This indirectly is a small-business segment as well, as it is the main target group of the professional accountants the company targets. ProConnect helps professional accountants in the US and Canada through tax offerings including Lacerte, ProSeries, and ProConnect Tax Online. serves consumers with a personal finance platform that provides personalized recommendations of credit card, home, auto and personal loan, and insurance products online savings and checking accounts through our partner, MVB Bank, Inc., member FDIC and access to their credit scores and reports, credit and identity monitoring, credit report dispute, and data-driven resources.
The company also has Mint, which helps people track their finances and daily financial behaviors.Ĭredit Karma and ProConnect accounted for a combined 14% of total sales. This segment includes do-it-yourself and assisted TurboTax income tax preparation products. Consumer accounted for 37% of total revenues. In FY2021, small business and self-employed customers accounted for 49% of total revenues. Together, Intuit and Mailchimp will work to deliver on the vision of an innovative, end-to-end customer growth platform for small and mid-market businesses, allowing them to get their business online, market their business, manage customer relationships, benefit from insights and analytics, get paid, access capital, pay employees, optimize cash flow, be organized and stay compliant, with experts at their fingertips. In this segment, the company operates its well-known product QuickBooks, financial and business management online services and desktop software, payroll solutions, and Mailchimp, which the company bought last year in a $12 billion deal: This includes accounting professionals who support them. With all of this in mind, Intuit is focused on small businesses and self-employed people. That has grown to more than 100 million customers thanks to both organic and acquired growth. In 1990, the company had 1.3 million customers.
Located in Mountain View, California, Intuit is officially a member of the technology sector that sector is home to the software application industry.įounded in 1983, Intuit is thriving based on the simple idea that it can make business and related processes much easier. With a market cap of $134 billion, this company has become one of the largest disruptors in its industry. Intuit excels at that like (almost) no other company. These markets are often highly fragmented, which means disruption can lead to market share gains and market penetration. I am, however, constantly looking for companies that do well in competitive markets. The same goes for technology and healthcare - among a few others.
Almost all of my industrial exposure is invested that way. In my portfolio, I own a lot of companies operating in industries with high entry barriers. With that said, let's dive into it! Deep Market Penetration & Disruption. Moreover, if economic damage remains limited, it's even a win for the company as it offers tools for companies to mitigate issues like high inflation. After all, I believe that INTU is a stock that investors need to buy as soon as a discount opportunity presents itself. As bad as that may be for mid-term growth expectations in case of mass bankruptcies, it's great for investors hoping to buy this high-growth company at a decent price. The problem is that the company's main target group, small businesses, is in a terrible spot given economic developments. In this article, I will reiterate that call while highlighting the need for low volatility, dividend growth, and its upcoming earnings in light of ongoing macro developments. ( NASDAQ: INTU) on my watchlist was the result of my focus on high-quality dividend growth and low-volatility investments. In March of this year, I wrote an article titled "Intuit Stock: Why It's Low Yield Isn't A Turnoff".