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Intuit Inc INTU

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Intuit To Expand Small Business Platform With $12 Billion Mailchimp Acquisition; Raising FVE to $424

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

On Sept. 13, wide-moat Intuit confirmed the rumored acquisition of Mailchimp for a total consideration of $12 billion in cash and stock, which we believe will ultimately prove value-accretive for the small business software powerhouse. Considering the synergies from the deal and Mailchimp’s profitability, we are increasing our fair value estimate for Intuit to $424 from $403, but still recommend waiting for a pullback before investing in Intuit.

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Company Profile

Business Description

Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of U.S. market share for small-business accounting and DIY tax-filing software.

2700 Coast Avenue
Mountain View, CA, 94043
T +1 650 944-6000
Sector Technology
Industry Software - Application
Most Recent Earnings Jul 31, 2021
Fiscal Year End Jul 31, 2022
Stock Type Aggressive Growth
Employees 13,500