H&R Block normalized EPS valuation

H&R Block Inc (HRB)
By@hypertonx
Assumptions as of 2026-09-29
USD
Updated Sep 29, 2026 · Revised 2 times
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H&R Block normalized EPS valuation

as of 2026-09-29

FY2027 normalized net income
$740
FY2027 diluted shares
120.6
FY2027 normalized adjusted EPS
$6.14
Implied equity value
$7,405
Fair value per share
$61.38
Upside / downside
39.3%
127.0million shares
$44.05USD/share
Latest HRB quote · updated Oct 9, 2026 2:00 PM MDT
$5.31USD/share
5.0%
9.8%
10

Sources

  1. September 29 Modeledge reference HRB stock price $40.58, retrieved 2026-09-29T15:15:03.816892-06:00; a post-session reference snapshot, not an asserted official close. No operating or intrinsic valuation inputs changed in this review. (accessed 2026-09-29)
  2. September 29 proxy review: proposed 2026 plan reserves 6.5M shares and replaces 8.242771M unused 2018-plan capacity; it is subject to November 10 approval and is not issued dilution. 2.220954M outstanding unvested awards were disclosed at September 11, and 122.493064M basic shares at the September 15 record date. Do not substitute basic shares for the existing weighted diluted EPS denominator or add all authorized awards. Retain $5.31 FY2026 EPS, 9.812% operating growth, 5% net share reduction and 10x. ARS PDF could not be extracted/opened; full annual review remains unresolved. — modeledge.ai (accessed 2026-09-29)
  3. Additional supporting record for the September 29 HRB review. — modeledge.ai (accessed 2026-09-29)
  4. FY2026 adjusted EPS was $5.31. FY2027 guidance calls for $4.11B-$4.16B revenue, $1.11B-$1.14B adjusted EBITDA, and $6.04-$6.24 adjusted diluted EPS. — sec.gov (accessed 2026-08-11)
  5. Management raised FY2026 adjusted diluted EPS guidance to $5.10-$5.20 and reported 127.813 million Q3 diluted weighted-average shares; the board also authorized an incremental $100 million of Q4 repurchases within the existing program. — sec.gov
  6. HRB current market quotation used as the comparison price on July 29, 2026. — nyse.com

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