Stock Analysis on Net
Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Intuit Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Jul 31, 2024 Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019
Short-term debt
Accounts payable
Accrued compensation and related liabilities
Deferred revenue
Income taxes payable
Executive deferred compensation plan liabilities
Interest payable
Current portion of operating lease liabilities
Sales, property, and other taxes
Reserve for returns, credits, and promotional discounts
Accrued settlement for state attorneys general
Other
Other current liabilities
Current liabilities before funds payable and amounts due to customers
Funds payable and amounts due to customers
Current liabilities
Long-term debt
Operating lease liabilities, excluding current portion
Income tax liabilities
Dividend payable
Deferred revenue
Other
Other long-term obligations
Long-term liabilities
Total liabilities
Preferred stock, $0.01 par value; none issued and outstanding
Common stock, $0.01 par value
Additional paid-in capital
Treasury stock, at cost
Accumulated other comprehensive loss
Retained earnings
Stockholders’ equity
Total liabilities and stockholders’ equity

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).

Current Liabilities
The proportion of current liabilities relative to total liabilities and stockholders' equity shows notable fluctuations. There was a peak at 32.28% in 2020, followed by a significant decline to 13.09% in 2022. However, in 2024, current liabilities rose again to 23.31%, primarily driven by a sharp increase in the category "Funds payable and amounts due to customers," which jumped to 12.2% in 2024 from a lower base in previous years. Other current liability components generally trended downward or remained relatively stable over the period.
Short-term Debt
Short-term debt as a percentage of total liabilities and stockholders' equity showed an irregular pattern. It increased sharply from 0.8% in 2019 to 12.24% in 2020, then decreased to 1.8% in 2022 and further declined to 1.55% in 2024. This suggests variability in short-term borrowing activity across years.
Accounts Payable
Accounts payable exhibited a decreasing trend overall, starting at 4.36% in 2019 and declining to 2.24% by 2024, which indicates a gradual reduction in outstanding payables relative to the company's total financing base.
Accrued Compensation and Related Liabilities
This liability category showed a consistent downward trend from 6.13% in 2019 to a low of 2.08% in 2022, with slight increases thereafter, reaching 2.87% in 2024. This may reflect changes in payroll-related obligations or timing in compensation recognition.
Deferred Revenue
Deferred revenue decreased steadily from 9.85% in 2019 to 2.71% in 2024, indicating either a reduction in advances received or changes in revenue recognition policies over the period.
Income Taxes Payable
Income taxes payable remained negligible until 2022, when it rose sharply to 2.51% before dropping to 0.02% in 2024. This spike may correspond to tax payment timing or adjustments in tax liabilities.
Long-term Debt and Liabilities
Long-term debt showed substantial increases and decreases, rising from 6.14% in 2019 to a peak at 23.13% in 2022 before decreasing to 17.24% in 2024. Total long-term liabilities followed a similar pattern, increasing overall but showing some volatility. This suggests periods of increased long-term financing followed by partial reduction or restructuring.
Operating Lease Liabilities
Both current and non-current operating lease liabilities exhibited a declining trend from 2020 to 2024. The current portion decreased from 0.42% in 2020 to 0.22% in 2024, while the non-current portion dropped from 2.02% in 2020 to 1.43% in 2024, indicating possible lease terminations or renegotiations.
Stockholders’ Equity
Stockholders’ equity as a percentage of total liabilities and equity decreased from 59.67% in 2019 to 46.71% in 2020, then gradually increased and fluctuated around 57%-63% thereafter, ending at 57.38% in 2024. This highlights moderate changes in the equity base relative to total financing over time.
Retained Earnings
Retained earnings as part of total financing decreased significantly from 153.13% in 2019 to 48.97% in 2022, then showed a slight recovery to approximately 53% by 2024. This pronounced decline suggests substantial distributions, losses, or reclassifications during the period.
Treasury Stock
The magnitude of treasury stock as a negative percentage of total liabilities and equity reduced substantially from -184.8% in 2019 to about -58.35% in 2024, indicating a decrease in the cost of repurchased shares held by the company or changes in treasury stock accounting.
Additional Paid-in Capital
A marked decline occurred in additional paid-in capital from 91.87% in 2019 to 56.53% in 2020, followed by recovery and fluctuation around 63%-68% in the subsequent years, indicating capital market activity such as stock issuances or buybacks affecting this equity component.
Overall Liabilities and Equity Structure
Total liabilities as a proportion of total financing fluctuated between 36.39% and 53.29%, with a peak in 2020 and a notable increase again in 2024 to 42.62%. These variations, alongside changes in stockholders' equity components and liabilities, suggest evolving capital structure dynamics, possibly influenced by shifts in financing strategy, operational performance, or external conditions.