Intuit Inc. (INTU)

Executive Summary

Intuit is the dominant small-business and consumer financial-software franchise in North America, and on May 21, 2026 the stock is down approximately 60 percent from its $813.70 high and roughly 20 percent in a single trading session. The selloff followed a fiscal Q3 print that beat consensus on both revenue and earnings, raised full-year guidance, and was accompanied by an announcement that the company will cut 17 percent of its workforce — over 3,000 employees — while lowering its TurboTax revenue forecast by roughly $25–50 million. The market read the combination as confirmation that generative AI is beginning to disintermediate guided tax and accounting software. We at T&T Capital Management read the same disclosures very differently.

What’s Inside The Full Report

• 15-year financial summary table — revenue, net income, GAAP & adjusted EPS
• Valuation framework — current multiples vs. 5-year historical range
• Peer comparison table — multiples, margins, balance-sheet metrics
• Base case, bull case, bear case price targets with explicit math
• Competitive position and economic moat analysis
• Management and capital allocation track record
• Balance sheet review — leverage, credit ratings, distribution coverage
• Insider activity — recent open-market buys / sells with interpretation
• Strategic acquisitions and divestitures history
• Sell-side consensus and where TTCM differs
• Detailed risk factors specific to the name
• Bull case and forward catalysts to watch
• TTCM rating with explicit ADD / TRIM price triggers