Explain this page
Arphra AIPlain-English read on CBIZ, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +14.42% | +15.82% | +14.03% | +10.06% | +12.89% | +12.25% | +12.60% | +12.04% | +12.60% |
| Operating margin | +6.58% | +11.92% | +10.38% | +4.06% | +8.48% | +7.73% | +7.81% | +7.47% | +7.47% |
| EBITDA margin | +11.22% | +12.92% | +14.00% | +7.73% | +13.28% | +11.42% | +11.90% | +11.54% | +11.85% |
| EBIT margin | +8.77% | +10.59% | +11.72% | +5.08% | +9.72% | +9.03% | +8.58% | +8.75% | +8.81% |
| Pre-tax margin | +8.42% | +10.02% | +10.45% | +3.19% | +5.83% | +6.49% | +6.54% | +6.66% | +6.32% |
| Net margin | +6.42% | +7.46% | +7.60% | +2.26% | +4.19% | +4.68% | +4.64% | +4.72% | +4.79% |
| Cost structure | |||||||||
| Cost of revenue / sales | +85.58% | +84.18% | +85.97% | +89.94% | +87.11% | +89.23% | +87.52% | +88.33% | +87.61% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +5.08% | +3.90% | +3.64% | +6.00% | +4.40% | +4.61% | +4.80% | +4.80% | +4.63% |
| Effective tax rate | +23.79% | +25.53% | +27.26% | +29.01% | +28.22% | +27.40% | +27.92% | +27.32% | +29.71% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +10.06% | +14.77% | +15.28% | +2.31% | +6.55% | +6.62% | +6.65% | +6.80% | +6.74% |
| Return on assets (ROA) | +4.24% | +5.47% | +5.92% | +0.92% | +2.52% | +2.59% | +2.60% | +2.66% | +2.65% |
| Return on capital (ROC) | +7.02% | +14.17% | +12.31% | +2.04% | +6.52% | +5.66% | +5.74% | +5.53% | +5.33% |
| Return on invested capital (ROIC) | +6.84% | +8.87% | +9.01% | +1.14% | +3.22% | +3.42% | +3.41% | +3.50% | +3.42% |
| Asset turnover | +66.06% | +73.29% | +77.86% | +40.56% | +60.18% | +55.36% | +56.16% | +56.37% | +55.25% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +6.42% | +7.46% | +7.60% | +2.26% | +4.19% | +4.68% | +4.64% | +4.72% | +4.79% |
| Asset turnover (× revenue / assets) | +66.06% | +73.29% | +77.86% | +40.56% | +60.18% | +55.36% | +56.16% | +56.37% | +55.25% |
| Equity multiplier (× assets / equity) | +237.42% | +270.05% | +258.15% | +251.18% | +260.09% | +255.56% | +255.26% | +255.42% | +254.41% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.66 | 0.73 | 0.78 | 0.41 | 0.60 | 0.55 | 0.56 | 0.56 | 0.55 |
| Fixed-asset turnover | 5.68 | 6.16 | 5.94 | 3.76 | 6.64 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 4.56 | 4.22 | 4.19 | 3.37 | 4.96 | — | — | — | — |
| Payables turnover | 14.38 | 14.72 | 16.52 | 17.99 | 26.42 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 80.00 | 86.47 | 87.20 | 108.47 | 73.58 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 25.38 | 24.79 | 22.10 | 20.29 | 13.81 | — | — | — | — |
| Cash conversion cycle | 54.62 | 61.68 | 65.10 | 88.18 | 59.77 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.85 | 1.20 | 1.27 | 3.01 | 1.67 | 1.70 | 1.69 | 1.68 | 1.60 |
| FCF / Net income | 1.72 | 1.12 | 1.08 | 2.70 | 1.52 | 1.51 | 1.46 | 1.44 | 1.42 |
| FCF margin | +11.06% | +8.32% | +8.20% | +6.11% | +6.36% | +7.07% | +6.78% | +6.81% | +6.79% |
| OCF margin | +11.87% | +8.93% | +9.65% | +6.82% | +6.98% | +7.97% | +7.82% | +7.92% | +7.67% |
| CapEx / Revenue | +0.81% | +0.61% | +1.45% | +0.71% | +0.61% | +0.92% | +0.90% | +0.91% | +0.93% |
| CapEx / D&A | 0.33 | 0.26 | 0.64 | 0.27 | 0.17 | — | — | — | — |
| Stock-based comp / Revenue | +1.03% | +1.04% | +0.77% | +0.76% | +0.94% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.32 | 2.01 | 2.39 | 0.78 | 1.83 | 4.07 | 4.49 | 5.02 | 5.77 |
| EPS · basic | 1.35 | 2.05 | 2.42 | 0.78 | 1.83 | 4.09 | 4.56 | 5.05 | 5.81 |
| Book value / share | 13.11 | 13.62 | 15.66 | 33.80 | 27.86 | 32.03 | 32.49 | 33.54 | 34.72 |
| Tangible BV / share | -2.54 | -4.55 | -4.29 | -22.13 | -17.52 | 32.03 | 32.49 | 33.54 | 34.72 |
| Sales / share | 20.57 | 26.95 | 31.47 | 34.44 | 43.61 | 45.31 | 46.58 | 48.29 | 48.80 |
| Operating CF / share | 2.44 | 2.41 | 3.04 | 2.35 | 3.04 | 3.61 | 3.64 | 3.83 | 3.74 |
| Free cash flow / share | 2.27 | 2.24 | 2.58 | 2.10 | 2.78 | 3.20 | 3.16 | 3.29 | 3.31 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +27.79% | +12.69% | +13.97% | +52.08% | +2.91% | +4.25% | +2.57% | +1.82% | +13.72% |
| Gross profit · YoY | — | +40.23% | -0.07% | -18.25% | +94.77% | -2.18% | +7.24% | -2.00% | +6.55% | +11.82% |
| Profit | ||||||||||
| Operating income · YoY | — | +131.65% | -1.84% | -55.39% | +217.45% | -6.22% | +5.27% | -1.87% | +1.79% | +15.54% |
| EBITDA · YoY | — | +47.15% | +22.09% | -37.03% | +161.20% | -11.51% | +8.64% | -0.54% | +4.57% | +14.50% |
| Net income · YoY | — | +48.62% | +14.82% | -66.08% | +181.31% | +14.99% | +3.36% | +4.50% | +3.31% | +9.65% |
| Operating | ||||||||||
| EBIT · YoY | — | +54.32% | +24.69% | -50.55% | +190.77% | -4.43% | -0.94% | +4.65% | +2.55% | +13.79% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +52.27% | +18.91% | -67.36% | +134.62% | +122.17% | +10.55% | +11.64% | +14.98% | +20.25% |
| EPS · basic · YoY | — | +51.85% | +18.05% | -67.77% | +134.62% | +123.39% | +11.62% | +10.59% | +15.14% | +20.01% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $331.25M | $474.47M | $551.01M | $1.83B | $1.83B | $1.87B | $1.96B | $1.99B | $2.13B |
| Net debt | $298.87M | $441.28M | $542.92M | $1.82B | $1.77B | $1.84B | $1.93B | $1.96B | $2.1B |
| Net debt / EBITDA | 2.41 | 2.42 | 2.44 | 12.97 | 4.84 | 5.68 | 5.48 | 5.60 | 5.73 |
| Debt / equity | 0.47 | 0.67 | 0.70 | 1.03 | 1.04 | 0.93 | 0.95 | 0.95 | 0.97 |
| Debt / assets | +19.80% | +24.63% | +26.96% | +41.00% | +39.90% | +36.48% | +37.25% | +37.05% | +38.17% |
| Equity / assets | +42.12% | +37.03% | +38.74% | +39.81% | +38.45% | +39.13% | +39.18% | +39.15% | +39.31% |
| Coverage | |||||||||
| EBITDA / interest expense | 32.05 | 22.69 | 11.06 | 4.08 | 3.42 | 4.76 | 5.05 | 4.85 | 4.97 |
| Operating income / interest | 18.79 | 20.94 | 8.21 | 2.14 | 2.18 | 3.22 | 3.31 | 3.14 | 3.13 |
| Interest expense | $3.87M | $8.04M | $20.13M | $34.38M | $107.22M | $68.1M | $69.74M | $72.15M | $73.7M |
| Liquidity | |||||||||
| Current ratio | 1.07 | 1.11 | 1.20 | 1.18 | 1.22 | — | — | — | — |
| Quick ratio | 0.65 | 0.72 | 0.76 | 0.78 | 0.83 | — | — | — | — |
| Cash ratio | 0.08 | 0.06 | 0.02 | 0.02 | 0.08 | — | — | — | — |
| Working capital | $28.39M | $56.02M | $100.76M | $129.92M | $163.66M | — | — | — | — |
| Working capital / revenue | +2.57% | +3.97% | +6.33% | +7.16% | +5.93% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).