CBZ at a glance
CBIZ, Inc. (CBZ, SEC CIK 944148) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on July 29, 2026 and Form 4 insider filings as recently as September 21, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), CBIZ, Inc. (CBZ) reported revenue of $2.8 billion (up 52.1% from FY2024) and net income of $115.4 million. Diluted EPS was $1.83.
- As of June 30, 2026, 30 institutional investment managers tracked by SignalX reported holding CBIZ, Inc. (CBZ) shares worth $801.0 million in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $2.8B
- +52.1% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 30 funds
- $801.0M · +2 vs prior quarter
- Latest 8-K
- Jul 29, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Multi-disciplinary professional services advisor offering accounting, tax, advisory, benefits, insurance, and technology solutions to middle-market businesses
- Increased Financial Services revenue to $2.30B (83.4% of total), up from $1.36B in 2024, driven by strategic acquisitions and expanded CPA firm partnerships
- Human capital focus with 9,500+ employees across 140+ locations, 2025 award recognition includes 120 workplace awards highlighting culture and talent retention
- Maintains ASAs with four CPA firms including CBIZ CPAs (421 stockholders) and MSLC (43 equity members), consolidating variable interest entities for accounting purposes
- Completed one immaterial acquisition in Q4 2025 continuing growth by acquisition strategy targeting geographic expansion and service expertise
Risk Factors
- Regulatory risk: Independence and attestation service restrictions under Sarbanes-Oxley, SEC, and PCAOB rules limiting services to SEC-reporting attest clients, with CBIZ CPAs now subject to PCAOB inspection
- Macroeconomic threat: Economic downturn causing slower accounts receivable payments, risking liquidity, with professional services historically having high receivable days outstanding
- Operational vulnerability: Integration risks from Marcum acquisition including potential underestimated liabilities and challenges in integrating attest and non-attest business assets
- Competitive disruption: Increased SEC-reporting attest clients raises regulatory scrutiny and independence challenges, potentially reducing revenues due to required service terminations
- Financial risk: Goodwill and intangible assets of $2.87 billion as of December 31, 2025, subject to impairment risk leading to significant non-cash charges impacting earnings
Management Discussion & Analysis
- Revenue $2,758.0M in 2025, up 52.1% ($944.5M) YoY; Financial Services best growth, up 68.9% to $2,301.5M; National Practices down 6.0% to $46.9M
- Operating margin improved to 9.3% in 2025 from 5.2% in 2024; Financial Services margin 14.6% vs 10.9%; Benefits and Insurance margin stable at ~18.3%
- Net income $115.4M in 2025, up 181.3% from $41.0M in 2024; EPS $1.83 vs $0.78 in 2024
- Cash flow from operations $192.5M up from $123.7M; Share repurchases $168.8M total in 2025; Capex $17.0M; Debt $1,472.4M outstanding as of Dec 31, 2025
- Management authorized share repurchase program for up to 5.0M shares, with focus on debt reduction to net leverage 2.0x–2.5x and strategic acquisitions
AI summary of the CBZ 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Proposed $55.00-per-share cash merger announced July 28, 2026
- Two reportable segments: Financial Services and Benefits and Insurances Services
- Quarterly revenue, YoY change, margins, and segment performance not provided
- Cash position, operating cash flow, and capital deployment not provided
Risk Factors
- Proposed Merger risk newly added, triggered by July 28, 2026 Merger Agreement
- Completion risk, requiring regulatory approvals, shareholder approval, and absence of prohibiting laws or orders
- Regulatory compliance risk, up to 481,049 ESPP shares purchased beyond registered plan capacity
- Operational risk, merger uncertainty potentially causing employee attrition and customer decision delays
- Financial risk, merger termination fee obligation potentially discouraging favorable alternative transactions
AI summary of the CBZ 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item EX-99.1: Item EX-99.1
- Q2 revenue $682M, down 0.2%, while net income fell 55.6% to $19M and adjusted EBITDA declined 14.3% to $103M
- First-half revenue rose 0.6% to $1,531M; net income increased 4.1% to $171M despite adjusted EBITDA declining 3.8%
Item 2.02: Results of Operations and Financial Condition
- Q2 and first-half 2026 financial results announced for periods ended June 30, 2026
- Press release furnished as Exhibit 99.1, containing the detailed financial results
Item 8.01: Other Events
- Up to 481,049 ESPP shares affected; rescission offer planned for third quarter 2026
- Maximum rescission payments approximately $20.2 million, plus tax reimbursement and third-party expenses
Item 7.01: Regulation FD Disclosure
- Exhibit 99.1 furnished under Regulation FD, with disclosure details contained in the attached exhibit
- Information not deemed “filed” under Exchange Act Section 18, limiting associated liability
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Change-in-control severance plan adopted July 28, 2026 alongside merger agreement
- CEO eligible for 3x annual compensation; other NEOs eligible for 2x
Item EX-99.1: Item EX-99.1
- Grant Thornton Advisors to acquire CBIZ for $5B enterprise value in an all-cash transaction
- CBIZ shareholders to receive $55 per share, approximately 54% premium to the 30-day VWAP
Item 1.01: Entry into a Material Definitive Agreement
- $55.00-per-share cash acquisition; CBIZ becomes a wholly owned subsidiary of Viking ParentCo
- $5.2B committed financing from New Mountain Partners VII and other sources supports transaction funding
AI summaries of CBZ 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CBZ
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Lakhia Brad S. | F | Sep 17, 2026 | 5,813 | $54.60 |
| SHERMAN A HAAG | F | Aug 4, 2026 | 22,354 | $55.07 |
| SHERMAN A HAAG | M | Aug 4, 2026 | 50,000 | $24.62 |
| SHERMAN A HAAG | M | Aug 4, 2026 | 50,000 | - |
| France Gina D | A | May 15, 2026 | 6,051 | - |
| Lakhia Brad S. | F | Mar 17, 2026 | 1,647 | $26.49 |
| GRISKO JEROME P | G | Mar 13, 2026 | 5,429 | - |
| GRISKO JEROME P | G | Mar 13, 2026 | 38,595 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $1.8B | $2.8B |
| Gross Profit | - | $182.5M | $355.4M |
| Operating Income | - | $73.7M | $234.0M |
| Net Income | - | $41.0M | $115.4M |
| Gross Margin | - | 10.1% | 12.9% |
| Op. Margin | - | 4.1% | 8.5% |
| Net Margin | - | 2.3% | 4.2% |
| Balance Sheet | |||
| Total Assets | $2.0B | $4.5B | $4.4B |
| Equity | $791.6M | $1.8B | $1.8B |
| ROE | - | 2.3% | 6.6% |
| Per Share | |||
| EPS | - | $0.78 | $1.83 |
| Cash Flow | |||
| Operating CF | - | $123.7M | $192.5M |
| CapEx | - | $12.9M | $17.0M |
Source: XBRL data in CBIZ, Inc. (CBZ)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate CBZ share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 30 | $801.0M |
| Q1 2026 | 28 | $649.5M |
| Q4 2025 | 25 | $1.18B |
| Q3 2025 | 27 | $1.11B |
| Q2 2025 | 27 | $1.47B |
| Q1 2025 | 24 | $1.14B |
| Q4 2024 | 19 | $877.9M |
| Q3 2024 | 18 | $299.3M |
- BlackRock+1.16M (+30%)
- FMR LLC (Fidelity)+536.2K (+7%)
- AQR Capital Management+463.8K (+189%)
- Vanguard Portfolio Management LLC+180.9K (+9%)
- Vanguard Capital Management LLC+113.4K (+5%)
- Morgan Stanley−515.9K (-26%)
- Bank of America Corp−206.0K (-48%)
- Two Sigma Investments−192.3K (-58%)
- JPMorgan Chase & Co−176.9K (-79%)
- D.E. Shaw & Co−156.0K (-58%)
- Citizens Financial Group+19.9K
- Allstate+12.1K
- Bridgewater Associates LP+11.1K
- Millennium Management−464.6K
Source: 13F-HR filings on SEC EDGAR (aggregated from 198 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CBZ filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 21, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 4 | May 19, 2026 | - | - | |
| 8-K | May 15, 2026 | - | Analysis | |
| SC 13G | May 13, 2026 | - | - | |
| 10-Q | Apr 30, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 29, 2026 | - | Analysis | - |
| 4 | Mar 19, 2026 | - | - | - |
| 4 | Mar 17, 2026 | - | - | - |
| 4 | Mar 17, 2026 | - | - | - |
| 4 | Mar 17, 2026 | - | - | - |
| 4 | Mar 11, 2026 | - | - | - |
| 4 | Mar 10, 2026 | - | - | - |
| 4 | Mar 10, 2026 | - | - | - |
| 4 | Mar 10, 2026 | - | - | - |
| 4 | Mar 10, 2026 | - | - | - |
| 10-K | Feb 26, 2026 | Dec 31, 2025 | Analysis | |
| 8-K | Feb 25, 2026 | - | Analysis | - |
| 4 | Feb 17, 2026 | - | - | |
| 4 | Feb 17, 2026 | - | - | |
| 4 | Feb 17, 2026 | - | - |
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CBZ SEC filings: frequently asked questions
Which institutions hold CBZ stock?
As of June 30, 2026, the largest CBIZ, Inc. (CBZ) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($258.2 million), BlackRock ($159.5 million), Vanguard Capital Management LLC ($72.5 million), Vanguard Portfolio Management LLC ($72.3 million), Morgan Stanley ($47.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CBZ's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), CBIZ, Inc. (CBZ) reported revenue of $2.8 billion (up 52.1% from FY2024) and net income of $115.4 million. Diluted EPS was $1.83. The figures come from the XBRL data in the 10-K.
What are the main risks in CBZ's latest 10-K?
In the 10-K filed February 26, 2026, CBIZ, Inc. (CBZ) flagged: Regulatory risk: Independence and attestation service restrictions under Sarbanes-Oxley, SEC, and PCAOB rules limiting services to SEC-reporting attest clients, with CBIZ CPAs now subject to PCAOB inspection. Macroeconomic threat: Economic downturn causing slower accounts receivable payments, risking liquidity, with professional services historically having high receivable days outstanding. (AI summary of the Risk Factors section.)
What did CBZ report in its latest 8-K?
CBIZ, Inc. (CBZ) filed an 8-K on July 29, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 revenue $682M, down 0.2%, while net income fell 55.6% to $19M and adjusted EBITDA declined 14.3% to $103M.
What are the latest CBZ SEC filings?
CBIZ, Inc. (CBZ) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on July 29, 2026 and a Form 4 insider filing on September 21, 2026.
What is CBZ's SEC CIK number?
CBIZ, Inc. (CBZ)'s SEC Central Index Key (CIK) is 944148. EDGAR lists every CBZ filing under that number.
Ask anything about CBZ
The research agent reads CBZ's filings, financials, insider trades and 13F holders, then answers with sources.