CBIZ (CBZ) AI Stock Analysis

• Market Cap: $1.51B
• Dividend Yield: N/A
• Average Volume (3M): 641.89K
• Price to Earnings (P/E): 18.0
• Beta (1Y): 0.97
• Revenue Growth: 59.19%
• EPS Growth: -35.47%
• Country: US
• Employees: 10,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): -0.70
• Shares Outstanding: 54,401,424
• 10 Day Avg. Volume: 591,514
• 30 Day Avg. Volume: 641,893
• PEG Ratio: 0.21
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 1.16
• P/FCF Ratio: 16.58
• Enterprise Value/Market Cap: 2.26
• Enterprise Value/Revenue: 1.24
• Enterprise Value/Gross Profit: 9.63
• Enterprise Value/Ebitda: 5.46
• 1Y Price Target: $40.00
• Price Target Upside: 46.63% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 3.85
• Revenue Forecast (FY): $2.90B

• Rating: 60 Neutral
• Price Target: $29.00 ▲(6.30% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

CBZ scores as moderately attractive primarily due to improved 2025 fundamentals (revenue, profitability vs 2024, lower leverage, and stronger free cash flow) and a generally positive earnings outlook tied to Marcum integration and synergies. The score is held back most by very bearish technicals (price far below key moving averages and negative MACD), while valuation is reasonable and the buyback extension provides a smaller incremental support.

Positive Factors

Acquisition integration & synergy upside

Integration of Marcum is largely on or ahead of schedule and management has raised synergy targets to $50M+, indicating durable revenue and cost benefits. A successful, well-executed integration increases scale, cross-sell opportunities, and long-term margin expansion potential across service lines.

Stronger cash generation / free cash flow rebound

A materially stronger FCF run-rate (~$192M) in 2025 shows improved cash conversion and earnings quality, providing durable funding for debt reduction, strategic investments, and buybacks. While FCF history is uneven, the 2025 step-up underpins long-term capital allocation flexibility if sustained.

Materially improved leverage and balance sheet

A sharp reduction in leverage to ~0.30 materially lowers financial risk and interest burden, improving resilience to downturns and enabling investment or further deleveraging. The stronger capital structure supports strategic initiatives and reduces refinancing pressure over the medium term.

Negative Factors

Compressed margins and earnings volatility

Despite a 2025 rebound, margins remain meaningfully below prior peaks and net income has been uneven year-to-year. Sustained margin compression suggests structural cost or pricing pressures in core services, making durable profitability and EPS growth more uncertain absent sustained synergy realization or pricing power.

Higher interest expense from acquisition funding

Elevated interest expense is a persistent headwind from acquisition-related debt, reducing net income and free cash flow. Until leverage and interest costs decline, higher financing costs constrain reinvestment, share repurchases, and margin recovery, affecting durable profitability over multiple quarters.

Softness in Benefits & Insurance segment

The Benefits & Insurance business is showing weak, low-single-digit growth due to a soft P&C market and discretionary spending, limiting diversification and recurring margin contribution. Prolonged underperformance here would slow overall margin recovery and make revenue less resilient across cycles.

CBIZ Business Overview & Revenue Model

Company Description

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 Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services. The Benefits and Insurance Services provides employee benefits consulting, payroll/human capital management, property and casualty insurance, and retirement and investment services. The National Practices segment offers information technology managed networking and hardware, and health care consulting services. It primarily serves small and medium-sized businesses, as well as individuals, governmental entities, and not-for-profit enterprises. The company was incorporated in 1987 and is headquartered in Cleveland, Ohio.

How the Company Makes Money

CBIZ generates revenue primarily through the provision of professional services, which include accounting, tax advisory, payroll services, and employee benefits. The company operates on a fee-for-service model, where clients are charged based on the specific services rendered. Key revenue streams include consulting services, managed services, and insurance brokerage commissions. Additionally, CBIZ benefits from long-term relationships with clients, which often lead to recurring revenue through ongoing service engagements. The company also capitalizes on strategic partnerships with financial institutions and technology providers to enhance its service offerings and expand its market reach.

CBIZ Financial Statement Overview

Summary

Financials show a strong 2025 rebound: sharply higher revenue, improved profitability vs 2024, materially lower leverage, and a step-up in operating/free cash flow. Offsetting this, margins remain compressed versus 2020–2023 and results have been uneven across years, keeping the profile solid but not top-tier.

Income Statement

Revenue growth has been positive across the period and accelerated sharply in 2025 (annual revenue up to ~$2.76B from ~$1.81B in 2024). Profitability improved in 2025 versus 2024 (net margin ~4.2% vs ~2.3% and EBITDA margin ~8.5% vs ~7.7%), but margins remain well below 2020–2023 levels, and the multi-year trend shows meaningful compression from 2022–2023 peaks. Net income in 2025 (~$115M) rebounded strongly from 2024 (~$41M), yet still does not clearly exceed the stronger earnings year in 2023 (~$121M), highlighting some volatility.

Balance Sheet

Leverage looks conservative in 2025 with debt-to-equity around 0.30 (down materially from ~1.03 in 2024), suggesting a significantly improved capital structure. Equity is sizable (~$1.76B) and return on equity improved in 2025 (~6.6%) from a weak 2024 (~2.3%), though it remains below the 2021–2023 range (roughly ~10%–15%). Overall balance sheet risk appears moderate-to-low in the latest year, but the sharp year-over-year leverage swing warrants monitoring.

Cash Flow

Cash generation strengthened in 2025 with operating cash flow and free cash flow both at ~$192M, up from operating cash flow of ~$124M and free cash flow of ~$111M in 2024. Free cash flow was strong relative to earnings in 2025 (about in line with net income), indicating solid earnings quality in the latest year. However, free cash flow growth has been uneven over time (declines in 2021, 2022, and 2024), so while the 2025 rebound is notable, consistency is still a key watch item.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.76B	1.81B	1.59B	1.41B	1.10B
Gross Profit	355.39M	182.47M	223.20M	223.37M	159.29M
EBITDA	234.01M	140.25M	222.70M	182.41M	123.96M
Net Income	115.44M	41.04M	120.97M	105.35M	70.89M
Balance Sheet
Total Assets	4.41B	4.47B	2.04B	1.93B	1.67B
Cash, Cash Equivalents and Short-Term Investments	18.29M	13.83M	8.09M	33.18M	32.38M
Total Debt	528.86M	1.83B	551.01M	474.47M	331.25M
Total Liabilities	2.65B	2.69B	1.25B	1.21B	968.17M
Stockholders Equity	1.76B	1.78B	791.62M	713.45M	704.55M
Cash Flow
Free Cash Flow	192.49M	110.78M	130.46M	117.49M	122.17M
Operating Cash Flow	192.49M	123.69M	153.51M	126.13M	131.15M
Investing Cash Flow	-15.85M	-1.13B	-79.39M	-99.12M	-82.01M
Financing Cash Flow	-145.71M	1.04B	-77.11M	-17.34M	-69.00M

CBIZ Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 27.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBZ, the sentiment is Negative. The current price of 27.28 is below the 20-day moving average (MA) of 33.12, below the 50-day MA of 43.58, and below the 200-day MA of 57.51, indicating a bearish trend. The MACD of -4.72 indicates Positive momentum. The RSI at 22.63 is Positive, neither overbought nor oversold. The STOCH value of 8.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CBZ.

CBIZ Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UNF	77 Outperform	$4.05B	30.83	6.50%	0.71%	0.20%	2.72%
ABM	73 Outperform	$2.58B	16.97	9.10%	2.20%	4.62%	102.72%
LZ	66 Neutral	$1.10B	77.70	11.64%	―	7.17%	-5.86%
MMS	64 Neutral	$4.00B	11.15	22.09%	1.38%	2.36%	11.30%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CBZ	60 Neutral	$1.51B	17.96	7.44%	―	59.19%	-35.47%
FA	51 Neutral	$1.58B	-11.35	-12.48%	―	93.41%	-2515.85%

CBIZ Corporate Events

CBIZ Extends Share Repurchase Program Through 2027

On February 11, 2026, CBIZ, Inc.’s board of directors authorized the continuation of its long-running share repurchase program, setting a limit of up to 5 million shares of common stock to be bought back through March 31, 2027. The authorization replaces the prior program approved in February 2025 and permits purchases in the open market, through privately negotiated deals, and via Rule 10b5-1 trading plans, including transactions with employees, executives, directors, and certain former Marcum LLP partners.

The program, which can be suspended at any time and does not require CBIZ to repurchase a specific number of shares, is subject to the constraints of the company’s current or future credit facilities. CBIZ plans to fund any buybacks using operating cash flows and borrowings under its credit facility, underscoring an ongoing capital allocation strategy that may support earnings per share and signal confidence in the company’s financial position to investors.

The most recent analyst rating on (CBZ) stock is a Hold with a $42.00 price target. To see the full list of analyst forecasts on CBIZ stock, see the CBZ Stock Forecast page.

CBIZ Announces Planned Transition of Financial Services President

On January 14, 2026, CBIZ, Inc. reported that Chris Spurio will step down from his role as President of Financial Services effective January 31, 2026. The company expects Spurio to continue contributing in a consulting capacity through December 31, 2026, signaling a managed leadership transition designed to retain his expertise during the changeover period.

The most recent analyst rating on (CBZ) stock is a Hold with a $59.00 price target. To see the full list of analyst forecasts on CBIZ stock, see the CBZ Stock Forecast page.