The strong 2025 results and raised 2026 guidance indicate successful integration of the Marcum acquisition. The significant share buyback program ($668M total) suggests management confidence and could support the stock price. Monitor 2026 execution on free cash flow conversion (60% of EBITDA) and AI/offshoring initiatives.
Price Chart
Executive Summary
CBIZ reported strong 2025 full-year results with revenue up 52.1% and adjusted EPS up 79.6%, primarily due to the acquisition and integration of Marcum. The company raised its 2026 outlook for revenue, profitability, and free cash flow, while repurchasing $168M in shares and authorizing an additional $500M buyback. Despite a net loss in Q4 due to integration costs, the company is positioned for continued growth.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue: $2.76B, up 52.1% YoY
- Full-year 2025 adjusted EPS: $3.61, up 79.6% YoY
- 2026 revenue guidance: $2.8B-$2.9B (2-5% growth)
- 2026 adjusted EPS guidance: $3.75-$3.85 (up from $3.61)
- Repurchased 2.5M shares for $168M, with additional $500M authorization
- Free cash flow guidance for 2026: $270M-$290M (up from $176M)
Financial Impact
Revenue growth of 52.1% and EPS growth of 79.6% in 2025, with 2026 guidance showing continued growth of 2-5% in revenue and improved profitability
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Financial Services | $2.3B | +68.9% |
| Benefits and Insurance Services | $409.6M | +2.1% |
| National Practices | $46.9M | -6.0% |
Risk Factors
- Q4 net loss of $79.4M indicates ongoing integration costs
- Guidance is based on low-to-mid single digit growth, which is modest
- Heavy reliance on successful integration of Marcum acquisition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000944148-26-000035 |
| Document: cbz-20260225.htm | 0000944148-26-000035 |
| Document: 0000944148-26-000035-index-headers.html | 0000944148-26-000035 |
| Document: 0000944148-26-000035-index.html | 0000944148-26-000035 |
| Document: 0000944148-26-000035.txt | 0000944148-26-000035 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $54.89 $54.94 | ▲ +0.09% | ▲ +0.61% | $54.80 (−0.16%) |
Oct 19, 2026 8d ago | 8-K | $54.78 $54.89 | ▲ +0.20% | ▼ −0.13% | $54.80 (+0.04%) |
Oct 19, 2026 8d ago | Press Release | $54.78 $54.89 | ▲ +0.20% | ▼ −0.13% | $54.80 (+0.04%) |
Aug 6, 2026 11w ago | S-3ASR | $54.49 $54.50 | ▲ +0.02% | ▼ −0.59% | $54.80 (+0.57%) |
Jul 31, 2026 12w ago | DEFA14A | $55.08 $55.07 | ▼ −0.02% | ▼ −1.44% | $54.80 (−0.51%) |
Jul 29, 2026 12w ago | DEFA14A | $55.25 $55.08 | ▼ −0.31% | ▼ −1.01% | $54.80 (−0.81%) |
Jul 29, 2026 12w ago | DEFA14A / 8-K | $54.90 $55.25 | ▲ +0.64% | ▼ −1.04% | $54.80 (−0.18%) |
Jul 29, 2026 12w ago | 8-K | $54.90 $55.25 | ▲ +0.64% | ▼ −1.04% | $54.80 (−0.18%) |
Apr 15, 2026 27w ago | Press Release | $30.35 | awaiting T+1 | — | $54.80 (+80.56%) |
Apr 14, 2026 28w ago | Press Release | $29.09 $30.35 | ▲ +4.33% | ▲ +3.56% | $54.80 (+88.38%) |
US Market Status
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