Analysis of Reportable Segments
Intuit Inc. operates in 3 segments: Small Business & Self-Employed; Consumer; and ProTax.
Segment Profit Margin
Intuit Inc., profit margin by reportable segment
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Small Business & Self-Employed | 56.38% | 54.16% | 55.25% | 51.63% | 48.74% | 41.98% |
| Consumer | 65.47% | 63.42% | 62.78% | 65.78% | 65.59% | 63.41% |
| ProTax | 70.41% | 70.15% | 71.95% | 70.18% | 69.33% | 62.03% |
Based on: 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Small Business & Self-Employed | Small Business & Self-Employed segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Consumer | Consumer segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| ProTax | ProTax segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Small Business & Self-Employed
Intuit Inc.; Small Business & Self-Employed; segment profit margin calculation
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 4,532) | 3,499) | 2,590) | 2,091) | 1,722) | 1,257) |
| Net revenue | 8,038) | 6,460) | 4,688) | 4,050) | 3,533) | 2,994) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 56.38% | 54.16% | 55.25% | 51.63% | 48.74% | 41.98% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Segment operating income ÷ Net revenue
= 100 × 4,532 ÷ 8,038 = 56.38%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Small Business & Self-Employed | Small Business & Self-Employed segment profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Profit Margin: Consumer
Intuit Inc.; Consumer; segment profit margin calculation
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 2,707) | 2,483) | 2,237) | 2,063) | 1,820) | 1,596) |
| Net revenue | 4,135) | 3,915) | 3,563) | 3,136) | 2,775) | 2,517) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 65.47% | 63.42% | 62.78% | 65.78% | 65.59% | 63.41% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Segment operating income ÷ Net revenue
= 100 × 2,707 ÷ 4,135 = 65.47%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Consumer | Consumer segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: ProTax
Intuit Inc.; ProTax; segment profit margin calculation
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Segment operating income | 395) | 383) | 372) | 346) | 330) | 281) |
| Net revenue | 561) | 546) | 517) | 493) | 476) | 453) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 70.41% | 70.15% | 71.95% | 70.18% | 69.33% | 62.03% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Segment operating income ÷ Net revenue
= 100 × 395 ÷ 561 = 70.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | ProTax | ProTax segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Net revenue
Intuit Inc., net revenue by reportable segment
US$ in millions
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Small Business & Self-Employed | 8,038) | 6,460) | 4,688) | 4,050) | 3,533) | 2,994) |
| Consumer | 4,135) | 3,915) | 3,563) | 3,136) | 2,775) | 2,517) |
| Credit Karma | 1,634) | 1,805) | 865) | —) | —) | —) |
| ProTax | 561) | 546) | 517) | 493) | 476) | 453) |
| Total | 14,368) | 12,726) | 9,633) | 7,679) | 6,784) | 5,964) |
Based on: 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).
Segment operating income
Intuit Inc., segment operating income by reportable segment
US$ in millions
| Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | Jul 31, 2019 | Jul 31, 2018 | |
|---|---|---|---|---|---|---|
| Small Business & Self-Employed | 4,532) | 3,499) | 2,590) | 2,091) | 1,722) | 1,257) |
| Consumer | 2,707) | 2,483) | 2,237) | 2,063) | 1,820) | 1,596) |
| Credit Karma | 428) | 531) | 182) | —) | —) | —) |
| ProTax | 395) | 383) | 372) | 346) | 330) | 281) |
| Total | 8,062) | 6,896) | 5,381) | 4,500) | 3,872) | 3,134) |
Based on: 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).