INTU - Intuit Inc.

Stock is down ~60% from its highs, trading at $323 with $90B enterprise value. Generates $7.8B free cash flow, has 80% gross margins, consistent 20%+ profit margins, 16% annualized revenue growth over 10 years, and strong ROIC. Paul's stock analyzer shows middle price of $631 with expected 18.5% annualized return over 10 years. He uses QuickBooks daily and believes AI fears are overblown.

Host explicitly states he does not like Intuit and will not invest at any price. Primary concerns are management's growth-at-all-costs mentality, history of diluting shareholders to fund acquisitions, lack of focus on margins and per-share metrics, and the likelihood of future dilution to meet 20% growth targets.

Intuit reported a triple beat on EPS, revenue, and guidance, but the stock dropped 7-10% after hours. The hosts note software names are not getting love despite strong results, partly due to 17% layoffs announced. This is used as a contrast to semiconductor/AI names rather than a direct recommendation.

Stock is down ~50% from all-time highs due to AI fears around TurboTax and QuickBooks. The host notes the business is still growing with strong free cash flow ($6.84B last year), trading at 16x free cash flow vs 40-50x historically. He personally has puts on INTU as a hedge but finds the stock analyzer output interesting (low $400, middle $600, high $890 vs current $405). He sees it as worth further investigation but not a slam dunk.

Selling cash secured puts at $310 strike price.

Core products (TurboTax, QuickBooks) face AI-driven competition, eroding their moat. Markets are forward-looking and discounting future earnings decline.

Intuit is cited as an example of a company that relies heavily on acquisitions to meet its 20% growth target, often using debt and shareholder dilution. The presenter implies caution and suggests investors may not want to hold a company that grows at all costs without focusing on margins or shareholder returns.

Intuit is mentioned alongside Adobe and ServiceNow as being down significantly from highs due to AI dispersion. No explicit recommendation given.

Used as a negative example of a company focused on revenue growth at all costs, with no discussion of efficiency, margins, or shareholder returns. The speaker implies he avoids this type of company.

Intuit is mentioned as a dominant software company with massive free cash flow and a strong balance sheet, now beaten down by AI fears. The host suggests it could be a compelling opportunity at the right price.