A Business at a Glance
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CBIZ, Inc.
CBZ
$2.7B
Mkt Cap
$42.63
+5.91%
CBIZ, Inc. (CBZ) has a current P/E ratio of 23.3, compared to its historical median P/E of 21.4. The stock is currently considered Fair based on its historical valuation range.
CBIZ, Inc. (CBZ) has a 5-year average return on invested capital (ROIC) of 6.3%. This is below average and may indicate limited pricing power.
CBIZ, Inc. (CBZ) has a market capitalization of $2.7B. It is classified as a mid-cap stock.
CBIZ, Inc. (CBZ) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 5.95%.
Based on historical P/E analysis, CBIZ, Inc. (CBZ) appears fair. The current P/E of 23.3 is 9% above its historical median of 21.4. The estimated fair value CAGR (P/E method) is 7.8%.
CBIZ, Inc. (CBZ) operates in the Services-Business Services, Nec industry, within the Industrials sector.
CBIZ, Inc. (CBZ) reported annual revenue of $2.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
CBIZ, Inc. (NYSE: CBZ) is a leading professional services advisor to middle-market businesses nationwide. With industry knowledge and expertise in accounting, tax, advisory, benefits, insurance, and technology, CBIZ delivers actionable insights to help clients anticipate what is next and discover new ways to accelerate growth. CBIZ has more than 9,500 team members across more than 140 locations in 23 major markets coast to coast. Business Strategy Since the Company’s founding in 1996, CBIZ has been committed to building an organization that offers unparalleled services and expertise across its industries, addressing its clients' most critical, time-sensitive needs while delivering forward-thinking solutions and actionable insights. A key component of the Company’s strategy is growth by acquisition.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Accounting, tax, advisory and consulting | $734M | $1.01B | $1.16B | $1.36B | $2.30B | 68% |
Financial service | $175M | $235M | $260M | $307M | $651M | 19% |
Core Benefits and Insurance Services | $320M | $342M | $366M | $384M | $392M | 11% |
Managed networking, hardware services | $28M | $34M | $37M | $42M | $47M | 1% |
Non-core Benefits and Insurance Services | $13M | $16M | $17M | $17M | $18M | 1% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.8B | 2.8B | 1.8B | 1.6B | 1.4B | 1.1B |
| Net Income | 115M | 115M | 41M | 121M | 105M | 71M |
| EPS | $1.83 | $1.83 | $0.78 | $2.39 | $2.01 | $1.32 |
| Free Cash Flow | 176M | 176M | 111M | 130M | 117M | 122M |
| ROIC | 4.7% | 5.0% | 2.1% | 8.6% | 10.5% | 5.4% |
| Gross Margin | 12.9% | 12.9% | 10.1% | 14.0% | 15.8% | 14.4% |
| Debt/Equity | 1.04 | 1.04 | 1.04 | 1.09 | 1.04 | 0.69 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 234M | 234M | 74M | 165M | 168M | 73M |
| Operating Margin | 8.5% | 8.5% | 4.1% | 10.4% | 11.9% | 6.6% |
| ROE | 6.6% | 6.5% | 3.2% | 16.1% | 14.9% | 10.1% |
| Shares Outstanding | 63M | 63M | 53M | 51M | 52M | 54M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 719M | 750M | 800M | 855M | 922M | 948M | 964M | 1.1B | 1.4B | 1.6B | 1.8B | 2.8B | 2.8B |
| Gross Margin | 12.5% | 13.1% | 12.8% | 11.7% | 14.3% | 13.2% | 14.4% | 14.4% | 15.8% | 14.0% | 10.1% | 12.9% | 12.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 34M | 33M | 36M | 33M | 39M | 44M | 46M | 56M | 55M | 58M | 109M | 121M | 121M |
| EBIT | 55M | 66M | 66M | 66M | 93M | 81M | 92M | 73M | 168M | 165M | 74M | 234M | 234M |
| Op. Margin | 7.7% | 8.7% | 8.2% | 7.8% | 10.0% | 8.5% | 9.6% | 6.6% | 11.9% | 10.4% | 4.1% | 8.5% | 8.5% |
| Net Income | 30M | 34M | 40M | 50M | 62M | 71M | 78M | 71M | 105M | 121M | 41M | 115M | 115M |
| Net Margin | 4.1% | 4.5% | 5.0% | 5.9% | 6.7% | 7.5% | 8.1% | 6.4% | 7.5% | 7.6% | 2.3% | 4.2% | 4.2% |
| Non-Recurring | 100K | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.1% | 5.5% | 4.7% | 5.2% | 8.4% | 6.9% | 7.5% | 5.4% | 10.5% | 8.6% | 2.1% | 5.0% | 4.7% |
| ROE | 7.7% | 8.2% | 8.8% | 10.0% | 11.0% | 11.3% | 11.5% | 10.1% | 14.9% | 16.1% | 3.2% | 6.5% | 6.6% |
| ROA | 3.2% | 3.4% | 3.8% | 4.4% | 5.2% | 5.5% | 5.4% | 4.5% | 6.0% | 6.2% | 1.3% | 2.6% | 2.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 44M | 47M | 74M | 77M | 105M | 98M | 147M | 131M | 126M | 154M | 124M | 192M | 192M |
| Free Cash Flow | 39M | 40M | 70M | 65M | 91M | 84M | 135M | 122M | 117M | 130M | 111M | 176M | 176M |
| Owner Earnings | 18M | 21M | -493M | -542M | 75M | 69M | 115M | 93M | 79M | 105M | 62M | 68M | 68M |
| CapEx | 4.8M | 7.4M | 4.1M | 12M | 15M | 14M | 12M | 9.0M | 8.6M | 23M | 13M | 17M | 17M |
| Maint. CapEx | 20M | 20M | 22M | 23M | 24M | 22M | 23M | 27M | 33M | 36M | 48M | 98M | 98M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 20M | 20M | 22M | 23M | 24M | 22M | 23M | 27M | 33M | 36M | 48M | 98M | 98M |
| CapEx/OCF | 11.0% | 15.6% | 5.6% | 15.4% | 13.9% | 14.1% | 7.9% | 6.8% | 6.9% | 15.0% | 10.4% | 8.8% | 8.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 28M | 36M | 9.1M | 20M | 17M | 27M | 56M | 97M | 123M | 65M | 0 | 160M | 160M |
| Buyback Yield | 6.3% | 6.9% | 1.2% | 2.3% | 1.6% | 1.8% | 3.8% | 4.6% | 5.0% | 2.1% | N/A | 4.8% | 6.0% |
| Stock-Based Comp | 6.2M | 5.7M | 545M | 596M | 6.9M | 7.3M | 8.9M | 11M | 15M | 12M | 14M | 26M | 26M |
| Debt Repayment | 346M | 310M | 431M | 547M | 733M | 679M | 590M | 805M | 715M | 1.2B | 21M | 983K | 983K |
| Balance Sheet | |||||||||||||
| Net Debt | 215M | 410M | 379M | 358M | 212M | 310M | 357M | 446M | 692M | 816M | 1.8B | 1.8B | 1.8B |
| Cash & Equiv. | 979K | 850K | 3.5M | 424K | 640K | 567K | 4.7M | 2.0M | 4.7M | 8.1M | 14M | 18M | 18M |
| Long-Term Debt | 107M | 205M | 190M | 178M | 134M | 104M | 107M | 155M | 264M | 311M | 1.3B | 1.4B | 1.4B |
| Debt/Equity | 0.54 | 0.96 | 0.80 | 0.67 | 0.45 | 0.56 | 0.55 | 0.69 | 1.04 | 1.09 | 1.04 | 1.04 | 1.04 |
| Interest Coverage | 4.2 | 7.4 | 10.0 | 10.0 | 13.9 | 14.0 | 18.6 | 18.8 | 20.9 | 8.2 | 2.1 | 2.2 | 2.2 |
| Equity | 400M | 428M | 480M | 531M | 594M | 659M | 703M | 705M | 713M | 792M | 1.8B | 1.8B | 1.8B |
| Total Assets | 991M | 996M | 1.1B | 1.2B | 1.2B | 1.4B | 1.5B | 1.6B | 1.9B | 2.0B | 4.5B | 4.4B | 4.4B |
| Total Liabilities | 591M | 568M | 639M | 645M | 589M | 742M | 811M | 923M | 1.2B | 1.3B | 2.7B | 2.6B | 2.6B |
| Intangibles | 91M | 88M | 97M | 85M | 73M | 66M | 74M | 100M | 132M | 143M | 614M | 540M | 540M |
| Retained Earnings | 221M | 255M | 295M | 345M | 409M | 480M | 558M | 629M | 734M | 855M | 896M | 1.0B | 1.0B |
| Working Capital | 84M | 101M | 102M | 114M | 102M | 90M | 58M | 28M | 56M | 101M | 130M | 164M | 164M |
| Current Assets | 379M | 372M | 442M | 448M | 424M | 456M | 436M | 452M | 568M | 613M | 836M | 899M | 899M |
| Current Liabilities | 295M | 271M | 339M | 334M | 321M | 366M | 378M | 423M | 512M | 512M | 706M | 736M | 736M |
| Per Share Data | |||||||||||||
| EPS | 0.58 | 0.65 | 0.75 | 0.91 | 1.09 | 1.26 | 1.41 | 1.32 | 2.01 | 2.39 | 0.78 | 1.83 | 1.83 |
| Owner EPS | 0.35 | 0.41 | -9.23 | -9.80 | 1.32 | 1.22 | 2.07 | 1.73 | 1.50 | 2.07 | 1.17 | 1.08 | 1.08 |
| Book Value | 7.79 | 8.16 | 8.99 | 9.59 | 10.51 | 11.75 | 12.65 | 13.12 | 13.61 | 15.64 | 33.83 | 27.93 | 27.93 |
| Cash Flow/Share | 0.86 | 0.90 | 1.39 | 1.39 | 1.86 | 1.75 | 2.64 | 2.44 | 2.41 | 3.03 | 2.35 | 3.05 | 3.39 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 51.3M | 52.5M | 53.4M | 55.4M | 56.5M | 56.1M | 55.5M | 53.7M | 52.4M | 50.6M | 52.6M | 63.1M | 63.1M |
| Valuation | |||||||||||||
| P/E Ratio | 15.1 | 15.5 | 18.3 | 17.0 | 17.9 | 21.4 | 19.0 | 29.9 | 23.2 | 26.2 | 105.2 | 28.9 | 23.3 |
| P/FCF | 11.5 | 13.2 | 10.5 | 13.1 | 12.2 | 17.9 | 11.0 | 17.4 | 20.8 | 24.3 | 39.0 | 19.0 | 15.3 |
| EV/EBIT | 11.9 | 14.3 | 16.9 | 18.2 | 14.2 | 20.6 | 18.1 | 32.9 | 17.4 | 22.7 | 77.1 | 20.2 | 19.2 |
| Price/Book | 1.1 | 1.2 | 1.5 | 1.6 | 1.9 | 2.3 | 2.1 | 3.0 | 3.4 | 4.0 | 2.4 | 1.9 | 1.5 |
| Price/Sales | 0.6 | 0.7 | 0.7 | 1.0 | 1.3 | 1.3 | 1.4 | 1.6 | 1.6 | 1.7 | 2.1 | 1.5 | 1.0 |
| FCF Yield | 8.7% | 7.6% | 9.6% | 7.6% | 8.2% | 5.6% | 9.1% | 5.8% | 4.8% | 4.1% | 2.6% | 5.3% | 6.5% |
| Market Cap | 448M | 529M | 732M | 855M | 1.1B | 1.5B | 1.5B | 2.1B | 2.4B | 3.2B | 4.3B | 3.3B | 2.7B |
| Avg. Price | 8.71 | 9.60 | 10.89 | 14.79 | 20.52 | 22.16 | 24.11 | 33.04 | 42.65 | 52.41 | 73.06 | 67.52 | 42.63 |
| Year-End Price | 8.74 | 10.08 | 13.70 | 15.45 | 19.55 | 26.92 | 26.82 | 39.51 | 46.59 | 62.60 | 82.02 | 52.93 | 42.63 |
CBIZ, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
CBIZ, Inc. trades at 23.3x trailing earnings, compared to its 15-year median P/E of 21.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 12.2x vs a median of 17.6x. The company's 5-year average ROIC is 6.3% with a gross margin of 13.4%. Total shareholder yield (buybacks) is 6.0%. At current prices, the estimated annualized return to fair value is +4.8%.
CBIZ, Inc. (CBZ) has a net profit margin of 4.2%. This is a modest margin.
CBIZ, Inc. (CBZ) generated $176 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CBIZ, Inc. (CBZ) has a debt-to-equity ratio of 1.04. This indicates moderate leverage.
CBIZ, Inc. (CBZ) reported earnings per share (EPS) of $1.83 in its most recent fiscal year.
CBIZ, Inc. (CBZ) has a return on equity (ROE) of 6.5%. This indicates moderate shareholder returns.
CBIZ, Inc. (CBZ) has a 5-year average gross margin of 13.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for CBIZ, Inc. (CBZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CBIZ, Inc. (CBZ) has a book value per share of $27.93, based on its most recent annual SEC filing.