Intuit investor day helps justify valuation
Reliable software specialist Intuit has successfully shifted from a lumpy licensing revenue model to a smooth subscription revenue model. This has made the sales of its office software even more reliable. Here is the ultimate guide to news updates from Intuit.
With shares trading on 35 times 2020 forecast earnings, investors are right to expect a lot from US software group Intuit (US: INTU). Fortunately, it is delivering on those expectations. At a recent investor day, management reiterated its guidance for the year to July 2020 of 10-11% revenue growth and 11-13% EPS growth.
Excellent customer retention is key to the company’s impressive performance and in the 2019 financial year, retention was just under 80%. This gives the group a strong base of reliable recurring revenue and a platform for cross-selling new products to existing customers.
Like its UK…
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