H&R Block (HRB)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $5.8B, H&R Block's free cash flow of $756M (fiscal 2026) would need to grow about -8% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from H&R Block's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from HRB's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from H&R Block's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $3.5B | $3.5B | $3.6B | $3.8B | $3.9B |
| Net income | $554M | $554M | $595M | $606M | $734M |
| Free cash flow | $747M | $752M | $657M | $599M | $756M |
| EPS (diluted) | $3.22 | $3.51 | $4.12 | $4.39 | $5.66 |
| Operating margin | 21.5% | 21.6% | 22.3% | 22.0% | 23.0% |
Where the revenue comes from
Revenue by products, fiscal 2026.
Superinvestors who own HRB
From each investor's latest 13F filing (what a 13F shows). 1 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $366M | 0.13% | Q2 2026 |
Insider buying
Open-market purchases by H&R Block's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
What growth does H&R Block's stock price imply?
At a market value of $5.8B, H&R Block would need its free cash flow to grow about -8% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 6% a year.
Are H&R Block insiders buying the stock?
No open-market insider purchases of HRB in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own H&R Block?
1 of the superinvestors Investingly tracks hold HRB in their latest 13F, including Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.