CBIZ Financials

207.7 M

Revenue Q3, 2017

840.2 M

Mkt cap, 13-Nov-2017
Net income (Q3, 2017)9.7 M
EBIT (Q3, 2017)15 M
Cash, 30-Sep-20171.3 M
EV842.2 M

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

692 m719.5 m750.4 m799.8 m

Revenue growth, %

4%4%7%

EBIT

48.9 m55.5 m63.9 m65.8 m

EBIT margin, %

7%8%9%8%

Interest expense

15.4 m13.1 m8.9 m6.6 m

Income tax expense

16.4 m20.2 m22.8 m26.4 m

Net Income

85.9 m29.8 m34.1 m40.1 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

168.8 m208.9 m180.9 m183.8 m213.9 m185 m187.1 m224.2 m197 m199.8 m241.5 m211 m207.7 m

EBIT

9 m32.5 m10.3 m15.9 m33.1 m15.3 m19.9 m35.9 m14.7 m17 m39.9 m13.7 m15 m

EBIT margin, %

5%16%6%9%15%8%11%16%7%9%17%6%7%

Interest expense

3.8 m3.4 m3.6 m3.1 m3 m2.8 m1.8 m1.5 m1.7 m1.8 m1.5 m1.7 m1.8 m

Income tax expense

2.4 m13 m4.5 m4.1 m13.6 m4.7 m6.8 m14.8 m5.3 m7.3 m16.1 m4.3 m6.2 m

Net Income

62.4 m17.3 m6.1 m7.7 m19.2 m6.6 m10.2 m21.8 m8.1 m10.9 m24.9 m11 m9.7 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

771 k979 k850 k3.5 m

Accounts Receivable

143.1 m143 m153.6 m175.4 m

Current Assets

350.5 m379.3 m372.5 m441.6 m

PP&E

19.2 m18.5 m20.2 m19.5 m

Total Assets

897.5 m991.2 m998.2 m1.1 b

Accounts Payable

37.5 m36.8 m35.6 m45.8 m

Short-term debt

1.1 m

Current Liabilities

267.4 m295.2 m271.1 m339.4 m

Long-term debt

1.1 m

Non-Current Liabilities

299.2 m299.1 m

Total Debt

2.1 m

Total Liabilities

570.3 m638.6 m

Additional Paid-in Capital

580.6 m604.3 m634.6 m655.6 m

Retained Earnings

191 m220.8 m254.9 m294.9 m

Total Equity

374.4 m399.8 m427.9 m480 m

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

2.4 x2.5 x2.3 x2.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

3.6 m2.3 m1.8 m1.6 m8.5 m514 k2.4 m1.2 m1.3 m

Accounts Receivable

161.7 m177.2 m175.8 m197.2 m193.2 m194.4 m220.9 m218.3 m213.4 m

Current Assets

314.2 m352.1 m336.2 m392.8 m458.1 m383.3 m432.6 m428.6 m403.9 m

PP&E

18.5 m20.9 m20.4 m19.7 m19.7 m19.4 m19.9 m23.7 m24.4 m

Total Assets

858.8 m974.5 m952 m1 b1.1 b1.1 b1.1 b1.2 b1.1 b

Accounts Payable

33.7 m48.6 m35.1 m36.6 m54.8 m42.5 m47.1 m62 m47.6 m

Short-term debt

411 k636 k1 m1.2 m1.6 m

Current Liabilities

250.7 m229.9 m219.3 m250.9 m329.8 m251.4 m277.8 m290.2 m262.5 m

Long-term debt

411 k636 k1 m1.2 m1.6 m

Non-Current Liabilities

295.9 m287.1 m320.2 m332.3 m326.9 m326.2 m337.1 m335.7 m

Total Debt

822 k1.3 m2 m2.4 m3.3 m

Total Liabilities

495 m525.8 m506.5 m571 m662.1 m578.3 m603.9 m627.3 m598.2 m

Common Stock

1.1 m1.3 m1.3 m1.3 m1.3 m1.3 m1.3 m1.3 m1.3 m

Additional Paid-in Capital

566 m645.7 m650.3 m637.2 m645.5 m648.8 m660.1 m668.5 m670.6 m

Retained Earnings

194.9 m246.6 m256.8 m276.6 m284.8 m295.6 m319.8 m330.8 m340.5 m

Total Equity

363.8 m448.7 m445.6 m445.9 m460.4 m474.7 m507.3 m523.4 m530.5 m

Financial Leverage

2.4 x2.2 x2.1 x2.3 x2.4 x2.2 x2.2 x2.2 x2.1 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

85.9 m29.8 m34.1 m40.1 m

Depreciation and Amortization

18.9 m19.8 m20.4 m22.1 m

Accounts Receivable

(11 m)(6.2 m)(15 m)(19.2 m)

Accounts Payable

1.2 m(3.8 m)(1.3 m)10.2 m

Cash From Operating Activities

(1.5 m)43.9 m47.4 m71 m

Purchases of PP&E

4.1 m

Cash From Investing Activities

175 m(63.9 m)(6.9 m)(50 m)

Short-term Borrowings

(594 k)(1.7 m)(574 k)(347 k)

Cash From Financing Activities

(173.6 m)20.2 m(40.6 m)(18.4 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

89.8 m17.3 m23.4 m31.1 m19.2 m25.8 m36 m21.8 m29.9 m40.8 m24.9 m35.9 m45.5 m

Depreciation and Amortization

14.1 m4.8 m9.8 m15 m5 m10.1 m15.2 m5.2 m10.7 m16.4 m5.6 m11.3 m17.2 m

Accounts Receivable

(28.3 m)(40.1 m)(35.3 m)(36.4 m)(47.2 m)(37.3 m)(37.7 m)(44.5 m)(36.4 m)(38.7 m)(46.1 m)(41 m)(38.1 m)

Accounts Payable

(2.7 m)(2.8 m)7 m289 k1.3 m11.8 m(1.7 m)995 k19.3 m7 m1.3 m14.4 m(61 k)

Cash From Operating Activities

10.6 m(21.2 m)5.2 m22.8 m(24.3 m)4.3 m25.8 m(17.2 m)22.3 m34.9 m(13.3 m)17.2 m33.6 m

Purchases of PP&E

(8.9 m)

Cash From Investing Activities

242 m20.7 m36.2 m18.9 m48.6 m57.7 m60.2 m17.9 m(32.2 m)35.2 m31.8 m43.5 m

Short-term Borrowings

(763 k)(1.1 m)(1.4 m)(58 k)(116 k)(244 k)(103 k)(206 k)(309 k)

Cash From Financing Activities

(249.9 m)4.1 m(38.2 m)(42.1 m)(25.1 m)(60.7 m)(85.1 m)(43 k)17.6 m(70.4 m)(36.7 m)(51.3 m)(79.3 m)

Ratios

USDY, 2017

EV/EBIT

56.1 x

EV/CFO

25 x

Revenue/Employee

45.2 k

Financial Leverage

2.1 x

Operating Metrics

CBIZ's Enterprise Customers was reported to be 50 k in Aug, 2017. CBIZ's Customers was reported to be 90 k in Aug, 2017
FY, 2014FY, 2015FY, 2016Aug, 2017

Enterprise Customers

50 k50 k50 k50 k

Customers

90 k90 k90 k90 k

Locations

100100100100

Markets

18