At $273.38, Intuit (INTU) looks set up for roughly 41% of upside over the next three years under a conservative scenario. Not a moonshot, but enough to matter if the math holds. Revenue compounding does all the work; the multiple is asked to do nothing. Here is the operational reality the math is built on:

Customers spend at least 7x more on accounting and tax experts than on software alone. This reality reframes the company’s core mission away from just selling code. Intuit is capitalizing on this by building a platform that combines software with human expertise. This service layer is where the most significant growth is now happening.

This is why the company’s revenue trajectory is the central story. The fastest growth is…