H&R Block, Inc.
HRB · Consumer Discretionary · $5.5B mkt cap · FY2025 filings · · not refreshed in 37 days · Not rated ·
Not rated
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.).
19 years of fundamentals
The business, in plain English
H&R Block, Inc. booked $3.8B of revenue in FY2025 in the Consumer Discretionary sector and kept 44.5% of it as gross profit — a solid-margin business by that measure. After every other cost, 16.1% of each revenue dollar reached the bottom line.
Across the filed record, revenue shrank from $4.1B (FY2008) to $3.8B (FY2025) — about −0.5% a year compounded over 17 years.
ROIC is not available for the latest filed year, FY2025. Across the full 7-year measurable filed record, median ROIC was 87.2%.
The balance sheet carried $1.5B of total debt in FY2025 against $641M of owner earnings — roughly 2.3 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.
Gaps in a line mean that item isn’t in HRB’s 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.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
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
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
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.
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 year 48% vs the S&P 500’s −20% (price basis) · median over 1 year
- 3 years 138% vs the S&P 500’s 22% (price basis) · median over 1 year
- 5 years None 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.
Consumer Discretionary leaders by Moat Score
- #1MEDP Medpace Holdings, Inc.98.1 out of 100, Wide moatWide moat
- #2LULU lululemon athletica inc.96.4 out of 100, Wide moatWide moat
- #3ANF Abercrombie & Fitch Co.96.3 out of 100, Wide moatWide moat
Common questions about HRB
- Does H&R Block, Inc. have an economic moat?
- 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 $53.14 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $40.83, that is 23% 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 16 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.