CBIZ, Inc. (CBZ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$2.27	$2.5	+10.1%	—	$848.6M	—
Q4 25	-$0.66	-$0.7	-6.1%	—	$542.7M	—
Q3 25	$0.9	$1.01	+12.2%	—	$693.8M	—
Q2 25	$0.84	$0.95	+13.1%	—	$683.5M	—
Q1 25	$2.11	$2.29	+8.5%	—	$838M	—
Q4 24	-$0.29	-$0.2	+31.0%	—	$460.3M	—
Q3 24	$0.76	$0.84	+10.5%	—	$438.9M	—
Q2 24	$0.68	$0.5	-26.5%	—	$420M	—
Q1 24	$1.5	$1.54	+2.7%	—	$494.3M	—
Q4 23	-$0.28	-$0.26	+7.1%	—	$327.5M	—
Q3 23	$0.59	$0.66	+11.9%	—	$410.5M	—
Q2 23	$0.65	$0.55	-15.4%	—	$398.5M	—
Q1 23	$1.27	$1.46	+15.0%	—	$454.6M	—
Q4 22	-$0.21	-$0.21	0.0%	—	$295M	—
Q3 22	$0.46	$0.51	+10.9%	—	$363.3M	—
Q2 22	$0.5	$0.63	+26.0%	—	$362M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.12	—	—	$2.8B	—
FY24	—	$0.82	—	—	$1.8B	—
FY23	—	$2.42	—	—	$1.6B	—
FY22	—	$2.1	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$799.8M	$855.3M	$922M	$948.4M	$963.9M	$1.1B	$1.4B	$1.6B	$1.8B	$2.8B
YoY change	+6.58%	+6.94%	+7.79%	+2.87%	+1.63%	+14.6%	+27.8%	+12.7%	+14%	+52.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	799.8M	855.3M	922M	948.4M	963.9M	1.1B	1.4B	1.6B	1.8B	2.8B
Cost of revenue	697.7M	755.6M	790.3M	823.5M	825.4M	945.6M	1.2B	1.4B	1.6B	2.4B
Gross profit	102.1M	99.8M	131.7M	124.9M	138.5M	159.3M	223.4M	223.2M	182.5M	355.4M
Gross margin	12.8%	11.7%	14.3%	13.2%	14.4%	14.4%	15.8%	14%	10.1%	12.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	36.3M	33.3M	39.2M	44.4M	46.1M	56.1M	55M	58M	108.8M	121.4M
Operating expenses	36.3M	33.3M	39.2M	44.4M	46.1M	56.1M	55M	58M	108.8M	121.4M
Operating income	65.8M	66.5M	92.5M	80.5M	92.5M	103.1M	168.3M	165.2M	73.7M	234M
Operating margin	8.23%	7.77%	10%	8.49%	9.59%	9.33%	11.9%	10.4%	4.06%	8.48%
Non-operating income, net	7.8M	14.5M	-6.1M	18.1M	16M	-6.3M	-18.8M	21.2M	18.5M	34M
Pretax income	67M	74.3M	79.8M	92.9M	103.5M	93M	141.5M	166.3M	57.8M	160.8M
Income tax	26.4M	23.3M	18.3M	21.8M	25.1M	22.1M	36.1M	45.3M	16.8M	45.4M
Net income	40.1M	50.4M	61.6M	70.7M	78.3M	70.9M	105.4M	121M	41M	115.4M
Net margin	5.01%	5.89%	6.68%	7.46%	8.12%	6.42%	7.46%	7.6%	2.26%	4.19%
EBITDA	94.8M	104M	109.1M	120.6M	132.1M	148.4M	182M	222.5M	135.3M	365.6M
EPS	0.77	0.94	1.13	1.27	1.44	1.35	2.1	2.42	0.82	2.12
Diluted EPS	0.75	0.91	1.09	1.26	1.41	1.32	2.01	2.39	0.78	1.83

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	410.5M	327.5M	494.3M	420M	438.9M	460.3M	838M	683.5M	693.8M	542.7M	848.6M	682.2M
Cost of revenue	342.1M	340.8M	376.5M	366.4M	366M	522.2M	609.9M	595.6M	603.7M	593.4M	622.6M	609.8M
Gross profit	68.4M	-13.3M	117.8M	53.6M	72.9M	-61.9M	228.1M	87.9M	90.1M	-50.7M	226M	72.4M
Gross margin	16.7%	-4.06%	23.8%	12.8%	16.6%	-13.4%	27.2%	12.9%	13%	-9.35%	26.6%	10.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	13.1M	13.4M	18.7M	22.1M	23.2M	44.8M	28.1M	27.6M	31.3M	34.4M	29.6M	38.4M
Operating expenses	13.1M	13.4M	18.7M	22.1M	23.2M	44.8M	28.1M	27.6M	31.3M	34.4M	29.6M	38.4M
Operating income	55.3M	-26.7M	99.1M	31.6M	49.7M	-106.7M	200M	60.3M	58.9M	-85.2M	196.4M	34.1M
Operating margin	13.5%	-8.16%	20%	7.52%	11.3%	-23.2%	23.9%	8.82%	8.48%	-15.7%	23.2%	4.99%
Non-operating income, net	-2.2M	12.8M	9.4M	2.5M	6.3M	310K	-2M	25.4M	9.5M	1.1M	53.9M	13.9M
Pretax income	47.2M	-19.1M	104M	28.2M	51M	-125.4M	172.9M	57.8M	40.4M	-110.3M	226.5M	23.7M
Income tax	13.5M	-6.3M	27.1M	8.4M	15.9M	-34.6M	50.1M	15.8M	10.3M	-30.8M	64.9M	5.1M
Net income	33.7M	-12.7M	76.9M	19.8M	35.1M	-90.7M	122.8M	41.9M	30.1M	-79.4M	161.6M	18.6M
Net margin	8.2%	-3.89%	15.6%	4.71%	7.99%	-19.7%	14.7%	6.14%	4.34%	-14.6%	19%	2.73%
EBITDA	62.1M	-4.7M	118M	43.6M	60.6M	-86.9M	222.9M	110.7M	91.2M	-45.2M	216.2M	71.4M
EPS	0.67	-0.26	1.54	0.39	0.7	-1.81	1.91	0.66	0.56	-1.46	2.98	0.34
Diluted EPS	0.67	-0.26	1.53	0.39	0.7	-1.81	1.91	0.66	0.48	-1.46	2.63	0.31

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	716.8M	832.2M	1.1B	1.5B	1.4B	2.1B	2.4B	3.1B	4.1B	2.7B	3B
Enterprise value	906.1M	1B	1.2B	1.8B	1.7B	2.4B	2.8B	3.7B	5.9B	4.6B	4.9B
Shares outstanding	52.3M	53.9M	54.6M	55.9M	54.3M	52.6M	50.2M	50M	50.2M	54.4M	54.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	17.9	16.5	17.5	21.3	18.4	29	22.3	25.9	100.1	23.8	26.3
P/S	0.9	0.97	1.17	1.59	1.5	1.86	1.66	1.97	2.27	0.99	1.09
P/B	1.49	1.57	1.81	2.29	2.06	2.92	3.3	3.95	2.31	1.56	1.58
EV/EBITDA	9.55	9.72	11.1	14.7	13	16.1	15.5	16.5	43.8	12.5	12.7
EV/Sales	1.13	1.18	1.31	1.87	1.78	2.16	2	2.31	3.27	1.65	1.75
Earnings yield	5.59%	6.05%	5.73%	4.69%	5.42%	3.44%	4.48%	3.87%	1%	4.21%	3.8%
FCF yield	9.75%	7.83%	8.43%	5.59%	9.36%	5.93%	5%	4.17%	2.7%	6.4%	8%
PEG	—	—	—	—	—	—	—	—	—	—	-0.55

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	12.8%	11.7%	14.3%	13.2%	14.4%	14.4%	15.8%	14%	10.1%	12.9%	10.6%
Operating margin	8.23%	7.77%	10%	8.49%	9.59%	9.33%	11.9%	10.4%	4.06%	8.48%	4.98%
Net margin	5.01%	5.89%	6.68%	7.46%	8.12%	6.42%	7.46%	7.6%	2.26%	4.19%	4.41%
ROE	8.35%	9.49%	10.4%	10.7%	11.1%	10.1%	14.8%	15.3%	2.31%	6.55%	6.5%
ROA	3.58%	4.28%	5.2%	5.05%	5.17%	4.35%	5.61%	5.92%	0.92%	2.62%	3.94%
ROIC	5.96%	6.43%	9.82%	6.67%	7.16%	7.6%	10.6%	9.01%	1.45%	4.7%	3.95%
Return on tangible assets	-79.8%	-100.4%	-67.7%	77.3%	30.8K%	-132.2%	-433.9%	458.5%	-2.89%	-8.68%	-11.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.3	1.34	1.32	1.25	1.15	1.07	1.11	1.2	1.18	1.22	1.47
Quick ratio	1.3	1.34	1.32	1.25	1.15	1.07	1.11	1.2	1.18	1.22	1.47
Debt / equity	0.4	0.34	0.23	0.4	0.4	0.47	0.67	0.7	1.03	1.04	1.02
Debt / assets	0.17	0.15	0.11	0.19	0.18	0.2	0.25	0.27	0.41	0.41	0.42
Net debt / EBITDA	2	1.72	1.22	2.2	2.08	2.22	2.58	2.44	13.4	4.95	5.65
Interest coverage	11.2	12.1	13	17.1	21.8	25	18.6	9.26	2.68	2.5	2.76
Effective tax rate	39.4%	31.3%	22.9%	23.5%	24.3%	23.8%	25.5%	27.3%	29%	28.2%	27.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	15.3	15.9	16.9	17	17.8	21	28.1	31.8	36.1	50.7	45.2
EPS (basic)	0.77	0.94	1.13	1.27	1.44	1.35	2.1	2.42	0.82	2.12	2.12
EPS (diluted)	0.75	0.91	1.09	1.26	1.41	1.32	2.01	2.39	0.78	1.83	2.08
Book value per share	9.17	9.86	10.9	11.8	12.9	13.4	14.2	15.8	35.5	32.4	34.6
FCF per share	1.34	1.21	1.66	1.51	2.49	2.32	2.34	2.61	2.21	3.23	4.59
Cash per share	0.07	0.01	0.01	0.01	0.09	0.04	0.09	0.16	0.28	0.34	0.39
Capex per share	0.08	0.22	0.27	0.25	0.21	0.17	0.17	0.46	0.26	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.52%	1.39%	1.59%	1.46%	1.2%	0.81%	0.61%	1.45%	0.71%	—	—
Capex / operating cash flow	6.77%	16.1%	16.7%	13.1%	9.45%	7.9%	8.08%	14.8%	9.34%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%
Dividend yield	—	—	—	—	—	—	—	—	—	—	0.37%

Yield

0.37%

trailing twelve months

Frequency

Annual

Last dividend

$0.05

ex-dividend Dec 18, 2000

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Dec 18, 2000	$0.05
Dec 20, 1999	$0.05
Dec 17, 1998	$0.05

Split history

Date	Ratio
Jul 1, 1996	2:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$410.5M	$327.5M	$494.3M	$420M	$438.9M	$460.3M	$838M	$683.5M	$693.8M	$542.7M	$848.6M	$682.2M
YoY change	+13%	+11%	+8.73%	+5.4%	+6.9%	+40.5%	+69.5%	+62.7%	+58.1%	+17.9%	+1.26%	-0.19%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.5M	424K	640K	567K	4.7M	2M	4.7M	8.1M	13.8M	18.3M
Receivables	132.9M	139.7M	160M	176.4M	167.6M	190.7M	267.4M	309.6M	416.2M	469.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	441.6M	448.2M	423.5M	456M	436.4M	451.7M	568.4M	612.7M	835.7M	899.2M
Property, plant & equipment	-391K	-208K	5.7M	147M	152.2M	152.7M	181.9M	209.5M	399.9M	332.7M
Goodwill & intangibles	1.2B	1.2B	1.3B	1.3B	1.5B	1.7B	1.9B	2B	5.9B	5.7B
Total assets	1.1B	1.2B	1.2B	1.4B	1.5B	1.6B	1.9B	2B	4.5B	4.4B
Accounts payable	45.8M	51.4M	58.6M	68.5M	64.1M	65.8M	80.7M	82.8M	90.6M	90.9M
Short-term debt	1.1M	1.9M	—	29M	30.5M	30.6M	36.4M	36.3M	126.7M	131M
Total current liabilities	339.4M	334.2M	321.3M	365.9M	378.3M	423.3M	512.4M	511.9M	705.8M	735.6M
Long-term debt	191.8M	177.7M	134M	236.4M	249.2M	300.7M	438.1M	514.7M	1.7B	1.7B
Total liabilities	638.6M	645.4M	589.4M	741.5M	811.1M	923.4M	1.2B	1.3B	2.7B	2.6B
Shareholders' equity	480M	530.9M	593.7M	659.2M	702.6M	704.5M	713.5M	791.6M	1.8B	1.8B
Total debt	192.8M	179.5M	134M	265.4M	279.7M	331.2M	474.5M	551M	1.8B	1.8B
Net debt	189.3M	179.1M	133.3M	264.8M	275M	329.2M	469.8M	542.9M	1.8B	1.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.4M	8.1M	1.4M	1.1M	1.1M	13.8M	8.8M	39.8M	17M	18.3M	28.7M	20.9M
Receivables	301.3M	309.6M	333.9M	365.2M	324.6M	416.2M	488.6M	502.1M	471.8M	469.2M	511M	542.9M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	665.9M	612.7M	722.2M	693.9M	675.8M	835.7M	1B	966M	1B	899.2M	1.1B	1B
Property, plant & equipment	248.8M	209.5M	267.2M	260.6M	255.5M	399.9M	474.1M	456M	432.8M	332.7M	488.7M	484.9M
Goodwill & intangibles	1B	2B	1B	1B	1B	5.9B	2.9B	2.9B	2.9B	5.7B	5.7B	5.7B
Total assets	2.1B	2B	2.2B	2.2B	2.1B	4.5B	4.6B	4.5B	4.5B	4.4B	4.6B	4.6B
Accounts payable	80.6M	82.8M	93.5M	109.3M	87.2M	90.6M	102.6M	119.3M	99.7M	90.9M	86.7M	115.5M
Short-term debt	36.5M	36.3M	37.2M	38.1M	38.9M	126.7M	127.9M	128.5M	130.5M	131M	133.8M	143.1M
Total current liabilities	474.4M	511.9M	470.1M	467.8M	452.9M	705.8M	660.1M	602.3M	641.8M	735.6M	655.9M	683.8M
Long-term debt	574.8M	514.7M	637.5M	574.4M	525.9M	1.7B	1.8B	1.8B	1.8B	1.7B	1.9B	1.8B
Total liabilities	1.3B	1.3B	1.3B	1.3B	1.2B	2.7B	2.7B	2.6B	2.7B	2.6B	2.7B	2.7B
Shareholders' equity	810.6M	791.6M	867.1M	891.4M	927.9M	1.8B	1.9B	1.9B	1.9B	1.8B	1.9B	1.9B
Total debt	611.3M	551M	674.6M	612.4M	564.8M	1.8B	2B	2B	2B	1.8B	2B	1.9B
Net debt	609.9M	542.9M	673.2M	611.3M	563.8M	1.8B	1.9B	1.9B	1.9B	1.8B	2B	1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	40.1M	50.4M	61.6M	70.7M	78.3M	70.9M	105.4M	121M	41M	115.4M
Depreciation & amortization	22.1M	23.1M	23.7M	22.3M	23.1M	27.1M	32.9M	36.3M	48.1M	98.3M
Stock-based compensation	5.7M	5.7M	6.9M	7.3M	8.9M	11.4M	14.7M	12.3M	13.8M	26M
Change in working capital	-11.6M	-8.5M	-13.2M	-6.6M	13.1M	-7.1M	-60.5M	-25.8M	36.8M	-103M
Operating cash flow	61.2M	74M	87.7M	106.1M	122.4M	113.7M	106.9M	155.3M	138.2M	192.5M
Capital expenditure	-4.1M	-11.9M	-14.6M	-13.9M	-11.6M	-9M	-8.6M	-23.1M	-12.9M	—
Investing cash flow	-9.8M	-48.7M	-47.6M	-27.7M	-46.4M	-82M	-99.1M	-79.4M	-1.1B	1.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-9.1M	-19.7M	-17.5M	-27.2M	-58.5M	-100.5M	-129.8M	-73.8M	-11.5M	-167.9M
Financing cash flow	-26.5M	-53.6M	-115.7M	-65.2M	-83.1M	-76.3M	-27.4M	-85.9M	1B	-145.7M
Net change in cash	24.9M	-28.3M	-75.5M	13.2M	-7.1M	-44.6M	-19.6M	-9.9M	44.5M	47.9M
Free cash flow	69.9M	65.1M	90.6M	84.3M	135.3M	122.2M	117.5M	130.5M	110.8M	175.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	33.7M	-12.7M	76.9M	19.8M	35.1M	-90.7M	122.8M	41.9M	30.1M	-79.4M	161.6M	9.8M
Depreciation & amortization	9.1M	9.3M	9.5M	9.5M	9.6M	19.5M	24.8M	25.1M	24.5M	24M	23.8M	23.4M
Stock-based compensation	3.1M	2.6M	2.6M	2.4M	2.4M	6.4M	5.6M	7.9M	7.3M	6.4M	14.7M	975K
Change in working capital	-50.8M	97.6M	-118.3M	49.9M	-33.2M	138.5M	-208.7M	31M	-92.8M	167.5M	-209.4M	95.1M
Operating cash flow	-3.4M	100.7M	-26.7M	83M	21.4M	60.5M	-49.7M	113.1M	24M	143.6M	-25.5M	147.7M
Capital expenditure	-7.3M	-4M	-5.1M	-1.9M	-2.7M	-3.3M	-5.2M	—	—	—	—	—
Investing cash flow	-11M	-2.8M	-28.7M	-4.5M	8.3M	-1.1B	-5M	610K	-2.7M	3M	81K	-9.8M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-9.2M	-7.6M	-11.2M	0	-215K	-64K	-7.6M	-71.5M	-56.5M	-32.4M	-31.6M	-38.5M
Financing cash flow	-44.4M	-59.1M	71.2M	-83.1M	-73.3M	1.1B	55.4M	-87.6M	-43M	-70.5M	-12.6M	-145.7M
Net change in cash	-58.8M	38.9M	15.8M	-4.7M	-43.5M	77M	735K	26.1M	-21.7M	76.1M	-38M	-7.8M
Free cash flow	20.2M	92.2M	-68.8M	86.3M	41.1M	52.3M	-93.4M	105.2M	22.1M	141.7M	-28.5M	139M

CBIZ, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement