ANDG vs HRB: Andersen and H&R Block compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Andersen is the larger company, worth $6.9B, close to H&R Block's $6.0B.
- Andersen grew revenue faster over the last year (+14.6% vs +3.0%).
- H&R Block keeps more of each dollar of revenue as operating profit (23.0% vs -16.1%).
- Andersen's price assumes faster free cash flow growth: about 14% a year, against -7% for H&R Block (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ANDG | HRB |
|---|---|---|
| Market cap | $6.9B | $6.0B |
| Share price | $56.82 | $44.05 |
| Revenue (last fiscal year) | $839M | $3.9B |
| Free cash flow (last fiscal year) | $174M | $756M |
| Revenue growth, last year | +14.6% | +3.0% |
| Revenue growth per year, last 5 fiscal years | +14.6% | +3.3% |
| Operating margin | -16.1% | 23.0% |
| Net margin | -0.28% | 18.6% |
| Return on equity | — | 624.4% |
| P/E (trailing) | — | 8.46x |
| Price / free cash flow | 39.5x | 10.0x |
| EV / EBITDA | — | 6.60x |
| FCF growth the price implies | 13.9% | -7.3% |
| Dividend yield | — | 3.6% |
| Debt / equity | — | 26.7x |
| Fundamental grade | D | C |
| Superinvestors holding it | 1 | 1 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Andersen
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $639M | $113M | 18.3% |
| 2024 | $732M | $144M | 17.7% |
| 2025 | $839M | $174M | -16.1% |
H&R Block
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $3.5B | $747M | 21.5% |
| 2023 | $3.5B | $752M | 21.6% |
| 2024 | $3.6B | $657M | 22.3% |
| 2025 | $3.8B | $599M | 22.0% |
| 2026 | $3.9B | $756M | 23.0% |
Where the revenue comes from
Andersen · by products, 2025
Private Client Services$432M51%
Business Tax Services$292M35%
Alternative Investment Funds$73M9%
Valuation Services$42M5%
H&R Block · by products, 2026
Service revenues$3.7B93%
Royalty, product and other revenues$281M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ANDG in InvestinglyQuestions
Which is bigger, Andersen or H&R Block?
Andersen (ANDG), at $6.9B against $6.0B.
Which grows faster, ANDG or HRB?
Andersen: revenue grew +14.6% over the last year, against +3.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.