Positive context积极背景
Stocks股票 / Consumer Disc. / HRB
H&R Block · Consumer Disc.
HRB US listed · USD美股 · 美元
H&R Block, Inc., or H&R Block, is an American tax preparation company operating in Canada, the United States, and Australia. The company was founded in 1955 in Kansas City, Missouri, by brothers Henry W. Bloch and Richard Bloch.H&R布洛克公司（简称H&R Block）是一家美国税务申报公司，业务覆盖加拿大、美国和澳大利亚。该公司于1955年由亨利·W·布洛克和理查德·布洛克兄弟在密苏里州堪萨斯城创立。
Mid cap中盘 · $5B
Consumer Disc.
S&P 400标普400中盘
Cyclical周期股
$42.19
-$0.42 · -0.99%
52w low52周低 $26.76high高 $54.97
Neutral — no clear edge中性 — 无明显优势
A cycle low is due in roughly ~0–2 trading days — watch for the turn, don't front-run it.周期低点预计在约 ~0–2 个交易日内出现——等待转向，切勿抢跑。
As of 2026-09-28截至 2026-09-28
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-28
Momentum (RSI 14)动量（RSI 14）
30
Oversold超卖区域
vs 50-day average相对50日均线
-9.9% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
+9.8% above上方
Long trend up长期向上
Volatility波动率
35th percentile第35百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0538
Estimates being cut预期下调
Beat expectations 4 quarters in a row连续 4 季度超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 8.2%
Valuation估值
Looks cheap vs sector相对行业偏便宜| Multiple指标 | HRB | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 8.83x | 18.46 | |
| P/S市销率 | 1.42x | 1.20 | |
| Earnings yield盈利收益率 | 11.33% | 5.13 | |
| FCF yield自由现金流收益率 | 11.20% | 5.92 | |
| P/FCF市值/自由现金流 | 8.93x | 16.23 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
$3.8B2025
20212025
5-yr growth5年复合增速 2.4%
Earnings per share每股收益
$4.392025
20212025
5-yr growth5年复合增速 9.3%
Free cash flow自由现金流
$598.8M2025
20212025
Net margin净利率
16.1%
FCF margin自由现金流利润率
18.1%
Balance-sheet quality财务体质 6/8
Bankruptcy risk: grey zone破产风险：灰色区
Return on equity股本回报率 -74%
Clean稳健
Leverage杠杆
Current ratio流动比率0.90
Capital allocation资本配置
Stock-based comp股权薪酬$32.5M
Share count change (1y)股数变化（1年）-5.3%
Debt coming due到期债务
FY2025 10-KThe 12-month bucket following fiscal period end 2025-06-30 is not reported. The years below are what the filing did report.文件未披露财年期末 2025-06-30 之后12个月区间的到期金额；下方为其确实披露的年度。
All maturity buckets are measured from fiscal period end 2025-06-30, not from today.所有到期区间均从财年期末 2025-06-30 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
not reported未披露
Year 2第2年
not reported未披露
Year 3第3年
$350.0M
Year 4第4年
not reported未披露
Year 5第5年
not reported未披露
After year 55年以后
not reported未披露
Cash reported at 2026-06-30: $958706000.截至 2026-06-30 披露的现金：$958706000。 Operating cash flow exceeded or equaled equipment spending over 2025-07-01 to 2026-06-30; no cash burn to measure.在 2025-07-01 至 2026-06-30 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Capital-need coverage is partial; incomplete or incompatible filing inputs are not combined.资本需求覆盖信息不完整；不会合并不完整或不兼容的报告数据。
Any available cash-flow scenario is context only. Missing or incompatible inputs are not replaced with zero or a financing forecast.可用现金流情景仅供参考；缺失或不兼容的输入不以零值或融资预测替代。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001605297-25-000016, period ending报告期截至 2025-06-30, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-26T08:02:49.175169+00:00.
1/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive— period_mismatchLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive— period_mismatch
Annual period年度区间 2025-07-01 — 2026-06-30 · USD · 10-K · 0000012659-26-000026 · Filed提交日期 2026-08-14.
Cache acquired缓存获取时间: 2026-09-26T08:02:49.175169+00:00 · Evaluated as of评估截至 2026-09-29.
- Reported operating cash flow已披露经营活动现金流: $838695000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $82614000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $756081000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Macro宏观
Long-duration name into a restrictive, rising-real-rate regime → rate headwind.长久期标的进入偏紧、实际利率上行的环境→利率逆风。
Positioning持仓
Quiet — no confirmed driver平静 — 无明确驱动
Technical技术面
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
Ownership & smart money持仓与聪明钱
13F| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Himalaya Capital (Li Lu) | D | exitexit | 0.0% | 2026-06-30 |
Signal history信号历史
engine events引擎事件
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY. Day 67 of a typical 23-44-day cycle — inside the window where lows usually form, and short-term momentum is washed out. No confirmed turn yet. Last cycle was left-translated (topped early) — a bearish structural tell准备。典型 23-44 天周期的第 67 天——处于低点通常形成的窗口内，且短期动量已被洗净。尚无确认的转向。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Sep 24, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Sep 21, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Sep 17, 2026
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY准备
Sep 11, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Sep 9, 2026
BOTTOMING → NEARING A LOW筑底中 → 接近低点
GET READY准备
Aug 31, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Aug 28, 2026
BOTTOMING → NEARING A HIGH筑底中 → 接近高点
TAKE PROFITS止盈
Showing the last 15 of显示最近15条，共 261 signals条信号
Company profile公司档案
H&R Block, Inc., or H&R Block, is an American tax preparation company operating in Canada, the United States, and Australia. The company was founded in 1955 in Kansas City, Missouri, by brothers Henry W. Bloch and Richard Bloch.H&R布洛克公司（简称H&R Block）是一家美国税务申报公司，业务覆盖加拿大、美国和澳大利亚。该公司于1955年由亨利·W·布洛克和理查德·布洛克兄弟在密苏里州堪萨斯城创立。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Below market低于市场
Quality质量
Below market低于市场
Investment资本投入
Below market低于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Above market高于市场
Earnings quality盈利质量
Below market低于市场
Short interest空头兴趣
Above market高于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Margin compression despite revenue growth
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 8.8× | 18.5× | 91% |
| Price / Sales市销率 | 1.4× | 1.2× | 42% |
| Earnings yield盈利收益率 | 11.3% | 5.1% | 92% |
| Free-cash-flow yield自由现金流收益率 | 12.7% | 8.7% | 68% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
45/100 — middle of the pack居中
vs market, 3 months相对大盘（3个月）
83/100 — stronger than most强于多数
vs market, 6 months相对大盘（6个月）
85/100 — stronger than most强于多数
vs market, 12 months相对大盘（12个月）
31/100 — middle of the pack居中
Rank in sector行业内排名
#78 / 210
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -4.7% | +1.3% |
| 1 Month近1月 | -19.2% | +0.9% |
| 3 Months近3月 | +13.4% | +6.1% |
| 6 Months近6月 | +36.7% | +22.3% |
| Year to date年初至今 | +1.5% | +13.8% |
| 1 Year近1年 | -11.4% | +18.5% |
| 3 Years近3年 | +10.0% | +87.8% |
Trading information交易信息
Beta vs market贝塔
-0.24
Volatility rank波动率分位
35th pctile
Short interest空头占比
13.8% of float
Market cap市值
$5B
EPS (trailing)每股收益
$4.78
Off 52-week high距52周高点
-21.4%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|
| Revenue营业收入 | $3.4B | $3.5B | $3.5B | $3.6B | $3.8B |
| EPS每股收益 | $3.08 | $3.22 | $3.51 | $4.12 | $4.39 |
| Free cash flow自由现金流 | $573M | $747M | $752M | $657M | $599M |
| Gross margin毛利率 | 46.0% | 45.7% | 44.6% | 44.8% | 44.5% |
| Net margin净利率 | 17.1% | 16.0% | 15.9% | 16.5% | 16.1% |
| FCF margin自由现金流利润率 | 16.8% | 21.6% | 21.7% | 18.2% | 15.9% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$3.8B
Net income净利润
$606M
Operating cash flow经营现金流
$681M
Total assets总资产
$2.9B
Shareholder equity股东权益
$-823M
Long-term debt长期负债
$2.4B
Shares outstanding总股本
0.13B
Returns & growth回报与增长
Return on equity股本回报率
-73.6%
Return on assets资产回报率
20.7%
Debt / assets负债/资产
83.1%
Profit growth利润增速
+1.8%
Asset growth资产增速
+8.0%
Accounting quality checks会计质量检查
- Earnings quality: accruals near the peer median盈利质量：应计利润接近同业中位
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Pricing power: gross margin −1.5pts over 5 years定价能力：毛利率 5 年下降 1.5 个百分点
- Capital discipline: investment near the peer median资本纪律：投资力度接近同业中位
- Balance sheet: Altman Z 2.12 — grey zone资产负债表：Altman Z 2.12——灰色区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
30
RSI (2-day)RSI（2日）
7
vs 20-day average相对20日均线
-8.9%
vs 50-day average相对50日均线
-9.9%
vs 200-day average相对200日均线
+9.8%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down动能向下
3-day3日线
momentum down动能向下
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
79/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $2.38 | $2.23 | +6.7% |
| Mar 2026 | $6.02 | $5.69 | +5.8% |
| Dec 2025 | $-1.84 | $-1.96 | +6.1% |
| Sep 2025 | $-1.20 | $-1.40 | +14.3% |
Estimate revisions预期修正
Analysts covering覆盖分析师
1
Estimate direction预期调整方向
mostly cutting多数下调
Estimate change, 90 days预期变化（90天）
-10.6%
Net upgrades, 30 days净上调（30天）
-1
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Himalaya Capital (Li Lu) | D | Exited清仓 | 0.0% | $52M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
1
Buying vs selling买入vs卖出
0 : 1
Quarterly trend季度趋势
{'direction': 'distributing', 'n_quarters': 2, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2026-03-31', 'to_period': '2026-06-30', 'available_on': '', 'available_on_first': '2026-05-16', 'holders_series': [1, 0]}{'direction': 'distributing', 'n_quarters': 2, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2026-03-31', 'to_period': '2026-06-30', 'available_on': '', 'available_on_first': '2026-05-16', 'holders_series': [1, 0]}
Insiders & shorts内部人与空头
Short interest空头占流通盘
13.8%
Days to cover回补天数
10.1
Short interest change空头变化
+4.1%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Seasonality — full detail季节性 — 完整明细
Strongest month最强月份
Mar · 100%
Weakest month最弱月份
Oct · 0%
Month by month逐月统计
| Month月份 | Closed higher收涨占比 | Median move中位涨跌 | Years年数 |
|---|---|---|---|
| Jan1月 | 33% | -3.0% | 3 |
| Feb2月 | 33% | -1.3% | 3 |
| Mar3月 | 100% | +2.0% | 3 |
| Apr4月 | 67% | +0.5% | 3 |
| May5月 | 67% | +5.7% | 3 |
| Jun6月 | 67% | +0.6% | 3 |
| Jul7月 | 67% | +6.8% | 3 |
| Aug8月 | 75% | +9.8% | 4 |
| Sep9月 | 75% | +1.5% | 4 |
| Oct10月 | 0% | -4.6% | 3 |
| Nov11月 | 67% | +0.1% | 3 |
| Dec12月 | 67% | +4.5% | 3 |
History is a tendency, not a promise — small samples wobble.历史规律只是倾向而非保证 — 样本少时波动大。
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。