BFAM vs HRB: Bright Horizons Family Solutions 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.
- H&R Block is the larger company, worth $6.0B, about 1.7 times Bright Horizons Family Solutions.
- Bright Horizons Family Solutions grew revenue faster over the last year (+6.5% vs +3.0%).
- H&R Block keeps more of each dollar of revenue as operating profit (23.0% vs 10.3%).
- On earnings, H&R Block is the cheaper stock (8.5x vs 20.8x).
- Bright Horizons Family Solutions's price assumes faster free cash flow growth: about 0% 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 | BFAM | HRB |
|---|---|---|
| Market cap | $3.6B | $6.0B |
| Share price | $69.45 | $44.05 |
| Revenue (last fiscal year) | $2.9B | $3.9B |
| Free cash flow (last fiscal year) | $259M | $756M |
| Revenue growth, last year | +6.5% | +3.0% |
| Revenue growth per year, last 5 fiscal years | +13.7% | +3.3% |
| Operating margin | 10.3% | 23.0% |
| Net margin | 5.8% | 18.6% |
| Return on equity | 18.6% | 624.4% |
| P/E (trailing) | 20.8x | 8.46x |
| Price / free cash flow | 14.1x | 10.0x |
| EV / EBITDA | 13.5x | 6.60x |
| FCF growth the price implies | 0.34% | -7.3% |
| Dividend yield | — | 3.6% |
| Debt / equity | 3.02x | 26.7x |
| Fundamental grade | D | C |
| Superinvestors holding it | 4 | 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.
Bright Horizons Family Solutions
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.8B | $164M | 7.4% |
| 2022 | $2.0B | $118M | 7.8% |
| 2023 | $2.4B | $165M | 7.1% |
| 2024 | $2.7B | $240M | 9.2% |
| 2025 | $2.9B | $259M | 10.7% |
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
Bright Horizons Family Solutions · by segments, 2025
Full service center-based child care$2.1B71%
Back-up care$728M25%
Educational advisory services$124M4%
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 BFAM in InvestinglyQuestions
Which is bigger, Bright Horizons Family Solutions or H&R Block?
H&R Block (HRB), at $6.0B against $3.6B.
Is BFAM or HRB cheaper?
By trailing P/E, H&R Block (8.46x) is cheaper than Bright Horizons Family Solutions (20.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, BFAM or HRB?
Bright Horizons Family Solutions: revenue grew +6.5% 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.