H&R Block, Inc.

H&R Block, Inc.

H&R Block, Inc.

Overview
Date Founded

1955

Headquarters

One H&R Block Way, Kansas City, MO, 64105, USA

Type of Company

Public

Employees (Worldwide)

80.5K

Industries

Accounting & Financial Services
Retail: Other
Other Business & Consulting Services
Pension Funds & Sovereign Wealth
Retail & Commercial Banking
Consumer Services

Company Description

H&R Block, Inc. engages in the provision of tax preparation and other services. It offers assisted and do-it-yourself tax return preparation solutions through multiple channels and distribute the H&R block-branded financial products and services, including those of its financial partners, to the general public primarily in the United States, Canada, and Australia. The company was founded by Henry W. Bloch and Richard A. Bloch on January 25, 1955 and is headquartered in Kansas City, MO.

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Executives & Employees

President, Chief Executive Officer & Director

Chief Financial Officer

General Counsel & Chief Administrative Officer

Senior Vice President & Chief Marketing Officer

Chief Marketing Officer

Chief Strategy & Development Officer

Treasurer, Chief Risk Officer & Vice President

Senior Vice President & Chief Information Officer

Chief Accounting Officer & Vice President

Chief People Officer

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Owners & Shareholders
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JAM's fund managers carry out rigorous research by examining company reports, news flow and through face-to-face meetings with the senior management of the companies in their investment universe. This process provides their teams with the intelligence required to asses whether a share or bond meets the criteria for inclusion in their portfolios. The outcome is a portfolio focused on those shares or bonds that satisfy their fund managers' individual investment process and in which they have the highest belief. JAM's fund managers employ a bottom-up approach to construct portfolios specializing in UK and European equities, global financials and emerging Europe. They complement their core strengths in equity and multi-manager products with multi-asset, fixed-income and absolute return offerings. While their fund managers work as a team to share stock ideas and debate market prospects, each manager has individual responsibility for their own portfolios. JAM regularly reviews key statistics for funds and utilizes tracking error, absolute volatility and factor risk at country, industry and stock level as their main measures of risk. Their SRI team aims to deliver long-term performance by investing in companies with positive growth, supported by trends in environmental and social policies and regulations focusing on clean energy, water management, green transport, waste management, sustainable living and environmental services.

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Hamlin Capital Management manages clients assets based on the individual needs of each client. The firm identifies client-specific investment objectives and/or restrictions, mutually agreed upon asset allocation between equities, debt securities, and cash or cash equivalents, and the types of investments to be held. Clients may impose restrictions on their account based on specific securities, security type, bond term, or industry type, among others.Hamlin's approach to asset management emphasizes current income. High-yield equities and high-yield municipal and taxable bonds constitute a majority of a client's portfolio. The high-yield municipal bond strategy is also available with both a short-term bond mandate, as well as a long-term bond mandate. The balance is generally invested in government instruments, money market funds, and cash or cash instruments. Hamlin's investment supervisory services also include transactions in certificates of participation. The firm can utilize long-term purchases and trading to implement their investment strategies.Hamlin focuses on stocks with dividend yields at approximately one and a half times or higher than that of the S&P 500 index yield. Within this high income universe, they search for companies with manageable debt, ample free cash flow and attractive returns on equity. While their strong balance sheet and dividend discipline generates mostly large company holdings, the firm invests across all market capitalizations. Hamlin is particularly interested in high dividend-yielding stocks with strong balance sheets that they believe are under-followed by other managers and Wall Street analysts. The municipal and taxable bonds and other debt-related securities in which Hamlin invests clients' assets are usually non-rated, high-yield securities.

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Unigestion aims to minimize downside losses and generate long-term outperformance by constructing diversified portfolios. Their investment approach is to seek attractive returns from private equity investments, focusing on buyout, growth capital and carefully selected special situations in small and mid-sized companies globally, while seeking diversification of risk.

Recent Transactions
Details Hidden

H&R Block, Inc. purchases Wave Financial, Inc. from The Social+Capital Partnership LLC, NAB Ventures Pty Ltd., Exhibition Capital, Inc., Charles River Ventures, Inc., INKEF Capital BV, HarbourVest Partners LLC, BDC Venture Capital, OMERS Ventures Management, Inc., Portag3 Ventures, Huff Capital, Inc., Rtl Group Investments Pty Ltd.

Details Hidden

Axos Financial, Inc., Axos Bank purchase H&R Block Bank from H&R Block, Inc.

Details Hidden

RSM US LLP purchases RSM McGladrey, Inc. from H&R Block, Inc.

Transaction Advisors
Accountant

Advised onH&R Block, Inc. purchases Option One Mortgage Corp. from FleetBoston Financial Corp.

Accountant

Advised onH&R Block, Inc., RSM McGladrey, Inc. purchase American Express Co. /Tax & Business Services Ops from American Express Co.

Investment Advisor

Advised onInvesco Ltd., W.L. Ross & Co. LLC purchase Option One Mortgage Corp. from H&R Block, Inc.

Legal Advisor

Advised onAxos Financial, Inc., Axos Bank purchase H&R Block Bank from H&R Block, Inc.

Legal Advisor

Advised onH&R Block, Inc. purchases Wave Financial, Inc. from HarbourVest Partners LLC, Charles River Ventures, Inc., BDC Venture Capital, INKEF Capital BV, The Social+Capital Partnership LLC, OMERS Ventures Management, Inc., NAB Ventures Pty Ltd., Portag3 Ventures, Huff Capital, Inc., Exhibition Capital, Inc., Rtl Group Investments Pty Ltd.

Legal Advisor

Advised onH&R Block, Inc. purchases Wave Financial, Inc. from HarbourVest Partners LLC, Charles River Ventures, Inc., BDC Venture Capital, INKEF Capital BV, The Social+Capital Partnership LLC, OMERS Ventures Management, Inc., NAB Ventures Pty Ltd., Portag3 Ventures, Huff Capital, Inc., Exhibition Capital, Inc., Rtl Group Investments Pty Ltd.

Advisors & Consultants
Legal Advisor

Chair, Mergers & Acquisitions Practice at Jones Day

Legal Advisor

Partner at Schulte Roth & Zabel LLP

Legal Advisor

Partner at Wilson Sonsini Goodrich & Rosati PC

Key Stats and Financials As of 2020
Market Capitalization
$2.68B
Total Enterprise Value
$4.39B
Earnings Per Share
$-0.04
Revenue
$2.64B
EBITDAMargin
13.36%
Enterprise Value Sales
1.66x
TEVNet Income
-538.18x
Debt TEV
0.91x
EBITDA
$353M
Total Debt
$4B
Total Equity
$71M
Net Profit
$-8.16M
Enterprise Value EBITDAOperating
11.02x
Three Year Compounded Annual Growth Rate Of Revenue
-4.56%
Non-Profit Donations & Grants
Political Donations
$1,000
2014
$1,000
2014
$1,000
2014
Investments
Details Hidden

MoneyStream, Inc. operates online platform which provides payment billing services. The firm's services include bills detection, organized information, alerts on unusual things and forecasting cash flow. The company was founded by Mike Bertrand and is headquartered in Los Gatos, CA.

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Fidelity National Information Services, Inc. IT Consulting & Services | Jacksonville, FL

Fidelity National Information Services, Inc. (or FIS) is an international provider of financial services technology and outsourcing services. Headquartered in Jacksonville, Florida, FIS employs 52,000 people worldwide. FIS provides payment processing and banking software, services and outsourcing of the associated technology. FIS has over 20,000 clients in more than 130 countries. FIS was ranked second in the FinTech Forward 2016 rankings.

LiveWorld, Inc. Internet Software & Services | San Jose, CA

LiveWorld, Inc. engages in the provision of software and services solutions. It offers conversation management SaaS platforms; management for the pharma industry, moderation, and engagement services; customer services, social analytics, strategy, and media. The company was founded by Peter H. Friedman and Jenna Woodul on April 10, 1996 and is headquartered in San Jose, CA.

Competitors
Intuit, Inc. Computer Software - Mountain View, CA

Intuit, Inc. engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses. The Consumer segment includes do-it-yourself and assisted TurboTax income tax preparation products and services. The Strategic Partner segment comprises professional tax offerings, which include Lacerte, ProSeries, ProFile, and ProConnect Tax Online among professional accountants. The company was founded by Scott D. Cook and Thomas A. Proulx in March 1983 and is headquartered in Mountain View, CA.

Awards & Honors
Rank #712
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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