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US tax preparation company offering in-person and DIY online/software tax filing, plus small-business bookkeeping services.
US tax preparation company offering in-person and DIY online/software tax filing, plus small-business bookkeeping services.
Earns a fee for each return prepared in its offices or filed with its software, plus fees on refund-linked products such as refund advances and prepaid cards, so most income arrives in a few months from January to April. Offices are both company-owned and franchised, and franchisees pay royalties.
Moat: narrow (brand, scale, distribution). Largest retail tax-office network and trusted brand give scale, though DIY software competes it down.
Headquarters: Kansas City, Missouri, US · Founded: 1955 · Employees: 73,400
Size H&R Block (HRB) is a United States Consumer Discretionary company (Other Consumer Services) with a market value of $6.45B, the 1008th largest of 3,117 United States companies the cockpit tracks. Shares closed at $52.69 on 6 Nov 2026.
Performance Over six months the shares gained 42.6%, against +0.2% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 4.9% over the last twelve months (peer median +12.9%); the operating margin is 23.9% (peer median 13.3%).
Valuation It trades at 8.4× forward earnings against a peer median of 17.5× (3rd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 53.5 points above its cost of capital (6.5% WACC).
Credit H&R Block has 3 bonds outstanding ($1.50B), rated BBB by the agencies and trading like BBB- at a weighted spread of 118 bp.
Short interest Short interest is 15.2% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $3.95B | $3.95B | $3.76B | $3.61B | $3.47B |
| Revenue growth | — | +5% | +4% | +4% | — |
| Gross profit | $1.75B | $1.75B | $1.67B | $1.62B | $1.55B |
| EBITDA | $1.07B | $1.07B | $983M | $956M | $891M |
| Net income | $727M | $730M | $603M | $593M | $551M |
| Free cash flow | $756M | $756M | $599M | $657M | $752M |
| Capital expenditure | $82.6M | $82.6M | $82.0M | $63.7M | $69.7M |
| Total debt | $2.10B | $2.10B | $2.03B | $1.96B | $1.93B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| H&R Block HRB | $6.45B | +43% | +5% | 24% | 8.4× | -15.4% |
| Intuit INTU | $91.3B | -14% | +14% | 29% | 14.8× | 3.1% |
| Andersen ANDG | $7.34B | +78% | +18% | 14% | 32.4× | 29.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HRB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.2% | +6.4% | 3rd highest of 21 |
| 6-month return | +42.6% | +0.2% | 4th highest of 21 |
| Distance from 52-week high | -10.2% | -18.4% | 7th highest of 21 |
| Revenue growth (TTM) | +4.9% | +12.9% | 8th lowest of 21 |
| Operating margin | 23.9% | 13.3% | 4th highest of 21 |
| Forward P/E | 8.4× | 17.5× | 3rd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -15.4% | 6.5% | 3rd least demanding of 18 |
| Growth delivered (Del g) | +2.9% | +16.0% | 3rd lowest of 18 |
| Hurdle (Req g minus delivered) | -18.4 pp | -17.7 pp | 9th least demanding of 18 |
| ROIC minus cost of capital | +53.5 pp | +4.3 pp | 3rd highest of 20 |
| EV / EBITDA | 7.1× | 11.2× | 5th cheapest of 19 |
| Net debt / EBITDA | 1.1× | 1.5× | 8th least indebted of 19 |
| Bond spread | 118 bp | 159 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| H&R Block HRB | United States | $6.45B | +43% | +5% | 24% | 8.4× | -15.4% | +2.9% |
| Andersen ANDG | United States | $7.34B | +78% | +18% | 14% | 32.4× | 29.0% | +18.0% |
| New Oriental Education & Technology 9901.HK | Hong Kong | $7.58B | -3% | +21% | 12% | 12.8× | -16.4% | +5.9% |
| Graham GHC | United States | $5.05B | +7% | +4% | 6% | 16.4× | 8.6% | +11.2% |
| Kakaku.com 2371.T | Japan | $4.63B | +42% | +17% | 27% | 31.3× | 4.6% | +13.0% |
| Planet Fitness PLNT | United States | $4.56B | +31% | +13% | 31% | 17.3× | 4.8% | +26.6% |
| Valvoline VVV | United States | $4.44B | -2% | +16% | 18% | 19.4× | 10.3% | -6.2% |
| Tui TUI1.DE | Germany | $4.31B | +17% | -2% | 4% | 7.4× | -2.0% | +24.9% |
| Service Corporation International SCI | United States | $10.0B | -5% | +3% | 22% | 17.5× | 3.4% | +4.2% |
| Life Time LTH | United States | $10.6B | +48% | +13% | 17% | 26.7× | n/a | n/a |
| Indian Railway Catering & Tourism IRCTC.NS | India | $3.87B | -20% | +15% | 30% | 24.2× | 28.7% | +46.4% |
| Marriott Vacations Worldwide VAC | United States | $3.80B | +43% | +5% | 11% | 11.4× | 7.7% | +11.8% |
| Covista CVSA | United States | $3.67B | -18% | +9% | 20% | 12.0× | -3.7% | +16.6% |
| Jet2 JET2.L | United Kingdom | $3.61B | +34% | +4% | 6% | 11.1× | n/a | n/a |
| Tongcheng Travel 0780.HK | Hong Kong | $3.38B | -37% | +15% | 17% | 6.1× | -15.0% | +25.8% |
| Ferrotec (An Hui) Technology Development 301297.SZ | China | $3.21B | -30% | +37% | 10% | n/a | n/a | n/a |
| Stride LRN | United States | $3.15B | -15% | +2% | 19% | 9.5× | -19.1% | +10.4% |
| OneSpaWorld OSW | United States | $3.12B | +25% | +10% | 10% | 24.5× | 19.5% | +51.4% |
| Peloton Interactive PTON | United States | $2.50B | -1% | -2% | 9% | 18.7× | 7.2% | -9.5% |
| Boyd Group Services BYD.TO | Canada | $2.48B | -24% | +16% | 5% | 22.1× | 9.4% | +16.0% |
| Basic-Fit BFIT.AS | Netherlands | $2.23B | +2% | +18% | 12% | 22.0× | 6.5% | +30.4% |
H&R Block has 3 bonds outstanding with $1.50B face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 5.71%, a spread of 118 bp over government bonds.