Filing Flows › Intuit (INTU) › Takeover & LBO
Is Intuit (INTU) a takeover target?
A leveraged buyout at today's price plus 30% ($461.29 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $283.80 a share (−20% against today's $354.84). At $130.3B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect. Historically 2.0% of companies with its figures were bought within a year (0.39× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $461.29 | today's $354.84 plus 30% |
| × shares | 276.0 million | |
| = Equity value | $127.3B | |
| + Debt refinanced | $7.7B | |
| − Cash | $4.7B | |
| = Enterprise value | $130.3B | 19.9× EBITDA of $6.6B |
| Fees | $2.6B | 2% of the price |
| New debt | $36.1B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $96.8B | 73% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $23.2B | $7.1B | $2.8B | $3.1B | $33.0B |
| Year 2 | $24.7B | $7.6B | $2.5B | $3.7B | $29.3B |
| Year 3 | $26.1B | $8.0B | $2.2B | $4.2B | $25.1B |
| Year 4 | $27.2B | $8.3B | $1.9B | $4.7B | $20.4B |
| Year 5 | $28.0B | $8.6B | $1.6B | $5.2B | $15.2B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 15.4× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $131.8B | |
| − Debt left | $15.2B | |
| = Buyer's equity | $116.6B | |
| Money multiple | 1.20× | on $96.8B put in |
| Buyer's yearly return (IRR) | 3.8% |
Price against return
What the buyer makes at other premiums over today's $354.84; the IRR reaches 20% at $283.80 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $390.32 | 8.7% |
| 20% | $425.81 | 6.1% |
| 30% | $461.29 | 3.8% |
| 40% | $496.78 | 1.8% |
| 50% | $532.26 | 0.0% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $21.4B | |
| EBITDA, last 12 months | $6.6B | 30.6% of revenue |
| Depreciation and amortization | $672M | |
| Capital spending | $175M | |
| Debt | $7.7B | |
| Cash | $4.7B | |
| Share price | $354.84 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 24% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Intuit would cost about $461.29 a share, $127.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $397.42 | $109.7B |
| Median | 30% | $461.29 | $127.3B |
| High end (a quarter paid more) | 31% | $464.84 | $128.3B |
The odds, from history
Historically 2.0% of companies with its figures were bought within a year (0.39× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Intuit's latest quarter
Intuit, Q4 FY26: revenue $4.4B (+14% year over year), operating margin 10.9%, net earnings $363M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
Questions
Is Intuit being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Intuit?
A leveraged buyout at today's price plus 30% ($461.29 a share) would return about 4% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $283.80 a share (−20% against today's $354.84). At $130.3B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect.
What would a takeover of Intuit cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Intuit would cost about $461.29 a share, $127.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.