We don't have enough comparable filing data to score at least four of the five filters for HRB, so we don't publish a composite. Missing: returnsOnCapital, balanceSheet. No composite: 2 components abstained (returnsOnCapital: Not enough years of ROIC data to score returns on capital.; balanceSheet: Insufficient leverage/coverage inputs to score the balance sheet.).
20 years of fundamentals
The business, in plain English
H&R BLOCK INC booked $3.9B of revenue in FY2026 in the Consumer Discretionary sector and kept 44.3% of it as gross profit — a solid-margin business by that measure. After every other cost, 18.6% of each revenue dollar reached the bottom line.
Across the filed record, revenue shrank from $4.1B (FY2008) to $3.9B (FY2026) — about −0.2% a year compounded over 18 years.
ROIC is not available for the latest filed year, FY2026. Across the full 7-year measurable filed record, median ROIC was 87.2%.
The balance sheet carried $1.5B of total debt in FY2026 against $773M of owner earnings — roughly 1.9 years of owner earnings to retire it all.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
FY2007–FY2026 · 20 fiscal years, normalized from HRB’s SEC filings
Sales, as filed$3.9B FY2026Revenue kept after cost of goods44.3% FY2026Standard ROIC or separately labeled Operating ROICStandard ROIC 142.1% FY2014
Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.
Cash an owner could take out$773M FY2026
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Flagship explainer
How H&R BLOCK INC makes its money
H&R BLOCK INC's filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
We could not retrieve insider activity for this rendering; no zero-activity claim is shown.
Unavailable: Form 4 activity could not be retrieved for this rendering.
Moat Score history
29 logged readings since Jul 17, 2026 · append-only, never rewritten
Moat Score over timeLast scored reading of each day, on the 0–100 scale
No composite readings yet — HRB’s filings don’t give the engine enough comparable data to score, and we log that honestly instead of guessing a number.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for HRB.
Track record
How H&R BLOCK INC’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
Point-in-time scores 2011–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight
Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year
How to read this: each dot is what the engine would have scored HRB on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the 1 year HRB rated Wide-moat (2021), the median forward total return that followed — measured only after each year’s filings were public — was:
1 year48%vs the S&P 500’s −20% (price basis)· median over 1 year
3 years138%vs the S&P 500’s 22% (price basis)· median over 1 year
5 yearsNone of the 1 year it rated Wide has a fully elapsed 5-year window with a benchmark to compare against yet.
These are medians computed from the data, not a claim about any one year. The company figures are total returns (dividends reinvested); the S&P 500 is the price-only ^GSPC index, which excludes dividends and so understates the index — the gap flatters the company. A quality rating is not a return forecast, and past returns don’t predict future ones. Educational only, not investment advice.
Consumer Discretionary context
Not ranked — HRB doesn’t have enough comparable filing data for a composite score, so we don’t place it on the board.
We don't publish a Moat Score for H&R BLOCK INC (HRB): its SEC filings don't provide enough comparable data to score at least four of the five filters, and the Index records each gap rather than a guessed number. Missing inputs: returns on capital, balance-sheet safety.
Is HRB trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $57.74 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $48.31, that is 16% below value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has HRB's Moat Score changed over time?
The record logs 29 readings since Jul 17, 2026, none with a composite — HRB hasn't had enough comparable filing data to score. No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.
Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell HRB. See the disclaimer.