$37.96
+1.2%H&R Block, Inc., through its subsidiaries, provides assisted income tax return preparation and do-it-yourself (DIY) tax return preparation services and products to the general public primarily in the United States, Canada, and Australia. The company offers assisted income tax return preparation and related services through a system of retail offices operated directly by the company or its franchisees. It also provides Refund Transfers and H&R Block Emerald Prepaid Mastercard, which enables clients to receive their tax refunds; Peace of Mind extended service plans; H&R Block Emerald Advance lines of credit; Tax Identity Shield that provides clients assistance in helping protect their tax identity and access to services to help restore their tax identity; refund advance loans; H&R Block Instant Refund; and H&R Block Pay With Refund services. In addition, the company offers small business financial solutions through its company-owned or franchise offices, and online. H&R Block, Inc. was founded in 1955 and is headquartered in Kansas City, Missouri.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $620.4M | $565.4M | $515.2M | $469.5M | $427.8M | $389.8M | $355.2M | $323.7M | $295.0M | $268.8M |
| Maintenance CapEx | -$15.0M | -$13.6M | -$12.4M | -$11.3M | -$10.3M | -$9.4M | -$8.6M | -$7.8M | -$7.1M | -$6.5M |
| Owner Earnings | $605.5M | $551.8M | $502.8M | $458.1M | $417.5M | $380.4M | $346.7M | $315.9M | $287.8M | $262.3M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $560.6M | $473.0M | $399.1M | $336.8M | $284.1M | $239.7M | $202.3M | $170.7M | $144.0M | $121.5M |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.