Debt to Equity
since 2005
Calculation
Intuit Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Jul 31, 2025 | 0.30 | = | 5,973) | ÷ | 19,710) |
| Jul 31, 2024 | 0.33 | = | 6,038) | ÷ | 18,436) |
| Jul 31, 2023 | 0.35 | = | 6,120) | ÷ | 17,269) |
| Jul 31, 2022 | 0.42 | = | 6,914) | ÷ | 16,441) |
| Jul 31, 2021 | 0.21 | = | 2,034) | ÷ | 9,869) |
| Jul 31, 2020 | 0.66 | = | 3,369) | ÷ | 5,106) |
| Jul 31, 2019 | 0.12 | = | 436) | ÷ | 3,749) |
| Jul 31, 2018 | 0.19 | = | 438) | ÷ | 2,354) |
| Jul 31, 2017 | 0.36 | = | 488) | ÷ | 1,354) |
| Jul 31, 2016 | 0.86 | = | 1,000) | ÷ | 1,161) |
| Jul 31, 2015 | 0.21 | = | 500) | ÷ | 2,332) |
| Jul 31, 2014 | 0.16 | = | 499) | ÷ | 3,078) |
| Jul 31, 2013 | 0.14 | = | 499) | ÷ | 3,531) |
| Jul 31, 2012 | 0.18 | = | 499) | ÷ | 2,744) |
| Jul 31, 2011 | 0.38 | = | 999) | ÷ | 2,616) |
| Jul 31, 2010 | 0.35 | = | 998) | ÷ | 2,821) |
| Jul 31, 2009 | 0.39 | = | 998) | ÷ | 2,556) |
| Jul 31, 2008 | 0.48 | = | 998) | ÷ | 2,073) |
| Jul 31, 2007 | 0.49 | = | 998) | ÷ | 2,035) |
| Jul 31, 2006 | 0.00 | = | —) | ÷ | 1,738) |
| Jul 31, 2005 | 0.00 | = | —) | ÷ | 1,695) |
Based on: 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), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31), 10-K (reporting date: 2011-07-31), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-31), 10-K (reporting date: 2008-07-31), 10-K (reporting date: 2007-07-31), 10-K (reporting date: 2006-07-31), 10-K (reporting date: 2005-07-31).
1 US$ in millions
The financial data reveals several notable trends regarding the company's debt and equity structure over the analyzed periods. Total debt, measured in US$ millions, was not reported until 2008, showing a stable figure close to 998-999 million USD from 2008 to 2012. Subsequently, it declined noticeably to 499-500 million USD during 2013 to 2015, indicating a reduction in liabilities or repayment initiatives. However, a significant spike occurred in 2021, with total debt sharply increasing to 3,369 million USD, followed by fluctuations but remaining substantially higher than earlier years, reaching over 6,000 million USD by 2024 and slightly decreasing to approximately 5,973 million USD in 2025.
In contrast, stockholders' equity exhibited a general upward trend throughout the period under review. Starting from about 1,695 million USD in 2005, equity increased steadily, with minor fluctuations, to approximately 3,531 million USD in 2013. After a dip to 1,161 million USD in 2015, it rebounded and accelerated growth, hitting almost 19,710 million USD by 2025. This growth reflects a strengthening capital base and possibly retained earnings accumulation or equity infusions over time.
The debt-to-equity ratio, a key indicator of financial leverage, shows a variable but overall moderate use of debt relative to equity. From the emergence of reported data in 2008, the ratio was below 0.5, suggesting conservative leverage. A peak ratio near 0.86 in 2016 indicates heightened leverage at that time, coinciding with earlier observed debt and equity levels. Thereafter, the ratio declines and fluctuates, staying mostly below 0.5, except for a notable increase to 0.66 in 2021 that corresponds with the substantial rise in total debt. The overall pattern implies that the company maintains a balanced approach to financing, leveraging debt usage according to strategic needs and market conditions.
In summary, the data highlights a company that has increased its equity base substantially while managing its debt levels variably, with a significant debt increase in recent years. The leverage ratios underscore a cautious but flexible capital structure management approach throughout the years.
- Total debt
- Stable around 998-999 million USD between 2008-2012, dropped to ~500 million USD during 2013-2015, followed by a sharp increase starting in 2021, peaking above 6,000 million USD in 2024.
- Stockholders’ equity
- Gradual increase from 1,695 million USD in 2005 to approximately 3,531 million USD in 2013, a dip in 2015, then a strong growth trend reaching nearly 19,710 million USD by 2025.
- Debt to equity ratio
- Consistently below 0.5 until 2016, peaking at 0.86 that year, followed by fluctuations, spiking again to 0.66 in 2021, reflecting changes in debt load relative to equity.
Comparison to Competitors
Intuit Inc., debt to equity, long-term trends, comparison to competitors
| Intuit Inc. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 31, 2025 | 0.30 | 0.17 | — | — | 0.23 | — | — | 0.26 | 4.53 | — | 0.00 | 0.15 | — | — | 0.33 |
| Jul 31, 2024 | 0.33 | 0.04 | 0.40 | 0.53 | 0.32 | 0.59 | 2.01 | 0.29 | 9.98 | 0.00 | 0.19 | 0.17 | 0.15 | 0.00 | 0.37 |
| Jul 31, 2023 | 0.35 | 0.01 | 0.22 | 0.19 | 0.51 | 0.37 | 2.51 | 0.31 | 84.33 | 0.00 | 1.14 | 0.20 | 0.20 | 0.00 | 0.53 |
| Jul 31, 2022 | 0.42 | 0.00 | 0.29 | 0.27 | 0.72 | 0.52 | 2.32 | 0.39 | — | 0.00 | 17.51 | 0.19 | 0.30 | 0.00 | 0.41 |
| Jul 31, 2021 | 0.21 | 0.00 | 0.28 | 0.13 | 0.85 | 0.71 | 2.74 | 0.50 | 16.08 | 0.00 | 5.08 | 0.07 | 0.43 | 0.02 | 0.55 |
| Jul 31, 2020 | 0.66 | 0.00 | 0.31 | 0.14 | 0.00 | 0.60 | 2.99 | 0.62 | 5.93 | 0.13 | 2.80 | 0.09 | 0.58 | 0.03 | 0.51 |
| Jul 31, 2019 | 0.12 | 0.00 | 0.39 | 0.16 | — | 0.00 | 3.02 | 0.77 | 2.58 | — | 0.90 | 0.22 | 0.33 | 0.03 | 0.62 |
| Jul 31, 2018 | 0.19 | 0.00 | 0.44 | 0.35 | — | — | 2.73 | 0.97 | 1.33 | — | 1.99 | 0.21 | 0.60 | 0.13 | 0.94 |
| Jul 31, 2017 | 0.36 | 0.00 | 0.22 | 0.74 | — | — | 2.66 | 1.23 | 1.08 | — | 0.69 | 0.32 | 2.01 | 0.04 | 0.46 |
| Jul 31, 2016 | 0.86 | 0.00 | 0.26 | 0.93 | — | — | 2.31 | 0.76 | 0.93 | — | 0.64 | 0.36 | 1.31 | 0.06 | 0.45 |
| Jul 31, 2015 | 0.21 | 0.00 | 0.27 | 0.25 | — | — | 2.80 | 0.44 | 0.86 | — | 1.00 | 0.49 | 0.84 | 0.07 | 0.44 |
| Jul 31, 2014 | 0.16 | 0.00 | 0.22 | 0.52 | — | — | 3.44 | 0.25 | 0.52 | — | 1.00 | 0.79 | 1.04 | 0.02 | 0.41 |
| Jul 31, 2013 | 0.14 | 0.01 | 0.23 | 0.28 | — | — | 1.74 | 0.20 | 0.41 | — | 0.00 | 0.25 | 1.05 | 0.04 | 0.04 |
| Jul 31, 2012 | 0.18 | 0.00 | 0.23 | 0.49 | — | — | 1.76 | 0.18 | 0.38 | — | 0.00 | 0.35 | 0.00 | 0.05 | — |
| Jul 31, 2011 | 0.38 | 0.00 | 0.26 | 1.04 | — | — | 1.56 | 0.21 | 0.40 | — | — | 0.38 | — | 0.00 | — |
| Jul 31, 2010 | 0.35 | 0.00 | 0.29 | 1.99 | — | — | 1.24 | 0.13 | 0.48 | — | — | 0.45 | — | 0.00 | — |
| Jul 31, 2009 | 0.39 | 0.00 | 0.20 | 4.02 | — | — | 1.15 | 0.15 | 0.41 | — | — | 0.01 | — | 0.00 | — |
| Jul 31, 2008 | 0.48 | 0.00 | 0.08 | 4.91 | — | — | 2.52 | 0.00 | 0.49 | — | — | 0.00 | — | 0.00 | — |
| Jul 31, 2007 | 0.49 | 0.01 | 0.00 | 0.35 | — | — | 1.24 | 0.00 | 0.45 | — | — | 0.00 | — | 0.00 | — |
| Jul 31, 2006 | 0.00 | 0.03 | 0.00 | 0.45 | — | — | 0.80 | 0.00 | 0.39 | — | — | 0.00 | — | 0.00 | — |
| Jul 31, 2005 | 0.00 | 0.04 | 0.00 | 0.31 | — | — | 0.68 | 0.00 | 0.26 | — | — | 0.01 | — | 0.00 | — |
Based on: 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), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31), 10-K (reporting date: 2011-07-31), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-31), 10-K (reporting date: 2008-07-31), 10-K (reporting date: 2007-07-31), 10-K (reporting date: 2006-07-31), 10-K (reporting date: 2005-07-31).
Comparison to Sector (Software & Services)
Intuit Inc., debt to equity, long-term trends, comparison to sector (software & services)
| Intuit Inc. | Software & Services | |
|---|---|---|
| Jul 31, 2025 | 0.30 | — |
| Jul 31, 2024 | 0.33 | 0.54 |
| Jul 31, 2023 | 0.35 | 0.64 |
| Jul 31, 2022 | 0.42 | 0.71 |
| Jul 31, 2021 | 0.21 | 0.83 |
| Jul 31, 2020 | 0.66 | 0.94 |
| Jul 31, 2019 | 0.12 | 1.04 |
| Jul 31, 2018 | 0.19 | 1.07 |
| Jul 31, 2017 | 0.36 | 1.14 |
| Jul 31, 2016 | 0.86 | 0.90 |
| Jul 31, 2015 | 0.21 | 0.73 |
| Jul 31, 2014 | 0.16 | 0.54 |
| Jul 31, 2013 | 0.14 | 0.46 |
| Jul 31, 2012 | 0.18 | 0.44 |
| Jul 31, 2011 | 0.38 | 0.47 |
| Jul 31, 2010 | 0.35 | 0.46 |
| Jul 31, 2009 | 0.39 | 0.44 |
| Jul 31, 2008 | 0.48 | 0.56 |
| Jul 31, 2007 | 0.49 | 0.50 |
| Jul 31, 2006 | 0.00 | 0.31 |
| Jul 31, 2005 | 0.00 | 0.26 |
Based on: 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), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31), 10-K (reporting date: 2011-07-31), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-31), 10-K (reporting date: 2008-07-31), 10-K (reporting date: 2007-07-31), 10-K (reporting date: 2006-07-31), 10-K (reporting date: 2005-07-31).
Comparison to Industry (Information Technology)
Intuit Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Intuit Inc. | Information Technology | |
|---|---|---|
| Jul 31, 2025 | 0.30 | — |
| Jul 31, 2024 | 0.33 | 0.61 |
| Jul 31, 2023 | 0.35 | 0.66 |
| Jul 31, 2022 | 0.42 | 0.70 |
| Jul 31, 2021 | 0.21 | 0.83 |
| Jul 31, 2020 | 0.66 | 0.97 |
| Jul 31, 2019 | 0.12 | 0.98 |
| Jul 31, 2018 | 0.19 | 0.83 |
| Jul 31, 2017 | 0.36 | 0.81 |
| Jul 31, 2016 | 0.86 | 0.66 |
| Jul 31, 2015 | 0.21 | 0.56 |
| Jul 31, 2014 | 0.16 | 0.39 |
| Jul 31, 2013 | 0.14 | 0.29 |
| Jul 31, 2012 | 0.18 | 0.25 |
| Jul 31, 2011 | 0.38 | 0.27 |
| Jul 31, 2010 | 0.35 | 0.25 |
| Jul 31, 2009 | 0.39 | 0.26 |
| Jul 31, 2008 | 0.48 | 0.28 |
| Jul 31, 2007 | 0.49 | 0.26 |
| Jul 31, 2006 | 0.00 | 0.19 |
| Jul 31, 2005 | 0.00 | 0.15 |
Based on: 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), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31), 10-K (reporting date: 2017-07-31), 10-K (reporting date: 2016-07-31), 10-K (reporting date: 2015-07-31), 10-K (reporting date: 2014-07-31), 10-K (reporting date: 2013-07-31), 10-K (reporting date: 2012-07-31), 10-K (reporting date: 2011-07-31), 10-K (reporting date: 2010-07-31), 10-K (reporting date: 2009-07-31), 10-K (reporting date: 2008-07-31), 10-K (reporting date: 2007-07-31), 10-K (reporting date: 2006-07-31), 10-K (reporting date: 2005-07-31).