CBZ

MKT CAP:$2B

CBIZ, Inc.

Market Cap

$2B

Industrials·Specialty Business Services·🇺🇸 United States·NYSE

Industrials·Specialty·🇺🇸·NYSE

Stock Price

$30.55-$20.25 (-39.86%)

Apr 22, 2026

Company Details

CBIZ, Inc. provides financial, insurance, and advisory services in the United States and Canada. The company operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Service...

CEO

Jerome Grisko Jr.

IPO Date

Apr 27, 1995

Website

www.cbiz.com

Key Metrics TTM

Revenue

$2.8B

+52.1% YoY

Net Income

$115M

EPS (Diluted)

$1.81

Free Cash Flow

$174M

Revenue / Share

$43.61

Gross Margin

12.9%

Operating Margin

8.5%

Net Margin

4.2%

FCF Margin

6.3%

P/S

0.6x

P/E

14.6x

Earnings Reports

FY 2025

Feb 26, 2026

$2.8B+52.1%EPS $1.83

Q4 2025

Feb 26, 2026

$543M+17.9%EPS -$1.24

Q3 2025

Oct 30, 2025

$694M+58.1%EPS $0.48

Q2 2025

Jul 31, 2025

$683M+62.7%EPS $0.66

Q1 2025

Apr 25, 2025

$838M+69.5%EPS $1.91

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$392M	$101M	$85M
Q2 22	$362M	$72M	$61M
Q3 22	$363M	$57M	$41M
Q4 22	$295M	-$8M	-$19M
Q1 23	$455M	$114M	$98M
Q2 23	$399M	$55M	$39M
Q3 23	$411M	$68M	$55M
Q4 23	$328M	-$13M	-$27M
Q1 24	$494M	$118M	$99M
Q2 24	$420M	$54M	$32M
Q3 24	$439M	$73M	$50M
Q4 24	$460M	-$62M	-$107M
Q1 25	$838M	$228M	$200M
Q2 25	$683M	$88M	$60M
Q3 25	$694M	$90M	$59M
Q4 25	$543M	-$51M	-$85M

Valuation

Quarter	P/S	P/E
Q1 22	1.4x	21.4x
Q2 22	1.3x	16.6x
Q3 22	1.2x	15.7x
Q4 22	1.2x	16.0x
Q1 23	1.1x	14.0x
Q2 23	1.1x	14.6x
Q3 23	1.1x	13.8x
Q4 23	1.1x	14.0x
Q1 24	1.0x	13.5x
Q2 24	1.0x	14.4x
Q3 24	1.0x	14.2x
Q4 24	0.9x	41.1x
Q1 25	0.8x	19.4x
Q2 25	0.7x	15.5x
Q3 25	0.6x	16.2x
Q4 25	0.6x	14.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$51M	-$52M
Q2 22	$79M	$77M
Q3 22	$32M	$29M
Q4 22	$66M	$63M
Q1 23	-$45M	-$48M
Q2 23	$74M	$66M
Q3 23	$28M	$20M
Q4 23	$96M	$92M
Q1 24	-$64M	-$69M
Q2 24	$88M	$86M
Q3 24	$44M	$41M
Q4 24	$56M	$52M
Q1 25	-$88M	-$93M
Q2 25	$113M	$105M
Q3 25	$24M	$37M
Q4 25	$144M	$125M

Capital Expenditures

Quarter	CapEx
Q1 22	$833.0K
Q2 22	$3M
Q3 22	$2M
Q4 22	$3M
Q1 23	$4M
Q2 23	$8M
Q3 23	$7M
Q4 23	$4M
Q1 24	$5M
Q2 24	$2M
Q3 24	$3M
Q4 24	$3M
Q1 25	$5M
Q2 25	$8M
Q3 25	$13M
Q4 25	$18M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+30.3%	+28.6%
Q2 22	+29.9%	+6.9%
Q3 22	+28.5%	+28.1%
Q4 22	+21.5%	+20.4%
Q1 23	+16.1%	+16.3%
Q2 23	+10.1%	+19.7%
Q3 23	+13.0%	+10.4%
Q4 23	+11.0%	+12.7%
Q1 24	+8.7%	+10.8%
Q2 24	+5.4%	+8.0%
Q3 24	+6.9%	+9.5%
Q4 24	+40.5%	+60.0%
Q1 25	+69.5%	+61.4%
Q2 25	+62.7%	+60.5%
Q3 25	+58.1%	+63.1%
Q4 25	+17.9%	+10.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	0.9%
Q2 22	$3M	0.8%
Q3 22	$6M	1.5%
Q4 22	$3M	0.9%
Q1 23	$4M	0.8%
Q2 23	$3M	0.7%
Q3 23	$3M	0.8%
Q4 23	$3M	0.8%
Q1 24	$3M	0.5%
Q2 24	$2M	0.6%
Q3 24	$2M	0.6%
Q4 24	$6M	1.4%
Q1 25	$6M	0.7%
Q2 25	$7M	1.0%
Q3 25	$7M	1.1%
Q4 25	$6M	1.2%

OpEx Breakdown

Quarter	G&A
Q1 22	$16M
Q2 22	$11M
Q3 22	$16M
Q4 22	$12M
Q1 23	$16M
Q2 23	$16M
Q3 23	$13M
Q4 23	$13M
Q1 24	$19M
Q2 24	$22M
Q3 24	$23M
Q4 24	$45M
Q1 25	$28M
Q2 25	$28M
Q3 25	$31M
Q4 25	$34M

Revenue Segments

Quarter	Benefits And Insurance Services	Financial Services	National Practices
Q1 22	$92M	$289M	$10M
Q2 22	$92M	$259M	$11M
Q3 22	$92M	$260M	$11M
Q4 22	$82M	$202M	$11M
Q1 23	$100M	$343M	$11M
Q2 23	$96M	$291M	$12M
Q1 25	$113M	$714M	$11M
Q2 25	$102M	$570M	$12M
Q3 25	$103M	$579M	$12M
Q4 25	$91M	$439M	$12M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$558.0K	$0	$558.0K
Q2 22	$46M	$0	$46M
Q3 22	$42M	$0	$42M
Q4 22	$33M	$0	$33M
Q1 23	$27M	$0	$27M
Q2 23	$56M	$0	$56M
Q3 23	$40M	$0	$40M
Q4 23	$38M	$0	$38M
Q1 24	$29M	$0	$29M
Q2 24	$46M	$0	$46M
Q3 24	$1M	$0	$1M
Q4 24	$14M	$0	$14M
Q1 25	$9M	$0	$9M
Q2 25	$40M	$0	$40M
Q3 25	$17M	$0	$17M
Q4 25	$57M	$0	$57M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	53M	+1.8%	-2.7%
Q2 22	53M	-0.8%	-2.3%
Q3 22	52M	-0.6%	-1.9%
Q4 22	51M	-3.3%	-2.9%
Q1 23	51M	+0.4%	-4.1%
Q2 23	50M	-0.7%	-4.1%
Q3 23	50M	-0.0%	-3.6%
Q4 23	50M	-1.1%	-1.5%
Q1 24	50M	+0.9%	-1.1%
Q2 24	50M	+0.1%	-0.2%
Q3 24	50M	+0.2%	+0.1%
Q4 24	59M	+17.4%	+18.8%
Q1 25	64M	+8.4%	+27.7%
Q2 25	64M	-0.6%	+26.9%
Q3 25	64M	-0.3%	+26.2%
Q4 25	63M	-0.6%	+6.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$65.3K	6K
Q2 22	$60.3K	6K
Q3 22	$60.5K	6K
Q4 22	$45.4K	7K
Q1 23	$69.9K	7K
Q2 23	$61.3K	7K
Q3 23	$63.2K	7K
Q4 23	$48.9K	7K
Q1 24	$73.8K	7K
Q2 24	$62.7K	7K
Q3 24	$65.5K	7K
Q4 24	$46.0K	10K
Q1 25	$83.8K	10K
Q2 25	$68.3K	10K
Q3 25	$69.4K	10K
Q4 25	$57.1K	10K

Revenue / Employee