NYSE:CBZ

Stock Analysis Report

Executive Summary

CBIZ, Inc. provides professional business services, products, and solutions that help its clients in managing finances and employees.

Snowflake

Fundamentals

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has CBIZ's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.2%

CBZ

1.1%

US Professional Services

1.8%

US Market


1 Year Return

9.5%

CBZ

18.3%

US Professional Services

7.3%

US Market

Return vs Industry: CBZ underperformed the US Professional Services industry which returned 18.3% over the past year.

Return vs Market: CBZ exceeded the US Market which returned 7.3% over the past year.


Shareholder returns

CBZIndustryMarket
7 Day3.2%1.1%1.8%
30 Day2.0%-0.8%-0.7%
90 Day13.4%1.0%0.06%
1 Year9.5%9.5%19.4%18.3%9.7%7.3%
3 Year121.5%121.5%50.9%45.6%46.3%36.9%
5 Year188.3%188.3%86.3%76.4%64.5%46.5%

Price Volatility Vs. Market

How volatile is CBIZ's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CBIZ undervalued compared to its fair value and its price relative to the market?

37.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CBZ ($24.48) is trading below our estimate of fair value ($38.96)

Significantly Undervalued: CBZ is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CBZ is poor value based on its PE Ratio (20x) compared to the Professional Services industry average (19.3x).

PE vs Market: CBZ is poor value based on its PE Ratio (20x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: CBZ is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: CBZ is good value based on its PB Ratio (2.1x) compared to the US Professional Services industry average (2.4x).


Next Steps

Future Growth

How is CBIZ forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CBZ's forecast earnings growth (8.8% per year) is above the savings rate (2.7%).

Earnings vs Market: CBZ's earnings (8.8% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: CBZ's earnings are forecast to grow, but not significantly.

Revenue vs Market: CBZ's revenue (4.6% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: CBZ's revenue (4.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CBZ's Return on Equity is forecast to be low in 3 years time (11.8%).


Next Steps

Past Performance

How has CBIZ performed over the past 5 years?

18.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CBZ's earnings have grown by 18.8% per year over the past 5 years.

Accelerating Growth: CBZ's earnings growth over the past year (5.2%) is below its 5-year average (18.8% per year).

Earnings vs Industry: CBZ earnings growth over the past year (5.2%) underperformed the Professional Services industry 36.8%.


Return on Equity

High ROE: CBZ's Return on Equity (10.5%) is considered low.


Return on Assets

ROA vs Industry: CBZ's Return on Assets is below or equal to the Professional Services industry average last year.


Return on Capital Employed

ROCE Improving: CBZ has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is CBIZ's financial position?


Financial Position Analysis

Short Term Liabilities: CBZ's short term assets ($458.0M) exceeds its short term liabilities ($324.7M)

Long Term Liabilities: CBZ's short term assets (458.0M) exceeds its long term liabilities (418.1M)


Debt to Equity History and Analysis

Debt Level: CBZ's debt to equity ratio (24.9%) is considered satisfactory

Reducing Debt: CBZ's debt to equity ratio has reduced from 52.2% to 24.9% over the past 5 years.

Debt Coverage: CBZ's debt is well covered by operating cash flow (53.1%).

Interest Coverage: CBZ's interest payments on its debt are well covered by EBIT (15.5x coverage).


Balance Sheet

Inventory Level: CBZ has a low level of unsold assets or inventory.

Debt Coverage by Assets: CBZ's debt is covered by short term assets (assets are 2.905190x debt).


Next Steps

Dividend

What is CBIZ's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage1.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate CBZ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CBZ's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if CBZ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CBZ's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CBZ's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of CBIZ's salary, the management and board of directors tenure and is there insider trading?

5.8yrs

Average management tenure


CEO

Jerome Grisko (57yo)

3.6yrs

Tenure

US$4,094,381

Compensation

Mr. Jerome P. Grisko, Jr., also known as Jerry, has been the President and Chief Executive Officer of CBIZ, Inc. (formerly, Century Business Services Inc.) at CBIZ HealthCare Solutions Group, Inc. since Fe ...


CEO Compensation Analysis

Compensation vs. Market: Jerome's total compensation ($USD4.09M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Jerome's compensation has increased by more than 20% in the past year.


Management Age and Tenure

5.8yrs

Average Tenure

60yo

Average Age

Experienced Management: CBZ's management team is seasoned and experienced (5.8 years average tenure).


Board Age and Tenure

14.5yrs

Average Tenure

69.5yo

Average Age

Experienced Board: CBZ's board of directors are seasoned and experienced ( 14.5 years average tenure).


Insider Trading

Insider Buying: CBZ insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$37,04804 Oct 19
Benaree Wiley
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,600
Max PriceUS$23.15
SellUS$794,11330 Sep 19
P2 Capital Partners, LLC
EntityCompany
Shares33,980
Max PriceUS$23.37
BuyUS$7,813,71030 Sep 19
P2 Capital Partners, LLC
EntityCompany
Shares325,945
Max PriceUS$24.51
SellUS$1,617,00013 Sep 19
Steven Gerard
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares70,000
Max PriceUS$23.10
SellUS$40,81617 Jun 19
Todd Slotkin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$20.41
SellUS$319,98717 Jun 19
Benaree Wiley
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares15,684
Max PriceUS$20.40
SellUS$70,95326 Apr 19
Joseph DiMartino
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,500
Max PriceUS$20.27
SellUS$70,49719 Mar 19
Todd Slotkin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,500
Max PriceUS$20.14
SellUS$71,95705 Mar 19
Joseph DiMartino
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,488
Max PriceUS$20.63

Ownership Breakdown


Management Team

  • Michael DeGroote (85yo)

    • Tenure: 0yrs
  • Jerome Grisko (57yo)

    President

    • Tenure: 3.6yrs
    • Compensation: US$4.09m
  • Chris Spurio (53yo)

    President of Financial Services

    • Tenure: 5.8yrs
    • Compensation: US$1.95m
  • Ware Grove (68yo)

    Senior VP & CFO

    • Tenure: 18.8yrs
    • Compensation: US$1.93m
  • Michael Gleespen (60yo)

    Corporate Secretary & General Counsel

    • Tenure: 18.3yrs
  • Mark Waxman (62yo)

    Senior VP & Chief Marketing Officer

    • Tenure: 18.8yrs
  • Michael Kouzelos (50yo)

    President of Benefits & Insurance Services

    • Tenure: 3.3yrs
    • Compensation: US$1.74m
  • Daniel Clark (64yo)

    Investor Relations Officer

    • Tenure: 0yrs
  • John Fleischer (57yo)

    Senior VP & Chief Information Officer

    • Tenure: 5.2yrs
  • Fred Winkler

    Chief Operating Officer

    • Tenure: 0yrs
    • Compensation: US$1.04m

Board Members

  • Sherrill Hudson (76yo)

    Independent Director

    • Tenure: 4.7yrs
    • Compensation: US$192.83k
  • Rick Burdick (67yo)

    Lead Director & Vice Chairman

    • Tenure: 17yrs
    • Compensation: US$190.33k
  • Joseph DiMartino (76yo)

    Independent Director

    • Tenure: 21.9yrs
    • Compensation: US$200.33k
  • Jerome Grisko (57yo)

    President

    • Tenure: 3.6yrs
    • Compensation: US$4.09m
  • Steven Gerard (73yo)

    Non-Executive Chairman

    • Tenure: 17yrs
    • Compensation: US$276.07k
  • Bennie Wiley (72yo)

    Independent Director

    • Tenure: 11.4yrs
    • Compensation: US$179.33k
  • Gina France (60yo)

    Independent Director

    • Tenure: 4.7yrs
    • Compensation: US$173.33k
  • Todd Slotkin (66yo)

    Independent Director

    • Tenure: 16.1yrs
    • Compensation: US$191.33k
  • Donald Weir (77yo)

    Independent Director

    • Tenure: 16.1yrs
    • Compensation: US$200.33k
  • Mike DeGroote (58yo)

    Independent Director

    • Tenure: 12.9yrs
    • Compensation: US$173.33k

Company Information

CBIZ, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CBIZ, Inc.
  • Ticker: CBZ
  • Exchange: NYSE
  • Founded: 1987
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: US$1.327b
  • Shares outstanding: 54.21m
  • Website: https://www.cbiz.com

Number of Employees


Location

  • CBIZ, Inc.
  • 6050 Oak Tree Boulevard South
  • Suite 500
  • Cleveland
  • Ohio
  • 44131
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CBZNYSE (New York Stock Exchange)YesCommon StockUSUSDApr 1995
XC4DB (Deutsche Boerse AG)YesCommon StockDEEURApr 1995
0HQILSE (London Stock Exchange)YesCommon StockGBUSDApr 1995

Biography

CBIZ, Inc. provides professional business services, products, and solutions that help its clients in managing finances and employees. It offers its services through three groups: Financial Services, Benefi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 23:53
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.