$5.5 B

HRB Mkt cap, 14-Dec-2018
H&R Block Net income (Q2, 2019)-176.3 M
H&R Block Cash, 31-Oct-2018600.8 M
H&R Block EV6.4 B

H&R Block Revenue Breakdown

Embed Graph

H&R Block revenue breakdown by business segment: 7.7% from U.S. DIY Tax Preparation Fees, 7.2% from International Revenues, 61.6% from U.S. Assisted Tax Preparation Fees, 7.8% from U.S. Royalties, 5.4% from Revenues from Refund Transfers and 10.3% from Other

H&R Block Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

3.0b3.1b3.0b3.0b3.2b

Revenue growth, %

2%(1%)0%4%

Cost of goods sold

1.7b1.6b1.7b

Gross profit

1.4b1.4b1.4b

Gross profit Margin, %

45%46%45%

Sales and marketing expense

808.2m

General and administrative expense

676.0m668.2m

Operating expense total

1.5b2.4b

Pre tax profit

569.5m629.3m668.7m

Income tax expense

185.9m208.4m41.8m

Net Income

475.2m473.7m374.3m408.9m613.1m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Revenue

134.3m199.8m133.6m134.6m509.1m137.7m128.4m474.5m125.2m131.3m451.9m137.8m140.9m767.1m145.2m

Cost of goods sold

220.9m363.5m211.5m221.7m394.7m213.5m226.4m392.5m211.1m225.7m388.8m227.7m240.0m884.3m221.6m250.8m

Gross profit

(86.5m)(163.8m)(77.9m)(87.1m)114.4m(75.8m)(98.0m)82.0m(85.9m)(94.4m)63.1m(89.9m)(99.2m)(117.3m)(76.4m)

Gross profit Margin, %

(64%)(82%)(58%)(65%)22%(55%)(76%)17%(69%)(72%)14%(65%)(70%)(15%)(53%)

Sales and marketing expense

60.5m160.8m51.9m69.4m186.7m55.8m62.7m181.9m52.4m57.7m165.0m55.6m65.9m303.4m

General and administrative expense

94.1m174.4m97.2m97.4m189.5m98.2m135.8m201.9m98.8m113.7m187.9m95.2m116.8m381.2m105.7m113.3m

Operating expense total

315.0m538.0m308.7m166.8m376.2m154.0m198.5m383.8m151.2m171.4m352.9m323.0m356.9m1.3b327.3m364.1m

Depreciation and amortization

25.1m28.6m29.7m90.4m

EBIT

(180.6m)(338.2m)(175.1m)

EBIT margin, %

(134%)(169%)(131%)

Interest expense

14.3m14.4m13.9m14.0m9.3m

Interest income

10.6m37.4m9.3m9.4m39.3m8.4m

Pre tax profit

(562.3m)(198.8m)

Income tax expense

(76.3m)(135.1m)(67.0m)(87.3m)(55.6m)(90.6m)(95.2m)(67.9m)(82.5m)(85.1m)(49.4m)(77.4m)(88.0m)(43.2m)(50.0m)(61.1m)

Net Income

(104.9m)(214.7m)(116.2m)(112.0m)(36.9m)(99.7m)(145.0m)(81.7m)(123.7m)(146.2m)(104.5m)(130.6m)(153.6m)(529.8m)(152.7m)(176.3m)

H&R Block Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

2.2b2.0b896.8m1.0b1.5b

Accounts Receivable

146.8m

Prepaid Expenses

69.0m

Inventories

198.3m70.3m67.1m

Current Assets

3.1b3.0b1.2b1.3b1.9b

Goodwill

436.1m441.8m470.8m491.2m507.9m

Total Assets

4.7b4.5b2.9b2.7b3.1b

Accounts Payable

231.3m259.6m217.0m252.0m

Short-term debt

400.6m790.0k826.0k981.0k1.0m

Current Liabilities

2.3b1.9b1.0b939.3m843.7m

Long-term debt

505.8m505.3m1.5b1.5b1.5b

Total Debt

906.5m506.1m1.5b1.5b1.5b

Total Liabilities

2.8b2.7b

Common Stock

2.5m

Additional Paid-in Capital

766.7m783.8m758.2m754.9m760.3m

Retained Earnings

1.6b1.8b40.3m(48.2m)363.0m

Total Equity

1.6b1.8b23.1m(60.9m)393.7m

Debt to Equity Ratio

0.6 x0.3 x65 x-24.5 x3.8 x

Debt to Assets Ratio

0.2 x0.1 x0.5 x0.6 x0.5 x

Financial Leverage

3 x2.5 x123.7 x-44.3 x8 x

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

790.8m437.4m1.4b627.5m1.3b1.3b360.7m189.5m306.9m232.5m221.2m551.6m181.0m187.4m979.1m600.8m

Accounts Receivable

70.6m

Prepaid Expenses

85.3m

Current Assets

1.2b1.5b2.3b1.5b2.8b2.1b726.7m1.2b608.4m703.5m1.2b833.9m444.6m1.3b1.3b891.0m

Goodwill

442.8m437.4m478.8m464.2m443.0m454.4m442.1m443.4m470.9m477.4m483.3m494.0m493.1m504.8m507.9m507.2m

Total Assets

3.3b3.5b3.9b3.1b4.4b3.6b2.3b2.9b2.2b2.1b2.6b2.1b1.7b2.6b2.6b2.2b

Accounts Payable

116.9m141.1m206.0m157.1m139.8m239.1m161.8m114.9m163.7m145.5m114.4m

Short-term debt

400.5m400.6m400.7m772.0k781.0k799.0k808.0k817.0k864.0k903.0k942.0k992.0k1.0m1.0m1.0m

Current Liabilities

1.5b2.1b1.7b1.1b2.5b1.2b566.5m589.0m609.2m434.9m554.6m562.5m393.2m666.5m564.0m435.7m

Long-term debt

506.1m506.0m505.7m505.6m505.5m505.2m1.5b2.6b1.5b1.5b1.5b1.5b1.5b

Total Debt

906.6m906.5m906.4m506.4m506.2m506.0m1.5b2.6b1.5b903.0k942.0k1.5b1.5b1.0m1.5b1.5b

Total Liabilities

2.3b2.8b2.3b2.1b3.3b2.4b2.3b

Common Stock

2.4m

Additional Paid-in Capital

757.8m762.1m766.0m772.7m778.8m773.8m757.8m758.5m748.9m751.2m752.7m746.8m753.4m758.4m752.1m759.2m

Retained Earnings

1.0b734.2m1.4b1.3b1.2b1.7b3.6m(510.0m)(180.6m)(538.2m)(785.8m)(229.6m)(433.6m)(729.6m)163.6m(64.3m)

Total Equity

1.4b1.2b1.1b1.7b(27.2m)(536.7m)(199.8m)(557.5m)(800.8m)(214.3m)(412.8m)(698.1m)192.0m(31.3m)

Debt to Equity Ratio

0.6 x0.4 x0.4 x0.3 x-55.2 x-4.9 x-7.5 x0 x0 x-3.6 x0 x7.8 x

Debt to Assets Ratio

0.3 x0.2 x0.2 x0.1 x0.1 x0.7 x0.9 x0.7 x0 x0 x0.9 x0 x0.6 x

Financial Leverage

2.8 x2.5 x3.8 x2.2 x-84.1 x-5.4 x-10.8 x-3.7 x-3.2 x-9.9 x-4.2 x-3.7 x13.6 x-71.3 x

H&R Block Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

475.2m473.7m374.3m408.9m613.1m

Depreciation and Amortization

115.6m159.8m115.9m182.2m183.3m

Accounts Receivable

(77.9m)(65.6m)

Inventories

2.4m(8.5m)4.3m

Accounts Payable

681.0k16.7m(30.5m)32.6m

Cash From Operating Activities

809.6m626.6m532.4m552.2m850.0m

Cash From Investing Activities

10.7m(148.9m)329.5m99.3m(112.1m)

Long-term Borrowings

(400.0m)

Dividends Paid

(219.0m)(220.0m)(201.7m)(187.1m)(200.5m)

Cash From Financing Activities

(364.9m)(645.8m)(2.0b)(530.4m)(190.7m)

Net Change in Cash

116.6m546.1m

Free Cash Flow

662.6m503.5m432.5m462.9m751.4m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Net Income

(112.0m)(36.9m)(99.7m)(145.0m)(81.7m)(123.7m)(146.2m)(104.5m)(130.6m)(284.1m)(529.8m)(152.7m)(328.9m)

Depreciation and Amortization

28.4m29.2m27.1m28.4m28.8m27.5m87.0m132.2m43.6m88.4m136.9m40.4m81.9m

Accounts Receivable

65.0m78.0m(651.2m)67.0m75.3m

Accounts Payable

(99.4m)(33.6m)(66.7m)(85.8m)(36.6m)(99.7m)(120.9m)

Cash From Operating Activities

(492.4m)(1.1b)(381.6m)(627.6m)(1.2b)(378.2m)(602.7m)(1.4b)(475.7m)(725.8m)(1.4b)(409.1m)(648.5m)(1.4b)(375.6m)(627.7m)

Purchases of PP&E

(86.9m)(125.7m)(25.8m)(70.9m)(98.9m)(8.7m)(38.8m)(66.4m)(6.2m)(44.9m)(73.9m)

Cash From Investing Activities

(64.0m)(67.9m)(26.3m)(80.7m)(132.7m)32.1m365.1m314.0m5.1m(55.8m)64.7m(13.0m)(79.4m)(122.6m)(6.6m)(83.2m)

Long-term Borrowings

400.0m400.0m(225.0m)

Dividends Paid

(109.3m)(164.1m)(54.9m)(109.9m)(164.9m)(55.1m)(110.3m)(157.5m)(48.5m)(96.0m)(141.5m)(49.9m)(100.1m)(150.3m)(52.1m)(103.5m)

Cash From Financing Activities

(392.5m)(101.9m)(348.4m)(845.3m)531.3m(350.7m)(1.4b)(688.2m)(117.0m)121.4m638.5m(27.4m)(106.9m)631.3m(169.9m)(226.3m)

Net Change in Cash

(553.2m)

Free Cash Flow

(422.2m)(705.2m)(1.4b)(387.6m)(694.1m)

H&R Block Ratios

USDY, 2018

EV/CFO

-10.3 x

EV/FCF

-9.3 x

Financial Leverage

-71.3 x
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H&R Block Employee Rating

3.63222 votes
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3.5
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3.7
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3.2
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