Company Valuation: H&R Block, Inc.

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 5,637 4,853 7,567 7,349 4,827 5,244 - -
Change - -13.9% 55.91% -2.88% -34.31% 8.63% - -
Enterprise Value (EV) 1 6,674 5,801 8,476 7,509 5,360 6,411 6,295 6,165
Change - -13.08% 46.11% -11.41% -28.62% 19.61% -1.8% -2.07%
P/E 11x 9.08x 13.2x 12.5x 6.73x 7.31x 6.44x -
PBR - - - - - - - -
PEG - 1.01x 0.8x 1.91x 0.2x 2.59x 0.5x -
Capitalization / Revenue 1.63x 1.4x 2.1x 1.95x 1.22x 1.27x 1.22x 1.16x
EV / Revenue 1.93x 1.67x 2.35x 2x 1.36x 1.55x 1.46x 1.36x
EV / EBITDA 7.5x 6.34x 8.8x 7.69x 5.07x 5.71x 5.32x 4.83x
EV / EBIT 8.93x 7.4x 10.1x 8.74x 5.74x 6.45x 6.03x 5.24x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.08 1.16 1.28 1.5 1.68 1.853 1.93 2.19
Rate of return 3.06% 3.64% 2.36% 2.73% 4.41% 4.36% 4.54% 5.15%
EPS 2 3.22 3.51 4.12 4.39 5.66 5.82 6.605 -
Distribution rate 33.5% 33% 31.1% 34.2% 29.7% 31.8% 29.2% -
Net sales 1 3,463 3,472 3,610 3,761 3,945 4,137 4,310 4,518
EBITDA 1 889.5 914.7 963.2 976.3 1,057 1,122 1,184 1,278
EBIT 1 747.4 784.2 841.4 859.5 934.5 993.8 1,044 1,178
Net income 1 553.7 553.7 595.3 605.8 733.6 701.8 744.9 -
Net Debt 1 1,038 947.9 909.2 160 532.8 1,167 1,052 921.3
Reference price 2 35.32 31.87 54.23 54.89 38.08 42.54 42.54 42.54
Nbr of stocks (in thousands) 159,594 152,284 139,530 133,880 126,760 123,266 - -
Announcement Date 8/9/22 8/15/23 8/15/24 8/12/25 8/11/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.31x1.55x5.71x4.36% 5.24B
14.17x1.48x6x4.13% 217M
Average 10.74x 1.52x 5.85x 4.24% 2.73B
Weighted average by Cap. 7.58x 1.55x 5.72x 4.35%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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