CSIMarket


Intuit Inc  (INTU)
Other Ticker:  
 
    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology

Intuit Inc's

Competitiveness


 

INTU Sales vs. its Competitors Q3 2021



Comparing the results to its competitors, Intuit Inc reported Total Revenue increase in the 3 quarter 2021 by 51.7 % year on year.
The sales growth was above Intuit Inc's competitors average revenue growth of 29.75 %, recorded in the same quarter.

List of INTU Competitors

With net margin of 11.36 % company reported lower profitability than its competitors.

More on INTU Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Intuit Inc Net Income in the 3 quarter 2021 grew year on year by 15.15 %, slower than its competitors income growth of 56.36 %

<<  More on INTU Income 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 Q3 2021

Due to outstanding performance in Overall company, revenue grew by 51.7 % Intuit Inc improved its market share, to approximate 3.22 %.





<<  More on INTU Market Share.
 

*Market share calculated with total revenue.


INTU's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Intuit Inc 10,317 188,053 2,092 8,000
Automatic Data Processing Inc 15,367 99,402 2,697 55,000
Paychex Inc 4,208 44,552 1,220 13,000
Robert Half International Inc 5,995 12,645 525 14,000
Deluxe Corporation 1,906 1,533 74 5,328
First Data Corp 9,569 30,771 1,213 0
H and r Block Inc 1,278 4,291 -517 2,200
Microsoft Corporation 176,251 2,551,290 67,883 118,000
Adobe Inc 15,099 333,266 6,001 12,499
Nortonlifelock Inc 2,689 14,769 886 0
Ca, Inc. 4,235 17,509 476 11,600
Equifax Inc 4,789 35,094 716 7,500
Ifan Financial, Inc. 0 0 0 1
Corvel Corporation 597 3,366 59 3,508
Amerisafe Inc 326 1,057 91 449
Employers Holdings Inc 694 1,124 129 716
Lans Holdings, Inc. 0 0 0 2
Aci Worldwide Inc 1,291 3,595 85 3,979
Asure Software Inc 71 165 2 324
Benefitfocus Inc 264 339 -32 1,450
Isign Solutions Inc 1 0 0 0
Commvault Systems Inc 741 3,065 24 2,839
Bottomline Technologies Inc 483 1,990 -22 1,600
Paycom Software Inc 991 25,478 172 2,548
Paylocity Holding Corporation 682 14,482 89 2,115
Ultimate Software Group Inc 1,199 10,650 57 4,208
Blucora Inc 862 840 -197 487
Net Element Inc 93 78 -3 97
SUBTOTAL 259,999 3,399,404 83,719 271,450


       
Economy


Advance Monthly Sales

Consumer Price Index CPI

Producer Price Index PPI

Retail Inventories

Personal Income

Gross Domestic Product GDP

Money Supply

Industrial Production

Productivity

Employment Situation

US International Trade

Factory Orders

Durable Goods

Construction Spending

Housing Starts

Vehicle Unit Sales

Stocks


Event Calendar

IWBB's Profile

Stock Price

IWBB's Financials

Business Description

Fundamentals

Charts & Quotes

IWBB's News

Suppliers

IWBB's Competitors

Customers & Markets

Economic Indicators

IWBB's Growth

Company Segments

Screening


Stock Performance

Growth Rates

Profitability

Valuation

Dividend

Financial Strength

Efficiency

Largest Companies

Management Effectivness

Industries


At a Glance

Performance

Growth Rates

Profitability

Valuation

Financial Strength

Markets


At a Glance

Stocks

Cryptocurrencies

Sectors & Industries

Commodities

Currencies

Help


Sitemap

Advertise

About us

Glossary


Financial Terms

Technical Analysis

Fundamental Analysis

Energy Terms

Manufacturing Terms

Transportation Terms

Health Care

Insurance Terms

Economy Terms

Hotel & Leisure Terms

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research.    Copyright © 2021 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com
CSIMarket.com 1500 N. University Drive, Coral Springs, FL 33071