INTU – Market expectations are for significant Uniform ROA expansion, and management is confident about their offerings, financial assistance, and Credit Karma

• Intuit Inc. (INTU:USA) currently trades near historical highs relative to UAFRS-based (Uniform) earnings, with a 35.6x Uniform P/E, implying bullish expectations for the firm. Furthermore, management is confident about their tax refund and payroll offerings, personalized financial assistance, and Credit Karma acquisition
  
  

• Specifically, management is confident they are focused on helping customers get their largest tax refund, that they introduced a new payroll lineup featuring full-service offerings, and that understanding the difference and availability of lower-cost personal loans versus high-cost credit cards could save consumers $20bn-$40bn. In addition, they are confident a broad set of qualified customers would be provided access to the Credit Karma platform, that they see no one else in the marketplace pursuing a personalized financial assistant, and that their Credit Karma acquisition could benefit consumers. Moreover, they are also confident the strategy for Credit Karma is to create a consumer finance platform that can serve as a financial assistant for consumers, that their M&A principles to achieve greatness for end customers have not changed, and that they would get scale out of their operating cost bases as they move into new verticals