MEDIUMOutside partySupplier
single vendor or limited number of vendors
“10-K Item 1A: 'We rely on a single vendor or a limited number of vendors to provide certain key services or products'”
HRB · Concentration risk · 10-K extracted
H&R Block (HRB) concentration risks
Updated
The most significant concentration H&R Block discloses is single vendor or limited number of vendors, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: H&R Block’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCounterparty
Pathward bank partner
“10-K Item 1A: 'Pathward®, N.A. (Pathward), a wholly-owned subsidiary of Pathward Financial, Inc., for the issuance of RTs, EAs, RAs, Emerald Cards, and Spruce accounts'”
MEDIUMOutside partySupplier
Microsoft Azure cloud computing services
“10-K Item 1A: 'Our software and computer systems utilize cloud computing services provided by Microsoft Corporation.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-04H&R Block's disclosed concentrations are all medium-share dependencies on outside providers, and none carries a quantified percentage in the filing. The company relies on a single vendor or a limited number of vendors for certain key services or products. It also depends on Pathward, N.A., a subsidiary of Pathward Financial, Inc., for the issuance of refund transfers, emerald advances, refund advances, Emerald Cards, and Spruce accounts. And its software and computer systems use cloud computing services provided by Microsoft Corporation. These exposures share a common character: each is a supplier or counterparty relationship rather than a structural feature of the customer base or geography. That makes them idiosyncratic. The bank-partner relationship is probably the most consequential, because it underpins the financial products attached to the core tax-preparation service, and it is also the one most exposed to regulatory or contractual change. The cloud dependency is operational, where an outage during peak filing season would be the realistic failure mode. The general vendor dependency is the least specific. Because no shares are disclosed, the size bands are the only sizing guide. Taken together, the risk is one of service continuity and counterparty terms, not customer or geographic concentration.
For the engine’s reasoning on HRB’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Personal Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BFAM | Bright Horizons Family Solution | 1 | 0 | 0 | 1 |
| HRB● | H&R Block, Inc. | 0 | 3 | 0 | 3 |
| FTDR | frontdoor, inc. | 0 | 1 | 0 | 1 |
| ROL | Rollins, Inc. | 0 | 0 | 1 | 1 |
| ANDG | Andersen Group Inc. | 0 | 0 | 0 | 0 |
| CSV | Carriage Services, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.