Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Intuit Inc., adjusted financial ratios

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Activity Ratio
	Total Asset Turnover
	Reported
	Adjusted
	Liquidity Ratio
	Current Ratio
	Reported
	Adjusted
	Solvency Ratios
	Debt to Equity
	Reported
	Adjusted
	Debt to Capital
	Reported
	Adjusted
	Financial Leverage
	Reported
	Adjusted
	Profitability Ratios
	Net Profit Margin
	Reported
	Adjusted
	Return on Equity (ROE)
	Reported
	Adjusted
	Return on Assets (ROA)
	Reported
	Adjusted

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Intuit Inc.’s adjusted total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Intuit Inc.’s adjusted current ratio improved from 2017 to 2018 and from 2018 to 2019.
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Intuit Inc.’s adjusted debt-to-equity ratio improved from 2017 to 2018 and from 2018 to 2019.
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Intuit Inc.’s adjusted debt-to-capital ratio improved from 2017 to 2018 and from 2018 to 2019.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Intuit Inc.’s adjusted financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Intuit Inc.’s adjusted net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Intuit Inc.’s adjusted ROE deteriorated from 2017 to 2018 and from 2018 to 2019.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Intuit Inc.’s adjusted ROA deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Intuit Inc., Financial Ratios: Reported vs. Adjusted

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Net revenue
	Total assets
	Activity Ratio
	Total asset turnover¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted net revenue²
	Adjusted total assets³
	Activity Ratio
	Adjusted total asset turnover⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Total asset turnover = Net revenue ÷ Total assets
= hidden ÷ hidden = hidden

² Adjusted net revenue. See details »

³ Adjusted total assets. See details »

⁴ 2019 Calculation
Adjusted total asset turnover = Adjusted net revenue ÷ Adjusted total assets
= hidden ÷ hidden = hidden

Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Intuit Inc.’s adjusted total asset turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Current assets
	Current liabilities
	Liquidity Ratio
	Current ratio¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted current assets²
	Adjusted current liabilities³
	Liquidity Ratio
	Adjusted current ratio⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Current ratio = Current assets ÷ Current liabilities
= hidden ÷ hidden = hidden

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2019 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= hidden ÷ hidden = hidden

Liquidity ratio	Description	The company
Adjusted current ratio	A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities.	Intuit Inc.’s adjusted current ratio improved from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Total debt
	Stockholders’ equity
	Solvency Ratio
	Debt to equity¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted total debt²
	Adjusted stockholders’ equity³
	Solvency Ratio
	Adjusted debt to equity⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

² Adjusted total debt. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2019 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Adjusted debt-to-equity ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total equity.	Intuit Inc.’s adjusted debt-to-equity ratio improved from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Total debt
	Total capital
	Solvency Ratio
	Debt to capital¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted total debt²
	Adjusted total capital³
	Solvency Ratio
	Adjusted debt to capital⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2019 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Adjusted debt-to-capital ratio	A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity.	Intuit Inc.’s adjusted debt-to-capital ratio improved from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Total assets
	Stockholders’ equity
	Solvency Ratio
	Financial leverage¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted total assets²
	Adjusted stockholders’ equity³
	Solvency Ratio
	Adjusted financial leverage⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= hidden ÷ hidden = hidden

² Adjusted total assets. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2019 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= hidden ÷ hidden = hidden

Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Intuit Inc.’s adjusted financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Net income
	Net revenue
	Profitability Ratio
	Net profit margin¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted net income²
	Adjusted net revenue³
	Profitability Ratio
	Adjusted net profit margin⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
Net profit margin = 100 × Net income ÷ Net revenue
= 100 × hidden ÷ hidden = hidden

² Adjusted net income. See details »

³ Adjusted net revenue. See details »

⁴ 2019 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted net revenue
= 100 × hidden ÷ hidden = hidden

Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Intuit Inc.’s adjusted net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Net income
	Stockholders’ equity
	Profitability Ratio
	ROE¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted net income²
	Adjusted stockholders’ equity³
	Profitability Ratio
	Adjusted ROE⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × hidden ÷ hidden = hidden

² Adjusted net income. See details »

³ Adjusted stockholders’ equity. See details »

⁴ 2019 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × hidden ÷ hidden = hidden

Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted total equity.	Intuit Inc.’s adjusted ROE deteriorated from 2017 to 2018 and from 2018 to 2019.

		Jul 31, 2019	Jul 31, 2018	Jul 31, 2017	Jul 31, 2016	Jul 31, 2015	Jul 31, 2014
	Reported
	Selected Financial Data (US$ in millions)
	Net income
	Total assets
	Profitability Ratio
	ROA¹
	Adjusted
	Selected Financial Data (US$ in millions)
	Adjusted net income²
	Adjusted total assets³
	Profitability Ratio
	Adjusted ROA⁴

Based on: 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01), 10-K (filing date: 2014-09-12).

¹ 2019 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × hidden ÷ hidden = hidden

² Adjusted net income. See details »

³ Adjusted total assets. See details »

⁴ 2019 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × hidden ÷ hidden = hidden

Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Intuit Inc.’s adjusted ROA deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

	Intuit Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

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Financial Statements
Common-Size Financial Statements
Analysis of Financial Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis of Components of Financial Statements
Financial Reporting Quality

Intuit Inc. (INTU)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

Intuit Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)