Common-Size Income Statement
Quarterly Data
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Intuit Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 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).
- Revenue Composition
- The proportion of service revenue as a percentage of net revenue shows considerable fluctuation, ranging from a low near 67% to peaks exceeding 90%. Service revenue generally dominates the net revenue, maintaining a majority share throughout the periods, though there is clear volatility. Conversely, product and other revenue shares inversely vary with service revenue, showing corresponding troughs and peaks ranging roughly between 9% and 32% of net revenue.
- Cost of Revenue
- Costs associated with service revenue have varied notably, moving from approximately -13.5% to as low as nearly -24% of net revenue. Costs tied to product and other revenue remain comparatively low, consistently under -1.5%. Amortization of acquired technology fluctuates slightly but sometimes spikes close to -1.7%, indicating episodic higher expenses linked to technology acquisition amortization. Overall cost of revenue mirrors the trends seen in service revenue costs, ranging broadly from about -14% to over -26%, demonstrating a considerable impact on profitability margins.
- Gross Profit
- Gross profit margins, measured as a percentage of net revenue, show significant variability between approximately 74% and 85%. Periods of higher gross profit tend to align with those where cost of revenue is minimized, suggesting effective cost management or favorable revenue mix during those intervals. Conversely, gross profit dips are linked to elevated cost of revenue.
- Operating Expenses
- Selling and marketing expenses fluctuate widely, generally falling between about -19% and -37%. These variations imply shifting investments in market expansion or changes in marketing strategy intensity. Research and development expenses also vary, with lower bounds around -9% to highs nearing -28%, reflecting possible changes in innovation focus or project intensity. General and administrative costs remain the most stable among operating expenses, mostly staying within the range of -5% to -15%, suggesting relatively steady overhead.
- Amortization and Restructuring
- Amortization of other acquired intangible assets shows a notable increasing trend in certain periods, at times reaching up to approximately -5%, indicating ongoing intangible asset expense recognition. Restructuring costs appear sporadically, mostly minor or negligible, except for a notable charge near -7%, reflecting occasional organizational changes or cost restructuring efforts.
- Profitability Measures
- Operating income as a share of net revenue exhibits high volatility, with sharp peaks above 45% and troughs near or below zero, indicating irregular periods of profitability likely affected by variable revenues and operating expenses. Interest expense steadily increases in some periods, reaching near -2%, which could pressure net profitability. Interest and other income show mixed results, some quarters positive and others negative, adding variability.
- Income Before Taxes and Net Income
- Income before income taxes mirrors the volatility seen in operating income, with peaks close to 47% and some low or negative values, illustrating cyclical earnings performance. Income tax provisions vary widely, sometimes positive or negative, impacting net income outcomes. Net income shows a generally positive trend with significant fluctuations, aligning with operating income and income before taxes but influenced by variable tax effects, ranging roughly from below zero up to approximately 36% of net revenue.
- Overall Observations
- The financial data reveals a company experiencing substantial fluctuations in revenue composition, costs, and profitability over the analyzed intervals. Service revenue is the dominant source but is subject to swings that appear to directly affect gross profit and operating margins. Operating expenses, notably selling and marketing and research and development, vary considerably, indicating possible strategic shifts or operational adjustments. Profitability measures reflect these dynamics, with sharp swings suggesting sensitivity to cost management and revenue mix changes. Interest expenses and amortization costs also contribute intermittently to earnings variability. Periodic restructuring charges further suggest ongoing organizational adaptations.