Morningstar

Intuit Inc

INTU: XNAS (USA)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Intuit's Strong Pricing Power Supports a Wide Moat

May 23, 2025

Business Strategy and Outlook

Intuit owns an array of small business and tax software products that enjoy dominant market positions in their respective verticals. We think Intuit Enterprise Suite, the company’s entry-level enterprise resource planning platform that combines Mailchimp’s front-office and QuickBooks’ back-office functionalities, is a competitive product supporting Intuit’s expansion among midsize companies. In addition, Intuit’s matchmaking systems, offering real-time expert support across QuickBooks, Mailchimp, and TurboTax, should become an effective tool that lifts average revenue per customer.

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