Intuit Inc. (INTU): BCG Matrix [Dec-2025 Updated]

You're looking for the hard truth on Intuit Inc.'s portfolio as of late 2025, and frankly, the picture shows a company successfully pivoting its growth engine while managing some legacy drag. We see QuickBooks Online Ecosystem and Credit Karma firing on all cylinders, posting 20% and 32% revenue jumps, clearly earning their Star status. Meanwhile, the massive TurboTax machine remains a reliable Cash Cow, banking on its 60% market share, but we have to watch QuickBooks Desktop units dropping 4% and the Mailchimp acquisition looking like a true Question Mark right now-its performance is certainly defintely concerning. Dive in to see exactly where Intuit needs to invest or divest next.

Background of Intuit Inc. (INTU)

You're looking at Intuit Inc. (INTU) as of late 2025, so we need to ground this in the just-closed fiscal year 2025 results, which ended July 31, 2025. Intuit Inc. delivered an exceptional year, reporting total revenue of $18.8 billion, marking a solid 16 percent increase year-over-year. This performance reflects strong execution across its core financial technology offerings.

The company's business is primarily structured around its segments, though a reorganization is set for fiscal 2026 where the Consumer, Credit Karma, and ProTax groups will merge into one Consumer business. For fiscal 2025, the Global Business Solutions Group (GBS), which houses QuickBooks, was a major driver, bringing in $11.1 billion in revenue, also up 16 percent. Within GBS, the subscription-based Online Ecosystem revenue, which is key to their recurring model, grew 20 percent to reach $8.3 billion.

The Consumer Group, centered on TurboTax, saw its revenue grow 10 percent to $4.9 billion for the year. Honestly, the standout performer in terms of growth rate was TurboTax Live, which saw its revenue skyrocket by 47 percent, showing the successful push into assisted services. Credit Karma also had a banner year, with revenue surging 32 percent to $2.3 billion, indicating a strong rebound and successful integration.

On the profitability front, Intuit Inc. showed improved operational leverage; total operating expenses as a percentage of revenue dropped from 56 percent in 2024 to 53 percent in 2025. This efficiency helped GAAP operating income jump 36 percent to $4.9 billion, and GAAP diluted earnings per share finished at $13.67, up 31 percent from the prior year. That's defintely the kind of bottom-line leverage we like to see.

The ProTax Group, serving professional accountants, saw more modest growth at 4 percent, generating $621 million in revenue for the year. As of July 31, 2025, Intuit Inc. maintained a strong balance sheet with approximately $4.6 billion in cash and investments, set against $6.0 billion in total debt. The strategic focus remains heavily on AI integration and expanding its mid-market presence within the QuickBooks ecosystem.

Intuit Inc. (INTU) - BCG Matrix: Stars

You're looking at the engines driving Intuit Inc.'s current market dominance and future trajectory, which the Boston Consulting Group Matrix categorizes as Stars. These are the segments operating in high-growth markets while simultaneously commanding a leading market share. They consume significant cash to maintain that growth pace, but the investment is necessary to secure their future as Cash Cows.

The QuickBooks Online Ecosystem is a prime example of a Star. For fiscal year 2025, its revenue grew by a strong 20%, hitting $8.3 billion. This performance reflects sustained demand for cloud-based accounting and services. This segment is defintely where Intuit Inc. is pouring resources to cement its leadership position against emerging competitors.

The push into the larger customer base is showing explosive results. Mid-market expansion, specifically within the QBO Advanced and Intuit Enterprise Suite offerings, is accelerating rapidly. We saw a 40% growth rate for this mid-market ecosystem revenue in the first quarter of fiscal 2026. This indicates a successful strategy to move customers up the value chain to higher-tier, AI-native ERP platforms.

Here is a quick look at the financial scale and growth of these high-potential Stars for fiscal year 2025, based on reported figures:

The Consumer side also features a clear Star in the assisted tax category. TurboTax Live revenue surged by 47% in fiscal year 2025. This product is capturing high-growth market share by blending AI with human expertise, a strategy that is clearly resonating with the tax-filing public.

Furthermore, the consumer finance arm continues to perform exceptionally well, signaling strong market adoption and effective cross-platform integration:

• Credit Karma revenue reached $2.3 billion in fiscal year 2025.
• Credit Karma delivered 32% revenue growth for the same period.
• TurboTax Live customers grew by 24% in fiscal year 2025.

Finance: Model the cash flow impact of maintaining a 40% growth rate in the mid-market segment through Q2 2026 by Friday.

Intuit Inc. (INTU) - BCG Matrix: Cash Cows

The Cash Cow quadrant in the Boston Consulting Group Matrix represents Intuit Inc.'s established, market-leading products operating in mature markets, which generate more cash than they consume. For Intuit Inc., the core of this positioning rests with its flagship tax preparation offering.

TurboTax is the clear incumbent here, holding a dominant 60% market share in the U.S. tax software market, according to a 2025 survey by Citi. This high market share in a relatively mature category means the product requires lower incremental investment for market defense compared to a 'Star' product, allowing it to function as a significant source of corporate funding.

The overall performance of the segment housing this product underscores its role. The Consumer Group, which includes TurboTax, generated $4.9 billion in revenue for fiscal year 2025, marking a 10% growth rate for the year. While the overall segment growth is steady, the core do-it-yourself filing component is the engine that consistently converts high market share into reliable cash flow.

To illustrate the financial strength derived from these established offerings, consider the context of Intuit Inc.'s overall financial health as of the end of fiscal year 2025:

The core TurboTax product provides a highly profitable, recurring seasonal revenue stream. This cash is vital for the entire Intuit Inc. ecosystem. For instance, the company demonstrated its ability to return cash to shareholders, announcing a quarterly dividend of $1.20 per share, a 15% increase versus the prior year.

It is important to note the nuance within this segment, as not all components behave identically. While the core product is the classic cash cow, Intuit Inc. is actively investing to maintain relevance and extract more value, particularly in the assisted space. This is evident in the performance of TurboTax Live:

• TurboTax Live revenue growth for fiscal year 2025 reached 47%.
• TurboTax Live customer growth for fiscal year 2025 was 24%.
• This high growth in the assisted tier suggests strategic investment to defend against market shifts, though the overall segment growth remains in the low double digits at 10%.

The strategy here is to 'milk' the gains passively from the dominant DIY base while using a portion of that cash to fuel innovation, like the high-growth TurboTax Live offering, which helps maintain the overall market leadership. The low growth prospects of the mature market segment are what define it as a Cash Cow, providing the necessary capital to support 'Question Marks' or fund 'Stars' elsewhere in the portfolio. The company's total operating income, which this segment helps fund, was $7.6 billion on a non-GAAP basis for the full year 2025.

Intuit Inc. (INTU) - BCG Matrix: Dogs

You're looking at the parts of Intuit Inc. (INTU) that aren't driving the rocket ship anymore, the units stuck in low-growth markets with a small slice of that market. Honestly, these are the businesses where you have to be disciplined about cash use; they shouldn't be burning capital for a turnaround that's unlikely to happen.

The Dogs quadrant is reserved for business units with low relative market share operating in low-growth or stagnant markets. These entities often break even, meaning they neither significantly consume nor generate substantial cash, but they tie up working capital that could be better deployed elsewhere. For Intuit Inc., this category currently houses some of the legacy or niche professional offerings.

The ProTax Group, which serves tax professionals, is clearly positioned here based on forward-looking expectations. The fiscal year 2026 guidance for this segment is projected at a very modest 2% to 3% growth rate. This low growth trajectory signals a mature or saturated market for this specific professional service offering.

The core do-it-yourself (DIY) tax market, represented by the broader TurboTax unit base, is also showing signs of contraction, a classic Dog characteristic. For the fiscal year 2025, total U.S. TurboTax units saw a decline of 2% year-over-year, ending at 39.2 million units compared to 39.9 million units in fiscal year 2024. This reflects a slow-growth or potentially shrinking core DIY segment, even as the higher-value TurboTax Live offering shows strong growth.

QuickBooks Desktop units represent another clear legacy product facing headwinds. In fiscal year 2025, these units dropped by 4%, totaling 4.3 million units versus 4.6 million units the prior year. This decline is a classic indicator of a product being phased out or superseded by cloud-native alternatives, especially given Intuit Inc.'s strategic shift. In fact, Intuit Inc. has been actively sunsetting sales and support for older QuickBooks Desktop applications, with critical security updates ceasing for some versions after May 31, 2025.

These products require minimal capital expenditure to maintain operations, but their future growth potential is severely limited. The strategy here is typically to harvest any remaining cash flow or prepare for divestiture to free up resources for the Stars and Question Marks. Here's a quick look at the unit trends for these lower-growth areas:

The expectation is that these units will continue to require minimal investment while offering limited upside. The focus for management should be on managing the transition away from these assets efficiently. You want to avoid expensive turn-around plans here; the data suggests the market is moving on.

• ProTax Group FY2026 Revenue Growth Guidance: 2% to 3%.
• Total U.S. TurboTax Units FY2025 Decline: 2%.
• QuickBooks Desktop Units FY2025 Decline: 4%.
• QuickBooks Desktop application sales discontinuation after September 2024.

Finance: draft 13-week cash view by Friday.

Intuit Inc. (INTU) - BCG Matrix: Question Marks

You're looking at the products that are currently consuming cash while operating in high-potential markets, and right now, Mailchimp is the clearest example in the Intuit Inc. portfolio. These are the units where the market is growing, but Intuit Inc.'s current position within it isn't strong enough to generate significant returns yet. They need a decisive move-heavy investment or divestment-to avoid becoming Dogs.

The performance data from the fourth quarter of fiscal year 2025 clearly shows Mailchimp acting as a headwind. For the quarter ended July 31, 2025, Intuit Inc.'s total revenue grew 20 percent year-over-year to $3.8 billion, but the drag from Mailchimp was evident when you break down the Global Business Solutions Group (GBSG) results. While GBSG revenue grew 18 percent to $3.0 billion, the core Online Ecosystem growth jumped to 26 percent when you strip Mailchimp out, compared to 21 percent including it. That difference is the cost of carrying this Question Mark right now. For the full fiscal year 2025, GBSG revenue grew 16 percent to $11.1 billion, but excluding Mailchimp, that growth was 18 percent, showing the same pattern of deceleration within the segment.

Here's a quick look at how Mailchimp's performance impacts the segment's reported growth rates based on the Q4 2025 results and FY2026 guidance:

Intuit Inc. is actively working to turn this around, which is the necessary investment phase for a Question Mark. The strategy centers on making the product work better for its core audience, which is small businesses. You see, the CFO noted that small businesses-Mailchimp's bread and butter-found the platform 'a bit harder to use,' which hurts retention and expansion. The company is focused on simplifying the product to address this high churn among smaller customers in what is still a growing market. Management has a clear goal: they expect to exit fiscal year 2026 with Mailchimp growing double digits again.

Credit Karma also warrants a look in this quadrant, as its high-growth trajectory is showing signs of slowing, which could shift it from a potential Star to a more established, but less explosive, asset. While Credit Karma revenue grew 34 percent in Q4 2025 to $649 million and 27 percent in Q1 2026 to $651 million, the full fiscal year 2026 guidance suggests a deceleration. The projected growth for Credit Karma in fiscal year 2026 is 10 to 13 percent, which is a sharp deceleration from the prior year's growth rates, making its long-term Star status less defintely certain.

The immediate actions Intuit Inc. is taking to manage these Question Marks include:

• Simplifying the Mailchimp product for smaller customers.
• Adding more segmentation and performance marketing to Mailchimp.
• Focusing on capturing larger clients by increasing the sales team for Mailchimp.
• Investing in AI across the platform to drive member monetization at Credit Karma.