H&R Block Files 2025 Annual Report

TL;DR

HRB dropped its 2025 10-K. All systems go for tax season.

AI Summary

H&R Block Inc. filed its 2025 10-K report for the fiscal year ending June 30, 2025. The company, headquartered in Kansas City, MO, operates in the personal services sector. Key financial data and operational details for the fiscal year are presented in this comprehensive filing.

Why It Matters

This filing provides a detailed look at H&R Block's financial performance and strategic positioning for the fiscal year 2025, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — This is a standard annual report filing for a large, established company, indicating routine business operations.

Key Numbers

• 2025-06-30 — Fiscal Year End (The end date for the reporting period covered by the 10-K.)
• 2025-08-15 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• H&R Block Inc. (company) — Filer of the 10-K report
• 20250630 (date) — Conformed period of report (fiscal year end)
• 20250815 (date) — Filed as of date
• KANSAS CITY (location) — Company headquarters city
• MO (location) — Company headquarters state

FAQ

Key Financial Figures

• $3.8 b — ibuted to our consolidated revenues of $3.8 billion, net income from continuing ope
• $609.5 m — t income from continuing operations of $609.5 million, EBITDA (2) from continuing ope
• $976.3 m — TDA (2) from continuing operations of $976.3 million, and diluted EPS from continuin
• $4.42 — uted EPS from continuing operations of $4.42 per share. We repurchased 6.5 millio
• $1.50 — mon stock, and declared dividends of $1.50 per share, which was an increase of
• $0 — per share, which was an increase of $0.22, or 17.2%, per share from the prior
• $1.5 b — ained the aggregate principal amount of $1.5 billion, and revised the interest rate ta
• $10,000 — reimburse a client (up to a maximum of $10,000 in the U.S.) if our software makes an a
• $6,000 — id under POM have a cumulative limit of $6,000 for U.S. clients and $3,000 CAD for Can
• $3,000 — ve limit of $6,000 for U.S. clients and $3,000 CAD for Canadian clients with respect t
• $350 — in November and December, in amounts of $350 to $1,300. EA term loans are interest b
• $1,300 — ber and December, in amounts of $350 to $1,300. EA term loans are interest bearing wit
• $250 — on 2025, RAs were offered in amounts of $250, $500, $750, $1,250 and $4,000, based o
• $500 — 5, RAs were offered in amounts of $250, $500, $750, $1,250 and $4,000, based on clie
• $750 — were offered in amounts of $250, $500, $750, $1,250 and $4,000, based on client eli

Filing Documents

• hrb-20250630.htm (10-K) — 1683KB
• hrb20250630exhibit412.htm (EX-4.12) — 37KB
• hrblockseveranceplanamende.htm (EX-10.11) — 102KB
• formfy26rsuawardagreement-.htm (EX-10.21) — 119KB
• formfy26psuawardagreement-.htm (EX-10.22) — 149KB
• hrbq4fy25ex1030-thirdamend.htm (EX-10.31) — 23KB
• hrb20250630ex191-hrblockin.htm (EX-19.1) — 63KB
• hrb20250630exhibit21.htm (EX-21) — 28KB
• hrb20250630exhibit22.htm (EX-22) — 4KB
• hrb20250630exhibit23.htm (EX-23) — 2KB
• hrb20250630exhibit311.htm (EX-31.1) — 8KB
• hrb20250630exhibit312.htm (EX-31.2) — 8KB
• hrb20250630exhibit321.htm (EX-32.1) — 4KB
• hrb20250630exhibit322.htm (EX-32.2) — 4KB
• hrb20250630ex97-hrblockinc.htm (EX-97) — 38KB
• hrb-20250630_g1.jpg (GRAPHIC) — 43KB
• hrb-20250630_g2.jpg (GRAPHIC) — 44KB
• hrb-20250630_g3.jpg (GRAPHIC) — 38KB
• hrb-20250630_g4.jpg (GRAPHIC) — 45KB
• hrb-20250630_g5.jpg (GRAPHIC) — 48KB
• hrb-20250630_g6.jpg (GRAPHIC) — 50KB
• hrb-20250630_g7.jpg (GRAPHIC) — 56KB
• hrb-20250630_g8.jpg (GRAPHIC) — 86KB
• hrblocklogo.jpg (GRAPHIC) — 140KB
• 0001605297-25-000016.txt ( ) — 11164KB
• hrb-20250630.xsd (EX-101.SCH) — 54KB
• hrb-20250630_cal.xml (EX-101.CAL) — 90KB
• hrb-20250630_def.xml (EX-101.DEF) — 280KB
• hrb-20250630_lab.xml (EX-101.LAB) — 733KB
• hrb-20250630_pre.xml (EX-101.PRE) — 559KB
• hrb-20250630_htm.xml (XML) — 1391KB

BUSINESS

BUSINESS 2 ITEM 1A.

RISK FACTORS

RISK FACTORS 8 ITEM 1B. UNRESOLVED STAFF COMMENTS 20 ITEM 1C. CYBERSECURITY 20 ITEM 2.

PROPERTIES

PROPERTIES 22 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 ITEM 4. MINE SAFETY DISCLOSURES 22 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 22 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 23 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 24 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 33 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 34 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 62 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 62 ITEM 9B. OTHER INFORMATION 63 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 63 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 64 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 64 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 64 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 64 PART IV ITEM 15. EXHIBIT INDEX 65

SIGNATURES

SIGNATURES 68 INTRODUCTION "H&R Block," "the Company," "we," "our" and "us" are used interchangeably to refer to H&R Block, Inc., to H&R Block, Inc. and its subsidiaries, or to H&R Block, Inc.'s operating subsidiaries, as appropriate to the context. Specified portions of our proxy statement are "incorporated by reference" in response to certain items. Our proxy statement will be made available to shareholders no later than 120 days after June 30, 2025, and will also be available on our website at www.hrblock.com .

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report and other documents filed with the Securities and Exchange Commission (SEC) may contain forward-looking statements. In addition, our senior management may make forward-looking statements orally to analysts, investors, the media and others. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "commits," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "could," "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volumes or other financial items, descriptions of management's plans or objectives for future operations, services or products, or descriptions of assumptions underlying any of the above. They may also include the expected impact of external events beyond the Company's control, such as outbreaks of infectious disease, severe weather events, natural or man-made disasters, or changes in the regulatory environment in which we operate. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made and reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect change

BUSINESS

ITEM 1. BUSINESS OVERVIEW H&R Block provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small business solutions. We blend digital innovation with human expertise and care to help people get the best outcome at tax time and also be better with money by using our mobile banking app, Spruce. Through Block Advisors and Wave, we help small-business owners thrive with year-round bookkeeping, payroll, advisory and payment processing solutions. H&R Block, Inc. was organized as a corporation in 1955 under the laws of the State of Missouri. A complete list of our subsidiaries as of June 30, 2025 can be found in Exhibit 21 . During fiscal year 2025, we prepared 11.3 million U.S. assisted tax returns (1) and our clients filed 3.8 million DIY online paid tax returns (1) which contributed to our consolidated revenues of $3.8 billion, net income from continuing operations of $609.5 million, EBITDA (2) from continuing operations of $976.3 million, and diluted EPS from continuing operations of $4.42 per share. We repurchased 6.5 million shares of our common stock, and declared dividends of $1.50 per share, which was an increase of $0.22, or 17.2%, per share from the prior year. (1) U.S. assisted tax returns prepared includes tax returns prepared in U.S. company-owned and franchise operations, including virtual returns. An assisted tax return is defined as a current or prior year individual or business tax return that has been accepted by the client. A DIY online paid return is defined as a current year individual or business tax return that has been accepted by the client. (2) See " Non-GAAP Financial Information " in Item 7 for a reconciliation of non-GAAP measures. 2 2025 Form 10-K | H&R Block, Inc. RECENT DEVELOPMENTS On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement, which amended and restated the exist

View Full Filing

View this 10-K filing on SEC EDGAR