Financials CBIZ, Inc.

Equities

CBZ

US1248051021

Business Support Services

Real-time Estimate Cboe BZX 11:38:31 2024-05-22 am EDT 5-day change 1st Jan Change
78.97 USD +0.52% Intraday chart for CBIZ, Inc. +1.94% +26.22%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,465 1,439 2,023 2,369 3,106 3,922 -
Enterprise Value (EV) 1 1,465 1,439 2,023 2,369 3,408 3,922 3,922
P/E ratio 21.4 x 18.9 x 29.6 x 23.3 x 26.2 x 28.8 x 25.3 x
Yield - - - - - - -
Capitalization / Revenue 1.54 x 1.49 x 1.83 x 1.68 x 1.95 x 2.28 x 2.17 x
EV / Revenue 1.54 x 1.49 x 1.83 x 1.68 x 1.95 x 2.28 x 2.17 x
EV / EBITDA 12.1 x 10.9 x 13.6 x 12.5 x 13.9 x 16.3 x 15 x
EV / FCF 17.4 x 10.6 x 16.6 x 20.2 x 23.8 x 27.4 x 24.1 x
FCF Yield 5.76% 9.4% 6.04% 4.96% 4.2% 3.65% 4.16%
Price to Book 2.29 x 2.1 x 2.98 x 3.44 x 4 x 4.75 x 4.32 x
Nbr of stocks (in thousands) 54,332 54,061 51,703 50,556 49,619 49,918 -
Reference price 2 26.96 26.61 39.12 46.85 62.59 78.56 78.56
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 948.4 963.9 1,105 1,412 1,591 1,720 1,810
EBITDA 1 120.6 132.1 148.5 190.1 223.8 240.8 262
EBIT 1 80.52 92.48 72.67 168.3 165.2 190.2 219.7
Operating Margin 8.49% 9.59% 6.58% 11.92% 10.38% 11.06% 12.14%
Earnings before Tax (EBT) 1 92.89 103.5 93.04 141.5 166.3 188.9 214
Net income 1 70.71 78.3 70.89 105.4 121 136.5 154.8
Net margin 7.46% 8.12% 6.42% 7.46% 7.6% 7.94% 8.55%
EPS 2 1.260 1.410 1.320 2.010 2.390 2.727 3.100
Free Cash Flow 1 84.31 135.3 122.2 117.5 130.5 143.2 162.9
FCF margin 8.89% 14.03% 11.06% 8.32% 8.2% 8.33% 9%
FCF Conversion (EBITDA) 69.92% 102.38% 82.29% 61.79% 58.29% 59.49% 62.2%
FCF Conversion (Net income) 119.23% 172.76% 172.34% 111.52% 107.84% 104.94% 105.26%
Dividend per Share - - - - - - -
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 242.8 391.7 362 363.3 295 454.6 398.5 410.5 327.5 494.3 430.4 442.4 352.5 511.2 446.9
EBITDA 1 -5.021 92.9 55.73 45.86 -4.351 113.3 54.44 61.56 -5.434 118.8 61.76 64.8 -3.314 125.3 70.67
EBIT 1 -18.39 85.11 61.29 41.35 -19.41 98 38.72 55.26 -26.74 99.1 50.32 53.85 -13.47 116.6 60.33
Operating Margin -7.57% 21.73% 16.93% 11.38% -6.58% 21.56% 9.72% 13.46% -8.16% 20.05% 11.69% 12.17% -3.82% 22.8% 13.5%
Earnings before Tax (EBT) 1 -13.58 77.45 43.88 36.6 -16.45 99.57 38.61 47.2 -19.07 104 48.71 51.93 -16.08 115.7 61.03
Net income 1 -9.62 58.13 31.26 27.47 -11.5 73.16 26.86 33.68 -12.74 76.88 34.18 36.68 -11.46 84.44 44.55
Net margin -3.96% 14.84% 8.64% 7.56% -3.9% 16.09% 6.74% 8.2% -3.89% 15.55% 7.94% 8.29% -3.25% 16.52% 9.97%
EPS 2 -0.1900 1.100 0.6000 0.5300 -0.2300 1.440 0.5300 0.6700 -0.2600 1.530 0.6833 0.7333 -0.2300 1.665 0.8150
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/17/22 4/28/22 7/28/22 10/27/22 2/16/23 4/27/23 7/27/23 10/26/23 2/15/24 4/25/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - 303 - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - 1.353 x - -
Free Cash Flow 1 84.3 135 122 117 130 143 163
ROE (net income / shareholders' equity) 11.3% 11.5% 12.7% 15.7% 16.4% 16.9% 18.4%
ROA (Net income/ Total Assets) 5.47% 5.38% 5.69% 6.35% 6.21% 6.6% 7.5%
Assets 1 1,292 1,456 1,247 1,658 1,947 2,068 2,064
Book Value Per Share 2 11.80 12.70 13.10 13.60 15.70 16.50 18.20
Cash Flow per Share - - - - - - -
Capex 1 13.9 11.6 8.98 8.64 23.1 12 12
Capex / Sales 1.46% 1.2% 0.81% 0.61% 1.45% 0.7% 0.66%
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
78.56 USD
Average target price
78 USD
Spread / Average Target
-0.71%
Consensus
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