Intuit Inc (INTU)

Gross profit margin

		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	Jul 31, 2020	Apr 30, 2020	Jan 31, 2020	Oct 31, 2019
Gross profit (ttm)	US$ in thousands	9,703,000	9,749,000	9,259,000	9,017,000	8,660,000	8,266,000	7,766,000	7,349,000	7,184,000	7,421,000	6,617,000	6,157,000	5,801,000	5,912,000	5,125,000	5,373,000	5,237,000	4,456,000	4,727,000	4,590,000
Revenue (ttm)	US$ in thousands	16,285,000	15,811,000	15,086,000	14,733,000	14,368,000	13,934,000	13,594,000	13,272,000	12,726,000	12,848,000	11,403,000	10,319,000	9,633,000	8,878,000	7,710,000	7,833,000	7,679,000	6,857,000	7,127,000	6,933,000
Gross profit margin		59.58%	61.66%	61.37%	61.20%	60.27%	59.32%	57.13%	55.37%	56.45%	57.76%	58.03%	59.67%	60.22%	66.59%	66.47%	68.59%	68.20%	64.98%	66.33%	66.21%

July 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $9,703,000K ÷ $16,285,000K
= 59.58%

Intuit Inc's gross profit margin has shown fluctuations over the past few years. The gross profit margin has generally been trending downwards from the high of 68.59% in January 2021 to 59.58% in July 2024. This indicates that the company's cost of goods sold relative to its revenue has been increasing.

The company experienced a significant decline in the gross profit margin in the period from January 2023 to October 2023, dropping from 61.37% to 55.37%. However, there has been a gradual recovery since then, with the gross profit margin improving to 59.58% in July 2024.

Overall, while there have been fluctuations in Intuit Inc's gross profit margin, the recent increase since the low point in January 2023 is a positive sign for the company's profitability. Investors and analysts will continue to monitor the company's ability to manage its cost of goods sold and maintain a healthy gross profit margin in the future.