Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Intuit Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
Analysis of the operational activity ratios reveals significant seasonal fluctuations and a gradual shift in liability management over the observed period.
- Receivables Management
- A pronounced cyclical pattern is evident in receivables turnover, with peaks typically occurring in the July and October quarters, reaching as high as 39.65. Conversely, the January and April periods consistently show lower turnover ratios. This seasonality is mirrored in the average receivable collection period, which drops to a low of 9 days during peak efficiency periods but extends to as many as 28 days during troughs. Despite these fluctuations, the collection cycle remains relatively short, indicating an efficient credit-to-cash process.
- Payables Management
- Payables turnover exhibits a general upward trend, increasing from 3.47 in October 2021 to 4.87 by July 2026. This correlates with a steady decline in the average payables payment period, which transitioned from a range of 105 to 158 days in 2021-2022 to a tighter range of 63 to 95 days in 2025-2026. The data indicates a strategic shift toward faster settlement of obligations to suppliers.
- Working Capital Efficiency
- Working capital turnover displays high volatility, characterized by an extreme peak of 21.87 in January 2022. Following this period of high efficiency, the ratio has fluctuated significantly, with a more recent downward trend observed from 2024 through 2026, where ratios have stabilized between 3.76 and 8.78. This decline suggests a potential increase in the volume of working capital required to support revenue generation in the later stages of the period.
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Turnover Ratios
Average No. Days
Receivables Turnover
Intuit Inc., receivables turnover calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net revenue | 4,354) | 8,558) | 4,651) | 3,885) | 3,831) | 7,754) | 3,963) | 3,283) | 3,184) | 6,737) | 3,386) | 2,978) | 2,712) | 6,018) | 3,041) | 2,597) | 2,414) | 5,632) | 2,673) | 2,007) | ||||||
| Accounts receivable, net | 625) | 834) | 1,175) | 579) | 530) | 724) | 1,017) | 426) | 457) | 790) | 928) | 372) | 405) | 717) | 903) | 384) | 446) | 738) | 889) | 411) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 34.32 | 25.09 | 17.12 | 33.56 | 35.53 | 25.12 | 16.88 | 38.94 | 35.63 | 20.02 | 16.27 | 39.65 | 35.48 | 19.62 | 15.15 | 34.68 | 28.53 | 17.44 | 12.84 | 25.10 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | — | 12.64 | 11.69 | 10.14 | 11.08 | 13.03 | 11.17 | 10.38 | 11.62 | 12.67 | 9.69 | 8.73 | 10.20 | 10.94 | 9.99 | 8.53 | 9.98 | 10.51 | 9.58 | ||||||
| AppLovin Corp. | — | — | 3.15 | 3.15 | 3.01 | 3.24 | 3.15 | 3.05 | 3.33 | 3.61 | 3.68 | 3.50 | 3.44 | 3.57 | 4.30 | 4.56 | 4.01 | 4.37 | 4.23 | 4.11 | ||||||
| Cadence Design Systems Inc. | — | — | 5.48 | 5.35 | 5.61 | 6.90 | 7.59 | 8.39 | 6.82 | 7.76 | 7.37 | 10.46 | 8.36 | 9.19 | 8.62 | 7.54 | 7.32 | 8.78 | 8.38 | 8.72 | ||||||
| Datadog Inc. | — | — | 4.79 | 5.40 | 4.62 | 5.84 | 4.99 | 5.78 | 4.48 | 5.21 | 4.49 | 5.01 | 4.18 | 5.01 | 5.70 | 4.89 | 4.19 | 4.39 | 4.47 | 4.33 | ||||||
| International Business Machines Corp. | — | — | 11.43 | 10.61 | 8.33 | 11.82 | 10.72 | 10.73 | 9.22 | 11.61 | 10.81 | 10.27 | 8.57 | 11.48 | 10.67 | 10.52 | 9.25 | 10.95 | 10.17 | 9.79 | ||||||
| Microsoft Corp. | 4.10 | 5.30 | 5.40 | 5.55 | 4.03 | 5.22 | 5.43 | 5.76 | 4.31 | 5.37 | 5.31 | 5.91 | 4.35 | 5.55 | 5.70 | 6.49 | 4.48 | 5.90 | 5.52 | 6.44 | ||||||
| Oracle Corp. | 6.49 | 5.98 | 6.46 | 6.67 | 6.71 | 6.93 | 6.72 | 6.71 | 6.73 | 7.20 | 7.59 | 7.82 | 7.22 | 7.72 | 7.43 | 7.44 | 7.13 | 9.12 | 9.28 | 9.11 | ||||||
| Palantir Technologies Inc. | — | — | 4.14 | 3.72 | 4.29 | 3.87 | 4.60 | 4.30 | 4.98 | 3.96 | 3.76 | 4.79 | 6.10 | 4.94 | 5.44 | 7.81 | 7.38 | 5.33 | 6.56 | 6.42 | ||||||
| Palo Alto Networks Inc. | 3.16 | 3.72 | 4.68 | 7.12 | 3.11 | 4.55 | 5.73 | 7.32 | 3.07 | 4.54 | 3.97 | 5.10 | 2.80 | 4.50 | 4.82 | 4.70 | 2.57 | 4.17 | 5.10 | 5.61 | ||||||
| Salesforce Inc. | 2.90 | 7.37 | 7.06 | 8.86 | 3.17 | 7.84 | 6.76 | 8.36 | 3.05 | 7.00 | 6.12 | 6.95 | 2.92 | 7.09 | 6.18 | 7.07 | 2.72 | 6.22 | 5.78 | 7.04 | ||||||
| ServiceNow Inc. | — | — | 6.69 | 8.15 | 5.05 | 8.18 | 7.11 | 8.44 | 4.90 | 8.00 | 6.56 | 7.26 | 4.41 | 7.26 | 7.33 | 6.87 | 4.20 | 7.71 | 7.74 | 7.59 | ||||||
| Synopsys Inc. | — | 7.14 | 6.85 | 4.88 | 4.69 | 4.62 | 6.21 | 6.80 | 6.56 | 7.56 | 7.25 | 5.63 | 6.17 | 8.29 | 6.78 | 5.00 | 6.38 | 7.25 | 6.58 | 4.34 | ||||||
| Workday Inc. | 4.10 | 5.27 | 5.57 | 6.38 | 4.33 | 5.81 | 6.09 | 6.68 | 4.43 | 5.70 | 5.28 | 5.94 | 3.96 | 5.71 | 5.13 | 6.94 | 4.14 | 5.66 | 5.35 | 6.91 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Receivables turnover
= (Net revenueQ4 2026
+ Net revenueQ3 2026
+ Net revenueQ2 2026
+ Net revenueQ1 2026)
÷ Accounts receivable, net
= (4,354 + 8,558 + 4,651 + 3,885)
÷ 625 = 34.32
2 Click competitor name to see calculations.
The analysis of receivables turnover reveals a pronounced cyclical pattern characterized by significant quarterly volatility. This fluctuation is closely aligned with the company's revenue seasonality, where dramatic increases in net revenue during the second quarter of each fiscal year drive shifts in the efficiency of receivables collection.
- Seasonal Turnover Variance
- A recurring trend is observed where the receivables turnover ratio reaches its lowest points in January of each year. For instance, ratios dropped to 12.84 in January 2022, 15.15 in January 2023, 16.27 in January 2024, 16.88 in January 2025, and 17.12 in January 2026. These troughs coincide with periodic peaks in net accounts receivable, suggesting a seasonal accumulation of outstanding invoices before the high-revenue period.
- Revenue Correlation and Peak Performance
- The turnover ratio typically peaks in the third and fourth quarters, often following the massive revenue surge observed every April. High efficiency is noted in the October periods, with the ratio climbing from 25.10 in October 2021 to a peak of 39.65 in October 2023. This indicates a rapid conversion of receivables into cash following the primary business cycle peak.
- Long-term Efficiency Trend
- Despite the volatility, a gradual improvement in the baseline efficiency is evident. The minimum turnover values recorded every January have shown a consistent upward trajectory over the five-year period, rising from 12.84 to 17.12. This suggests an incremental improvement in credit management or a shift in the timing of revenue recognition and collections during off-peak months.
- Stability in Late-Cycle Ratios
- In the most recent periods, the ratio has exhibited signs of stabilization during the summer months. The July turnover ratios have remained relatively consistent, moving from 28.53 in July 2022 to 35.48 in July 2023, 35.63 in July 2024, 35.53 in July 2025, and 34.32 in July 2026, indicating a predictable and sustainable collection cadence in the post-peak season.
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Payables Turnover
Intuit Inc., payables turnover calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cost of revenue | 953) | 1,374) | 1,043) | 883) | 894) | 1,194) | 937) | 823) | 783) | 1,067) | 855) | 760) | 713) | 981) | 773) | 676) | 600) | 824) | 565) | 417) | ||||||
| Accounts payable | 873) | 1,096) | 946) | 670) | 792) | 1,002) | 1,038) | 652) | 721) | 886) | 789) | 630) | 638) | 921) | 811) | 670) | 737) | 900) | 883) | 531) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 4.87 | 3.83 | 4.24 | 5.83 | 4.86 | 3.73 | 3.48 | 5.41 | 4.81 | 3.83 | 4.19 | 5.12 | 4.93 | 3.29 | 3.54 | 3.98 | 3.26 | 2.52 | 2.31 | 3.47 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 15.64 | 15.73 | 16.19 | 17.60 | 17.37 | 17.43 | 17.38 | 15.94 | 19.31 | 19.54 | 16.93 | 17.41 | 18.03 | 17.35 | 17.54 | 16.37 | 16.93 | 17.22 | 16.45 | ||||||
| Adobe Inc. | — | — | 5.35 | 6.19 | 6.12 | 7.47 | 6.75 | 7.33 | 6.53 | 7.47 | 6.73 | 7.92 | 7.50 | 7.29 | 6.51 | 7.21 | 5.71 | 6.66 | 5.53 | 6.54 | ||||||
| AppLovin Corp. | — | — | 1.01 | 1.03 | 0.89 | 1.55 | 1.62 | 1.72 | 2.07 | 2.62 | 2.88 | 2.80 | 2.85 | 4.11 | 4.57 | 4.37 | 4.60 | 4.40 | 3.90 | 2.83 | ||||||
| Datadog Inc. | — | — | 2.59 | 4.23 | 4.62 | 4.76 | 3.05 | 5.72 | 4.79 | 5.18 | 3.81 | 6.53 | 4.67 | 4.71 | 8.16 | 8.95 | 14.77 | 11.48 | 6.02 | 14.07 | ||||||
| International Business Machines Corp. | — | — | 6.59 | 7.10 | 5.94 | 7.14 | 6.84 | 7.53 | 6.75 | 8.31 | 7.54 | 7.67 | 6.67 | 8.23 | 7.36 | 7.44 | 6.87 | 7.35 | 7.40 | 7.69 | ||||||
| Microsoft Corp. | 2.51 | 2.69 | 2.57 | 2.82 | 3.17 | 3.18 | 3.54 | 3.42 | 3.37 | 3.94 | 3.89 | 3.46 | 3.64 | 4.28 | 4.23 | 3.88 | 3.30 | 3.74 | 3.76 | 3.70 | ||||||
| Oracle Corp. | 2.10 | 2.23 | 1.89 | 2.18 | 3.31 | 6.65 | 5.89 | 7.00 | 6.42 | 9.02 | 13.12 | 13.67 | 11.27 | 7.60 | 6.68 | 6.72 | 6.74 | 7.65 | 8.03 | 10.79 | ||||||
| Palo Alto Networks Inc. | 11.73 | 10.16 | 10.00 | 11.37 | 10.56 | 9.99 | 15.01 | 10.12 | 17.71 | 18.29 | 10.93 | 14.57 | 14.43 | 20.69 | 14.50 | 14.30 | 13.43 | 14.68 | 12.25 | 14.46 | ||||||
| ServiceNow Inc. | — | — | 22.94 | 7.66 | 14.62 | 19.04 | 12.27 | 7.83 | 33.63 | 13.16 | 7.04 | 8.98 | 15.25 | 26.38 | 10.08 | 7.20 | 5.74 | 7.86 | 5.60 | 8.57 | ||||||
| Workday Inc. | 16.35 | 21.83 | 21.88 | 23.01 | 19.16 | 26.89 | 21.90 | 24.24 | 22.71 | 22.24 | 19.76 | 15.27 | 11.16 | 21.79 | 25.95 | 12.14 | 25.74 | 28.20 | 24.24 | 25.48 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Payables turnover
= (Cost of revenueQ4 2026
+ Cost of revenueQ3 2026
+ Cost of revenueQ2 2026
+ Cost of revenueQ1 2026)
÷ Accounts payable
= (953 + 1,374 + 1,043 + 883)
÷ 873 = 4.87
2 Click competitor name to see calculations.
The payables turnover ratio exhibits significant cyclicality over the analyzed period, reflecting seasonal fluctuations in operational costs and corresponding payment cycles. The overall trend indicates a general increase in turnover efficiency from 2022 through 2026, despite recurring quarterly volatility.
- Turnover Trend and Volatility
- The payables turnover ratio reached a period low of 2.31 in January 2022. Following this trough, a general upward trend was established, peaking at 5.83 in October 2025. This progression suggests an acceleration in the rate at which the company settles its short-term obligations relative to its cost of revenue, implying a shift toward more frequent payment cycles or a tighter management of supplier credit.
- Seasonal Correlation with Operational Costs
- A distinct seasonal pattern is observable, characterized by recurring spikes in the cost of revenue, most notably every April. These cost peaks often correlate with fluctuations in the turnover ratio. For example, the significant cost increase in April 2026 to 1,374 million US dollars coincided with a turnover ratio of 3.83, while the subsequent quarter showed a higher turnover of 4.87, indicating a pattern of accumulating obligations during peak operational periods followed by rapid settlement.
- Accounts Payable Balance Analysis
- Accounts payable balances have shifted from a baseline of 531 million US dollars in October 2021 to a peak of 1,096 million US dollars in April 2026. The interplay between these balances and the turnover ratio reveals that the company maintains higher payable levels during high-cost quarters to support operational surges, while turnover ratios typically peak in the quarters following these surges, as seen in the high ratio of 5.41 in October 2023 and 5.83 in October 2025.
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Working Capital Turnover
Intuit Inc., working capital turnover calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 15,311) | 17,837) | 11,703) | 10,421) | 14,107) | 13,965) | 9,135) | 10,726) | 9,678) | 9,236) | 7,300) | 6,231) | 5,557) | 6,649) | 4,756) | 4,554) | 5,047) | 5,858) | 3,490) | 4,487) | ||||||
| Less: Current liabilities | 10,163) | 12,276) | 8,844) | 7,519) | 10,370) | 9,654) | 7,179) | 8,619) | 7,491) | 6,163) | 6,216) | 4,996) | 3,790) | 4,415) | 3,862) | 3,325) | 3,630) | 3,591) | 2,968) | 2,138) | ||||||
| Working capital | 5,148) | 5,561) | 2,859) | 2,902) | 3,737) | 4,311) | 1,956) | 2,107) | 2,187) | 3,073) | 1,084) | 1,235) | 1,767) | 2,234) | 894) | 1,229) | 1,417) | 2,267) | 522) | 2,349) | ||||||
| Net revenue | 4,354) | 8,558) | 4,651) | 3,885) | 3,831) | 7,754) | 3,963) | 3,283) | 3,184) | 6,737) | 3,386) | 2,978) | 2,712) | 6,018) | 3,041) | 2,597) | 2,414) | 5,632) | 2,673) | 2,007) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | 4.17 | 3.76 | 7.04 | 6.70 | 5.04 | 4.22 | 8.78 | 7.87 | 7.45 | 5.15 | 13.92 | 11.94 | 8.13 | 6.30 | 15.31 | 10.83 | 8.98 | 5.68 | 21.87 | 4.39 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 9.97 | 10.23 | 8.66 | 8.15 | 7.92 | 8.22 | 8.28 | 34.49 | 22.48 | 15.40 | 11.18 | 11.93 | 10.11 | 13.40 | 14.81 | 15.07 | 13.41 | 15.55 | 15.85 | ||||||
| Adobe Inc. | — | — | — | — | — | 133.99 | — | 13.02 | 30.25 | 19.54 | 13.19 | 42.33 | 6.85 | 9.10 | 14.68 | 19.89 | 20.28 | 16.36 | 31.92 | 57.86 | ||||||
| AppLovin Corp. | — | — | 1.65 | 1.84 | 1.77 | 2.15 | 2.63 | 5.02 | 3.75 | 3.91 | 4.25 | 4.29 | 4.89 | 6.12 | 2.61 | 2.03 | 2.07 | 2.27 | 2.49 | 1.86 | ||||||
| Cadence Design Systems Inc. | — | — | 4.25 | 5.43 | 1.75 | 1.81 | 1.87 | 1.81 | 1.75 | 1.80 | 6.28 | 8.78 | 10.61 | 7.00 | 8.51 | 7.12 | 9.92 | 8.31 | 5.34 | 4.07 | ||||||
| Datadog Inc. | — | — | 0.96 | 0.93 | 0.90 | 0.91 | 0.92 | 0.88 | 0.88 | 1.26 | 1.33 | 0.96 | 0.98 | 1.02 | 1.03 | 1.06 | 1.06 | 1.02 | 0.95 | 0.85 | ||||||
| International Business Machines Corp. | — | — | — | — | — | — | — | 273.18 | 46.83 | 37.03 | 17.08 | 14.55 | — | — | 31.12 | 12.14 | — | — | — | — | ||||||
| Microsoft Corp. | 8.53 | 8.23 | 6.09 | 5.43 | 5.64 | 6.36 | 6.85 | 7.32 | 7.12 | 8.26 | 8.63 | 2.64 | 2.65 | 2.65 | 2.68 | 2.77 | 2.66 | 2.52 | 1.91 | 1.88 | ||||||
| Oracle Corp. | 14.02 | 4.53 | — | — | — | 113.15 | — | — | — | — | — | — | — | — | — | — | 3.50 | 3.86 | 3.39 | 1.70 | ||||||
| Palantir Technologies Inc. | — | — | 0.64 | 0.64 | 0.62 | 0.61 | 0.59 | 0.59 | 0.58 | 0.60 | 0.62 | 0.63 | 0.66 | 0.68 | 0.71 | 0.75 | 0.78 | 0.81 | 0.78 | 0.73 | ||||||
| Palo Alto Networks Inc. | — | — | 27.48 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Salesforce Inc. | — | — | 14.11 | 23.11 | 21.69 | 18.14 | 42.35 | 14.56 | 14.27 | 42.02 | 99.31 | 90.67 | 62.21 | 30.85 | 25.15 | 54.57 | 24.95 | 27.10 | — | 4.36 | ||||||
| ServiceNow Inc. | — | — | — | — | 474.21 | 25.49 | 15.46 | 11.33 | 13.25 | 11.50 | 11.73 | 27.96 | 21.77 | 19.04 | 9.59 | 7.83 | 11.16 | 6.63 | 11.21 | 10.61 | ||||||
| Synopsys Inc. | — | 5.62 | 5.27 | 5.60 | 3.08 | 2.99 | 0.43 | 1.53 | 1.60 | 2.35 | 2.82 | 7.85 | 13.12 | 10.27 | 12.83 | 17.05 | 21.34 | 14.02 | 7.78 | 9.47 | ||||||
| Workday Inc. | 4.66 | 2.22 | 1.64 | 1.69 | 1.69 | 1.75 | 1.68 | 1.70 | 1.49 | 1.54 | 1.60 | 1.69 | 1.79 | 1.83 | 1.93 | 2.03 | 35.15 | 11.69 | 24.99 | — | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Working capital turnover
= (Net revenueQ4 2026
+ Net revenueQ3 2026
+ Net revenueQ2 2026
+ Net revenueQ1 2026)
÷ Working capital
= (4,354 + 8,558 + 4,651 + 3,885)
÷ 5,148 = 4.17
2 Click competitor name to see calculations.
The financial data reveals a pronounced seasonal pattern in both revenue generation and working capital management, characterized by significant quarterly fluctuations and a long-term expansion of the balance sheet.
- Revenue Seasonality and Growth
- Net revenue exhibits a consistent and sharp spike every April, reflecting a strong seasonal business cycle. These peaks have grown incrementally over the observed period, rising from 5,632 million in April 2022 to 8,558 million by April 2026. Outside of the April peaks, revenue remains relatively stable with a gradual upward trajectory.
- Working Capital Dynamics
- Working capital demonstrates high volatility, often fluctuating in tandem with the seasonal revenue cycle. There is a discernible long-term upward trend in the scale of working capital, particularly in the peak periods. The maximum working capital reached 5,561 million in April 2026, compared to 2,349 million in October 2021, indicating a substantial increase in the net current asset position over time.
- Working Capital Turnover Analysis
- The working capital turnover ratio is characterized by extreme volatility due to the interplay between seasonal revenue surges and fluctuating working capital levels. Historically, the ratio reached its highest points during periods of minimized working capital, such as the peak of 21.87 in January 2022. However, a downward trend in the turnover ratio is observable from 2024 through 2026, with values declining toward a range of 3.76 to 4.17. This suggests that working capital is expanding at a faster rate than the growth in net revenue, leading to a decrease in the efficiency of working capital utilization relative to sales.
Overall, while the company continues to grow its top-line revenue, the increasing amount of capital tied up in short-term operations has resulted in a lower turnover ratio, signaling a shift in the operational efficiency of the working capital cycle.
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Average Receivable Collection Period
Intuit Inc., average receivable collection period calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Receivables turnover | 34.32 | 25.09 | 17.12 | 33.56 | 35.53 | 25.12 | 16.88 | 38.94 | 35.63 | 20.02 | 16.27 | 39.65 | 35.48 | 19.62 | 15.15 | 34.68 | 28.53 | 17.44 | 12.84 | 25.10 | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 11 | 15 | 21 | 11 | 10 | 15 | 22 | 9 | 10 | 18 | 22 | 9 | 10 | 19 | 24 | 11 | 13 | 21 | 28 | 15 | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Adobe Inc. | — | — | 29 | 31 | 36 | 33 | 28 | 33 | 35 | 31 | 29 | 38 | 42 | 36 | 33 | 37 | 43 | 37 | 35 | 38 | ||||||
| AppLovin Corp. | — | — | 116 | 116 | 121 | 113 | 116 | 120 | 110 | 101 | 99 | 104 | 106 | 102 | 85 | 80 | 91 | 84 | 86 | 89 | ||||||
| Cadence Design Systems Inc. | — | — | 67 | 68 | 65 | 53 | 48 | 43 | 54 | 47 | 50 | 35 | 44 | 40 | 42 | 48 | 50 | 42 | 44 | 42 | ||||||
| Datadog Inc. | — | — | 76 | 68 | 79 | 62 | 73 | 63 | 81 | 70 | 81 | 73 | 87 | 73 | 64 | 75 | 87 | 83 | 82 | 84 | ||||||
| International Business Machines Corp. | — | — | 32 | 34 | 44 | 31 | 34 | 34 | 40 | 31 | 34 | 36 | 43 | 32 | 34 | 35 | 39 | 33 | 36 | 37 | ||||||
| Microsoft Corp. | 89 | 69 | 68 | 66 | 91 | 70 | 67 | 63 | 85 | 68 | 69 | 62 | 84 | 66 | 64 | 56 | 81 | 62 | 66 | 57 | ||||||
| Oracle Corp. | 56 | 61 | 56 | 55 | 54 | 53 | 54 | 54 | 54 | 51 | 48 | 47 | 51 | 47 | 49 | 49 | 51 | 40 | 39 | 40 | ||||||
| Palantir Technologies Inc. | — | — | 88 | 98 | 85 | 94 | 79 | 85 | 73 | 92 | 97 | 76 | 60 | 74 | 67 | 47 | 49 | 68 | 56 | 57 | ||||||
| Palo Alto Networks Inc. | 115 | 98 | 78 | 51 | 117 | 80 | 64 | 50 | 119 | 80 | 92 | 72 | 130 | 81 | 76 | 78 | 142 | 88 | 72 | 65 | ||||||
| Salesforce Inc. | 126 | 50 | 52 | 41 | 115 | 47 | 54 | 44 | 120 | 52 | 60 | 53 | 125 | 52 | 59 | 52 | 134 | 59 | 63 | 52 | ||||||
| ServiceNow Inc. | — | — | 55 | 45 | 72 | 45 | 51 | 43 | 74 | 46 | 56 | 50 | 83 | 50 | 50 | 53 | 87 | 47 | 47 | 48 | ||||||
| Synopsys Inc. | — | 51 | 53 | 75 | 78 | 79 | 59 | 54 | 56 | 48 | 50 | 65 | 59 | 44 | 54 | 73 | 57 | 50 | 55 | 84 | ||||||
| Workday Inc. | 89 | 69 | 66 | 57 | 84 | 63 | 60 | 55 | 82 | 64 | 69 | 61 | 92 | 64 | 71 | 53 | 88 | 65 | 68 | 53 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 34.32 = 11
2 Click competitor name to see calculations.
The analysis of the average receivable collection period reveals a distinct and recurring cyclical pattern over the observed timeframe. The efficiency of credit collection fluctuates significantly on a quarterly basis, suggesting strong seasonal influences on the timing of payments or revenue recognition.
- Seasonal Collection Peaks
- A consistent increase in the collection period is observed every January. The longest duration to collect receivables occurred in January 2022 at 28 days, followed by subsequent January peaks ranging between 21 and 24 days. This suggests a recurring quarterly slowdown in cash conversion during the first month of the calendar year.
- Periods of Maximum Efficiency
- The most efficient collection cycles are consistently recorded during the July and October quarters. The collection period reaches its lowest points of 9 to 11 days during these intervals, with the absolute minimum of 9 days occurring in October 2023 and October 2024. This indicates a rapid conversion of receivables into cash during the second half of the fiscal year.
- Correlation with Receivables Turnover
- An inverse relationship is maintained between the receivables turnover ratio and the average collection period. High turnover ratios, such as the peak of 39.65 in October 2023, correlate directly with the shortest collection periods. Conversely, when the turnover ratio drops—most notably to 12.84 in January 2022—the collection period reaches its maximum duration.
Despite the quarterly volatility, the collection period remains within a relatively narrow range of 9 to 28 days. This indicates that, regardless of seasonal fluctuations, the entity maintains a highly liquid position with a receivable collection cycle that never exceeds one month.
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Average Payables Payment Period
Intuit Inc., average payables payment period calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Payables turnover | 4.87 | 3.83 | 4.24 | 5.83 | 4.86 | 3.73 | 3.48 | 5.41 | 4.81 | 3.83 | 4.19 | 5.12 | 4.93 | 3.29 | 3.54 | 3.98 | 3.26 | 2.52 | 2.31 | 3.47 | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 75 | 95 | 86 | 63 | 75 | 98 | 105 | 67 | 76 | 95 | 87 | 71 | 74 | 111 | 103 | 92 | 112 | 145 | 158 | 105 | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 23 | 23 | 23 | 21 | 21 | 21 | 21 | 23 | 19 | 19 | 22 | 21 | 20 | 21 | 21 | 22 | 22 | 21 | 22 | ||||||
| Adobe Inc. | — | — | 68 | 59 | 60 | 49 | 54 | 50 | 56 | 49 | 54 | 46 | 49 | 50 | 56 | 51 | 64 | 55 | 66 | 56 | ||||||
| AppLovin Corp. | — | — | 361 | 355 | 410 | 235 | 225 | 212 | 176 | 139 | 127 | 130 | 128 | 89 | 80 | 84 | 79 | 83 | 94 | 129 | ||||||
| Datadog Inc. | — | — | 141 | 86 | 79 | 77 | 120 | 64 | 76 | 71 | 96 | 56 | 78 | 78 | 45 | 41 | 25 | 32 | 61 | 26 | ||||||
| International Business Machines Corp. | — | — | 55 | 51 | 61 | 51 | 53 | 48 | 54 | 44 | 48 | 48 | 55 | 44 | 50 | 49 | 53 | 50 | 49 | 47 | ||||||
| Microsoft Corp. | 146 | 136 | 142 | 130 | 115 | 115 | 103 | 107 | 108 | 93 | 94 | 106 | 100 | 85 | 86 | 94 | 111 | 98 | 97 | 99 | ||||||
| Oracle Corp. | 174 | 164 | 193 | 167 | 110 | 55 | 62 | 52 | 57 | 40 | 28 | 27 | 32 | 48 | 55 | 54 | 54 | 48 | 45 | 34 | ||||||
| Palo Alto Networks Inc. | 31 | 36 | 36 | 32 | 35 | 37 | 24 | 36 | 21 | 20 | 33 | 25 | 25 | 18 | 25 | 26 | 27 | 25 | 30 | 25 | ||||||
| ServiceNow Inc. | — | — | 16 | 48 | 25 | 19 | 30 | 47 | 11 | 28 | 52 | 41 | 24 | 14 | 36 | 51 | 64 | 46 | 65 | 43 | ||||||
| Workday Inc. | 22 | 17 | 17 | 16 | 19 | 14 | 17 | 15 | 16 | 16 | 18 | 24 | 33 | 17 | 14 | 30 | 14 | 13 | 15 | 14 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.87 = 75
2 Click competitor name to see calculations.
The average payables payment period exhibits significant volatility over the analyzed timeframe, characterized by an initial surge in payment duration followed by a general transition toward more accelerated settlement cycles. An overall contraction in the time taken to settle obligations is evident when comparing the peak durations of early 2022 to the levels observed in 2025 and 2026.
- Peak Payment Duration
- The longest payment cycle occurred in January 2022, reaching 158 days. This peak aligns with the lowest recorded payables turnover ratio of 2.31, indicating a period of significantly slower supplier settlements.
- Trend Toward Acceleration
- A marked downward trend in the payment period is observed between July 2023 and October 2024, during which the duration decreased from 74 days to 67 days. This phase reflects a more aggressive approach to managing short-term liabilities.
- Recent Volatility and Minimums
- The period from January 2025 to July 2026 is characterized by sharp fluctuations. A temporary increase to 105 days in January 2025 was followed by a decline to the absolute minimum of 63 days in October 2025, before stabilizing around 75 to 95 days in the final quarters.
- Inverse Correlation with Turnover
- A consistent inverse relationship is maintained between the payables turnover ratio and the average payment period. High turnover ratios, such as the 5.83 recorded in October 2025, directly correspond to the shortest payment windows, while lower turnover ratios correlate with extended payment durations.
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