HRBNYSE

H&R BLOCK INC

Services-Personal Services · MO · CIK 12659

H&R Block provides tax preparation, financial products, and small business solutions globally

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$4.63B

Market cap

$38.22

Last close

+2.7%

+12.3%

2.2M

Volume

Price · last 39 sessions+23.0%

May 4L $29.32 · H $39.80Jun 29

328

Total filings

May 6, 2026

Last filing

06/30

Fiscal year end

All 8-K · 186 10-Q · 48 DEFA14A · 20 11-K · 19 DEF 14A · 16 SC 13G · 15 10-K · 15 424B5 · 5

Insider Activity

In the 90 days to Nov 19, 2025: 1 sold $13.9M.

Date	Insider	Action	Shares	Price	Value
Nov 19, 2025	Jones Jeffrey J IiPresident & CEO	Sell	128,818	$44.54	$5.7M
Nov 12, 2025	Jones Jeffrey J IiPresident & CEO	Sell	176,449	$46.46	$8.2M

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

What Changed

Risk factors · Aug 15, 2024 → Aug 15, 2025

28 added · 24 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

The reconciliation between the statutory U.S. federal tax rate and our effective tax rate from continuing operations is as follows: Year ended June 30, 2025 2024 2023 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % Change in tax rate resulting from: State income taxes, net of federal income tax benefit 1.3 % 1.4 % 1.6 % Earnings taxed in foreign jurisdictions ( 2.1 ) % ( 1.9 ) % ( 2.9 ) % Permanent differences 0.7 % 0.7 % 0.6 % Uncertain tax positions 1.9 % ( 0.4 ) % ( 0.9 ) % U.S. tax on income from foreign affiliates 1.7 % 4.1 % 3.1 % Federal income tax credits ( 1.6 ) % ( 2.4 ) % ( 1.3 ) % Foreign investment recapture — % 2.6 % — % Change in valuation allowance - domestic 0.3 % — % ( 0.4 ) % Change in valuation allowance - foreign — % ( 2.8 ) % 0.7 % Other ( 1.2 ) % ( 0.7 ) % ( 0.5 ) % Effective tax rate 22.0 % 21.6 % 21.0 % The components of income tax expense for continuing operations are as follows: (in 000s) Year ended June 30, 2025 2024 2023 Current: Federal $ 143,298 $ 191,664 $ 97,430 State 30,716 9,695 19,023 Foreign 21,689 18,240 18,214 195,703 219,599 134,667 Deferred: Federal ( 52,659 ) ( 59,441 ) 23,367 State ( 4,454 ) ( 11,749 ) 1,860 Foreign 33,363 15,950 ( 10,482 ) ( 23,750 ) ( 55,240 ) 14,745 Total income taxes for continuing operations $ 171,953 $ 164,359 $ 149,412 H&R Block, Inc. | 2025 Form 10-K 55 In the United States, on July 4, 2025, H.R. 1 was signed into law.
The significant components of deferred tax assets and liabilities are reflected in the following table: (in 000s) As of June 30, 2025 June 30, 2024 Deferred tax assets: Deferred revenue 33,435 50,944 Allowance for credit losses 30,098 30,581 Deferred and stock-based compensation 7,204 8,060 Net operating loss carry-forward 38,856 63,398 Lease liabilities 130,911 117,483 Federal tax benefits related to state unrecognized tax benefits 31,061 26,841 Internally developed software 84,301 15,063 Intangibles - intellectual property 61,138 71,367 Other 22,121 6,056 Valuation allowance ( 18,538 ) ( 16,569 ) Total deferred tax assets 420,587 373,224 Deferred tax liabilities: Prepaid expenses and other ( 20,396 ) ( 3,001 ) Lease right of use assets ( 128,204 ) ( 115,128 ) Intangibles ( 43,879 ) ( 51,398 ) Total deferred tax liabilities ( 192,479 ) ( 169,527 ) Net deferred tax assets $ 228,108 $ 203,697 A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows: (in 000s) As of June 30, 2025 June 30, 2024 Deferred income tax assets $ 228,108 $ 203,697 Deferred tax liabilities — — Net deferred tax asset $ 228,108 $ 203,697 56 2025 Form 10-K | H&R Block, Inc.
ASU 2023-09 will be effective for annual periods beginning in fiscal year 2026 and will be applied on a prospective basis with the option to apply the standard retrospectively. 46 2025 Form 10-K | H&R Block, Inc.
Stock-based compensation expense and related tax items are as follows: 52 2025 Form 10-K | H&R Block, Inc.
In December 2023, the FASB issued Accounting Standards Update No. 2023-09 (ASU 2023-09), “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires companies to consistently categorize and disclose more detailed information about the income tax rate reconciliation and income taxes paid.
Components of intangible assets are as follows: (in 000s) Gross Carrying Amount Accumulated Amortization Net June 30, 2025: Reacquired franchise rights $ 415,700 $ ( 243,330 ) $ 172,370 Customer relationships 354,107 ( 287,067 ) 67,040 Internally-developed software 119,959 ( 117,604 ) 2,355 Noncompete agreements 23,070 ( 20,188 ) 2,882 Purchased technology 68,100 ( 55,655 ) 12,445 Trade name 5,800 ( 3,480 ) 2,320 $ 986,736 $ ( 727,324 ) $ 259,412 June 30, 2024: Reacquired franchise rights $ 403,955 $ ( 228,157 ) $ 175,798 Customer relationships 331,435 ( 270,245 ) 61,190 Internally-developed software 122,673 ( 119,610 ) 3,063 Noncompete agreements 21,977 ( 19,494 ) 2,483 Purchased technology 70,100 ( 51,432 ) 18,668 Trade name 5,800 ( 2,900 ) 2,900 $ 955,940 $ ( 691,838 ) $ 264,102 Amortization of intangible assets from continuing operations for the fiscal years ended June 30, 2025, 2024 and 2023 was $ 47.7 million, $ 61.1 million and $ 72.0 million, respectively.
On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement, which amended and restated our existing CLOC, extended the maturity date to July 11, 2030, maintained the aggregate principal amount of $1.5 billion, and revised the interest rate table.
Among other provisions, the legislation reinstates immediate expensing for domestic research and experimental expenditures, extends 100% bonus depreciation for qualified property placed in service beginning January 20, 2025, and makes certain other provisions of the Tax Cuts and Jobs Act permanent.
As of June 30, 2024 we had $ 1.4 million accrued under the Refund Advance guarantee agreement, and we paid $ 2.6 million, net of recoveries, related to that guarantee during the fiscal year ended June 30, 2025.
The increase is offset by a $ 2.2 million decrease to our valuation allowance balance for adjustments related to certain domestic and foreign net operating losses utilized in the current fiscal year and changes in future projections of net operating loss utilization.
We are evaluating the impacts of this legislation and will reflect its impact in our financial statements in fiscal year 2026.
During fiscal year 2025, our purchased participation interests represented 87% of total EA volume originated by Pathward.

No longer disclosed

The reconciliation between the statutory U.S. federal tax rate and our effective tax rate from continuing operations is as follows: Year ended June 30, 2024 2023 2022 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % Change in tax rate resulting from: State income taxes, net of federal income tax benefit 1.4 % 1.6 % 2.1 % Earnings taxed in foreign jurisdictions ( 1.9 ) % ( 2.9 ) % ( 2.4 ) % Permanent differences 0.7 % 0.6 % 0.9 % Uncertain tax positions ( 0.4 ) % ( 0.9 ) % ( 6.3 ) % U.S. tax on income from foreign affiliates 4.1 % 3.1 % 2.0 % Federal income tax credits ( 2.4 ) % ( 1.3 ) % ( 2.6 ) % Foreign investment recapture 2.6 % — % 0.6 % Change in valuation allowance - domestic — % ( 0.4 ) % 0.2 % Change in valuation allowance - foreign ( 2.8 ) % 0.7 % ( 0.3 ) % Other ( 0.7 ) % ( 0.5 ) % ( 0.3 ) % Effective tax rate 21.6 % 21.0 % 14.9 % The components of income tax expense for continuing operations are as follows: (in 000s) Year ended June 30, 2024 2023 2022 Current: Federal $ 191,664 $ 97,430 $ 121,319 State 9,695 19,023 25,108 Foreign 18,240 18,214 8,956 219,599 134,667 155,383 Deferred: Federal ( 59,441 ) 23,367 ( 58,487 ) State ( 11,749 ) 1,860 ( 2,016 ) Foreign 15,950 ( 10,482 ) 3,543 ( 55,240 ) 14,745 ( 56,960 ) Total income taxes for continuing operations $ 164,359 $ 149,412 $ 98,423 H&R Block, Inc. | 2024 Form 10-K 55 We account for income taxes under the asset and liability method, which requires us to record deferred income tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying value of existing assets and liabilities and their respective tax basis.
The significant components of deferred tax assets and liabilities are reflected in the following table: (in 000s) As of June 30, 2024 June 30, 2023 Deferred tax assets: Accrued expenses $ 3,796 $ 2,540 Deferred revenue 50,944 17,702 Allowance for credit losses 30,581 22,715 Deferred and stock-based compensation 8,060 6,629 Net operating loss carry-forward 63,398 116,956 Lease liabilities 117,483 111,721 Federal tax benefits related to state unrecognized tax benefits 26,841 22,037 Property and equipment 2,260 — Internally developed software 15,063 — Intangibles - intellectual property 71,367 80,879 Valuation allowance ( 16,569 ) ( 57,566 ) Total deferred tax assets 373,224 323,613 Deferred tax liabilities: Prepaid expenses and other ( 3,001 ) ( 5,954 ) Lease right of use assets ( 115,128 ) ( 109,814 ) Property and equipment — ( 1,421 ) Income tax method change — ( 1,018 ) Intangibles ( 51,398 ) ( 56,651 ) Total deferred tax liabilities ( 169,527 ) ( 174,858 ) Net deferred tax assets $ 203,697 $ 148,755 A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows: (in 000s) As of June 30, 2024 June 30, 2023 Deferred income tax assets $ 203,697 $ 152,699 Deferred tax liabilities — ( 3,944 ) Net deferred tax asset $ 203,697 $ 148,755 56 2024 Form 10-K | H&R Block, Inc.
ASU 2023-07 must be applied retrospectively to all prior periods presented in the financial statements. 46 2024 Form 10-K | H&R Block, Inc.
However, due to the discontinuation of EA lines of credit, we charged-off the receivables and the related allowance of EA lines of credit and Revolving Loans during the quarter ended September 30, 2023 to an amount that we believe represents net realizable value.
Components of intangible assets are as follows: (in 000s) Gross Carrying Amount Accumulated Amortization Net June 30, 2024: Reacquired franchise rights $ 403,955 $ ( 228,157 ) $ 175,798 Customer relationships 331,435 ( 270,245 ) 61,190 Internally-developed software 122,673 ( 119,610 ) 3,063 Noncompete agreements 21,977 ( 19,494 ) 2,483 Purchased technology 70,100 ( 51,432 ) 18,668 Trade name 5,800 ( 2,900 ) 2,900 $ 955,940 $ ( 691,838 ) $ 264,102 June 30, 2023: Reacquired franchise rights $ 392,452 $ ( 212,495 ) $ 179,957 Customer relationships 351,695 ( 301,062 ) 50,633 Internally-developed software 133,380 ( 120,054 ) 13,326 Noncompete agreements 42,596 ( 39,617 ) 2,979 Franchise agreements 19,201 ( 18,668 ) 533 Purchased technology 122,700 ( 96,565 ) 26,135 Trade name 5,800 ( 2,320 ) 3,480 $ 1,067,824 $ ( 790,781 ) $ 277,043 Amortization of intangible assets from continuing operations for the fiscal years ended June 30, 2024, 2023 and 2022 was $ 61.1 million, $ 72.0 million and $ 77.5 million, respectively.
In March 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide economic and other relief as a result of the COVID-19 pandemic.
Of the net $ 41.0 million decrease in valuation allowance, $ 21.6 million impacted the effective tax rate due to state and foreign net operating losses we were able to utilize in the current period or now expect to utilize in future periods.
This increase is offset by a $ 45.6 million decrease for adjustments to certain foreign net operating losses utilized in the current fiscal year or for adjustments to net operating losses that are no longer available due to expiration.
Effective October 20, 2023, we amended the Program Management Agreement and entered into a new participation agreement related to EA term loans originated by Pathward.
The CLOC will mature on June 11, 2026, unless extended pursuant to the terms of the CLOC, at which time all outstanding amounts thereunder will be due and payable.
D ue to the expiration of the statute of limitations, w e recognized the deferred credits during fiscal year 2024 as an offset to related operating expenses.
The $ 4.6 million of additions charged to costs and expenses were due to net operating loss deferred tax assets generated by current year foreign and domestic losses that we do not expect to utilize in future years.

In the News

🔥 High media attention

Coverage (30d): 11 reputable articles.

MarketWatchH&R Block Inc. stock outperforms competitors on strong trading day16h ago MarketWatchH&R Block Inc. stock underperforms Wednesday when compared to competitors despite daily gains5d ago MarketWatchH&R Block Inc. stock underperforms Thursday when compared to competitors11d ago MarketWatchH&R Block Inc. stock outperforms competitors despite losses on the day12d ago MarketWatchH&R Block Inc. stock underperforms Monday when compared to competitors22d ago MarketWatchH&R Block Inc. stock underperforms Monday when compared to competitors despite daily gains28d ago

Reputable outlets only (Reuters, WSJ, CNBC, Barron's, and peers). More on Google News ↗

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