Intuit vs Sage Group: Revenue, Profit and Business Model
Intuit reported $21.4B of revenue in FY2026 and $4.6B of net income. Sage Group reported ~$3.3B of revenue in FY2025 and ~$487.1M of net income.
Latest financial snapshot
Intuit
- Latest revenue
- $21.4B (FY2026)
- Net income
- $4.6B
- Net margin
- 21.3%
- Revenue growth
- +17.1% a year, FY2017–FY2026
Sage Group
- Latest revenue
- ~$3.3B (FY2025)
- Net income
- ~$487.1M
- Net margin
- 14.7%
- Revenue growth
- +8.0% a year, FY2021–FY2025
Financial summary
Intuit
Revenue rose from $7.7 billion in fiscal 2020 to $21.4 billion in fiscal 2026, helped by the Credit Karma (2020) and Mailchimp (2021) acquisitions and by organic growth in QuickBooks Online and TurboTax Live. Fiscal 2026 GAAP operating income grew 20% to $5.9 billion and non-GAAP operating income grew 18% to $8.9 billion; GAAP diluted EPS was $16.46. The company's 'Big Bets' (assisted tax, money/payments, and mid-market) grew 34% and made up 30% of revenue.
Sage Group
Sage moved from one-off desktop licences to subscriptions over the past decade. That shift lowered reported growth for a few years but left the group with a highly recurring revenue base. In FY25 (year to 30 September 2025), underlying total revenue grew 10% to ~$3.32 billion (£2,513 million), annualised recurring revenue rose 11% to ~$3.4 billion (£2,574 million), underlying operating profit rose 17% to ~$792 million (£600 million), and the margin widened by 1.5 points to 23.9%. Underlying basic EPS rose 18% to 43.2p. Sage paid a full-year dividend of 21.85p and announced a buyback of up to $396 million (£300 million). In the first half of FY26, revenue rose 11% to ~$1.8 billion (£1,363 million), underlying operating profit rose 15%, and the interim dividend was raised 8%. Nine-month FY26 revenue was ~$2.72 billion (£2,062 million), up 11%. Full-year FY26 results are expected in November 2026.
Revenue and profit by year
Intuit
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $21.4B | $4.6B | 21.3% | +13.9% | Source |
| FY2025 | $18.8B | $3.9B | 20.5% | +15.6% | Source |
| FY2024 | $16.3B | $3B | 18.2% | +13.3% | Source |
| FY2023 | $14.4B | $2.4B | 16.6% | +12.9% | Source |
| FY2022 | $12.7B | $2.1B | 16.2% | +32.1% | Source |
| FY2021 | $9.6B | $2.1B | 21.4% | +25.4% | Source |
| FY2020 | $7.7B | $1.8B | 23.8% | +13.2% | Source |
| FY2019 | $6.8B | $1.6B | 23.0% | +12.6% | Source |
| FY2018 | $6B | $1.3B | 22.1% | +16.0% | Source |
| FY2017 | $5.2B | $985M | 19.0% | — | Source |
Sage Group
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$3.3B | ~$487.1M | 14.7% | +7.8% | Source |
| FY2024 | ~$3.1B | ~$426.4M | 13.9% | +6.8% | Source |
| FY2023 | ~$2.9B | ~$278.5M | 9.7% | +12.2% | Source |
| FY2022 | ~$2.6B | ~$343.2M | 13.4% | +5.5% | Source |
| FY2021 | ~$2.4B | ~$376.2M | 15.4% | — | Source |
Where the revenue comes from
Intuit
- Global Business Solutions (QuickBooks & Mailchimp)60
QuickBooks Online and Desktop subscriptions, payroll, payments, bill pay, lending, Intuit Enterprise Suite, and Mailchimp; $12.9 billion in fiscal 2026.
- TurboTax25
DIY and TurboTax Live assisted tax preparation; $5.3 billion in fiscal 2026, with TurboTax Live at 53%.
- Credit Karma12
Referral fees from lenders, card issuers, and insurers plus Credit Karma Money; $2.6 billion in fiscal 2026.
- ProTax3
Lacerte, ProSeries, and ProConnect software for tax professionals; $647 million in fiscal 2026.
Sage Group
No segment breakdown is published.
Business model and strategy
Intuit
How it makes money
Intuit earns money from four product lines. QuickBooks charges small and mid-sized businesses monthly subscriptions and adds fees for payroll, payments processing, bill pay, and lending; together with Mailchimp's email and SMS marketing plans this formed the Global Business Solutions segment, which produced $12.9 billion (about 60%) of fiscal 2026 revenue.
Growth strategy
Intuit's growth plan centers on three Big Bets: shifting TurboTax customers to assisted TurboTax Live, expanding money movement (payments, bill pay, lending, Credit Karma Money), and winning mid-market businesses with Intuit Enterprise Suite and QuickBooks Advanced.
Competitive advantage
Intuit's advantage is the depth of its installed base. QuickBooks is the default ledger for millions of U.S. small businesses and is reinforced by the ProAdvisor network of accountants trained on the product, so switching means moving years of books, payroll, and payments history. TurboTax holds the largest share of U.S.
Sage Group
How it makes money
Sage makes money mainly from software subscriptions. In FY25, recurring revenue was ~$3.22 billion (£2,436 million), or 97% of the ~$3.32 billion (£2,513 million) total, and software subscription revenue made up about 83% of the group. The remaining ~$102 million (£77 million) came mostly from professional services and licences.
Growth strategy
Sage's growth strategy has three parts: sell Sage Intacct to more mid-sized companies, especially businesses outgrowing QuickBooks, and in new countries; add AI features through Sage Copilot and AI agents that customers can pay more for; and move remaining desktop users to cloud-connected subscriptions. Bolt-on acquisitions, such as Lockstep (2022) and Brightpearl (2022), add workflow and commerce capabilities.
Competitive advantage
Sage's edge rests on local compliance and switching costs. Each country Sage serves has its own tax, payroll and e-invoicing rules, and Sage has built that compliance into its products over four decades, for example supporting HMRC's Making Tax Digital rules in the UK.
Questions about Intuit vs Sage Group
Which company has higher revenue — Intuit Inc. or The Sage Group plc?
Intuit Inc. reported $21.4B (FY2026), while The Sage Group plc reported ~$3.3B (FY2025). By last reported revenue, Intuit Inc. is the larger business, with The Sage Group plc reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Intuit Inc. vs The Sage Group plc?
Intuit Inc.'s market capitalisation stands at $72.0B, while The Sage Group plc's is $11.5B. Intuit Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to The Sage Group plc.
Which is more financially efficient — Intuit Inc. or The Sage Group plc?
Intuit Inc. generates $1.18M / employee in revenue per employee, while The Sage Group plc generates $276k / employee. Intuit Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Intuit Inc. and The Sage Group plc make money?
Intuit Inc. and The Sage Group plc generate revenue in fundamentally different ways. Intuit Inc.: Intuit earns money from four product lines. The Sage Group plc: Sage makes money mainly from software subscriptions.
Which company is valued higher relative to revenue — Intuit Inc. or The Sage Group plc?
On a price-to-sales (P/S) basis, Intuit Inc. trades at 3.4x P/S and The Sage Group plc at 3.5x P/S. The Sage Group plc commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Intuit Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Intuit Inc. bigger than The Sage Group plc?
By last reported revenue, Intuit Inc. ($21.4B (FY2026)) is the larger company compared to The Sage Group plc (~$3.3B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Intuit vs Sage Group overview