CBIZ, Inc. is a United States-based provider of financial, insurance, and advisory services primarily targeting middle-market businesses. The company offers a broad suite of professional services, including accounting, tax preparation, benefits consulting, property and casualty insurance brokerage, and human resources solutions. It operates an alternative practice structure with the independent CPA firm CBIZ CPAs P.C., allowing it to deliver comprehensive tax and consulting services while maintaining regulatory audit independence.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
2,757,991
1,813,472
1,591,194
1,411,979
Cost of Sales
2,402,598
1,631,003
1,367,990
1,188,612
Gross Profit
355,393
182,469
223,204
223,367
Selling, General & Administrative Expenses
121,383
108,753
57,965
55,023
Operating Profit
234,010
73,716
165,239
168,344
Interest Expense
(107,215)
(34,379)
(20,131)
(8,039)
Non-Operating Income
34,040
18,470
21,195
(18,830)
Total Non-Operating Income
(73,175)
(15,909)
1,064
(26,869)
Income Before Provision for Income Taxes
160,835
57,807
166,303
141,475
Provision for Income Taxes
45,391
16,769
45,335
36,121
Consolidated Net Income
115,444
41,038
120,968
105,354
Net Income Attributable to Common Shareholders
115,444
41,038
120,968
105,354
Basic EPS
1.84
0.78
2.42
2.05
Diluted EPS
1.83
0.78
2.39
2.01
Basic Weighted Average Shares Outstanding
62,909
52,375
49,989
51,502
Diluted Weighted Average Shares Outstanding
63,240
52,661
50,557
52,388
Shares Outstanding
54,380
50,198
49,814
50,180
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
18,290
13,826
8,090
4,697
Total Cash and Cash Equivalents
18,290
13,826
8,090
4,697
Accounts Receivable
555,995
534,858
380,152
334,498
Total Trade Receivables
555,995
534,858
380,152
334,498
Other Current Assets
324,964
287,042
224,443
229,231
Total Current Assets
899,249
835,726
612,685
568,426
Net Property, Plant & Equipment
415,290
481,675
268,036
229,227
Goodwill
2,869,790
2,945,470
1,008,604
951,702
Other Long-Term Assets
225,199
208,012
154,267
129,769
Total Assets
4,409,528
4,470,883
2,043,592
1,879,124
Accounts Payable
90,934
90,646
82,831
80,725
Accrued Expenses
197,534
172,759
133,593
130,456
Short-Term Debt
66,372
66,177
—
—
Current Portion of Leases
64,674
60,549
36,283
36,358
Other Current Liabilities
316,080
315,671
259,214
264,868
Total Current Liabilities
735,594
705,802
511,921
512,407
Long-Term Debt
1,389,552
1,333,755
310,826
263,654
Leases
307,905
372,586
203,905
174,454
Other Long-Term Liabilities
214,410
278,757
225,322
215,157
Total Long-Term Liabilities
1,911,867
1,985,098
740,053
653,265
Total Liabilities
2,647,461
2,690,900
1,251,974
1,165,672
Common Stock
1,447
1,380
1,374
1,363
Treasury Stock
(1,078,521)
(910,601)
(899,093)
(824,778)
Additional Paid-in Capital
1,830,866
1,791,863
832,475
799,147
Accumulated Other Comprehensive Income
(3,291)
1,219
1,778
3,604
Retained Earnings
1,011,566
896,122
855,084
734,116
Total Common Shareholders' Equity
1,762,067
1,779,983
791,618
713,452
Total Shareholders' Equity
1,762,067
1,779,983
791,618
713,452
Total Liabilities and Shareholders' Equity
4,409,528
4,470,883
2,043,592
1,879,124
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
115,444
41,038
120,968
105,354
Depreciation & Amortization
98,270
48,060
36,269
32,895
Share-Based Compensation Expense
26,004
13,836
12,286
14,689
Other Adjustments
24,410
(2,638)
13,026
15,237
Changes in Trade Receivables
(27,096)
48,218
(36,093)
(61,106)
Changes in Accounts Payable
443
(18,846)
2,210
14,363
Changes in Accrued Expenses
14,202
(5,830)
2,711
24,009
Changes in Income Taxes Payable
17,148
(7,544)
(5,918)
(5,578)
Changes in Other Operating Activities
(76,340)
7,398
8,048
(13,731)
Cash from Operating Activities
192,485
123,692
153,507
126,132
Capital Expenditure
(16,959)
(12,914)
(23,052)
(8,641)
Purchases of Investments
(43,375)
(23,210)
(14,122)
(19,771)
Proceeds from Sale of Investments
39,691
21,923
18,465
12,400
Payments for Business Acquisitions
(1,625)
(1,087,521)
(53,110)
(79,141)
Proceeds from Business Divestments
1,530
7,131
3,059
3,022
Other Investing Activities
4,885
(34,692)
(10,633)
(6,987)
Cash from Investing Activities
(15,853)
(1,129,283)
(79,393)
(99,118)
Issuance of Long-Term Debt
1,480,100
2,487,900
1,224,000
824,900
Repayments of Long-Term Debt
(1,428,600)
(1,379,400)
(1,177,300)
(714,500)
Net Issuance / (Repayments) of Long-Term Debt
51,500
1,108,500
46,700
110,400
Issuance of Common Shares
—
—
8,764
10,035
Repurchases of Common Shares
(167,920)
(11,508)
(73,826)
(129,827)
Net Issuance / (Repurchases) of Common Shares
(167,920)
(11,508)
(65,062)
(119,792)
Other Financing Activities
(29,292)
(61,379)
(58,749)
(7,951)
Cash from Financing Activities
(145,712)
1,035,613
(77,111)
(17,343)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash