Common-Size Balance Sheet: Assets
Quarterly Data
Intuit Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-K (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31).
- Cash and cash equivalents
- Over the examined quarters, cash and cash equivalents as a percentage of total assets exhibited notable volatility. Initially high around 22% in late 2018, levels spiked to almost 59% in mid-2020 before sharply declining to lows below 5% between late 2021 and early 2023. Recently, it has trended modestly upward, reaching nearly 15% by early 2025. This pattern indicates fluctuating liquidity positions, with a significant buildup during early 2020 likely reflecting cash preservation or accumulation strategies.
- Investments
- Investments consistently represented a smaller portion of assets, fluctuating mostly between 0.1% and 10%. There was a peak near 10% by late 2019, followed by a general decline, moving to single-digit low percentages post-2020. The recent slight increase in early 2025 to 2% contrasts with a near-zero low in early 2024, suggesting intermittent investment activity with no sustained upward or downward trajectory.
- Accounts receivable, net
- Net accounts receivable showed a generally low proportion, fluctuating mostly between 1% and 10%. Notable spikes occurred in late 2018, early 2019, and early 2020, with values around or exceeding 9-10%, but these were temporary. Subsequently, this item remained below 4% of total assets, reflecting a relatively stable and minor share of total assets over time.
- Notes receivable held for investment, net
- This category appears only from the fourth quarter of 2021 onward, steadily increasing from under 2% to above 4% by April 2025. This growth suggests an emerging focus or increasing allocation in this asset type.
- Notes receivable held for sale
- Very minor percentages were recorded after mid-2023, remaining well below 0.2% of total assets, indicating a negligible and stable share.
- Income taxes receivable
- Income taxes receivable showed low values typically under 1.5%, with some fluctuations and occasional near-zero values. This indicates a relatively minor and variable asset component with no clear upward or downward trend.
- Prepaid expenses and other current assets
- Prepaid expenses and other current assets exhibited a declining trend from highs above 5% in late 2018 to lows around 1%-2% in recent quarters, with a slight increase observed around early 2025. This downtrend points to reduced prepayments or current asset allocations in this category over time.
- Current assets before funds receivable and amounts held for customers
- This line showed a strong decrease after peaking above 68% in mid-2020, dropping precipitously to below 12% by early 2022. Afterwards, it stabilized around 15-24% through early 2025, suggesting a significant rebalancing or shift in asset composition occurred around 2020-2021.
- Funds receivable and amounts held for customers
- This component was generally under 9%, with a low near 1% to 2% from late 2020 through most of 2023 but showed a sharp increase beginning late 2023, reaching above 16% in late 2024 before slightly decreasing again. This indicates a recent expansion in funds receivable and customer holdings relative to total assets.
- Current assets
- Current assets as a whole mirrored trends seen in the subcomponents, with a peak nearing 73% in mid-2020, followed by a substantial drop to roughly 13% in early 2022. Since then, it has gradually increased toward nearly 38% by early 2025, reflecting stages of liquidity contraction and renewal.
- Long-term investments
- The portion of long-term investments remained relatively minor and stable, generally fluctuating between 0.2% and 0.5% of total assets, indicating no significant change in strategic long-term investment holdings.
- Property and equipment, net
- Property and equipment steadily declined as a percentage of total assets, from over 16% in late 2018 to around 2.7% by early 2025. This trend signals a reduction in fixed asset intensity possibly due to asset disposals, depreciation, or shifts to less capital-intensive operations.
- Operating lease right-of-use assets
- Data beginning mid-2019 reveals a downward trend in operating lease right-of-use assets from nearly 5% initially to roughly 1.5% in early 2025. This suggests a gradual decrease in leased asset commitments or shorter-term leases.
- Goodwill
- Goodwill showed considerable volatility. After declining from about 33% in late 2018 to a low near 15% in mid-2020, it surged dramatically to over 52% by early 2022. Following this spike, it gradually declined to approximately 38% by early 2025. This pattern denotes periods of substantial acquisitions or impairments impacting intangible asset valuation.
- Acquired intangible assets, net
- Starting with low percentages under 1%, acquired intangible assets jumped sharply to over 20% by early 2021, peaked near 28% in early 2022, and gradually decreased to about 15% by early 2025. This trajectory parallels goodwill movements, reflecting acquisition accounting effects and subsequent amortization or impairment.
- Long-term deferred income tax assets
- These assets were initially unreported, then showed a rising trend from near zero in 2020 to about 2.9% by early 2025. This steady increase might indicate growing future tax benefit recognition associated with deferred items.
- Other assets
- Other assets maintained a relatively stable small share, generally between 1% and 4%, with minor fluctuations. No clear increasing or decreasing trend is observed.
- Long-term assets
- Long-term assets as a percentage of total assets decreased from nearly 55% in late 2018 to about 27% in mid-2020 but then sharply increased to above 86% by early 2022. After peaking, it gradually declined to near 62% by early 2025. This pattern signifies substantial shifts in asset structure, likely linked to acquisition activity and reclassification between current and long-term assets.
- Total assets
- Naturally, total assets represent 100% at all measured points, serving as the base for relative ratios.