CBIZ is attractively valued (forward P/E 12.3x) with excellent cash conversion, but the price is 15.0% above the analyst target, estimates are falling 35.7% and earnings quality is mixed.
Thesis pillars
- Attractive Valuation Multiple→Stable
- Excellent Cash Conversion↓Deteriorating
- Price Above Analyst Target→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Nov 1, 2026, based on the 10-K filed Feb 26, 2026
CBIZ, Inc. (CBZ) Stock Analysis
Industrials · Specialty Business Services
Sell if holding. Analyst target reached at $54.98 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Near 52-week high (1.0% away).
CBIZ provides professional services — accounting, tax, advisory, benefits, and insurance — to middle-market businesses across more than 140 locations in 23 major U.S. markets. In 2025, total revenue was $2.76 billion, with the Financial Services segment contributing 83.4%... Read more
Sell if holding. Analyst target reached at $54.98 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Near 52-week high (1.0% away). Chart setup: No clear chart pattern; technical signals are mixed. Score 5.5/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 109d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About CBIZ, Inc.
About CBIZ, Inc.
CBIZ generated $2.76 billion in total revenue in 2025, with the Financial Services segment — accounting, tax, advisory, and technology — contributing $2.30 billion or 83.4% of total, up from 75.1% in 2024 following the Marcum non-attest acquisition. Benefits and Insurance Services contributed $409.6 million (14.9%) and National Practices $46.9 million (1.7%). The company employs more than 9,500 people across more than 140 locations in 23 major markets, with no unionized workforce disclosed.
CBIZ earns revenue through direct professional services fees and through Administrative Service Agreements (ASAs) with four independent CPA firms — principally CBIZ CPAs, P.C. (formerly Mayer Hoffman McCann, P.C., with 421 stockholders) — under which CBIZ provides staffing, office management, and administrative support in exchange for fees. ASA fees totaled approximately $651.2 million in 2025, up from $306.5 million in 2024, with the majority of revenues related to privately-held clients and governmental agencies. The Financial Services segment also includes government health care consulting through Myers and Stauffer LC, an independent national CPA firm with 43 equity members. The National Practices segment derives all revenue from a single client under a cost-plus contract expiring December 31, 2028. Core accounting and tax revenue is front-loaded — most annual EPS is earned in the first half of the year during tax season — while Benefits and Insurance Services revenue is more stable across quarters.
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CBIZ faces a distinctive regulatory constraint: the SEC classifies the company as an associated entity of its ASA-linked CPA firms, prohibiting it from providing services to or holding interests in those firms' SEC-reporting attest clients. The Marcum integration significantly increased the number of CBIZ CPAs' SEC-reporting attest clients, and CBIZ CPAs is now subject to annual PCAOB inspection following prior PCAOB and SEC sanctions against Marcum for quality control failures. If independence conflicts cannot be managed, ASA fee revenue — approximately $651.2 million in 2025 — could be curtailed, making the continuation of ASA relationships a material operational dependency the 10-K explicitly identifies as a risk.
See also: Industrials · Specialty Business Services
From CBIZ, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated Nov 2, 2026Recent Developments — CBIZ, Inc.
Latest news
- NEWS CBIZ Terminates 2024 Credit Facility Following Merger Completion — fiscal.ai Nov 2, 2026 neutral
- NEWS CBIZ Benefits & Insurance Services Launches as Independent Company — fiscal.ai Nov 2, 2026 neutral
- NEWS Grant Thornton Advisors Completes Acquisition of CBIZ — fiscal.ai Nov 2, 2026 neutral
- NEWS CBIZ Expects $15 Million in Additional Q3 Legal Expense — fiscal.ai Oct 22, 2026 neutral
- NEWS CBIZ Identifies Additional One-Time Legal Expenses Of $15M; Additional Expense Will Not Affect Disclosed Adj Net Income, — benzinga Oct 22, 2026 neutral
Latest item Nov 2, 2026 · Generated 2026-11-06T11:53:11Z.
Upcoming dated catalysts
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Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $54.98 — A.R:R is negative (-1.0) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Near 52-week high (1.0% away). Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $54.78. Score 5.5/10, moderate confidence.
Analyst target $46.75 reached (−15.0% from $54.98); no take-profit level is published. Prior stop was $54.78. Stop-loss: $54.78.
Analyst target reached - limited upside remaining; Near 52-week high (1.0% away); V7 low-quality RISK_OFF penalty: -0.5 (Q=4.4).
CBIZ, Inc. trades at a P/E of 23.1 (forward 12.3). TrendMatrix value score: 7.1/10. Verdict: Sell.
11 analysts rate CBZ, with a consensus score of 2.5/5. 2 analysts publish price targets averaging $55.
What does CBIZ, Inc. do?CBIZ provides professional services — accounting, tax, advisory, benefits, and insurance — to middle-market businesses...
CBIZ provides professional services — accounting, tax, advisory, benefits, and insurance — to middle-market businesses across more than 140 locations in 23 major U.S. markets. In 2025, total revenue was $2.76 billion, with the Financial Services segment contributing 83.4% following the Marcum non-attest business acquisition that closed in 2024. Benefits and Insurance Services contributed 14.9% and National Practices 1.7%, the latter serving a single client under a cost-plus contract.