What were Intuit's main revenue drivers in fiscal year 2011?

Intuit's primary revenue drivers in fiscal year 2011 were its Small Business Group and Consumer Tax segments. The Small Business Group saw a 12% increase in revenue, attributed to growth in connected services and improved product mix. The Consumer Tax segment experienced a 13% increase, largely due to growth in TurboTax Online units.

How is Intuit positioned for future growth?

Intuit is pursuing growth through a three-point strategy: driving growth in its core businesses (QuickBooks, TurboTax, Quicken), building adjacent businesses and entering new geographies, and accelerating its transition to connected services. The company's significant investment in R&D and its focus on adapting products for Web and mobile platforms are key to its future growth.

What is Intuit's approach to returning capital to shareholders?

Intuit historically focused on stock repurchases to return capital. In August 2011, the company declared its first-ever cash dividend of $0.15 per share, signaling a shift towards a more balanced capital return strategy. The company also continued its substantial stock repurchase program, authorizing an additional $2 billion in repurchases.

What are the key risks Intuit faces?

Intuit faces several risks, including intense competition from both established companies and new entrants, the rapid pace of technological change requiring continuous innovation, potential business interruptions from IT system failures, and risks associated with handling and securing customer data. Additionally, the seasonality of its tax business can lead to significant quarterly fluctuations in revenue and profitability.

INTU 10-K FY2011 Annual Report — Revenue, Net Income, EPS

Summary

Intuit Inc. demonstrated robust financial performance in its fiscal year ended July 31, 2011, with total net revenue reaching $3.9 billion, an increase of 11% year-over-year, primarily driven by growth in its Small Business Group and Consumer Tax segments. The company's strategic shift towards connected services continues to yield positive results, with over 60% of revenue generated from these offerings. Significant investments in research and development, accounting for 16% of revenue, underscore Intuit's commitment to innovation and adapting to evolving market trends. The company is actively managing its capital through a strong stock repurchase program and, for the first time in its history, initiated a quarterly cash dividend. Intuit's diversified business portfolio, encompassing small business solutions, tax preparation, and financial services, positions it well for continued growth, although competitive pressures and the dynamic technological landscape remain key areas of focus.

Financial Highlights

57 data points

Beta

Revenue

$3.45B

1.0% Gross Margin

Net Income

$634.00M

0.2% Net Margin

EPS (Diluted)

$2.00

Total Assets

$5.11B

Cash & Equivalents

$722.00M

Free Cash Flow

$899.00M

Financial Statements

Beta

Revenue	$3.45B
Cost of Revenue	$143.00M
Gross Profit	$3.31B
R&D Expenses	$566.00M
Operating Expenses	$2.37B
Operating Income	$1.08B
Interest Expense	$60.00M
Net Income	$634.00M
EPS (Basic)	$2.06
EPS (Diluted)	$2.00
Shares Outstanding (Basic)	307.00M
Shares Outstanding (Diluted)	317.00M

Key Highlights

1Total net revenue grew by 11% to $3.9 billion in fiscal year 2011.
2The Small Business Group and Consumer Tax segments were the primary drivers of revenue growth.
3Connected services accounted for over 60% of total revenue, highlighting a successful transition to cloud-based offerings.
4Research and development expenses represented 16% of total net revenue, emphasizing investment in innovation.
5Intuit initiated its first quarterly cash dividend in August 2011, signaling a return of capital to shareholders.
6The company continued its aggressive stock repurchase program, demonstrating a commitment to enhancing shareholder value.

INTUIT INC. Annual Report, Year Ended Jul 31, 2011

Summary

Financial Highlights

Key Highlights

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