CBIZ (CBZ) Financials

$29.52 -1.78 (-5.68%)

As of 12:03 PM Eastern

Annual Income Statements for CBIZ

This table shows CBIZ's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	34	40	50	62	71	78	71	105	119	41	115
Consolidated Net Income / (Loss)	34	40	50	62	71	78	71	105	121	41	115
Net Income / (Loss) Continuing Operations	35	41	51	62	71	78	71	105	121	41	115
Total Pre-Tax Income	58	67	74	80	93	103	93	141	166	58	161
Total Operating Income	66	66	66	93	81	92	73	168	165	74	234
Total Gross Profit	98	102	100	132	125	139	159	223	223	182	355
Total Revenue	750	800	855	922	948	964	1,105	1,412	1,591	1,813	2,758
Operating Revenue	750	800	855	922	948	964	1,105	1,412	1,591	1,813	2,758
Total Cost of Revenue	652	698	756	790	823	825	946	1,189	1,368	1,631	2,403
Operating Cost of Revenue	652	698	756	790	823	825	946	1,189	1,368	1,631	2,403
Total Operating Expenses	33	36	33	39	44	46	87	55	58	109	121
Selling, General & Admin Expense	33	36	33	39	44	46	56	55	58	109	121
Total Other Income / (Expense), net	-7.67	1.22	7.86	-13	12	11	20	-27	2.13	-16	-73
Interest Expense	8.90	6.59	6.68	6.65	5.77	4.98	3.87	8.04	20	34	107
Other Income / (Expense), net	1.23	7.81	15	-6.06	18	16	24	-19	22	18	34
Income Tax Expense	23	26	23	18	22	25	22	36	45	17	45
Basic Earnings per Share	$0.69	$0.77	$0.94	$1.13	$1.30	$1.44	$1.35	$2.05	$2.42	$0.78	$1.84
Weighted Average Basic Shares Outstanding	50.28M	52.32M	53.86M	54.56M	54.30M	54.29M	52.64M	51.50M	49.99M	52.38M	62.91M
Diluted Earnings per Share	$0.65	$0.75	$0.91	$1.09	$1.26	$1.41	$1.32	$2.01	$2.39	$0.78	$1.83
Weighted Average Diluted Shares Outstanding	52.69M	53.51M	55.69M	56.49M	55.90M	55.36M	53.72M	52.39M	50.56M	52.66M	63.24M
Weighted Average Basic & Diluted Shares Outstanding	49.40M	52M	53.60M	54.50M	55.31M	53.49M	52.18M	50.38M	50.02M	53.76M	50.07M

This table shows CBIZ's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	34	-16	77	20	35	-91	123	42	30	-79	162
Consolidated Net Income / (Loss)	34	-13	77	20	35	-91	123	42	30	-79	162
Net Income / (Loss) Continuing Operations	34	-13	77	20	35	-91	123	42	30	-79	162
Total Pre-Tax Income	47	-19	104	28	51	-125	173	58	40	-110	226
Total Operating Income	55	-27	99	32	50	-107	200	60	59	-85	196
Total Gross Profit	68	-13	118	54	73	-62	228	88	90	-51	226
Total Revenue	411	328	494	420	439	460	838	683	694	543	849
Operating Revenue	411	328	494	420	439	460	838	683	694	543	849
Total Cost of Revenue	342	341	376	366	366	522	610	596	604	593	623
Operating Cost of Revenue	342	341	376	366	366	522	610	596	604	593	623
Total Operating Expenses	13	13	19	22	23	45	28	28	31	34	30
Selling, General & Admin Expense	13	13	19	22	23	45	28	28	31	34	30
Total Other Income / (Expense), net	-8.06	8.84	4.91	-3.40	1.29	-19	-27	-2.49	-18	-25	30
Interest Expense	5.85	5.11	4.51	5.88	4.97	19	25	28	28	26	24
Other Income / (Expense), net	-2.21	14	9.42	2.48	6.25	0.31	-1.97	25	9.50	1.13	54
Income Tax Expense	14	-6.33	27	8.40	16	-35	50	16	10	-31	65
Basic Earnings per Share	$0.68	($0.25)	$1.54	$0.39	$0.70	($1.85)	$1.92	$0.66	$0.48	($1.22)	$2.63
Weighted Average Basic Shares Outstanding	49.84M	49.99M	50.05M	50.11M	50.15M	52.38M	63.84M	63.54M	62.36M	62.91M	61.42M
Diluted Earnings per Share	$0.67	($0.25)	$1.53	$0.39	$0.70	($1.84)	$1.91	$0.66	$0.48	($1.22)	$2.63
Weighted Average Diluted Shares Outstanding	50.37M	50.56M	50.22M	50.28M	50.40M	52.66M	64.14M	63.78M	62.70M	63.24M	61.54M
Weighted Average Basic & Diluted Shares Outstanding	49.84M	50.02M	50.11M	50.16M	50.19M	53.76M	54.40M	53.98M	54.40M	50.07M	53.65B

This table details how cash moves in and out of CBIZ's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.13	46	-17	-52	16	24	-20	9.67	-3.00	30	31
Net Cash From Operating Activities	47	74	77	105	98	147	131	126	154	124	192
Net Cash From Continuing Operating Activities	46	74	78	105	99	147	131	126	154	124	192
Net Income / (Loss) Continuing Operations	35	40	50	62	71	78	71	105	121	41	115
Consolidated Net Income / (Loss)	34	40	50	62	71	78	71	105	121	41	115
Depreciation Expense	20	22	23	24	22	23	27	33	36	48	98
Amortization Expense	2.42	-	-	-	-	-	-	-	0.47	1.26	5.47
Non-Cash Adjustments To Reconcile Net Income	11	7.85	6.96	6.25	9.25	14	8.47	15	14	13	33
Changes in Operating Assets and Liabilities, net	-23	3.66	-2.74	14	-3.79	32	25	-28	-18	21	-59
Net Cash From Investing Activities	-6.95	-9.85	-49	-48	-28	-46	-82	-99	-79	-1,129	-16
Net Cash From Continuing Investing Activities	-6.96	-9.85	-49	-48	-28	-46	-82	-99	-79	-1,129	-16
Purchase of Property, Plant & Equipment	-7.39	-4.14	-12	-15	-14	-12	-8.98	-8.64	-23	-13	-17
Acquisitions	-15	-5.65	-28	-29	-12	-71	-67	-79	-53	-1,088	-1.63
Purchase of Investments	-15	-11	-16	-18	-27	-3.45	-27	-20	-14	-23	-43
Divestitures	-	-	-	-	0.00	0.71	9.71	3.02	3.06	7.13	1.53
Sale and/or Maturity of Investments	11	9.78	8.79	12	24	37	15	12	18	22	40
Other Investing Activities, net	20	1.52	-1.94	2.32	1.19	1.85	-3.90	-6.99	-11	-35	4.89
Net Cash From Financing Activities	-41	-18	-46	-109	-55	-77	-69	-17	-77	1,036	-146
Net Cash From Continuing Financing Activities	-41	-18	-46	-109	-55	-77	-69	-17	-77	1,036	-146
Repayment of Debt	-400	-432	-547	-735	-679	-590	-805	-717	-1,177	-1,400	-1,430
Repurchase of Common Equity	-36	-9.14	-20	-17	-27	-56	-97	-123	-65	0.00	-160
Issuance of Debt	409	417	534	690	649	592	852	825	1,224	2,488	1,480
Other Financing Activities, net	-13	5.82	-13	-47	3.22	-22	-19	-3.13	-58	-52	-36
Cash Interest Paid	-	-	6.12	6.34	5.56	4.74	3.35	7.42	19	26	105
Cash Income Taxes Paid	-	-	25	15	17	26	17	28	40	38	24

This table details how cash moves in and out of CBIZ's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-24	35	-21	0.51	-21	72	-38	17	-23	74	-41
Net Cash From Operating Activities	28	96	-64	88	44	56	-88	113	24	144	-26
Net Cash From Continuing Operating Activities	28	96	-64	88	44	56	-88	113	24	144	-26
Net Income / (Loss) Continuing Operations	34	-13	77	20	35	-91	123	42	30	-79	162
Consolidated Net Income / (Loss)	34	-13	77	20	35	-91	123	42	30	-79	162
Depreciation Expense	9.13	9.30	9.47	9.54	9.59	19	25	25	24	24	24
Amortization Expense	-	-	-	-	-	-	1.30	-	-	-	1.35
Non-Cash Adjustments To Reconcile Net Income	3.23	3.11	3.19	3.07	-1.68	8.12	6.06	8.05	7.56	11	8.94
Changes in Operating Assets and Liabilities, net	-19	97	-153	56	0.74	119	-243	38	-38	183	-221
Net Cash From Investing Activities	-11	-2.76	-29	-4.55	8.34	-1,104	-4.96	-7.34	-4.61	1.06	-2.92
Net Cash From Continuing Investing Activities	-11	-2.76	-29	-4.55	8.34	-1,104	-4.96	-7.34	-4.61	1.06	-2.92
Purchase of Property, Plant & Equipment	-7.31	-4.02	-5.12	-1.85	-2.68	-3.26	-5.18	-7.95	-1.91	-1.92	-3.00
Acquisitions	-4.48	-	-21	-1.16	-0.44	-1,065	0.00	-	-	-1.63	-3.50
Purchase of Investments	-2.47	-12	-4.44	-7.66	-4.00	-7.11	-8.30	-11	-16	-7.78	-4.10
Divestitures	1.45	1.36	0.00	-	9.88	-2.75	0.29	-	1.12	0.12	0.33
Sale and/or Maturity of Investments	3.63	12	5.45	6.97	2.74	6.77	8.41	13	10	8.05	3.64
Other Investing Activities, net	-1.83	-0.11	-3.25	-0.85	2.83	-33	-0.18	-1.58	2.42	4.22	3.70
Net Cash From Financing Activities	-40	-59	71	-83	-73	1,121	55	-89	-42	-70	-13
Net Cash From Continuing Financing Activities	-40	-59	71	-83	-73	1,121	55	-89	-42	-70	-13
Repayment of Debt	-329	-331	-256	-295	-243	-606	-358	-340	-331	-401	-172
Repurchase of Common Equity	-8.97	-7.64	-	-	-	-	0.00	-	-56	-32	-29
Issuance of Debt	314	249	381	239	199	1,669	486	364	344	287	251
Other Financing Activities, net	-15	31	-54	-26	-29	58	-72	-42	1.79	76	-63

This table presents CBIZ's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	996	1,119	1,176	1,183	1,401	1,514	1,628	1,879	2,044	4,471	4,410
Total Current Assets	372	442	448	424	456	436	452	568	613	836	899
Cash & Equivalents	0.85	3.49	0.42	0.64	0.57	4.65	2.00	4.70	8.09	14	18
Restricted Cash	196	241	236	189	209	191	188	200	190	215	245
Accounts Receivable	154	175	188	207	222	216	242	334	380	535	556
Other Current Assets	16	21	23	27	24	24	19	29	35	73	80
Plant, Property, & Equipment, net	20	19	26	34	39	41	43	45	57	88	81
Total Noncurrent Assets	604	658	702	725	905	1,037	1,133	1,255	1,374	3,547	3,429
Goodwill	536	584	613	637	655	757	841	952	1,009	2,945	2,870
Employee Benefit Assets	64	70	86	84	107	127	136	119	143	167	187
Other Noncurrent Operating Assets	2.03	2.01	3.18	3.84	144	152	156	184	222	434	372
Total Liabilities & Shareholders' Equity	996	1,119	1,176	1,183	1,401	1,514	1,628	1,879	2,044	4,471	4,410
Total Liabilities	568	639	645	589	742	811	923	1,166	1,252	2,691	2,647
Total Current Liabilities	271	339	334	321	366	378	423	512	512	706	736
Short-Term Debt	13	17	15	23	16	20	34	63	66	127	96
Accounts Payable	36	46	51	59	69	64	66	81	83	91	91
Current Deferred & Payable Income Tax Liabilities	-	1.05	-	0.46	0.06	2.79	1.67	1.61	2.10	0.00	11
Current Employee Benefit Liabilities	40	45	45	64	60	80	114	130	134	173	198
Other Current Liabilities	183	230	222	176	221	211	207	236	227	315	340
Total Noncurrent Liabilities	297	299	311	268	376	433	500	653	740	1,985	1,912
Long-Term Debt	207	193	179	136	106	108	155	266	312	1,334	1,390
Noncurrent Deferred Revenue	4.08	4.43	4.45	3.40	3.05	1.78	1.73	2.21	1.98	2.19	3.01
Noncurrent Deferred & Payable Income Tax Liabilities	4.90	3.55	3.34	6.76	12	8.75	15	25	29	11	7.14
Noncurrent Employee Benefit Liabilities	64	70	86	84	107	127	136	119	143	167	187
Other Noncurrent Operating Liabilities	18	28	39	38	148	188	192	244	253	471	325
Total Equity & Noncontrolling Interests	428	480	531	594	659	703	705	713	792	1,780	1,762
Total Preferred & Common Equity	428	480	531	594	659	703	705	713	792	1,780	1,762
Total Common Equity	428	480	531	594	659	703	705	713	792	1,780	1,762
Common Stock	636	657	677	694	716	742	771	801	834	1,793	1,832
Retained Earnings	255	295	345	409	480	558	629	734	855	896	1,012
Accumulated Other Comprehensive Income / (Loss)	-0.63	-0.50	-0.18	-0.48	-0.68	-2.27	-0.97	3.60	1.78	1.22	-3.29
Other Equity Adjustments	-	-	-	-	-	-	-	-	-	-	-1,079

This table presents CBIZ's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,900	2,038	2,089	2,074	2,197	2,161	2,133	4,585	4,538	4,545	4,630
Total Current Assets	583	650	686	666	722	694	676	1,003	966	1,005	1,069
Cash & Equivalents	2.04	2.27	3.69	1.42	1.40	1.13	1.08	8.85	40	17	29
Restricted Cash	165	173	184	161	175	176	155	182	168	172	193
Accounts Receivable	399	443	456	466	504	478	477	735	676	720	769
Other Current Assets	17	31	42	38	42	39	43	77	82	97	78
Plant, Property, & Equipment, net	45	47	51	55	58	57	56	92	89	84	80
Total Noncurrent Assets	1,273	1,341	1,352	1,353	1,417	1,410	1,402	3,491	3,483	3,456	3,481
Goodwill	957	1,006	1,015	1,015	1,038	1,035	1,030	2,907	2,900	2,886	2,856
Employee Benefit Assets	111	129	136	130	158	162	165	162	177	181	182
Other Noncurrent Operating Assets	203	207	201	208	221	213	206	422	406	389	443
Total Liabilities & Shareholders' Equity	1,900	2,038	2,089	2,074	2,197	2,161	2,133	4,585	4,538	4,545	4,630
Total Liabilities	1,125	1,266	1,313	1,264	1,330	1,269	1,205	2,671	2,646	2,673	2,736
Total Current Liabilities	459	461	501	474	470	468	453	660	602	642	656
Short-Term Debt	61	65	71	70	65	55	55	113	104	97	107
Accounts Payable	74	83	126	81	94	109	87	103	119	100	87
Current Deferred & Payable Income Tax Liabilities	14	25	13	16	27	7.37	12	42	24	42	61
Current Employee Benefit Liabilities	125	69	90	118	71	95	117	88	107	149	120
Other Current Liabilities	184	219	200	189	214	201	182	314	249	254	282
Total Noncurrent Liabilities	667	805	812	789	860	802	753	2,011	2,044	2,032	2,080
Long-Term Debt	271	404	411	395	438	381	337	1,463	1,488	1,503	1,461
Noncurrent Deferred Revenue	2.07	2.33	2.38	2.03	2.09	2.15	2.22	2.54	2.60	2.96	3.18
Noncurrent Deferred & Payable Income Tax Liabilities	23	27	29	32	32	33	34	1.02	13	5.19	30
Noncurrent Employee Benefit Liabilities	111	129	136	130	158	162	165	162	177	181	182
Other Noncurrent Operating Liabilities	262	243	235	231	231	225	214	383	363	340	404
Total Equity & Noncontrolling Interests	774	772	776	811	867	891	928	1,915	1,892	1,872	1,894
Total Preferred & Common Equity	774	772	776	811	867	891	928	1,915	1,892	1,872	1,894
Total Common Equity	774	772	776	811	867	891	928	1,915	1,892	1,872	1,894
Common Stock	795	816	820	830	843	847	851	1,814	1,823	1,830	1,833
Retained Earnings	746	807	834	868	932	952	987	1,019	1,061	1,091	1,173
Accumulated Other Comprehensive Income / (Loss)	3.62	2.39	3.93	4.42	2.80	2.65	0.16	-0.02	-2.13	-3.37	-1.56
Other Equity Adjustments	-	-	-	-	-	-	-	-918	-	-1,046	-1,110

This table displays calculated financial ratios and metrics derived from CBIZ's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.30%	6.58%	6.94%	7.79%	2.87%	1.63%	14.63%	27.79%	12.69%	13.97%	52.08%
EBITDA Growth	1.96%	6.88%	8.73%	5.87%	9.84%	8.77%	-5.81%	47.15%	22.67%	-37.33%	162.74%
EBIT Growth	4.78%	10.29%	10.05%	6.78%	14.07%	9.95%	-10.68%	54.32%	25.41%	-50.83%	190.77%
NOPAT Growth	18.78%	0.56%	14.47%	56.40%	-13.71%	13.68%	-20.90%	126.36%	-4.12%	-56.46%	220.97%
Net Income Growth	14.61%	17.47%	25.74%	22.22%	14.85%	10.73%	-9.47%	48.62%	14.82%	-66.08%	181.31%
EPS Growth	12.07%	15.38%	21.33%	19.78%	15.60%	11.90%	-6.38%	52.27%	18.91%	-67.36%	134.62%
Operating Cash Flow Growth	7.90%	56.29%	4.02%	36.62%	-6.71%	49.56%	-10.69%	-3.83%	21.70%	-19.42%	55.62%
Free Cash Flow Firm Growth	-77.90%	939.66%	-92.51%	-187.64%	1,908.47%	-86.27%	-294.41%	127.64%	-808.65%	-7,125.79%	109.87%
Invested Capital Growth	11.09%	-0.99%	9.49%	15.22%	1.60%	10.99%	10.95%	17.27%	17.90%	209.74%	-0.94%
Revenue Q/Q Growth	0.99%	1.83%	1.95%	0.42%	0.44%	0.83%	2.96%	3.84%	2.09%	7.90%	3.08%
EBITDA Q/Q Growth	-2.20%	1.64%	3.13%	-3.28%	-2.03%	1.48%	-7.50%	0.00%	0.88%	-37.29%	9.51%
EBIT Q/Q Growth	-1.82%	2.51%	3.85%	-4.41%	-2.09%	1.68%	-10.48%	-0.68%	0.45%	-50.37%	9.09%
NOPAT Q/Q Growth	1.72%	0.94%	6.68%	8.07%	-15.40%	-6.55%	-6.92%	-0.37%	-3.72%	-53.04%	10.61%
Net Income Q/Q Growth	-1.67%	3.14%	12.34%	-8.64%	-0.25%	1.37%	-11.85%	-1.75%	-1.01%	-65.52%	10.86%
EPS Q/Q Growth	-2.99%	2.74%	13.75%	-9.17%	-0.79%	2.17%	-11.41%	-2.43%	-1.24%	-67.09%	51.24%
Operating Cash Flow Q/Q Growth	1.09%	31.07%	0.03%	2.72%	7.44%	12.47%	-10.17%	14.39%	24.47%	-24.77%	84.43%
Free Cash Flow Firm Q/Q Growth	-160.34%	206.18%	1,174.77%	-112.67%	57.62%	-87.30%	-171.22%	104.65%	46.10%	-3,350.73%	109.98%
Invested Capital Q/Q Growth	-13.46%	-18.25%	-16.97%	-10.86%	-14.76%	-7.88%	-3.38%	-11.99%	-12.63%	158.93%	-9.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	13.06%	12.77%	11.66%	14.29%	13.17%	14.37%	14.42%	15.82%	14.03%	10.06%	12.89%
EBITDA Margin	11.93%	11.96%	12.17%	11.95%	12.76%	13.65%	11.22%	12.92%	14.06%	7.73%	13.48%
Operating Margin	8.73%	8.23%	7.77%	10.04%	8.49%	9.59%	6.58%	11.92%	10.38%	4.06%	8.48%
EBIT Margin	8.89%	9.20%	9.47%	9.38%	10.40%	11.25%	8.77%	10.59%	11.78%	5.08%	9.72%
Profit (Net Income) Margin	4.55%	5.01%	5.89%	6.68%	7.46%	8.12%	6.42%	7.46%	7.60%	2.26%	4.19%
Tax Burden Percent	58.98%	59.79%	67.78%	77.12%	76.13%	75.66%	76.21%	74.47%	72.74%	70.99%	71.78%
Interest Burden Percent	86.66%	91.04%	91.76%	92.32%	94.16%	95.41%	96.01%	94.62%	88.70%	62.71%	60.00%
Effective Tax Rate	39.47%	39.40%	31.33%	22.88%	23.51%	24.29%	23.79%	25.53%	27.26%	29.01%	28.22%
Return on Invested Capital (ROIC)	9.27%	8.90%	9.78%	13.59%	10.87%	11.62%	8.28%	16.40%	13.37%	2.63%	5.60%
ROIC Less NNEP Spread (ROIC-NNEP)	-30.91%	5.66%	-2.51%	40.00%	-4.42%	1.03%	-36.25%	-19.83%	13.90%	1.03%	1.32%
Return on Net Nonoperating Assets (RNNOA)	-1.03%	-0.08%	0.19%	-2.64%	0.42%	-0.12%	1.79%	-1.54%	2.70%	0.57%	0.92%
Return on Equity (ROE)	8.24%	8.83%	9.97%	10.95%	11.29%	11.50%	10.08%	14.86%	16.07%	3.19%	6.52%
Cash Return on Invested Capital (CROIC)	-1.23%	9.89%	0.71%	-0.55%	9.28%	1.20%	-2.10%	0.51%	-3.06%	-99.75%	6.54%
Operating Return on Assets (OROA)	6.72%	6.96%	7.06%	7.33%	7.64%	7.44%	6.17%	8.53%	9.56%	2.83%	6.04%
Return on Assets (ROA)	3.43%	3.79%	4.39%	5.22%	5.47%	5.37%	4.51%	6.01%	6.17%	1.26%	2.60%
Return on Common Equity (ROCE)	8.24%	8.83%	9.97%	10.95%	11.29%	11.50%	10.08%	14.86%	16.07%	3.19%	6.52%
Return on Equity Simple (ROE_SIMPLE)	7.97%	8.35%	9.49%	10.37%	10.73%	11.14%	10.06%	14.77%	15.28%	2.31%	0.00%
Net Operating Profit after Tax (NOPAT)	40	40	46	71	62	70	55	125	120	52	168
NOPAT Margin	5.28%	4.98%	5.34%	7.74%	6.49%	7.26%	5.01%	8.88%	7.55%	2.89%	6.09%
Net Nonoperating Expense Percent (NNEP)	40.18%	3.24%	12.28%	-26.41%	15.29%	10.59%	44.53%	36.23%	-0.53%	1.60%	4.28%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	12.03%	10.27%	1.61%	5.17%
Cost of Revenue to Revenue	86.94%	87.23%	88.34%	85.71%	86.83%	85.63%	85.58%	84.18%	85.97%	89.94%	87.11%
SG&A Expenses to Revenue	4.33%	4.54%	3.89%	4.25%	4.68%	4.78%	5.08%	3.90%	3.64%	6.00%	4.40%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.33%	4.54%	3.89%	4.25%	4.68%	4.78%	7.84%	3.90%	3.64%	6.00%	4.40%
Earnings before Interest and Taxes (EBIT)	67	74	81	86	99	108	97	150	187	92	268
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	90	96	104	110	121	132	124	182	224	140	372
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.20	1.53	1.60	1.84	2.25	2.07	2.89	3.34	3.94	2.31	1.56
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	324.14	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.69	0.92	0.99	1.19	1.56	1.51	1.84	1.69	1.96	2.26	1.00
Price to Earnings (P/E)	15.12	18.34	16.82	17.76	20.93	18.53	28.75	22.60	26.18	100.07	23.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.62%	5.45%	5.94%	5.63%	4.78%	5.40%	3.48%	4.42%	3.82%	1.00%	4.21%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.57	1.65	1.89	2.44	2.18	2.90	3.04	3.39	1.77	1.33
Enterprise Value to Revenue (EV/Rev)	0.72	0.88	0.94	1.15	1.47	1.44	1.84	1.77	2.07	2.95	1.44
Enterprise Value to EBITDA (EV/EBITDA)	6.01	7.32	7.73	9.64	11.51	10.51	16.43	13.74	14.75	38.12	10.67
Enterprise Value to EBIT (EV/EBIT)	8.06	9.52	9.93	12.28	14.11	12.75	21.03	16.76	17.60	58.00	14.80
Enterprise Value to NOPAT (EV/NOPAT)	13.56	17.57	17.63	14.88	22.61	19.76	36.78	19.99	27.46	102.17	23.62
Enterprise Value to Operating Cash Flow (EV/OCF)	11.35	9.46	10.44	10.09	14.18	9.42	15.53	19.87	21.50	43.23	20.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	15.80	242.37	0.00	26.46	191.51	0.00	645.56	0.00	0.00	20.21
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.51	0.44	0.36	0.27	0.18	0.18	0.27	0.46	0.48	0.82	0.84
Long-Term Debt to Equity	0.48	0.40	0.34	0.23	0.16	0.15	0.22	0.37	0.39	0.75	0.79
Financial Leverage	0.03	-0.01	-0.08	-0.07	-0.10	-0.11	-0.05	0.08	0.19	0.55	0.69
Leverage Ratio	2.40	2.33	2.27	2.10	2.06	2.14	2.23	2.47	2.61	2.53	2.51
Compound Leverage Factor	2.08	2.12	2.08	1.94	1.94	2.04	2.14	2.34	2.31	1.59	1.50
Debt to Total Capital	33.89%	30.48%	26.73%	21.02%	15.58%	15.44%	21.21%	31.56%	32.36%	45.20%	45.75%
Short-Term Debt to Total Capital	1.99%	2.52%	2.09%	3.00%	2.07%	2.44%	3.84%	6.07%	5.66%	3.92%	2.97%
Long-Term Debt to Total Capital	31.91%	27.97%	24.64%	18.03%	13.51%	13.00%	17.37%	25.49%	26.69%	41.28%	42.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	66.11%	69.52%	73.27%	78.98%	84.42%	84.56%	78.79%	68.44%	67.64%	54.80%	54.25%
Debt to EBITDA	2.45	2.20	1.86	1.43	1.01	0.97	1.53	1.80	1.69	10.47	4.00
Net Debt to EBITDA	0.25	-0.36	-0.41	-0.28	-0.73	-0.51	-0.01	0.68	0.81	8.84	3.29
Long-Term Debt to EBITDA	2.31	2.02	1.72	1.23	0.87	0.82	1.25	1.46	1.40	9.56	3.74
Debt to NOPAT	5.53	5.28	4.24	2.21	1.98	1.83	3.42	2.62	3.15	28.06	8.85
Net Debt to NOPAT	0.56	-0.86	-0.94	-0.44	-1.43	-0.97	-0.01	0.99	1.51	23.69	7.28
Long-Term Debt to NOPAT	5.21	4.84	3.91	1.90	1.71	1.54	2.80	2.12	2.60	25.62	8.27
Altman Z-Score	2.00	2.10	2.27	2.72	2.66	2.51	2.76	2.82	3.22	1.70	1.81
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.37	1.30	1.34	1.32	1.25	1.15	1.07	1.11	1.20	1.18	1.22
Quick Ratio	0.57	0.53	0.56	0.65	0.61	0.58	0.58	0.66	0.76	0.78	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.28	44	3.32	-2.91	53	7.22	-14	3.88	-28	-1,988	196
Operating Cash Flow to CapEx	641.22%	1,788.48%	647.80%	719.69%	707.74%	1,268.53%	1,459.86%	1,459.69%	665.92%	957.81%	1,135.00%
Free Cash Flow to Firm to Interest Expense	-0.59	6.72	0.50	-0.44	9.13	1.45	-3.63	0.48	-1.37	-57.82	1.83
Operating Cash Flow to Interest Expense	5.32	11.23	11.54	15.84	17.03	29.47	33.91	15.69	7.63	3.60	1.80
Operating Cash Flow Less CapEx to Interest Expense	4.49	10.61	9.76	13.64	14.62	27.15	31.58	14.62	6.48	3.22	1.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.76	0.75	0.78	0.73	0.66	0.70	0.81	0.81	0.56	0.62
Accounts Receivable Turnover	5.06	4.86	4.70	4.66	4.42	4.40	4.82	4.90	4.45	3.96	5.06
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	38.84	40.38	37.57	30.59	25.77	23.87	26.07	31.87	31.14	24.98	32.56
Accounts Payable Turnover	18.04	17.16	15.56	14.37	12.95	12.45	14.56	16.23	16.73	18.80	26.46
Days Sales Outstanding (DSO)	72.15	75.06	77.59	78.30	82.61	82.97	75.70	74.53	81.97	92.08	72.18
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	20.24	21.27	23.46	25.40	28.18	29.33	25.07	22.49	21.82	19.41	13.79
Cash Conversion Cycle (CCC)	51.91	53.79	54.13	52.90	54.44	53.64	50.64	52.04	60.15	72.67	58.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	450	446	488	562	571	634	703	825	973	3,013	2,984
Invested Capital Turnover	1.75	1.79	1.83	1.76	1.67	1.60	1.65	1.85	1.77	0.91	0.92
Increase / (Decrease) in Invested Capital	45	-4.45	42	74	8.98	63	69	121	148	2,040	-28
Enterprise Value (EV)	538	700	805	1,062	1,392	1,383	2,037	2,506	3,301	5,347	3,967
Market Capitalization	516	735	847	1,093	1,480	1,451	2,038	2,382	3,120	4,107	2,745
Book Value per Share	$8.18	$8.95	$9.68	$10.70	$12.01	$12.88	$13.53	$14.04	$15.88	$35.47	$32.39
Tangible Book Value per Share	($2.06)	($1.95)	($1.50)	($0.78)	$0.08	($0.99)	($2.62)	($4.69)	($4.35)	($23.22)	($20.36)
Total Capital	647	691	725	752	781	831	894	1,042	1,170	3,248	3,248
Total Debt	219	211	194	158	122	128	190	329	379	1,468	1,486
Total Long-Term Debt	207	193	179	136	106	108	155	266	312	1,341	1,390
Net Debt	22	-34	-43	-31	-88	-68	-0.62	124	181	1,240	1,222
Capital Expenditures (CapEx)	7.39	4.14	12	15	14	12	8.98	8.64	23	13	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-83	-125	-107	-65	-103	-118	-128	-85	-31	29	-3.50
Debt-free Net Working Capital (DFNWC)	114	120	129	125	106	78	63	119	167	257	260
Net Working Capital (NWC)	101	102	114	102	90	58	28	56	101	130	164
Net Nonoperating Expense (NNE)	5.54	-0.20	-4.74	9.80	-9.12	-8.29	-16	20	-0.77	11	53
Net Nonoperating Obligations (NNO)	22	-34	-43	-31	-88	-69	-1.07	112	181	1,233	1,222
Total Depreciation and Amortization (D&A)	23	22	23	24	22	23	27	33	36	48	104
Debt-free, Cash-free Net Working Capital to Revenue	-11.05%	-15.67%	-12.56%	-7.01%	-10.90%	-12.20%	-11.54%	-6.04%	-1.92%	1.60%	-0.13%
Debt-free Net Working Capital to Revenue	15.23%	14.94%	15.09%	13.53%	11.21%	8.14%	5.68%	8.45%	10.50%	14.19%	9.43%
Net Working Capital to Revenue	13.52%	12.77%	13.32%	11.09%	9.50%	6.03%	2.57%	3.97%	6.33%	7.16%	5.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.69	$0.77	$0.94	$1.13	$1.30	$1.44	$1.35	$2.05	$2.42	$0.78	$1.84
Adjusted Weighted Average Basic Shares Outstanding	50.28M	52.32M	53.86M	54.56M	54.30M	54.29M	52.64M	51.50M	49.99M	52.38M	62.91M
Adjusted Diluted Earnings per Share	$0.65	$0.75	$0.91	$1.09	$1.26	$1.41	$1.32	$2.01	$2.39	$0.78	$1.83
Adjusted Weighted Average Diluted Shares Outstanding	52.69M	53.51M	55.69M	56.49M	55.90M	55.36M	53.72M	52.39M	50.56M	52.66M	63.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.55M	54.03M	55.01M	54.85M	55.31M	53.49M	52.18M	50.38M	50.02M	53.76M	50.07M
Normalized Net Operating Profit after Tax (NOPAT)	40	40	46	71	62	70	79	125	120	52	168
Normalized NOPAT Margin	5.28%	4.98%	5.34%	7.74%	6.49%	7.26%	7.11%	8.88%	7.55%	2.89%	6.09%
Pre Tax Income Margin	7.71%	8.38%	8.69%	8.66%	9.79%	10.74%	8.42%	10.02%	10.45%	3.19%	5.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.50	11.16	12.13	13.02	17.11	21.77	25.05	18.60	9.31	2.68	2.50
NOPAT to Interest Expense	4.45	6.05	6.84	10.74	10.68	14.05	14.32	15.59	5.97	1.52	1.57
EBIT Less CapEx to Interest Expense	6.67	10.54	10.35	10.81	14.71	19.45	22.72	17.52	8.17	2.31	2.34
NOPAT Less CapEx to Interest Expense	3.62	5.42	5.06	8.54	8.28	11.73	12.00	14.52	4.83	1.15	1.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	106.96%	22.82%	39.17%	28.40%	38.41%	72.15%	137.47%	116.31%	54.05%	0.00%	138.66%

This table displays calculated financial ratios and metrics derived from CBIZ's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	50,073,624.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	50,073,624.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.23
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.01%	11.02%	8.73%	5.40%	6.90%	40.52%	69.54%	62.73%	58.09%	17.90%	1.26%
EBITDA Growth	31.88%	35.95%	5.51%	-18.07%	5.38%	-2,396.78%	88.87%	153.83%	41.66%	30.86%	22.90%
EBIT Growth	36.34%	6.14%	5.15%	-22.61%	5.46%	-731.94%	82.51%	151.33%	22.22%	20.99%	26.42%
NOPAT Growth	27.06%	-37.72%	1.73%	-17.67%	-13.27%	-298.97%	93.89%	97.25%	28.41%	20.16%	-1.30%
Net Income Growth	22.61%	-10.78%	5.09%	-26.32%	4.16%	-612.28%	59.69%	111.90%	-14.07%	12.46%	31.63%
EPS Growth	26.42%	-13.64%	6.25%	-26.42%	4.48%	-636.00%	24.84%	69.23%	-31.43%	33.70%	37.70%
Operating Cash Flow Growth	-12.76%	45.68%	-43.16%	18.75%	58.87%	-42.31%	-38.52%	28.34%	-45.19%	158.70%	71.09%
Free Cash Flow Firm Growth	23.46%	-23.21%	53.71%	69.28%	88.21%	-1,170.74%	-3,502.11%	-3,486.66%	-12,794.99%	98.52%	110.17%
Invested Capital Growth	18.76%	17.90%	12.00%	7.51%	4.52%	209.74%	176.59%	185.18%	182.08%	-0.94%	-1.81%
Revenue Q/Q Growth	3.02%	-20.22%	50.91%	-15.03%	4.49%	4.87%	82.07%	-18.44%	1.51%	-21.79%	56.37%
EBITDA Q/Q Growth	16.80%	-105.60%	3,490.60%	-63.03%	50.23%	-232.60%	356.49%	-50.32%	-16.16%	-164.72%	558.60%
EBIT Q/Q Growth	20.47%	-124.10%	948.91%	-68.60%	64.15%	-290.13%	286.23%	-56.76%	-20.18%	-222.91%	397.98%
NOPAT Q/Q Growth	46.37%	-147.46%	491.42%	-69.72%	54.19%	-318.32%	290.22%	-69.20%	0.38%	-235.73%	335.17%
Net Income Q/Q Growth	25.38%	-137.82%	703.63%	-74.26%	77.25%	-358.59%	235.33%	-65.84%	-28.12%	-363.44%	303.50%
EPS Q/Q Growth	26.42%	-137.31%	712.00%	-74.51%	79.49%	-362.86%	203.80%	-65.45%	-27.27%	-354.17%	315.57%
Operating Cash Flow Q/Q Growth	-62.92%	249.69%	-166.20%	238.35%	-50.40%	26.97%	-258.97%	228.19%	-78.82%	499.34%	-117.76%
Free Cash Flow Firm Q/Q Growth	27.83%	-21.97%	66.91%	-6.50%	72.30%	-13,044.42%	7.10%	-6.05%	0.42%	98.49%	737.73%
Invested Capital Q/Q Growth	4.20%	-12.63%	22.85%	-3.71%	1.29%	158.93%	9.52%	-0.72%	0.19%	-9.07%	8.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.66%	-4.06%	23.83%	12.77%	16.61%	-13.45%	27.22%	12.86%	12.99%	-9.35%	26.63%
EBITDA Margin	15.15%	-1.06%	23.87%	10.38%	14.93%	-18.88%	26.59%	16.20%	13.38%	-11.07%	32.46%
Operating Margin	13.46%	-8.16%	20.05%	7.52%	11.32%	-23.17%	23.87%	8.82%	8.48%	-15.69%	23.15%
EBIT Margin	12.92%	-3.90%	21.96%	8.11%	12.75%	-23.11%	23.64%	12.53%	9.85%	-15.48%	29.51%
Profit (Net Income) Margin	8.20%	-3.89%	15.55%	4.71%	7.99%	-19.71%	14.65%	6.14%	4.34%	-14.63%	19.05%
Tax Burden Percent	71.37%	66.79%	73.92%	70.21%	68.83%	72.36%	71.00%	72.59%	74.61%	72.03%	71.36%
Interest Burden Percent	88.98%	149.16%	95.84%	82.73%	91.12%	117.88%	87.30%	67.46%	59.10%	131.22%	90.45%
Effective Tax Rate	28.63%	0.00%	26.08%	29.79%	31.17%	0.00%	29.00%	27.41%	25.39%	0.00%	28.64%
Return on Invested Capital (ROIC)	14.60%	-10.11%	21.41%	7.87%	11.50%	-14.76%	16.28%	7.00%	7.62%	-10.10%	13.99%
ROIC Less NNEP Spread (ROIC-NNEP)	12.13%	-6.03%	22.58%	7.00%	11.83%	-17.03%	14.02%	6.78%	5.95%	-11.72%	15.56%
Return on Net Nonoperating Assets (RNNOA)	3.57%	-1.17%	8.53%	2.31%	3.66%	-9.37%	8.63%	4.00%	3.50%	-8.12%	11.15%
Return on Equity (ROE)	18.17%	-11.29%	29.94%	10.18%	15.17%	-24.13%	24.90%	11.00%	11.11%	-18.22%	25.14%
Cash Return on Invested Capital (CROIC)	-4.98%	-3.06%	-0.56%	3.30%	5.37%	-99.75%	-88.45%	-89.74%	-88.48%	6.54%	6.90%
Operating Return on Assets (OROA)	10.14%	-3.17%	16.91%	6.31%	10.18%	-12.86%	15.03%	9.06%	7.90%	-9.62%	17.73%
Return on Assets (ROA)	6.44%	-3.15%	11.98%	3.66%	6.39%	-10.97%	9.32%	4.43%	3.48%	-9.09%	11.44%
Return on Common Equity (ROCE)	18.17%	-11.29%	29.94%	10.18%	15.17%	-24.13%	24.90%	11.00%	11.11%	-18.22%	25.14%
Return on Equity Simple (ROE_SIMPLE)	15.08%	0.00%	14.38%	13.19%	12.83%	0.00%	4.54%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	39	-19	73	22	34	-75	142	44	44	-60	140
NOPAT Margin	9.61%	-5.71%	14.82%	5.28%	7.79%	-16.22%	16.95%	6.40%	6.33%	-10.98%	16.52%
Net Nonoperating Expense Percent (NNEP)	2.47%	-4.09%	-1.17%	0.87%	-0.33%	2.27%	2.25%	0.22%	1.67%	1.61%	-1.57%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.60%	-	-	-	-2.30%	4.07%	1.26%	1.27%	-1.84%	4.05%
Cost of Revenue to Revenue	83.34%	104.06%	76.17%	87.23%	83.39%	113.45%	72.78%	87.14%	87.01%	109.35%	73.37%
SG&A Expenses to Revenue	3.20%	4.10%	3.79%	5.25%	5.29%	9.73%	3.35%	4.04%	4.51%	6.34%	3.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.20%	4.10%	3.79%	5.25%	5.29%	9.73%	3.35%	4.04%	4.51%	6.34%	3.48%
Earnings before Interest and Taxes (EBIT)	53	-13	109	34	56	-106	198	86	68	-84	250
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	62	-3.48	118	44	66	-87	223	111	93	-60	275
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.19	3.94	4.51	4.17	3.64	2.31	2.13	2.06	1.53	1.56	0.71
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.66	1.96	2.40	2.25	2.01	2.26	1.89	1.61	1.07	1.00	0.49
Price to Earnings (P/E)	20.90	26.18	31.84	32.50	29.18	100.07	46.91	35.76	27.45	23.77	8.71
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.79%	3.82%	3.14%	3.08%	3.43%	1.00%	2.13%	2.80%	3.64%	4.21%	11.48%
Enterprise Value to Invested Capital (EV/IC)	2.59	3.39	3.55	3.46	3.10	1.77	1.66	1.61	1.30	1.33	0.83
Enterprise Value to Revenue (EV/Rev)	1.85	2.07	2.60	2.40	2.15	2.95	2.53	2.18	1.60	1.44	0.97
Enterprise Value to EBITDA (EV/EBITDA)	13.02	14.75	18.43	18.03	16.15	38.12	22.29	16.93	12.57	10.67	6.36
Enterprise Value to EBIT (EV/EBIT)	15.47	17.60	21.98	21.72	19.44	58.00	30.06	22.65	17.37	14.80	8.40
Enterprise Value to NOPAT (EV/NOPAT)	23.14	27.46	34.89	34.01	32.40	102.17	45.59	37.24	28.11	23.62	16.22
Enterprise Value to Operating Cash Flow (EV/OCF)	23.42	21.50	31.56	26.80	21.96	43.23	55.10	42.57	40.90	20.61	10.54
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	108.72	59.05	0.00	0.00	0.00	0.00	20.21	11.93
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.48	0.58	0.49	0.42	0.82	0.82	0.84	0.85	0.84	0.83
Long-Term Debt to Equity	0.49	0.39	0.50	0.43	0.36	0.75	0.76	0.79	0.80	0.79	0.77
Financial Leverage	0.29	0.19	0.38	0.33	0.31	0.55	0.62	0.59	0.59	0.69	0.72
Leverage Ratio	2.51	2.61	2.58	2.55	2.42	2.53	2.44	2.41	2.39	2.51	2.42
Compound Leverage Factor	2.23	3.89	2.48	2.11	2.21	2.99	2.13	1.62	1.41	3.29	2.19
Debt to Total Capital	36.45%	32.36%	36.68%	32.83%	29.70%	45.20%	45.14%	45.69%	46.08%	45.75%	45.29%
Short-Term Debt to Total Capital	5.50%	5.66%	4.71%	4.13%	4.14%	3.92%	3.24%	2.97%	2.79%	2.97%	3.08%
Long-Term Debt to Total Capital	30.95%	26.69%	31.97%	28.71%	25.56%	41.28%	41.90%	42.72%	43.29%	42.78%	42.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.55%	67.64%	63.32%	67.17%	70.30%	54.80%	54.86%	54.31%	53.92%	54.25%	54.71%
Debt to EBITDA	2.10	1.69	2.18	1.98	1.75	10.47	6.43	5.10	4.71	4.00	3.71
Net Debt to EBITDA	1.36	0.81	1.42	1.17	1.05	8.84	5.65	4.43	4.15	3.29	3.18
Long-Term Debt to EBITDA	1.78	1.40	1.90	1.73	1.51	9.56	5.97	4.77	4.43	3.74	3.45
Debt to NOPAT	3.72	3.15	4.14	3.73	3.52	28.06	13.15	11.22	10.53	8.85	9.46
Net Debt to NOPAT	2.42	1.51	2.68	2.21	2.11	23.69	11.56	9.75	9.29	7.28	8.12
Long-Term Debt to NOPAT	3.16	2.60	3.60	3.26	3.03	25.62	12.21	10.49	9.89	8.27	8.81
Altman Z-Score	2.76	2.90	3.40	3.31	3.33	1.56	1.93	1.90	1.71	1.55	1.53
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.20	1.54	1.48	1.49	1.18	1.52	1.60	1.57	1.22	1.63
Quick Ratio	0.98	0.76	1.08	1.02	1.05	0.78	1.13	1.19	1.15	0.78	1.22
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-136	-166	-55	-58	-16	-2,115	-1,965	-2,083	-2,075	-31	200
Operating Cash Flow to CapEx	376.59%	2,396.14%	-1,244.29%	4,760.21%	1,633.51%	1,701.10%	-1,704.96%	1,423.58%	1,254.76%	7,465.64%	-850.50%
Free Cash Flow to Firm to Interest Expense	-23.33	-32.58	-12.09	-9.87	-3.24	-111.21	-78.10	-74.76	-74.20	-1.19	8.36
Operating Cash Flow to Interest Expense	4.71	18.84	-14.13	14.98	8.80	2.92	-3.51	4.06	0.86	5.48	-1.07
Operating Cash Flow Less CapEx to Interest Expense	3.46	18.06	-15.26	14.67	8.26	2.75	-3.71	3.78	0.79	5.40	-1.19
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.81	0.77	0.78	0.80	0.56	0.64	0.72	0.80	0.62	0.60
Accounts Receivable Turnover	3.60	4.45	3.44	3.54	3.57	3.96	3.48	4.20	4.47	5.06	3.68
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	30.94	31.14	31.09	30.72	30.29	24.98	28.75	33.34	38.39	32.56	32.16
Accounts Payable Turnover	17.17	16.73	15.93	12.10	17.28	18.80	19.01	18.32	24.96	26.46	25.51
Days Sales Outstanding (DSO)	101.26	81.97	105.96	103.18	102.33	92.08	104.87	86.99	81.59	72.18	99.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	21.25	21.82	22.92	30.16	21.12	19.41	19.20	19.93	14.62	13.79	14.31
Cash Conversion Cycle (CCC)	80.00	60.15	83.04	73.02	81.21	72.67	85.66	67.07	66.96	58.39	84.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,113	973	1,193	1,149	1,164	3,013	3,300	3,276	3,282	2,984	3,240
Invested Capital Turnover	1.52	1.77	1.44	1.49	1.48	0.91	0.96	1.09	1.20	0.92	0.85
Increase / (Decrease) in Invested Capital	176	148	128	80	50	2,040	2,107	2,127	2,119	-28	-60
Enterprise Value (EV)	2,888	3,301	4,238	3,972	3,611	5,347	5,463	5,285	4,269	3,967	2,690
Market Capitalization	2,586	3,120	3,913	3,713	3,375	4,107	4,078	3,901	2,859	2,745	1,344
Book Value per Share	$16.27	$15.88	$17.33	$17.79	$18.50	$35.47	$35.62	$34.78	$34.68	$32.39	$30.84
Tangible Book Value per Share	($4.09)	($4.35)	($3.42)	($2.87)	($2.04)	($23.22)	($18.45)	($18.53)	($18.79)	($20.36)	($15.66)
Total Capital	1,275	1,170	1,369	1,327	1,320	3,248	3,490	3,484	3,471	3,248	3,462
Total Debt	465	379	502	436	392	1,468	1,575	1,592	1,599	1,486	1,568
Total Long-Term Debt	395	312	438	381	337	1,341	1,463	1,488	1,503	1,390	1,461
Net Debt	303	181	326	259	236	1,240	1,385	1,384	1,410	1,222	1,346
Capital Expenditures (CapEx)	7.31	4.02	5.12	1.85	2.68	3.26	5.18	7.95	1.91	1.92	3.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	99	-31	140	104	121	29	265	259	271	-3.50	298
Debt-free Net Working Capital (DFNWC)	262	167	317	281	278	257	456	467	460	260	520
Net Working Capital (NWC)	191	101	252	226	223	130	343	364	364	164	413
Net Nonoperating Expense (NNE)	5.75	-5.98	-3.63	2.39	-0.88	16	19	1.81	14	20	-21
Net Nonoperating Obligations (NNO)	303	181	326	257	236	1,233	1,385	1,384	1,410	1,222	1,346
Total Depreciation and Amortization (D&A)	9.13	9.30	9.47	9.54	9.59	19	25	25	24	24	25
Debt-free, Cash-free Net Working Capital to Revenue	6.38%	-1.92%	8.60%	6.28%	7.21%	1.60%	12.29%	10.72%	10.14%	-0.13%	10.76%
Debt-free Net Working Capital to Revenue	16.78%	10.50%	19.42%	17.00%	16.51%	14.19%	21.13%	19.31%	17.21%	9.43%	18.79%
Net Working Capital to Revenue	12.28%	6.33%	15.46%	13.69%	13.26%	7.16%	15.89%	15.03%	13.59%	5.93%	14.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.68	($0.25)	$1.54	$0.39	$0.70	($1.85)	$1.92	$0.66	$0.48	($1.22)	$2.63
Adjusted Weighted Average Basic Shares Outstanding	49.84M	49.99M	50.05M	50.11M	50.15M	52.38M	63.84M	63.54M	62.36M	62.91M	61.42M
Adjusted Diluted Earnings per Share	$0.67	($0.25)	$1.53	$0.39	$0.70	($1.84)	$1.91	$0.66	$0.48	($1.22)	$2.63
Adjusted Weighted Average Diluted Shares Outstanding	50.37M	50.56M	50.22M	50.28M	50.40M	52.66M	64.14M	63.78M	62.70M	63.24M	61.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	49.84M	50.02M	50.11M	50.16M	50.19M	53.76M	54.40M	53.98M	54.40M	50.07M	53.65B
Normalized Net Operating Profit after Tax (NOPAT)	39	-19	73	22	34	-75	142	44	44	-60	140
Normalized NOPAT Margin	9.61%	-5.71%	14.82%	5.28%	7.79%	-16.22%	16.95%	6.40%	6.33%	-10.98%	16.52%
Pre Tax Income Margin	11.50%	-5.82%	21.04%	6.71%	11.61%	-27.24%	20.63%	8.45%	5.82%	-20.32%	26.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.07	-2.50	24.06	5.79	11.26	-5.59	7.87	3.07	2.45	-3.20	10.47
NOPAT to Interest Expense	6.74	-3.66	16.24	3.77	6.88	-3.93	5.65	1.57	1.57	-2.27	5.86
EBIT Less CapEx to Interest Expense	7.82	-3.29	22.92	5.48	10.72	-5.76	7.67	2.79	2.38	-3.28	10.34
NOPAT Less CapEx to Interest Expense	5.49	-4.45	15.10	3.45	6.35	-4.10	5.44	1.28	1.50	-2.35	5.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	93.53%	54.05%	36.57%	14.12%	6.42%	0.00%	0.00%	65.39%	122.68%	138.66%	122.53%

Financials Breakdown Chart

Key Financial Trends

Here are the top trends for CBIZ, Inc. (CBZ) based on the last four years of quarterly income statements, balance sheets, and cash flow statements. Items are grouped by impact, with positives first, then neutral, then negatives.

Revenue-in-quarter: Q4 2025 revenue rose to $542.7 million, up from $460.3 million in Q4 2024 (about +18%).
Year-to-year profitability signals in 2025: Net income was positive in Q1 2025 ($122.8M), Q2 2025 ($41.9M), and Q3 2025 ($30.1M), suggesting improving quarterly earnings exposure through the year before the Q4 dip.
Strong cash generation in Q4 2025: Net cash from continuing operating activities was $143.6 million, and the net change in cash was +$74.2 million, signaling improved operating cash flow in the quarter.
Debt financing activity: CBIZ issued $286.7 million of debt in Q4 2025, providing liquidity for potential growth initiatives or balance sheet flexibility.
Total assets were around $4.55 billion by Q3 2025, reflecting substantial balance-sheet growth relative to prior periods and potential consolidation effects.
Earnings per share span: 2025 shows significant quarterly EPS swings (Q1 EPS $1.92; Q4 2025 EPS -$1.22), indicating earnings volatility rather than a steady trend.
Leverage level: Long-term debt sits around $1.50 billion in 2025, implying a meaningful but manageable capital structure portion of liabilities and equity.
Q4 2025 net income declined to a net loss of about $79.4 million, marking a quarterly earnings setback.
Q4 2025 gross profit was negative: Total Gross Profit at -$50.7 million, driven by higher operating costs relative to revenue in that quarter.
Q4 2024 also showed a net loss: Consolidated net income was about -$90.7 million, underscoring ongoing quarterly earnings volatility around year-end.

05/06/26 11:12 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About CBIZ's Financials

When does CBIZ's financial year end?

According to the most recent income statement we have on file, CBIZ's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has CBIZ's net income changed over the last 10 years?

CBIZ's net income appears to be on an upward trend, with a most recent value of $115.44 million in 2025, rising from $34.11 million in 2015. The previous period was $41.04 million in 2024. See where experts think CBIZ is headed by visiting CBIZ's forecast page.

What is CBIZ's operating income?

CBIZ's total operating income in 2025 was $234.01 million, based on the following breakdown:

Total Gross Profit: $355.39 million
Total Operating Expenses: $121.38 million

How has CBIZ's revenue changed over the last 10 years?

Over the last 10 years, CBIZ's total revenue changed from $750.42 million in 2015 to $2.76 billion in 2025, a change of 267.5%.

How much debt does CBIZ have?

CBIZ's total liabilities were at $2.65 billion at the end of 2025, a 1.6% decrease from 2024, and a 365.8% increase since 2015.

How much cash does CBIZ have?

In the past 10 years, CBIZ's cash and equivalents has ranged from $424 thousand in 2017 to $18.29 million in 2025, and is currently $18.29 million as of their latest financial filing in 2025.

How has CBIZ's book value per share changed over the last 10 years?

Over the last 10 years, CBIZ's book value per share changed from 8.18 in 2015 to 32.39 in 2025, a change of 295.8%.

Related Companies

Financial statements for NYSE:CBZ last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

CBIZ (CBZ) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About CBIZ's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

CBIZ (CBZ) Financials

Annual Income Statements for CBIZ

Quarterly Income Statements for CBIZ

Annual Cash Flow Statements for CBIZ

Quarterly Cash Flow Statements for CBIZ

Annual Balance Sheets for CBIZ

Quarterly Balance Sheets for CBIZ

Annual Metrics And Ratios for CBIZ

Quarterly Metrics And Ratios for CBIZ

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About CBIZ's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools