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CBIZ, Inc. (CBZ) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Information Technology
Services-Business Services, NECSEC EDGAR
CBIZ, Inc. Overview

CBIZ, Inc. (CBZ) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

CBIZ, Inc. FY2025 10-K Analysis

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
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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%
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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
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CBIZ, Inc. FY2025 Key Financial Metrics
XBRL

Revenue

$2.8B

▲ +52.1% YoY

Net Income

$115M

▲ +181.3% YoY

Gross Margin

12.9%

▲ +282bp YoY

Operating Margin

8.5%

▲ +442bp YoY

Net Margin

4.2%

▲ +192bp YoY

ROE

6.6%

▲ +425bp YoY

Total Assets

$4.4B

▼ -1.4% YoY

EPS (Diluted)

$1.83

▲ +134.6% YoY

Operating Cash Flow

$192M

▲ +55.6% YoY

Source: XBRL data from CBIZ, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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