Price to Sales (P/S)
since 2005
Calculation
Intuit Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net revenue1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 9, 2026 | 3.91 | = | 313.94 | ÷ | 80.26 | 80.26 | = | 21,448 | ÷ | 267,236,000 | |
| Sep 3, 2025 | 9.90 | = | 668.68 | ÷ | 67.54 | 67.54 | = | 18,831 | ÷ | 278,805,000 | |
| Sep 4, 2024 | 10.72 | = | 623.10 | ÷ | 58.10 | 58.10 | = | 16,285 | ÷ | 280,292,000 | |
| Sep 1, 2023 | 10.72 | = | 549.60 | ÷ | 51.27 | 51.27 | = | 14,368 | ÷ | 280,259,493 | |
| Sep 2, 2022 | 9.30 | = | 420.06 | ÷ | 45.15 | 45.15 | = | 12,726 | ÷ | 281,869,879 | |
| Sep 8, 2021 | 16.09 | = | 567.59 | ÷ | 35.27 | 35.27 | = | 9,633 | ÷ | 273,091,929 | |
| Aug 31, 2020 | 11.78 | = | 345.39 | ÷ | 29.33 | 29.33 | = | 7,679 | ÷ | 261,807,204 | |
| Aug 30, 2019 | 11.05 | = | 288.36 | ÷ | 26.08 | 26.08 | = | 6,784 | ÷ | 260,073,642 | |
| Aug 31, 2018 | 9.52 | = | 219.47 | ÷ | 23.06 | 23.06 | = | 5,964 | ÷ | 258,671,620 | |
| Sep 1, 2017 | 6.99 | = | 141.90 | ÷ | 20.30 | 20.30 | = | 5,177 | ÷ | 254,973,504 | |
| Sep 1, 2016 | 6.17 | = | 112.34 | ÷ | 18.20 | 18.20 | = | 4,694 | ÷ | 257,938,052 | |
| Sep 1, 2015 | 5.56 | = | 84.10 | ÷ | 15.12 | 15.12 | = | 4,192 | ÷ | 277,306,606 | |
| Sep 12, 2014 | 5.32 | = | 83.99 | ÷ | 15.78 | 15.78 | = | 4,506 | ÷ | 285,540,169 | |
| Sep 13, 2013 | 4.47 | = | 65.95 | ÷ | 14.75 | 14.75 | = | 4,171 | ÷ | 282,712,839 | |
| Sep 13, 2012 | 4.27 | = | 59.97 | ÷ | 14.05 | 14.05 | = | 4,151 | ÷ | 295,371,402 | |
| Sep 14, 2011 | 3.71 | = | 47.49 | ÷ | 12.80 | 12.80 | = | 3,851 | ÷ | 300,814,069 | |
| Sep 16, 2010 | 4.12 | = | 44.87 | ÷ | 10.88 | 10.88 | = | 3,455 | ÷ | 317,535,557 | |
| Sep 15, 2009 | 2.81 | = | 27.78 | ÷ | 9.89 | 9.89 | = | 3,183 | ÷ | 321,936,540 | |
| Sep 12, 2008 | 3.21 | = | 30.44 | ÷ | 9.48 | 9.48 | = | 3,071 | ÷ | 323,962,762 | |
| Sep 14, 2007 | 3.61 | = | 28.46 | ÷ | 7.89 | 7.89 | = | 2,673 | ÷ | 338,899,364 | |
| Sep 15, 2006 | 4.87 | = | 33.03 | ÷ | 6.78 | 6.78 | = | 2,342 | ÷ | 345,230,960 | |
| Sep 26, 2005 | 3.94 | = | 22.44 | ÷ | 5.70 | 5.70 | = | 2,038 | ÷ | 357,485,282 |
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), 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Intuit Inc. Annual Report.
The Price to Sales (P/S) ratio exhibits three distinct phases over the analyzed period: a phase of relative stability and slight contraction, a period of aggressive valuation expansion, and a subsequent sharp correction.
- Initial Stability and Contraction (2005–2009)
- During the early period, the P/S ratio remained within a narrow range, beginning at 3.94 and reaching a low of 2.81 in 2009. This period was characterized by modest share price fluctuations relative to a steady increase in sales per share.
- Valuation Expansion (2010–2021)
- A sustained upward trend in the P/S ratio is observed starting in 2010. The ratio climbed from 4.12 to a peak of 16.09 in 2021. This expansion indicates that the market was willing to pay significantly more for each dollar of sales, likely reflecting increased investor confidence, higher growth expectations, or a shift in the company's perceived value proposition.
- Correction and Recent Decline (2022–2026)
- Following the 2021 peak, the P/S ratio underwent a significant reversal. A sharp drop to 9.30 occurred in 2022, followed by a period of relative stabilization around 10.72 through 2024. However, a precipitous decline is noted in the final two years, with the ratio falling to 3.91 by 2026. This final contraction is driven by a substantial decrease in share price despite continued growth in sales per share.
Overall, while sales per share grew consistently from 5.70 in 2005 to 80.26 in 2026, the market valuation as measured by the P/S ratio proved highly volatile. The return to a ratio of 3.91 in 2026 effectively resets the valuation multiple to levels not seen since the 2005–2010 period.
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Comparison to Competitors
Intuit Inc., P/S, long-term trends, comparison to competitors
| Intuit Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 9, 2026 | 3.91 | — | — | — | — | — | — | 8.74 | 7.49 | — | 24.12 | 4.29 | — | — | 4.06 |
| Sep 3, 2025 | 9.90 | 2.15 | 5.25 | 25.35 | 15.27 | 12.53 | 3.19 | 13.54 | 10.32 | 71.09 | 13.82 | 7.40 | 9.20 | 13.05 | 7.65 |
| Sep 4, 2024 | 10.72 | 3.48 | 8.27 | 23.14 | 15.26 | 16.12 | 3.81 | 12.82 | 7.44 | 102.00 | 13.62 | 8.45 | 18.99 | 12.45 | 9.61 |
| Sep 1, 2023 | 10.72 | 2.98 | 13.88 | 6.14 | 20.02 | 20.19 | 2.73 | 11.60 | 6.63 | 23.27 | 10.87 | 5.84 | 17.52 | 14.75 | 7.71 |
| Sep 2, 2022 | 9.30 | 2.56 | 8.95 | 1.80 | 14.23 | 14.64 | 1.94 | 10.40 | 4.25 | 9.34 | 9.62 | 7.40 | 12.75 | 10.03 | 11.19 |
| Sep 8, 2021 | 16.09 | 4.28 | 14.94 | 5.99 | 12.55 | 49.25 | 1.94 | 12.81 | 5.38 | 15.58 | 10.72 | 9.24 | 19.02 | 13.22 | 13.95 |
| Aug 31, 2020 | 11.78 | 3.26 | 17.04 | — | 13.85 | 49.57 | 1.47 | 10.85 | 4.33 | 39.86 | 6.66 | 8.88 | 25.66 | 10.08 | 10.65 |
| Aug 30, 2019 | 11.05 | 2.72 | 15.11 | — | 8.56 | 36.28 | 1.63 | 8.38 | 4.74 | — | 7.06 | 9.00 | 19.36 | 6.27 | 14.75 |
| Aug 31, 2018 | 9.52 | 2.35 | 13.23 | — | 7.53 | — | 1.56 | 7.51 | 4.41 | — | 9.75 | 8.89 | 16.63 | 4.10 | 13.73 |
| Sep 1, 2017 | 6.99 | 2.45 | 13.32 | — | 5.85 | — | 1.82 | 6.19 | 5.56 | — | 7.49 | 6.96 | 14.55 | 4.80 | 11.06 |
| Sep 1, 2016 | 6.17 | 2.13 | 9.34 | — | 4.53 | — | 2.12 | 5.13 | 4.45 | — | 9.69 | 7.09 | 10.50 | 3.71 | 12.08 |
| Sep 1, 2015 | 5.56 | 2.11 | 9.27 | — | 3.73 | — | 1.56 | 3.99 | 4.66 | — | 16.88 | 7.82 | 8.69 | 3.07 | 19.97 |
| Sep 12, 2014 | 5.32 | 1.61 | 8.59 | — | 3.42 | — | 1.76 | 4.10 | 4.67 | — | 13.17 | 9.54 | 16.81 | 3.15 | 35.87 |
| Sep 13, 2013 | 4.47 | 1.64 | 7.45 | — | 2.96 | — | 1.91 | 3.41 | 3.75 | — | 8.38 | 8.92 | 22.61 | 3.12 | 37.91 |
| Sep 13, 2012 | 4.27 | 1.54 | 4.30 | — | 3.02 | — | 2.12 | 3.32 | 3.66 | — | 17.50 | 8.91 | 19.84 | 2.76 | — |
| Sep 14, 2011 | 3.71 | 1.47 | 3.65 | — | 2.81 | — | 2.15 | 3.32 | 4.60 | — | — | 9.79 | — | 2.52 | — |
| Sep 16, 2010 | 4.12 | 1.36 | 4.50 | — | 2.76 | — | 1.98 | 3.57 | 4.04 | — | — | 7.35 | — | 2.93 | — |
| Sep 15, 2009 | 2.81 | 1.20 | 6.12 | — | 1.81 | — | 1.72 | 3.63 | 4.63 | — | — | 3.52 | — | 2.33 | — |
| Sep 12, 2008 | 3.21 | 0.92 | 2.88 | — | 1.01 | — | 1.12 | 3.89 | 4.79 | — | — | 9.52 | — | 1.93 | — |
| Sep 14, 2007 | 3.61 | 1.41 | 6.24 | — | 1.91 | — | 1.60 | 20.52 | 5.60 | — | — | 9.94 | — | 3.16 | — |
| Sep 15, 2006 | 4.87 | 1.44 | 8.78 | — | 3.95 | — | 1.55 | 17.98 | 5.51 | — | — | 13.93 | — | 3.54 | — |
| Sep 26, 2005 | 3.94 | 1.32 | 11.84 | — | 3.86 | — | 1.38 | 21.64 | 5.80 | — | — | 8.64 | — | 3.15 | — |
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), 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., P/S, long-term trends, comparison to sector (software & services)
| Intuit Inc. | Software & Services | |
|---|---|---|
| Sep 9, 2026 | 3.91 | — |
| Sep 3, 2025 | 9.90 | 10.35 |
| Sep 4, 2024 | 10.72 | 10.31 |
| Sep 1, 2023 | 10.72 | 8.76 |
| Sep 2, 2022 | 9.30 | 7.38 |
| Sep 8, 2021 | 16.09 | 9.45 |
| Aug 31, 2020 | 11.78 | 7.72 |
| Aug 30, 2019 | 11.05 | 6.11 |
| Aug 31, 2018 | 9.52 | 5.24 |
| Sep 1, 2017 | 6.99 | 4.65 |
| Sep 1, 2016 | 6.17 | 3.95 |
| Sep 1, 2015 | 5.56 | 3.41 |
| Sep 12, 2014 | 5.32 | 3.34 |
| Sep 13, 2013 | 4.47 | 2.89 |
| Sep 13, 2012 | 4.27 | 2.79 |
| Sep 14, 2011 | 3.71 | 2.85 |
| Sep 16, 2010 | 4.12 | 2.73 |
| Sep 15, 2009 | 2.81 | 2.61 |
| Sep 12, 2008 | 3.21 | 2.31 |
| Sep 14, 2007 | 3.61 | 6.95 |
| Sep 15, 2006 | 4.87 | 6.20 |
| Sep 26, 2005 | 3.94 | 6.73 |
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), 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., P/S, long-term trends, comparison to industry (information technology)
| Intuit Inc. | Information Technology | |
|---|---|---|
| Sep 9, 2026 | 3.91 | — |
| Sep 3, 2025 | 9.90 | 10.44 |
| Sep 4, 2024 | 10.72 | 9.30 |
| Sep 1, 2023 | 10.72 | 7.31 |
| Sep 2, 2022 | 9.30 | 6.01 |
| Sep 8, 2021 | 16.09 | 6.98 |
| Aug 31, 2020 | 11.78 | 6.11 |
| Aug 30, 2019 | 11.05 | 4.62 |
| Aug 31, 2018 | 9.52 | 4.31 |
| Sep 1, 2017 | 6.99 | 4.18 |
| Sep 1, 2016 | 6.17 | 3.46 |
| Sep 1, 2015 | 5.56 | 3.03 |
| Sep 12, 2014 | 5.32 | 3.31 |
| Sep 13, 2013 | 4.47 | 2.85 |
| Sep 13, 2012 | 4.27 | 2.88 |
| Sep 14, 2011 | 3.71 | 2.84 |
| Sep 16, 2010 | 4.12 | 3.04 |
| Sep 15, 2009 | 2.81 | 3.11 |
| Sep 12, 2008 | 3.21 | 2.38 |
| Sep 14, 2007 | 3.61 | 5.73 |
| Sep 15, 2006 | 4.87 | 5.21 |
| Sep 26, 2005 | 3.94 | 5.62 |
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), 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).