Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Intuit Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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).
- Short-term debt
- Short-term debt as a percentage of total liabilities and stockholders’ equity shows marked volatility. It was initially low around 0.81% in late 2019, spiked notably to 12.24% in mid-2020, then decreased and stabilized near 1.5-1.8% through 2022 and early 2024. This suggests episodic increased reliance on short-term borrowings around 2020, followed by a return to lower levels.
- Accounts payable
- Accounts payable fluctuated moderately, starting at 4.4% and rising to a peak of 6.79% in early 2020, then declined through late 2022 to a low of approximately 2.14%, with some rebound in 2023. Overall, the trend indicates tighter management or reduced payables in recent periods.
- Accrued compensation and related liabilities
- This liability varied within a narrow range, peaking at 4.48% in early 2020, then generally declining and stabilizing around 1.5% to 2.5% through 2023 and 2024. The fluctuations may reflect changing compensation accrual practices or payroll trends over these quarters.
- Deferred revenue
- Deferred revenue showed a declining trend from nearly 9% in late 2019 to about 2.5-3% in recent quarters. This reduction suggests a lower proportion of revenue being recognized as deferred, potentially indicative of changes in sales mix, recognition timing, or contract structures.
- Other current liabilities
- Other current liabilities exhibited volatility, moving from around 4.3% in 2019 down to roughly 2% in most recent quarters, but with intermittent spikes up to about 4%. This inconsistency suggests episodic changes in short-term obligations categorized under this heading.
- Current liabilities before funds payable and amounts due to customers
- This metric declined significantly from a peak near 30% in early 2020 to a low point under 10% by early 2023, with some variability thereafter. The reduction implies a considerable decrease in certain current liabilities aside from funds payable, possibly reflecting operational or structural changes.
- Funds payable and amounts due to customers
- Funds payable showed a downward trend from around 6.7% in late 2019 to lows near 1.3-1.5% in early 2023 before sharply increasing to nearly 19% by late 2025. This late substantial increase may signal higher customer-related liabilities or changes in handling customer funds.
- Current liabilities
- Overall current liabilities decreased from nearly 28.5% in late 2019 to around 12% by late 2022 but then increased again to about 28% by late 2025. This U-shaped pattern indicates significant shifts in short-term obligations, including the noted surge in funds payable.
- Long-term debt
- Long-term debt displayed notable fluctuations, starting near 6%, then sharply rising to over 20% in late 2020, peaking above 25% in early 2022, and gradually declining to approximately 16% in late 2025. These swings suggest episodic long-term financing events followed by gradual repayments or reclassifications.
- Operating lease liabilities, excluding current portion
- The proportion related to operating lease liabilities remained stable around 1.5-2.7%, with a slight downward drift over time, indicating steady but modest ongoing lease obligations.
- Other long-term obligations
- Other long-term obligations fluctuated narrowly, rising from about 0.4% to 4.4% during 2021 before receding to under 1% in recent periods. This indicates transient increases possibly linked to discrete long-term commitments, offset subsequently.
- Long-term liabilities
- The total long-term liabilities percentage varied widely, surging from 4% in early 2020 to nearly 30% by early 2022, then gradually decreasing to below 19% by late 2025. This pattern aligns with the observed fluctuations in long-term debt and other obligations, reflecting a dynamic debt profile.
- Total liabilities
- Total liabilities as a percentage of total financing fluctuated between approximately 35% and 53%, with peaks around mid-2020 and early 2022. The liability structure appears to have expanded and contracted over time, possibly reflecting differing financing strategies and operational needs.
- Common stock and additional paid-in capital
- Equity from common stock and paid-in capital experienced a downward trend from about 95% in late 2019 to below 59% by mid-2025, with intermittent fluctuations. This decline suggests dilution or changes in equity base relative to total financing liabilities and equity combined.
- Treasury stock, at cost
- Treasury stock exhibited consistently high negative values, moving from approximately -190% in late 2019 to around -58% by mid-2025. While negative due to accounting treatment, the rising absolute value indicates active share repurchase programs reducing outstanding shares.
- Accumulated other comprehensive loss
- This component remained minor and stable, fluctuating slightly around -0.1% to -0.6%, reflecting limited but persistent other comprehensive losses within equity.
- Retained earnings
- Retained earnings declined notably from over 154% in 2019 to near 50-54% in recent periods. This decline may reflect distribution of earnings, share repurchases, or other equity transactions impacting accumulated profits.
- Stockholders’ equity
- Stockholders’ equity as a proportion of total financing decreased from nearly 59% to low 53%, with some variability. The gradual reduction aligns with changes in equity components, indicating evolving capital structure.
- Total liabilities and stockholders’ equity
- The total sums were normalized to 100% for all periods, serving as the baseline for comparative analysis of liabilities and equity trends.