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Intuit Inc   (INTU)
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    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology

Intuit Inc 's

Competitiveness


 

INTU Sales vs. its Competitors Q4 2023



Comparing the current results to its competitors, Intuit Inc reported Revenue increase in the 4 quarter 2023 by 11.34 % year on year.
The sales growth was above Intuit Inc 's competitors' average revenue growth of 7.04 %, achieved in the same quarter.

List of INTU Competitors

With a net margin of 10.43 % Intuit Inc achieved higher profitability than its competitors.

More on INTU Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Intuit Inc Net Income in the 4 quarter 2023 grew year on year by 110.12%, faster than the Intuit Inc 's competitors average income growth of 27.63 %

<<  INTU Stock Performance Comparisons


Intuit Inc 's Comment on Competitors and Industry Peers


We face intense competition in all of our businesses, both domestically and internationally. Competitive interest and expertise in many of the markets we serve have grown markedly over the past few years and we expect this trend to continue. Some of our existing competitors have significantly greater financial, technical, and marketing resources than we do. In addition, the competitive landscape can shift rapidly as new companies enter markets in which we compete. This is particularly true for online and mobile products and services, where the barriers to entry are lower than they are for desktop software products and services. To attract customers, many online and mobile competitors are offering free or low-priced entry-level products which we must take into account in our pricing strategies.

Our most obvious competition comes from other companies that offer technology solutions similar to ours. However, for many of our products and services, other important competitive alternatives for customers are third party service providers such as professional accountants and seasonal assisted tax preparation businesses. Manual tools and processes, or general-purpose software, are also important competitive alternatives.

Competition Specific to Segments

Small Business Segment. Our QuickBooks desktop product is the leading small business financial management software in the U.S. retail channel. Our small business products and services face competitive challenges from companies such as The Sage Group plc, which offers software and associated services that directly target small business customers. Increasingly, our small business products and services also face competition from newer online accounting offerings from companies such as Xero, free or low-cost online accounting offerings, and free online banking and bill payment services offered by financial institutions and others. In our payroll business we compete directly with Automatic Data Processing, Inc. (ADP), Paychex, and many other companies with payroll offerings, including online payroll offerings. In our merchant services business we compete directly with large financial institutions such as Wells Fargo, JP Morgan Chase, and Bank of America and with many payment processors, including First Data Corporation, Elavon, Global Payments, FIS-Certegy, PayPal, and Square.

Consumer Segment. In our Consumer Tax business, our future growth depends on our ability to attract new customers to the self-preparation tax category from tax stores and other seasonal assisted tax preparers. In the private sector we face intense competition from H&R Block, which provides assisted tax preparation services in its stores and a competing software offering called H&R Block At Home. We also face competition from several other large assisted tax preparation service providers, from a myriad of small seasonal tax preparers, and from numerous online self-preparation offerings, including 2nd Story Software’s TaxACT. These competing offerings subject us to significant price pressure.

We also face competitive challenges in our Consumer Tax business from publicly funded government entities that offer electronic tax preparation and filing services at no cost to individual taxpayers. We are a member of the Free File Alliance, a consortium of private sector companies that has entered into an agreement with the federal government. Under this agreement, the member companies provide online federal tax preparation and filing services at no cost to eligible federal taxpayers, and the federal government has agreed not to provide a competing service. Approximately 23 states have also adopted Free File Alliance public-private agreements while approximately 19 other states offer some form of direct government tax preparation and filing services free to qualified taxpayers. We continue to actively work with others in the private and public sectors to advance the goals of the Free File Alliance policy initiative and to support successful public-private partnerships. However, future administrative, regulatory, or legislative activity in this area could harm our Consumer Tax business.

In our Consumer Ecosytem business, we face competition from newer online and mobile personal finance offerings as well as from traditional financial institutions. Some of these newer competitors are solving specific consumer tasks, such as budgeting and credit scores, while online and mobile-only banks are offering alternatives to traditional banking. Traditional financial institutions continue to offer bill payment and personal finance solutions.

Professional Tax Segment. Our Lacerte professional tax offerings face competition from competitively-priced tax and accounting solutions that include integration with non-tax functionality. These include CCH’s ProSystems fx Office Suite and Thomson Reuters’ CS Professional Suite and GoSystems Tax. Our ProSeries professional tax offerings face competition from CCH’s ATX and TaxWise offerings. We also face growing competition from online tax and accounting offerings, which may be marketed more effectively or have lower pricing than our offerings for accounting professionals.

Competitive Factors

We believe the most important competitive factors for our core offerings – QuickBooks, TurboTax, Lacerte, ProSeries, and Quicken – are ease of use, product features, size of the installed customer base, brand name recognition, value proposition, cost, reliability, and product and support quality. Access to distribution channels is also important for our QuickBooks, TurboTax, and Quicken software products. In addition, support from accounting professionals and the ability for customers to upgrade within product families as their businesses grow are significant competitive factors for our QuickBooks products. Productivity is an important competitive factor for the full-service accounting firms to which we market our Lacerte software products. We believe we compete effectively on these factors as our QuickBooks, TurboTax, and Quicken products are the leading products in the U.S. retail sales channel for their respective categories.

For our service offerings such as small business payroll and merchant payment processing, we believe the most important competitive factors are functionality, ease of use, high availability, the integration of these products with related software, brand name recognition, effective distribution, quality of support, and cost.





  

Overall company Market Share Q4 2023

Company's competitiveness improved within Overall company, with revenue growth of 11.34 % and its market share increased to approx. 17.91 %.
<<  More on INTU Market Share.
 
*Market share is calculated based on total revenue.

  News about Intuit Inc Contracts

Intuit's Atlanta Office Strengthens Innovation Hub and Fuels Impressive Financial Growth

Intuit, the prominent financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has recently unveiled its new Atlanta office. Serving as an innovation hub for the company and the new headquarters for Mailchimp, this space accommodates Intuit's growing workforce and provides ample room for future expansion. Alongside this milestone, Intuit has also reported impressive financial results, outperforming its competitors in terms of revenue growth, profitability, and market share.Innovation Hub and Home to Mailchimp:Situated in the Old Fourth Ward's New City Properties Fourth Ward development, Intuit's new Atlanta office represents a critical step towards nurturing innovation within t...

Intuit QuickBooks: Revolutionizing Financial Technology for Accountants and Igniting Small Business Growth

Intuit QuickBooks Revolutionizes Financial Technology for Accountants and Small Businesses, Achieving Impressive Revenue Growth
Intuit QuickBooks, the leading global financial technology platform, has once again showcased its commitment to serving the accounting community and driving small business growth with a wide range of new innovations. At its 10th QuickBooks Connect conference in Las Vegas, attended by over 2,500 bookkeepers and accounting professionals, Intuit unveiled its latest product offerings that are set to transform the industry.
With its flagship products such as Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp, Intuit is at the forefront of providing comprehensive financial ...





Who are Intuit Inc 's Competitors?




Avidxchange Holdings Inc
Share Performance



+23.38%
This Quarter



Avidxchange Holdings Inc
Profile

is a leading provider of accounts payable ("AP") automation software and payment solutions for middle market businesses and their suppliers

More about Avidxchange Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,468.802 mill. $ 362.831 mill. $ -67.881 mill.


Deluxe Corporation
Share Performance



-3.85%
30 Days



Deluxe Corporation
Profile

Deluxe Corporation operates as a trusted provider of various business services and products, primarily focusing on check printing and related financial services catering to small businesses, financial institutions, and individual consumers. They aim to enhance the growth and success of their clients by offering customized solutions and innovative tools for marketing, payments, and other essential business operations.

More about Deluxe Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 851.778 mill. $ 2,192.260 mill. $ 26.227 mill.


Aci Worldwide Inc
Share Performance



+18.99%
One Year



Aci Worldwide Inc
Profile

ACI Worldwide Inc is a software solutions provider that offers a comprehensive suite of electronic payment and banking solutions to financial institutions, retailers, and other organizations.

More about Aci Worldwide Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,379.102 mill. $ 1,427.821 mill. $ 89.121 mill.


Bottomline Technologies Inc
Share Performance



+0.78%
Over The Past 5 Days



Bottomline Technologies Inc
Profile

Bottomline Technologies Inc's business model revolves around providing software solutions and payment processing services to businesses.

More about Bottomline Technologies Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,437.918 mill. $ 506.357 mill. $ -36.360 mill.


H and r Block Inc
Share Performance



+6.53%
Over The Past 5 Days



H and r Block Inc
Profile

H&R Block Inc operates on a business model where they offer tax preparation services and products to individuals and small businesses. They generate revenue by charging fees for assisting customers in completing their tax returns accurately and according to relevant regulations. Additionally, they offer financial products such as refund anticipation loans and tax refund-related insurance services to further monetize their customer base.

More about H and r Block Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 7,008.094 mill. $ 3,488.678 mill. $ 592.463 mill.


Adobe Inc
Share Performance



-8.52%
This Quarter



Adobe Inc
Profile

Adobe Inc's business model revolves around providing software and services for digital media creation, marketing, and document management. Their products include popular applications like Photoshop, Illustrator, and Acrobat, which are used by professionals and individuals alike. Additionally, Adobe offers cloud-based solutions, such as Creative Cloud and Document Cloud, allowing users to access their tools and collaborate seamlessly across multiple devices. The company generates revenue through licensing subscription-based software, as well as through enterprise solutions, advertising, and document services.

More about Adobe Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 257,384.555 mill. $ 19,409.000 mill. $ 5,428.000 mill.


Automatic Data Processing Inc
Share Performance



+9.43%
This Quarter



Automatic Data Processing Inc
Profile

Automatic Data Processing Inc's business model revolves around providing human capital management solutions to businesses of all sizes. They offer a wide range of services, including payroll processing, HR solutions, talent management, benefits administration, time and attendance, and tax compliance. ADP focuses on leveraging technology and data analytics to streamline and automate these processes, helping businesses optimize their workforce and reduce administrative burden.

More about Automatic Data Processing Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 104,589.375 mill. $ 18,586.000 mill. $ 3,557.700 mill.


Amerisafe Inc
Share Performance



+7.33%
30 Days



Amerisafe Inc
Profile

Amerisafe Inc is a specialized insurance provider primarily focused on workers' compensation coverage for high-hazard industries. They prioritize risk management strategies to reduce workplace injuries and help employers maintain a safe working environment. The company operates on a direct-to-policyholder model, offering its insurance products and services directly to businesses through a dedicated team of underwriters and claims specialists.

More about Amerisafe Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 998.665 mill. $ 306.498 mill. $ 63.705 mill.


Asure Software Inc
Share Performance



+15.52%
30 Days



Asure Software Inc
Profile

Asure Software Inc's business model focuses on providing software solutions and services to help organizations manage their workforce, workspace, and workplace.

More about Asure Software Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 232.010 mill. $ 121.654 mill. $ -6.688 mill.


Avantax Inc
Share Performance



0.00%
This Year



Avantax Inc
Profile

Avantax Inc's business model revolves around providing financial services and solutions to individuals and businesses. They offer comprehensive financial planning, investment management, tax planning and preparation, and various other financial services.

More about Avantax Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 959.577 mill. $ 309.635 mill. $ 380.748 mill.


Bill Holdings Inc
Share Performance



-24.88%
One Year



Bill Holdings Inc
Profile

is a leading provider of cloud-based software that simplifies, digitizes, and automates financial operations for small and mid-size businesses

More about Bill Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 6,767.905 mill. $ 1,190.638 mill. $ -115.291 mill.


Benefitfocus Inc
Share Performance



+74.42%
This Quarter



Benefitfocus Inc
Profile

Benefitfocus Inc is a technology company that provides cloud-based software solutions for managing employee benefits and insurance.

More about Benefitfocus Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 359.934 mill. $ 249.106 mill. $ -18.422 mill.


Ceridian Hcm Holding Inc
Share Performance



+7.62%
This Quarter



Ceridian Hcm Holding Inc
Profile

is a global human capital management software company

More about Ceridian Hcm Holding Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 10,823.827 mill. $ 1,450.100 mill. $ 4.000 mill.


Corvel Corporation
Share Performance



-0.42%
Over The Past 5 Days



Corvel Corporation
Profile

Corvel Corporation's business model revolves around providing comprehensive risk management solutions and services to various industries.

More about Corvel Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 4,323.664 mill. $ 749.959 mill. $ 74.721 mill.


Commvault Systems Inc
Share Performance



+24.06%
This Year



Commvault Systems Inc
Profile

Commvault Systems Inc operates as a software company that provides data management solutions to businesses. It offers a comprehensive range of services including data backup, recovery, and storage management, enabling organizations to efficiently manage and protect their valuable data assets.

More about Commvault Systems Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 4,277.857 mill. $ 818.519 mill. $ -0.707 mill.


Equifax inc
Share Performance



+2.87%
Over The Past 5 Days



Equifax inc
Profile

Equifax Inc operates as a credit reporting agency, offering products and services that enable financial institutions and businesses to assess the creditworthiness of individuals and companies. They collect and analyze vast amounts of consumer and business data to generate credit reports, scores, and other financial information, which they sell to banks, lenders, and other businesses for risk assessment and decision-making purposes. Equifax also provides identity verification and fraud detection solutions to prevent identity theft and cybercrime.

More about Equifax inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 32,872.915 mill. $ 5,265.200 mill. $ 551.700 mill.


Employers Holdings Inc
Share Performance



+23.86%
This Quarter



Employers Holdings Inc
Profile

Employers Holdings Inc is a company that offers workers' compensation insurance solutions to businesses.

More about Employers Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 1,201.926 mill. $ 847.000 mill. $ 119.700 mill.


Isign Solutions Inc
Share Performance



0.00%
Over The Past 5 Days



Isign Solutions Inc
Profile

Isign Solutions Inc operates on a B2B business model that focuses on providing digital signature solutions to corporate clients. The company offers a secure and user-friendly platform that allows organizations to streamline their document signing processes electronically. By eliminating the need for physical signatures, Isign Solutions Inc aims to enhance efficiency, reduce costs, and enhance data security for its clients.

More about Isign Solutions Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ - mill. $ 0.910 mill. $ -0.890 mill.


Microsoft Corporation
Share Performance



+7.97%
This Quarter



Microsoft Corporation
Profile

Microsoft Corporation operates as a multinational technology company that primarily focuses on software development, licensing, and related services. Their business model involves the creation and distribution of a wide range of software products, including operating systems, productivity suites, and cloud-based solutions. Additionally, they generate revenue through hardware sales, such as gaming consoles and devices, as well as through advertising and consulting services.

More about Microsoft Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,041,063.480 mill. $ 218,310.000 mill. $ 77,096.000 mill.


Paycom Software Inc
Share Performance



-1.29%
This Quarter



Paycom Software Inc
Profile

Paycom Software Inc's business model revolves around providing cloud-based human capital management (HCM) software solutions to businesses. These solutions encompass various aspects of HR management, including payroll processing, talent acquisition, talent management, time and attendance tracking, and employee self-service. Paycom's software is designed to streamline and automate HR processes, fostering efficiency and accuracy for its clients.

More about Paycom Software Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 10,438.517 mill. $ 1,629.687 mill. $ 338.982 mill.


Paychex Inc
Share Performance



+3.87%
This Quarter



Paychex Inc
Profile

Paychex Inc is a company that provides payroll and human resources services to businesses of all sizes.

More about Paychex Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 44,672.277 mill. $ 5,154.500 mill. $ 1,629.700 mill.


Paylocity Holding Corporation
Share Performance



+7.71%
30 Days



Paylocity Holding Corporation
Profile

Paylocity Holding Corporation operates as a cloud-based payroll and human capital management software company. They provide a comprehensive suite of solutions to streamline and automate payroll processing, HR administration, and talent management for businesses of all sizes. Their business model focuses on offering subscription-based software services and related support to clients, ensuring efficient and accurate management of their workforce processes.

More about Paylocity Holding Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 9,710.265 mill. $ 1,292.257 mill. $ 167.503 mill.


Paycor Hcm Inc
Share Performance



+0.48%
This Year



Paycor Hcm Inc
Profile

is a leading Software-as-a-Service provider of human capital management solutions for small and medium-sized businesses

More about Paycor Hcm Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,746.672 mill. $ 604.654 mill. $ -83.545 mill.


Robert Half Inc
Share Performance



-0.75%
30 Days



Robert Half Inc
Profile

Robert Half International Inc is a global staffing and consulting firm that provides companies with professional staffing services, including temporary, full-time, and project-based staffing solutions in various industries.

More about Robert Half Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 8,532.339 mill. $ 6,392.004 mill. $ 411.146 mill.



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