CBIZ, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CBIZ, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	800	855	922	948	964	1,105	1,412	1,591	1,813	2,758
Cost of revenue	698	756	790	823	825	946	1,189	1,368	1,631	2,403
Gross profit	102	99.8	132	125	139	159	223	223	182	355
General and administrative	36.3	33.3	39.2	44.4	46.1	56.2	55	58	109	121
Operating income	65.8	66.5	92.5	80.5	92.5	72.7	168	165	73.7	234
Interest expense	6.59	6.68	6.65	5.77	4.98	3.87	8.04	20.1	34.4	107
Other non-operating income	1.22	7.86	-12.7	12.4	11	20.3	-26.9	1.06	-15.9	-73.2
Pre-tax income	67	74.3	79.8	92.9	103	93	141	166	57.8	161
Income tax	26.4	23.3	18.3	21.8	25.1	22.1	36.1	45.3	16.8	45.4
Income from continuing operations	40.6	51	61.6	71	78.3	70.9	105	121	41	115
Net income	40.1	50.4	61.6	70.7	78.3	70.9	105	121	41	115
EBITDA	87.9	89.5	116	103	116	99.8	201	202	122	332
EPS, basic	0.77	0.94	1.13	1.30	1.44	1.35	2.05	2.42	0.78	1.84
EPS, diluted	0.75	0.91	1.09	1.26	1.41	1.32	2.01	2.39	0.78	1.83
Shares, basic (weighted)	52.3	53.9	54.6	54.3	54.3	52.6	51.5	50	52.4	62.9
Shares, diluted (weighted)	53.5	55.7	56.5	55.9	55.4	53.7	52.4	50.6	52.7	63.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3.49	0.42	0.64	0.57	4.65	2	4.7	8.09	13.8	18.3
Receivables	175	188	207	222	216	242	334	380	535	556
Other current assets	21.4	23.4	26.8	24.3	24.2	19.2	29.4	34.9	72.5	79.7
Total current assets	442	448	424	456	436	452	568	613	836	899
Property, plant and equipment	19.5	26.1	34.2	39.4	41.3	43.4	45.2	57	88.2	81.2
Lease right-of-use assets				141	148	151	184	211	394	334
Goodwill	487	528	564	588	683	741	820	865	2,331	2,330
Other non-current assets	2.01	3.18	3.84	2.99	4.05	4.59	10.9	10.8	40.8	38.3
Total assets	1,119	1,176	1,183	1,401	1,514	1,628	1,879	2,044	4,471	4,410
Accounts payable	45.8	51.4	58.6	68.5	64.1	65.8	80.7	82.8	90.6	90.9
Accrued liabilities	45.2	45.3	64	59.9	80	114	130	134	173	198
Short-term debt								0	66.2	66.4
Total current liabilities	339	334	321	366	378	423	512	512	706	736
Long-term debt	190	178	134	104	107	155	264	311	1,334	1,390
Lease liabilities				132	142	146	174	204	373	308
Other non-current liabilities	12.1	17.6	22.3	1.74	11.7	1.18	0.57	1.89	62.7	7.18
Total liabilities	639	645	589	742	811	923	1,166	1,252	2,691	2,647
Total debt	190	178	134	104	107	155	264	311	1,400	1,456
Paid-in capital	656	676	692	715	741	770	799	832	1,792	1,831
Retained earnings	295	345	409	480	558	629	734	855	896	1,012
Treasury stock	-471	-491	-509	-536	-595	-695	-825	-899	-911	-1,079
Other comprehensive income	-0.5	-0.18	-0.48	-0.68	-2.27	-0.97	3.6	1.78	1.22	-3.29
Shareholders' equity	480	531	594	659	703	705	713	792	1,780	1,762
Total equity	480	531	594	659	703	705	713	792	1,780	1,762
Total liabilities and equity	1,119	1,176	1,183	1,401	1,514	1,628	1,879	2,044	4,471	4,410
Shares outstanding	54	54.6	55.1	55.4	54.1	52	50.2	49.8	50.2	54.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	40.1	50.4	61.6	70.7	78.3	70.9	105	121	41	115
Depreciation and amortization	22.1	23.1	23.7	22.3	23.1	27.1	32.9	36.3	48.1	98.3
Stock-based compensation	5.73	5.71	6.87	7.25	8.87	11.4	14.7	12.3	13.8	26
Deferred income tax	4.86	-0.32	2.79	4.91	-2.45	6.31	7.86	5.09	-14.8	6.41
Change in receivables	-19.2	-13.8	-10.7	-15.5	6.71	-17	-61.1	-36.1	48.2	-27.1
Change in payables	10.2	3.74	0.97	9.83	-8.8	3.31	14.4	2.21	-18.8	0.44
Cash from operations	74.1	77	105	98.2	147	131	126	154	124	192
Capital expenditures	-4.14	-11.9	-14.6	-13.9	-11.6	-8.98	-8.64	-23.1	-12.9	-17
Acquisitions	-5.65	-28.1	-29.1	-11.7	-71.4	-66.7	-79.1	-53.1	-1,088	-1.63
Purchases of investments	-11.4	-15.5	-18.4	-27.2	-3.45	-27	-19.8	-14.1	-23.2	-43.4
Sales and maturities of investments	9.78	8.79	12.2	24	37.5	14.9	12.4	18.5	21.9	39.7
Cash from investing	-9.85	-48.7	-47.6	-27.7	-46.4	-82	-99.1	-79.4	-1,129	-15.9
Stock issued	8.07	8.01	6.29	10.6	6.49	7.31	10	8.76	0	0
Share buybacks	-9.14	-19.7	-17.5	-27.2	-56.5	-97.5	-123	-65.4	0	-160
Cash from financing	-18.4	-45.6	-109	-54.5	-76.6	-69	-17.3	-77.1	1,036	-146
Net change in cash	45.8	-17.2	-51.7	16	23.8	-19.9	9.67	-3	30	30.9
Free cash flow	69.9	65.1	90.6	84.3	135	122	117	130	111	176
Interest paid	6.02	6.12	6.34	5.56	4.74	3.35	7.42	19.1	25.7	105
Income taxes paid	19.3	25.1	15.3	17.5	25.9	17	27.8	40	37.5	23.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $54.68 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	27.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.7%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	52.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	25.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	94.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	16.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	20.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	217.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	11.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	20.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	172.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	18.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	23.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	181.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	8.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	134.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-3.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	55.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	15.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	5.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	58.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	14.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	35.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	20.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	32.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	23.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	20.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	6.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.47x	Current assets / current liabilities.
Quick ratio	1.07x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.78x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	31.9%	Total debt / total assets.
Liabilities / assets	59.2%	Total liabilities / total assets.
Net debt	$1.44B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$320.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	51.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$473.5M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.05	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$4.85	Cash from operations / diluted weighted shares.
Book value per share	$31.28	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$7.93	Tangible book value / shares outstanding.
Cash per share	$0.35	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.97B	Share price x shares outstanding.
Enterprise value	$4.41B	Market cap + total debt - cash - short-term investments.
P/E	24.3x	Market cap / net income. Only when net income is positive.
P/B	1.59x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	10.2x	Market cap / cash from operations, when positive.
Earnings yield	4.1%	Net income / market cap (the inverse of P/E).

What was CBIZ, Inc.'s revenue in fiscal 2025?

CBIZ, Inc. reported revenue of $2.76B for fiscal 2025, 52.1% higher than the year before.

Was CBIZ, Inc. profitable in fiscal 2025?

Yes. Net income was $115.4M, a net margin of 4.2%.

How much free cash flow did CBIZ, Inc. generate in fiscal 2025?

Cash from operations of $192.5M minus capital expenditures of $17.0M left free cash flow of $175.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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