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  "documentTitle": "Intuit Inc. (INTU)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2024-09-20 00:00:00",
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      "text": "Assuming 5-year useful lives for the intangibles related to customer lists from the Credit Karma and Mailchimp acquisitions results in estimated 21% to 26% reductions in GAAP net income in each of the past three fiscal years and a near halving of GAAP net margins since FY 2020 from 24% to 14%.",
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      "text": "Source: Intuit SEC filings, Spruce Point Research",
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      "text": "Adopting Industry Benchmarks And Precedent Deal Assumptions Results In Over 20% Lower GAAP Net Income The Past Three Fiscal Years",
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