H&R Block, Inc. (HRB) Stock

H&R Block, Inc. (HRB) is a Consumer Discretionary stock trading at $53.03 (as of 2026-08-20), with a market capitalization of $6.54B and a trailing P/E of 5.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

H&R Block, Inc., through its subsidiaries, provides income tax return preparation and related services to individuals and small businesses, primarily through retail offices and online. Services include assisted and do-it-yourself preparation, plus tax-refund and related financial products such as Refund Transfers and prepaid card and refund-advance offerings.

Understand H&R Block, Inc.: how it makes money

H&R Block provides assisted income tax return preparation through retail offices and do-it-yourself (DIY) tax preparation services and products, and it monetizes these offerings along with refund-related products such as Refund Transfers and the H&R Block Emerald Prepaid Mastercard.

H&R Block’s profit model ties client demand during tax season to fee-based assisted and DIY tax preparation, with additional revenue opportunities from refund-related financial products and related services (such as Refund Transfers, the Emerald Prepaid Mastercard, and Peace of Mind extended service plans).

Business quality (Strong): Segment-level revenue detail from the provided data does not add up cleanly to the stated total revenue, so segment KPIs and share cannot be reliably mapped.

Valuation: At 6× earnings, HRB trades 63% below the Personal Services average (17×). Note: one-time items can distort reported P/E.

Bull case

Retention and re-use signal: The company reports a “Second Look retention uplift” of 6.0 percent, suggesting some improvement in bringing clients back.
Product engagement with AI in tax workflows: AI TaxAssist usage is reported as 4,100,000 client messages and responses, indicating customers are actively using AI-assisted features within the experience.
Assisted and DIY platform breadth: H&R Block operates both retail assisted tax preparation and DIY tax preparation software/services, and also provides refund-related financial products (Refund Transfers and the Emerald Prepaid Mastercard).

Bear case

Assisted volume pressure: The company reports “Assisted volume decline” of 3.0 percent, which can weigh on core assisted revenue drivers.
Refund-related outcomes may vary: The company reports “Clients who owed the Internal Revenue Service decline” of 25.0 percent, which could reflect mix shifts in outcomes that may affect refund-related offerings.
DIY scale is still building: DIY-related metrics provided include Wave revenue (0.03 USD_B) and DIY tax preparation software revenue (0.02 USD_B), implying DIY revenue streams may be smaller relative to the overall business mix.

Valuation — source: SEC EDGAR (first-party)
Price	$53.03
Market Cap	$6.54B
P/E Ratio	5.6
EV / EBITDA	4.4
Price / Book	55.64
Price / Sales	1.29
FCF Yield	-7.8%
DCF Value (model)	$106.20
DCF Upside vs Price	100.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.95B
Net Margin	18.6%
Revenue Growth (YoY)	4.9%
EPS Growth (YoY)	28.5%
FCF Growth (YoY)	26.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.39 (safe)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Stock P/E	5.6
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Personal Services)	13.9
vs Sector	-72.5%
vs Industry	-59.4%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($580.22M)
Institutional Holders Tracked	10
Congressional Trades (recent)	2

Company
Sector	Consumer Discretionary
Industry	Personal Services
CEO	Curtis A. Campbell
Employees	4,200
Country	US
IPO Date	1962-02-13

Related Companies (Business model: Brick-and-Mortar Retail (incl. Omnichannel); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.