CBZ on NYSE
CBIZ, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
12.9%Gross margin3
8.5%Operating margin3
4.2%Net margin3
52.1%Revenue growth, 20253
6.6%Return on equity3
0.79×Debt to equity3
$175.5MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Accounting Tax Advisory And Consulting brought in 68% of the revenue CBIZ, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Accounting Tax Advisory And Consulting | $1.2B | $1.4B | $2.3B |
| Financial Service | $259.6M | $306.5M | $651.2M |
| Core Benefits And Insurance Services | $365.8M | $383.6M | $391.8M |
| Managed Networking And Hardware Services | $37.0M | $41.5M | $46.9M |
| Non Core Benefits And Insurance Services | $16.8M | $17.5M | $17.9M |
Business segments
Financial Services brought in 84% of the revenue CBIZ, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Financial Services | $1.2B | $1.4B | $2.3B |
| Benefits And Insurance Services | $382.6M | $401.0M | $409.6M |
| National Practices | $47.9M | $49.9M | $46.9M |
Regions
United States brought in 100% of the revenue CBIZ, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $1.6B | $1.8B | $2.8B |
| CA [member] | $1.7M | $2.4M | $1.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue87¢$2.4B
- Other costs7¢$194.6M
- Income tax2¢$45.4M
- Profit4¢$115.4M
Out of $2.8B in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending9¢$17.0M
- Share buybacks83¢$160.1M
- Kept or used elsewhere8¢$15.4M
Out of $192.5M of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $2.8B | $1.8B | $1.6B |
| Operating expenses | $2.4B | $1.6B | $1.4B |
| Gross margin | $355.4M | $182.5M | $223.2M |
| Corporate general and administrative expenses | $121.4M | $108.8M | $58.0M |
| Operating income | $234.0M | $73.7M | $165.2M |
| Interest expense | -$107.2M | -$34.4M | -$20.1M |
| Gain on sale of operations, net | $711.0K | $4.9M | $176.0K |
| Other income, net | $33.3M | $13.5M | $21.0M |
| Total other income (expense), net | -$73.2M | -$15.9M | $1.1M |
| Income before income tax expense | $160.8M | $57.8M | $166.3M |
| Provision for income taxes | $45.4M | $16.8M | $45.3M |
| Net income | $115.4M | $41.0M | $121.0M |
| Basic (in dollars per share) | $1.84 | $0.78 | $2.42 |
| Diluted (in dollars per share) | $1.83 | $0.78 | $2.39 |
| Basic weighted average common shares outstanding (in shares) | 62.9M shares | 52.4M shares | 50.0M shares |
| Diluted weighted average common shares outstanding (in shares) | 63.2M shares | 52.7M shares | 50.6M shares |
| Net unrealized gain on available-for-sale securities, net of income tax expense of $88, $182 and $403 | $222.0K | $457.0K | $1.0M |
| Net unrealized loss on interest rate swaps, net of income tax benefit of $1,568, $287 and $952 | -$4.7M | -$989.0K | -$2.8M |
| Foreign currency translation | -$18.0K | -$27.0K | -$18.0K |
| Total other comprehensive loss | -$4.5M | -$559.0K | -$1.8M |
| Total comprehensive income | $110.9M | $40.5M | $119.1M |
| Net unrealized gain (loss) on available-for-sale securities, net of income tax expense | $88.0K | $182.0K | $403.0K |
| Net unrealized gain (loss) on interest rate swaps, net of income tax benefit | -$1.6M | -$287.0K | -$952.0K |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $18.3M | $13.8M | $8.1M |
| Restricted cash | $38.2M | $38.7M | |
| Accounts receivable, net | $556.0M | $534.9M | |
| Other current assets | $79.7M | $72.5M | |
| Current assets before funds held for clients | $692.2M | $659.9M | |
| Funds held for clients | $207.0M | $175.9M | |
| Total current assets | $899.2M | $835.7M | |
| Property and equipment, net | $81.2M | $88.2M | |
| Goodwill and other intangible assets, net | $2.9B | $2.9B | |
| Assets of deferred compensation plan | $186.9M | $167.2M | |
| Right-of-use asset | $334.0M | $393.5M | |
| Other non-current assets | $38.3M | $40.8M | |
| Total non-current assets | $3.5B | $3.6B | |
| Total assets | $4.4B | $4.5B | |
| Accounts payable | $90.9M | $90.6M | |
| Income taxes payable | $11.0M | $0 | |
| Accrued personnel costs | $197.5M | $172.8M | |
| Contingent purchase price liability | $30.0M | $61.2M | |
| Lease liability | $64.7M | $60.5M | |
| Total short-term debt | $66.4M | $66.2M | |
| Other current liabilities | $68.3M | $78.6M | |
| Current liabilities before client fund obligations | $528.9M | $529.9M | |
| Client fund obligations | $206.7M | $175.9M | |
| Total current liabilities | $735.6M | $705.8M | |
| Total long-term debt | $1.4B | $1.3B | |
| Income taxes payable | $3.0M | $2.2M | |
| Deferred income taxes, net | $7.1M | $10.9M | |
| Deferred compensation plan obligations | $186.9M | $167.2M | |
| Contingent purchase price liability | $10.2M | $35.8M | |
| Lease liability | $307.9M | $372.6M | |
| Other non-current liabilities | $7.2M | $62.7M | |
| Total non-current liabilities | $1.9B | $2.0B | |
| Total liabilities | $2.6B | $2.7B | |
| Common stock, par value $0.01 per share; shares authorized 250,000; shares issued 144,654 and 137,945; shares outstanding 54,380 and 50,198 | $1.4M | $1.4M | |
| Additional paid-in capital | $1.8B | $1.8B | |
| Retained earnings | $1.0B | $896.1M | |
| Treasury stock, 90,274 and 87,747 shares | -$1.1B | -$910.6M | |
| Accumulated other comprehensive (loss) income | -$3.3M | $1.2M | |
| Total stockholders equity | $1.8B | $1.8B | $791.6M |
| Total liabilities and stockholders equity | $4.4B | $4.5B | |
| Common stock, par or stated value (in dollars per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 250.0M shares | 250.0M shares | |
| Common stock, shares, issued (in shares) | 144.7M shares | 137.9M shares | |
| Common stock, shares, outstanding (in shares) | 54.4M shares | 50.2M shares | |
| Treasury stock, shares (in shares) | 90.3M shares | 87.7M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $115.4M | $41.0M | $121.0M |
| Gain on sale of operations, net of tax | -$711.0K | -$4.9M | -$176.0K |
| Depreciation and amortization expense | $98.3M | $48.1M | $36.3M |
| Bad debt expense, net of recoveries | $7.3M | $3.8M | $1.6M |
| Adjustment to contingent earnout liability, net | $2.6M | $7.0M | $2.7M |
| Deferred income taxes | $4.6M | -$8.6M | $11.3M |
| Stock-based compensation expense | $26.0M | $13.8M | $12.3M |
| Amortization of deferred financing fees | $5.5M | $1.3M | $472.0K |
| Other, net | $5.1M | -$1.1M | -$2.8M |
| Accounts receivable, net | -$27.1M | $48.2M | -$36.1M |
| Other assets | -$22.9M | $2.8M | -$6.6M |
| Accounts payable | $443.0K | -$18.8M | $2.2M |
| Income taxes payable | $17.1M | -$7.5M | -$5.9M |
| Accrued personnel costs | $14.2M | -$5.8M | $2.7M |
| Other liabilities | -$53.4M | $4.6M | $14.7M |
| Net cash provided by operating activities | $192.5M | $123.7M | $153.5M |
| Business acquisitions and purchases of client lists, net of cash acquired | -$1.6M | -$1.1B | -$53.1M |
| Purchases of client fund investments | -$43.4M | -$23.2M | -$14.1M |
| Proceeds from the sales and maturities of client fund investments | $39.7M | $21.9M | $18.5M |
| Proceeds from sales of assets and divested operations | $1.5M | $7.1M | $3.1M |
| Change in funds held for clients | -$305.0K | $0 | $0 |
| Additions to property and equipment | -$17.0M | -$12.9M | -$23.1M |
| Other, net | $5.2M | -$34.7M | -$10.6M |
| Net cash used in investing activities | -$15.9M | -$1.1B | -$79.4M |
| Proceeds from bank debt | $1.5B | $2.5B | $1.2B |
| Payments of bank debt | -$1.4B | -$1.4B | -$1.2B |
| Deferred financing costs | -$983.0K | -$20.7M | $0 |
| Payment for acquisition of treasury stock | -$160.1M | $0 | -$65.4M |
| Indirect repurchase of shares for minimum tax withholding | -$7.8M | -$11.5M | -$8.4M |
| Changes in client funds obligations | $30.8M | $16.0M | -$13.6M |
| Payment of contingent consideration of acquisitions and client lists | -$58.7M | -$56.8M | -$45.2M |
| Proceeds from exercise of stock options | $0 | $0 | $8.8M |
| Other, net | -$437.0K | $0 | $0 |
| Net cash provided by (used in) financing activities | -$145.7M | $1.0B | -$77.1M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $30.9M | $30.0M | -$3.0M |
| Cash paid for interest | $105.4M | $25.7M | $19.1M |
| Cash paid for income taxes, net of income tax refunds | $23.6M | $37.5M | $40.0M |
Former names
Recent filings
- Sep 24, 2026424B3
- Sep 21, 2026DEFM14A
- Sep 21, 20264 PRIMARY DOCUMENT
- Aug 27, 2026PREM14A
- Aug 7, 2026SCHEDULE 13G/A
- Aug 6, 2026S-3ASR
- Aug 5, 20264 PRIMARY DOCUMENT
- Aug 4, 202610-K/A 10-K
- Aug 4, 202610-Q
- Aug 4, 2026DEFA14A
- Jul 31, 2026DEFA14A
- Jul 30, 2026DEFA14A
- Jul 29, 20268-K
- Jul 29, 20268-K
- Jul 29, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARCBIZ, Inc. filings on SEC EDGAR
- 2SEC EDGARCBIZ, Inc. filings on SEC EDGAR
- 3SEC EDGARCBIZ, Inc. 10-K for fiscal 2025
- 4
- 5SEC EDGARCBIZ, Inc. 10-K for fiscal 2019
- 6SEC EDGARCBIZ, Inc. 10-K for fiscal 2020
- 7SEC EDGARCBIZ, Inc. 10-K for fiscal 2021
- 8SEC EDGARCBIZ, Inc. 10-K for fiscal 2022
- 9SEC EDGARCBIZ, Inc. 10-Q for fiscal 2025
- 10SEC EDGARCBIZ, Inc. 10-Q for fiscal 2026
- 11SEC EDGARCBIZ, Inc. 10-K for fiscal 2019