Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

Price to FCFE (P/FCFE) 

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Intuit Inc., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019 Jul 31, 2018
Net income 2,384 2,066 2,062 1,826 1,557 1,211
Net noncash charges 2,061 2,259 1,199 456 634 771
Changes in operating assets and liabilities 601 (436) (11) 132 133 130
Net cash provided by operating activities 5,046 3,889 3,250 2,414 2,324 2,112
Purchases of property and equipment (210) (157) (53) (59) (76) (38)
Capitalization of internal use software (50) (72) (72) (78) (79) (86)
Proceeds from issuance of long-term debt 4,700 1,983
Repayments of debt (1,009) (338) (50) (50) (50)
Proceeds from borrowings under unsecured revolving credit facility 1,000 800
Repayments on borrowings under unsecured revolving credit facility (1,000) (800)
Proceeds from borrowings under secured revolving credit facilities 222 182 48
Repayments on borrowings under secured revolving credit facilities (23)
Free cash flow to equity (FCFE) 3,976 8,542 1,787 5,210 2,167 1,938

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Intuit Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Intuit Inc. FCFE increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Price to FCFE Ratio, Current

Intuit Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 279,979,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 3,976
FCFE per share 14.20
Current share price (P) 630.39
Valuation Ratio
P/FCFE 44.39
Benchmarks
P/FCFE, Competitors1
Accenture PLC 25.72
Adobe Inc. 36.05
International Business Machines Corp. 10.37
Microsoft Corp. 54.66
Oracle Corp. 16.40
Palo Alto Networks Inc. 98.13
Salesforce Inc. 37.92
ServiceNow Inc. 57.30
Synopsys Inc. 56.60
P/FCFE, Sector
Software & Services 38.96
P/FCFE, Industry
Information Technology 42.81

Based on: 10-K (reporting date: 2023-07-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Intuit Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019 Jul 31, 2018
No. shares of common stock outstanding1 280,259,493 281,869,879 273,091,929 261,807,204 260,073,642 258,671,620
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 3,976 8,542 1,787 5,210 2,167 1,938
FCFE per share3 14.19 30.30 6.54 19.90 8.33 7.49
Share price1, 4 549.60 420.06 567.59 345.39 288.36 219.47
Valuation Ratio
P/FCFE5 38.74 13.86 86.74 17.36 34.61 29.29
Benchmarks
P/FCFE, Competitors6
Accenture PLC 21.03 17.91 25.76 19.01 19.50 18.11
Adobe Inc. 41.83 21.32 34.26 41.36 41.90 19.87
International Business Machines Corp. 9.97 11.97 48.45 9.43 4.39
Microsoft Corp. 43.32 36.73 42.54 42.74 30.77 37.57
Oracle Corp. 15.47 8.36 6.27 22.31 10.78
Palo Alto Networks Inc. 79.75 29.54 32.91 8.11 46.20 8.50
Salesforce Inc. 31.06 16.56 49.52 50.40 29.09
ServiceNow Inc. 58.13 44.44 64.54 49.83 68.98
Synopsys Inc. 57.04 33.41 40.55 45.07 77.64 19.63
P/FCFE, Sector
Software & Services 32.42 30.43 33.49 25.65 21.90
P/FCFE, Industry
Information Technology 33.33 26.59 27.28 23.35 18.93

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 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,976,000,000 ÷ 280,259,493 = 14.19

4 Closing price as at the filing date of Intuit Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 549.60 ÷ 14.19 = 38.74

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Intuit Inc. P/FCFE ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.