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HRB

H&R Block, Inc.

HRB

H&R Block, Inc. • NYSE
$42.12 ▲ 0.96% (+0.40)
Market Cap $5.63 B
52w High $64.62
52w Low $41.38
Dividend Yield 1.68%
P/E 9.59
Volume 979.87K
Outstanding Shares 133.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $203.551M ▼ $113.343M ▼ $-165.819M ▼ -81.463% ▼ $-1.26 ▼ $-170.007M ▼
Q4-2025 $1.111B ▼ $206.803M ▼ $299.439M ▼ 26.952% ▼ $2.23 ▼ $413.19M ▼
Q3-2025 $2.277B ▲ $329.399M ▲ $722.33M ▲ 31.721% ▲ $5.38 ▲ $1.012B ▲
Q2-2025 $179.07M ▼ $158.152M ▲ $-243.42M ▼ -135.936% ▼ $-1.8 ▼ $-261.352M ▼
Q1-2025 $193.81M $152.56M $-172.576M -89.044% $-1.23 $-187.583M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $376.41M ▼ $2.621B ▼ $3.172B ▼ $-550.91M ▼
Q4-2025 $983.277M ▲ $3.264B ▲ $3.175B ▲ $88.896M ▲
Q3-2025 $415.86M $2.55B $2.918B $-368.065M
Q2-2025 $415.86M ▼ $2.55B $2.918B $-368.065M
Q1-2025 $439.017M $2.55B $2.918B $-368.065M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-165.819M ▼ $-356.838M ▼ $-20.926M ▼ $-225.025M ▼ $-605.738M ▼ $-370.026M ▼
Q4-2025 $299.439M ▼ $251.561M ▼ $5.517M ▲ $-51.937M ▲ $213.449M ▼ $241.311M ▼
Q3-2025 $722.33M ▲ $1.325B ▲ $-23.397M ▲ $-854.104M ▼ $448.166M ▲ $1.302B ▲
Q2-2025 $-243.42M ▼ $-567.057M ▼ $-61.099M ▼ $543.048M ▲ $-97.493M ▲ $-597.437M ▼
Q1-2025 $-172.576M $-328.581M $-26.394M $-284.45M $-636.176M $-347.316M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q1-2026
DIY Tax Preparation Fees
DIY Tax Preparation Fees
 $0 ▲$10.00M ▲$210.00M ▲$0 ▼
Fees from Emerald Card
Fees from Emerald Card
 $10.00M ▲$10.00M ▲$40.00M ▲$10.00M ▼
International
International
 $60.00M ▲$30.00M ▼$60.00M ▲$70.00M ▲
Other revenue
Other revenue
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Peace of Mind Revenues
Peace of Mind Revenues
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Refund Transfer Revenues
Refund Transfer Revenues
 $0 ▲$0 ▲$110.00M ▲$0 ▼
Royalties
Royalties
 $10.00M ▲$0 ▼$130.00M ▲$10.00M ▼
Tax Identity Shield
Tax Identity Shield
 $0 ▲$0 ▲$10.00M ▲$0 ▼
Tax Preparation Fees
Tax Preparation Fees
 $40.00M ▲$50.00M ▲$1.64Bn ▲$50.00M ▼
Wave HQ Inc
Wave HQ Inc
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Interest and Fee Income on Emerald Advance
Interest and Fee Income on Emerald Advance
 $0 ▲$10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement H&R Block’s income statement shows a mature, fairly steady business with modest growth. Revenue has inched up over the past several years, and profits have generally moved in the same direction, suggesting the core tax-prep franchise is stable rather than rapidly expanding. Margins look healthy and relatively consistent, which points to good cost control in a seasonal, service-heavy business. Earnings per share have grown faster than profits, which likely reflects ongoing share buybacks shrinking the share count rather than dramatic underlying business acceleration.

Balance Sheet

Balance Sheet The balance sheet is functional but quite leveraged. The company carries a meaningful amount of debt relative to its asset base, and reported equity is very thin, which is often a sign of heavy share repurchases over time. On the positive side, cash levels are sizable, providing a liquidity cushion and flexibility around the intense tax season. On the risk side, the reliance on debt and slim equity base heighten sensitivity to interest costs and refinancing conditions, so the capital structure is something to watch over the long term.

Cash Flow

Cash Flow Cash flow is a key strength. The business consistently turns its earnings into cash, with solid operating cash flow and free cash flow year after year. Capital spending needs are relatively low for a company of this size, which helps keep free cash flow strong. This dependable cash generation supports debt service, dividends, and buybacks, and provides room to invest in technology and new offerings without stretching the balance sheet too far—assuming cash returns to shareholders remain disciplined.

Competitive Edge

Competitive Edge Competitively, H&R Block benefits from a long-established brand, trust built over decades, and a large physical network that many rivals cannot match. Its hybrid approach—letting customers move between online tools and in-person tax professionals—serves different comfort levels and complexity of tax needs. Against this, it faces intense pressure from digital-first players like TurboTax and from the potential expansion of free government filing for simpler returns. Its advantage is strongest in more complex situations, among customers who value human advice, and with small businesses that need year-round support rather than one-off filing help.

Innovation and R&D

Innovation and R&D Innovation is focused on improving the customer experience and broadening the relationship beyond tax season. The company is leaning into artificial intelligence through tools like AI Tax Assist, upgrading its customer service systems, and modernizing its data platform in the cloud. It is also pushing into adjacent areas: small business services (Block Advisors and Wave) and consumer financial products (such as Spruce and refund-related offerings). The “Block Horizons 2025” plan ties these pieces together, aiming to make H&R Block more of a year-round financial partner. The big question is execution: success depends on adoption of these newer services and their ability to offset any pressure on the core tax-prep business.

Summary

Overall, H&R Block looks like a mature, cash-generative company in a changing industry. Its financial results show steady, not spectacular, growth with strong cash conversion and significant capital returned to shareholders, but supported by a leveraged balance sheet. Strategically, its strengths lie in brand, trust, a broad physical presence, and a flexible mix of digital and in-person services. At the same time, it must navigate structural shifts: more capable DIY software, potential expansion of free government filing, and evolving expectations for digital experiences. The key factors to monitor are how well its AI and hybrid service model deepen customer loyalty, how effectively it grows small business and financial product revenues, and whether its debt-heavy capital structure remains comfortable under different economic and interest-rate conditions.

NEWS

November 6, 2025 · 4:05 PM UTC

H&R Block Reports Fiscal 2026 First Quarter Results and Reaffirms Fiscal 2026 Outlook

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November 4, 2025 · 4:30 PM UTC

H&R Block Announces Quarterly Cash Dividend

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October 29, 2025 · 8:30 AM UTC

Apply for an H&R Block Emerald Advance® Loan: Up to $1,500 for End of Year Expenses

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October 23, 2025 · 4:15 PM UTC

H&R Block to Release Fiscal 2026 First Quarter Results on November 6, 2025

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September 4, 2025 · 9:30 AM UTC

Spruce Launches Saving Surge Sweepstakes Encouraging Customers to Build Better Financial Habits and Awarding Nearly $5,000 in Total Prizes

Read more