Intuit Inc.
INTU - NASDAQ - $399.02 ▲ +%2.71
-
Earnings Wed 20 May
Note: this preview was published before the 2026-05-20 earnings report. Results have since been released — verify against the latest filings.

Intuit opens the
books on Wednesday evening.

8 analysts' median target is $663[FMP target], stock is $399, +66.0% upside potential. After Q2 +12.8% EPS beat[FMP earnings], the stock moved +3.7%.

↓ summary below
Quick Take - in 40 seconds
A-
BUY Council 4/6 - Moonshot 54

A- = MoonshotScore 54[9-pillar formula] + Council 4/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].

Q4 consensus: revenue $8.5B[FMP est], EPS $12.48[FMP est]. 8 consecutive quarters of beat[FMP earnings].

Detailed analysis below ↓
$12.48 EPS Estimate Last year $2.75 - +7% YoY YoY
8 Beat Streak Expectations beaten consecutively for the last 8 quarters

Q2 EPS +12.8% beat[FMP] but the stock +3.7% D+1[FMP D+1]. Sandeep Aujla promised $46.0M CapEx + a sequential decline in Q4 during the Q2 earnings call[Sandeep Aujla capex transcript].

Watchlist

6 metrics stand out this quarter.

5 Investor Focus

Turbotax Revenue Growth

turbotax_revenue_growth

While overall IRS returns were down more than 5 points through February 6, we delivered 12% TurboTax revenue growth this quarter.

"While overall IRS returns were down more than 5 points through February 6, we delivered 12% TurboTax revenue growth this quarter."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026
50% Investor Focus

Quickbooks Live Growth

quickbooks_live_growth

Our AI and HI capabilities are not only automating tasks and workflows, but driving consumption and adoption of services like payroll and powering QuickBooks Live customer growth of over 50% in Q2.

"Our AI and HI capabilities are not only automating tasks and workflows, but driving consumption and adoption of services like payroll and powering QuickBooks Live customer growth of over 50% in Q2."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026
29% Investor Focus

Online Payments Growth

online_payments_growth

We saw total online payments volume for our payments and bill pay customers grow 29%, reflecting continued momentum in helping our customers get paid faster and better manage their cash flow.

"We saw total online payments volume for our payments and bill pay customers grow 29%, reflecting continued momentum in helping our customers get paid faster and better manage their cash flow."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026
17% Investor Focus

Q2 Revenue Growth

q2_revenue_growth

Intuit delivered an outstanding quarter with Q2 revenue growth of 17%, clear evidence our strategy is working.

"We delivered an outstanding quarter with Q2 revenue growth of 17%, clear evidence our strategy is working with strong execution across our 3 Big Bets."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026
40% Investor Focus

Mid Market Growth

mid_market_growth

In Q2, online ecosystem revenue for QBO Advanced and Intuit Enterprise Suite grew approximately 40%.

"In Q2, online ecosystem revenue for QBO Advanced and Intuit Enterprise Suite grew approximately 40%."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026
3 Investor Focus

Ai Agent Impact

ai_agent_impact

Intuit is seeing momentum with our virtual team of AI agents. Over 3 million customers have leveraged agents to do the work for them with all-time repeat engagement of more than 85%.

"We are continuing to see momentum with our virtual team of AI agents. Over 3 million customers have leveraged agents to do the work for them with all-time repeat engagement of more than 85%."

- Sasan Goodarzi, CEO - Q2 FY26 Earnings Call - February 26, 2026

Stock Expert AI - Methodology

Do our 9 pillars, 7 perspectives, and Munger lens point in the same direction?

MoonshotScore 54 / 100

9-pillar methodology. Gross Margin and Cash Runway strong. Revenue Growth weak.

How is it calculated? ->
Revenue Growth0.0Q2 vs Q3: growth negative (-40.0%, contraction)
Gross Margin8.0Q2: very high margin (78.9%, software/cloud territory)
Operating Leverage2.0op margin healthy (18.4%)
Cash Runway10.0FCF very strong ($1.5B, 33.1x CapEx)
R&D Intensity5.0high R&D intensity (15.8%, aggressive)
Price Momentum4.0RSI 48.6 balanced, 50d below
News Sentiment9.0strong buy consensus (85%)
Council Score 4 / 6 Bullish

6 investor frameworks. 4 bullish (Ray Dalio, Klarman, Buffett, Munger), 1 bearish (Ken Griffin), 1 neutral (Jim Simons).

How is it calculated? ->
Ray Dalio macro - target upside +66.0%
Ken Griffin flow - 50d MA below
Jim Simons quant - RSI 49
Klarman value - target upside +66.0%
Buffett quality - ROE score 5/5
Munger valuation - target upside +66.0%
Munger's Mindset character & balance sheet lens
Undervalued

Quality business, discounted price.

How is it calculated? ->
Financial HealthStrong
Margin of SafetyStrong
Interest CoverageAdequate
ROIC vs WACCHealthy
Technical Levels - Pre-earnings positioning

What levels is the stock being tested at?

RSI(14)
48.6 RSI 48.6 balanced, 50d below
MACD
-3.70 price below 50d - resistance dominant
50d MA
$414 stock 3.7% below - short-term resistance
200d MA
$589 stock 32.2% below - long-term pressure
Volume (10d)
-21% decrease - low participation
Resistance
$663
Analyst median target - upgrade trigger if broken
Current
$399
Pre-earnings position
Support
$500
Invalidation - close below this is a technical breakdown
Pattern
Range
$500-$663 band - earnings breakout/breakdown trigger

Past Performance

Intuit beat expectations in the last 8 quarters.

BEAT
Q3 FY25
$11.65 vs $10.93 est - +8.1%
BEAT
Q4 FY25
$2.75 vs $2.66 est - -5.0%
BEAT
Q1 FY26
$3.34 vs $3.09 est - +4.0%
BEAT
Q2 FY26
$4.15 vs $3.68 est - +3.7%

Q2 (February 26, 2026): EPS $4.15 vs $3.68 est[FMP], +12.8% beat. D+1 movement: +3.7%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.

Three scenarios: what could happen?

EPS < $12.11 (no guidance)

Q2: EPS $4.15 vs $3.68 beat[FMP], stock +3.7% D+1[FMP].

Backlog concentration

No RPO/backlog concentration disclosed in Q2 earnings call.

CapEx shock

Q2 CapEx $46.0M[FMP cashflow]. Q2 op margin 18.4%[FMP op margin] - this level in Q4 is sensitive to CapEx revision risk.

Framework - Position discipline

After the data arrives: 3 scenarios, 3 windows

Not advice - a structural framework for earnings night. Decision discipline is yours.

Scenario A - Beat
Q4 EPS > $12.48 + CapEx discipline
Threshold: EPS > $12.48[FMP est].
Target: Break above median target $663[FMP target]; high target $875[FMP] upper bound.
Scenario B - In-Line
EPS approx $12.48 + CapEx < $46.0M
Threshold: EPS approx $12.48[FMP est], Q4 CapEx < $46.0M[FMP].
Target: Consolidation in the band between current $399[FMP] and median $663[FMP].
Scenario C - Miss
EPS < $12.11 or CapEx >= $46.0M
Threshold: EPS < $12.11[FMP estx0.97].
Target: Current $399 below SMA200 $589[FMP], if rejection continues, $500[derived] support activates.
Sizing
Earnings volatility -> max portfolio 1-2%. Waiting for earnings is not a gamble, it's a position entrustment.
Timing
IV crush within 24 hours post-earnings. Waiting for premium decay makes options preferable to spot.
Staging
Don't go all-in at once, divide into 3: initial reaction, 24 hours later, after Friday's close.

Market Outlook

What do 8 analysts say?

Wall Street Consensus
$663
12-month median target price (+66.0% upside potential)
29
BUY
5
HOLD
0
SELL
Risk Management
$500
Invalidation level - critical support threshold
$414 - 50-day MA (below, -3.7%)
$589 - 200-day MA (below, -32.2%)
IV Crush risk (sudden drop in inflated option premiums before earnings): Option premiums are inflated before earnings.
Verdict - INTU Q4 FY26
A-

You read it in 5 minutes. When the numbers come out on Wednesday evening - you know what you're looking at.

Data arrives at night. The framework is ready now.

Data arrives on Wednesday evening. The framework is ready on this page: Q4 EPS threshold $12.48[FMP], CapEx threshold "below $46.0M"[Sandeep Aujla]. Two anchors, three scenarios.

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Try Pro free for 14 days INTU dossier ->

Educational tool, not investment advice. Past performance does not guarantee future results.

Calendar

Catalyst Calendar - 90-day forward look

May 20, 2026EARNINGSQ4 FY26 results (after market close) + earnings call
May 21, 2026PRICEFirst trading day after earnings - 200dMA test + IV crush
Jul 4, 2026FILING10-Q deadline - segment breakdown + RPO detail (SEC rule: quarter-end + 45 days)
~Aug 20, 2026EARNINGSQ1 FY27 (next quarter, date not yet scheduled in FMP)

DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.

Frequently Asked Questions

What does the INTU earnings preview cover?

This INTU (INTU) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.

What should investors watch for in INTU earnings?

Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.