What changed
$INTU — HOLD 📊 | 6 MONTHS THESIS
🧭 Conviction: MED
🎯 FQ3 FY2026 (ends Apr) | reported May 20 | Rev $8.6B | EPS $12.80 vs $12.57 🟢 | Margin 79.3%
💡 Consensus fully prices in ~10% revenue growth and stable margins. The 1.8% EPS beat is not a material surprise, and there’s no variant view suggesting consensus underestimates Intuit’s earnings power in the coming quarters.
🏢 Business Quality: 8/10
📊 Valuation: fair — trailing P/E of ~21x (annual EPS $12.80) is in line with historical levels and justified by 10% revenue growth, 79% operating margins, and 36%...
🔮 Catalyst: Next quarterly earnings release
⚖️ HOLD — Intuit is a high-quality franchise fairly valued at ~21x earnings with no immediate catalyst to drive significant outperformance; accumulate on dips below $250.