CBIZ (CBZ) financial statements
CBIZ reported revenue of $2.8B in fiscal 2025, up 14.7% a year over 9 years.
Net income was $115M and the operating margin 8.5%, against 8.2% in 2016.
Free cash flow was $176M, and the company returned $160M in net buybacks.
The diluted share count rose 18% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CBIZ's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $800M | $855M | $922M | $948M | $964M | $1.1B | $1.4B | $1.6B | $1.8B | $2.8B |
| Cost of revenue | $698M | $756M | $790M | $823M | $825M | $946M | $1.2B | $1.4B | $1.6B | $2.4B |
| Gross profit | $102M | $100M | $132M | $125M | $139M | $159M | $223M | $223M | $182M | $355M |
| Selling, general and admin | $36M | $33M | $39M | $44M | $46M | $56M | $55M | $58M | $109M | $121M |
| Operating income | $66M | $66M | $93M | $81M | $92M | $73M | $168M | $165M | $74M | $234M |
| Interest expense | $7M | $7M | $7M | $6M | $5M | $4M | $8M | $20M | $34M | $107M |
| Pre-tax income | $67M | $74M | $80M | $93M | $103M | $93M | $141M | $166M | $58M | $161M |
| Income tax | $26M | $23M | $18M | $22M | $25M | $22M | $36M | $45M | $17M | $45M |
| Net income | $40M | $50M | $62M | $71M | $78M | $71M | $105M | $121M | $41M | $115M |
| EPS (diluted) | $0.75 | $0.91 | $1.09 | $1.26 | $1.41 | $1.32 | $2.01 | $2.39 | $0.78 | $1.83 |
| Diluted shares | 54M | 56M | 56M | 56M | 55M | 54M | 52M | 51M | 53M | 63M |
| Gross margin | 12.8% | 11.7% | 14.3% | 13.2% | 14.4% | 14.4% | 15.8% | 14.0% | 10.1% | 12.9% |
| Operating margin | 8.2% | 7.8% | 10.0% | 8.5% | 9.6% | 6.6% | 11.9% | 10.4% | 4.1% | 8.5% |
| Net margin | 5.0% | 5.9% | 6.7% | 7.5% | 8.1% | 6.4% | 7.5% | 7.6% | 2.3% | 4.2% |
Balance sheet
Fiscal years, from CBIZ's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3M | $424,000 | $640,000 | $567,000 | $5M | $2M | $5M | $8M | $14M | $18M |
| Receivables | $175M | $188M | $207M | $222M | $216M | $242M | $334M | $380M | $535M | $556M |
| Total current assets | $442M | $448M | $424M | $456M | $436M | $452M | $568M | $613M | $836M | $899M |
| Property, plant and equipment | $19M | $26M | $34M | $39M | $41M | $43M | $45M | $57M | $88M | $81M |
| Goodwill | $487M | $528M | $564M | $588M | $683M | $741M | $820M | $865M | $2.3B | $2.3B |
| Total assets | $1.1B | $1.2B | $1.2B | $1.4B | $1.5B | $1.6B | $1.9B | $2.0B | $4.5B | $4.4B |
| Total current liabilities | $339M | $334M | $321M | $366M | $378M | $423M | $512M | $512M | $706M | $736M |
| Long-term debt | $190M | $178M | $134M | $104M | $107M | $155M | $264M | $311M | $1.3B | $1.4B |
| Total liabilities | $639M | $645M | $589M | $742M | $811M | $923M | $1.2B | $1.3B | $2.7B | $2.6B |
| Shareholders' equity | $480M | $531M | $594M | $659M | $703M | $705M | $713M | $792M | $1.8B | $1.8B |
| Net debt | $187M | $177M | $133M | $104M | $103M | $153M | $259M | $303M | $1.4B | $1.4B |
Cash flow
Fiscal years, from CBIZ's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $74M | $77M | $105M | $98M | $147M | $131M | $126M | $154M | $124M | $192M |
| Capital spending | $4M | $12M | $15M | $14M | $12M | $9M | $9M | $23M | $13M | $17M |
| Free cash flow | $70M | $65M | $91M | $84M | $135M | $122M | $117M | $130M | $111M | $176M |
| Stock-based compensation | $6M | $6M | $7M | $7M | $9M | $11M | $15M | $12M | $14M | $26M |
| Share buybacks (net) | -$9M | -$20M | -$17M | -$27M | -$56M | -$97M | -$123M | -$65M | $0 | -$160M |
| Free cash flow margin | 8.7% | 7.6% | 9.8% | 8.9% | 14.0% | 11.1% | 8.3% | 8.2% | 6.1% | 6.4% |
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Open CBZ in InvestinglyQuestions
What was CBIZ's revenue in 2025?
$2.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does CBIZ generate?
$176M in fiscal 2025 (operating cash flow minus capital spending).
From CBIZ's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.