CBZCBIZ, Inc.
Is the business good?
The checks split: 7 of 9 health tests passed and earnings fully cash-backed (2.1×), but margins compressing.
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CBZ?
CBIZ, Inc. earns 4.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 4.4 points below what the capital costs: growth destroys value
- Operating margin
- 7.0%
Operating margin · Specialty Business Services median 6.8% · 12 months to Q2 2026
- Cash conversion
- 2.08×
Cash conversion · 0.88× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −6.4%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 9.6% |
| FY2021 | 6.6% |
| FY2022 | 12% |
| FY2023 | 10% |
| FY2024 | 4.1% |
| FY2025 | 8.5% |
Details›
- Gross margin12 months to Q2 2026
- 12%
- Operating margin12 months to Q2 2026
- 7.0%
- Net margin12 months to Q2 2026
- 4.4%
- Revenue, trailing twelve months
- $2.77B
- Net income, trailing twelve months
- $122M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Specialty Business Services
Ranks #12 of 22 by RyuScore