Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Intuit Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Intuit Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-K (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31).
The analyzed financial data reveals notable trends and fluctuations in the company's asset composition and liquidity over the covered periods.
- Cash and Cash Equivalents
- There is significant volatility observed in cash and cash equivalents, with a peak in July 2020 at 6,442 million USD, followed by a general decline until early 2024 before rising again sharply by October 2024. This pattern suggests active cash management possibly corresponding to operational or investment activities.
- Investments
- Investments show moderate fluctuations, with peaks around mid-2021 and a sharp drop in early 2024, followed by a recovery later in 2024. The values suggest periodic reallocations or maturities influencing the investment portfolio.
- Accounts Receivable, Net
- Accounts receivable fluctuate considerably without a clear growth trend, with notable peaks in early 2022 and mid-2024. This volatility may reflect variability in sales cycles or credit policies.
- Notes Receivable Held for Investment, Net
- Data is available from October 2022 onward, showing an increasing trend peaking around April 2025. This indicates a growing portfolio of notes receivable held for investment purposes, suggesting diversification of asset types.
- Notes Receivable Held for Sale
- The figures remain relatively low but show a marked increase in late 2024, indicating increased activity in notes receivable intended for sale, possibly reflecting a strategic shift or opportunistic sales.
- Income Taxes Receivable
- Income taxes receivable fluctuate substantially from period to period, with no steady trend, indicating irregular tax timing or settlements impacting the short-term receivables.
- Prepaid Expenses and Other Current Assets
- This category generally trends upward from 2018 through early 2025, with some oscillations, reflecting growing advance payments or accrued assets associated with expanding operations.
- Current Assets Before Funds Receivable and Amounts Held for Customers
- Current assets excluding funds kept for customers have an increasing trajectory, peaking notably in mid-2020 and again in 2024, indicative of strengthening liquidity and working capital resources.
- Funds Receivable and Amounts Held for Customers
- This item demonstrates significant growth, particularly dropping after early 2021 but surging from late 2023 into 2025, reaching over 5,600 million USD. This reflects expanded fiduciary or customer-related balances, which contribute substantially to total current assets.
- Current Assets
- Overall current assets consistently increase over time, with some periodic declines but substantial growth apparent by early 2025. This suggests enhanced liquidity and capability to meet short-term obligations.
- Long-Term Investments
- Long-term investments show a gradual increase until early 2023, followed by stabilization and marginal decreases thereafter, indicating a steady position with minor portfolio adjustments.
- Property and Equipment, Net
- Net property and equipment values exhibit a slow but steady increase across the timeline, suggesting ongoing capital investment and asset base growth.
- Operating Lease Right-of-Use Assets
- These assets appear starting mid-2019, peaking around mid-2024, then demonstrating slight decreases, reflecting evolving lease commitments and possible renegotiations or lease expirations.
- Goodwill
- Goodwill records a substantial increase in early 2021 and remains relatively stable thereafter, indicating large acquisitions occurring during the end of 2020 or start of 2021, with consistent valuation thereafter.
- Acquired Intangible Assets, Net
- Intangible assets linked to acquisitions spike sharply in early 2021 and then gradually decrease over the following years, reflecting amortization or impairment of these assets over time.
- Long-Term Deferred Income Tax Assets
- There is a strong upward trajectory beginning in early 2022, indicating increased deferred tax assets possibly related to temporary differences or tax strategy adjustments.
- Other Assets
- Other assets demonstrate a slow and steady upward movement, suggesting incremental growth in miscellaneous asset categories.
- Long-Term Assets
- The total long-term assets experienced a sharp increase in early 2021, reflective of major acquisitions or asset revaluations, followed by stability with slight growth toward 2025.
- Total Assets
- Total assets show a marked increase at the beginning of 2021 correlating with goodwill and intangible asset spikes, followed by continued growth with some fluctuations through 2025. This overall increase indicates expansion in the company's asset base, driven by both acquisitions and organic growth.
In summary, the observed financial patterns indicate a period of accelerated growth and acquisition in late 2020 and early 2021, accompanied by increasing liquidity and asset diversification. The consistent rise in current assets and notes receivable held for investment suggests strengthening operational capabilities and investment activities. Meanwhile, the expansion in goodwill and intangible assets reflects strategic acquisitions, contributing to substantial asset base augmentation. The fluctuations in cash and cash equivalents and investments point to active treasury and portfolio management aligning with evolving business needs.