H&R Block (FRA:HRB) Scaled Net Operating Assets: 0.39 (As of Mar. 2026)


FRA:HRB H&R Block Inc FRA:HRB
78 GF Score
Price €34.21
GF Value €53.62
Valuation Significantly Undervalued
! 1 Warning Sign
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What is H&R Block Scaled Net Operating Assets?

H&R Block FRA:HRB +3.60% 78 Scaled Net Operating Assets is 0.39 as of Mar. 2026. GuruFocus rates FRA:HRB with a GF Score™ of 78/100 and a GF Value™ of €53.62 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

H&R Block's operating assets for the quarter that ended in Mar. 2026 was €2,184 Mil. H&R Block's operating liabilities for the quarter that ended in Mar. 2026 was €1,203 Mil. H&R Block's Total Assets for the quarter that ended in Dec. 2025 was €2,502 Mil. Therefore, H&R Block's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.39.


H&R Block Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for H&R Block's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

H&R Block Scaled Net Operating Assets Chart

H&R Block Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Jun22 Jun23 Jun24 Jun25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.24 0.39 0.29 0.33 0.33

H&R Block Quarterly Data
Apr21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.34 0.33 0.40 0.67 0.39

FRA:HRB vs FTDR, ANDG, BFAM: Scaled Net Operating Assets Comparison

For the Personal Services subindustry, H&R Block's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


H&R Block Scaled Net Operating Assets vs Personal Services Industry

For the Personal Services industry and Consumer Cyclical sector, H&R Block's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where H&R Block's Scaled Net Operating Assets falls into.


FRA:HRB
78GF Score
H&R Block Inc FRA:HRB
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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H&R Block Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

H&R Block's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jun. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jun. 2025 )
=(Operating Assets (A: Jun. 2025 )-Operating Liabilities (A: Jun. 2025 ))/Total Assets (A: Jun. 2024 )
=(1977.299-996.837)/2990.274
=0.33

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2829.8 - 852.501
=1977.299

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2752.727 - 1271.154 - 484.736
=996.837

H&R Block's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(2183.874-1202.633)/2502.229
=0.39

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2933.836 - 749.962
=2183.874

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2954.918 - 1571.267 - 181.018
=1202.633

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.39 mean?
H&R Block (FRA:HRB) has a Scaled Net Operating Assets of 0.39 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on H&R Block and its competitors.
Is H&R Block's Scaled Net Operating Assets too high?
H&R Block's current Scaled Net Operating Assets is 0.39. Overall, H&R Block has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does H&R Block's Scaled Net Operating Assets compare to FTDR and ANDG?
H&R Block's Scaled Net Operating Assets of 0.39 can be compared against companies in the Personal Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Personal Services company?
A good Scaled Net Operating Assets depends on the Personal Services industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on H&R Block and its competitors. H&R Block's current Scaled Net Operating Assets is 0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H&R Block stock overvalued right now?
Based on GuruFocus' analysis, H&R Block (FRA:HRB) is currently considered Significantly Undervalued. The stock's GF Value™ is €53.62, compared to a current price of €34.21 — trading 36.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.39. H&R Block's overall GF Score™ is 78/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For H&R Block (FRA:HRB), the current Scaled Net Operating Assets is 0.39 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is H&R Block (FRA:HRB) Overvalued in 2026?

Based on GuruFocus' analysis, H&R Block stock appears to be undervalued. The current stock price of €34.21 is trading 36.2% below its estimated GF Value™ of €53.62. GuruFocus considers H&R Block to be Significantly Undervalued.

Key valuation signals for FRA:HRB:

  • Scaled Net Operating Assets: 0.39
  • GF Value™: €53.62 vs. price of €34.21 (36.2% below fair value)
  • GF Score™: 78/100 with 1 warning sign

No single metric tells the full story. See the FRA:HRB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


H&R Block Business Description

Address One H&R Block Way, Kansas City, MO, USA, 64105
H&R Block Inc provides income tax return preparation services, digital do-it-yourself tax solutions, and other services related to income tax preparation to the general public in the United States, Canada, and Australia. The company mainly prepares tax returns for customers within the United States through its company-owned offices, franchise locations, and online tax software. The vast majority of H&R Block's offices are located in the U.S. The company derives the majority of its total revenue from the U.S. assisted tax preparation fees. Revenue from franchise and product royalties and digital do-it-yourself tax solutions is also relatively.
78GF Score

Get the complete analysis for FRA:HRB

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€34.21
Price
€53.62
GF Value