Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Intuit Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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
- Current liabilities exhibited an overall increasing trend from 2019 to 2024. Notably, short-term debt showed a sharp rise in 2020, reaching 1,338 million USD, then fluctuated in subsequent years, stabilizing around 499 million USD in 2022 and 2024. Accounts payable consistently increased, peaking at 737 million USD in 2022 before slightly declining and rising again to 721 million USD in 2024. Accrued compensation and related liabilities rose steadily from 385 million USD in 2019 to 921 million USD in 2024, indicating growing personnel costs. Deferred revenue increased gradually until 2023, then showed a slight decline in 2024. Other current liabilities showed an overall upward trend, albeit with some fluctuations, rising from 202 million USD in 2019 to 549 million USD in 2024. The line item 'Funds payable and amounts due to customers' experienced a notable surge in 2024, reaching 3,921 million USD, which heavily influenced the total current liabilities increase to 7,491 million USD in 2024.
- Long-term Liabilities
- Long-term debt surged significantly from 386 million USD in 2019 to a peak of 6,415 million USD in 2022, followed by a modest decline to 5,539 million USD in 2024. Operating lease liabilities excluding current portion increased sharply from 221 million USD in 2020 to 542 million USD in 2022, then decreased in the subsequent years. Other long-term obligations had considerable volatility with values peaking at 706 million USD in 2022 before falling to 208 million USD in 2024. Overall, long-term liabilities rose dramatically from 568 million USD in 2019 to 6,205 million USD in 2024, signifying substantial increases in debt and other obligations over the period.
- Total Liabilities
- Total liabilities followed an upward trajectory, growing from 2,534 million USD in 2019 to 13,696 million USD in 2024. The peak in 2022 at 11,293 million USD was surpassed in 2024, driven primarily by increases in current liabilities, especially "Funds payable and amounts due to customers," and sustained high levels of long-term debt. This indicates an increasing reliance on both short-term and long-term financing.
- Equity
- Stockholders’ equity increased steadily from 3,749 million USD in 2019 to 18,436 million USD in 2024. Retained earnings showed a consistent upward trend, rising from 9,621 million USD in 2019 to 16,989 million USD in 2024, reflecting ongoing profitability and accumulation of earnings. Additional paid-in capital expanded significantly, especially from 2020 onward, indicating capital injections or equity issuances. Treasury stock, recorded as a negative value, steadily increased in absolute terms from -11,611 million USD to -18,750 million USD, suggesting substantial repurchases or retirements of shares. Accumulated other comprehensive loss remained relatively minor and stable in comparison.
- Balance Sheet Growth
- Total liabilities and stockholders' equity expanded substantially from 6,283 million USD in 2019 to 32,132 million USD in 2024, reflecting significant growth in the company’s overall financial size. This growth results from expanded liabilities alongside increased equity, signaling both debt-financed and equity-financed growth strategies.
- Key Observations
- The data reveals a sizable increase in total liabilities, especially driven by an exceptional jump in “Funds payable and amounts due to customers” in 2024, and a pronounced rise in long-term debt between 2019 and 2022 with some reduction thereafter. Concurrently, equity components such as retained earnings and additional paid-in capital have shown robust growth, which mitigates financial risk by supporting the balance sheet strength. The steady increase in accrued compensation and other current liabilities points toward growing operational scale and costs. The expanding treasury stock balance suggests active share repurchase programs. Overall, the financial trends indicate significant expansion financed through both debt and equity, with careful management of liabilities and enhancement of equity base.