In 2020, Intuit acquired Credit Karma for $3.4 billion in cash and 13.3 million shares of stock.
TurboTax is Intuit's easy tax filing solution which complements QuickBooks. Note: I completed my google search in "Incognito mode" to avoid any bias, as I had visited Intuits website previously.īest Digital Accounting Software (Author Google Search)īest Digital Accounting Software (Review Website) In addition, they are ranked number one on multiple review websites.
Management's strategy is to gradually convert its desktop users to the cloud offering, but usually it's the larger customers which are slower to switch.Īs an extra data point, I did a search on Google for "Best Digital Accounting Software" and saw QuickBooks has paid for the top search result. The different QuickBooks versions include: QuickBooks Online (44% market share), QuickBooks Desktop (15%), and QuickBooks Self Employed (17%). This is the market leading Digital Accounting Software in the US and Canada, with a 76% market share in the USA, split across the multiple versions of the software suite. QuickBooks is Intuits flagship digital accounting product. Intuit Software Products (Official Website) Managements mission is to help solve its small business customer problems, which include everything from "Getting Customers" to tracking accounting and filing tax returns. Intuit offers a suite of financial software products which include: QuickBooks, TurboTax, Credit Karma, Mint and now Mailchimp which was recently acquired. Thus, let's dive into the Business Model, Financials and Valuation for the juicy details. Intuit stock is still undervalued intrinsically and relative to historic multiples, despite the gap between price and value closing slightly.
The high inflation numbers released in the fourth quarter of 2021 and the subsequent interest hikes, acted as one catalyst for the stock price to plummet by ~47%.Since then the stock has made gains of ~20% (since my last post), but is still down substantially from its highs. Intuit's share price went on a tremendous bull in 2020 and increased by over 200% from the March lows till the December highs. By the 1990s, the company had 1.3 million customers and today they have over 100 million customers. The company was founded in 1983 in Mountain View, California and rode the wave in digital accounting. Intuit ( NASDAQ: INTU) is a leading financial software provider, which focuses on helping small businesses.
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