H&r Block, Inc. · NYSE:HRB
H&r Block — Investor Presentation (August 2026)
46 slides from H&r Block's investor presentation, August 2026
Slide 1: Investor Presentation August 2026
Investor Presentation August 2026
Slide 2: Safe Harbor Statement
H &R B LO C K Safe Harbor Statement Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include
Slide 3: Safe Harbor Statement: Non-GAAP Measures
H &R B LO C K Safe Harbor Statement Non-GAAP Measures We refer to certain Non-GAAP financial measures in this presentation, including adjusted earnings per share (EPS), earnings before interest, taxes, depreciation, and amortization (EBITDA), Adjusted EBITDA, and free cash flow (FCF), which manageme
Slide 4: Why Invest in H&R Block
H &R B LO C K Why Invest in H&R Block Durable Business Model National Scale & Compelling Financial in Stable Industries Strong Brand Recognition Profile & Capital Allocation Primary business anchored in Strong brand awareness and trust Solid balance sheet and liquidity essential tax preparation serv
Slide 5: Key Sections
H &R B LO C K 6 H&R Block at a Glance 10 Who We Serve & How We Win Key Sections 27 Financial Strength & Long-Term Value Creation 31 Disciplined Capital Allocation Framework 34 Corporate Responsibility and Governance 38 Investment Thesis Recap 5
Slide 6: H&R Block at a Glance
H &R B LO C K H&R Block at a Glance 6
Slide 7: Where Expertise Meets Trust at National Scale
H &R B LO C K Where Expertise Meets Trust at National Scale Founded in H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital inn
Slide 8: A Trusted, Iconic Brand Built Over 70 Years
H &R B LO C K A Trusted, Iconic Brand Built Over 70 Years Founded in 1955 as a network Our Business Today of tax preparation offices Tax Preparation Offices DIY Tax Solutions Small Business Services Financial Products Listed in 1962 on the NYSE Spruce Mobile Banking Platform ~20M #1 #1 >80% 94% U.S.
Slide 9: A Scaled, Flexible Retail Network That Drives Access and Trust
H &R B LO C K A Scaled, Flexible Retail Network That Drives Access and Trust Our network delivers national More than 85% of reach across urban, suburban, Americans are and rural markets, with local within 5 miles of presence and physical access that complements our digital an H&R Block services Dema
Slide 10: H&R Block: Who We Serve & How We Win
H &R B LO C K H&R Block: Who We Serve & How We Win 10
Slide 11: Purpose Built to Serve Two Core Audiences
H &R B LO C K Purpose Built to Serve Two Core Audiences Consumers Small Businesses Individuals and families Self-employed individuals managing their financial needs and small business owners managing day-to-day demands These audiences shape our unique approach to compete and win across tax preparati
Slide 12: Consumers Seek Optimal Outcomes in Taxes and Finances
H &R B LO C K Consumers Seek Optimal Outcomes in Taxes and Finances Tax Preparation Financial Products Consumers want tax preparation that is accurate, When it comes to financial services, clients seek reliable, and stress-free. They look for expertise solutions that simplify money management and th
Slide 13: Tax Preparation Industry Is Vast, Essential, and Enduring
H &R B LO C K Tax Preparation Industry Is Vast, Essential, and Enduring VAST U.S. Tax Preparation Total Addressable Market Over 140 million returns filed annually TAM $20-25B ESSENTIAL Part of consumers’ financial lives H&R Block FY26 ENDURING Consumer Tax Revenue1 ~$2.8B Complexity of tax code driv
Slide 14: Tax Filing Is High-Stakes, Regulated, and Trust-Driven
H &R B LO C K Tax Filing Is High-Stakes, Regulated, and Trust-Driven Regulatory Reality Stakes and Complexity • Filing a tax return is a legal declaration to the • Largest annual financial outcome for many U.S. government, signed under penalty of perjury households; refunds or liabilities often reac
Slide 15: Industry Categorizes Filings as Either Assisted or DIY
H &R B LO C K Industry Categorizes Filings as Either Assisted or DIY Signed and submitted Signed and submitted by a tax professional by a self-preparer ~55% Assisted ~45% DIY 2026 Assisted category has gained industry 2025 market share in 2024 3 of last 5 years 2023 2022 Consumer Confidence in Profe
Slide 16: Decades of Technological Change Have Not Displaced Human Trust
H &R B LO C K Decades of Technological Change Have Not Displaced Human Trust 65.00% 62.9% Assisted category has led filing volume every year since 1991 60.00% Across 36 consecutive seasons 54.1% Assisted share has remained resilient, 55.00% peaking at 63% during this time and never 51.3% 53.4% falli
Slide 17: Fragmentation Creates Long-Term Advantage for Scaled Providers
H &R B LO C K Fragmentation Creates Long-Term Advantage for Scaled Providers Assisted There has been an influx of independent tax preparation locations, particularly among “micro” competitors Over 80% of H&R Block maintains 325,000 Number of Independent and CPA Locations Assisted is 4X category shar
Slide 18: We are Prioritizing Higher-Value, More Complex Clients
H &R B LO C K We are Prioritizing Higher-Value, More Complex Clients Lower Higher Lifetime Value Lifetime Value Likely to Free with Paid - Lower Paid - Higher Paid - Small Remain Potential to Financial Financial Business Free Become Paid Complexity Complexity We are committed to making investments i
Slide 19: Our Omni-Channel Model Delivers Assistance on our Clients' Terms
H &R B LO C K Our Omni-Channel Model Delivers Assistance on our Clients’ Terms MyBlock Face to Face Fully Digital Virtual AI Tax Assist Tax Pro Review 19 Tax Preparation Financial Services Small Business Solutions
Slide 20: AI Will Enhance, Not Replace, Expert Judgment
H &R B LO C K AI Will Enhance, Not Replace, Expert Judgment #1 Best Use of AI Tax Software1 Elevate Client Empower Tax Pro Increase Organizational Experience Expertise Productivity Reducing friction, Progressively Advancing personalizing equipping tax automation of routine support, and building prof
Slide 21: We Offer Client-Centered Financial Solutions When It Matters Most
H &R B LO C K We Offer Client-Centered Financial Solutions When It Matters Most Spruce Emerald Advance • Fixed-rate short term loan of $350 - $1,500 • Mobile banking platform created to • Available Nov – Dec, repaid by March 31st support customers’ financial health • Designed for emergencies, shoppi
Slide 22: Small Businesses Also Need a Trusted, Year-Round Financial Partner
H &R B LO C K Small Businesses Also Need a Trusted, Year-Round Financial Partner Small Business Solutions Small business owners seek trusted, year-round support that simplifies operations, helps ensure compliance, and strengthens financial outcomes. Many currently juggle disconnected tools and ad-ho
Slide 23: H&R Block is Built to Support Small Businesses as Complexity Grows
H &R B LO C K H&R Block is Built to Support Small Businesses as Complexity Grows Expert-led tax preparation and compliance Comprehensive bookkeeping and payroll support Year-round planning and advisory Trusted guidance as complexity grows Trust anchored in tax expertise Ongoing engagement beyond tax
Slide 24: Small Business is Core Strategic Growth Lever
H &R B LO C K Small Business is Core Strategic Growth Lever Demonstrated Higher-Value Strategic Importance Momentum Client Mix to the Enterprise • Meaningful growth in recent years • Prioritizing more complex small business • Diversifying revenue beyond clients consumer tax • Approximately $0.7B rev
Slide 25: Large, Underpenetrated TAM Enables Revenue Expansion
H &R B LO C K Large, Underpenetrated TAM Enables Revenue Expansion Large, Highly-Diverse Small Business Small Business Total Services Industry Addressable Market >$100B 35+ million self-employed individuals and small businesses nationwide Represent a broad, economically significant segment of th
Slide 26: Small Business Opportunity Expands Over Time
H &R B LO C K Small Business Opportunity Expands Over Time Higher-Value, Longer- As complexity grows, clients adopt additional services, deepen relationships, and generate higher lifetime value Duration Relationships Bookkeeping, payroll, invoicing, and payments extend Recurring Financial engagement
Slide 27: H&R Block: Financial Strength & Long-Term Value Creation
H &R B LO C K H&R Block: Financial Strength & Long-Term Value Creation 27
Slide 28: Consistent Growth Backed by a Disciplined Earnings Algorithm
H &R B LO C K Consistent Growth Backed by a Disciplined Earnings Algorithm 1,2 Total Revenue EBITDA $4,110 to $4,160 $1,110 to $1,140 $3,945 $1,057 $3,761 $3,610 $976 $3,463 $3,472 $963 $915 $890 3 FY22 FY23 FY24 FY25 FY26 FY27E FY22 FY23 FY24 FY25 FY26 FY27E Earnings per Share1,2 Long-Term Growth A
Slide 29: Robust Free Cash Flow Is the Engine of Value Creation
H &R B LO C K Robust Free Cash Flow Is the Engine of Value Creation (in thousands) Free Cash Flow1 $800,000 H&R Block generates consistent and significant free $700,000 cash flow $600,000 $500,000 Robust cash conversion underscores the strength and $400,000 efficiency of our operating model $300,000
Slide 30: Predictable Seasonality Supports a Strong Liquidity Profile
H &R B LO C K Predictable Seasonality Supports a Strong Liquidity Profile Average Quarterly Revenue, FCF, & Credit Facility Strong cash generation during our core Borrowings from FY22-FY26 operating season (February–April) is the (in millions) primary source of annual liquidity, with $2,400 average
Slide 31: H&R Block: Disciplined Capital Allocation Framework
H &R B LO C K H&R Block: Disciplined Capital Allocation Framework 31
Slide 32: Clear Priorities for Long-Term Shareholder Value Creation
H &R B LO C K Clear Priorities for Long-Term Shareholder Value Creation Invest in the Business Continued disciplined Quarterly dividend has Consistently returning Grow investment in the business more than doubled1 since excess capital to the to drive sustainable growth 2016, highlighting HRB’s share
Slide 33: A Proven Track Record of Returning Capital to Shareholders
H &R B LO C K A Proven Track Record of Returning Capital to Shareholders 7% CAGR Shares $5.2B Dividends per share2 Dividends 44% Outstanding per Share $1.80 270,000 Value returned to shareholders1 Reduction in through dividends and share $1.60 outstanding shares1 repurchases 220,000 $1.40 $1.20 170,
Slide 34: H&R Block: Corporate Responsibility & Governance
H &R B LO C K H&R Block: Corporate Responsibility & Governance 34
Slide 35: Building a Responsible, Sustainable Business for the Future
H &R B LO C K Building a Responsible, Sustainable Business for the Future Impact on our Impact on people Impact through footprint and communities integrity and governance • In FY26, diverted 14 tons of surplus • Spruce1 is designed to support • We are committed to strong office furniture/equipment f
Slide 36: Experienced, Largely Independent Board With Deep Expertise
H &R B LO C K Experienced, Largely Independent Board With Deep Expertise Curtis Campbell Richard A. Johnson Geralyn Breig Christian Charnaux Sean Cohan Robert Gerard Director since 2026 Director since 2015 Director since 2026 Director since 2026 Director since 2021 Director since 2007 Mr. Campbell i
Slide 37: Proven Leadership Team Executing H&R Block's Growth Strategy
H &R B LO C K Proven Leadership Team Executing H&R Block’s Growth Strategy Curtis Campbell Tiffany Mason Alicia Chrapaty Mark Darling President and CEO Chief Financial Officer Chief Marketing Officer Chief Retail Officer Scott Manuel Dara Redler Piritta van Rijn Charlene Wilson Chief Strategy & Ops
Slide 38: H&R Block: Investment Thesis Recap
H &R B LO C K H&R Block: Investment Thesis Recap 38
Slide 39: In Summary: Why Invest in H&R Block
H &R B LO C K Why Invest in H&R Block Durable Business Model National Scale & Compelling Financial in Stable Industries Strong Brand Recognition Profile & Capital Allocation Primary business anchored in Strong brand awareness and trust Solid balance sheet and liquidity essential tax preparation serv
Slide 40: Durable Business Model in Stable Industries
H &R B LO C K Durable Business Model in Stable Industries ~1% Tax Prep >140M Annual H&R Block has demonstrated Industry CAGR Tax Returns consistent financial performance supported by the dependable demand for annual tax filings. The consumer tax Decades of Vast and Essential In Summary industry has
Slide 41: National Scale and Strong Brand Recognition
H &R B LO C K National Scale and Strong Brand Recognition Trusted Brand 1 ~8,600 Retail Extensive Serving ~20 With 70+ Year Offices Across the Network of Tax Million Clients Legacy U.S. Professionals Annually through Omni-Channel Model In Summary Founded in 1955, H&R Block H&R Block operates retail
Slide 42: Compelling Financial Profile and Capital Allocation
H &R B LO C K Compelling Financial Profile and Capital Allocation Financial Foundation Strengthened Strong Track by Fewer Record of Shares Capital Returns Outstanding Disciplined, In Summary Long-Standing • $5.2B returned to shareholders through • Ongoing buybacks have meaningfully reduced the Relia
Slide 43: Appendix
H &R B LO C K Appendix 43
Slide 44: Non-GAAP Measure: EBITDA
Non-GAAP Measure: EBITDA The following is a reconciliation of net income to EBITDA from continuing operations, which is a non-GAAP financial measure: (in 000s) Year ended Year ended Year ended Year ended Year ended EBITDA June 30, 2026 June 30, 2025 June 30, 2024 June 30, 2023 June 30, 2022 Net inco
Slide 45: Non-GAAP Measure: Adjusted EPS
Non-GAAP Measure: Adjusted EPS The following is a reconciliation of our results from continuing operations to our adjusted results from continuing operations, which is a non-GAAP financial measure: (in 000s, except per share amounts) Year ended Year ended Year ended Year ended Year ended ADJUSTED EP
Slide 46: Non-GAAP Measure: Free Cash Flow
Non-GAAP Measure: Free Cash Flow The following is a reconciliation of operating cash flows to free cash flow, which is a non-GAAP financial measure: (in000s) Three Months Six Months Three Months Nine Months Three Months Year ended Three Months ended ended ended ended ended June 30 ended Fiscal Year