H&R Block (HRB) FY2025 results: revenue $3.8 billion, up 4.2% on the year

H&R Block Inc. (HRB) reported revenue of $3.8 billion for fiscal 2025, the year ended 30 June 2025, up 4.2% on the year before. Net income was $606 million, up 1.8%, and diluted earnings per share $4.39. The figures are the company's own, from the 10-K it filed with the SEC on 15 August 2025.

Revenue

$3.8 billion

+4.2% on the year

FY2022FY2025

Operating margin

22.0%

22.3% a year earlier

FY2022FY2025

Net income

$606 million

+1.8% on the year

FY2022FY2025

Diluted EPS

$4.39

+6.6% on the year

FY2022FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	3,761	3,610	3,472	+4.2%
Cost of revenue	2,086	1,992	1,923	+4.7%
Gross profit	1,675	1,619	1,549	+3.5%
Gross margin	44.5%	44.8%	44.6%
Selling, general and administrative	847	814	800	+4.1%
Operating income	828	805	749	+2.8%
Operating margin	22.0%	22.3%	21.6%
Interest expense	78.1	79.1	73.0	-1.2%
Pre-tax income	781	762	711	+2.5%
Income tax	172	164	149	+4.6%
Effective tax rate	22.0%	21.6%	21.0%
Net income	606	595	554	+1.8%
Net margin	16.1%	16.5%	15.9%
Diluted EPS	$4.39	$4.12	$3.51	+6.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	681	721	822	-5.5%
Capital expenditure	82.0	63.7	69.7	+28.8%
Free cash flow	599	657	752	-8.9%
Free cash flow margin	15.9%	18.2%	21.7%
Cash from investing	-105	-93.9	-101
Cash from financing	-647	-564	-751
Depreciation and amortisation	117	122	131	-4.1%
Share-based compensation	32.5	34.3	31.3	-5.2%
Dividends paid	197	180	178	+9.8%
Dividend per share	$1.50	$1.28	$1.16	+17.2%
Diluted shares, weighted	137m	144m	157m	-4.6%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	88.9	90.6	32.1	-1.9%
Debt	1,493	1,491	1,489	+0.1%
Operating lease liabilities	323	265	241	+21.7%
Other liabilities	1,359	1,372	1,311	-0.9%
Total liabilities and equity	3,264	3,219	3,072	+1.4%
Fixed assets	135	131	130	+2.9%
Goodwill	802	785	775	+2.1%
Intangible assets	259	264	277	-1.8%
Cash and equivalents	983	1,053	987	-6.7%
Receivables	63.6	69.1	60.0	-7.9%
Other assets	1,020	916	843	+11.4%
Total assets	3,264	3,219	3,072	+1.4%

10-K for the year ended 30 June 2025, filed 15 August 2025: the filing.