CBIZ, Inc.

CBIZ maintains a capital structure characterized by significant leverage, with long-term debt of $1.39 billion and short-term debt of $66.4 million against total equity of $1.76 billion. The debt-to-equity ratio stands at 0.83, while the current ratio is 1.22, indicating liquidity that is close to the minimum comfort range. Cash and equivalents are minimal at $18.3 million, resulting in a negative net cash position after subtracting total debt. The diluted share count of 63.24 million is materially higher than the basic share count of 54.38 million, signaling high dilution risk from stock-based compensation or other equity issuances.

Profitability metrics show a net income of $115.4 million on revenue of $2.76 billion, yielding a net margin of approximately 4.2%. Return on equity is 6.55% and return on assets is 2.62%, which are modest returns for a professional services firm. The operating income of $234.0 million suggests operational leverage, but the gross profit of $355.4 million indicates a low gross margin structure typical of labor-intensive service businesses. The price-to-earnings ratio of 30.0 and EV/EBITDA of 14.75 reflect a premium valuation relative to the modest returns on capital.

CBIZ, Inc. (CBZ) experienced a modest contraction in its estimated market share, which declined by approximately 3.04% from 0.0314% to 0.0304%. This adjustment was part of a broader revision to the company's analytical narrative and conclusion, reflecting a moderate severity change in the underlying assessment of its competitive positioning. The shift in market share metrics suggests a slight recalibration of CBIZ's standing within its industry sector. While the absolute percentage remains small, the downward movement indicates a nuanced change in how the company's footprint is perceived relative to the total addressable market. These updates were driven by a revision in the analytical thesis, which resulted in a significant divergence from prior assessments, as indicated by a low similarity score of 0.394 between the old and new narratives. This implies that the factors influencing CBIZ's market position have been re-evaluated, leading to a distinct shift in the analytical outlook. Despite these analytical adjustments, the core structural data for CBIZ remains stable, with the company maintaining a top holder count of 29. The absence of new watcher signals or cross-source alerts suggests that this change is primarily an internal refinement of the analytical model rather than a reaction to external market shocks or new corporate events.

CBIZ operates with an 8.5% operating margin, significantly exceeding the 4.9% median for its transaction processing services cohort.

The company demonstrates strong cash conversion at 1.67, placing it above the 75th percentile of its peer group.

Total assets grew at a robust 47.9% compound annual growth rate over the last five periods.

The firm generated $175.5 million in free cash flow for fiscal year 2025, supporting liquidity needs.

The company faces high dilution, liquidity, and credit risks, indicating significant financial instability and potential shareholder value erosion.

Long-term debt surged to $1.39 billion in fiscal 2025, reflecting a substantial increase in leverage obligations.

The company reports negative tangible book value of -$567.7 million, suggesting equity impairment relative to tangible assets.

Revenue $2.22B; Operating income $319.2M.

• ▍Revenue $2.22B
• ▍Operating income $319.2M
• ▍Net margin 8.8%

Revenue $1.52B; Operating income $260.3M.

• ▍Revenue $1.52B
• ▍Operating income $260.3M
• ▍Net margin 10.8%

Revenue $838.0M; Operating income $200.0M.

• ▍Revenue $838.0M
• ▍Operating income $200.0M
• ▍Net margin 14.7%

Revenue $2.76B; Operating income $234.0M.

• ▍Revenue $2.76B
• ▍Operating income $234.0M
• ▍Net margin 4.2%

Revenue $1.81B; Operating income $73.7M.

• ▍Revenue $1.81B
• ▍Operating income $73.7M
• ▍Net margin 2.3%

Revenue $1.81B; Operating income $73.7M.

• ▍Revenue $1.81B
• ▍Operating income $73.7M
• ▍Net margin 2.3%

Revenue $1.59B; Operating income $165.2M.

• ▍Revenue $1.59B
• ▍Operating income $165.2M
• ▍Net margin 7.6%

Revenue $1.59B; Operating income $165.2M.

• ▍Revenue $1.59B
• ▍Operating income $165.2M
• ▍Net margin 7.6%