CBIZ Inc
NYSE:CBZ
CBIZ Inc
CBIZ Inc. began its journey as a beacon of business services, steadily carving its niche since its inception. With firm roots in accounting, tax services, and insurance, CBIZ serves as a trusted partner for enterprises and individuals navigating the complexities of financial landscapes. The company expanded its footprint by accruing a series of complementary business services, flourishing into one of the most comprehensive professional service firms in the United States. It operates a diversified model, which enables it to harness various revenue streams while providing holistic support ranging from human resources solutions to risk management services. By positioning itself as a one-stop shop for financial and advisory services, CBIZ effectively addresses the dynamic needs of modern businesses.
At the core of CBIZ's financial success lies its strategic emphasis on cross-selling and integrated client solutions. By leveraging its expansive portfolio, the company can offer tailored services that go beyond simple financial consultancy. These interwoven capabilities drive a sustainable approach to growth, enhancing customer loyalty and opening doors to new opportunities. Its earnings are sourced primarily from a blend of transactional work and ongoing service agreements, ensuring a balance between immediate revenue and longer-term engagements. Furthermore, CBIZ thrives by capitalizing on its strategic acquisitions, which bolster its service offerings and geographical reach. This aggressive yet calculated expansion strategy has rendered CBIZ adaptable, keeping it resilient amid economic fluctuations and allowing it to meet the ever-evolving demands of its clientele with precision and expertise.
CBIZ Inc. began its journey as a beacon of business services, steadily carving its niche since its inception. With firm roots in accounting, tax services, and insurance, CBIZ serves as a trusted partner for enterprises and individuals navigating the complexities of financial landscapes. The company expanded its footprint by accruing a series of complementary business services, flourishing into one of the most comprehensive professional service firms in the United States. It operates a diversified model, which enables it to harness various revenue streams while providing holistic support ranging from human resources solutions to risk management services. By positioning itself as a one-stop shop for financial and advisory services, CBIZ effectively addresses the dynamic needs of modern businesses.
At the core of CBIZ's financial success lies its strategic emphasis on cross-selling and integrated client solutions. By leveraging its expansive portfolio, the company can offer tailored services that go beyond simple financial consultancy. These interwoven capabilities drive a sustainable approach to growth, enhancing customer loyalty and opening doors to new opportunities. Its earnings are sourced primarily from a blend of transactional work and ongoing service agreements, ensuring a balance between immediate revenue and longer-term engagements. Furthermore, CBIZ thrives by capitalizing on its strategic acquisitions, which bolster its service offerings and geographical reach. This aggressive yet calculated expansion strategy has rendered CBIZ adaptable, keeping it resilient amid economic fluctuations and allowing it to meet the ever-evolving demands of its clientele with precision and expertise.
Revenue Growth: CBIZ reported $543 million in Q4 revenue, up 18% year-over-year, and full-year revenue of $2.3 billion in its Financial Services segment, with total company revenue up 52% due to the Marcum acquisition and about 2% organic growth.
Profitability: Gross margin expanded by 250 basis points year-over-year, and adjusted EBITDA margin rose by 530 basis points, driven by synergies and lower incentive compensation.
Integration Progress: The Marcum integration is largely complete, with synergies delivered at double original expectations, positioning CBIZ for long-term growth.
2026 Outlook: Management guided for 2026 revenue between $2.8 and $2.9 billion (2% to 5% growth), adjusted EBITDA of $450–460 million, and free cash flow of $270–290 million.
AI & Automation: CBIZ is investing heavily in automation and AI, with over 60 professionals dedicated to this strategy and no current signs that AI adoption is pressuring demand or pricing.
Pricing: Mid-single digit price increases were realized in 2025 and are expected to continue into 2026.
Market Sentiment: Middle market client sentiment improved in the second half of 2025, and management expects better project-based activity in 2026.
