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H&R Block

HRB
67
Personal Products & Services · Consumer Cyclical
Also trades as: 0HOB.L GBP 0.50 (+0.81%)
Price
$49.69
-0.39 (-0.78%)
Market Cap
$6.09B
Winston Score
67
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Exceptional
30/30
Growth
Good
10/20
Cash Flow
Exceptional
9/10
Stability
Mixed
4/10
Valuation
Strong
8/10
Ownership
Weak
2/15
Dividends
Strong
4/5

67 of 100 counted points = Winston Score 67.

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Share count falling — buybacks

−25.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 171.4M (2022) → 127.0M (2026)

§Winston Score History

The full picture

H&R Block helps everyday people file their taxes. It offers in-person tax preparation at retail offices, a do-it-yourself online filing product, and tax software you can buy and install at home. The main customers are individual taxpayers, including people with simple returns and small business owners. H&R Block is one of the largest consumer tax preparation companies in the United States.

The company makes money by charging fees for each tax return it prepares or helps file, whether in a physical office or through its digital products. It operates primarily in the United States, with some presence in Canada and Australia, and generates most of its revenue during the January-to-April tax season. Its large network of retail locations and a recognizable brand give it a durable position, but the main risk is that the IRS or government-backed free filing programs could reduce demand for paid tax preparation services over time.

Politician Trades

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2 Congressional buys and 2 sells on HRB in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.0% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

+3.6% YoY

Quarterly reporting periods ended:

30 Jun 2025: $2.23

30 Jun 2026: $2.3099999999999996

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

1.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$959M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

H&R Block is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
72.4%
Premium pricing power — 72.4% gross margin
Profit after running costs
Operating Margin
32.9%
Excellent — 32.9% operating margin
Return on the money invested
ROCE
45.9%
Exceptional — 45.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+4.9%
Slow sales growth (+4.9% YoY)
Profit growth
EPS YoY
+26.9%
Earnings growing fast (+26.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
114%
Turns 114% of profit into real cash
Spare cash per sale
FCF Margin
19.2%
Converts sales into free cash efficiently (19.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
17.89
Heavy debt load (17.89)
Covers its interest
Interest Cover
12.64x
Comfortably covers interest (12.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
8.6x
Attractive valuation — P/E 8.6

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
+1.1
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
4.00%
Moderate income — 4.00% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+11.3%
Dividend growing fast (11.3% YoY)
Payout Ratio
29%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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