CBIZ, Inc.

Listed Company

CBZCIK 0000944148NYSELarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.76B

Net Income

$115.44M

Total Assets

$4.41B

Equity

$1.76B

Shares Out

53.65B

Op. Cash Flow

$192.49M

Business

CBIZ, Inc. is a professional services advisor serving middle-market businesses and organizations nationwide. It provides accounting and tax, financial advisory, employee benefits consulting, payroll and human capital management, property and casualty insurance brokerage, retirement and investment services, and technology offerings such as cloud, cybersecurity, infrastructure and managed networking. The company operates through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. CBIZ delivers services via a national network of offices and direct client engagements, including long-term managed services contracts.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,758	1,813	1,591	1,412	1,105
Operating expenses	2,403	1,631	1,368	1,189	946
Gross margin	355	182	223	223	159
Corporate general and administrative expenses	121	109	58	55	56
Operating income	234	74	165	168	73
Interest expense	−107	−34	−20	−8	—
Gain on sale of operations, net	711,000	5	176,000	413,000	6
Other income, net	33	14	21	−19	18
Total other income (expense), net	−73	−16	1	−27	20
Income before income tax expense	161	58	166	141	93
Provision for income taxes	45	17	45	36	22
Net income	115	41	121	105	71
Basic (in dollars per share)	1.84	0.78	2.42	2.05	1.35
Diluted (in dollars per share)	1.83	0.78	2.39	2.01	1.32
Basic weighted average common shares outstanding (in shares)	63	52	50	52	53
Diluted weighted average common shares outstanding (in shares)	63	53	51	52	54
Net unrealized gain on available-for-sale securities, net of income tax expense of $88, $182 and $403	222,000	457,000	1	−1	−478,000
Net unrealized loss on interest rate swaps, net of income tax benefit of $1,568, $287 and $952	−5	−989,000	−3	6	2
Foreign currency translation	−18,000	−27,000	−18,000	−24,000	−19,000
Total other comprehensive loss	−5	−559,000	−2	5	1
Total comprehensive income	111	40	119	110	72

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	14	8	5	2
Restricted cash	38	39	30	28	30
Accounts receivable, net	556	535	380	334	242
Other current assets	80	73	35	29	19
Current assets before funds held for clients	692	660	453	397	294
Funds held for clients	207	176	159	171	158
Total current assets	899	836	613	568	452
Property and equipment, net	81	88	57	45	43
Goodwill and other intangible assets, net	2,870	2,945	1,009	952	841
Assets of deferred compensation plan	187	167	144	119	136
Right-of-use asset	334	394	211	184	151
Other non-current assets	38	41	11	11	5
Total non-current assets	3,510	3,635	1,431	1,311	1,176
Total assets	4,410	4,471	2,044	1,879	1,628
Accounts payable	91	91	83	81	66
Income taxes payable	11	0	2	2	2
Accrued personnel costs	198	173	134	130	114
Contingent purchase price liability	30	61	66	63	34
Lease liability	65	61	36	36	31
Total short-term debt	66	66	0	—	—
Other current liabilities	68	79	31	27	19
Current liabilities before client fund obligations	529	530	352	339	265
Client fund obligations	207	176	160	173	158
Total current liabilities	736	706	512	512	423
Total long-term debt	1,390	1,334	311	264	155
Income taxes payable	3	2	2	2	2
Deferred income taxes, net	7	11	29	25	15
Deferred compensation plan obligations	187	167	144	119	136
Contingent purchase price liability	10	36	49	69	45
Lease liability	308	373	204	174	146
Other non-current liabilities	7	63	2	573,000	1
Total non-current liabilities	1,912	1,985	740	653	500
Total liabilities	2,647	2,691	1,252	1,166	923
Common stock, par value $0.01 per share; shares authorized 250,000; shares issued 144,654 and 137,945; shares outstanding 54,380 and 50,198	1	1	1	1	1
Additional paid-in capital	1,831	1,792	832	799	770
Retained earnings	1,012	896	855	734	629
Treasury stock, 90,274 and 87,747 shares	−1,079	−911	−899	−825	−695
Accumulated other comprehensive (loss) income	−3	1	2	4	−967,000
Total stockholders equity	1,762	1,780	792	713	705
Total liabilities and stockholders equity	4,410	4,471	2,044	1,879	1,628

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	98	48	36	33	27
Bad debt expense, net of recoveries	7	4	2	1	3
Adjustment to contingent earnout liability, net	3	7	3	2	2
Deferred income taxes	5	−9	11	14	9
Stock-based compensation expense	26	14	12	15	11
Amortization of deferred financing fees	5	1	472,000	—	—
Other, net	5	−1	−3	−2	−150,000
Accounts receivable, net	−27	48	−36	−61	−17
Other assets	−23	3	−7	−12	3
Accounts payable	443,000	−19	2	14	3
Income taxes payable	17	−8	−6	−6	−4
Accrued personnel costs	14	−6	3	24	25
Other liabilities	−53	5	15	−2	3
Net cash provided by operating activities	192	124	154	126	131
Business acquisitions and purchases of client lists, net of cash acquired	−2	−1,088	−53	−79	−67
Purchases of client fund investments	−43	−23	−14	−20	−27
Proceeds from the sales and maturities of client fund investments	40	22	18	12	15
Proceeds from sales of assets and divested operations	2	7	3	3	10
Change in funds held for clients	−305,000	0	0	—	—
Additions to property and equipment	−17	−13	−23	−9	−9
Other, net	5	−35	−11	−7	−4
Net cash used in investing activities	−16	−1,129	−79	−99	−82
Proceeds from bank debt	1,480	2,488	1,224	0	852
Payments of bank debt	−1,429	−1,379	−1,177	−715	—
Deferred financing costs	−983,000	−21	0	−2	—
Payment for acquisition of treasury stock	−160	0	−65	−123	−97
Indirect repurchase of shares for minimum tax withholding	−8	−12	−8	−7	−3
Changes in client funds obligations	31	16	−14	15	−9
Payment of contingent consideration of acquisitions and client lists	−59	−57	−45	−21	−14
Proceeds from exercise of stock options	0	0	9	10	7
Other, net	−437,000	0	0	−2	−171,000
Net cash provided by (used in) financing activities	−146	1,036	−77	−17	−69
Net increase (decrease) in cash, cash equivalents and restricted cash	31	30	−3	10	−20
Cash paid for interest	105	26	19	7	3
Cash paid for income taxes, net of income tax refunds	24	38	40	28	17

Filings

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