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 6,492 - -
Change - -13.9% 55.91% -2.88% -34.31% 34.5% - -
Enterprise Value (EV) 1 6,674 5,801 8,476 7,509 4,827 7,660 7,547 7,420
Change - -13.08% 46.11% -11.41% -35.71% 58.69% -1.48% -1.67%
P/E 11x 9.08x 13.2x 12.5x 6.73x 9.05x 7.97x -
PBR - - - - - - - -
PEG - 1.01x 0.8x 1.91x 0.2x 3.2x 0.6x -
Capitalization / Revenue 1.63x 1.4x 2.1x 1.95x 1.22x 1.57x 1.51x 1.44x
EV / Revenue 1.93x 1.67x 2.35x 2x 1.22x 1.85x 1.75x 1.64x
EV / EBITDA 7.5x 6.34x 8.8x 7.69x 4.57x 6.83x 6.37x 5.81x
EV / EBIT 8.93x 7.4x 10.1x 8.74x 5.17x 7.71x 7.23x 6.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.08 1.16 1.28 1.5 - 1.853 1.93 2.19
Rate of return 3.06% 3.64% 2.36% 2.73% - 3.52% 3.66% 4.16%
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% - 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 1 747.4 784.2 841.4 859.5 934.5 993.9 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 - 1,168 1,054 928
Reference price 2 35.32 31.87 54.23 54.89 38.08 52.67 52.67 52.67
Nbr of stocks (in thousands) 1,59,594 1,52,284 1,39,530 1,33,880 1,26,760 1,23,266 - -
Announcement Date 09/08/22 15/08/23 15/08/24 12/08/25 11/08/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.05x1.85x6.83x3.52% 649.24Cr
16.58x1.59x6.38x3.87% 23Cr
Average 12.81x 1.72x 6.60x 3.69% 336.32Cr
Weighted average by Cap. 9.31x 1.84x 6.81x 3.53%

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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