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The Screen · Consumer Cyclical · Personal Services
H&R Block, Inc.
HRB · the NYSE · USD · Market cap $6.1B · 4,300 employees
H&R Block, Inc., through its subsidiaries, provides assisted and do-it-yourself (DIY) tax return preparation services in the United States, Canada, and Australia.
FAIL · Does not pass the screen
49.69 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 6 days ago
Screened 2026-10-23 · the tape above runs as of 08:02 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price49.69 USD at the 23 Oct 2026 close
Ethical screenDoes not pass
OptionsOpen interest leans heavily to calls (put/call 0.56)
Last reviewed23 Oct 2026 (6 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 49.69 against the desk's fair-value range, base estimate 60.00, over the last year.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.56, read 2026-10-28
Ethical does not pass the values gate
Price49.69 USD
Fair value60.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-21Read Markup43.83+13.4% to today ✓Distribution gives way to Markup first Markup read since September
2026-10-02Read Distribution44.50+11.7% to today Markup gives way to Distribution after a 22% rise in 13 weeks
2026-07-02Read Markup36.52+36.1% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
H&R Block, Inc. holds its Markup at $49.69. The statistical read favours the sellers, held for 29 days.
As held on the ledger · 2026-10-23
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 29 days
Price at the screen
$49.69
Valuation
8.80 trailing · 7.24 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.39
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
62.05%
Below 33%
Interest-bearing debt is 62.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
31.65%
Below 49%
Money owed to the company is 31.6% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
H&R Block,'s business is in a permissible area, but its interest-bearing debt is about 62% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Get an email when HRB's ethical verdict changes
Today HRB does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 20.7% margin of safety to the base estimate.
Third-party analyst targets: 3 covering, consensus None. The average target sits +19% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Tax refunds feel reliable until the season shifts
Picture a business that prints money for three months then waits out the rest of the year. H&R Block sits in that exact spot, selling assisted tax prep at a forward P/E of 7.2 times with 5 percent revenue growth and 19 percent margins. The numbers look tidy on paper and the ethical screen clears without issue, yet the opportunity rating sits at none because the low multiple simply reflects a service tied to one annual event and shifting tax rules.
The market prices the shares at 42 dollars against a 49-dollar fair value, but two analysts see 40 dollars as fair. That gap tells us the cheap earnings multiple is not an invitation. Growth stays modest, competition from software keeps eating the DIY side, and any change in filing behaviour or refunds lands straight on the top line.
Cyclical exposure means peak profits often coincide with peak multiples that later compress, turning the apparent bargain into a value trap rather than a durable compounder. Steady cash flow cannot erase the fact that demand is lumpy and largely outside management control. Analysis, not advice.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HRB trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markup$50.08+14.3%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 14.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading overbought. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40. Insiders have been net sellers over the past quarter. Since the last review it its composite score eased.
2026-10-21Markup · changed$43.83-0.5%Entry 8
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40. Insiders have been net sellers over the past quarter.
2026-10-14Distribution$44.05-1.0%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 15.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40. Since the last review it its composite score rose.
2026-09-01Markup$52.51+19.3%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 19.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40.
2026-08-01Markup$44.03+20.6%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40.
2026-07-18Markup$36.52+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $40.
2026-07-03Markup$36.52+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$36.52Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
