets
- Other assets remain stable with minor fluctuations, generally hovering between 1.2% and 2.1% of total assets.
- Long-Term Assets
- The share of long-term assets increases dramatically from 27% in 2020 to a high of 81.8% in 2022, before declining to 61.83% in 2025. This variation is primarily influenced by changes in goodwill, intangible assets, and deferred tax assets, indicating shifts in capitalization and investment strategies over the period.
- Total Assets
- By definition, total assets remain constant at 100% each year, serving as the basis for the percentage comparisons.