H&R Block Inc (HRB)
Pretax margin
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Apr 30, 2021 | Mar 31, 2021 | Jan 31, 2021 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 781,403 | 763,819 | 712,996 | 742,421 | 762,322 | 787,235 | 735,305 | 720,176 | 711,212 | 629,549 | 635,978 | 635,063 | 659,069 | 595,821 | 797,474 | 1,220,434 | 1,133,089 | 1,968,109 | 666,326 | 258,784 |
| Revenue (ttm) | US$ in thousands | 3,760,990 | 3,712,610 | 3,620,340 | 3,620,353 | 3,610,343 | 3,579,863 | 3,488,683 | 3,476,005 | 3,472,190 | 3,490,110 | 3,458,220 | 3,450,631 | 3,463,270 | 2,666,961 | 2,911,941 | 3,354,155 | 3,447,914 | 5,522,333 | 3,360,945 | 3,068,142 |
| Pretax margin | 20.78% | 20.57% | 19.69% | 20.51% | 21.11% | 21.99% | 21.08% | 20.72% | 20.48% | 18.04% | 18.39% | 18.40% | 19.03% | 22.34% | 27.39% | 36.39% | 32.86% | 35.64% | 19.83% | 8.43% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $781,403K ÷ $3,760,990K
= 20.78%
The pretax margin of H&R Block Inc exhibits notable fluctuations over the observed period from January 31, 2021, through June 30, 2025. In early 2021, the pretax margin started at approximately 8.43%, indicating a relatively modest profitability before taxes. Subsequently, the margin experienced a significant increase, reaching nearly 36.39% by September 30, 2021, reflecting a substantial improvement in pretax profitability during that period.
During the subsequent quarters of 2022 and early 2023, the pretax margin displayed a declining trend, decreasing from around 22.34% at the end of March 2022 to roughly 18.04% by March 31, 2023. Despite this decline, the margin stabilized somewhat in 2023, maintaining levels close to 20%, with the highest point in this period reaching approximately 21.99% on March 31, 2024.
From mid-2024 onward, the pretax margin has demonstrated relative stability with slight fluctuations, ranging between approximately 19.69% and 21.11%. Notably, the margin increased marginally from 20.57% on March 31, 2025, to around 20.78% on June 30, 2025.
Overall, the data indicates that H&R Block’s pretax margin has experienced periods of significant volatility, with an initial sharp increase followed by a period of stabilization at higher levels compared to the early 2021 figures. This pattern suggests variability in profitability driven potentially by operational efficiencies, changes in revenue mix, cost management, or other strategic factors impacting pretax earnings during the observed timeframe.
Peer comparison
Jun 30, 2025