CBIZ Reports Solid Q4 Earnings, Sees Growth Ahead

Firm cites progress on Marcum integration, plans to leverage scale for accelerated growth in 2026

Published on Feb. 28, 2026

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CBIZ (NYSE:CBZ) executives struck an upbeat tone about the company's positioning in the middle market while acknowledging that softer market conditions and post-merger productivity impacts weighed on 2025 organic growth, according to the company's fourth quarter 2025 earnings call. Management emphasized progress integrating Marcum, including completing 'the vast majority' of integration priorities, improving systems and processes, and strengthening go-to-market capabilities.

Why it matters

CBIZ's performance and outlook provide insights into the state of the professional services industry, particularly the challenges and opportunities facing mid-market firms navigating economic headwinds and post-merger integration. The company's strategic focus on leveraging scale, investing in technology, and expanding offshore capabilities offer a window into how leading firms are adapting to evolving market dynamics.

The details

CBIZ reported 2% organic revenue growth in 2025, which CEO Jerry Grisko attributed to industrywide soft market conditions and 'productivity losses often experienced' in the first year after combining with Marcum. However, the company expects those headwinds to ease in 2026 as middle-market sentiment improves and the integration is completed. Operationally, CBIZ highlighted improvements tied to Marcum's transformation work, including AI and data-related priorities and expanded use of offshore teams. For the full year, revenue rose 52% as reported, with estimated organic growth of about 2%.

  • CBIZ reported its Q4 2025 earnings on February 28, 2026.
  • The company expects to complete the 'vast majority' of Marcum integration priorities in 2025.
  • CBIZ expects headwinds from the Marcum integration to ease in 2026 as the company completes its first busy season as a combined entity.

The players

CBIZ

A leading provider of professional business services in the United States, founded in 1996 and headquartered in Cleveland, Ohio.

Jerry Grisko

CEO of CBIZ.

Brad Lakhia

CFO of CBIZ.

Marcum

An accounting and advisory firm that CBIZ acquired, which has been a key part of the company's growth strategy.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

What’s next

CBIZ expects to continue its focus on deleveraging and share repurchases in 2026, while also investing in technology, automation, and offshoring to drive long-term growth and profitability.

The takeaway

CBIZ's performance and outlook highlight the challenges and opportunities facing mid-market professional services firms as they navigate economic uncertainty, post-merger integration, and the evolving competitive landscape. The company's strategic emphasis on leveraging scale, investing in technology, and expanding offshore capabilities suggests how leading firms are adapting to stay competitive in a rapidly changing industry.