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Intuit's Credit Karma Expands Reach: Can Double-Digit Growth Last?
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Key Takeaways
INTU's Credit Karma generated $2.6 billion in FY2026 revenues, growing 20% year over year.
Credit Karma gained share in major financial categories, with insurance and home-loan revenues up 44%.
TurboTax users of Credit Karma generate approximately twice the average revenues of single-product users.
Intuit’s (INTU - Free Report) Credit Karma generated $2.6 billion in revenues and grew 20% in fiscal 2026. However, Intuit expects Credit Karma’s growth to moderate to 11%-13% in fiscal 2027, implying revenues of $2.919-$2.973 billion. While this represents a meaningful slowdown, the business would still be growing at a double-digit rate and remains one of the stronger growth areas within Intuit’s consumer portfolio.
Several factors could support continued growth. Credit Karma is gaining share in major financial categories, with roughly one in nine U.S. credit-card and personal-loan originations now coming through Intuit’s platform. Insurance and home-loan revenues also grew 44% in fiscal 2026, creating opportunities to diversify beyond traditional lending products.
Another key driver is the connection between Credit Karma and TurboTax. Customers using both products generate approximately twice the average revenue per customer compared with single-product users. This allows Intuit to deepen engagement and monetize customers across multiple financial needs throughout the year.
The biggest concern is the slowdown in Credit Karma’s growth, from 20% in fiscal 2026 to 11%-13% expected in fiscal 2027. Management is taking a cautious view of future gains in partner demand, indicating that the strong momentum in fiscal 2026 may be difficult to replicate.
Credit Karma strengthens Intuit’s broader consumer ecosystem by connecting tax customers with financial products throughout the year. With expanding product categories, rising engagement and deeper TurboTax integration, Credit Karma could remain an important contributor to Intuit’s long-term growth strategy.
How INTU’s Competitors Fared?
NerdWallet (NRDS - Free Report) is a direct Credit Karma competitor in financial-product discovery across credit cards, loans, insurance and deposits. In the second quarter of 2026, revenues rose 6% year over year to $197.3 million, while consumer revenues increased 8% to $175.2 million.
LendingTree (TREE - Free Report) competes through its online marketplace for loans, cards, mortgages, insurance and credit services. In the second quarter of 2026, consolidated revenues jumped 25% to $313.4 million. Insurance revenue surged 42% to $209.3 million, while consumer revenues fell 4% to $60.3 million.
INTU’s Price Performance, Valuation and Estimates
Shares of Intuit have rallied 11.6% over the past three months, outperforming the broader industry and the S&P 500 composite.
Image Source: Zacks Investment Research
In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 4.15X, which is at a discount to the industry average of 6.43X.
Image Source: Zacks Investment Research
Intuit’s estimate revisions reflect a negative trend. The Zacks Consensus Estimate for fiscal 2027 EPS has been revised down 4% to $26.24 over the past week. The consensus estimate for 2027 calls for 8.1% growth year over year.
View the Zacks #1 Rank List
Image: Bigstock
Intuit's Credit Karma Expands Reach: Can Double-Digit Growth Last?
Key Takeaways
Intuit’s (INTU - Free Report) Credit Karma generated $2.6 billion in revenues and grew 20% in fiscal 2026. However, Intuit expects Credit Karma’s growth to moderate to 11%-13% in fiscal 2027, implying revenues of $2.919-$2.973 billion. While this represents a meaningful slowdown, the business would still be growing at a double-digit rate and remains one of the stronger growth areas within Intuit’s consumer portfolio.
Several factors could support continued growth. Credit Karma is gaining share in major financial categories, with roughly one in nine U.S. credit-card and personal-loan originations now coming through Intuit’s platform. Insurance and home-loan revenues also grew 44% in fiscal 2026, creating opportunities to diversify beyond traditional lending products.
Another key driver is the connection between Credit Karma and TurboTax. Customers using both products generate approximately twice the average revenue per customer compared with single-product users. This allows Intuit to deepen engagement and monetize customers across multiple financial needs throughout the year.
The biggest concern is the slowdown in Credit Karma’s growth, from 20% in fiscal 2026 to 11%-13% expected in fiscal 2027. Management is taking a cautious view of future gains in partner demand, indicating that the strong momentum in fiscal 2026 may be difficult to replicate.
Credit Karma strengthens Intuit’s broader consumer ecosystem by connecting tax customers with financial products throughout the year. With expanding product categories, rising engagement and deeper TurboTax integration, Credit Karma could remain an important contributor to Intuit’s long-term growth strategy.
How INTU’s Competitors Fared?
NerdWallet (NRDS - Free Report) is a direct Credit Karma competitor in financial-product discovery across credit cards, loans, insurance and deposits. In the second quarter of 2026, revenues rose 6% year over year to $197.3 million, while consumer revenues increased 8% to $175.2 million.
LendingTree (TREE - Free Report) competes through its online marketplace for loans, cards, mortgages, insurance and credit services. In the second quarter of 2026, consolidated revenues jumped 25% to $313.4 million. Insurance revenue surged 42% to $209.3 million, while consumer revenues fell 4% to $60.3 million.
INTU’s Price Performance, Valuation and Estimates
Shares of Intuit have rallied 11.6% over the past three months, outperforming the broader industry and the S&P 500 composite.
Image Source: Zacks Investment Research
In terms of forward 12-month Price/Sales (P/S), Intuit is currently trading at 4.15X, which is at a discount to the industry average of 6.43X.
Image Source: Zacks Investment Research
Intuit’s estimate revisions reflect a negative trend. The Zacks Consensus Estimate for fiscal 2027 EPS has been revised down 4% to $26.24 over the past week. The consensus estimate for 2027 calls for 8.1% growth year over year.
Image Source: Zacks Investment Research
Currently, Intuit carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.