Short answer
Intuit (INTU) filed its fiscal 2026 10-K annual report with the SEC on Sep 9, 2026. It reported revenue of $21.4B (+13.9% year over year) and net income of $4.6B.
- Top risk flagged: EU Artificial Intelligence Act (2025) and U.S. state AI laws (CA, CO, UT) may increase costs and limit AI deployment, impacting innovation and compliance
FY2026 key financial metrics · XBRL
- Revenue
- $21.4B
- +13.9% YoY
- Net income
- $4.6B
- +18.0% YoY
- Operating margin
- 27.4%
- +1.3 pp YoY
- EPS (diluted)
- $16.46
- +20.4% YoY
- ROE
- 24.0%
- +4.4 pp YoY
- Operating cash flow
- $8.8B
- +42.4% YoY
Source: XBRL data from the Intuit (INTU) FY2026 10-K on SEC EDGAR. USD.
Intuit FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: AI-driven expert financial technology platform serving consumers, small/mid-market businesses, and accountants with integrated financial, tax, and marketing solutions
- New to FY2026: Scaled AI agents launching a unified Generative AI Operating System (GenOS) platform for autonomous business and accounting workflows
- Strategic shift: Transition from tax/accounting software to AI-powered done-for-you experiences blending AI agents and human experts as a competitive advantage
- Quantitative metric: Approximately 18,600 employees plus 12,300 seasonal staff during tax season; international revenue steady at ~8% of total net revenue
- Noteworthy fact: Introduction of GenOS enables seamless automation from insight to execution, partnered with leading AI firms for compliant, personalized financial actions
Management Discussion & Analysis
- Total revenue $21.4B, up 14% YoY; Global Business Solutions $12.9B (+16%), Consumer $8.6B (+11%)
- Operating income $5.9B, up 20% YoY; net income $4.6B, up 18%, operating margin approx. 27.4% vs 26.1% in fiscal 2025
- Best performing segment: Global Business Solutions operating income $9.9B (+17%), worst: Consumer operating income $6.3B (+10%)
- Cash flow from operations $8.8B, up 42% YoY; capital allocation includes $5.4B stock repurchases, $1.3B dividends, $221M capex, $315M restructuring charges
- Forward outlook: management expects continued investment in AI, technology, increased competition, regulatory risks, and aims to complete reorganization by Q1 FY 2027
Risk Factors
- EU Artificial Intelligence Act (2025) and U.S. state AI laws (CA, CO, UT) may increase costs and limit AI deployment, impacting innovation and compliance
- Exposure to geopolitical risks includes Russia-Ukraine war sanctions and conflicts in the Middle East affecting international operations and supply chain
- Dependence on key third-party partners and financial institutions, with sole or limited source relationships, risks business disruption and increased costs
- Competition intensified by large platforms deploying AI and free tax software offerings, including government programs like IRS Free File, threatening revenue
- Indebtedness with financial covenants and potential repurchase obligations on 2020 Notes may reduce liquidity and constrain strategic investments
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