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CBIZ

NYSE:CBZ
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CBZ
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

CBIZ, Inc. provides professional business services, products, and solutions that help its clients in managing finances and employees. The last earnings update was 72 days ago. More info.


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CBZ Share Price and Events
7 Day Returns
6.4%
NYSE:CBZ
2.2%
US Professional Services
1.1%
US Market
1 Year Returns
-8.4%
NYSE:CBZ
10.1%
US Professional Services
4.7%
US Market
CBZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CBIZ (CBZ) 6.4% 2.3% 0.7% -8.4% 89.5% 137%
US Professional Services 2.2% 5.1% 6.9% 10.1% 41.2% 67.5%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • CBZ underperformed the Professional Services industry which returned 10.1% over the past year.
  • CBZ underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
CBZ
Industry
5yr Volatility vs Market

CBZ Value

 Is CBIZ undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CBIZ to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CBIZ.

NYSE:CBZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CBZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 21%) (30.39%))
1.037
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.037 * 5.96%)
8.91%

Discounted Cash Flow Calculation for NYSE:CBZ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CBIZ is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:CBZ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.91%)
2020 89.58 Analyst x2 82.25
2021 96.50 Est @ 7.73% 81.35
2022 102.51 Est @ 6.23% 79.35
2023 107.82 Est @ 5.18% 76.63
2024 112.62 Est @ 4.44% 73.49
2025 117.04 Est @ 3.93% 70.12
2026 121.22 Est @ 3.57% 66.68
2027 125.24 Est @ 3.32% 63.26
2028 129.18 Est @ 3.14% 59.91
2029 133.08 Est @ 3.02% 56.66
Present value of next 10 years cash flows $709.70
NYSE:CBZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $133.08 × (1 + 2.73%) ÷ (8.91% – 2.73%)
$2,211.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,211.11 ÷ (1 + 8.91%)10
$941.50
NYSE:CBZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $709.70 + $941.50
$1,651.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,651.20 / 54.90
$30.08
NYSE:CBZ Discount to Share Price
Calculation Result
Value per share (USD) From above. $30.08
Current discount Discount to share price of $20.83
= -1 x ($20.83 - $30.08) / $30.08
30.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CBIZ is available for.
Intrinsic value
31%
Share price is $20.83 vs Future cash flow value of $30.08
Current Discount Checks
For CBIZ to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CBIZ's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CBIZ's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CBIZ's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CBIZ's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CBZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.16
NYSE:CBZ Share Price ** NYSE (2019-07-16) in USD $20.83
United States of America Professional Services Industry PE Ratio Median Figure of 38 Publicly-Listed Professional Services Companies 22.67x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CBIZ.

NYSE:CBZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CBZ Share Price ÷ EPS (both in USD)

= 20.83 ÷ 1.16

17.96x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CBIZ is good value based on earnings compared to the US Professional Services industry average.
  • CBIZ is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does CBIZ's expected growth come at a high price?
Raw Data
NYSE:CBZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
10.1%per year
United States of America Professional Services Industry PEG Ratio Median Figure of 31 Publicly-Listed Professional Services Companies 1.76x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

NYSE:CBZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.96x ÷ 10.1%

1.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CBIZ is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CBIZ's assets?
Raw Data
NYSE:CBZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $11.51
NYSE:CBZ Share Price * NYSE (2019-07-16) in USD $20.83
United States of America Professional Services Industry PB Ratio Median Figure of 61 Publicly-Listed Professional Services Companies 2.45x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
NYSE:CBZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CBZ Share Price ÷ Book Value per Share (both in USD)

= 20.83 ÷ 11.51

1.81x

* Primary Listing of CBIZ.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CBIZ is good value based on assets compared to the US Professional Services industry average.
X
Value checks
We assess CBIZ's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check)
  5. CBIZ has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CBZ Future Performance

 How is CBIZ expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CBIZ expected to grow at an attractive rate?
  • CBIZ's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • CBIZ's earnings growth is positive but not above the United States of America market average.
  • CBIZ's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CBZ Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CBZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 10.1%
NYSE:CBZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.8%
United States of America Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 31.8%
United States of America Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CBZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CBZ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,005 110 75 4
2019-12-31 956 101 67 4
NYSE:CBZ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 926 101 63
2018-12-31 922 105 62
2018-09-30 918 97 67
2018-06-30 902 89 64
2018-03-31 880 71 62
2017-12-31 855 77 51
2017-09-30 839 74 46
2017-06-30 831 73 47
2017-03-31 817 74 44
2016-12-31 800 74 41
2016-09-30 785 57 40
2016-06-30 773 65 39

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CBIZ's earnings are expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
  • CBIZ's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CBZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from CBIZ Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CBZ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.31 1.37 1.26 4.00
2019-12-31 1.20 1.20 1.19 3.00
NYSE:CBZ Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.16
2018-12-31 1.13
2018-09-30 1.24
2018-06-30 1.17
2018-03-31 1.14
2017-12-31 0.95
2017-09-30 0.85
2017-06-30 0.88
2017-03-31 0.83
2016-12-31 0.78
2016-09-30 0.78
2016-06-30 0.75

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CBIZ will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess CBIZ's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CBIZ has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CBZ Past Performance

  How has CBIZ performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CBIZ's growth in the last year to its industry (Professional Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CBIZ's year on year earnings growth rate has been positive over the past 5 years.
  • CBIZ's 1-year earnings growth is less than its 5-year average (2.4% vs 19.1%)
  • CBIZ's earnings growth has not exceeded the US Professional Services industry average in the past year (2.4% vs 28%).
Earnings and Revenue History
CBIZ's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CBIZ Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CBZ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 925.91 63.33 40.88
2018-12-31 922.00 61.57 39.17
2018-09-30 918.12 67.25 37.67
2018-06-30 901.60 63.52 35.34
2018-03-31 879.97 61.82 34.56
2017-12-31 855.34 51.03 33.30
2017-09-30 838.98 45.74 35.08
2017-06-30 831.05 46.86 35.77
2017-03-31 817.05 43.84 34.86
2016-12-31 799.83 40.61 36.32
2016-09-30 785.46 40.40 35.27
2016-06-30 772.77 39.00 34.61
2016-03-31 760.79 37.30 32.89
2015-12-31 750.42 35.00 32.53
2015-09-30 743.03 34.40 30.88
2015-06-30 736.20 32.13 31.76
2015-03-31 728.62 31.89 33.44
2014-12-31 719.48 30.41 34.18
2014-09-30 697.44 28.95 35.10
2014-06-30 685.95 27.11 35.17
2014-03-31 680.71 26.28 34.56
2013-12-31 677.17 25.38 34.05
2013-09-30 677.13 26.94 30.89
2013-06-30 658.19 24.55 29.42
2013-03-31 640.17 22.68 29.33
2012-12-31 612.69 23.79 30.19
2012-09-30 654.53 22.82 32.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CBIZ has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CBIZ used its assets less efficiently than the US Professional Services industry average last year based on Return on Assets.
  • CBIZ's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CBIZ's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CBIZ has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CBZ Health

 How is CBIZ's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CBIZ's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CBIZ is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CBIZ's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CBIZ's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CBIZ Company Filings, last reported 3 months ago.

NYSE:CBZ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 623.49 180.56 2.14
2018-12-31 593.66 133.97 0.64
2018-09-30 601.92 168.49 3.51
2018-06-30 588.83 181.78 1.98
2018-03-31 571.62 217.57 0.38
2017-12-31 530.88 177.67 0.50
2017-09-30 530.49 208.47 1.28
2017-06-30 523.36 212.42 1.17
2017-03-31 507.27 213.94 2.44
2016-12-31 480.02 192.83 3.50
2016-09-30 474.69 220.65 0.51
2016-06-30 460.43 236.65 8.49
2016-03-31 445.86 234.73 1.56
2015-12-31 427.95 204.68 0.85
2015-09-30 445.56 200.12 1.84
2015-06-30 448.72 201.82 2.25
2015-03-31 418.33 244.32 0.13
2014-12-31 399.85 204.86 0.98
2014-09-30 403.63 204.19 0.40
2014-06-30 399.10 208.60 3.95
2014-03-31 397.02 218.51 4.41
2013-12-31 374.45 175.81 0.77
2013-09-30 363.81 170.19 3.55
2013-06-30 324.65 333.28 1.19
2013-03-31 315.66 352.44 0.20
2012-12-31 295.23 337.60 0.90
2012-09-30 290.12 269.50 0.45
  • CBIZ's level of debt (29%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (55% vs 29% today).
  • Debt is well covered by operating cash flow (55.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.4x coverage).
X
Financial health checks
We assess CBIZ's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CBIZ has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CBZ Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from CBIZ dividends.
If you bought $2,000 of CBIZ shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate CBIZ's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate CBIZ's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CBZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CBZ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as CBIZ has not reported any payouts.
  • Unable to verify if CBIZ's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of CBIZ's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as CBIZ has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CBIZ's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CBIZ afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CBIZ has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CBZ Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jerome Grisko
COMPENSATION $4,094,381
AGE 57
TENURE AS CEO 3.3 years
CEO Bio

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 February 1, 2000 and March 9, 2016 respectively. Mr. Grisko joined CBIZ as its Vice President of Mergers & Acquisitions in September 1998 and also served as its Senior Vice President of Mergers & Acquisitions and Legal Affairs since December 1998. He served as Chief Operating Officer of CBIZ, Inc until March 2016. Prior to CBIZ, he was associated with the law firm of Baker & Hostetler LLP, where he practiced from September 1987 to September 1998 and also served as its Partner from January 1995 to September 1998. Mr. Grisko concentrated his practice in the area of mergers, acquisitions and divestitures at Baker & Hostetler. He has been a Director of CBIZ, Inc. since November 11, 2015.

CEO Compensation
  • Jerome's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Jerome's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the CBIZ management team in years:

5.5
Average Tenure
60
Average Age
  • The average tenure for the CBIZ management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jerome Grisko

TITLE
President
COMPENSATION
$4M
AGE
57
TENURE
3.3 yrs

Ware Grove

TITLE
Senior VP & CFO
COMPENSATION
$2M
AGE
68
TENURE
18.6 yrs

Chris Spurio

TITLE
President of Financial Services
COMPENSATION
$2M
AGE
53
TENURE
5.5 yrs

Michael Kouzelos

TITLE
President of Benefits & Insurance Services
COMPENSATION
$2M
AGE
50
TENURE
3 yrs

Michael DeGroote

TITLE
AGE
85

Fred Winkler

TITLE
Chief Operating Officer
COMPENSATION
$1M

John Fleischer

TITLE
Senior VP & Chief Information Officer
AGE
57
TENURE
4.9 yrs

Daniel Clark

TITLE
Investor Relations Officer
AGE
64

Michael Gleespen

TITLE
Corporate Secretary & General Counsel
AGE
60
TENURE
18.1 yrs

Mark Waxman

TITLE
Senior VP & Chief Marketing Officer
AGE
62
TENURE
18.5 yrs
Board of Directors Tenure

Average tenure and age of the CBIZ board of directors in years:

14.3
Average Tenure
69.5
Average Age
  • The average tenure for the CBIZ board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Steven Gerard

TITLE
Non-Executive Chairman
COMPENSATION
$276K
AGE
73
TENURE
16.8 yrs

Jerome Grisko

TITLE
President
COMPENSATION
$4M
AGE
57
TENURE
3.7 yrs

Rick Burdick

TITLE
Lead Director & Vice Chairman
COMPENSATION
$190K
AGE
67
TENURE
16.8 yrs

Joseph DiMartino

TITLE
Independent Director
COMPENSATION
$200K
AGE
76
TENURE
21.7 yrs

Donald Weir

TITLE
Independent Director
COMPENSATION
$200K
AGE
77
TENURE
15.8 yrs

Sherrill Hudson

TITLE
Independent Director
COMPENSATION
$193K
AGE
76
TENURE
4.4 yrs

Todd Slotkin

TITLE
Independent Director
COMPENSATION
$191K
AGE
66
TENURE
15.8 yrs

Mike DeGroote

TITLE
Director
COMPENSATION
$173K
AGE
58
TENURE
12.7 yrs

Bennie Wiley

TITLE
Independent Director
COMPENSATION
$179K
AGE
72
TENURE
11.2 yrs

Gina France

TITLE
Independent Director
COMPENSATION
$173K
AGE
60
TENURE
4.4 yrs
Who owns this company?
Recent Insider Trading
  • CBIZ individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. Jun 19 Sell Todd Slotkin Individual 14. Jun 19 14. Jun 19 -2,000 $20.41 $-40,816
17. Jun 19 Sell Benaree Wiley Individual 14. Jun 19 14. Jun 19 -15,684 $20.40 $-319,987
26. Apr 19 Sell Joseph DiMartino Individual 13. Mar 19 13. Mar 19 -3,500 $20.27 $-70,953
19. Mar 19 Sell Todd Slotkin Individual 15. Mar 19 15. Mar 19 -3,500 $20.14 $-70,497
05. Mar 19 Sell Joseph DiMartino Individual 01. Mar 19 01. Mar 19 -3,488 $20.63 $-71,957
13. Sep 18 Sell Chris Spurio Individual 12. Sep 18 12. Sep 18 -14,159 $23.44 $-331,908
12. Sep 18 Sell Chris Spurio Individual 10. Sep 18 11. Sep 18 -35,841 $23.93 $-853,312
05. Sep 18 Sell Donald Weir Individual 31. Aug 18 31. Aug 18 -10,000 $23.77 $-237,747
29. Aug 18 Sell Ware Grove Individual 27. Aug 18 27. Aug 18 -10,000 $23.75 $-237,500
X
Management checks
We assess CBIZ's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CBIZ has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CBZ News

Simply Wall St News

Shareholders Should Look Hard At CBIZ, Inc.’s (NYSE:CBZ) 7.9% Return On Capital

What is Return On Capital Employed (ROCE)? … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for CBIZ: 0.079 = US$84m ÷ (US$1.4b - US$311m) (Based on the trailing twelve months to March 2019.) So, CBIZ has an ROCE of 7.9%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

We Think CBIZ (NYSE:CBZ) Can Stay On Top Of Its Debt

(NYSE:CBZ) does use debt in its business. … Since CBIZ does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Our View The good news is that CBIZ's demonstrated ability to cover its interest expense with its EBIT delights us like a fluffy puppy does a toddler.

Simply Wall St -

Who Has Been Selling CBIZ, Inc. (NYSE:CBZ) Shares?

So we'll take a look at whether insiders have been buying or selling shares in CBIZ, Inc. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for CBIZ CBIZ Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider sale was by the President of Financial Services, Chris Spurio, for US$853k worth of shares, at about US$23.93 per share. … Insiders at CBIZ Have Sold Stock Recently The last quarter saw substantial insider selling of CBIZ shares.

Simply Wall St -

Is CBIZ, Inc. (NYSE:CBZ) Trading At A 25% Discount?

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $71.93 $89.58 $97.38 $104.12 $110.02 $115.28 $120.08 $124.57 $128.85 $133.00 Growth Rate Estimate Source Analyst x1 Analyst x2 Est @ 8.71% Est @ 6.92% Est @ 5.66% Est @ 4.78% Est @ 4.17% Est @ 3.74% Est @ 3.43% Est @ 3.22% Present Value ($, Millions) Discounted @ 9.62% $65.61 $74.54 $73.93 $72.11 $69.50 $66.44 $63.13 $59.74 $56.37 $53.08 Present Value of 10-year Cash Flow (PVCF)= $654.45m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.6%. … NYSE:CBZ Intrinsic value, June 3rd 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

How Much Did CBIZ, Inc.'s (NYSE:CBZ) CEO Pocket Last Year?

First, this article will compare CEO compensation with compensation at similar sized companies. … See our latest analysis for CBIZ How Does Jerome Grisko's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by CBIZ, Inc., and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Do You Know What CBIZ, Inc.'s (NYSE:CBZ) P/E Ratio Means?

That is equivalent to an earnings yield of about 5.9%. … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Can You Imagine How Chuffed CBIZ's (NYSE:CBZ) Shareholders Feel About Its 132% Share Price Gain?

(NYSE:CBZ) which saw its share price drive 132% higher over five years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, CBIZ achieved compound earnings per share (EPS) growth of 17% per year.

Simply Wall St -

Is CBIZ, Inc.’s (NYSE:CBZ) 11% Return On Capital Employed Good News?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Are Insiders Selling CBIZ, Inc. (NYSE:CBZ) Stock?

So we'll take a look at whether insiders have been buying or selling shares in CBIZ, Inc. … That means that an insider was selling shares at around the current price of US$19.97. … Over the last year we saw more insider selling of CBIZ shares, than buying

Simply Wall St -

CBIZ, Inc.'s (NYSE:CBZ) Earnings Grew 21%, Did It Beat Long-Term Trend?

Investors with a long-term horizong may find it valuable to assess CBIZ, Inc.'s (NYSE:CBZ) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … CBZ's trailing twelve-month earnings (from 31 December 2018) of US$62m has. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 19%, indicating the rate at which CBZ is growing has accelerated

Simply Wall St -

CBZ Company Info

Description

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, Benefits and Insurance Services, and National Practices. The Financial Services group provides accounting and tax, government healthcare consulting, financial advisory, valuation, and risk and advisory services. The Benefits and Insurance Services group offers group health benefits consulting, payroll, property and casualty, and retirement plan services. The National Practices group provides managed networking and hardware, and health care consulting services. The company primarily serves small and midsized businesses, as well as individuals, governmental entities, and not-for-profit enterprises in the United States and parts of Canada. CBIZ, Inc. was founded in 1987 and is headquartered in Cleveland, Ohio.

Details
Name: CBIZ, Inc.
CBZ
Exchange: NYSE
Founded: 1987
$1,143,593,829
54,901,288
Website: http://www.cbiz.com
Address: CBIZ, Inc.
6050 Oak Tree Boulevard South,
Suite 500,
Cleveland,
Ohio, 44131,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CBZ Common Stock New York Stock Exchange US USD 27. Apr 1995
DB XC4 Common Stock Deutsche Boerse AG DE EUR 27. Apr 1995
LSE 0HQI Common Stock London Stock Exchange GB USD 27. Apr 1995
Number of employees
Current staff
Staff numbers
4,800
CBIZ employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:01
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/06/27
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.