H&R Block vs Matthews International
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KIRA’s take AI analyst
I put H&R Block and Matthews International side by side, using each one’s latest annual report. Here is what stands out:
- H&R Block is the larger business, with $3.9B of revenue in fiscal 2026 against $1.5B for Matthews International, about 2.6 times as much.
- H&R Block grew revenue faster (4.9%, against −16.6%).
- H&R Block turned more of its sales into free cash flow (19.2% FCF margin, against −4.0%).
- H&R Block earned a higher return on the capital invested in it (129.0%, against 3.2%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
H&R Block
HRB
9/9
Revenue growth5-year growthGross marginNet marginFCF marginReturn on capitalPiotroski F-scoreNet debt / EBITDAShare count change
Matthews International
MATW
0/9
Side by side
Best in the row
| Latest fiscal year | HRB FY26 | MATW FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.4B | $605M |
| Revenue | $3.9B | $1.5B |
| Free cash flow | $756M | −$59.4M |
| Net income | $734M | −$24.5M |
| Growth | ||
| Revenue growth | 4.9% | −16.6% |
| 5-year growth | 2.9% | −0.0% |
| Share count change | −6.2% | 0.6% |
| Profitability | ||
| Gross margin | 44.3% | 33.9% |
| Operating margin | — | 5.0% |
| Net margin | 18.6% | −1.6% |
| FCF margin | 19.2% | −4.0% |
| Return on capital | 129.0% | 3.2% |
| Return on equity | — | −5.3% |
| Balance sheet | ||
| Net debt | $533M | $678M |
| Net debt / EBITDA | 0.5x | 4.6x |
| Dividends and buybacks | $211M | $45.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 8 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.