Intuit Inc (INTU)

Inventory turnover

		Jul 31, 2025	Apr 30, 2025	Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020
Cost of revenue (ttm)	US$ in thousands	3,732,000	3,681,000	3,730,000	3,648,000	3,585,000	3,515,000	3,309,000	3,227,000	3,143,000	3,030,000	2,873,000	2,665,000	2,406,000	2,271,000	2,042,000	1,844,000	1,683,000	1,540,000	1,371,000	1,344,000
Inventory	US$ in thousands	—	—	—	—	—	—	3,390,000	2,525,000	420,000	388,000	376,000	—	—	—	—	—	—	—	—	—
Inventory turnover		—	—	—	—	—	—	0.98	1.28	7.48	7.81	7.64	—	—	—	—	—	—	—	—	—

July 31, 2025 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,732,000K ÷ $—K
= —

The historical inventory turnover data for Intuit Inc reveals a period of consistent reporting gaps from October 2020 through October 2022, during which no inventory turnover figures were available. This absence suggests that either inventory levels are minimal, not material to the company's operations, or that inventory accounting is not emphasized in reporting during this period. Starting from January 2023, inventory turnover data becomes available, indicating a notable change in the company's reporting practices or operational structure.

In the first quarter of 2023 (January 31), the inventory turnover was 7.64 times, slightly increasing to 7.81 times by April 30, 2023. This suggests that, during this period, the company efficiently managed its inventory, turning it over roughly 7.6 to 7.8 times within a fiscal year, indicative of a fast inventory cycle typical for software or digital-focused businesses.

However, a significant decline occurred in the subsequent periods: the figure drops sharply to 1.28 times as of October 31, 2023, and further to 0.98 times by January 31, 2024. Such a drastic reduction indicates a substantial slowdown in inventory turnover, implying that inventory is accumulating or that inventory-related activities have decreased markedly. This might reflect changes in business operations, product mix shifts, increased inventory holdings, or accounting/reporting adjustments.

Overall, the data suggests that Intuit Inc experienced high inventory turnover during early 2023, aligning with an efficient inventory management model. The subsequent sharp decline raises questions about operational changes or strategic shifts, emphasizing the need for further context to accurately interpret the underlying causes of this substantial fluctuation.