Research · Sep 3, 2026
Intuit FY2025 (Jul 2025) revenue ~$17.5B (+12% YoY) with adj. operating margin expanding to 39% on integrated platform thesis. QuickBooks ecosystem (Small Business segment ~$10B at 38% margin) is largest revenue + growth contributor. TurboTax Consumer segment (~$4.7B at 63% margin) faces strategic disruption from IRS Direct File expanding to 25 states FY2025. Credit Karma recovering from FY2023-24 lending volume compression. Intuit Assist GenAI integrated across products driving multi-product attach. FY2026 thesis: QuickBooks ecosystem sustains 12-15% growth on multi-product attach (Payments + Payroll + Mailchimp + Capital); Credit Karma normalizes; TurboTax defense via TurboTax Live (expert-assisted tier) vs IRS Direct File expansion; key risk: IRS Direct File scope expansion captures TurboTax low-tier share + state coverage matters.
Research · Aug 26, 2026
Intuit's 2026-08-25 call gave the first mid-market-only usage rate for its AI agents: over 75% of Intuit Enterprise Suite customers use them monthly, with no revenue attributed.
Research · Apr 23, 2026
Legacy enterprise tech like Oracle and IBM scale AI cloud to 15-22% of revenue, beating estimates by 18%, yet trade at 2-3x lower multiples than pure-plays. Cisco's 52-week high underscores the theme amid spiking coverage. Long ORCL/IBM/CRM relative to index targets 10-15% over 6 months, breaks on sub-15% AI growth in Q1 FY2027.
Research · Apr 10, 2026
A UK study flags AI risks to high-paid jobs and taxes, spotlighting enterprise AI winners like MSFT and GOOGL automating professional roles. We rank six leaders by exposure and valuation, with Microsoft topping conviction amid Copilot's explosive growth.
Research · Apr 10, 2026
A UK study warns AI threatens high-paid jobs and tax revenue, spotlighting productivity opportunities for enterprise AI leaders. Microsoft, Salesforce, Adobe, Intuit, IBM, and Alphabet are automating professional roles with agents like Copilot and Firefly, backed by strong growth and margins. Ranked by conviction, MSFT and ADBE top the list amid accelerating adoption.
