Intuit

CEO Sasan Goodarzi has executed a multi‑year transition toward an AI‑driven expert platform across consumer and SMB, with clear progress in assisted tax and mid‑market.

Founder Scott Cook remains a significant long‑tenured shareholder and director, and overall directors and executive officers owned about 2.7 percent of shares as of October 31, 2024, aligning incentives. Governance includes robust stock ownership requirements for senior leaders.

Risk management has been active around fraud, data protection, and regulatory matters.

Quality Value Investing Checklist scores: 1) Morningstar moat: 90 wide moat per Morningstar research; 2) Return on capital: 85 approximate ROIC high‑teens on NOPAT relative to invested capital; 3) Revenue and FCF growth: 85 consistent double‑digit multi‑year; 4) High margins: 90 GAAP operating margin about 26 percent and FCF margin about 32 percent; 5) Owner‑CEO: 70 founder still significant though not CEO; 6) Simplicity: 70 multi‑segment fintech adds complexity; 7) Very low debt: 88 low net leverage vs FCF; 8) Dilution: 65 SBC sizable but offset by buybacks; 9) Jurisdiction: 90 U.S. base with minimal geopolitical risk; 10) Trend alignment and boringness: 85 secular digitization and AI tailwinds; 11) Superinvestor inspiration: 80 tollbooth‑like, cash generative compounder; 12) Valuation: see recommendation for fair multiple and range.