H&R BLOCK INC
HRB · Services-Personal Services · 126.8M shares · -7%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$24M (gross $7M, SBC $31M)
Reference price $44.54 · est. market cap ~$5.6B — last insider sale, 2025-11-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Dominant assisted tax-prep brand with high margins, strong cash generation and elevated returns, but slow growth and secular threats.
Strengths
- High-margin franchise: net margin 16% (80th), ROA 18.6% (82nd), OCF margin 18% (80th pct)
- Robust FCF ($599M, 86th pct) and category-leading brand with pricing power
Risks
- Slow ~4% revenue growth and structural risk from IRS encroachment/free-file and DIY competition
- Negative book equity (debt/equity 12.9x) from buybacks distorts ROE
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 12.86)
- Weak liquidityCurrent ratio 0.90 (<1)
- Buying back stockNet buyback — share count -7%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
44.5%
Net margin
16.1%
Return on equity
681.4%
Return on assets
18.6%
Revenue growth (QoQ)
4.2%
Net-income growth
1.8%
Debt / equity
12.9×
Current ratio
0.9×
Free cash flow
$599M
Tangible book value
-$973M
Cash & investments
$983M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Campbell Curtis A | Tax withheld | 1.0K | $37.96 |
| 2026-01-22 | Plaines Stephanie | Grant | 3.7K | — |
| 2026-01-22 | Charnaux Christian H. | Grant | 3.7K | — |
| 2026-01-22 | Breig Geralyn | Grant | 3.7K | — |
| 2026-01-05 | Darling Mark J. | Grant | 1.5K | — |
| 2026-01-05 | Campbell Curtis A | Grant | 17K | — |
| 2025-11-19 | Jones Jeffrey J II | Option exercise | 129K | $29.73 |
| 2025-11-19 | Jones Jeffrey J II | Gift | 45K | — |
| 2025-11-19 | Jones Jeffrey J II | Sell | 129K | $44.54 |
| 2025-11-12 | Jones Jeffrey J II | Option exercise | 145K | $29.73 |
| 2025-11-12 | Jones Jeffrey J II | Sell | 176K | $46.46 |
| 2025-11-05 | Cohan Sean | Grant | 3.9K | — |
| 2025-11-05 | Gerard Robert A | Grant | 3.9K | — |
| 2025-11-05 | Gupta Anuradha | Grant | 3.9K | — |
| 2025-11-05 | Johnson Richard A | Grant | 10K | — |
| 2025-11-05 | Mends Mia | Grant | 3.9K | — |
| 2025-11-05 | REICH VICTORIA | Grant | 3.9K | — |
| 2025-11-05 | Winter Matthew E | Grant | 3.9K | — |
| 2025-11-01 | Wasleski April M. | Grant | 3.3K | — |
| 2025-08-31 | Logerwell Kellie J | Grant | 2.1K | — |
| 2025-08-31 | Logerwell Kellie J | Tax withheld | 2.9K | $50.35 |
| 2025-08-31 | Redler Dara S | Grant | 9.4K | — |
| 2025-08-31 | Redler Dara S | Grant | 3.5K | — |
| 2025-08-31 | Redler Dara S | Tax withheld | 11K | $50.35 |
| 2025-08-31 | Manuel Scott | Grant | 10K | — |
| 2025-08-31 | Manuel Scott | Grant | 5.2K | — |
| 2025-08-31 | Manuel Scott | Tax withheld | 1.3K | $50.35 |
| 2025-08-31 | Mason Tiffany L | Grant | 10K | — |
| 2025-08-31 | Mason Tiffany L | Grant | 5.2K | — |
| 2025-08-31 | Mason Tiffany L | Tax withheld | 1.1K | $50.35 |
| 2025-08-31 | Jones Jeffrey J II | Grant | 58K | — |
| 2025-08-31 | Jones Jeffrey J II | Tax withheld | 70K | $50.35 |
| 2025-08-31 | Campbell Curtis A | Grant | 12K | — |
| 2025-08-31 | Campbell Curtis A | Tax withheld | 1.1K | $50.35 |
| 2025-08-13 | Redler Dara S | Grant | 16K | — |
| 2025-08-13 | Logerwell Kellie J | Grant | 4.4K | — |
| 2025-08-13 | Jones Jeffrey J II | Grant | 101K | — |
| 2025-06-03 | Campbell Curtis A | Tax withheld | 931 | $58.91 |
| 2025-04-16 | Jones Jeffrey J II | Sell | 54K | $63.28 |
| 2025-01-31 | Redler Dara S | Tax withheld | 3.5K | $55.31 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-02-03 | ResultsExhibits | filing ↗ |
| 2026-01-22 | Exec/director changeExhibits | filing ↗ |
| 2025-11-10 | Shareholder vote | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-09-19 | Exec/director change | filing ↗ |
| 2025-08-26 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-08-25 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-06 | 2026-05-06 | 0000012659-26-000015 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0000012659-26-000017 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0000012659-26-000008 ↗ |
| 8-K | 2026-02-03 | 2026-02-03 | 0000012659-26-000005 ↗ |
| 8-K | 2026-01-22 | 2026-01-20 | 0000012659-26-000003 ↗ |
| 8-K | 2025-11-10 | 2025-11-05 | 0000012659-25-000018 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0000012659-25-000016 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0000012659-25-000014 ↗ |
| 8-K/A | 2025-09-19 | 2025-08-13 | 0000012659-25-000006 ↗ |
| 8-K | 2025-08-26 | 2025-08-26 | 0001104659-25-083093 ↗ |
| 8-K | 2025-08-25 | 2025-08-19 | 0001104659-25-082524 ↗ |
| 8-K | 2025-08-15 | 2025-08-13 | 0001605297-25-000017 ↗ |