# H&R Block, Inc. (HRB)

> Source: Nexqual · https://nexqual.com/HRB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, H&R Block, Inc. (HRB), nexqual.com/HRB" · informational, not investment advice.

**Price:** USD 50.08 (+4.70% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 47.83 · day 48.41–50.39 · 52w 28.16–58.67 · market cap $6.13B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.95B, net income $734M (18.6% margin), free cash flow $756M (SEC filings).
- Valuation: P/E 8.4x (avg 10.7x at the last 3 fiscal year-ends), net debt $533M.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $110K; 1 not under a Rule 10b5-1 plan ($110K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.80 on a 1–5 scale) (5 analysts), mean target USD 51.67 (range 36–60).
- Total return with dividends: 1Y +0.1% vs S&P 500 +14.9%; 5Y +140.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -1.41, revenue estimate $212M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.46B | $3.47B | $3.61B | $3.76B | $3.95B | $3.95B |
| Gross profit | $1.58B | $1.55B | $1.62B | $1.67B | $1.75B | — |
| Net income | $554M | $554M | $595M | $606M | $734M | $734M |
| EPS (diluted) | $3.22 | $3.51 | $4.12 | $4.39 | $5.66 | — |
| Free cash flow | $747M | $752M | $657M | $599M | $756M | $756M |
| Gross margin | 45.7% | 44.6% | 44.8% | 44.5% | 44.3% | — |
| Net margin | 16.0% | 15.9% | 16.5% | 16.1% | 18.6% | 18.6% |
| Revenue growth | — | +0.3% | +4.0% | +4.2% | +4.9% | — |
| Cash + short-term investments | — | $987M | $1.05B | $983M | $959M | — |
| Total debt | $1.49B | $1.49B | $1.49B | $1.49B | $1.49B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 8.4x · P/S 1.6x · EV/Sales 1.7x · P/FCF 8.1x · P/B 52.2x · FCF yield 12.33% · Earnings yield 11.96% · Dividend yield (paid, TTM) 3.44% · Net debt $533M · EV $6.67B
P/E at fiscal year-ends: Jun 2026 6.7x, Jun 2025 12.4x, Jun 2024 13.1x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-30 | Darling Mark J. | Chief Retail Officer | 2,700 | $110K | 11.1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.80 on a 1–5 scale), 5 analysts; mean target USD 51.67 (low 36, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-12 | Goldman Sachs | Target raised | Sell | $29 → $33 |
| 2026-08-12 | Barrington Research | Target raised | Outperform | $50 → $60 |
| 2026-07-28 | Stephens & Co. | Initiated | Equal-Weight | $47 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +0.1% | +140.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +0.1% | +19.1% |
| Volatility (annualized) | 46.6% | 33.5% |
| Max drawdown | -45.4% (Oct 2025→Feb 2026) | -51.3% (Sep 2024→Apr 2026) |

## Peers (Personal Services)
FTDR (frontdoor, inc.) USD 86.03 +6.41% · BFAM (Bright Horizons Family Solution) USD 70.94 +6.01% · SCI (Service Corporation Internation) USD 83.69 +3.12% · ROL (Rollins, Inc.) USD 35.31 +5.56% · ANDG (Andersen Group Inc.) USD 63.54 +4.30% · CSV (Carriage Services, Inc.) USD 36.98 +3.64%

## More
Full page: https://nexqual.com/HRB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HRB's own 10-K filed 2026-08-14 (https://www.sec.gov/Archives/edgar/data/12659/000001265926000026/hrb-20260630.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | PATHWARD FINANCIAL, INC. (CASH) | "Revenues are recognized when the Internal Revenue Service (IRS) filing acknowledgment is received and the bank account is established at our bank partner, Pathward®, N.A. (Pathward), a wholly-owned subsidiary of Pathward…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service revenues | $1.08B | 94.1% | +3.7% |
| — Assisted tax preparation (part of Service revenues) | $714.2M | 62.4% | +4.1% |
| — DIY tax preparation (part of Service revenues) | $148.8M | 13.0% | -2.2% |
| — International (part of Service revenues) | $94.9M | 8.3% | +5.6% |
| — Royalty, product and other revenues (part of Service revenues) | $67.0M | 5.9% | -6.0% |
| — Peace of Mind® Extended Service Plan (part of Service revenues) | $30.5M | 2.7% | -6.0% |
| — Refund Transfers (part of Service revenues) | $23.7M | 2.1% | +6.4% |
| Royalties | $46.3M | 4.0% | -6.6% |
| Other | $21.7M | 1.9% | +19.6% |
| Tax Identity Shield | $17.3M | 1.5% | +15.8% |
| Emerald Card® and SpruceSM | $12.2M | 1.1% | -10.7% |
| Interest and fee income on Emerald Advance® | $2.0M | 0.2% | -15.0% |
| Total revenue | $1.14B | 100% | — |
The lines above cover 102.8% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-1.41 | $-1.41 | -0.4% | $212.3M | 4 |
| Next quarter (ends 2026-12-31) | $-2.00 | $-2.18 | -8.5% | $209.0M | 4 |
| Current fiscal year (ends 2027-06-30) | $6.15 | $5.82 | +5.6% | $4.14B | 5 |
| Next fiscal year (ends 2028-06-30) | $6.92 | $7.74 | -10.6% | $4.31B | 5 |