Intuit Inc. (NASDAQ:INTU)

The financial data presents a comprehensive view of asset composition and trends over a six-year period. Total assets show a consistent upward trajectory, increasing from $10,931 million in 2020 to $36,958 million by 2025, indicating overall asset growth and expansion.

Cash and Cash Equivalents

This category experiences significant volatility, starting at $6,442 million in 2020, dropping sharply to $2,562 million in 2021, and fluctuating in subsequent years, ending at $2,884 million in 2025. The initial decline suggests a possible strategic use of cash resources or changes in liquidity management.

Investments

Investments display variability, rising from $608 million in 2020 to a peak of $1,668 million in 2025 after a dip in 2022 and 2024. This indicates a dynamic investment approach, with large increases in later years potentially reflecting repositioning or increasing investment activity.

Receivables

"Accounts receivable, net" increase steadily from $149 million to $530 million through the six years, signaling growth in sales or credit extension. "Notes receivable held for investment, net" show marked growth from 2021 forward, climbing from $132 million to $1,403 million, which points toward an expanding portfolio of notes receivable. A small presence of "Notes receivable held for sale" appears in 2024, indicating asset reclassification or divestiture.

Other Current Assets

"Income taxes receivable" fluctuate, peaking in 2021, then declining, suggesting tax timing differences or payment patterns. "Prepaid expenses and other current assets" demonstrate steady growth, reflecting potential increases in prepaid costs or advances.

Current Assets

The aggregation of current assets before funds receivable and amounts held for customers climbs from $7,525 million in 2020 to $7,031 million in 2025, displaying some variability but relative stability. Notably, "Funds receivable and amounts held for customers" jump substantially from $420 million in 2023 to $7,076 million in 2025, highlighting a significant rise in customer-related funds that heavily boosts total current assets, which nearly doubles from 2023 to 2025.

Long-term Assets

Long-term investments grow modestly but remain a small portion of total assets, peaking at $131 million in 2024. Property and equipment also increase steadily, albeit with minor fluctuations, from $734 million to $961 million, reflecting ongoing capital expenditure and asset maintenance.

Right-of-Use Assets

Operating lease right-of-use assets rise significantly in 2021 and 2022, then exhibit some fluctuations, ending higher than the initial figure, indicating adoption and adjustments related to lease accounting standards and leasing activity over time.

Intangible and Goodwill Assets

Goodwill shows exceptional growth, jumping from $1,654 million in 2020 to $13,980 million in 2025, which may result from major acquisitions or business combinations. Similarly, acquired intangible assets increase sharply through 2022, followed by a gradual decline by 2025, suggesting amortization, impairment, or asset disposals over the later years.

Deferred Income Tax Assets

There is a notable surge in long-term deferred income tax assets, especially after 2022, swelling from $64 million to $1,222 million by 2025. This could be indicative of deferred tax benefits related to timing differences or acquired tax assets.

Other Assets

Other long-term assets progressively increase, consistent with broad asset growth and potential diversification.

In summary, the data reflect significant expansion in total assets driven primarily by growth in intangible assets and goodwill, substantial increases in funds receivable and amounts held for customers, and increasing deferred tax assets. Liquidity resources exhibit variability, while investments and receivables expand steadily. The robust increase in goodwill and acquired intangibles points toward an acquisition-driven growth strategy, with corresponding balance sheet effects such as increased deferred taxes. Current and long-term asset trends indicate a dynamic asset management approach and evolving financial structure over the period analyzed.