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H&R Block, Inc. (HRB) 10-Year Financial Performance & Capital Metrics

HRB • • Industrial / General
Consumer CyclicalPersonal ServicesSpecialized Professional ServicesTax Preparation Services
AboutH&R Block, Inc., through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees. It also provides Refund Transfers and H&R Block Emerald Prepaid Mastercard, which enables clients to receive their tax refunds; Peace of Mind extended service plans; H&R Block Emerald Advance lines of credit; Tax Identity Shield that provides clients assistance in helping protect their tax identity and access to services to help restore their tax identity; refund advance loans; H&R Block Instant Refund; and H&R Block Pay With Refund services. In addition, the company offers small business financial solutions through its company-owned or franchise offices, and online. H&R Block, Inc. was founded in 1955 and is headquartered in Kansas City, Missouri.Show more
  • Revenue $3.76B +4.2%
  • EBITDA $945M +1.9%
  • Net Income $606M +1.8%
  • EPS (Diluted) 4.39 +6.6%
  • Gross Margin 44.53% -0.7%
  • EBITDA Margin 25.12% -2.2%
  • Operating Margin 22.01% -1.3%
  • Net Margin 16.11% -2.3%
  • ROE 674.99% -30.5%
  • ROIC 58.29% -4.5%
  • Debt/Equity 22.78 +5.2%
  • Interest Coverage 10.60 +4.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 700.0%
  • ✓FCF machine: 15.9% free cash flow margin
  • ✓Healthy dividend yield of 3.4%
  • ✓Share count reduced 4.6% through buybacks
  • ✓Healthy 5Y average net margin of 16.3%
  • ✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

  • ✗High debt to equity ratio of 22.8x
  • ✗Weak momentum: RS Rating 18 (bottom 18%)
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 65.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.02%
5Y7.34%
3Y2.79%
TTM4.15%

Profit (Net Income) CAGR

10Y2.49%
5Y-
3Y3.04%
TTM4.49%

EPS CAGR

10Y9.89%
5Y-
3Y10.88%
TTM8.25%

ROCE

10Y Avg30.1%
5Y Avg31.89%
3Y Avg36.73%
Latest39.36%

Peer Comparison

Tax Preparation Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
HRBH&R Block, Inc.5.4B42.689.724.17%16.24%6.75%11.1%22.78

Profit & Loss

Apr 2016Apr 2017Apr 2018Apr 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+3.04B3.04B3.16B3.09B2.64B3.41B3.46B3.47B3.61B3.76B
Revenue Growth %-0.01%-0%0.04%-0.02%-0.15%0.29%0.01%0%0.04%0.04%
Cost of Goods Sold+1.69B1.64B1.74B1.76B1.71B1.84B1.88B1.92B1.99B2.09B
COGS % of Revenue0.55%0.54%0.55%0.57%0.65%0.54%0.54%0.55%0.55%0.55%
Gross Profit+1.35B1.39B1.42B1.34B927.44M1.57B1.58B1.55B1.62B1.67B
Gross Margin %0.45%0.46%0.45%0.43%0.35%0.46%0.46%0.45%0.45%0.45%
Gross Profit Growth %0.12%0.03%0.02%-0.06%-0.31%0.69%0.01%-0.02%0.05%0.03%
Operating Expenses+719.41M675.95M668.15M722.17M744.36M802.27M837.11M800.03M813.5M846.91M
OpEx % of Revenue0.24%0.22%0.21%0.23%0.28%0.23%0.24%0.23%0.23%0.23%
Selling, General & Admin719.41M675.95M668.15M722.17M744.36M802.27M837.11M800.03M813.5M846.91M
SG&A % of Revenue0.24%0.22%0.21%0.23%0.28%0.23%0.24%0.23%0.23%0.23%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+633.19M715.98M752.05M615.79M183.08M769.63M744.9M748.7M805.28M827.97M
Operating Margin %0.21%0.24%0.24%0.2%0.07%0.23%0.22%0.22%0.22%0.22%
Operating Income Growth %-0.2%0.13%0.05%-0.18%-0.7%3.2%-0.03%0.01%0.08%0.03%
EBITDA+806.79M898.15M935.35M782.49M352.62M926.48M887.08M879.2M927.06M944.8M
EBITDA Margin %0.27%0.3%0.3%0.25%0.13%0.27%0.26%0.25%0.26%0.25%
EBITDA Growth %-0.15%0.11%0.04%-0.16%-0.55%1.63%-0.04%-0.01%0.05%0.02%
D&A (Non-Cash Add-back)173.6M182.17M183.29M166.69M169.54M156.85M142.18M130.5M121.78M116.83M
EBIT638.44M722.24M758.1M632.21M92.72M775.61M747.35M784.19M841.4M859.52M
Net Interest Income+-56.45M-89.12M-82.51M-70.54M-81.84M-106.87M-88.28M-72.98M-79.08M-78.11M
Interest Income12.51M3.83M6.86M16.51M14.25M00000
Interest Expense68.96M92.95M89.37M87.05M96.09M106.87M88.28M72.98M79.08M78.11M
Other Income/Expense-63.71M-86.7M-83.32M-70.63M-186.46M-100.89M-85.83M-37.49M-42.95M-46.57M
Pretax Income+569.48M629.29M668.73M545.16M-3.37M668.74M659.07M711.21M762.32M781.4M
Pretax Margin %0.19%0.21%0.21%0.18%-0%0.2%0.19%0.2%0.21%0.21%
Income Tax+185.93M208.37M41.82M99.9M-9.53M78.52M98.42M149.41M164.36M171.95M
Effective Tax Rate %0.66%0.65%0.92%0.78%2.23%0.87%0.84%0.78%0.78%0.78%
Net Income+374.27M408.94M613.15M422.51M-7.53M583.79M553.67M553.7M595.32M605.77M
Net Margin %0.12%0.13%0.19%0.14%-0%0.17%0.16%0.16%0.16%0.16%
Net Income Growth %-0.21%0.09%0.5%-0.31%-1.02%78.57%-0.05%0%0.08%0.02%
Net Income (Continuing)383.55M420.92M626.91M445.26M6.16M590.21M560.65M561.8M597.96M609.45M
Discontinued Operations-9.29M-11.97M-13.76M-22.75M-13.68M-6.42M-6.97M-8.1M-2.65M-3.68M
Minority Interest0000000000
EPS (Diluted)+1.491.912.922.04-0.043.083.223.564.124.39
EPS Growth %-0.13%0.28%0.53%-0.3%-1.02%82.05%0.05%0.11%0.16%0.07%
EPS (Basic)1.501.922.942.06-0.043.113.273.634.184.52
Diluted Shares Outstanding250.82M214.09M210.21M206.72M198.11M188.78M171.44M154.49M143.89M137.34M
Basic Shares Outstanding249.01M212.81M208.82M205.37M196.7M186.83M168.52M153.51M141.93M133.95M
Dividend Payout Ratio0.54%0.46%0.33%0.49%-0.33%0.34%0.32%0.3%0.33%

Balance Sheet

Apr 2016Apr 2017Apr 2018Apr 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+1.22B1.35B1.28B1.99B3B2.08B1.38B1.19B1.24B1.16B
Cash & Short-Term Investments1B1.12B1.11B1.75B2.81B1.43B885.01M986.98M1.05B983.28M
Cash Only1B1.12B1.11B1.71B2.81B1.43B885.01M986.98M1.05B983.28M
Short-Term Investments00040M000000
Accounts Receivable153.12M162.78M86.35M138.97M113.91M73.27M254.59M49.15M51.21M63.62M
Days Sales Outstanding18.419.579.9716.3915.757.8326.835.175.186.17
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets66.57M65.72M85.28M106.67M76.85M496.32M238.16M140.52M117.08M101.75M
Total Non-Current Assets+1.63B1.35B1.32B1.31B2B1.93B1.88B1.88B1.98B2.1B
Property, Plant & Equipment293.56M263.83M227M212.09M661.02M585.12M551.7M568.31M593.3M656.28M
Fixed Asset Turnover10.35x11.51x13.92x14.59x3.99x5.83x6.28x6.11x6.09x5.73x
Goodwill470.76M491.21M507.94M519.94M724.29M754.52M760.4M775.45M785.23M802.05M
Intangible Assets433.88M409.36M354.83M342.49M400.02M351.09M309.64M277.04M264.1M259.41M
Long-Term Investments262.79M52.9M58.77M55.64M48.23M000047.02M
Other Non-Current Assets165.62M130.77M174.37M176.43M166.52M243.27M54.01M52.57M65.04M18.89M
Total Assets+2.86B2.69B2.61B3.3B5B4.01B3.27B3.07B3.22B3.26B
Asset Turnover1.06x1.13x1.21x0.94x0.53x0.85x1.06x1.13x1.12x1.15x
Asset Growth %-0.37%-0.06%-0.03%0.27%0.51%-0.2%-0.19%-0.06%0.05%0.01%
Total Current Liabilities+1.04B939.28M564M923M765.96M982.49M998.81M938.78M977.33M1.3B
Accounts Payable259.59M217.03M145.47M249.53M128.69M161.27M160.93M159.9M155.83M144.05M
Days Payables Outstanding56.2148.1730.5251.8427.4331.9531.2230.3428.5625.2
Short-Term Debt826K981K1.04M0209.56M1.4M000349.89M
Deferred Revenue (Current)0000001000K1000K1000K0
Other Current Liabilities243.65M189.22M201.71M204.98M201.81M436.64M000191.85M
Current Ratio1.17x1.43x2.27x2.16x3.91x2.12x1.39x1.26x1.27x0.90x
Quick Ratio1.17x1.43x2.27x2.16x3.91x2.12x1.39x1.26x1.27x0.90x
Cash Conversion Cycle----------
Total Non-Current Liabilities+1.78B1.82B1.85B1.84B4.1B2.64B2.06B2.1B2.15B1.88B
Long-Term Debt1.48B1.49B1.49B1.49B3.5B1.98B1.49B1.49B1.49B1.14B
Capital Lease Obligations5.63M4.6M4.34M0297.52M244.93M228.82M240.54M265.37M322.85M
Deferred Tax Liabilities000000226.36M264.57M291.06M306.13M
Other Non-Current Liabilities294.12M323.72M354.03M342.79M302.76M415.19M00103.36M104.11M
Total Liabilities2.82B2.75B2.41B2.76B4.86B3.63B3.06B3.04B3.13B3.18B
Total Debt+1.49B1.49B1.5B1.49B4B2.44B1.92B1.93B1.96B2.03B
Net Debt490.31M375.43M385.55M-215.1M1.2B1.01B1.04B947.93M909.21M1.04B
Debt / Equity64.55x-7.79x2.76x29.59x6.30x9.08x60.35x21.66x22.78x
Debt / EBITDA1.85x1.66x1.60x1.91x11.35x2.64x2.17x2.20x2.12x2.14x
Net Debt / EBITDA0.61x0.42x0.41x-0.27x3.39x1.09x1.17x1.08x0.98x1.10x
Interest Coverage9.18x7.70x8.41x7.07x1.91x7.20x8.44x10.26x10.18x10.60x
Total Equity+23.1M-60.88M192.01M541.53M135.28M388.06M211.63M32.06M90.59M88.9M
Equity Growth %-0.99%-3.64%4.15%1.82%-0.75%1.87%-0.45%-0.85%1.83%-0.02%
Book Value per Share0.09-0.280.912.620.682.061.230.210.630.65
Total Shareholders' Equity23.1M-60.88M192.01M541.53M135.28M388.06M211.63M32.06M90.59M88.9M
Common Stock2.6M2.46M2.42M2.38M2.28M2.17M1.94M1.79M1.71M1.64M
Retained Earnings40.35M-48.21M163.57M499.39M82.93M286.69M120.41M-48.68M12.65M12.06M
Treasury Stock-766.84M-754.75M-710.05M-707.46M-688.68M-680.36M-661.25M-654.33M-637.51M-644.05M
Accumulated OCI-11.23M-15.3M-16.03M-20.42M-34.04M88K-21.64M-37.1M-48.84M-47.76M
Minority Interest0000000000

Cash Flow

Apr 2016Apr 2017Apr 2018Apr 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+532.39M550.09M850M606.54M108.96M625.93M808.54M821.84M720.86M680.88M
Operating CF Margin %0.18%0.18%0.27%0.2%0.04%0.18%0.23%0.24%0.2%0.18%
Operating CF Growth %-0.15%0.03%0.55%-0.29%-0.82%4.74%0.29%0.02%-0.12%-0.06%
Net Income374.27M408.94M613.15M422.51M-7.53M583.79M553.67M553.7M595.32M605.77M
Depreciation & Amortization173.6M182.17M183.29M166.69M169.54M156.85M142.18M130.5M121.78M116.83M
Stock-Based Compensation23.54M19.29M21.95M23.77M28.05M28.27M34.25M31.33M34.28M32.5M
Deferred Taxes36.28M46.45M112.14M1.13M-8.3M-22.58M-53.35M49.58M-40.94M-34.61M
Other Non-Cash Items75.39M52.78M74.49M70.57M182.62M73.45M66.81M52.29M82.57M65.19M
Working Capital Changes-138.52M-157.43M-155.02M-78.13M-255.41M-193.85M64.98M4.45M-72.14M-104.8M
Change in Receivables-70.72M-80.21M-63.94M-73.65M-66.9M-150.93M-37.89M-57.24M-108.39M-62.25M
Change in Inventory0000000000
Change in Payables16.72M-30.47M32.61M0000000
Cash from Investing+329.51M99.32M-112.06M-155.13M-470.23M-45.52M-76.54M-101.39M-93.86M-105.37M
Capital Expenditures-99.92M-89.25M-98.58M-95.49M-81.69M-52.79M-61.95M-69.7M-63.68M-82.03M
CapEx % of Revenue0.03%0.03%0.03%0.03%0.03%0.02%0.02%0.02%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing81.74M242.25M29.07M-16M61.7M22.84M21.33M16.55M13.18M12.18M
Cash from Financing+-1.96B-530.42M-190.66M-403.69M1.53B-2.41B-1.26B-750.99M-564.31M-647.44M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-201.69M-187.12M-200.47M-205.46M-204.87M-195.07M-186.48M-177.93M-179.78M-197.33M
Share Repurchases----------
Other Financing-764.31M-22.83M-9.39M-10.85M-9.14M-22.57M-14.03M-7.5M-4.97M-12.98M
Net Change in Cash----------
Free Cash Flow+432.47M460.84M751.42M511.05M27.28M573.14M746.58M752.14M657.18M598.85M
FCF Margin %0.14%0.15%0.24%0.17%0.01%0.17%0.22%0.22%0.18%0.16%
FCF Growth %-0.14%0.07%0.63%-0.32%-0.95%20.01%0.3%0.01%-0.13%-0.09%
FCF per Share1.722.153.572.470.143.044.354.874.574.36
FCF Conversion (FCF/Net Income)1.42x1.35x1.39x1.44x-14.48x1.07x1.46x1.48x1.21x1.12x
Interest Paid59.06M87.19M84.32M82.44M87.43M103.86M81.96M69.55M75.69M74.64M
Taxes Paid165.15M163.54M8.28M132.98M89.2M236.46M31.69M-131.17M226.82M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)40.33%-935.21%115.2%-2.22%223.1%184.65%454.42%970.69%674.99%
Return on Invested Capital (ROIC)126.09%129.71%126.45%102.18%16.56%42.29%42.21%50.38%61.01%58.29%
Gross Margin44.52%45.84%44.94%43.23%35.13%46.04%45.68%44.6%44.84%44.53%
Net Margin12.32%13.47%19.4%13.65%-0.29%17.1%15.99%15.95%16.49%16.11%
Debt / Equity64.55x-7.79x2.76x29.59x6.30x9.08x60.35x21.66x22.78x
Interest Coverage9.18x7.70x8.41x7.07x1.91x7.20x8.44x10.26x10.18x10.60x
FCF Conversion1.42x1.35x1.39x1.44x-14.48x1.07x1.46x1.48x1.21x1.12x
Revenue Growth-1.32%-0.06%4.07%-2.06%-14.71%29.33%1.44%0.26%3.98%4.17%

Revenue by Segment

2016201720182019202020212022202320242025
Service---------3.47B
Service Growth----------
Royalty---------287.06M
Royalty Growth----------
Tax Preparation Fees---1.86B1.53B2.04B2.09B2.17B2.27B-
Tax Preparation Fees Growth-----17.52%32.73%2.92%3.46%4.97%-
DIY Tax Preparation Fees---260.08M208.9M313.06M319.09M314.76M349.81M-
DIY Tax Preparation Fees Growth-----19.68%49.86%1.93%-1.36%11.14%-
International---220.56M180.06M249.87M231.34M235.13M247.12M-
International Growth-----18.36%38.77%-7.42%1.64%5.10%-
Royalties---243.54M193.41M226.25M225.24M210.63M204.8M-
Royalties Growth-----20.58%16.98%-0.45%-6.49%-2.77%-
Refund Transfer Revenues---169.99M154.69M163.33M162.89M143.31M142.25M-
Refund Transfer Revenues Growth-----9.00%5.59%-0.27%-12.02%-0.74%-
Wave HQ Inc.-----58.28M80.97M90.31M96.47M-
Wave HQ Inc. Growth------38.93%11.55%6.82%-
Peace of Mind Revenues---108.11M105.19M98.88M94.64M-93.09M-
Peace of Mind Revenues Growth-----2.71%-5.99%-4.29%---
Fees from Emerald Card---98.26M92.74M136.72M125.44M84.65M76.09M-
Fees from Emerald Card Growth-----5.62%47.42%-8.25%-32.52%-10.11%-
Other revenue---41.5M42.06M38.45M45.96M45.25M51.55M-
Other revenue Growth----1.34%-8.59%19.55%-1.54%13.93%-
Interest and Fee Income on Emerald Advance---58.18M60.87M53.43M43.98M47.55M40.93M-
Interest and Fee Income on Emerald Advance Growth----4.61%-12.22%-17.68%8.12%-13.92%-
Tax Identity Shield---35.66M31.8M40.62M39.11M38.27M33.39M-
Tax Identity Shield Growth-----10.84%27.76%-3.72%-2.17%-12.75%-
Peace of Mind Company-Owned105.35M113.81M115.6M-------
Peace of Mind Company-Owned Growth-8.03%1.57%-------

Revenue by Geography

2016201720182019202020212022202320242025
Foreign209.8M---------
Foreign Growth----------

Frequently Asked Questions

Valuation & Price

H&R Block, Inc. (HRB) has a price-to-earnings (P/E) ratio of 9.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

H&R Block, Inc. (HRB) reported $3.77B in revenue for fiscal year 2025. This represents a 30% increase from $2.89B in 2012.

H&R Block, Inc. (HRB) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, H&R Block, Inc. (HRB) is profitable, generating $612.5M in net income for fiscal year 2025 (16.1% net margin).

Dividend & Returns

Yes, H&R Block, Inc. (HRB) pays a dividend with a yield of 3.37%. This makes it attractive for income-focused investors.

H&R Block, Inc. (HRB) has a return on equity (ROE) of 675.0%. This is excellent, indicating efficient use of shareholder capital.

H&R Block, Inc. (HRB) generated $576.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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