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H&R Block cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$237M in Q4 FY26

Operating cash flow$252M
Capital spending−$15.5M
Free cash flow+$237M
Cash / net income0.9×

Analysis

In Q4 FY26, H&R Block generated $252M of operating cash flow and spent $15.5M on capital projects, leaving free cash flow of $237M. That is $4.8M less than in Q4 FY25 ($241M).

Operating cash flow was $252M against net income of $294M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$327M, receivables +$220M, depreciation & amortization +$32.0M.

Free cash flow

H&R Block: free cash flow by quarterH&R Block: free cash flow by quarter−$347MQ1 FY25−$597MQ2 FY25$1.3BQ3 FY25$241MQ4 FY25−$370MQ1 FY26−$649MQ2 FY26$1.5BQ3 FY26$237MQ4 FY26
Operating cash flow less capital spending.
H&R Block: operating cash flow against capital spendingH&R Block: operating cash flow against capital spendingOperating cash flowCapital spending−$329M$18.7MQ1 FY25−$567M$30.4MQ2 FY25$1.3B$22.7MQ3 FY25$252M$10.2MQ4 FY25−$357M$13.2MQ1 FY26−$614M$35.5MQ2 FY26$1.6B$18.4MQ3 FY26$252M$15.5MQ4 FY26
Latest (Q4 FY26): Operating cash flow $252M, Capital spending $15.5M.

Capital allocation, year by year

H&R Block: where the cash came from (up) and went (down), by fiscal yearH&R Block: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsDividendsFY22: Operating cash flow $809MFY22: Net borrowing −$500MFY22: Shares issued $6.3MFY22: Capital spending −$62.0MFY22: Acquisitions −$35.9MFY22: Dividends −$186M$815MFY22FY23: Operating cash flow $822MFY23: Shares issued $3.4MFY23: Capital spending −$69.7MFY23: Acquisitions −$48.2MFY23: Dividends −$178M$825MFY23FY24: Operating cash flow $721MFY24: Capital spending −$63.7MFY24: Acquisitions −$43.4MFY24: Dividends −$180M$721MFY24FY25: Operating cash flow $681MFY25: Capital spending −$82.0MFY25: Acquisitions −$35.5MFY25: Dividends −$197M$681MFY25FY26: Operating cash flow $839MFY26: Net borrowing −$3.0MFY26: Capital spending −$82.6MFY26: Acquisitions −$57.6MFY26: Dividends −$211M$839MFY26
Over these 5 years operating cash flow totalled $3.9B; the largest uses were dividends ($953M) and net borrowing ($503M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$959M
Debt$1.5B
Net debt$533M

H&R Block funds itself: free cash flow was — over the last twelve months, and $959M of cash and investments stands against $1.5B of debt.

Where the cash came from and went

H&R Block: sources (+) and uses (−) of cash, Q4 FY26H&R Block: sources (+) and uses (−) of cash, Q4 FY26Net borrowing (+) / repaid (−)−$350MOperating cash flow$252MOther financing$248MCash drawn (+) / kept (−)−$91.2MDividends−$53.2MOther investing$15.8MCapital spending−$15.5MExchange rates−$3.8MAcquisitions−$2.6M

From profit to cash

H&R Block: net income to operating cash flow, Q4 FY26H&R Block: net income to operating cash flow, Q4 FY26Net income$294MDepreciation & amortization$32.0MStock-based pay$8.3MReceivables$220MPayables−$327MPrepaid and other assets$12.2MOther liabilities−$7.7MIncome taxes payable$2.7MOperating cash flow$252M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2612—20-7
Q2 FY2696—3957
Q1 FY2629—49-20
Q3 FY2513—18-4
Q2 FY25100—4457
Q1 FY2533—54-21

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q4 FY26$252M−$15.5M−$2.6M−$53.2M−$350M−$91.2M$237M
Q3 FY26$1.6B−$18.4M−$19.7M−$53.2M−$945M−$518M$1.5B
Q2 FY26−$614M−$35.5M−$30.3M−$54.3M$730M$28.5M−$649M
Q1 FY26−$357M−$13.2M−$5.1M−$50.2M$245M$606M−$370M
Q4 FY25$252M−$10.2M−$195K−$50.2M—−$213M$241M
Q3 FY25$1.3B−$22.7M−$7.3M−$50.2M−$790M−$448M$1.3B
Q2 FY25−$567M−$30.4M−$22.1M−$52.3M$890M$97.5M−$597M
Q1 FY25−$329M−$18.7M−$5.9M−$44.7M—$636M−$347M

H&R Block: income statement and cash flow

H&R Block, Q4 FY26: revenue $1.1B (+3% year over year), operating margin 32.9%. The chart follows the revenue to costs, profit and cash.

H&R Block: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.