Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Intuit Inc. pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Intuit Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2026-07-31), 10-K (reporting date: 2025-07-31), 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).
Total assets experienced substantial growth over the analyzed period, increasing from 15,516 million US dollars in July 2021 to 36,786 million US dollars by July 2026. The most significant expansion occurred between 2021 and 2022, where total assets nearly doubled, primarily driven by a surge in long-term assets. Following this spike, the asset base maintained a general upward trajectory, though growth slowed in the final year of the period.
- Liquidity and Current Asset Composition
- Current assets grew from 5,157 million US dollars in 2021 to 15,311 million US dollars in 2026. While cash and cash equivalents showed a steady overall increase, peaking at 4,705 million US dollars in 2026, the most notable shift occurred in funds receivable and amounts held for customers. This specific line item remained relatively flat until 2024, at which point it surged to 3,921 million US dollars and peaked at 7,076 million US dollars in 2025, significantly altering the composition of the current asset portfolio.
- Notes receivable held for investment also exhibited a consistent upward trend, rising from 132 million US dollars in 2021 to 1,468 million US dollars in 2026, indicating a growing allocation of capital toward these instruments.
- Long-term Asset Dynamics and Acquisition Impact
- A dramatic increase in long-term assets is observed between July 2021 and July 2022, rising from 10,359 million US dollars to 22,687 million US dollars. This growth was predominantly fueled by a sharp increase in goodwill, which rose from 5,613 million US dollars to 13,736 million US dollars, and acquired intangible assets, which increased from 3,252 million US dollars to 7,061 million US dollars. These patterns are characteristic of a major corporate acquisition.
- Since 2022, goodwill has remained relatively stable, hovering around 13.9 billion US dollars. In contrast, acquired intangible assets have entered a period of steady decline, falling to 4,642 million US dollars by 2026, likely reflecting systematic amortization.
- Other Asset Observations
- Long-term deferred income tax assets showed significant volatility, remaining low until a sharp spike to 1,222 million US dollars in 2025, followed by a substantial reduction to 172 million US dollars in 2026.
- Property and equipment, net, showed modest and consistent growth, increasing from 780 million US dollars in 2021 to 1,023 million US dollars in 2026, suggesting a stable investment in physical infrastructure relative to the overall growth of the balance sheet.